|
|
|
MIRA
INFORM REPORT
|
Report No. : |
491468 |
|
Report Date : |
15.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PRAFFUL OVERSEAS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
RAVEESH OVERSEAS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
349, 1st Floor, Naya Katra, Chandni Chowk, New Delhi-110006 |
|
Tel. No.: |
91-11-23266687 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
04.09.1990 |
|
|
|
|
Com. Reg. No.: |
55-041369 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 188.377 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1990PTC041369 |
|
|
|
|
IEC No.: |
0893006165 |
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|
|
|
GST No.: |
Not Divulged |
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|
|
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TIN 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.] |
AAACR0582P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturing of Nylon Yarn and Embroidery on Fabric. (Registered Activity) |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 2480500 |
|
|
|
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company incorporated in the year 1990 having
fine track record. For the financial year ended 2017, the company has witnessed a healthy
growth in its revenue and has achieved fair profit margin at 3.45% (approx.). The company possesses robust financial risk profile marked by healthy
net worth base along with low debt level of the company. The company also derives strength from its long standing track record
of business operation. Fundamentals of the company are strong and healthy. Trade relations are reported as fair. Business is active. Payment
terms are seems to be regular and as per commitments. 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 |
|
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 |
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.
LOCATIONS
|
Registered Office : |
349, 1st Floor, Naya Katra, Chandni Chowk, New Delhi-110006,
India |
|
Tel. No.: |
91-11-23266687 |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Website : |
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Head Office : |
101-102, G3, Sagar Shopping Centre, Sahara Darwaza, Ring Road, Surat- 395001,
Gujarat, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Sri Narain Aggarwal |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
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Address : |
184, Ist Floor Katra Nawab, Chandni Chowk, Delhi – 110006, India |
||||||||||||||||||||
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Date of Birth/Age : |
14.09.1957 |
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Qualification : |
Graduate |
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Date of Appointment : |
04.09.1990 |
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PAN No.: |
AAFHS5918G |
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DIN No.: |
00244725 |
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Other Directorship :
|
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|
||||||||||||||||||||
|
Name : |
Mr. Jai Narain Aggarwal |
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|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
184, Ist Floor Katra Nawab, Chandni Chowk, Delhi – 110006, India |
||||||||||||||||||||
|
Date of Birth/Age : |
31.08.1959 |
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|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
02.02.2006 |
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PAN No.: |
AAEPA2909E |
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DIN No.: |
00245012 |
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Other Directorship :
|
|||||||||||||||||||||
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|
||||||||||||||||||||
|
Name : |
Mr. Raveesh Aggarwal |
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|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
19/4B, Green House, Shakti Nagar, Delhi – 110007, India |
||||||||||||||||||||
|
Date of Birth/Age : |
07.09.1981 |
||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
01.11.2006 |
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PAN No.: |
ADIPA3030D |
||||||||||||||||||||
|
DIN No.: |
00833422 |
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|
||||||||||||||||||||
|
Name : |
Mr. Prafful Aggarwal |
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Designation : |
Director |
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|
Address : |
349, First Floor, Katra Naya Chandni Chowk, Delhi – 110006, India |
||||||||||||||||||||
|
Date of Birth/Age : |
20.07.1984 |
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Qualification : |
