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|
|
MIRA
INFORM REPORT
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Report No. : |
492103 |
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Report Date : |
15.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
GROW WELL MERCANTILE PRIVATE LIMITED (w.e.f.19.12.2014) |
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Formerly Known
As : |
GROW WELL MERCANTILE LIMITED (w.e.f.13.10.2010) GROW WELL MERCANTILE PRIVATE LIMITED |
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Registered
Office : |
Unit No.2, 5th Floor, Global Foyer Building, Sector-43,
Golf Course Road, Gurgaon – 122002, Haryana |
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Tel. No.: |
91-22-23484506 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
20.01.1997 |
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Com. Reg. No.: |
05-047058 |
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Capital
Investment/ Paid-up Capital: |
INR 73.251 Million |
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CIN No.: [Company Identification
No.] |
U51900HR1997PTC047058 |
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IEC No.: |
Not Divulged |
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GST No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCG1082F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Importer and Supplier of Iron and Steel and Provide Services Decoiling and Cutting Steel. (Registered Activities and also Confirmed by Management) |
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No. of Employees
: |
Not Divulged |
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 : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1997 and it is having good track records. For the financial year 2017, the company has registered decrease in its revenue from operation as compared to previous year and maintained minimal profitability margin of 0.38%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and low debt balance sheet. Further, rating also reflects from its established track records business operations, experience of promoters in the metal trading business and improvement in the profitability profile during the year. However, rating strength is partially offset by revenue de-growth and exposure to forex fluctuations. Trade relations are reported as fair. Business is active. Payments terms are seem to be regular. In view of the 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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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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
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 DECLINED BY
|
Name : |
Mr. Ashok Mantry |
|
Designation : |
Not Divulged |
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Contact No.: |
91-9769405019 |
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Date : |
14.02.2018 |
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|
|
Name : |
Mr. Sikveri |
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Designation : |
General Manager |
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Contact No.: |
91-22-66172219 |
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Date : |
14.02.2018 |
LOCATIONS
|
Registered Office : |
Unit No.2, 5th Floor, Global Foyer Building, Sector-43,
Golf Course Road, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
Not Available |
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Mobile No.: |
91-9769405019 [Mr. Ashok Mantry] |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory: |
Plot No.12, MIDC Industrial Area, Taloja, Navi Mumbai, Maharashtra,
India |
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Corporate Office: |
50-510, Navratan Building Co-Operative Society, 69, P D Mello Road,
Carnac Bunder, Mumbai - 400009, Maharashtra, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Ashok Roshanlal Kumar |
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Designation : |
Director |
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Address : |
A-93, Paschim Apartments, Kashinath Dhuru Road, Mumbai - 400028, Maharashtra, India |
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Date of Birth: |
01.01.1968 |
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Qualification: |
B.COM |
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Date of Appointment : |
08.08.2014 |
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DIN No.: |
00286892 |
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Pan No.: |
AADPM4558L |
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Other Directorship:
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Name : |
Mr. Arbindersingh Surjitsingh Ghura |
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Designation : |
Director |
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Address : |
28, Navyug Co-Op Hsg Society, V.M. Road, J.V.P.D. Scheme,
Vile Parle W Est Mumbai - 400056, Maharashtra, India |
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Date of Birth: |
26.12.1959 |
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Qualification: |
B.COM |
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Date of Appointment : |
02.05.2017 |
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DIN No.: |
03163356 |
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Pan No.: |
AJIPG0054B |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Vyakhya Saurabh Nemani |
