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|
|
MIRA INFORM REPORT
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Report No. : |
492463 |
|
Report Date : |
17.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SHREE PADMANABH ISPAT PRIVATE LIMITED |
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|
|
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Registered
Office : |
Shree Prashantha Nivas, H No. 57, 1st Line, 3rd
Cross Near OPD, Sowdagar Colony, Vidyanagar, Cantonment, Bellary-583104,
Karnataka |
|
Mobile No.: |
91-9243249777 (Mr. Pollysetty Rao Venkata Srinivasa) |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
03.03.2006 |
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Com. Reg. No.: |
11-038645 |
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Capital
Investment / Paid-up Capital : |
INR 2.898 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U27101KA2006PTC038645 |
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|
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IEC No.: |
Not Divulged |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAECR8116P |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2006 having satisfactory track record. It is engaged as manufacturer and exporter of sponge iron. As per the financial record of 2017, the revenue of the company has sharply declined as compared to its previous year but has maintained average profit margin. Rating takes into consideration, the satisfactory financial risk profile marked by adequate net worth base and comfortable debt protection metrics. Rating continue to derive strength from its established track record of its business operation backed by its well experienced promoters and management team in steel industry. However, these ratings strengths are partially offset by large working capital requirement due to fragmented and highly competitive steel industry. These factors result to inability of subject to scale up its operations without facing profitability pressures. Payments seems to be usually 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
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 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Pollysetty Rao Venkata Srinivasa |
|
Designation : |
Director |
|
Contact No.: |
91-9243249777 |
|
Date : |
16.02.2018 |
LOCATIONS
|
Registered Office : |
Shree Prashantha Nivas, H No. 57, 1st Line, 3rd
Cross Near OPD, Sowdagar Colony, Vidyanagar, Cantonment, Bellary-583104,
Karnataka, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9243249777 (Mr. Pollysetty Rao Venkata Srinivasa) |
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Fax No.: |
Not Available |
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E-Mail : |
|
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Factory : |
S.Y.No.788/1, Thumti Road, Belgal Village, Bellary-583115, Karnataka,
India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Pollysetty Rao Venkata Srinivasa |
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|
Designation : |
Director |
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Address : |
Plot No. 2, Vinayaka Park Near Basant Corner, Telebandha, Raipur-492006, Chhattisgarh, India |
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Date of Birth/Age : |
10.07.1969 |
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Date of Appointment : |
03.03.2006 |
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DIN No.: |
00214205 |
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Other Directorship:
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Name : |
Polisetty Nageswara Rao |
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Designation : |
Director |
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Address : |
House No.57, Ward No.31, 3rd West, Sowdagar Colony Vidyanagar, Cantonment, Bellary-583104, Karnataka, India |
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Date of Birth/Age : |
09.11.1948 |
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Date of Appointment : |
21.02.2008 |
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DIN No.: |
02007387 |
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Other Directorship:
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Name : |
Pushpalatha Polisetty |
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Designation : |
Director |
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Address : |
House No. 57, 1st Lane, Sowdagar Colony, Near OPD, Vidyanagar, Cant Bellary-583104, Karnataka, India |
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Date of Birth/Age : |
24.03.1975 |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
03201409 |
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Name : |
Hymavati Polisetty |
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Designation : |
Director |
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Address : |
H No. 57, I St Line, 3rd Cross West, Soudagar Colony, Vidyanagar, Bellary -583104, Karnataka, India |
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Date of Birth/Age : |
08.10.1953 |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
