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|
MIRA INFORM REPORT
|
Report No. : |
493218 |
|
Report Date : |
20.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
AGS TRANSACT TECHNOLOGIES LIMITED (w.e.f. 20.07.2010) |
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Formerly Known
As : |
AGS TRANSACT TECHNOLOGIES PRIVATE LIMITED (w.e.f. 03.06.2010) AGS INFOTECH PRIVATE LIMITED |
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Registered
Office : |
601-602, Trade World, B-Wing, Kamala Mill Compound, Senapati Bapat
Marg, Lower Parel, Mumbai-400013, Maharashtra |
|
Tel. No.: |
91-22-67812000 |
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|
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
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Date of
Incorporation : |
11.12.2002 |
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Com. Reg. No.: |
11-138213 |
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Capital
Investment / Paid-up Capital : |
INR 1203.926 Million |
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CIN No.: [Company Identification
No.] |
U72200MH2002PLC138213 |
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IEC No.: [Import-Export Code No.] |
0303001526 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAECA0901H1Z6 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECA0901H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is in the business of supplying, installing and managing technology-based automation products and providing related services to its customers in Banking, Petroleum, Colour and Retail sectors. The Company also provides complete ATM Outsourcing, Intelligent Cash Deposit (ICD), cash burial facility, ATM Managed Services, transaction switching and processing services to various banks, financial institutions and other companies. [Registered Activity] |
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|
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No. of Employees
: |
Information denied by the management |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
AGS Transact Technologies Limited is one of India’s leading end-to-end payment solutions providers, with a spectrum of customised products instated with latest technology for the banking, retail and petroleum sectors. Its three major lines of businesses include banking automation solutions, banking payment solutions and automation solutions for the retail, petroleum and colour sectors. Services under the banking payment solutions segment include greenfield end-to-end deployment and management of ATMs. The company was incorporated in the year 2002 and is based in Mumbai, Maharashtra. It is an established company having good track record. For the financial year ended 2017, the company has witnessed a growth in its revenue and has achieved profit margin at 0.69% (approx.). The company possesses robust financial profile marked by healthy net worth base along with comfortable debt level and favourable gap between trade payables to its trade receivables. The ratings takes into account AGSTTL’s consistent revenue growth achieved from the banking segment due to addition of new ATMs to its portfolio, with the trend expected to continue in the near term as well. The ratings also factor in India’s favourable demographic profile coupled with Government of India’s (GoI) recent drive towards financial inclusion to improve banking coverage, which is likely to lead to increased issuance of debt/credit cards and ATM usage in the rural and semi-rural areas. Fundamentals of the company are strong and healthy. Trade relations are reported as fair. Business is active. Payments terms are reported to be regular and as per commitments. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Long term rating = A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
17.02.2017 |
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|
|
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Short term rating = A1 |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
17.02.2017 |
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 20.02.2018.
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
MANAGEMENT NON-COOPERATIVE (Tel. No.:
91-22-67812000)
Tel. No.:91-22-71818181
(Ringing)
LOCATIONS
|
Registered/ Head Office : |
