|
|
|
MIRA INFORM REPORT
|
Report No. : |
492770 |
|
Report Date : |
19.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PREMIER INDUSTRIAL CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
501-506, 5th Floor, Kailash Corporate Lounge Godrej, Hiranandani Link
Road, Park Site, Vikroli [West], Mumbai – 400079, Maharashtra |
|
Tel. No.: |
91-22-61514545/ 25003802 |
|
|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2016 |
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|
|
|
Date of
Incorporation : |
08.08.2007 |
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|
|
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Com. Reg. No.: |
11-172955 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 83.992 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101MH2007PLC172955 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0307053288 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP24480B |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
27AAECP3518M1Z5 |
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|
|
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PAN No.: [Permanent Account No.] |
AAECP3518M |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Welding Flux Powders, Wires and other non-ferrous Metals. (Registered activity and also Confirmed by management) |
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|
No. of Employees
: |
250 (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 |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was incorporated in the year 2007. It is a manufacturer of welding
flux powders and wires and other non-ferrous metals. Management has not filed its financial record with government
department for the year 2017 and same are not available from any other
sources. For the financial year 2016, the company has reported a decline in its
revenue as compared to the previous year but has managed to maintained
profitability margin of 5.79%. The company possesses healthy financial position marked by adequate
net worth base along with low debt balance sheet profile and comfortable
liquidity level. Rating is constrained on account of absence of latest financial
records of the company. Business is active. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
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 |
Long Term Loans = BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
11.04.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Loans = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
11.04.2017 |
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 19.02.2018
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 INFORMATION)
|
Name : |
Mr. Anand Dilip Morzaria |
|
Designation : |
Director |
|
Contact No.: |
91-9619902204 |
|
Date : |
16.02.2018 |
LOCATIONS
|
Registered/ Corporate Office : |
501-506, 5th Floor, Kailash Corporate Lounge Godrej, Hiranandani Link
Road, Park Site, Vikroli [West], Mumbai – 400079, Maharashtra, India |
|
Tel. No.: |
91-22-61514545/ 25003802 |
|
Mobile No.: |
91-9619902204 (Mr. Anand Dilip Morzaria) |
|
Fax No.: |
91-22-61514555 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Branch Office : |
Anupam Industrial Estate, LBS Marg, Mulund (West), Mumbai – 400080,
Maharashtra, India |
|
|
|
|
Factories : |
Located at: · Rabale · Taloja · Bhiwandi |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Arvind Chhotalal Morzaria |
|
Designation : |
Managing director |
|
Address : |
9A, Devang Apartments, 83, Garodia Nagar, Ghatkopar (East), Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
22.02.1952 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
08.08.2007 |
|
PAN No.: |
AEKPM9977L |
|
DIN No.: |
00762810 |
|
|
|
|
Name : |
Mr. Subhash Chotalal Morzaria |
|
Designation : |
Whole-time director |
|
Address : |
1202A, Kukreja Palace, Vallabh Baug Extn. Lane, Ghatkopar (East), Mumbai - 400075, Maharashtra, India |
|
Date of Birth/Age : |
09.08.1958 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
08.08.2007 |
|
PAN No.: |
AADPM9918L |
|
DIN No.: |
00762794 |
