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|
|
MIRA INFORM REPORT
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Report No. : |
492312 |
|
Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
HUBERGROUP INDIA PRIVATE LIMITED (w.e.f. 29.05.2015) |
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|
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|
Formerly Known
As : |
MICRO INKS
PRIVATE LIMITED (w.e.f. 04.09.2014) MICRO INKS
LIMITED (w.e.f. 03.03.2004) |
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|
|
Registered
Office : |
Plot No. 808/E, Phase-II, GIDC, Vapi, Valsad – 396195, Gujarat |
|
Tel. No.: |
91-260-3032100 / 3048000 |
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Country : |
India |
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Financials (as
on) : |
31.12.2016 |
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Date of
Incorporation : |
13.11.1991 |
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Com. Reg. No.: |
04-016598 |
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Capital
Investment / Paid-up Capital : |
INR 248.730
Million |
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|
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|
CIN No.: [Company Identification
No.] |
U24220GJ1991PTC016598 |
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IEC No.: |
0392018861 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACH7063F |
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GSTIN : |
24AAACH7063F1ZU |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Manufacturer and Supplier of various types of Printing Inks, Resins, Adhesives, Pigments, Flush Colours, Wire Enamels, Retarders and their intermediates [Registered Activity and also Confirmed by management] |
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|
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No. of Employees
: |
1200 (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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Maximum Credit Limit : |
USD 40000000 |
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|
Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Hubergroup India Private Limited is a subsidiary of “MHM Holding
GmbH”, Germany and is a manufacturer and supplier of Printing inks, Resins,
Adhesives, Pigments, Flush Colors, Wire Enamels, Retarders and their
intermediaries. The company was incorporated in the year 1991 and has its
base in Vapi (Gujarat). For the financial year 2016, the company has a YOY growth of mere
0.70% and has achieved a Positive Net Profit Margin of 11.03%
(Approximately). The sound financial risk profile of the company is marked by adequate
net worth base along with debt free balance sheet profile. Rating takes into account the subject’s long established track record
of business operations along with extensive experience of its promoters. Rating also takes into account the strong financial and managerial
support that company receives from its holding entity backed by its well
experienced management team. Payment seems to be regular and as per commitments. In view of long standing record and the strong financials, the company
can be considered normal for business dealings at the specified 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 |
|
Rating |
Long Term Rating = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk |
|
Date |
12th July 2017 |
|
Rating Agency Name |
CARE RATING |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
12th July 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 16.02.2018
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. Jayesh Pandya |
|
Designation : |
Vise President Finance |
|
Contact No.: |
91-22-28364313 |
|
Date : |
04.08.2017 |
LOCATIONS
|
Registered Office : |
Plot No.808/E, Phase - II, G. I. D. C. Vapi, Valsad – 396195,
Gujarat, India |
|
Tel. No.: |
91-260-3032100 / 3048000 |
|
Fax No.: |
91-260-3052125 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Leased |
|
Locality : |
Industrial |
|
|
|
|
Marketing
Headquarters/ Sales and Support - International Business Division : |
907, Windfall Sahar Plaza, J B Nagar, Andheri (East), Mumbai - 400059,
Maharashtra, India |
|
Tel No.: |
91-22-28360201/ 28364313 |
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Fax No : |
91-22-28379660/ 28222222 |
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E-mail : |
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|
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Regional Office: |
C 13 Sector 3, Phase 1, Noida – 201301, Uttar Pradesh, India |
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Factory : |
Located at:
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Branch Offices : |
Located At:
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Western Region 1: |
302, Shapath II, Opposite Rajpath Club, Sarkhej Gandhinagar Highway,
Ahmedabad -380015, Gujarat, India |
|
Tel No.: |
91-79-26871541-43 |
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Fax No : |
91-79-26871544 |
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Western Region 2 : |
Located at:
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Northern region : |
Located at:
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Southern Region : |
Located at:
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Eastern Region : |