601-602, Trade World, B-Wing, Kamala Mill Compound, Senapati Bapat
Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-67812000 |
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Fax No.: |
91-22-24935384 |
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E-Mail : |
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Website : |
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Corporate Office : |
14th Floor, Tower – 3, Indiabulls
Finance Center, S. B. Marg, Elphinstone
Road (West), Mumbai – 400013,
Maharashtra, India |
|
Tel. No.: |
91-22-71818181 |
|
|
|
|
Tech Support Centre : |
Plot No. EL 201, TTC Industrial Area, Near Nelco, DNA Press, Mahape, Navi Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-61484000 |
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|
Navi Mumbai – TRC |
Plot No. EL 81,TTC Industrial Area, MIDC, Mahape, Navi Mumbai – 400705, Maharashtra, India |
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Tel. No.: |
91-22-49211000 |
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Branch Office |
AGS House, Plot No. EL – 82-83, MIDC, TTC Industrial Area, Mahape, Navi Mumbai – 400710,
Maharashtra, India |
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Tel. No.: |
91-22-45766666 |
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|
|
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Warehouse |
C/o. The Cotton Corporation of India Limited, Compartment 5, Ground Floor, Godown No. III, Plot No. S 5, Sector – KWC, Warehousing Complex, Kalamboli, Panvel – 410218, Maharashtra, India |
|
Tel. No.: |
91-22-64577341 |
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Assembling Unit |
Survey No. 172/3, 173/3 and 173/4, Part – A, Ground Floor, Behind Olive Health Care, Atiyawad, Dabhel, Nani Daman – 396210, India |
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Branch Offices : |
Located at: North Zone ·
Amritsar · Chandigarh ·
New
Delhi ·
Jaipur ·
Jammu ·
Lucknow ·
Srinagar ·
Patna · Dehradun East
Zone ·
Cuttack ·
Guwahati ·
Kolkata ·
Ranchi ·
Chhattisgarh South
Zone ·
Bangalore ·
Chennai ·
Cochin ·
Hyderabad ·
Pondicherry West
Zone ·
Ahmedabad ·
Indore ·
Pune ·
Surat ·
Goa · Vishakhapatnam |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Ravi Badrinarain Goyal |
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Designation : |
Managing Director |
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Address : |
C-3101, 31st Floor, Beau Monde, Appasaheb Marathe Marg, Prabhadevi, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
02.05.1962 |
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Qualification : |
B.E. (Electrical) |
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Date of Appointment : |
01.10.2008 |
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PAN No.: |
AACPG0726F |
|
DIN No.: |
01374288 |
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|
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Name : |
Mr. Badrinarain Kunjbihari Goyal |
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Designation : |
Director |
|
Address : |
C-3101, 31st Floor, Beau Monde, Appasaheb Marathe Marg, Prabhadevi, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
09.05.1940 |
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Qualification : |
Electronics Diploma Engineer |
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Date of Appointment : |
11.12.2002 |
|
DIN No.: |
01679378 |
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|
|
|
Name : |
Mrs. Anupama Ravi Goyal |
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Designation : |
Director |
|
Address : |
C-3101, 31st Floor, Beau Monde, Appasaheb Marathe Marg, Prabhadevi, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
10.09.1965 |
|
Qualification : |
M.A. |
|
Date of Appointment : |
10.08.2012 |
|
PAN No.: |
AACPG0725G |
|
DIN No.: |
02696453 |
|
|
|
|
Name : |
Mr. Sudip Bandyopadhyay |
|
Designation : |
Director |
|
Address : |
Ansal Heights Flat No.1801, 18th Floor, Block - B, Worli
Naka, Mumbai - 400018, Maharashtra, India |
|
Date of Birth/Age : |
06.04.1964 |
|
Qualification : |
CA and Cost Accountant |
|
Date of Appointment : |
16.09.2010 |
|
DIN No.: |
00007382 |
|
|
|
|
Name : |
Mr. Jagadish Capoor |
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Designation : |
