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|
MIRA
INFORM REPORT
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Report No. : |
493765 |
|
Report Date : |
22.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
EASUN - MR TAPCHANGERS PRIVATE LIMITED (w.e.f. 01.05.2001) |
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Formerly Known
As : |
EASUN - MR TAPCHANGERS LIMITED (w.e.f. 23.03.1998) EASUN - MR TAPCHANGERS PRIVATE LIMITED |
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Registered
Office : |
Temple Tower, 476, Anna Salai, Nandanam, Chennai – 600035, Tamilnadu |
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Tel. No.: |
91-44-26390863 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
12.10.1995 |
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Com. Reg. No.: |
18-033210 |
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Capital
Investment / Paid-up Capital : |
INR 38.000
Million |
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CIN No.: [Company Identification
No.] |
U36999TN1995PTC033210 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No.: |
33041300791 |
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PAN No.: [Permanent Account No.] |
AAACE1681L |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
33AAACE1681L1ZP |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture and sale of "ONLOAD TAPCHANGERS", parts and accessories. (Registered Activity) |
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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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Maximum Credit Limit : |
USD 1248000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1995. “Sowraj Investments Private Limited”, India holds 49% in the company and Maschinenfabrik Reinhausen”, Germany holds 49% in the company. For the financial year 2017, the revenue of the company has increased by 6.80% along with fair profit margin of 17.16%. The sound financial profile of the company is marked by adequate networth base along with strong debt coverage indicators due to debt free balance sheet profile. The company has decent earning per share (EPS) of INR 44.66 against the face value (FV) of INR 10. The rating takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. Rating also takes into account of strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. However, rating strengths are partially offset by unfavourable gap between trade payables and trade receivables. Business is active. Payments seems to be regular. In view of aforesaid, the company can be considered for business dealings with 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
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Rating Explanation |
Not Available |
|
Date |
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 22.02.2018
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 (Tel No.: 91-44-26301004)
LOCATIONS
|
Registered Office : |
Temple Tower,
476, Anna
Salai, Nandanam, Chennai – 600035, Tamilnadu, India |
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Tel. No.: |
91-44-26301004/ 26390882 |
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Fax No.: |
91-44-24346435 |
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E-Mail : |
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Website : |
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Location: |
Leased |
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Locality: |
Commercial |
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Factory 1/
Marketing Office : |
612 (NEW), Old No. (232) C.T.H Road, Thiruninravur,
Chennai - 602024, Tamilnadu, India |
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Tel. No.: |
91-44-26390863 (Hunting) |
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Fax No.: |
91-44-26390881 |
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E-Mail : |
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Location: |
Owned |
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Factory 2: |
20/5, Perumal Koil Street, Thirubuvanai - 605107,
Pondicherry, India |
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Tel. No.: |
91-413-2907631 |
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Fax No.: |
91-413-2641836 |
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E-Mail : |
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Location: |
Owned |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Hariharan Eswaran |
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Designation : |
Director |
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Address : |
A Block, Pasupathinath, 26, Desika Road, Mylapore, Chennai - 600004, Tamilnadu, India |
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Date of Birth/Age : |
03.07.1937 |
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Qualification: |
BE |
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Date of Appointment : |
12.10.1995 |
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DIN No.: |
00196760 |
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Name : |
Mr. Michael Gerhard Rohde |
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Designation : |
Director |
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Address : |
Blumenstr 3, Neukirchen Am Brand - 91077, Germany |
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Date of Birth/Age : |
12.03.1958 |
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Date of Appointment : |
01.04.2005 |
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DIN No.: |
02605981 |
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Name : |
Mr. Karl Macharowsky |
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Designation : |
Director |
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Address : |
Glaserstrabe 26 Furth IM Wald 93437 DE |
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Date of Appointment : |
07.11.2016 |
