|
|
|
MIRA INFORM REPORT
|
Report No. : |
492126 |
|
Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
KUNTAL GRANITES PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
1A-Anchorage Ground Floor, 7 Vacchagandhi Road, New Gamdevi, Mumbai – 400007, Maharashtra |
|
Tel. No.: |
91-22-23805367 / 66648643 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
17.11.1988 |
|
|
|
|
Com. Reg. No.: |
11-049659 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 49.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U14290MH1988PTC049659 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK2174Q |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Processor of Granite Slabs and Tiles.
(Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 170000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Kuntal Granites private Limited is a manufacturer and exporter of
granite slab. The company was incorporated in the year 1988 and is based in Mumbai,
Maharashtra. It is an established company having moderate track records. The company continuously incurring losses from its two years of
operational activities which has further resulted into deterioration in
reserves level. The rating is also constrained on account of large working capital
requirement and average financial risk profile because of high gearing. However, the rating weakness is partially offset by company’s long
standing track record of business operation. Tarde relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. The company can be considered for business dealings with some caution. |
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 (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 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. Kunal |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-23805367 |
|
Date : |
16.02.2018 |
91-4344-291919 (NOT WORKING)
LOCATIONS
|
Registered Office : |
1A-Anchorage Ground Floor, 7 Vacchagandhi Road, New Gamdevi, Mumbai – 400007, Maharashtra, India |
|
Tel. No.: |
91-22-23805367 / 66648643 |
|
Fax No.: |
91-22-23806039 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Hubli Office : |
Next to Electric Grid, Karwar Road, Hubli - 580024, Karnataka, India |
|
Tel. No.: |
91-836-2201244 |
|
E-Mail : |
|
|
|
|
|
Hosur Factory : |
S.
No. 58/1B, Addaguruki, Rawthupalli Village, Kamanadoddi, Dasanapura Road,
Hosur - 635109, Tamilnadu, India |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Mahesh
Chhotalal Gandhi |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
7, Krishna Kunj,
3rd Floor, 212, Walkeshwar Road, Mumbai – 400006, Maharashtra,
India |
||||||||
|
Date of Appointment : |
17.11.1988 |
||||||||
|
DIN No.: |
00166159 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Mohan
Pandurang Gudi |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
Flat No. 102, MIG
4, Akshay Park, Gokul Road, Hubli – 580030, Karnataka, India |
||||||||
|
Date of Appointment : |
08.01.1991 |
||||||||
|
DIN No.: |
00166315 |
||||||||
|
|
|
||||||||
|
Name : |
Mr. Kempaiah
Rangappa |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
Bangalore Ramaiah
Prema, Shiva 112 III Cross, III Phase, J. P. Nagar, Bangalore – 560078,
Karnataka, India |
||||||||
|
Date of Appointment : |
18.01.1993 |
||||||||
|
DIN No.: |
00292824 |
||||||||
|
|
|
||||||||
|
Name : |
Mr. Ashish
Jyotindra Bhuta |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
507, Mahavir Apt,
Tardeo Road, Mumbai – 400007, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
07.06.1975 |
||||||||
|
Date of Appointment : |
02.04.2008 |
||||||||
|
DIN No.: |
02149827 |
||||||||
|
|
|
||||||||
|
Name : |
Mrs. Kajal Ashish
Bhuta |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
Ganga Jamuna CHS,
Mahavir Apt 241 Tardeo Road, Flat No - 501, Mumbai 400007, Maharashtra, India
|
||||||||
|
Date of Birth/Age : |
16.11.1981 |
||||||||
|
Date of Appointment : |
02.04.2008 |
||||||||
|
DIN No.: |
02149834 |
||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Mahesh Chhotalal Gandhi jointly with Bharti M. Gandhi |
|
248000 |
|
Bharati Mahesh Gandhi jointly with Mahesh C. Gandhi |
|
2000 |
|
Ashish Jyotindra Bhuta jointly With Kajal A. Bhuta |
|
122500 |
|
Kajal Ashish Bhuta jointly with Ashish Bhuta |
|
122500 |
|
|
|
|
|
Total |
|
495000 |
Equity Share Break up (Percentage of Total Equity)
As on 21.08.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided Family
– Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Processor of Granite Slabs and Tiles.
