|
|
|
MIRA INFORM REPORT
|
Report No. : |
494133 |
|
Report Date : |
23.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
MOHAN SPINTEX INDIA LIMITED |
|
|
|
|
Registered
Office : |
D.
No.11-40-1, S-1A, Chitturi Complex, Pulipartivari Street, Vijayawada-520001,
Andhra Pradesh |
|
Tel No.: |
91-866-2466266, 277, 288 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
11.05.2005 |
|
|
|
|
Com. Reg. No.: |
01-046188 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 585.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18100AP2005PLC046188 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0905008308 |
|
|
|
|
TIN No.: |
28630189388 37630189388 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM2744G |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
37AAECM2744G1ZI |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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|
Line of Business
: |
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|
|
|
|
No. of Employees
: |
2800 (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company incorporated in the year 2005 having
fine track. For the financial year ended 2017, the company has achieved healthy
operational revenue and has achieved fair profit margin at 5.43%
(approximately). The company possesses robust financial risk profile marked by strong
networth base along with fair debt level and favorable gap between trade
payables to its trade receivables. Fundamentals of the company are strong and healthy. Trade relations are reported as fair. Business is active. Payment
terms are seems 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.
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 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long-term rating: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
04.08.2017 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short-term rating: A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
04.08.2017 |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Balkrishna |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-866-2466266 |
|
Date : |
16.02.2018 |
LOCATIONS
|
Registered Office : |
D.
No.11-40-1, S-1A, Chitturi Complex, Pulipartivari Street, Vijayawada-520001,
Andhra Pradesh, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
#48-12-17, Near ESI Bus Stop, Eluru Road,
Gunadala, Vijayawada – 520 004, Andhra Pradesh, India |
|
Tel. No. : |
91-866-2466266, 277, 288 |
|
Fax No. : |
91-866-2466166 |
|
|
|
|
Factory 1 : |
Unit-I: Vattigudipadu, Agiripalli
Mandal, Krishna District – 521 211, Andhra Pradesh, India |
|
Tel. No. : |
91-8656-250456/ 250565 |
|
Fax No. : |
91-8656-250453 |
|
|
|
|
Factory 2 : |
Unit-II: Remalle, Bapulapadu Mandal, Krishna
District – 521 110, Andhra Pradesh, India |
|
Tel. No. : |
91-8656-239555/ 557/ 558 |
|
Fax No. : |
91-8656-239556 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sudhakar Chowdary Vallabhaneni |
|
Designation : |
Managing Director |
|
Address : |
59-7-3A, Acharya Ranga Street, Ramachandra Nagar, Vijayawada-520008, Andhra Pradesh, India |
|
Date of Birth/Age : |
06.06.1969 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
11.05.2005 |
|
PAN No.: |
ABXPV8246M |
|
DIN No.: |
00320555 |
|
|
|
|
Name : |
Mrs. Padmini Vallabhaneni |
|
Designation : |
Whole Time Director |
|
Address : |
D.No.59-7-3/A, Acharya Ranga Street, Rama Chandra Rao Nagar, Ward No.42, Vijayawada-520010, Andhra Pradesh, India |
|
Date of Birth/Age : |
13.06.1970 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
08.08.2008 |
|
PAN No.: |
ABXPV5566A |
|
DIN No.: |
02317647 |
|
|
|
|
Name : |
Mr. Ravi Kumar Gottimukkala |
|
Designation : |
Whole Time Director |
|
Address : |
72-5-5, Lakshmi Nursing Home Street, Patamata, Vijayawada-520007, Andhra Pradesh, India |
|
Date of Birth/Age : |
29.04.1970 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
11.05.2005 |
|
PAN No.: |
AGTPG0042R |
|
DIN No.: |
00295152 |
|
|
|
|
Name : |
Muthulur Subramanyam |
|
Designation : |
Director |
|
Address : |
Qtr No S3, Bungalows Area, Laxmidevipalli, Kothagudem-507101, Andhra Pradesh, India |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
00105017 |
|
|
|
|
Name : |
Mr. Sankar Rao Koneru |
|
Designation : |
Director |
|
Address : |
55-6-16, Krishna Mandir Road, Venkojipalem, Visakhapatnam-530022, Andhra Pradesh, India |
|
Date of Birth/Age : |
15.04.1960 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
31.03.2016 |
|
PAN No.: |
AEQPK9003F |
|
DIN No.: |
00133956 |
|
|
|
|
Name : |
Bobba Venkateswararao |
|
Designation : |
Director |
|
Address : |
