|
|
|
MIRA INFORM REPORT
|
Report No. : |
492481 |
|
Report Date : |
17.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
TSUGAMI PRECISION ENGINEERING INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A-8, SIPCOT Industrial Growth Centre, Oragadam, Vallam B
Village, Sriperumbudhur, Taluka Kancheepuram - 602105, Tamilnadu |
|
Tel. No.: |
91-44-67176703 |
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|
|
|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation
: |
01.03.2011 |
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|
|
|
Com. Reg. No.: |
18-079422 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 495.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29253TN2011PTC079422 |
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|
|
|
IEC No.: |
0412019043 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AADCT7614H |
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|
|
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GST No.: |
Not Divulged |
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|
|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Selling of Automatic Lathes, CNC Lathes and Grinding Machines. [Registered Activity] |
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|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject
is a subsidiary of “Tsugami Corporation” based in Japan and it was
incorporated in the year 2011. It is
engaged in manufacturing and selling of automatic lathes, CNC lathes
and grinding machines As per
financials of March 2017, the company has registered healthy growth in its
revenue but has reported losses. Rating
takes into consideration the company’s healthy capital base along with low
solvency indicators due to zero debt balance sheet and decent liquidity
position. Rating
also takes into account the strong financial and managerial support received
from its holding entity and well established management team. However,
rating strength is partially offset by negative reserves of the company. Payment
seems to be slow but correct. In view of aforesaid, the company can be taken into consideration for business dealing 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 DECLINED
MANAGEMENT NON-COOPERATIVE [91-44-67176703]
[91-44-271767717] Number is not working
[91-9500091894] Number is ringing
LOCATIONS
|
Registered Office/ Factory : |
Plot No. A-8, SIPCOT Industrial Growth Centre, Oragadam, Vallam B Village,
Sriperumbudhur, Taluka Kancheepuram - 602105, Tamilnadu, India |
|
Tel. No.: |
91-44-67176703/ 67176717 |
|
Fax No.: |
91-44-67176721 |
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E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Kameswaran Balasubramanian |
||||||||||||||||||||||
|
Designation : |
Managing Director |
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|
Address : |
No 11 , Spring Gardens, I Street , Akkarai , E.C.R Road, Chennai-600119, Chennai, India |
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Date of Birth/Age : |
28.03.1960 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
07.03.2011 |
||||||||||||||||||||||
|
PAN No.: |
AAFPB8071K |
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DIN No.: |
00222343 |
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||||||||||||||||||||||
|
Name : |
Mr. Kameswaran Vaidyanathan |
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Designation : |
Director |
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Address : |
A-4, Ramaniam Saileela 35, Balakrishna Road, Thiruvanmiyur, Chennai – 600041, Tamilnadu, India |
||||||||||||||||||||||
|
Date of Appointment : |
01.04.2014 |
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DIN No.: |
00222592 |
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||||||||||||||||||||||
|
Name : |
Mr. Takao Nishijima |
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Designation : |
Director |
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Address : |
3-13-10, Kitakokubun Ichikawa-Shi Chiba 2720836 Japan |
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Date of Birth/Age : |
14.12.1947 |
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Date of Appointment : |
07.03.2011 |
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DIN No.: |
03364702 |
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Name : |
Mr. Mami Matsushita |
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Designation : |
Director |
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Address : |
402 Modulor Asagaya - Minami 1-14-17 Asagaya-Minami, Suginami-Ku Tokyo 1600004 Japan |
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Date of Birth/Age : |
03.07.1964 |
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Date of Appointment : |
07.03.2011 |
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DIN No.: |
03397895 |
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Name : |
Mr. Nobuyuki Nagai |
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Designation : |
Additional Director |
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|
Address : |
Flat No 2803, Brentwood B Wing, Floor 28, Hiranandani Upscale Omr,
Egattur Village, Padur Po, K Kanchipuram 603103 Japan |
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|
Date of Appointment : |
27.03.2014 |
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|
DIN No.: |
06956472 |
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|
||||||||||||||||||||||
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Name : |
Mr. Moriuchi Nobuyuki |
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|
Designation : |
Additional Director |