Graduate |
||||||||||||||||||||
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Date of Appointment : |
01.12.2011 |
||||||||||||||||||||
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PAN No.: |
AFCPA6128G |
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DIN No.: |
00351098 |
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Other Directorship :
|
|||||||||||||||||||||
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|
||||||||||||||||||||
|
Name : |
Mr. Ayush Agarwal |
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|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
184, Ist Floor, Katra Nawab, Chandni Chowk, Delhi - 110006, India |
||||||||||||||||||||
|
Date of Birth/Age : |
01.01.1992 |
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|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
01.08.2014 |
||||||||||||||||||||
|
PAN No.: |
ARIPA1855E |
||||||||||||||||||||
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DIN No.: |
03127088 |
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Other Directorship :
|
|||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Amita Aggarwal |
|
3960275 |
|
Sangeeta Aggarwal |
|
3093150 |
|
Shreya Aggarwal |
|
226475 |
|
Manish K Kejriwal |
|
600 |
|
Raj Dulari Devi |
|
750 |
|
Yogesh Kumar Gupta |
|
750 |
|
Jagdish Pershad Gupta |
|
750 |
|
Amrik Singh |
|
900 |
|
Kanta Goyal |
|
600 |
|
Mani Devi |
|
750 |
|
Shivani Aggarwal |
|
13975 |
|
Vijay Kumar Gupta |
|
900 |
|
Suman Aggarwal |
|
294950 |
|
Sri Narain Aggarwal |
|
1831586 |
|
Deoki Nandan Aggarwal |
|
2854200 |
|
Shiv Narain Aggarwal |
|
1263125 |
|
Jai Narain Aggarwal |
|
1100100 |
|
Raveesh Aggarwal |
|
348690 |
|
Nidhi Aggarwal |
|
344850 |
|
Prafful Aggarwal |
|
474165 |
|
Varun Aggarwal |
|
252625 |
|
Ram Gopal |
|
375000 |
|
Paresh Amarnani |
|
742919 |
|
Deepak Shavlni |
|
221450 |
|
Amit Kr Pradeep Kr Premjani |
|
454827 |
|
Richa Aggarwal |
|
453700 |
|
Kirti Aggarwal |
|
370300 |
|
Aayush Aggarwal |
|
155290 |
|
|
|
|
|
Total |
|
18837652 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
37.42 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
55.05 |
|
Public/Other than promoters - Individual/ Hindu Undivided
Family – Non-resident Indian (NRI) |
7.53 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Nylon Yarn and Embroidery on Fabric. (Registered Activity) |
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Products/ Services : |
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Brand Names : |
“PRAFFUL” |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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|
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Bankers : |
· Canara Bank Oveseas Branch, 3rd Floor, Vankar Sangh Building, Ring Road, Surat – 395002, Gujarat, India · State Bank of India - Leading Bank Mid Corporate Group Industrial Finance Branch, Marble Arch, Race Course Circle, Baroda - 390007, Gujarat, India |
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|
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|
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Facilities : |
|
|
Financial Institution : |
· Siemens Financial Services Private Limited 130, Pandurang Budhkar Marg, Worli, Mumbai-400018, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
B R Maheshwari and Company Chartered Accountants |
|
Address : |
M-118, Connaught Circus, New Delhi - 110001, India |
|
PAN No.: |
AACPM9479N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associate Companies : |
· Shreya Apparels (India) Private Limited, India [U18101DL2005PTC136879] · Ganga Ram Synthetics Private Limited, India [U74899DL1986PTC024248] · Prafful Exports · Prafful Industries Private Limited, India [U74899DL1990PTC053678] · Raveesh Overseas · East India Technologies Private Limited, India [U25202DL1996PTC077568] · Sugar N Spice Restaurants Private Limited, India [U55101GJ2010PTC059437] · S B Polyfab Private Limited, India [U17119GJ1989PTC012837] · Nandlal Synthetics Mills Private Limited, India [U17119GJ1984PTC007471] · Shnaya Industries Private Limited, India [U74999DL2016PTC300722] · Rakesh Creations Private Limited, India [U17120GJ2007PTC051554] · Paras Avenues Private Limited, India [U70109GJ1988PTC010559] · Apoorva Tradelink Private Limited, India [U51909WB2009PTC134421] |
CAPITAL STRUCTURE
AFTER: 30.09.2017
Authorised Capital : INR
200.000 Million
Issued, Subscribed & Paid-up Capital : INR 195.734 Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18837652 |
Equity Shares |
INR 10/- each |
INR 188.377
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 |
188.377 |
173.783 |
173.783 |
|
(b) Reserves and Surplus |
679.827 |
529.479 |
451.822 |
|