Director |
|
Address : |
1601 Brooke Ville, 359 Mogul Lane, Mahim (West), Mumbai - 400016, Maharashtra,
India |
|
Date of Birth/Age : |
01.07.1939 |
|
Qualification : |
B.Com and M. Com, Agra University |
|
Date of Appointment : |
12.03.2015 |
|
DIN No.: |
00002516 |
|
|
|
|
Name : |
Mr. Bharat Dhirajlal Shah |
|
Designation : |
Director |
|
Address : |
Flat No. 21, Hill Park Building. No. 2, A G Bell Marg, Malabar Hill,
Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
18.02.1947 |
|
Date of Appointment : |
12.03.2015 |
|
DIN No.: |
00136969 |
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|
|
|
Name : |
Mr. Sivanandhan Dhanushkodi |
|
Designation : |
Director |
|
Address : |
1803, B Wing, Ashoka Towers, Ambedkar Road, Parel, Mumbai - 400012,
Maharashtra, India |
|
Date of Birth/Age : |
03.02.1951 |
|
Date of Appointment : |
12.03.2015 |
|
DIN No.: |
03607203 |
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|
|
|
Name : |
Mr. Vijay Chugh |
|
Designation : |
Director |
|
Address : |
Flat No. A-2602, Eldora Co-Operative Hosing Society, Hiranandani
Garden, Technology Street, Near Hiranandani Hospital, Powai, Mumbai - 400076,
Maharashtra, India |
|
Date of Birth/Age : |
29.12.1954 |
|
Qualification : |
M.A., PGD in Business Administration |
|
Date of Appointment : |
12.03.2015 |
|
DIN No.: |
07112794 |
|
|
|
|
Name : |
Mr. Bhatia Puneet |
|
Designation : |
Nominee Director |
|
Address : |
House Number- 525 A, Magnolias Apartment, DLF Golf Course, DLF Phase-V, Gurgaon, Galleria DLF-IV, Gurugram-122009, Haryana, India |
|
Date of Appointment : |
16.10.2017 |
|
DIN No.: |
00143973 |
|
|
|
|
Name : |
Mr. Karthik Srinivasan |
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Designation : |
Nominee Director |
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Address : |
403, Thosar House Chsl Hanuman Cross Road No.1, Vile Parle (East), Mumbai -400057, Maharashtra, India |
|
Date of Appointment : |
31.10.2017 |
|
DIN No.: |
07919276 |
KEY EXECUTIVES
|
Name : |
Ms. Sneha Prabhakar Kadam |
|
Designation : |
Company Secretary |
|
Address : |
B-306, Maitry Arcade, Opposite S.T. Depot Nalasopara West, Palghar, Thane- 401203, Maharashtra, India |
|
Date of Appointment : |
17.08.2017 |
|
PAN No.: |
BYAPK0312G |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Ravi Badrinarain Goyal |
|
66460312 |
|
TPG Star SF Pte Limited, |
|
31256852 |
|
Oriole Limited, |
|
19797412 |
|
AGSTTL Employees’ Welfare Trust |
|
1886000 |
|
Badrinarain Kunjbihari Goyal |
|
750000 |
|
Anand Agarwal |
|
73920 |
|
V.C. Gupte |
|
46000 |
|
Shailesh Shetty |
|
36000 |
|
Vishnu Kamat |
|
18000 |
|
Rajesh Shah |
|
18000 |
|
Nikhil Patiyat |
|
18000 |
|
Subrat Mishra |
|
18000 |
|
Ravindra Deshpande |
|
14000 |
|
Trinity Ventures |
|
64 |
|
Anupama Ravi Goyal |
|
16 |
|
Total |
|
120392576 |
AS ON 25.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
55.83 |
|
Public/Other than promoters - Individual/Hindu Undivided Family – Indian |
0.20 |
|
Public/Other than promoters - Bodies corporate |
42.41 |
|
Public/Other than promoters - Others AGSTTL Employees
Welfare |
1.56 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is in the business of supplying, installing and managing technology-based automation products and providing related services to its customers in Banking, Petroleum, Colour and Retail sectors. The Company also provides complete ATM Outsourcing, Intelligent Cash Deposit (ICD), cash burial facility, ATM Managed Services, transaction switching and processing services to various banks, financial institutions and other companies. [Registered Activity] |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
Note: LONG TERM BORROWINGS Indian Rupee term loan from banks carry an interest rate in the range of 10.25% p.a. to 11.50% p.a. The loans are repayable as per the amortisation schedule spread over from 32 months to 55 months. Loans are secured by charge on specific contracts assets comprising of building, ATMs, specific contract receivables and other related equipments of assigned contract. Further, in the previous year one of the loan was guaranteed by the personal guarantee of the managing director of the company which is repaid during the year. SHORT TERM BORROWINGS (A) The above loans are secured by hypothecation of receivables and inventory and are re-payable on demand. These loans carry an interest rate as mentioned below: Working capital loans 10.05% to 10.50% (B) The above loans are secured by hypothecation of receivables and inventory and are re-payable on demand. These loans carry an interest rate as mentioned below: Working capital loans 10.05% to 10.50% |
