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MIRA INFORM REPORT
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Report No. : |
492486 |
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Report Date : |
17.02.2018 |
IDENTIFICATION DETAILS
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Name : |
D AND H SECHERON ELECTRODES PRIVATE LIMITED (w.e.f.18.03.1978) |
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Formerly Known
As : |
D AND H SECHERON ELECTRODES LIMITED |
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Registered
Office : |
D-218, Wing, Vishnu Shopping Centre plot No. 36, Sector
15, CBD Belapur, Navi Mumbai – 400614, Maharashtra |
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Tel. No.: |
91-22-42164646 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
03.06.1965 |
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Com. Reg. No.: |
11-164343 |
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Capital
Investment / Paid-up Capital : |
INR 82.695 Million |
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CIN No.: [Company Identification
No.] |
U32101MH1965PTC164343 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTIN : |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACD6111E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing and sale of Industrial Welding Electrodes and Consumables. (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 : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1965. It is a manufacturer of
Coated Electrodes for Electric ARC Welding. For the financial year 2017, the company has reported decline in its
revenue as compared to previous year but has managed to maintain average
profit margin of 1.44%. The sound financial profile of the company is marked by adequate
networth base along with negligible debt level. The rating takes into consideration the subject’s long track record of
business operations along with extensive experience of its promoters. Business is active. Payments seems to be slow but correct. 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
|
Rating Agency Name |
ICRA RATING |
|
Rating |
Long Term Fund Based Limits = BBB- |
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Rating Explanation |
Moderate degree of safety and moderate credit risk |
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Date |
14.12.2017 |
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Rating Agency Name |
ICRA RATING |
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Rating |
Short Term Fund Based Limits = A3 |
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Rating Explanation |
Moderate degree of safety |
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Date |
14.12.2017 |
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 17.02.2018.
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 DENIED BY
|
Name : |
Mr. Sunil |
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Designation : |
Accounts Department |
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Contact No.: |
91-22-42164646 |
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Date : |
15.02.2018 |
LOCATIONS
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Registered Office : |
D-218, Wing, Vishnu Shopping Centre, Plot No. 36, Sector 15, CBD
Belapur, Navi Mumbai – 400614, Maharashtra, India |
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Tel. No.: |
91-22-40428100 |
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Fax No.: |
Not Available |
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E-Mail : |
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Basement Office
: |
Basement, Dalamal Chambers, 29, New Marine Lines, Sir V. Thackersy
Marg Mumbai – 400020, Maharashtra, India |
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Manufacturing
Facilities: |
Located At: Indore, Madhya Pradesh, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Murli Dhar Khatri |
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Designation : |
Managing Director |
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Address : |
184-Kalani Nagar, Aerodrome Road, Indore - 452005, Madhya Pradesh, India. |
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Date of Birth/Age : |
08.03.1940 |
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Date of Appointment : |
01.07.2006 |
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PAN No.: |
ADNPK8159J |
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DIN No.: |
00064698 |
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Name : |
Mr. Arvind A. Maheshwari |
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Designation : |
Whole-time director |
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Address : |
22, Maket Tower, “I” Cuffe Parade, Mumbai - 400005, Maharashtra, India. |
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Date of Birth/Age : |
23.11.1971 |
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Qualification : |
B. E. |
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Date of Appointment : |
12.06.2003 |
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PAN No.: |
AABPM4271G |
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DIN No.: |
00094313 |
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Name : |
Mr. Ashok H. Maheshwarri |
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Designation : |
Whole-time director |
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Address : |
21-22, Maket Tower, “I” Cuffe Parade, Mumbai - 400005, Maharashtra, India. |
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Date of Birth/Age : |
12.04.1946 |
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Qualification : |
B.Com, LLB, C.A. |
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Date of Appointment : |
14.06.1986 |
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DIN No.: |
00094358 |
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Name : |
Mrs. Suman Maheshwari |
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Designation : |
Whole-time director |
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Address : |
21-22, Maket Tower, “I” Cuffe Parade, Mumbai - 400005, Maharashtra, India. |
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Date of Birth/Age : |
10.05.1950 |
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Qualification : |
Graduate |
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Date of Appointment : |
17.07.1986 |
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PAN No.: |
AABPM4269J |
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Voter ID No. : |
MT-04-019-057203 |
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DIN No.: |
00094423 |
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Name : |
Mr. Ramesh Achuthan Thayyil |
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Designation : |
Director |
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Address : |