(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) |
868.204 |
703.262 |
625.605 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
358.475 |
268.129 |
356.785 |
|
(b) Deferred tax liabilities (Net) |
43.948 |
36.795 |
34.217 |
|
(c) Other long-term
liabilities |
183.660 |
114.909 |
78.032 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
586.083 |
419.833 |
469.034 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
327.187 |
328.164 |
386.698 |
|
(b) Trade
payables |
582.536 |
473.454 |
480.656 |
|
(c) Other
current liabilities |
98.090 |
97.153 |
153.890 |
|
(d) Short-term
provisions |
18.429 |
45.411 |
18.584 |
|
Total Current
Liabilities (4) |
1026.242 |
944.182 |
1039.828 |
|
|
|
|
|
|
TOTAL |
2480.529 |
2067.277 |
2134.467 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
944.024 |
904.838 |
1038.998 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
130.247 |
81.668 |
46.035 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.118 |
0.002 |
0.006 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
7.185 |
2.381 |
2.006 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1081.574 |
988.889 |
1087.045 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
687.707 |
651.875 |
419.513 |
|
(c) Trade
receivables |
498.200 |
307.374 |
514.307 |
|
(d) Cash and
bank balances |
84.025 |
58.861 |
55.382 |
|
(e)
Short-term loans and advances |
105.737 |
55.477 |
48.101 |
|
(f) Other
current assets |
23.286 |
4.801 |
10.119 |
|
Total
Current Assets |
1398.955 |
1078.388 |
1047.422 |
|
|
|
|
|
|
TOTAL |
2480.529 |
2067.277 |
2134.467 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3048.555 |
2846.983 |
3016.972 |
|
|
Other Income |
8.235 |
25.402 |
7.766 |
|
|
TOTAL |
3056.790 |
2872.385 |
3024.738 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2347.930 |
2361.336 |
2302.700 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(11.721) |
(252.448) |
(25.970) |
|
|
Employee benefit expense |
76.815 |
65.651 |
58.595 |
|
|
Other expenses |
278.176 |
330.467 |
313.352 |
|
|
TOTAL |
2691.200 |
2505.006 |
2648.677 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
365.590 |
367.379 |
376.061 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
101.356 |
112.396 |
139.868 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
264.234 |
254.983 |
236.193 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
121.042 |
136.866 |
155.573 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
143.192 |
118.117 |
80.620 |
|
|
|
|
|
|
|
Less |
TAX |
38.084 |
40.460 |
26.942 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
105.108 |
77.657 |
53.678 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
10.487 |
19.470 |
4.825 |
|
|
TOTAL EARNINGS |
10.487 |
19.470 |
4.825 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1155.316 |
1175.734 |
1359.761 |
|
|
Components and spare
parts |
1.762 |
2.748 |
1.332 |
|
|
Capital Goods |
11.713 |
0.000 |
0.297 |
|
|
TOTAL IMPORTS |
1168.791 |
1178.482 |
1361.390 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
5.58 |
4.47 |
3.09 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
98.090 |
97.153 |
153.890 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
192.181 |
281.228 |
416.447 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
161.249 |
243.346 |
387.775 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
59.65 |
39.41 |
62.22 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.12 |
9.26 |
5.87 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
90.56 |
73.18 |
76.19 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.53 |
0.56 |
0.90 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.34 |
0.37 |
0.35 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.60 |
0.63 |
0.73 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.90 |
0.99 |
1.43 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.18 |
1.34 |
1.66 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.24 |
1.40 |
1.73 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.61 |
3.27 |
2.69 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.45 |
2.73 |
1.78 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.24 |
3.76 |
2.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
12.11 |
11.04 |
8.58 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.36 |
1.14 |
1.01 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.69 |
0.45 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.35 |
0.34 |
0.29 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.16 |
3.99 |
5.16 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.36 |
1.14 |
1.01 |
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 |
173.783 |
173.783 |
188.377 |
|
Reserves & Surplus |
451.822 |
529.479 |
679.827 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