03201486 |
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MAJOR SHAREHOLDERS
AS ON 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Polisetty Venkata Srinivasa Rao |
|
21045 |
|
Polisttty Nageswara Rao |
|
3700 |
|
Polisetty Pushpalatha |
|
3600 |
|
Polisetty Hymavati |
|
625 |
|
Mahesh Chand Bhutra |
|
3 |
|
Ankush Bhutra |
|
2 |
|
Total |
|
28975 |
AS ON 30.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
99.98 |
|
Public/Other than promoters - Individual/Hindu Undivided Family – Indian |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Dubai |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Advance Payment, L/C and Credit (30 Days) |
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Purchasing : |
Advance Payment, L/C and Credit (30 Days) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEM’s
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
SHORT TERM BORROWINGS Note: The company has availed Cash Credit facility from Andhra Bank, K C Road, Bellary to the tune of INR 200 Lakhs and the said facility is repayable on demand having a tenure of One year and is secured by way of hypothecation of stock in trade and receivables and Equitable Mortgage of lmmovable Land and Building belonging to the Company at Plot No 91, Plot No 94, 95 and 96, Kondaiah Colony, Airport Road, Bellary and Land at Sy No 41/, 41/2, 41/3, 42.3 & 42/4 located at Halavarthi Village, Koppal District. The said facility has been sanctioned at rate of interest of base rate+ 4.00% and charge has been created on the securities in accordance with the provisions of Companies Act, 2013 |
|
Auditors : |
|
|
Name : |
Pavan Jain S and Company Chartered Accountants |
|
Address : |
Shop No.B1, Second Floor, Balaji Plaza, Raghavendra Talkies Road,
Bellary- 583101, Karnataka, India |
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Tel. No.: |
91-8392-277888 |
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Mobile No.: |
91-9986580381 |
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E-Mail : |
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PAN No.: |
AHGPJ9389J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates Companies : |
|
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 100/- each |
INR 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28975 |
Equity Shares |
INR 100/- each |
INR 2.898 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
2.898 |
2.898 |
2.898 |
|
(b) Reserves &
Surplus |
10.970 |
10.321 |
8.807 |
|
(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) |
13.868 |
13.219 |
11.705 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.017 |
0.202 |
0.366 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.421 |
0.422 |
0.422 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.438 |
0.624 |
0.788 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
27.848 |
29.638 |
1.319 |
|
(b) Trade payables |
5.106 |
20.028 |
5.100 |
|
(c) Other current
liabilities |
0.379 |
0.345 |
0.298 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
33.333 |
50.011 |
6.717 |
|
|
|
|
|
|
TOTAL |
47.639 |
63.854 |
19.210 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
13.265 |
12.206 |
12.415 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.554 |
0.523 |
0.549 |
|
(d) Long-term Loan and Advances |
0.188 |
0.181 |
0.079 |
|
(e) Other Non-current
assets |
1.938 |
1.939 |
1.939 |
|
Total Non-Current Assets |
15.945 |
14.849 |
14.982 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.557 |
0.000 |
0.000 |
|
(c) Trade receivables |
27.454 |
47.181 |
3.365 |
|
(d) Cash and cash
equivalents |
3.243 |
1.653 |
0.558 |
|
(e) Short-term loans and
advances |
0.440 |
0.171 |
0.305 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
31.694 |
49.005 |
4.228 |
|
|
|
|
|
|
TOTAL |
47.639 |
63.854 |
19.210 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
92.972 |
151.665 |
16.718 |
|
|
Other Income |
0.428 |
0.516 |
0.196 |
|
|
TOTAL |
93.400 |
152.181 |
16.914 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
84.504 |
141.684 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.557) |
0.000 |
0.000 |
|
|
Employees benefits
expense |
2.607 |
5.595 |
12.721 |
|
|
Other expenses |
2.010 |
1.336 |
1.803 |
|
|
TOTAL |
88.564 |
148.615 |
14.524 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4.836 |
3.566 |
2.390 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
3.373 |
1.030 |
0.149 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1.463 |
2.536 |
2.241 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.495 |
0.401 |
0.486 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
0.968 |
2.135 |
1.755 |
|
|
|
|
|
|
|
Less |
TAX |
0.319 |
0.620 |
0.404 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.649 |
1.515 |
1.351 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
22.41 |
52.28 |
46.61 |
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 |
8.965 |
(25.517) |
1.663 |
|
Net cash flow from operating activities |
8.492 |
(26.132) |
0.960 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
107.78 |
113.55 |
73.47 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
3.39 |
3.21 |
4.97 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
