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|
|
%20PRIVATE%20LIMITED%20-%20491443%2015-Feb-2018_files/image002.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20491443%2015-Feb-2018_files/image004.jpg)
%20PRIVATE%20LIMITED%20-%20491443%2015-Feb-2018_files/image006.gif)
MIRA
INFORM REPORT
|
Report No. : |
491443 |
|
Report Date : |
15.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
DARLING MUESCO (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 97/A, Phase-I, G.I.D.C. Industrial Estate, Vatva, Ahmedabad-382445, Gujarat, |
|
Tel. No.: |
91-79-40084881-84 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
02.06.1984 |
|
|
|
|
Com. Reg. No.: |
04-006969 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 10.833 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26922GJ1984PTC006969 |
|
|
|
|
IEC No.: |
Not Applicable (As informed by the management that firm does not have export and import) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD4055D |
|
|
|
|
GST No.: |
24AAACD4055D1Z8 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Industrial Valves. [Registered Activity
and also Confirmed by Management] |
|
|
|
|
No. of Employees
: |
60 (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 : |
Good |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1984. It is a Manufacturer and Exporter
of industrial valves. For the financial year 2017, the company has achieved revenue growth
of 14.63% as compared to the previous year along with a decent profit margin
of 14.00%. The sound financial risk profile of the company is marked by adequate
net worth base along negligible debt balance sheet profile due to unsecured
debt recorded in books. Rating takes into consideration the subject’s favorable Earnings Per
Share of INR 192.00 against the Face Value of INR 100. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business dealings
at usual trade terms and consideration. |
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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 15.02.2018
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
|
Name : |
Mr. Prashant Bhavsar |
|
Designation : |
Accountant |
|
Contact No.: |
91-7940084881 |
|
Date : |
10.02.2018 |
LOCATIONS
|
Registered Office : |
Plot No. 97/A, Phase-I, G.I.D.C. Industrial Estate, Vatva, Ahmedabad-382445, Gujarat, India |
|
Tel. No.: |
91-79-40084881-84/ 25832578/ 25893791-92 |
|
Mobile No.: |
91-7940084881 [Mr. Prashant Bhavsar] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website: |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Kiranbhai Hemendrabhai Shah |
|||||||||||||
|
Designation : |
Managing Director |
|||||||||||||
|
Address : |
Lane 17/331, Satyagrah Chhavni Satellite Road, Ahmedabad-380015, Gujarat, India |
|||||||||||||
|
Date of Appointment : |
13.02.1987 |
|||||||||||||
|
DIN No.: |
00600699 |
|||||||||||||
|
||||||||||||||
|
|
|
|||||||||||||
|
Name : |
Mrs. Alkaben Kiranbhai Shah |
|||||||||||||
|
Designation : |
Director |
|||||||||||||
|
Address : |
Lane 17/331 Satyagrah Chhavani Satellite Road, Ahmedabad-380015, Gujarat, India |
|||||||||||||
|
Date of Birth/Age : |
31.12.1957 |
|||||||||||||
|
Date of Appointment : |
01.11.2018 |
|||||||||||||
|
DIN No.: |
00600720 |
|||||||||||||
|
||||||||||||||
|
|
|
|||||||||||||
|
Name : |
Mrs. Suhaniben Kiranbhai Shah |
|||||||||||||
|
Designation : |
Director |
|||||||||||||
|
Address : |
Lane 17/331, Satyagrah Chhavani Satellite Road, Ahmedabad-380015, Gujarat, India |
|||||||||||||
|
Date of Appointment : |
01.01.2005 |
|||||||||||||
|
DIN No.: |
00600726 |
|||||||||||||
|
||||||||||||||
|
|
|
|||||||||||||
|
Name : |
Mr. Samip Kiranbhai Shah |
|||||||||||||
|
Designation : |
Director |
|||||||||||||
|
Address : |
Lane 17/331, Satyagrah Chhavani, Satellite Road, Ahmedabad-380015, Gujarat, India |
|||||||||||||
|
Date of Appointment : |
01.01.2005 |
|||||||||||||
|
DIN No.: |
00600734 |
|||||||||||||
|
||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Prashant Bhavsar |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Kiran H Shah |
|
43002 |
|
Samip Shah |
|
17083 |
|
Suhani Shah |
|
15833 |
|
Alka Shah |
|
16245 |
|
Bhavin Shah |
|
02 |
|
Kiran Shah (HUF) |
|
14162 |
|
Prakash Shah |
|
02 |
|
Aatree Green Enterprise |
|
02 |
|
Aatree Agro Organic Private Limited |
|
02 |
|
Anchor Darling Valve |
|
2000 |
|
|
|
|
|
Total |
|
108333 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
98.15 |
|
Promoters – Body Corporate |
1.85 |
|
|
|
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20491443%2015-Feb-2018_files/image008.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Industrial Valves. [Registered Activity
and also Confirmed by Management] |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