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates LLP Chartered Accountants |
|
Address : |
The Ruby, 14th Floor, 29, Senapati Bapat Marg, Dadar (West), Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
|
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|
Memberships : |
-- |
|
|
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Collaborators : |
-- |
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Subsidiary
Companies : |
· Securevalue India Limited, India CIN No.: U74120MH2012PLC230193 · India Transact Services Limited, India CIN No.: U72900MH2007PLC172249 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· Instruments Research Associates Private Limited, India CIN No.: U24119KA1984PTC006178 · AGS Sundyne Technologies Private Limited, India CIN No.: U72200MH2006PTC161398 · Fillon Technologies India Private Limited, India CIN No.: U74999MH2003PTC139495 · Global Transact Services Pte. Limited, Singapore · AGSTTL Employees Welfare Trust, India
|
CAPITAL STRUCTURE
AS ON 25.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
INR 10/- each |
INR 1500.000 Million |
|
10000000 |
Preference Shares |
INR 10/- each |
INR 100.000
Million |
|
|
Total
|
|
INR 1600.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120392576 |
Equity Shares |
INR 10/- each |
INR 1203.926
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
1203.926 |
1203.926 |
1203.926 |
|
(b) Reserves and Surplus |
3543.864 |
3457.339 |
3401.251 |
|
(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 |
4747.790 |
4661.265 |
4605.177 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2215.559 |
1501.280 |
1781.410 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
50.069 |
39.015 |
70.810 |
|
(d) long-term
provisions |
154.882 |
119.869 |
71.187 |
|
Total Non-current
Liabilities |
2420.510 |
1660.164 |
1923.407 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
2742.671 |
2839.613 |
2327.788 |
|
(b) Trade
payables |
1949.875 |
1744.981 |
1725.542 |
|
(c) Other current
liabilities |
2045.495 |
1730.852 |
1602.565 |
|
(d) Short-term
provisions |
53.440 |
62.725 |
104.743 |
|
Total Current
Liabilities |
6791.481 |
6378.171 |
5760.638 |
|
|
|
|
|
|
TOTAL |
13959.781 |
12699.600 |
12289.222 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3765.352 |
3518.111 |
3021.167 |
|
(ii)
Intangible Assets |
207.666 |
151.975 |
144.163 |
|
(iii) Tangible assets
capital work-in-progress |
524.702 |
263.646 |
525.860 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1178.555 |
537.173 |
341.553 |
|
(c) Deferred tax assets (net) |
196.069 |
149.064 |
136.722 |
|
(d)
Long-term loans and advances |
1420.251 |
1265.993 |
1428.667 |
|
(e) Other
Non-current assets |
531.765 |
629.248 |
423.722 |
|
Total Non-Current
Assets |
7824.360 |
6515.210 |
6021.854 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1680.644 |
1877.864 |
1773.161 |
|
(c) Trade
receivables |
2942.257 |
2642.932 |
3396.857 |
|
(d) Cash and
bank balances |
90.146 |
69.520 |
227.680 |
|
(e)
Short-term loans and advances |
672.777 |
761.622 |
404.002 |
|
(f) Other
current assets |
749.597 |
832.452 |
465.668 |
|
Total
Current Assets |
6135.421 |
6184.390 |
6267.368 |
|
|
|
|
|
|
TOTAL |
13959.781 |
12699.600 |
12289.222 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
12561.316 |
11442.423 |
11671.757 |
|
|
Other Income |
76.685 |
92.519 |
35.972 |
|
|
TOTAL |
12638.001 |
11534.942 |
11707.729 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3176.867 |
3140.983 |
3797.626 |
|
|
Purchases of
Stock-in-Trade |
50.131 |
83.420 |
534.391 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
28.289 |
67.292 |
(284.974) |
|
|
Employee benefit expense |
995.171 |
853.647 |
709.935 |
|
|
Other expenses |
6740.579 |
6016.888 |
5188.342 |
|
|
TOTAL |
10991.037 |
10162.230 |
9945.320 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1646.964 |
1372.712 |
1762.409 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
692.615 |
651.695 |