22.05 |
51.60 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
8.68 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.36 |
0.29 |
0.19 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.70 |
0.79 |
0.37 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.01 |
2.26 |
0.14 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.40 |
3.78 |
0.57 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.96 |
0.92 |
1.06 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.43 |
3.46 |
16.04 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
0.70 |
1.00 |
8.08 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.36 |
2.37 |
7.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.68 |
11.46 |
11.54 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.95 |
0.98 |
0.63 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.93 |
0.98 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.29 |
0.21 |
0.61 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
9.62 |
10.30 |
0.58 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.95 |
0.98 |
0.63 |
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 |
2.898 |
2.898 |
2.898 |
|
Reserves & Surplus |
8.807 |
10.321 |
10.970 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
11.705 |
13.219 |
13.868 |
|
|
|
|
|
|
long-term borrowings |
0.366 |
0.202 |
0.017 |
|
Short term borrowings |
1.319 |
29.638 |
27.848 |
|
Total borrowings |
1.685 |
29.840 |
27.865 |
|
Debt/Equity ratio |
0.144 |
2.257 |
2.009 |
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 |
16.718 |
151.665 |
92.972 |
|
|
|
807.196 |
(38.699) |
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 |
16.718 |
151.665 |
92.972 |
|
Profit |
1.351 |
1.515 |
0.649 |
|
|
8.08% |
1.00% |
0.70% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from No.90/1-21 Ward No.25prahanth Colony, Behind Canara Bank,
Cantonment Bellary, Karnataka, India to the
present address w.e.f.22.03.2010.
CORPORATE INFORMATLON
The Company was incorporated in the state of Karnataka on 03rd of March 2006 with objective of providing consultancy services in the field of engineering and undertaking operation and maintenance of Sponge lron plants. During the year under review, the company has commenced trading of lron and Steel and Coal and services of General Commission Agents. The Company has its registered office at "Shree Prashantha Nivas", H No 57, 1st Line, 3rd Cross West, Near OPD, Sowdagar Colony, Vidyanagar, Cantonment, Bellary - 583104. The Company was registered with a nominal capital of INR 10.000 million comprising of 100000 Equity Shares of INR 100 Each.
STATE OF COMPANY
AFFAIRS:
The Directors wish to present the details of Business operations done during the year:
A. PRODUCTION AND PROFITABILITY:
The company has earned Net Profit before taxes of INR 0.968 million [Previous year: INR 2.135 million showing a downward trend attributable to demonetization and other policies which have effected the liquidity and movement of goods. The company is positively expecting better future performance considering rationalization of taxes and free flow of credit pursuant to introduction of GST.
B. TURNOVER:
During the year, the company has registered a gross turnover INR 92.972 million [Previous Year: INR 151.665 million showing a downward trend attributable to demonetization and other policies.
C. MARKEING AND MARKET ENVIRONMENT:
The Company is engaged in Operation and Maintenance Services for running the steel plants and also provide consulting services for setting up of steel plants. During the previous year, the Company has diversified its line of business by addition of the business of trading in goods on principal as well as commission basis. The Company has a decade of existence in the said field and has pre established market base for its services.
D. FURURE PROSPECTS INCLUDING CONSTRAINTS AFFECTING DUE TO GOVERNMENT POLICIES:
The Company is engaged in the business of providing operation and maintenance of services to sponge lron Plants and trading of goods in steel industry. The company is expecting to widen its base in new line of business and improve the bottom line in near future considering the increase in demand for steel evidenced by strengthening of prices of steel and raw materials and favourable infrastructure policies of Government. Considering the policies of the Government, the Company is hopeful of getting good business in future.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Short-term
borrowings |
|
|
|
Deposits from
Shareholders |
|
|
|
Ankush Bhutra |
0.000 |
2.300 |
|
Mahesh Chand Bhutra |
0.000 |
5.700 |
|
Loans and advances
from related parties |
|
|
|
P V Srinivasa Rao |
8.513 |
1.864 |
|
Total |
8.513 |
9.864 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Amount |
Address |
|
1 |
C78813748 |
10619646 |
31/12/2015 |
20000000.0 |
K C Road, Bellary-583101, Karnataka, India |
FIXED ASSETS:
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Motor car
- Computer and
Printers
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 : |
SUP |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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.