· Spain · Gulf Countries |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
· UK · USA · China |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Advance Payment, Cheque and Credit [30 Days] |
||||
|
|
|
||||
|
Purchasing : |
Advance Payment, Cheque and Credit [30 Days] |
PRODUCTION STATUS: [NOT AVAILABLE]
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesaler and Manufacturers
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
60 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Dinesh R. Shah and Company Chartered Accountants |
|
Address : |
51, Madhuban, Near Madalpur Underbridge, Ellis Bridge, Ahmedabad- 380006, Gujarat, India |
|
PAN No.: |
AAFFD0959G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related Parties : |
· Subh Consultancy Services · Subh Instrument Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000 |
Equity Shares |
INR 100/- each |
INR 12.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
108333 |
Equity Shares |
INR 100/- each |
INR 10.833 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.833 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
126.887 |
102.305 |
90.158 |
|
(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) |
137.720 |
112.305 |
100.158 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
11.937 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.053 |
0.000 |
0.215 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
11.990 |
0.000 |
0.215 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
37.221 |
45.477 |
32.585 |
|
(c)
Other current liabilities |
14.429 |
14.976 |
12.326 |
|
(d)
Short-term provisions |
8.354 |
1.883 |
0.693 |
|
Total
Current Liabilities (4) |
60.004 |
62.336 |
45.604 |
|
|
|
|
|
|
TOTAL |
209.714 |
174.641 |
145.977 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
15.818 |
17.555 |
15.777 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
129.276 |
98.054 |
81.436 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.045 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.351 |
0.226 |
0.612 |
|
(e)
Other Non-current assets |
0.000 |
0.030 |
0.060 |
|
Total
Non-Current Assets |
145.445 |
115.910 |
97.885 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2.115 |
3.376 |
8.281 |
|
(c)
Trade receivables |
27.552 |
40.872 |
32.487 |
|
(d)
Cash and cash equivalents |
25.389 |
11.193 |
6.223 |
|
(e)
Short-term loans and advances |
9.213 |
3.290 |
1.101 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
64.269 |
58.731 |
48.092 |
|
|
|
|
|
|
TOTAL |
209.714 |
174.641 |
145.977 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
137.173 |
160.687 |
138.839 |
|
|
|
Other Income |
7.909 |
3.481 |
3.892 |
|
|
|
TOTAL |
145.082 |
164.168 |
142.731 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
53.398 |
83.154 |
70.567 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.776 |
1.020 |
0.468 |
|
|
|
Employees benefits expense |
42.846 |
41.120 |
36.600 |
|
|
|
Other expenses |
18.651 |
19.455 |
16.847 |
|
|
|
TOTAL |
115.671 |
144.749 |
124.482 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
29.411 |
19.419 |
18.249 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.191 |
0.208 |
0.398 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
29.220 |
19.211 |
17.851 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.872 |
2.291 |
1.980 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
26.348 |
16.920 |
15.871 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.149 |
4.773 |
4.271 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
19.199 |
12.147 |
11.600 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
192.00 |
121.00 |
101.00 |
|
Expected Sales (2017-2018): INR 150.000 Million
The above information has been parted by Mr. Prashant Bhavsar
[Accountant]
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
73.31 |
92.84 |
85.41 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.98 |
3.93 |
4.27 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
254.42 |
199.62 |
168.54 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
13.91 |
5.75 |
2.20 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.86 |
1.11 |
1.16 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.34 |
0.36 |
0.31 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.09 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.44 |
0.56 |
0.46 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.11 |
0.16 |
0.16 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
153.98 |
93.36 |
45.85 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
14.00 |
7.56 |
8.36 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
9.15 |
6.96 |
7.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
13.94 |
10.82 |
11.58 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.07 |
0.94 |