634.347 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
954.349 |
721.017 |
1128.062 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
802.159 |
653.087 |
748.292 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
152.190 |
67.930 |
379.770 |
|
|
|
|
|
|
|
Less |
TAX |
65.665 |
32.288 |
146.689 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
86.525 |
35.642 |
233.081 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
166.504 |
1.946 |
14.038 |
|
|
TOTAL EARNINGS |
166.504 |
1.946 |
14.038 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1166.893 |
683.215 |
351.330 |
|
|
Components and spare
parts |
580.425 |
1689.967 |
2388.711 |
|
|
Capital Goods |
147.442 |
44.975 |
16.223 |
|
|
TOTAL IMPORTS |
1894.760 |
2418.156 |
2756.264 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
0.72 |
0.30 |
2.05 |
|
|
Diluted |
0.72 |
0.30 |
1.92 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
919.445 |
680.123 |
623.869 |
|
Net cash flows from (used in) operations |
2271.371 |
1587.991 |
1262.473 |
|
Net cash flows from (used in) operating activities |
1938.739 |
1402.119 |
1178.652 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
85.49 |
84.31 |
106.23 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
4.27 |
4.33 |
3.44 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
220.55 |
197.53 |
145.39 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.98 |
0.73 |
0.99 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.37 |
0.35 |
0.48 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.71 |
0.67 |
0.66 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.24 |
1.08 |
1.03 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.43 |
1.37 |
1.25 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.95 |
0.84 |
0.80 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.38 |
2.11 |
2.78 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
0.69 |
0.31 |
2.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.62 |
0.28 |
1.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
1.82 |
0.76 |
5.06 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.90 |
0.97 |
1.09 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.66 |
0.68 |
0.78 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.34 |
0.37 |
0.37 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.88 |
4.17 |
3.93 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.90 |
0.97 |
1.09 |
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 |
1203.926 |
1203.926 |
1203.926 |
|
Reserves & Surplus |
3401.251 |
3457.339 |
3543.864 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
4605.177 |
4661.265 |
4747.790 |
|
|
|
|
|
|
Long-term borrowings |
1781.410 |
1501.280 |
2215.559 |
|
Short term borrowings |
2327.788 |
2839.613 |
2742.671 |
|
Current maturities of
long-term debts |
623.869 |
680.123 |
919.445 |
|
Total
borrowings |
4733.067 |
5021.016 |
5877.675 |
|
Debt/Equity
ratio |
1.028 |
1.077 |
1.238 |
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 |
11671.757 |
11442.423 |
12561.316 |
|
|
|
(1.965) |
9.778 |
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 |
11671.757 |
11442.423 |
12561.316 |
|
Profit/ (Loss) |
233.081 |
35.642 |
86.525 |
|
|
2.00% |
0.31% |
0.69% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1203.926 |
1203.926 |
|
(b) Reserves and Surplus |
|
2763.227 |
2934.798 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds |
|
3967.153 |
4138.724 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2542.417 |
1891.828 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
55.225 |
52.136 |
|
(d) long-term
provisions |
|
209.618 |
146.945 |
|
Total Non-current
Liabilities |
|
2807.260 |
2090.909 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
2935.487 |
2919.730 |
|
(b) Trade
payables |
|
1983.622 |
1810.885 |
|
(c) Other
current liabilities |
|
2545.072 |
2075.447 |
|
(d) Short-term
provisions |
|
67.264 |
67.256 |
|
Total Current
Liabilities |
|
7531.445 |
6873.318 |
|
|
|
|
|
|
TOTAL |
|
14305.858 |
13102.951 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
4761.264 |
4164.308 |
|
(ii)
Intangible Assets |
|
217.015 |
177.111 |
|
(iii) Tangible assets
capital work-in-progress |
|
783.597 |
318.941 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
220.101 |
157.493 |
|
(d)
Long-term loans and advances |
|
1502.400 |