7- B/2, IInd Floor, Amol Nagar, Naigaon, West Papdy, Thane – 401207, Maharashtra, India. |
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Date of Appointment : |
01.04.2016 |
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DIN No.: |
00705045 |
KEY EXECUTIVES
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Name : |
Palak Malviya |
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Designation : |
Company Secretary |
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Address : |
943 Sudama Nagar, Indore – 452009, Madhya Pradesh, India |
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Date of Appointment : |
25.07.2016 |
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PAN No.: |
FGZPS6778H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
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Sam Farms and Foods Private Limited, India |
|
160900 |
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Sam Holding (Bombay) Private Limited, India |
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161100 |
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Sam Project Developers Private Limited, India |
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161350 |
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Celestial Commercial Private Limited, India |
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19212 |
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Sam Hoteliers and Resorts Private Limited, India |
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62038 |
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Sam Spintex Limited, India |
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73838 |
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Dwekam Weldtech Private Limited, India |
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44773 |
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Gaurang Metals Private Limited, India |
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22584 |
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Steward Trading and Investment Private Limited, India |
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7084 |
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Arnav A. Maheshwari |
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17510 |
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Arvind A Maheshwari HUF |
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18256 |
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D&H Secheron Impex Private Limited, India |
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34000 |
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A. H. Maheshwarri HUF |
|
8500 |
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Suman A Maheshwari |
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8500 |
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Anisha Realty Private Limited, India |
|
13650 |
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Aam Venture Private Limited, India |
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13650 |
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Total |
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826945 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
6.38 |
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Promoter - Bodies
corporate |
93.62 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of manufacturing and sale of Industrial Welding Electrodes and Consumables. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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 : |
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Facilities : |
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Auditors : |
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Name : |
G V Rangnekar and Company Chartered Accountants |
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Address : |
128 Mahankal Road, Opposite Mahankaleshwar Temple, Rangna Building, Indore, Madhya Pradesh, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFG4195R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Company
: |
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Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
U31102MP1980PTC001704
U45203MH2008PTC184216
L70102MP1994PLC041416
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CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
990000 |
Equity Shares |
INR 100/- each |
INR 99.000 Million |
|
10000 |
Preference Shares |
INR 100/- each |
INR 1.000 Million |
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|
Total |
|
INR 100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
826945 |
Equity Shares |
INR 100/- each |
INR 82.695
Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET – STANDALONE
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
82.695 |
82.695 |
81.132 |
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(b) Reserves &
Surplus |
507.786 |
485.520 |
472.693 |
|
(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) |
590.481 |
568.215 |
553.825 |
|
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(3) Non-Current
Liabilities |
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|
|
|
(a) long-term borrowings |
140.494 |
125.007 |
80.761 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
10.738 |
10.738 |
12.489 |
|
Total Non-current
Liabilities (3) |
151.232 |
135.745 |
93.250 |
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(4) Current Liabilities |
|
|
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|
(a) Short term borrowings |
231.719 |
157.144 |
193.014 |
|
(b) Trade payables |
257.773 |
196.862 |
301.904 |
|
(c) Other current
liabilities |
106.377 |
169.902 |
135.754 |
|
(d) Short-term provisions |
26.044 |
25.047 |
5.191 |
|
Total Current Liabilities
(4) |
621.913 |
548.955 |
635.863 |
|
|
|
|
|
|
TOTAL |
1363.626 |
1252.915 |
1282.938 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
170.784 |
187.171 |
212.525 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.322 |
|
(iii) Capital
work-in-progress |
234.936 |
208.924 |
171.997 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
228.019 |
204.926 |
209.663 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
61.526 |
60.223 |
61.206 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
695.265 |
661.244 |
655.713 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
268.410 |
212.254 |
241.528 |
|
(c) Trade receivables |
225.253 |
179.819 |
188.964 |
|
(d) Cash and cash
equivalents |
23.684 |
40.337 |
42.555 |
|
(e) Short-term loans and
advances |
150.679 |
158.920 |
153.660 |
|
(f) Other current assets |
0.335 |
0.341 |
0.518 |
|
Total Current Assets |
668.361 |
591.671 |
627.225 |
|
|
|
|
|
|
TOTAL |
1363.626 |
1252.915 |
1282.938 |
PROFIT
& LOSS ACCOUNT – STANDALONE
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1773.725 |
1826.664 |
2047.615 |
|
|
Other Income |
30.054 |
(39.929) |
53.793 |
|
|
TOTAL |
1803.779 |
1786.735 |
2101.408 |
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