625.605 |
703.262 |
868.204 |
|
|
|
|
|
|
Long-term borrowings |
356.785 |
268.129 |
358.475 |
|
Short term borrowings |
386.698 |
328.164 |
327.187 |
|
Current maturities of
long-term debts |
153.890 |
97.153 |
98.090 |
|
Total
borrowings |
897.373 |
693.446 |
783.752 |
|
Debt/Equity
ratio |
1.434 |
0.986 |
0.903 |
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 |
3016.972 |
2846.983 |
3048.555 |
|
|
|
(5.634) |
7.080 |
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 |
3016.972 |
2846.983 |
3048.555 |
|
Profit/ (Loss) |
53.678 |
77.657 |
105.108 |
|
|
1.78
% |
2.73
% |
3.45
% |
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 |
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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
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 |
G59788232 |
100130860 |
SIDBI |
28/09/2017 |
- |
- |
28800000.0 |
402-403, 4T FLOOR, INTERNATIONAL BUSINESS CENTREPIPLOD SURAT DUMAS ROADSURATGJ395007IN |
|
2 |
G37052941 |
100080018 |
BREMER KREDITBANK AG |
16/02/2017 |
- |
- |
400000000.0 |
Wachtstrasse 16, Pin code 28195BREMENNANADE |
|
3 |
G36205508 |
100077993 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
27/01/2017 |
- |
- |
115000000.0 |
130, PANDURANG BUDHKAR MARG,WORLIMUMBAIMa400018IN |
|
4 |
B27784966 |
10322930 |
INDIAN OVERSEAS BANK |
01/12/2011 |
- |
- |
480000000.0 |
1007, 21st CENTURY BUSINESS CENTRERING ROAD, NEAR UDHANA DARWAZASURATGJ395002IN |
|
5 |
G17080029 |
10074185 |
STATE BANK OF INDIA - LEAD BANK |
19/10/2007 |
22/09/2016 |
- |
1653800000.0 |
Industrial Finance Branch, 3rd & 4th Floor,Mid Town Heights, Jetalpur Road,VADODARAGJ390007IN |
|
6 |
G17087776 |
10074192 |
STATE BANK OF INDIA - LEAD BANK |
19/10/2007 |
22/09/2016 |
- |
1346300000.0 |
Industrial Finance Branch, 3rd & 4th Floor,Mid Town Heights, Jetalpur Road,VADODARAGJ390007IN |
|
7 |
G27831981 |
90062216 |
CANARA BANK |
14/04/2001 |
06/11/2009 |
27/11/2016 |
375570000.0 |
OVESEAS BRANCH, 3RD FLOOR, VANKAR SANGH BUILDINGRING ROADSURATGJ395002IN |
|
8 |
G27832369 |
10506093 |
Canara Bank |
23/06/2014 |
- |
21/11/2016 |
432000.0 |
Ring Road BranchRing RoadSURATGJ395002IN |
|
9 |
G22095806 |
90062358 |
CANARA BANK |
13/10/2001 |
- |
17/10/2016 |
45200000.0 |
OVERSEAS BRANCH3RD FLOOR; SURAT VANKAR SANGH BUILDING; RING ROADSURATGJ395002IN |
|
10 |
G22095236 |
80037816 |
CANARA BANK |
14/04/2001 |
04/02/2006 |
17/10/2016 |
198820000.0 |
OVERSEAS BRANCH,SURAT VANKAR SANGH BUILDING, RING ROADSURATGJ395002IN |
REVIEW OF OPERATIONS:
The company had 3 working divisions with the following turnover:
Embroidery Division:
During the year, revenue from embroidery was INR 1217.200 Million as compared to 76.37 crores last year thereby showing increase of 59.38%. Company had installed latest embroidery machines best available in world and believes in upgrading the machines and replacing the obsolete. Due to this strategy it had earned good image in the consumers and its order book remains overbooked all round the year.
Nylon Division:
Company's nylon division is situated at Panoli. Due to using modern technology, within short period, company developed its image of one of the leading supplier of the nylon yarn in textile industry. The nylon division fully utilized its capacity and performance was up to expectations. In-spite of a challenging year for textile industry, division performance was well and we hope that in future our performance will further improve. Total turnover during the year under review was INR 1831.300 Million.
Windmill Division:
This is the latest division started by company and still in installation stage. However it started generated revenue and we hope in coming year it will perform well.
The directors believes in diversification and always keep watch on latest development in national and international market for upcoming products based on research and technology.
The total turnover of the company were INR 3048.600 Million as compared to INR 2846.900 Million during the last year, thereby showing an increase of 7.08%. Export Sales were INR 19.400 Million as against INR 10.500 Million last year. Export sales was less due to sluggish international market and cheap products supplied by China.
Profit after tax was INR 10.500 Million as compared to INR 7.800 Million during the last year thereby showing an improvement of 35.35%. Company has further plans to change its production capacity and also started captive power generation in wind and solar sector.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
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
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
IND |
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.