1355.213 |
|
(e) Other Non-current
assets |
|
532.261 |
645.112 |
|
Total Non-Current
Assets |
|
8016.638 |
6818.178 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1690.407 |
1899.127 |
|
(c) Trade
receivables |
|
2989.438 |
2735.625 |
|
(d) Cash and
bank balances |
|
209.892 |
103.236 |
|
(e)
Short-term loans and advances |
|
524.460 |
620.847 |
|
(f) Other
current assets |
|
875.023 |
925.938 |
|
Total
Current Assets |
|
6289.220 |
6284.773 |
|
|
|
|
|
|
TOTAL |
|
14305.858 |
13102.951 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
13531.735 |
11924.551 |
|
|
Other Income |
|
113.203 |
107.796 |
|
|
TOTAL |
|
13644.938 |
12032.347 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
3097.175 |
3130.807 |
|
|
Purchases of
Stock-in-Trade |
|
94.717 |
120.040 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
41.145 |
56.137 |
|
|
Employee benefit expense |
|
2252.174 |
1791.343 |
|
|
Other expenses |
|
6430.479 |
5636.690 |
|
|
TOTAL |
|
11915.690 |
10735.017 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
1729.248 |
1297.330 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
767.759 |
710.451 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
961.489 |
586.879 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
1005.697 |
761.965 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(44.208) |
(175.086) |
|
|
|
|
|
|
|
Less |
TAX |
|
116.795 |
49.283 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(161.003) |
(224.369) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(1.34) |
(1.87) |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY OVERVIEW
The Company is a company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is in the business of supplying, installing and managing technology-based automation products and providing related services to its customers in Banking, Petroleum, Colour and Retail sectors. The Company also provides complete ATM Outsourcing, Intelligent Cash Deposit (ICD), cash burial facility, ATM Managed Services, transaction switching and processing services to various banks, financial institutions and other companies.
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G55006175 |
100125564 |
The Karur Vysya bank Limited |
06/09/2017 |
- |
500000000.0 |
Plot No. 34, Unit 1 and 2, Everest Grande, Mahakali Caves Road, Andheri, Mumbai-400093, Maharashtra, India |
|
2 |
G47696653 |
100107760 |
INDUSIND BANK LIMITED |
08/06/2017 |
- |
600000000.0 |
2401 Gen Thimmayya Road, Contonment, Pune-411001, Maharashtra, India |
|
3 |
G37259421 |
100080635 |
HDFC BANK LIMITED |
30/01/2017 |
- |
800000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
4 |
G17432048 |
100056318 |
THE SOUTH INDIAN BANK LIMITED |
30/09/2016 |
- |
500000000.0 |
S I B House, Mission Quarter, STB Road, Thrissur-680001, Kerala, India |
|
5 |
G04593760 |
100029489 |
KOTAK MAHINDRA BANK LIMITED |
17/05/2016 |
- |
400000000.0 |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
6 |
C73949463 |
10520351 |
KOTAK MAHINDRA BANK LIMITED |
28/08/2014 |
10/12/2015 |
300000000.0 |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
7 |
C19614627 |
10518598 |
HDFC BANK LIMITED |
23/08/2014 |
- |
225000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
8 |
C76179357 |
10471898 |
Axis Bank Limited |
24/12/2013 |
23/12/2015 |
1000000000.0 |
Corporate Banking Branch, 12 Mittal Tower A Wing Nariman Point, Mumbai-400021, Maharashtra, India |
|
9 |
B96568795 |
10470911 |
THE SOUTH INDIAN BANK LIMITED |
17/12/2013 |
21/01/2014 |
500000000.0 |
S I B House, Mission Quarter, STB Road, Thrissur-680001, Kerala, India |
|
10 |
B78943545 |
10435287 |
GE CAPITAL SERVICES INDIA |
28/06/2013 |
- |
290000000.0 |
401, 402, 4th Floor, Aggarwal Millennium Tower, E-1,2,3, Netaji Subhash Place, Wazirpur, New Delhi-110034, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against company not acknowledged as debt |
26.521 |
11.237 |
|
Guarantees |
612.510 |
587.232 |
|
Total |
639.031 |
598.469 |
FIXED ASSETS:
Tangible Asset:
- Land
- Building
- Plant and equipment
- Furniture and Fixture
- Office equipment
- Computer
- Vehicles
Intangible Asset:
- Licenses and franchise
- 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,
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 : |
SHW |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.