|
|
|
|
Name : |
Mr. Dilip Chhotalal Morzaria |
|
Designation : |
Whole-time director |
|
Address : |
101, Kailas Mansion,, Derasar Lane, Ghatkopar (East), Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1957 |
|
Qualification : |
B.Sc |
|
Date of Appointment : |
08.08.2007 |
|
PAN No.: |
AADPM9919M |
|
DIN No.: |
00762801 |
|
|
|
|
Name : |
Mr. Lalit Navin Morzaria |
|
Designation : |
Whole-time director |
|
Address : |
6, Komal Apartments, 90 Feet Road,, Garodia Nagar, Ghatkopar (East), Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1977 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
08.08.2007 |
|
PAN No.: |
AEXPM7771B |
|
DIN No.: |
00762815 |
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|
|
|
Name : |
Smeet Arvind Morzaria |
|
Designation : |
Wholetime director |
|
Address : |
9 A, Devang Apartments, 53, Garodia Nagar, 90 Feet Road, Ghatkopar [East], Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
09.03.1985 |
|
Qualification : |
MBA |
|
Date of Appointment : |
16.10.2014 |
|
PAN No.: |
AJTPM0703A |
|
DIN No.: |
06979276 |
|
|
|
|
Name : |
Mr. Meet Arvind Morzaria |
|
Designation : |
Wholetime director |
|
Address : |
9 A, Devang Apartments, 53, Garodia Nagar, 90 Feet Road, Ghatkopar [East], Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
09.03.1985 |
|
Qualification : |
MBA |
|
Date of Appointment : |
16.10.2014 |
|
PAN No.: |
AJTPM0709L |
|
DIN No.: |
06979283 |
|
|
|
|
Name : |
Mr. Anand Dilip Morzaria |
|
Designation : |
Wholetime director |
|
Address : |
101, New Kailash Mansion, Derasar Lane, Ghatkopar [East], Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
14.02.1985 |
|
Qualification : |
MBA |
|
Date of Appointment : |
16.10.2014 |
|
PAN No.: |
AJQPM3544C |
|
DIN No.: |
06979270 |
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|
|
|
Name : |
Mr. Dilip Shantilal Mehta |
|
Designation : |
director |
|
Address : |
172/2, Krushnakunj, Ground Floor, Shree Hindu CHSL, N. S. Madikar Marg, Sion, Chunnabati, Mumbai - 400022, Maharashtra, India |
|
Date of Birth/Age : |
12.06.1952 |
|
Qualification : |
B. Sc. |
|
Date of Appointment : |
16.10.2014 |
|
PAN No.: |
AABPM6713H |
|
DIN No.: |
01681356 |
|
|
|
|
Name : |
Mr. Bharat Balkrishna Parekh |
|
Designation : |
director |
|
Address : |
Rajshree, Flat No. 15, 3rd Floor,, A. N. Narkar Marg, Near Odian Cinema, Ghatkopar, Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
14.02.1958 |
|
Qualification : |
B. Sc. |
|
Date of Appointment : |
16.10.2014 |
|
PAN No.: |
AAFPP9348F |
|
DIN No.: |
01858132 |
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|
|
|
Name : |
Kashmira Bharat Parekh |
|
Designation : |
director |
|
Address : |
15, Rajshree, 3rd Floor, R.N. Narkar Marg, Near Odean Cinema, Ghatkopar [East], Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
27.01.1961 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
16.10.2014 |
|
PAN No.: |
AAFPP9347L |
|
DIN No.: |
06997683 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2015
|
Names of Shareholders |
|
No. of Shares |
|
Arvind Chhotalal Morzaria |
|
2633700 |
|
Bharti A. Morzaria |
|
64469 |
|
Dilip Chhotalal Morzaria (HUF) |
|
40000 |
|
Kalpana D. Morzaria |
|
23069 |
|
Lalit Navin Morzaria |
|
689087 |
|
Maulik S. Morzaria |
|
101200 |
|
Meet Arvind Morzaria |
|
193269 |
|
Nirmala N. Morzaria |
|
138069 |
|
Rima D. Morzaria |
|
11500 |
|
Rushina S. Morzaria |
|
46069 |
|
Samarth S. Morzaria |
|
101269 |
|
Smeet A. Morzaria |
|
193269 |
|
Subhash C. Morzaria |
|
1784550 |
|
Subhash C. Morzaria HUF |
|
40000 |
|
Anand Dilip Morzaria |
|
71369 |
|
Arvind C Morzaria HUF |
|
40000 |
|
Dilip Chhotalal Morzaria |
|
2228275 |
|
Chhotalal Mathurdas Morzaria |
|
69 |
|
Total |
|
8399233 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2015
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Welding Flux Powders, Wires and other non-ferrous Metals. (Registered activity and also Confirmed by management) |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Russia |
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Terms : |