(Registered activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Ruvala Bhatt and Associates-LLP Chartered Accountants |
|
Address : |
Ground Floor, Anchorage, 7 Vachha Gandhi Road, Gamdevi, Mumbai – 400007, Maharashtra, India |
|
Tel. No.: |
91-022 / 23806761 / 2380 2784 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAUFR1963P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
495000 |
Equity Shares |
INR 100/- each |
INR 49.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
495000 |
Equity Shares |
INR 100/- each |
INR 49.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
49.500 |
49.500 |
49.500 |
|
(b) Reserves &
Surplus |
9.385 |
23.784 |
39.882 |
|
(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) |
58.885 |
73.284 |
89.382 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
83.387 |
104.522 |
132.391 |
|
(b) Deferred tax
liabilities (Net) |
21.298 |
21.829 |
20.936 |
|
(c) Other long term
liabilities |
2.268 |
2.268 |
2.268 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
106.953 |
128.619 |
155.595 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
189.955 |
192.486 |
164.660 |
|
(b) Trade payables |
23.277 |
13.669 |
14.264 |
|
(c) Other current liabilities |
7.091 |
7.483 |
7.135 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
220.323 |
213.638 |
186.059 |
|
|
|
|
|
|
TOTAL |
386.161 |
415.541 |
431.036 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
153.978 |
166.075 |
176.008 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.807 |
0.807 |
0.807 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.324 |
2.916 |
3.039 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
158.109 |
169.798 |
179.854 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
168.968 |
168.719 |
184.188 |
|
(c) Trade receivables |
42.708 |
59.062 |
47.776 |
|
(d) Cash and cash
equivalents |
4.900 |
5.254 |
7.313 |
|
(e) Short-term loans and
advances |
11.241 |
12.615 |
11.810 |
|
(f) Other current assets |
0.235 |
0.093 |
0.095 |
|
Total Current Assets |
228.052 |
245.743 |
251.182 |
|
|
|
|
|
|
TOTAL |
386.161 |
415.541 |
431.036 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
293.687 |
316.401 |
375.051 |
|
|
Other Income |
12.391 |
7.140 |
14.217 |
|
|
TOTAL |
306.078 |
323.541 |
389.268 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
179.625 |
162.121 |
204.923 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(21.750) |
12.905 |
(34.549) |
|
|
Manufacturing Expense |
75.397 |
74.406 |
96.161 |
|
|
Employees benefits
expense |
26.009 |
22.751 |
22.881 |
|
|
Other expenses |
34.019 |
37.208 |
33.181 |
|
|
TOTAL |
293.300 |
309.391 |
322.597 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
12.778 |
14.150 |
66.671 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
16.340 |
17.972 |
19.415 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(3.562) |
(3.822) |
47.256 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
11.367 |
11.383 |
12.338 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(14.929) |
(15.205) |
34.918 |
|
|
|
|
|
|
|
Less |
TAX |
(0.531) |
0.893 |
21.655 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(14.398) |
(16.098) |
13.263 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
23.784 |
39.882 |
26.619 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
9.386 |
23.784 |
39.882 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
291.154 |
314.307 |
371.601 |
|
|
TOTAL EARNINGS |
291.154 |
314.307 |
371.601 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
25.909 |
23.492 |
37.366 |
|
|
TOTAL IMPORTS |
25.909 |
23.492 |
37.366 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(29.09) |
(35.52) |
27.43 |
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 |
15.982 |
22.573 |
35.318 |
|
Net cash flow from operating activity |
15.317 |
21.956 |
19.311 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
53.08 |
68.13 |
46.50 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
6.88 |
5.36 |
7.85 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
47.30 |
30.77 |
25.41 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.08 |
0.08 |
0.36 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.08 |
0.09 |
0.38 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.79 |
0.77 |
0.74 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
4.64 |
4.05 |
3.32 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.74 |
2.92 |
2.08 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
2.61 |
2.27 |
1.97 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.78 |
0.79 |