9 Transport Depot Road, Kolkata-700088, West Bengal, India |
|
Tel No.: |
91-33-24496134 / 36 |
|
Fax No : |
91-33-24495051 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Ashwani Kumar Vishwanath Bhardwaj |
|
Designation : |
Managing Director |
|
Address : |
H.No.4478, Sector - 8, PKT 5 and 6 Vasant
Kunj, New Delhi – 110070, India |
|
Date of Birth/Age : |
18.03.1958 |
|
Qualification : |
B.Sc. MBA |
|
Date of Appointment : |
31.01.2007 |
|
PAN No.: |
AFBPB0925K |
|
DIN No.: |
01515689 |
|
|
|
|
|
|
|
Name : |
Heinrich W. Ringer |
|
Designation : |
Director |
|
Address : |
Bilakhia House, Muktanand Marg, Chala, Vapi
- 396191, Gujarat, India |
|
Date of Birth/Age : |
21.12.1944 |
|
Qualification : |
MBA |
|
Date of Appointment : |
03.02.2006 |
|
DIN No.: |
01540491 |
|
|
|
|
Name : |
Ursula Borgmann |
|
Designation : |
Casual Vacancy Director |
|
Address : |
Microink Company, Bilakhia House, Chala, Vapi – 396191, Gujarat, India |
|
Date of Appointment : |
03.02.2006 |
|
PAN No.: |
06930369 |
|
|
|
|
Name : |
Michael Geiger |
|
Designation : |
Director |
|
Address : |
Kreuzweg 35 B, Stockdorf, 82131, Germany |
|
Date of Appointment : |
30.07.2014 |
|
PAN No.: |
01541193 |
KEY EXECUTIVES
|
Name : |
Alpesh Mansukhlal Chaniyara |
|
Designation : |
Company Secretary |
|
Address : |
Block No.2, Shree Chala Co-Operative Housing Society, Vapi, Daman
Road, Chala, Vapi - 396191, Valsad, Gujarat, India |
|
Date of Birth/Age : |
13.06.1977 |
|
Date of Appointment : |
01.06.2011 |
|
PAN No.: |
AEHPC5783R |
|
|
|
|
Name : |
Mr. Sandeep Bhandari |
|
Designation : |
Chief Financier Officer |
|
Address : |
A - 3 Payal Apartment, 20 Milan Park Society President
Hotel Lane, Navrangpura Ahmedabad 380009 GJ IN |
|
Date of Appointment : |
06.05.2014 |
|
PAN No.: |
AAUPB7223N |
MAJOR SHAREHOLDERS
AS ON 12.05.2017
SHAREHOLDING DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
AS ON 12.05.2017
|
Category |
Percentage |
|
Other Foreign Company |
99.69 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
0.29 |
|
Public/Other than promoters - Body corporate |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Manufacturer and Supplier of various types of Printing Inks, Resins, Adhesives, Pigments, Flush Colours, Wire Enamels, Retarders and their intermediates [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 : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Manufacturers
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No. of Employees : |
1200 (Approximately) |
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Bankers : |
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Auditors : |
|
|
Name : |
Deloitte Haskins
and Sells Chartered
Accountants |
|
Address : |
27 - 32 Floor, Tower 3, Indiabulls Finance Center, Elphinstone Mill compound, Senapati Bapat Road, Elphinstone Road, Mumbai -400013, Maharashtra, India |
|
Tel No.: |
91-22-61854000 |
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Fax No.: |
91-22-61854501 / 4601 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
MHM Holding GmbH, Germany |
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Fellow Subsidiary
Company : |
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Associate: |
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Subsidiary company: |
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CAPITAL STRUCTURE
AS ON 12.05.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
INR 10000/- each |
INR 300.000 Million |
|
5500000 |
Preference Shares |
INR 100/- each |
INR 550.000 Million |
|
|
|
|
INR 850.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24873 |
Equity Shares |
INR 10000/- each |
INR 248.730
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
248.730 |
248.730 |
248.730 |
|
(b) Reserves &
Surplus |
13624.510 |
12176.880 |
10864.764 |
|
(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) |
13873.240 |
12425.610 |
11113.494 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
252.160 |
|
(b) Deferred tax
liabilities (Net) |
305.200 |
292.420 |
348.997 |
|
(c) Other long term
liabilities |
317.170 |
288.750 |
277.538 |
|
(d) long-term provisions |
160.050 |
152.700 |
135.894 |
|
Total Non-current
Liabilities (3) |
782.420 |
733.870 |
1014.589 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
1408.499 |
|
(b) Trade payables |
3108.740 |
2764.320 |
2440.928 |
|
(c) Other current
liabilities |
339.770 |
635.840 |
414.320 |
|
(d) Short-term provisions |
689.540 |
771.890 |
896.188 |
|
Total Current Liabilities
(4) |
4138.050 |
4172.050 |
5159.935 |
|
|
|
|
|
|
TOTAL |
18793.710 |
17331.530 |
17288.018 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3467.400 |
3321.180 |
3694.240 |
|
(ii) Intangible Assets |
8.700 |
9.110 |
14.379 |
|
(iii) Capital
work-in-progress |
95.270 |
172.710 |
10.928 |
|
(iv) Intangible assets
under development |
3.320 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
2212.940 |
2212.940 |
2037.780 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
607.410 |
649.630 |
622.784 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
6395.040 |
6365.570 |
6380.111 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3643.930 |
3358.970 |
3230.936 |
|
(c) Trade receivables |
5553.180 |
6794.460 |
7156.416 |
|
(d) Cash and cash
equivalents |
2699.260 |
399.780 |
25.543 |
|
(e) Short-term loans and
advances |