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Selling : |
L/C, Cheque and Credit, NEFT and RTGS |
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Purchasing : |
L/C, Cheque and Credit, NEFT and RTGS |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
|
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Auditors : |
|
|
Name : |
P.G. Ranade and Company Chartered Accountants |
|
Address : |
A/17, Raj Darshan , Basement, Dada Patil Wadi, Near Platform No.1, Thane, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAMFP2612H |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
Dals international BV, Netherlands |
|
|
|
|
Others related
party : |
Kamman Corporation, India |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8399233 |
Equity Shares |
INR 10/- each |
INR 83.992
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
83.992 |
83.992 |
83.992 |
|
(b) Reserves & Surplus |
409.610 |
339.308 |
332.475 |
|
(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) |
493.602 |
423.300 |
416.467 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
154.926 |
275.814 |
284.991 |
|
(b) Deferred tax liabilities
(Net) |
8.688 |
7.215 |
3.442 |
|
(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) |
163.614 |
283.029 |
288.433 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
203.765 |
409.036 |
466.597 |
|
(b) Trade payables |
111.211 |
137.675 |
159.217 |
|
(c) Other current liabilities |
12.753 |
2.277 |
2.192 |
|
(d) Short-term provisions |
36.511 |
30.126 |
28.757 |
|
Total
Current Liabilities (4) |
364.240 |
579.114 |
656.763 |
|
|
|
|
|
|
TOTAL |
1021.456 |
1285.443 |
1361.663 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
334.612 |
339.817 |
343.375 |
|
(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 |
1.083 |
1.083 |
1.083 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.699 |
7.247 |
7.180 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
343.394 |
348.147 |
351.638 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
280.187 |
356.978 |
426.857 |
|
(c) Trade receivables |
322.252 |
338.959 |
421.807 |
|
(d) Cash and cash equivalents |
16.038 |
113.755 |
26.934 |
|
(e) Short-term loans and
advances |
15.589 |
14.227 |
17.129 |
|
(f) Other current assets |
43.996 |
113.377 |
117.298 |
|
Total
Current Assets |
678.062 |
937.296 |
1010.025 |
|
|
|
|
|
|
TOTAL |
1021.456 |
1285.443 |
1361.663 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
1213.621 |
1237.741 |
1236.604 |
|
|
Other Income |
8.872 |
8.924 |
1.800 |
|
|
TOTAL
|
1222.493 |
1246.665 |
1238.404 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
878.866 |
1023.905 |
1083.229 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
76.792 |
69.878 |
(4.291) |
|
|
Employees benefits expense |
52.874 |
19.290 |
30.991 |
|
|
Other expenses |
52.836 |
32.657 |
47.699 |
|
|
TOTAL |
1061.368 |
1145.730 |
1157.628 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
161.125 |
100.935 |
80.776 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
54.892 |
72.842 |
79.849 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
106.233 |
28.093 |
0.927 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
12.797 |
14.214 |
23.721 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
93.436 |
13.879 |
(22.794) |
|
|
|
|
|
|
|
Less |
TAX |
23.134 |
6.550 |
(0.959) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
70.302 |
7.329 |
(21.835) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
8.37 |
0.87 |
(2.60) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
285.861 |
210.376 |
(22.794) |
|
Net cash flows from (used in) operating activities |
281.775 |
207.599 |
(22.794) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
96.92 |
99.96 |
124.50 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.77 |
3.65 |
2.93 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
46.19 |
49.08 |
53.65 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.58 |
0.28 |
0.19 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.48 |
0.30 |
0.24 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.51 |