3.43 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
(4.90) |
(5.09) |
3.54 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(3.73) |
(3.87) |
3.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(24.45) |
(21.97) |
14.84 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.04 |
1.15 |
1.35 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.27 |
0.36 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.15 |
0.18 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
5.52 |
6.00 |
6.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.04 |
1.15 |
1.35 |
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 |
49.500 |
49.500 |
49.500 |
|
Reserves & Surplus |
39.882 |
23.784 |
9.385 |
|
Net
worth |
89.382 |
73.284 |
58.885 |
|
|
|
|
|
|
Long Term borrowings |
132.391 |
104.522 |
83.387 |
|
Short Term borrowings |
164.660 |
192.486 |
189.955 |
|
Total
borrowings |
297.051 |
297.008 |
273.342 |
|
Debt/Equity
ratio |
3.323 |
4.053 |
4.642 |
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
|
375.051 |
316.401 |
293.687 |
|
|
|
(15.638) |
(7.179) |
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
|
375.051 |
316.401 |
293.687 |
|
Profit
/ (Loss) |
13.263 |
(16.098) |
(14.398) |
|
|
3.54% |
(5.09%) |
(4.90%) |
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 |
No |
|
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL HIGHLIGHT
The export sales including the sales in OTA of the company during the year has been INR 293.687 Million, as against the sales of INR. 316.401 Million achieved during the previous year, amounting to a reduction of around 07.18 % in sales. The total revenue of the company during the year stood at INR 306.078 Million, as against INR 323.541 Million during the previous financial year. The Net Loss of the company is INR 14.398 Million during the current year from loss of INR 16.098 Million during the previous year INR due to bad market conditions internationally and increased costs-of input as well as additional cost towards participation in Exhibitions and sales promotion towards abroad
The exports in terms of quantity during the year was 88,854 Sq. Mt INR as against 88,527 Sq. Mt INR During the previous year.
BUSINESS OPERATIONS
The company's performance has declined due to decreased in sales volumes, as the international competition from mainly Brazil, which has been able to lower Its finished slabs prices by as much as 30% because its currency "Real" has weakened by a huge percentage. Besides the cost of inputs for the company, including raw granite blocks, imported packing wood, transport and the manpower has gone-up considerably, resulting in the drop of profit margins. The management has initiated several steps to lower the input costs, to become more competitive to increase its export sales.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term Borrowings |
|
|
|
From a Director (Free of Interest) |
82.220 |
79.220 |
|
|
|
|
|
Total |
82.220 |
79.220 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
Y10317443 |
90215544 |
STATE BANK OF INDIA |
26/03/1997 |
23/10/2000 |
- |
48742000.0 |
COMMERCIAL BRANCH; ANJUMAN COMPLEXSTATION ROADHUBLIKA580020IN |
|
2 |
Y10317204 |
90215305 |
STATE BANK OF INDIA |
03/12/1991 |
03/04/2002 |
- |
3277000.0 |
COMMERCIAL BRANCHSTATION ROADHUBLIKA580020IN |
|
3 |
G04230827 |
90212228 |
State Bank of India |
03/12/1991 |
29/02/2016 |
- |
303500000.0 |
COMMERCIAL BRANCH, ANJUMAN COMPLEX,STATION ROAD,HUBLIKA580020IN |
|
4 |
A20460341 |
90212217 |
KARNATAKA STATE FINANCIAL CORPORATION |
05/10/1991 |
- |
24/07/2007 |
1910000.0 |
NO. 25M.G. ROADBANGALOREKA560001IN |
|
5 |
A20319240 |
90212248 |
KARNATAKA STATE FINANCIAL CORPORATION |
06/03/1992 |
- |
24/07/2007 |
2750000.0 |
NO. 25; M.G. ROADSHANKARANARAYANA BUILDINGSBANGALOREKA580001IN |
|
6 |
A20316261 |
90210815 |
KARNATAKA STATE FINANCIAL CORPORATION |
16/05/1990 |
- |
24/07/2007 |
6000000.0 |
NO. 25; M.G. ROADBANGALOREKA560001IN |
|
7 |
A20319422 |
90212071 |
KARNATAKA STATE INDUSTRIAL INVESTMENT & DEVELOP. CORPN. LTD. |
17/05/1990 |
23/01/1991 |
24/07/2007 |
9000000.0 |
MSIL HOUSE; 36CUNNINGHAM ROAD;BANGALOREKA560052IN |
FIXED ASSETS
- Freehold Land at Belur
- Building
- Plant and machineries
- Furniture and Fixtures
- Office Equipments
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON DESIGNATED
PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.93 |
|
|
1 |
INR 89.55 |
|
Euro |
1 |
INR 79.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KJL |
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 |
NO |
|
--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.