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|
Address : |
11-4, Matsukazedai, Aoba-Ku Yokohama- Ci, Kanagawa 000000 Japan |
||||||||||||||||||||||
|
Date of Appointment : |
05.01.2016 |
||||||||||||||||||||||
|
DIN No.: |
07365515 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Tsugami Corporation, Japan |
3750000 |
75.76 |
|
Tsugami General Service Company Limited, Japan |
750000 |
15.15 |
|
Proteck Machinery Private Limited, India |
450000 |
9.09 |
|
|
|
|
|
Total |
4950000 |
100.00 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Foreign institutional investors |
90.91 |
|
Public/Other than promoters - Body Corporate |
9.09 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Automatic Lathes, CNC Lathes and Grinding Machines. [Registered Activity] |
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Products : |
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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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||||
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: [NOT AVAILABLE]
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Bank of Tokyo and Mitsubishi Limited · ICICI Bank Limited · State Bank of India ·
Citi Bank N.A. |
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|
|
|
Auditors : |
|
|
Name : |
Chandran and Raman Chartered Accountants |
|
Address : |
No.02, Paragon, D R Radhakrishnan Salai, 2nd Street, Mylapore, Chennai, Tamilnadu, India |
|
PAN No.: |
AAAFC3239R |
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|
|
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
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|
Associate
Company : |
Proteck Machinery Private Limited [U31900TN1985PTC012310] |
|
|
|
|
Subsidiary Company
: |
Tsugami Tech Solutions India Private limited [U74999TN2011PTC080910] |
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|
|
|
Holding Company: |
Tsugami Corporation |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 100/- each |
INR 1000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4950000 |
Equity Shares |
INR 100/- each |
INR 495.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
495.000 |
495.000 |
495.000 |
|
(b) Reserves and Surplus |
(68.776) |
(68.751) |
(44.863) |
|
(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) |
426.224 |
426.249 |
450.137 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
340.000 |
340.000 |
160.000 |
|
(b) Deferred tax liabilities (Net) |
3.533 |
0.000 |
1.994 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
343.533 |
340.000 |
161.994 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
388.071 |
239.926 |
265.915 |
|
(c) Other
current liabilities |
37.371 |
30.415 |
9.688 |
|
(d) Short-term provisions |
2.506 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
427.948 |
270.341 |
275.603 |
|
|
|
|
|
|
TOTAL |
1197.705 |
1036.590 |
887.734 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
315.628 |
315.317 |
278.654 |
|
(ii)
Intangible Assets |
0.518 |
0.866 |
0.049 |
|
(iii) Tangible assets
capital work-in-progress |
2.275 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.051 |
0.051 |
0.051 |
|
(c) Deferred tax assets (net) |
0.000 |
4.132 |
0.000 |
|
(d)
Long-term loans and advances |
8.358 |
3.886 |
1.035 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
326.830 |
324.252 |
279.789 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
370.450 |
295.731 |
257.076 |
|
(c) Trade
receivables |
21.537 |
6.821 |
16.067 |
|
(d) Cash and
bank balances |
317.660 |
293.815 |
253.217 |
|
(e)
Short-term loans and advances |
161.228 |
115.971 |
81.585 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
870.875 |
712.338 |
607.945 |
|
|
|
|
|
|
TOTAL |
1197.705 |
1036.590 |
887.734 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
630.609 |
259.185 |
181.855 |
|
|
Other Income |
19.798 |
14.326 |
31.254 |
|
|
TOTAL |
650.407 |
273.511 |
213.109 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
507.432 |
244.135 |
143.133 |
|
|
Employee benefit expense |
50.229 |
32.390 |
11.518 |
|
|
Other expenses |
61.699 |
37.455 |
32.278 |
|
|
Extraordinary items |
0.000 |
(30.711) |
0.000 |
|
|
TOTAL |
619.360 |
283.269 |
186.929 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
31.047 |
(9.758) |
26.180 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
7.269 |
5.718 |
0.919 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
23.778 |
(15.476) |
25.261 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
16.138 |
14.539 |
36.587 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
7.640 |
(30.015) |
(11.326) |
|
|
|
|
|
|
|
Less |
TAX |
7.665 |
(6.127) |
(2.147) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(0.025) |
(23.888) |
(9.179) |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
Sale of services |
7.780 |
3.198 |
0.000 |
|
|
Export sales |
0.000 |
0.484 |
0.000 |
|
|
TOTAL EARNINGS |
7.780 |
3.682 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(0.01) |
(4.83) |
(1.85) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
42.221 |
(118.094) |
(11.326) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
54.673 |
(109.486) |
(11.326) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
12.47 |
9.61 |
32.25 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
29.28 |
38.00 |
11.32 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
279.14 |
358.71 |
678.10 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.08 |
(0.03) |
0.10 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.10 |
(0.03) |
0.09 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.64 |