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Designation : |
Company Secretary |
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Address : |
C/O D.R. Dalmia, A/30 Krishnalaya, 8th Floor, Near Chunabhatti Bus Depot, N S Mankikar Mar G, Chunaba, Mumbai - 400022, Maharashtra, India |
|
Date of Appointment : |
01.06.2016 |
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PAN No.: |
AYCPK7998K |
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|
Name : |
Mr. Sikveri |
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Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Savita Nair |
|
1 |
|
Siddharth Jadhav |
|
1 |
|
Anuj R Miglani |
|
514999 |
|
Ankit R Miglani |
|
514999 |
|
Archisha Steels Private Limited, India |
|
342000 |
|
Sanjeev Gupta |
|
249635 |
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Priyanka Miglani |
|
27500 |
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Total |
|
1649135 |
|
Names of Preference Shareholders |
No. of Shares |
|
Archive Reality Developers Private Limited |
2500000 |
|
Vertex Trade and Properties Developers Private Limited |
3176000 |
|
|
|
|
Total |
5676000 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
64.12 |
|
Promoters (Bodiy corporate) |
20.74 |
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Public/Other than promoters (Bodies corporate) |
15.14 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Business of Trading in Iron and Steel. [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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
Not Divulged |
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Bankers : |
· Union Bank of India Industrial Finance Branch, Union Bank Bhawan, Nariman Point, Mumbai - 400021, Maharashtra, India |
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Facilities : |
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Auditors 1 : |
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Name : |
Lalit Mehta and Company Chartered Accountants |
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Address : |
101, Apollo Arcade, R.K Singh Marg, Off P.P. Road, Near Sona Udyog, Andheri, Mumbai, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABPM6331K |
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Auditors 2 : |
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Name : |
Garg Bros and Associates Chartered Accountants |
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Address : |
203, Skipper Corner 88, |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFG0988R |
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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 |
· Executive Trading Company Private Limited, India · [U51909MH1995PTC086378] · Uttam Value Steels Limited, India [L27100MH1970PLC014621] · Uttam Galva Steels Limited, India [L27104MH1985PLC035806] · Uttam Galva Metallics Limited, India [U27200HR2007PLC037927] · Indrajit Power Private Limited, India [U45200MH1994PTC081267] · Shree Uttam Steel and Power Limited [U65990MH1988PLC212607] · Kredence Multi-Trading Limited [U51900HR1984PLC048132] · Archisha Investments Private Limited [U27205MH1981PTC025930] · Sainath Trading Company Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
INR 10/- each |
INR 70.000 Million |
|
8000000 |
Preference Shares |
INR 10/- each |
INR 80.000 Million |
|
|
Total |
|
INR 150.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1649135 |
Equity Shares |
INR 10/- each |
INR 16.491 Million |
|
5676000 |
Preference Shares |
INR 10/- each |
INR 56.760
Million |
|
|
Total |
|
INR 73.251 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 |
73.251 |
73.251 |
73.251 |
|
(b) Reserves and Surplus |
997.096 |
961.676 |
937.220 |
|
(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) |
1070.347 |
1034.927 |
1010.471 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
344.254 |
342.500 |
0.481 |
|
(b) Deferred tax liabilities (Net) |
35.211 |
31.736 |
26.400 |
|
(c) Other long-term
liabilities |
383.029 |
438.672 |
1514.447 |
|
(d) long-term
provisions |
0.136 |
0.206 |
0.271 |
|
Total Non-current
Liabilities (3) |
762.630 |
813.114 |
1541.599 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.938 |
18.674 |
1.365 |
|
(b) Trade
payables |
4449.004 |
4122.476 |
3790.705 |
|
(c) Other
current liabilities |
3.427 |
1.626 |
3.655 |
|
(d) Short-term
provisions |
9.563 |
0.985 |
0.230 |
|
Total Current
Liabilities (4) |
4462.932 |
4143.761 |
3795.955 |
|
|
|
|
|
|
TOTAL |
6295.909 |
5991.802 |
6348.025 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
437.029 |
452.667 |
474.066 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
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 |
1223.995 |
1223.995 |
1223.998 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
8.457 |
16.419 |
10.349 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1669.481 |
1693.081 |
1708.413 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.461 |
0.000 |
0.000 |
|
(c) Trade
receivables |
4118.324 |
4067.876 |
4117.216 |
|
(d) Cash and
bank balances |
429.688 |
205.795 |
491.162 |
|
(e)
Short-term loans and advances |
77.747 |
24.848 |
31.056 |
|
(f) Other
current assets |
0.208 |
0.202 |
0.178 |
|
Total Current
Assets |
4626.428 |
4298.721 |
4639.612 |
|
|
|
|
|
|
TOTAL |
6295.909 |
5991.802 |
6348.025 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
10692.788 |
13213.951 |
11685.263 |
|
|
Other Income |
69.328 |
37.753 |
33.235 |
|
|
TOTAL |
10762.116 |
13251.704 |
11718.498 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