278.490 |
212.020 |
401.665 |
|
(f) Other current assets |
223.810 |
200.730 |
93.347 |
|
Total Current Assets |
12398.670 |
10965.960 |
10907.907 |
|
|
|
|
|
|
TOTAL |
18793.710 |
17331.530 |
17288.018 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
23711.280 |
23547.070 |
25255.163 |
|
|
|
|
Other Income |
440.060 |
389.050 |
115.805 |
|
|
|
|
TOTAL |
24151.340 |
23936.120 |
25370.968 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
15695.960 |
16058.020 |
18361.918 |
|
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(116.140) |
(7.120) |
(26.589) |
|
|
|
|
Employees benefits expense |
1165.890 |
890.420 |
776.946 |
|
|
|
|
CSR Expenditure |
54.000 |
45.000 |
0.000 |
|
|
|
|
Other expenses |
3140.480 |
3000.620 |
3376.371 |
|
|
|
|
TOTAL |
19940.190 |
19986.940 |
22488.646 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4211.150 |
3949.180 |
2882.322 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
40.110 |
102.510 |
175.539 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4171.040 |
3846.670 |
2706.783 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
392.810 |
454.920 |
412.293 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
3778.230 |
3391.750 |
2294.490 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
1162.280 |
991.720 |
709.031 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
2615.950 |
2400.030 |
1585.459 |
||
|
|
|
|
|
|
||
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7753.690 |
6441.570 |
5910.030 |
||
|
|
|
|
|
|
||
|
|
Adjustment
due to change in useful life of fixed assets |
0.000 |
(70.480) |
0.000 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Interim Dividend |
NA |
373.090 |
124.370 |
|
|
|
|
Tax on Interim Dividend |
NA |
45.610 |
21.130 |
|
|
|
|
Proposed Final Dividend |
NA |
497.460 |
621.830 |
|
|
|
|
Tax on Proposed Final Dividend |
NA |
101.270 |
126.590 |
|
|
|
BALANCE CARRIED
TO THE B/S |
10369.640 |
7753.690 |
6441.570 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
F.O.B. Value of Exports |
12432.000 |
12326.270 |
14153.514 |
|
|
|
|
Earnings on interest |
0.000 |
32.534 |
30.952 |
|
|
|
|
Earnings on dividend |
0.000 |
149.050 |
0.000 |
|
|
|
TOTAL EARNINGS |
12432.000 |
12507.854 |
14184.466 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
8064.170 |
7998.240 |
9502.441 |
|
|
|
|
Stores & Spares |
63.620 |
25.830 |
26.717 |
|
|
|
|
Capital Goods |
21.770 |
42.820 |
6.477 |
|
|
|
TOTAL IMPORTS |
8149.560 |
8066.890 |
9535.635 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
105172.28 |
96491.38 |
63742.21 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Maturities of Long term debt |
0.000 |
264.600 |
252.160 |
|
Net cash flows from (used in) operations |
5311.310 |
4550.812 |
3066.320 |
|
Net cash flows from (used in) operating activities |
4080.790 |
3527.320 |
2203.280 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
85.48 |
105.32 |
103.43 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.27 |
3.47 |
3.53 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
72.29 |
62.83 |
48.52 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.16 |
1.18 |
0.89 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.18 |
1.13 |
0.77 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.22 |
0.24 |
0.31 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.15 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.30 |
0.34 |
0.46 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.26 |
0.28 |
0.33 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
104.99 |
38.52 |
16.42 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
% |
11.03 |
10.19 |
6.28 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets) * 100] |
% |
13.92 |
13.85 |
9.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth) * 100] |
% |
18.86 |
19.32 |
14.27 |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.00 |
2.63 |
2.11 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
2.12 |
1.82 |
1.49 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.74 |
0.72 |
0.64 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
6.68 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.00 |
2.63 |
2.11 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
248.730 |
248.730 |
248.730 |
|
Reserves & Surplus |
10864.764 |
12176.880 |
13624.510 |
|
Net worth |
11113.494 |
12425.610 |
13873.240 |
|
|
|
|
|
|
long-term borrowings |
252.160 |
0.000 |
0.000 |
|
Short term borrowings |
1408.499 |
0.000 |
0.000 |
|
Total borrowings |
1660.659 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.149 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
25255.163 |
23547.070 |
23711.280 |
|
|
|
(6.763) |
0.697 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
25255.163 |
23547.070 |
23711.280 |
|
Profit |
1585.459 |
2400.030 |
2615.950 |
|
|
6.28% |
10.19% |
11.03% |
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 |
Yes |
|
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) |
Yes |
|
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 |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
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 |
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 |
OVERVIEW OF
OPERATIONS
For the year, the business operations of the Company, domestic as well as Exports, forms the basis for review of operational performance by the management.
