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MIRA INFORM REPORT
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Report No. : |
492087 |
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Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
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Name : |
RACOLD THERMO PRIVATE LIMITED (w.e.f. 16.09.2015) |
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Formerly Known
As : |
RACOLD THERMO LIMITED (w.e.f 10.06.2011) ARISTON THERMO INDIA LIMITED (w.e.f. 19.02.2009) MERLONI TERMOSANITARI SSP LIMITED |
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Registered
Office : |
Gat No : 264/265/374/376, Kharabwadi, Chakan-Talegaon Road, Chakan, Taluka Khed, Pune-410 501, Maharashtra |
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Tel. No.: |
91-2135-674700 |
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Country : |
India |
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Financials (as
on) : |
31.12.2016 |
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Date of
Incorporation : |
11.11.2004 |
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Com. Reg. No.: |
11-019938 |
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Capital
Investment / Paid-up Capital : |
INR 262.100 Million |
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CIN No.: [Company Identification
No.] |
U31909PN2004PTC019938 |
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IEC No.: |
3104011419 |
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GST No.: |
27AAECM0766G2ZG |
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TIN No.: |
27340407355 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECM0766G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing, Selling and Trading of water heating equipment’s and solutions (including storage water heaters, geysers, solar water heaters, etc.). [Registered Activity] |
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No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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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 a subsidiary of “Ariston Thermo Spa, Italy” and was incorporated in the year 2004. It is a manufacturer and trader of water heating equipment and solutions. For the financial year 2016, the company has achieved revenue growth of 6.43% as compared to the previous year along with an average profit margin of 5.38%. The sound financial risk profile of the company is marked by adequate net worth base along with strong debt coverage indicators due debt free balance sheet profile. Rating takes into account the strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. Payments are reported to be regular. In view of 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.
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 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 DECLINED
MANAGEMENT NON-COOPERATIVE
(Contact No: 91-2135-674700)
LOCATIONS
|
Registered/ Corporate Office/ Factory : |
Gat No : 264/265/374/376, Kharabwadi, Chakan-Talegaon Road, Chakan, Taluka Khed, Pune-410 501, Maharashtra, India |
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Tel. No.: |
91-2135-674700 |
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Fax No.: |
91-2135-674850/ 674851 |
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E-Mail : |
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Website : |
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Regional Offices : |
Located at: · Mumbai · Indore · Faridabad · Jaipur · Hyderabad · Bangalore · Cochin · Kolkata · Bilaspur · Chennai · Pune · Chandigarh |
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Branch Offices: |
Located at: ·
Kolkata ·
New Delhi ·
Mumbai ·
Cochin ·
Bangalore ·
Chennai ·
Pune ·
Chandigarh ·
Hyderabad |
DIRECTORS
AS ON 07.04.2017
|
Name : |
Mr. Ramnath Venkatramanan |
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Designation : |
Managing Director |
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Address : |
134, Windermere 2 - B, Off New Link Road, Oshiwara, Andheri (West), Mumbai- 400053, Maharashtra, India |
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Date of Birth/Age : |
26.05.1967 |
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Qualification : |
Graduate |
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Date of Appointment : |
04.11.2015 |
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PAN No.: |
AABPV8301J |
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DIN No.: |
03273682 |
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Name : |
Ms. Marcella Zacchei |
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Designation : |
Director |
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Address : |
Falconara Marittima Ancona 60015 IT |
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Date of Birth/Age : |
16.06.1966 |
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Qualification : |
Graduate |
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Date of Appointment : |
26.05.2015 |
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DIN No.: |
06951926 |
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Name : |
Walter Albe |
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Designation : |
Director |
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Address : |
Olgiate Olona, Via Ventiquattro Maggio N.1 Fabriano 21057 IT |
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Date of Appointment : |
07.04.2017 |
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DIN No.: |
07762636 |
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Name : |
Mr. Paolo Cancellieri |
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Designation : |
Director |
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Address : |
Via Della Montagnola 97, Ancona, 60127, Italy |
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Date of Appointment : |
07.05.2012 |
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DIN No.: |
05236130 |
KEY EXECUTIVES
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Name : |
Mrs. Heta Tejas Mehta |
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Designation : |
Company Secretary |
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Address : |