0.59 |
0.49 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.80 |
0.80 |
0.36 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.00 |
0.63 |
0.61 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.75 |
0.74 |
0.62 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.27 |
(1.71) |
28.49 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.00 |
(9.22) |
(5.05) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.00 |
(2.30) |
(1.03) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(0.01) |
(5.60) |
(2.04) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.04 |
2.63 |
2.21 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.17 |
1.54 |
1.27 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.36 |
0.41 |
0.51 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.69 |
0.69 |
0.32 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.04 |
2.63 |
2.21 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in 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 |
495.000 |
495.000 |
495.000 |
|
Reserves & Surplus |
(44.863) |
(68.751) |
(68.776) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
450.137 |
426.249 |
426.224 |
|
|
|
|
|
|
long-term borrowings |
160.000 |
340.000 |
340.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of Long
term debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
160.000 |
340.000 |
340.000 |
|
Debt/Equity
ratio |
0.355 |
0.798 |
0.798 |
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 |
181.855 |
259.185 |
630.609 |
|
|
|
42.523 |
143.305 |
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 |
181.855 |
259.185 |
630.609 |
|
Profit/ (Loss) |
(9.179) |
(23.888) |
(0.025) |
|
|
(5.05
%) |
(9.22
%) |
0.00
% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
495.000 |
495.000 |
|
(b) Reserves and Surplus |
|
(68.864) |
(68.828) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
(0.035) |
(0.025) |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
426.101 |
426.147 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
340.000 |
340.000 |
|
(b) Deferred tax liabilities (Net) |
|
3.533 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
343.533 |
340.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
388.071 |
239.926 |
|
(c) Other
current liabilities |
|
37.416 |
30.463 |
|
(d) Short-term
provisions |
|
2.506 |
0.000 |
|
Total Current
Liabilities (4) |
|
427.993 |
270.389 |
|
|
|
|
|
|
TOTAL |
|
1197.627 |
1036.536 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
315.627 |
315.317 |
|
(ii)
Intangible Assets |
|
0.518 |
0.866 |
|
(iii) Tangible assets
capital work-in-progress |
|
2.276 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
4.132 |
|
(d)
Long-term loans and advances |
|
8.358 |
3.886 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
326.779 |
324.201 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
370.450 |
295.731 |
|
(c) Trade
receivables |
|
21.537 |
6.821 |
|
(d) Cash and
bank balances |
|
317.769 |
293.914 |
|
(e)
Short-term loans and advances |
|
161.092 |
115.869 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
870.848 |
712.335 |
|
|
|
|
|
|
TOTAL |
|
1197.627 |
1036.536 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
630.609 |
259.185 |
|
|
Other Income |
|
19.798 |
14.326 |
|
|
TOTAL |
|
650.407 |
273.511 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
507.432 |
244.135 |
|
|
Employee benefit expense |
|
50.229 |
32.390 |
|
|
Other expenses |
|
61.720 |
37.475 |
|
|
Extraordinary items |
|
0.000 |
(30.711) |
|
|
TOTAL |
|
619.381 |
283.289 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
31.026 |
(9.778) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
7.269 |
5.718 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
23.757 |
(15.496) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
16.138 |
14.539 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
7.619 |
(30.035) |
|
|
|
|
|
|
|
Less |
TAX |
|
7.665 |
(6.127) |
|
|
|
|
|
|
|
|
TOTAL PROFIT (LOSS)
FOR PERIOD BEFORE MINORITY INTEREST |
|
(0.046) |
(23.908) |
|
|
|
|
|
|
|
|
PROFIT (LOSS) OF MINORITY INTEREST |
|
0.010 |
0.010 |
|
|
|
|
|
|
|
|
TOTAL PROFIT (LOSS) FOR PERIOD |
|
(0.036) |
(23.898) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(0.01) |
(4.83) |
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 |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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: NO CHARGES
EXISTS FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Other external commercial borrowings |
340.000 |
340.000 |
|
|
|
|
|
Total |
340.000 |
340.000 |
OPERATIONS OF
THE COMPANY
The Company is engaged in the business of manufacture and sale of precision engineering machinery with a wide range of application. During the year, the turnover of the company increased significantly and achieved a turnover of INR 613.43 Million, showing a growth of 123%. The products of the company are well received in the market and getting great acceptance from the clients for its quality and strength.
COMPANY’S STATE OF AFFAIRS
The
Company has a strong capital structure and with a sound financial base, the
company is embarking on a larger market share for its products. The Company is
extending its business wings to all the four regions of India.
FIXED ASSETS:
· Land
· Building
· Factory building
· Plant and equipment
· Furniture and fixtures
· Computer software
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 63.91 |
|
UK Pound |
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
RUP |
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 |
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.