ECONOMY AND MARKETS
The year 2016 was a difficult year because of several challenges in the domestic and international markets. As a result, the business activity was subdued in almost all the geographies. Developments like U.K. vote in favor of leaving the European Union (Brexit) and economic problems in the gulf region make the business environment even more difficult
PERFORMANCE
In spite of the global challenges and volatile markets your company delivered a robust performance despite considerable headwinds. The Company's improvement in execution and operational efficiencies resulted in significant cost savings.
During the year oil and commodity prices show a modest increase from the earlier lows, however the overall impact was still, lower raw material prices and corresponding increase in profit margins.
STATE OF AFFAIRS
The Company is engaged in the business of manufacturing of printing inks and related products. There has been no change in the business of the Company during the financial year ended December 31, 2016. The highlights of the Company's performance are as under:
Net Revenue from Operations for the year ended December 31, 2016 was at INR 23711.280 million marginally higher than previous year. However, due to lower raw material cost, the profit before tax for the year was at INR 3778.230 million representing an increase of 11 percent over the previous year. After providing for income tax expenses of INR 1162.280 million, profit after tax was INR 2615.950 million.
OUTLOOK
The global economic climate continues to be volatile, uncertain and prone to geo-political risks. The impact on global economic growth and business performance, however, has been mixed so far. The U.S. economy will likely see a modest upside from stronger business confidence, but this is not the only possible scenario in the outlook. Europe and Japan are also experiencing, somewhat surprisingly, stronger internal growth dynamics. In contrast, uncertainties of different kinds are weighing down on emerging markets' growth prospects. Outlook for the Indian economy remains positive.
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B74024357 |
10319236 |
DBS Bank Limited |
01/11/2011 |
03/04/2013 |
- |
450000000.0 |
Upper Ground Floor, Birla Road,25 Barakhamba Road, New DelhiDelhiDL110001IN |
|
2 |
B73979023 |
10106131 |
The Hongkong and Shanghai Banking Corporation Limited |
18/06/2008 |
03/04/2013 |
- |
1000000000.0 |
52/60, M. G. Road,FortMumbaiMH400001IN |
|
3 |
B73241507 |
80012233 |
State Bank of India |
17/09/2005 |
03/04/2013 |
- |
2150000000.0 |
3rd Floor, State Bank Bhavan,Madam Kama Road, Nariman Point,MumbaiMH400021IN |
|
4 |
B73084725 |
80012217 |
ICICI Bank Limited |
30/01/2005 |
03/04/2013 |
- |
1750000000.0 |
Landmark, Race Course Circle,Alkapuri,BarodaGJ390015IN |
|
5 |
B15306137 |
80012219 |
STANDARD CHARTERED BANK |
27/09/2001 |
04/06/2011 |
- |
1800000000.0 |
90, M. G. ROAD,FORTMUMBAIMH400001IN |
|
6 |
G29907672 |
90103243 |
Axis Bank Limited |
14/05/2001 |
19/05/2011 |
07/12/2016 |
350000000.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
7 |
G12167680 |
10402321 |
The Bank of Nova Scotia Asia Limited |
25/01/2013 |
03/04/2013 |
16/09/2016 |
550000000.0 |
One Raffles Quay#20-01 North TowerSingaporeNA048583SG |
|
8 |
G12205282 |
10397775 |
The Bank of Nova Scotia |
10/01/2013 |
03/04/2013 |
15/09/2016 |
500000000.0 |
Mittal Tower, "B" Wing,Nariman PointMumbaiMH400021IN |
|
9 |
C37045580 |
10285710 |
Australia and New Zealand Banking Group Limited |
09/05/2011 |
03/04/2013 |
10/12/2014 |
920000000.0 |
10 Collyer Quay#18-00 Ocean Financial CentreSingaporeNA049315SG |
|
10 |
B88960653 |
10205031 |
DBS Bank Limited |
20/02/2010 |
28/02/2012 |
11/11/2013 |
277800000.0 |
Credit Control Unit, 3rd Floor, Fort House,Dr. D. N. Road, FortMumbaiMH400001IN |
FIXED ASSETS:
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipment
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 89.02 |
|
Euro |
1 |
INR 78.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
PON |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
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.