401, Parle Landmark Co Op Hsg Soc, Near Laxmi Naray, Vile Parle (West), Mumbai-400056, Maharashtra, India |
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Date of Appointment : |
03.04.2017 |
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PAN No: |
AMKPM5915G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 07.04.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
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Ariston Thermo SpA |
5900954 |
22.51 |
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Ariston Thermo International Srl |
20312521 |
77.49 |
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Total |
26213475 |
100.00 |
AS ON 07.04.2017
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Promoters
– Body Corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, Selling and Trading of water heating equipments and solutions (including storage water heaters, geysers, solar water heaters, etc.). [Registered Activity] |
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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 : |
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 : |
Information declined by the Management |
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Bankers : |
· Bank of Maharashtra Pimpri, Pune-411018, Maharashtra, India · State Bank of India Industrial Finance Branch, Pimpri, Pune-411034, Maharashtra, India · The Hongkong and Shanghai Banking Corporation Limited 52/60 Mahatma Gandhi Road, Fort, Mumbai-400001, Maharashtra, India · Canara Bank Parliament Street, New Delhi-110001, India |
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Facilities : |
--- |
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Auditors : |
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Name : |
S R B C and Company LLP Chartered Accountants |
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Address : |
C 401 Fourth Floor, Panchshil Tech Park, Yerwada, Pune- 411006, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
ACHFS9117R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Ariston Thermo International Srl., Italy |
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Ultimate Holding Company : |
Ariston Thermo SpA, Italy |
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Fellow Subsidiary Companies : |
· Ariston Thermo Russia LLC · Ariston Thermo Pte Limited · Ariston Thermo China Co. Limited · Thermowatt SpA · Thermowatt Wuxi Electric Co. Limited ·
Ariston Thermo Vietnam Limited · Ariston Thermo India Private Limited, India [U31900PN2016FTC165930] · Ariston Thermo Industrial Vietnam Company, Vietnam · Thermowatt SpA, Italy · Ariston Thermo Parts & Services Sa - IS, Italy |
CAPITAL STRUCTURE
AS ON 31.12.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
30000000 |
Equity Shares |
INR 10/- each |
INR 300.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
26213475 |
Equity Shares |
INR 10/- each |
INR 262.135 Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
262.100 |
262.100 |
262.100 |
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(b) Reserves and Surplus |
1112.800 |
971.800 |
930.800 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
1374.900 |
1233.900 |
1192.900 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long-term
liabilities |
10.800 |
10.100 |
9.300 |
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(d) long-term
provisions |
72.900 |
74.700 |
71.600 |
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Total Non-current
Liabilities (3) |
83.700 |
84.800 |
80.900 |
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(4)
Current Liabilities |
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(a) Short-term
borrowings |
0.000 |
0.000 |
115.800 |
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(b) Trade
payables |
634.900 |
519.300 |
591.700 |
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(c) Other current
liabilities |
120.300 |
119.100 |
119.800 |
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(d) Short-term
provisions |
37.100 |
27.200 |
29.400 |
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Total Current
Liabilities (4) |
792.300 |
665.600 |
856.700 |
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TOTAL |
2250.900 |
1984.300 |
2130.500 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
312.900 |
324.000 |
344.300 |
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(ii)
Intangible Assets |
1.800 |
9.700 |
15.200 |
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(iii) Tangible assets
capital work-in-progress |
9.500 |
5.500 |
3.100 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
50.200 |
38.400 |
29.200 |
|
(d)
Long-term
loans and advances |
71.800 |
173.400 |
161.900 |
|
(e) Other Non-current
assets |
0.700 |
0.800 |
0.000 |
|
Total Non-Current
Assets |
446.900 |
551.800 |
553.700 |
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(2)
Current assets |
|
|
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|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
578.700 |
395.900 |
418.300 |
|
(c) Trade
receivables |
579.200 |
709.900 |
1042.800 |
|
(d) Cash and bank
balances |
591.600 |
295.900 |
88.000 |
|
(e)
Short-term loans and advances |
54.500 |
30.800 |
27.700 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1804.000 |
1432.500 |
1576.800 |
|
|
|
|
|
|
TOTAL |
2250.900 |
1984.300 |
2130.500 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
|
SALES |
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|
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Total
Revenue from operations |
2620.200 |
2462.000 |
2841.500 |
|
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Other Income |
38.600 |
18.400 |
11.200 |
|
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TOTAL |
2658.800 |
2480.400 |
2852.700 |
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Less |
EXPENSES |
|
|
|
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|
Cost of Materials
Consumed |
1191.800 |
1085.900 |
1373.200 |
|
|
Purchases of Stock-in-Trade |
332.700 |
303.200 |
324.800 |
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|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(163.000) |
10.500 |
(53.800) |
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Employee benefit expense |
333.500 |
323.000 |
347.200 |