10602.563 |
13181.383 |
11634.137 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.461) |
0.000 |
0.000 |
|
|
Employee benefit expense |
3.965 |
2.180 |
2.711 |
|
|
CSR expenditure |
0.732 |
0.000 |
0.000 |
|
|
Other expenses |
26.860 |
11.723 |
13.587 |
|
|
TOTAL |
10633.659 |
13195.286 |
11650.435 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
128.457 |
56.418 |
68.063 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
47.947 |
5.161 |
9.552 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
80.510 |
51.257 |
58.511 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
21.317 |
21.399 |
21.892 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
59.193 |
29.858 |
36.619 |
|
|
|
|
|
|
|
Less |
TAX |
18.525 |
5.401 |
11.989 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
40.668 |
24.457 |
24.630 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
24.66 |
14.83 |
14.94 |
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 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
249.300 |
(639.387) |
187.876 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
246.155 |
(644.697) |
166.001 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
140.58 |
112.36 |
128.61 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.60 |
3.25 |
2.84 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
153.16 |
114.15 |
118.93 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
278.65 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.29 |
0.12 |
0.14 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.76 |
0.75 |
0.60 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.32 |
0.35 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
4.17 |
4.00 |
3.76 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.41 |
0.44 |
0.47 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.68 |
10.93 |
7.13 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.38 |
0.19 |
0.21 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.65 |
0.41 |
0.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
3.80 |
2.36 |
2.44 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.04 |
1.04 |
1.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.04 |
1.04 |
1.22 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.17 |
0.17 |
0.16 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.71 |
4.93 |
0.03 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.04 |
1.04 |
1.22 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
73.251 |
73.251 |
73.251 |
|
Reserves & Surplus |
937.220 |
961.676 |
997.096 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1010.471 |
1034.927 |
1070.347 |
|
|
|
|
|
|
Long-term borrowings |
0.481 |
342.499 |
344.254 |
|
Short term borrowings |
1.365 |
18.674 |
0.938 |
|
Total
borrowings |
1.846 |
361.173 |
345.192 |
|
Debt/Equity
ratio |
0.002 |
0.349 |
0.323 |
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 |
11685.263 |
13213.951 |
10692.788 |
|
|
|
13.082 |
(19.080) |
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 |
11685.263 |
13213.951 |
10692.788 |
|
Profit/ (Loss) |
24.630 |
24.457 |
40.668 |
|
|
0.21
% |
0.19
% |
0.38
% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C59802520 |
10581897 |
AXIS TRUSTEE
SERVICES LIMITED |
30/06/2015 |
- |
- |
1250000000.0 |
AXIS HOUSE, 2ND
FLR, BOMBAY DYEING MILLS COMPOUND,PANDURANG BUDHKAR MARG,
WORLI,MUMBAIMH400025IN |
|
2 |
C59805317 |
10581907 |
AXIS TRUSTEE
SERVICES LIMITED |
30/06/2015 |
- |
- |
4250000000.0 |
AXIS HOUSE, 2ND
FLR, BOMBAY DYEING MILLS COMPOUND,PANDURANG BUDHKAR MARG, WORLI,MUMBAIMH400025IN |
|
3 |
A88950043 |
10222372 |
UNION BANK OF
INDIA |
06/11/2007 |
14/06/2010 |
- |
403500000.0 |
BHAT BAZAR
BRANCH,ANANT DEEP CHAMBERS,273/277,NARSI NATHA STREET,MUMBAIMH400009IN |
|
4 |
A37826674 |
10101177 |
UNION BANK OF
INDIA |
01/11/2007 |
- |
- |
430500000.0 |
BHAT BAZAR BRANCH,
ANANT DEEP CHAMBERS,273/277, NARSI NATHA STREET,MUMBAIMH400009IN |
|
5 |
A37826690 |
10101178 |
UNION BANK OF
INDIA |
01/11/2007 |
- |
- |
31500000.0 |
BHAT BAZAR BRANCH,
ANANT DEEP CHAMBERS,273/277, NARSI NATHA STREET,MUMBAIMH400009IN |
|
6 |
C66544503 |
10101176 |
UNION BANK OF
INDIA |
01/11/2007 |
26/08/2015 |
- |
2900000000.0 |
INDUSTRIAL FINANCE
BRANCH, UNION BANK BHAVANARIMAN POINTMUMBAIMH400021IN |
|
7 |
A37826732 |
10101179 |
UNION BANK OF
INDIA |
01/11/2007 |
- |
- |
126500000.0 |
BHAT BAZAR BRANCH,
ANANT DEEP CHAMBERS,273/277, NARSI NATHA STREET,MUMBAIMH400009IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
342.500 |
342.500 |
|
|
|
|
|
Total |
342.500 |
342.500 |
BACKGROUND
Grow
well Mercantile Limited is a company incorporated under the Companies Act, 1956
(now Companies Act, 2013) and is engaged in the business of Decoiling and
Cutting of Steel and also in Trading in Iron and Steel.
STATE OF COMPANY AFFAIRS:
The Company is engaged in the Business of Trading in Iron and Steel. During the year the Company has earned a profit of INR 40.668 million.
CONTINGENT
LIABILITIES: [As On 31.03.2017]
Letter
of Credit Issued by banks- INR 2145.000 million (Previous Year INR 2632.500 million)
out of which INR 486.600 million (Previous Year INR 1933.000 million) LC have
been overdue as on 31stMarch 2017.
FIXED ASSETS:
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment’s
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 64.13 |
|
UK Pound |
1 |
INR 89.17 |
|
Euro |
1 |
INR 79.39 |
INFORMATION
DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
ARC |
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.