975.759 |
957.355 |
1189.674 |
|
|
Purchases of
Stock-in-Trade |
87.761 |
129.935 |
176.247 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(34.814) |
6.725 |
13.012 |
|
|
Employees benefits
expense |
200.597 |
211.066 |
209.054 |
|
|
CSR Expenditure |
1.160 |
0.000 |
0.000 |
|
|
Other expenses |
480.792 |
397.619 |
382.877 |
|
|
Prior Period Items |
(6.080) |
0.090 |
(1.516) |
|
|
TOTAL |
1705.175 |
1702.790 |
1969.348 |
|
|
|
|
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|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
98.604 |
83.945 |
132.060 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
37.483 |
34.938 |
48.504 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
61.121 |
49.007 |
83.556 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
26.243 |
37.185 |
39.684 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
34.878 |
11.822 |
43.872 |
|
|
|
|
|
|
|
Less |
TAX |
9.343 |
3.865 |
13.742 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
25.535 |
7.957 |
30.130 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
84.279 |
70.742 |
60.435 |
|
|
TOTAL EARNINGS |
84.279 |
70.742 |
60.435 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
53.805 |
69.574 |
66.515 |
|
|
Components and Stores
parts |
0.069 |
0.827 |
0.000 |
|
|
TOTAL IMPORTS |
53.874 |
70.401 |
66.515 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
30.88 |
9.62 |
37.14 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
69.941 |
76.237 |
71.716 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
46.35 |
35.93 |
33.68 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
7.87 |
10.16 |
10.84 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
88.47 |
66.09 |
80.67 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.37 |
0.40 |
0.55 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.24 |
0.21 |
0.34 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.56 |
0.54 |
0.56 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.63 |
0.50 |
0.49 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.05 |
0.97 |
1.15 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.69 |
0.70 |
0.69 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.63 |
2.40 |
2.72 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.44 |
0.44 |
1.47 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.87 |
0.64 |
2.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
4.32 |
1.40 |
5.44 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.07 |
1.08 |
0.99 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.64 |
0.69 |
0.61 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.43 |
0.45 |
0.43 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.50 |
3.41 |
3.37 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.07 |
1.08 |
0.99 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
81.132 |
82.695 |
82.695 |
|
Reserves & Surplus |
472.693 |
485.520 |
507.786 |
|
Net worth |
553.825 |
568.215 |
590.481 |
|
|
|
|
|
|
long-term borrowings |
80.761 |
125.007 |
140.494 |
|
Short term borrowings |
193.014 |
157.144 |
231.719 |
|
Total borrowings |
273.775 |
282.151 |
372.213 |
|
Debt/Equity ratio |
0.494 |
0.497 |
0.630 |
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 |
2047.615 |
1826.664 |
1773.725 |
|
|
|
(10.791) |
(2.898) |
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 |
2047.615 |
1826.664 |
1773.725 |
|
Profit |
30.130 |
7.957 |
25.535 |
|
|
1.47% |
0.44% |
1.44% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
82.695 |
82.695 |
|
(b) Reserves &
Surplus |
|
521.943 |
492.355 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
604.638 |
575.050 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
214.894 |
212.554 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
10.738 |
10.738 |
|
Total Non-current
Liabilities (3) |
|
225.632 |
223.292 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
231.719 |
157.144 |
|
(b) Trade payables |
|
257.773 |
196.861 |
|
(c) Other current
liabilities |
|
107.517 |
187.027 |
|
(d) Short-term provisions |
|
26.044 |
8.973 |
|
Total Current Liabilities
(4) |
|
623.053 |
550.005 |
|
|
|
|
|
|
TOTAL |
|
1453.323 |
1348.347 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
258.987 |
275.374 |
|
(ii) Intangible Assets |
|
73.738 |
73.738 |
|
(iii) Capital
work-in-progress |
|
234.936 |
208.923 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
148.339 |
131.188 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
61.526 |
60.223 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
777.526 |
749.446 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
268.410 |
212.254 |
|
(c) Trade receivables |
|
225.253 |
179.819 |
|
(d) Cash and cash
equivalents |
|
30.572 |
46.751 |
|
(e) Short-term loans and
advances |
|
151.227 |
159.735 |
|
(f) Other current assets |
|
0.335 |
0.342 |
|
Total Current Assets |
|
675.797 |
598.901 |
|
|
|
|
|
|
TOTAL |
|
1453.323 |
1348.347 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
1773.725 |
1826.664 |
|
|
Other Income |
|
30.093 |
-39.921 |
|
|
TOTAL |
|
1803.818 |
1786.743 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
975.759 |
957.355 |
|
|
Purchases of
Stock-in-Trade |
|
87.761 |
129.935 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(34.814) |
6.725 |
|
|
Employees benefits
expense |
|
200.597 |
211.066 |
|
|
Other expenses |
|
484.191 |
400.102 |
|
|
Prior Period Items |
|
(6.080) |
0.091 |
|
|
TOTAL |
|
1707.414 |
1705.274 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
96.404 |
81.469 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
40.219 |
38.613 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
|
56.185 |
42.856 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
26.243 |
37.185 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
29.942 |
5.671 |
|
|
|
|
|
|
|
Less |
TAX |
|
9.343 |
3.865 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
20.599 |
1.806 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
24.91 |
2.18 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
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 |
Yes |
|
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 |
BACKGROUND
The Company is engaged in the manufacture and marketing of a range of welding consumables primarily in India with few other countries. The business activities of the Company, in a dynamic business environment, do carry various internal and external risks. The directors have defined and have taken effective measures to deal with the following risks and its management
COMPANY'S OPERATIONS
DURING THE YEAR
During the year, the company has performed moderately under depressive market demand and increasing competition due to better capacity utilization by the industry as a whole. However, the company has been able to generally maintain the turnover level of the company in comparison to last financial year. However looking at overall market factors and govt. announcements it is expected that demand will be generated 2017-18.