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DIN No.: |
05178029 |
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Name : |
Mr. Nicolas Sven Christian Geb. Maier Maier Scheubeck |
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Designation : |
Director |
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Address : |
Schillerstr 45 Regensburg 93049 De |
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Date of Appointment : |
08.07.1996 |
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DIN No.: |
02605990 |
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Name : |
Mr. Raj Hari Eswaran |
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Designation : |
Director |
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Address : |
Pasupathnath, A Block, 26, Desika Road, Mylapore, Chennai - 600004, Tamilnadu, India |
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Date of Birth/Age : |
31.10.1968 |
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Qualification: |
BE, MBA |
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Date of Appointment : |
06.08.1999 |
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DIN No.: |
00195354 |
KEY EXECUTIVES
|
Name : |
Mr. Ramaswamy Ravikumar |
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Designation : |
Company Secretary |
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Address : |
A-2, Subha Uma Flats, 28 Old Post Office Street, Ambattur, Chennai - 600053, Tamilnadu, India |
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Date of Birth/Age : |
10.05.1957 |
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Date of Appointment : |
01.02.1997 |
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PAN No.: |
AAAPR3942A |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Hariharan Eswaran |
76000 |
2.00 |
|
Maschinenfabrik Reinhausen |
1862000 |
49.00 |
|
Sowraj Investments Private Limited, India |
1862000 |
49.00 |
|
Total |
3800000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 31.08.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
2.00 |
|
Promoters (Individual/Hindu Undivided Family - Foreign national (other than NRI)) |
49.00 |
|
Public/Other than promoters (Body corporate) |
49.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and sale of "ONLOAD TAPCHANGERS", parts and accessories. (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 : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Brahmayya and Company Chartered Accountants |
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Address : |
48, Masilamani Road, Balaji Nagar, Royapettah, Chennai-600014, Tamilnadu, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFB2481J |
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Name : |
R. Subramanian and Company LLP Chartered Accountants |
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Address : |
No.6 (Old No 36), Krishnaswamy Avenue, Luz, Mylapore, Chennai – 600004, Tamilnadu, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFR0602F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Joint venture : |
Maschinefabrik Reinhausen GmbH, Regensburg, Germany |
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Associates : |
· Messko GmbH, Germany · Easun Products of India Private Limited |
CAPITAL STRUCTURE
As on 31.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3800000 |
Equity Shares |
INR 10/- each |
INR 38.000 Million |
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FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
38.000 |
38.000 |
38.000 |
|
(b) Reserves and Surplus |
398.724 |
320.483 |
336.651 |
|
(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) |
436.724 |
358.483 |
374.651 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.675 |
2.851 |
|
(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) |
0.000 |
0.675 |
2.851 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
69.556 |
23.621 |
|
(b) Trade
payables |
79.554 |
95.396 |
122.394 |
|
(c) Other
current liabilities |
71.063 |
70.399 |
65.641 |
|
(d) Short-term
provisions |
11.387 |
62.881 |
48.369 |
|
Total Current
Liabilities (4) |
162.004 |
298.232 |
260.025 |
|
|
|
|
|
|
TOTAL |
598.728 |
657.390 |
637.527 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
104.314 |
115.437 |
130.124 |
|
(ii) Intangible Assets |
1.232 |
0.332 |
0.517 |
|
(iii) Tangible assets capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.328 |
0.000 |
0.000 |
|
(d) Long-term loans and advances |
1.960 |
1.627 |
1.381 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
107.834 |
117.396 |
132.022 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
167.017 |
174.056 |
185.956 |
|
(c) Trade receivables |
287.073 |
340.507 |
297.877 |
|
(d) Cash and bank balances |
21.619 |
4.618 |
6.329 |
|
(e) Short-term loans and advances |
15.185 |
20.813 |
15.343 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
490.894 |
539.994 |
505.505 |
|
|
|
|
|
|
TOTAL |
598.728 |
657.390 |
637.527 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
989.038 |
926.063 |
705.299 |
|
|
Other Income |
15.745 |
6.093 |
4.478 |
|
|
TOTAL |
1004.783 |
932.156 |
709.777 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
476.001 |
460.447 |
360.755 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(14.855) |
5.084 |
7.850 |
|
|
Employee benefit expense |
137.104 |
126.834 |
120.848 |
|
|
CSR expenditure |
3.000 |
3.000 |
4.500 |
|
|
Other expenses |
117.933 |
108.885 |
94.574 |
|
|
TOTAL |
719.183 |
704.250 |
588.527 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
285.600 |
227.906 |
121.250 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
7.878 |
4.714 |
2.779 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
277.722 |
223.192 |
118.471 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
17.316 |
20.861 |
24.406 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
260.406 |
202.331 |
94.065 |
|
|
|
|
|
|
|
Less |
TAX |
90.693 |
72.145 |