D. No. 40-25-18/1, Netaji Street, Patamata Lanka, Vijayawada-520010, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.01.1960 |
|
Date of Appointment : |
31.03.2006 |
|
PAN No.: |
ANFPK3169E |
|
DIN No.: |
00161960 |
|
|
|
|
Name : |
Mr. Mohan Rao Vallabhaneni |
|
Designation : |
Director |
|
Address : |
59-7-3A, Acharya Ranga Street, Ramachandra Nagar, Vijayawada-520008, Andhra Pradesh, India |
|
Date of Birth/Age : |
19.10.1939 |
|
Date of Appointment : |
11.05.2005 |
|
PAN No.: |
AARPV7157L |
|
DIN No.: |
00320520 |
|
|
|
|
Name : |
Mr. Venkatanjan Kakarala |
|
Designation : |
Director |
|
Address : |
54-14/1-6/1, Srinivasa Nagar, Vijayawada-520008, Andhra Pradesh, India |
|
Date of Birth/Age : |
08.02.1962 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
18.08.2006 |
|
PAN No.: |
AAHPV8463H |
|
DIN No.: |
00680580 |
|
|
|
|
Name : |
Mrs. Mohana Kumari Ravella |
|
Designation : |
Director |
|
Address : |
9-63-69, Hameed Street, Vijayawada-520001, Andhra Pradesh, India |
|
Date of Birth/Age : |
04.05.1959 |
|
Date of Appointment : |
08.08.2008 |
|
PAN No.: |
ABFPR0797M |
|
DIN No.: |
02303947 |
|
|
|
|
Name : |
Yantrapragada Subba Rao |
|
Designation : |
Director |
|
Address : |
D.No.3-7-10, Ramnagar, Nidadavolu-534301, Andhra Pradesh, India |
|
Date of Birth/Age : |
11.07.1965 |
|
Date of Appointment : |
08.07.2005 |
|
DIN No.: |
03560766 |
|
|
|
|
Name : |
Mr. Ramaprasad Chalasani |
|
Designation : |
Director |
|
Address : |
11-14-262-4/902B, Manjeera Heights, B-Block, Phase 1, Chitra Layout, LB Nagar, Hyderabad-500074, Telangana, India |
|
Date of Appointment : |
15.12.2014 |
|
DIN No.: |
07030015 |
KEY EXECUTIVES
|
Name : |
Mr. Balakrishna Meka |
|
Designation : |
Chief Finance Officer |
|
Address : |
D.No.1-118, Vayyakallu, Karumanchi, Guntur-522646, Andhra Pradesh, India |
|
Date of Appointment : |
15.12.2014 |
|
PAN No: |
ARQPM4474R |
|
|
|
|
Name : |
Mr. Raghavendra Rao Medatati |
|
Designation : |
Company Secretary |
|
Address : |
61-12/4-18/1, Gayathri Road, R. L. Nagar, Vijayawada-520013, Andhra Pradesh, India |
|
Date of Appointment : |
26.11.2015 |
|
PAN No: |
AZAPM3069L |
|
|
|
|
Name : |
Mr. Balkrishna |
|
Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS
AS ON 30.09.2017
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters
(Individual/Hindu Undivided Family-Indian) |
82.86 |
|
Promoters [Individual/Hindu Undivided Family (Non-resident Indian)] |
10.26 |
|
Public/Other than promoters
(Individual/Hindu Undivided Family-Indian) |
6.88 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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||||
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Products : |
Finished Goods |
||||
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Countries : |
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||||
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|
||||
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Imports : |
Not Available |
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||||
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Terms : |
|
||||
|
Selling : |
L/C, Cash and Credit (30 / 60 Days) |
||||
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|
|||||
|
Purchasing : |
L/C, Cash and Credit (30 / 60 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
2800 (Approximately) |
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Bankers : |
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|
|||||||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Prasad and Company Chartered Accountants |
|
Address : |
29-13-46, Kaleshawara Rao Road, Suryarao Pet, Vijayawada, Andhra Pradesh, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHPP4796K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are
partners with Key management personnel and their relatives: |
|
|
|
|
|
Subsidiary
companies: |
|
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58500000 |
Equity Shares |
INR 10/- each |
INR 585.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58500000 |
Equity Shares |
INR 10/- each |
INR 585.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
585.000 |
585.000 |
585.000 |
|
(b) Reserves &
Surplus |
1507.111 |
1182.988 |
775.234 |
|
(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) |
2092.111 |
1767.988 |
1360.234 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2737.373 |
2004.515 |
2130.587 |
|
(b) Deferred tax
liabilities (Net) |
441.555 |
335.573 |
348.550 |
|
(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) |
3178.928 |
2340.088 |
2479.137 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1039.708 |
797.194 |
759.322 |
|