1.05 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.04 |
0.89 |
0.87 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.66 |
0.64 |
0.69 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.10 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.07 |
0.94 |
1.05 |
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
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
10.000 |
10.000 |
10.833 |
|
Reserves & Surplus |
90.158 |
102.305 |
126.887 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
100.158 |
112.305 |
137.720 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
11.937 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
11.937 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.087 |
%20PRIVATE%20LIMITED%20-%20491443%2015-Feb-2018_files/image010.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
138.839 |
160.687 |
137.173 |
|
|
|
15.736 |
(14.633) |
%20PRIVATE%20LIMITED%20-%20491443%2015-Feb-2018_files/image012.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
138.839 |
160.687 |
137.173 |
|
Profit/ (Loss) |
11.600 |
12.147 |
19.199 |
|
|
8.36% |
7.56% |
14.00% |
%20PRIVATE%20LIMITED%20-%20491443%2015-Feb-2018_files/image014.gif)
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 |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
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 |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
Y10198547 |
90108855 |
THE VISHNAGAR NAGRIK SHAKARI BANK LTD |
27/02/1992 |
- |
- |
450000.0 |
USMANPURA BRANCHAHEMADABADGJIN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deposits |
|
|
|
From Directors |
0.537 |
0.000 |
|
From Shareholders |
11.400 |
0.000 |
|
|
|
|
|
Total |
11.937 |
0.000 |
STATE OF COMPANY’S AFFAIRS AND
FUTURE OUTLOOK
Revenue from Operations for the year ended on March 31, 2017 was INR 137.173 million against INR 160.687 million during previous year. Profit for the year was at INR 26.348 million against INR 16.921 million during previous year.
AMALGAMATION:
Pursuant to an order passed by the NCLT Ahmedabad, Gujarat dated 21st
August 2017, Accuflow Controls Private Limited (Transferor Company) has been amalgamated
with transferee company Darling Muesco India Private Limited. The appointed
date for amalgamation of the company as per the court approved scheme of amalgamation
is 1st April, 2016 and the transferor company has been dissolved
without being wind-up on 31st March, 2016 on the scheme becoming
effective on tiling of certified copy of order passed by the NCIT with the Registered
of Companies [ROC], Gujarat on 29.08.2017.
Since the transferor has carried on its business in trust for on behalf
of Transferee Company from the appointed date, all vouchers, documents, etc.
for the year are in the name of Transferor Company.
Further, these financial statements have been prepared after giving
effect of the said amalgamation as per the order of the court as under.
In line with the approved scheme of amalgamation, the amalgamation of
transferor company with transferee company has been accounted for under the
Pooling of Interest Method as presided by the Accounting Standard [AS14] issued by the institute of
Chartered Accountants of India Follows:
Upon the scheme belong effective, the relatable assets and liabilities
of the transferor company has been transferred to and vested in the books of
the transferee company at the same values as appearing in the books of the
transferor company on the appointed date i.e. on 01.04.2016.
As on the appointed date, the reserves of the transferor company have
been merged with those of the transferee company in the same form as they
appear in the financial statements of the transferor Company.
An amount equal to the balance lying in statement of profit and loss as
on appointed date in the books of transferor has been transferred to the
transferee company’s free reserve as effectively as if the same were created by
the Transferee Company out of its own earned and distribution profits.
The difference in the value of the net assets of the transferor company
as on appointed date and the consideration value determined pursuant to this scheme,
it any has been accounted for in the books of the head of General Reserve of
the transferee company.
In view of the aforesaid amalgamation, the figures of current year are not
comparable to those pf previous year.
FIXED ASSETS:
· Land
· Mobile
· Plant and Machinery
· Computer
· Office Building
· Office Equipment
· Furniture and Fixture
· Vehicles
· Air Conditioner
·
Electric Installation
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 64.13 |
|
UK Pound |
1 |
INR 89.17 |
|
Euro |
1 |
INR 79.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
RUP |
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.