33.432 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
169.713 |
130.186 |
60.633 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
26.482 |
28.217 |
32.534 |
|
|
TOTAL EARNINGS |
26.482 |
28.217 |
32.534 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and spare
parts |
20.841 |
22.800 |
18.212 |
|
|
TOTAL IMPORTS |
20.841 |
22.800 |
18.212 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
44.66 |
34.26 |
15.96 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
324.319 |
168.803 |
100.610 |
|
Net cash flows from (used in) operating activities |
237.718 |
99.587 |
63.221 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
105.94 |
134.21 |
154.15 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.45 |
2.72 |
2.37 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
61.00 |
75.62 |
123.83 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.71 |
1.31 |
0.65 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
2.71 |
1.97 |
0.93 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.27 |
0.45 |
0.41 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.19 |
0.06 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.37 |
0.83 |
0.69 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.24 |
0.32 |
0.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
36.25 |
48.35 |
43.63 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
17.16 |
14.06 |
8.60 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
28.35 |
19.80 |
9.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
38.86 |
36.32 |
16.18 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.03 |
1.81 |
1.94 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.00 |
1.23 |
1.23 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.73 |
0.55 |
0.59 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
1.83 |
0.62 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
3.03 |
1.81 |
1.94 |
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 |
38.000 |
38.000 |
38.000 |
|
Reserves & Surplus |
336.651 |
320.483 |
398.724 |
|
Net
worth |
374.651 |
358.483 |
436.724 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
23.621 |
69.556 |
0.000 |
|
Total
borrowings |
23.621 |
69.556 |
0.000 |
|
Debt/Equity
ratio |
0.063 |
0.194 |
0.000 |
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 |
705.299 |
926.063 |
989.038 |
|
|
|
31.301 |
6.800 |
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 |
705.299 |
926.063 |
989.038 |
|
Profit |
60.633 |
130.186 |
169.713 |
|
|
8.60
% |
14.06
% |
17.16
% |
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 |
No |
|
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 |
|
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
Significant
developments in 2016– 2017
During the year 176 poles were supplied to T & R for their Project order from Algeria. Along with 124 poles supplied in the prior year, the entire 300 numbers were completed.
Improvement in Tap changer off take by BHEL to 49 poles from 7 numbers of earlier year is another significant performance in the year 2016/2017
Product range expansion was attempted through development of Breather which could make a small beginning towards end of the year with sale of 13 numbers.
Prototype development of Fire Fighting Equipment had commenced and its testing and validation are in the final phases. Commercial sales are expected to be start from the first quarter of financial year 2017/2018.
“L” type sales of only 133 poles is mainly due Customer’s reluctance to change from Bolt on type. However continuous persuasive efforts are on for realizing the budgeted level of 360 poles in the year 2017/2018.
INDEX OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
B60690211 |
10370884 |
AXIS BANK LIMITED |
23/07/2012 |
09/10/2012 |
50000000.0 |
CORPORATE BANKING BRANCH, KARUMUTHU NILAYAMNO.192 ANNA SALAI CHENNAI TAMILNADU 600002 INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Claims against the company not acknowledged as debt |
3.766 |
3.766 |
|
Liability in dispute and under appeal with CESTAT in respect of service tax on insurance reimbursement during the financial year 2007-08 to 2011-12 (excluding interest and penalty) |
0.670 |
0.670 |
|
Liability in dispute and under appeal with CESTAT in respect of service tax on Manpower services for canteen during the financial year 2008-09 to 2012-13 (excluding interest and penalty) (Demand dropped) |
0.000 |
0.083 |
|
Liability in dispute and under appeal with CESTAT in respect of service tax on Trading in Securities & Fire Extinguishers during the financial year 2008-09 to 2014-15 (excluding interest and penalty) |
57.178 |
57.178 |
|
Liability in dispute and under appeal with Deputy Commissioner of Central Excise and Service Tax in respect of service tax on Trading in Securities during the financial year 2013-14 & 2014-15 (excluding interest and penalty) |
0.302 |
0.302 |
|
Liability in dispute and under appeal with Commissoner Excise (Appeals) in respect of service tax on Sales commission for the period July, 2012 to June, 2014 (excluding interest and penalty) |
0.313 |
0.313 |
|
Liability in dispute and under appeal with CESTAT in respect of service tax on Health insurance for Employees commission for the period 2011/12 to 2014/15 (excluding interest and penalty) |
0.207 |
0.207 |
|
Liability in dispute in respect of dividend distribution tax for the Assessment year 2010/2011 to 2012/2013 and in appeal before Deputy Commissioner of Income Tax, adjusted in books of account, though refund being pursued. |
0.000 |
0.792 |
|
Other money for which the company is contingently liable (in respect of bank guarantees issued) |
0.333 |
0.207 |
|
C forms to be collected from the Customers |
22.715 |
14.761 |
|
Total |
85.484 |
78.279 |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
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 64.82 |
|
UK Pound |
1 |
INR 79.94 |
|
Euro |
1 |
INR 90.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·