The up gradation and modernization is continuously going on in the company whereby additional machineries have been procured/ installed at different units in order to keep the company compatible to all kinds of expected competition.
FUTURE OUTLOOK
With ongoing efforts at the management end and expected
improvement in the sentiments of overall Indian economy, the Directors are
hopeful of better performance by the company in the ensuing year 2017-18. The
company would be able to properly and effectively wither away competition which
may arise in near future.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from banks |
72.592 |
41.695 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Intercorporate borrowings |
65.088 |
16.058 |
|
Rupee term loans from banks |
4.019 |
3.373 |
|
|
|
|
|
Total |
141.699 |
61.126 |
INDEX
OF CHARGES:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G70575766 |
100141212 |
PIRAMAL HOUSING FINANCE LIMITED |
12/12/2017 |
- |
- |
93000000.0 |
2nd Floor, Piramal Tower, Peninsula Corporate ParkGanpatrao Kadam Marg, Lower ParelMumbaiMa400013IN |
|
2 |
G72925621 |
100145023 |
UNION BANK OF INDIA |
28/11/2017 |
- |
- |
510000.0 |
B/6 AGRAWAL PLAZAHIG MAIN ROADINDOREMP452018IN |
|
3 |
G73446056 |
100146803 |
HDFC BANK LIMITED |
13/10/2017 |
- |
- |
5200000.0 |
HDFC Bank HouseSenapati Bapat Marg, Lower Parel WestMumbaiMH400013IN |
|
4 |
C78656766 |
10619339 |
UNION BANK OF INDIA |
30/12/2015 |
- |
- |
600000.0 |
1/3 MURAI MOHALLA SANYOGITA GANJ INDOREMP 452 001INDOREMP452001IN |
|
5 |
C72180029 |
10606189 |
UNION BANK OF INDIA |
02/11/2015 |
- |
- |
1000000.0 |
1/3 MURAI MOHALLA SANYOGITA GANJ INDOREMP 452 001INDOREMP452001IN |
|
6 |
C60720455 |
10583905 |
ICICI BANK LIMITED |
26/05/2015 |
- |
- |
1630000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
7 |
C04724662 |
10495530 |
UNION BANK OF INDIA |
27/03/2014 |
- |
- |
900000.0 |
B/6 AGARWAL PLAZA,HIG MAIN ROADINDORE (M.P)INDOREMP452001IN |
|
8 |
B68220888 |
10403253 |
UNION BANK OF INDIA |
21/01/2013 |
- |
- |
481000.0 |
Union Loan Point, 2/2, Old Palasiya,IKDC Campus,IndoreMP452018IN |
|
9 |
B68221217 |
10403256 |
UNION BANK OF INDIA |
21/01/2013 |
- |
- |
732000.0 |
UNION LOAN POINT, 2/2, OLD PALASIYA,IKDC CAMPUSINDOREMP452018IN |
|
10 |
B62537188 |
10387928 |
FULLERTON INDIA CREDIT COMPANY LIMITED |
31/10/2012 |
- |
- |
50000000.0 |
Megh Towers, Third Floor, Old No-307,New No-165, Poonamallee High Road, Maduravoyal,ChennaiTN600095IN |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Factory equipment
- Vehicles
- Motor vehicles
- Office 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 63.91 |
|
|
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
JYO |
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.