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|
CSR expenditure |
3.000 |
3.500 |
0.000 |
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Other expenses |
672.500 |
604.800 |
659.300 |
|
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TOTAL |
2370.500 |
2330.900 |
2650.700 |
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PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
288.300 |
149.500 |
202.000 |
|
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|
Less |
FINANCIAL
EXPENSES |
6.200 |
18.100 |
28.700 |
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|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
282.100 |
131.400 |
173.300 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
66.600 |
65.700 |
63.900 |
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|
PROFIT/ (LOSS)
BEFORE TAX |
215.500 |
65.700 |
109.400 |
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Less |
TAX |
74.500 |
24.700 |
38.800 |
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|
PROFIT/ (LOSS)
AFTER TAX |
141.000 |
41.000 |
70.600 |
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|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
153.800 |
139.400 |
104.300 |
|
|
TOTAL EARNINGS |
153.800 |
139.400 |
104.300 |
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IMPORTS |
|
|
|
|
|
Raw Materials |
334.900 |
297.500 |
360.300 |
|
|
Components and spare
parts |
22.300 |
26.600 |
24.400 |
|
|
Capital Goods |
28.900 |
11.200 |
5.700 |
|
|
TOTAL IMPORTS |
386.100 |
335.300 |
390.400 |
|
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|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
5.38 |
1.56 |
2.69 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
324.000 |
436.300 |
166.400 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
352.200 |
410.900 |
101.500 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
80.68 |
105.25 |
133.95 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.52 |
3.47 |
2.72 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
152.01 |
136.45 |
127.19 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.50 |
0.38 |
0.48 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.89 |
0.44 |
0.56 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.35 |
0.34 |
0.40 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.10 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.58 |
0.54 |
0.72 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.24 |
0.27 |
0.30 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
46.50 |
8.26 |
7.04 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
5.38 |
1.67 |
2.48 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.26 |
2.07 |
3.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.26 |
3.32 |
5.92 |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.28 |
2.15 |
1.84 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.55 |
1.56 |
1.35 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.61 |
0.62 |
0.56 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.44 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.28 |
2.15 |
1.84 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL DATA
[all figures are
in 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 |
262.100 |
262.100 |
262.100 |
|
Reserves & Surplus |
930.800 |
971.800 |
1112.800 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1192.900 |
1233.900 |
1374.900 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
115.800 |
0.000 |
0.000 |
|
Total
borrowings |
115.800 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.097 |
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 |
2841.500 |
2462.000 |
2620.200 |
|
|
|
(13.356) |
6.426 |
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 |
2841.500 |
2462.000 |
2620.200 |
|
Profit/ (Loss) |
70.600 |
41.000 |
141.000 |
|
|
2.48
% |
1.67
% |
5.38
% |
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 |
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 |
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 |
C32249203 |
10529243 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED |
24/09/2014 |
- |
- |
608570.0 |
52/60 MAHATMA GANDHI
ROADFORTMUMBAIMH400001IN |
|
2 |
Y10176263 |
90091242 |
STATE BANK OF
INDIA |
13/04/2000 |
- |
- |
43500000.0 |
INDUSTRIAL FINANCE
BRANCHPIMPRIPUNEMH411034IN |
|
3 |
Y10169465 |
90084444 |
BANK OF
MAHARASHTRA |
11/04/1996 |
- |
- |
2500000.0 |
PIMPRIPUNEMH411018IN |
|
4 |
Y10172983 |
90087962 |
BANK OF
MAHARASHTRA |
11/04/1996 |
- |
- |
3000000.0 |
PIMPRIPUNEMH411018IN |
|
5 |
Y10169314 |
90084293 |
BANK OF
MAHARASHTRA |
18/07/1995 |
10/03/1997 |
- |
1500000.0 |
PIMPRIPUNEMH411018IN |
|
6 |
Y10169202 |
90084181 |
CANARA BANK |
13/10/1994 |
10/02/1996 |
- |
500000.0 |
PARLIAMENT
STREETNEW DELHIDL110001IN |
GENERAL
INFORMATION
Racold Thermo Private Limited (the ‘Company') is engaged in the business of manufacturing and sale and trading of water heating equipments and solutions (including storage water heaters, geysers, solar water heaters, etc.). The Company was incorporated on November 11, 2004 and has its place of business in Pune (Chakan), India.
Pursuant to a resolution passed in the board meeting held on April 13, 2015 and approval of Shareholders in the meeting held on May 25, 2015, the Company has been converted in to a private company as defined in Section 2(68) of the Companies Act, 2013 with effect from September 16, 2015.
FINANCIAL RESULTS
The Company has achieved Net turnover of INR 2620.000 Million as against INR 2460.000 Million of the previous year. The company is confident to show better results in the coming years.
After charging all expenses and taxes, the Company earned a profit of INR 141.000 Million during the year under report as against the profit of INR 41.000 Million earned during the previous year.
The directors are making all efforts to improve the performance of the Company and are hopeful of better working in the current year.
BUSINESS ACTIVITIES:
The Company is in the manufacturing and marketing of water and space heating products and their components.
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,
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 63.92 |
|
|
1 |
INR 89.55 |
|
Euro |
1 |
INR 79.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
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.