0.67 |
0.69 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.73 |
1.62 |
1.80 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.74 |
1.37 |
1.58 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.68 |
0.80 |
0.82 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.94 |
1.39 |
1.01 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
5.79 |
0.59 |
(1.77) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
6.88 |
0.57 |
(1.60) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
14.24 |
1.73 |
(5.24) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.86 |
1.62 |
1.54 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
1.09 |
1.00 |
0.89 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.48 |
0.33 |
0.31 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.27 |
8.15 |
8.95 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.86 |
1.62 |
1.54 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
83.992 |
83.992 |
83.992 |
|
Reserves & Surplus |
332.475 |
339.308 |
409.610 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
416.467 |
423.300 |
493.602 |
|
|
|
|
|
|
Long Term borrowings |
284.991 |
275.814 |
154.926 |
|
Short Term borrowings |
466.597 |
409.036 |
203.765 |
|
Total
borrowings |
751.588 |
684.850 |
358.691 |
|
Debt/Equity
ratio |
1.805 |
1.618 |
0.727 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
1236.604 |
1237.741 |
1213.621 |
|
|
|
0.092 |
(1.949) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
1236.604 |
1237.741 |
1213.621 |
|
Profit |
(21.835) |
7.329 |
70.302 |
|
|
(1.77%) |
0.59% |
5.79% |
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 |
Yes |
|
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 |
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) |
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 |
Yes |
|
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 |
REVIEW OF BUSINESS OPERATIONS
AND FUTURE PROSPECTS
The Directors wish to
present the details of Business operations done during the year:
Production and
Profitability
The Company made a profit after tax of INR 70.302 Million for the year.
Sales
The total turnover from the operations is INR 1213.621 Million for the year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Intercorporate borrowings |
6.250 |
73.592 |
|
Loans and advances from related parties |
140.766 |
189.509 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
203.765 |
409.036 |
|
Total |
350.781 |
672.137 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
B65081192 |
10390145 |
Bank of Baroda |
30/10/2012 |
26/12/2012 |
- |
661000000.0 |
Thane West Branch,Ram Maruti Road, Thane West,ThaneMH400602IN |
|
2 |
B86946241 |
10476515 |
Standard Chartered Bank |
30/11/2010 |
- |
- |
17000000.0 |
23-25, Mahatma Gandhi RoadFortMumbaiMH400001IN |
|
3 |
B65080525 |
10121456 |
Bank of Baroda |
25/08/2008 |
26/12/2012 |
- |
661000000.0 |
Thane West Branch,Ram Maruti Road, Thane West,ThaneMH400602IN |
|
4 |
B65081788 |
10178334 |
Bank of Baroda |
08/08/2007 |
26/12/2012 |
- |
531000000.0 |
Thane West Branch,Ram Maruti Road, Thane West,ThaneMH400602IN |
|
5 |
B65082240 |
90154647 |
Bank of Baroda |
21/05/2001 |
26/12/2012 |
- |
661000000.0 |
Thane West Branch,Ram Maruti Road, Thane West,ThaneMH400602IN |
|
6 |
Y10252211 |
90152441 |
BANK OF BARODA |
09/11/1993 |
21/05/2001 |
- |
985000.0 |
THANE (W) BRANCHANNPURNA BHAVAN GOKHALE ROAD NAUPADATHANEMH400602IN |
|
7 |
Y10252573 |
90152803 |
BANK OF BARODA |
15/01/1992 |
15/01/1999 |
- |
495000.0 |
THANE (W) BRANCHANNPURNA BHAVAN GOKHALE ROAD NAUPADATHANEMH400602IN |
|
8 |
C35976232 |
10173723 |
RELIANCE CAPITAL LTD |
25/07/2009 |
- |
02/12/2014 |
20000000.0 |
"H" BLOCK 1ST FLOORDhirubhai Ambani Knowledge City, KoparkhairneNavi MumbaiMH400710IN |
FIXED ASSETS
- Land
- Buildings
- Office building
- Factory building
- Plant and equipment
- Pollution reduction equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.90 |
|
|
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
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.