(b) Trade payables |
217.246 |
200.802 |
158.163 |
|
(c) Other current
liabilities |
380.516 |
319.328 |
359.122 |
|
(d) Short-term provisions |
86.085 |
73.811 |
51.629 |
|
Total Current Liabilities
(4) |
1723.555 |
1391.135 |
1328.236 |
|
|
|
|
|
|
TOTAL |
6994.594 |
5499.211 |
5167.607 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3920.667 |
3228.560 |
3360.450 |
|
(ii) Intangible Assets |
1.581 |
1.306 |
1.367 |
|
(iii) Capital
work-in-progress |
6.941 |
78.600 |
7.855 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
10.191 |
1.983 |
0.100 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
388.115 |
306.508 |
216.223 |
|
(e) Other Non-current
assets |
1.382 |
2.915 |
3.082 |
|
Total Non-Current Assets |
4328.877 |
3619.872 |
3589.077 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1015.514 |
802.732 |
903.378 |
|
(c) Trade receivables |
546.831 |
339.723 |
233.177 |
|
(d) Cash and cash
equivalents |
8.717 |
26.338 |
11.357 |
|
(e) Short-term loans and
advances |
1088.722 |
701.177 |
428.444 |
|
(f) Other current assets |
5.933 |
9.369 |
2.174 |
|
Total Current Assets |
2665.717 |
1879.339 |
1578.530 |
|
|
|
|
|
|
TOTAL |
6994.594 |
5499.211 |
5167.607 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
5968.331 |
5951.829 |
3891.843 |
|
|
Other Income |
38.370 |
73.709 |
8.308 |
|
|
TOTAL |
6006.701 |
6025.538 |
3900.151 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3581.536 |
2915.259 |
2061.789 |
|
|
Purchases of
Stock-in-Trade |
450.283 |
1157.066 |
523.973 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(110.519) |
6.048 |
(30.989) |
|
|
Employee benefit expense |
270.514 |
239.145 |
142.531 |
|
|
CSR expenditure |
8.823 |
1.896 |
0.000 |
|
|
Other expenses |
940.108 |
856.029 |
525.531 |
|
|
TOTAL |
5140.745 |
5175.443 |
3222.835 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
865.956 |
850.095 |
677.316 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
209.497 |
251.437 |
207.330 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
656.459 |
598.658 |
469.986 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
169.334 |
147.371 |
80.546 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
487.125 |
451.287 |
389.440 |
|
|
|
|
|
|
|
Less |
TAX |
163.002 |
43.533 |
245.863 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
324.123 |
407.754 |
143.577 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1822.934 |
2925.637 |
1836.806 |
|
|
TOTAL
EARNINGS |
1822.934 |
2925.637 |
1836.806 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
5.54 |
6.97 |
2.45 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
344.200 |
296.423 |
328.003 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
40.238 |
545.578 |
585.470 |
|
Net cash flows from (used in) operating activities |
(39.967) |
466.673 |
516.630 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
33.44 |
20.83 |
21.87 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
10.91 |
17.52 |
16.69 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
19.67 |
18.00 |
22.33 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.85 |
1.06 |
0.75 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.22 |
0.26 |
0.20 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.69 |
0.67 |
0.73 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.97 |
1.75 |
2.37 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.82 |
0.79 |
0.98 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.88 |
1.87 |
2.48 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.13 |
3.38 |
3.27 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
5.43 |
6.85 |
3.69 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.63 |
7.41 |
2.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
15.49 |
23.06 |
10.56 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.55 |
1.35 |
1.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.96 |
0.77 |
0.51 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.30 |
0.32 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
7.04 |
5.30 |
5.50 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.55 |
1.35 |
1.19 |
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 |
585.000 |
585.000 |
585.000 |
|
Reserves & Surplus |
775.234 |
1182.988 |
1507.111 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1360.234 |
1767.988 |
2092.111 |
|
|
|
|
|
|
Long-term borrowings |
2130.587 |
2004.515 |
2737.373 |
|
Short term borrowings |
759.322 |
797.194 |
1039.708 |
|
Current maturities of
long-term debts |
328.003 |
296.423 |
344.200 |
|
Total
borrowings |
3217.912 |
3098.132 |
4121.281 |
|
Debt/Equity
ratio |
2.366 |
1.752 |
1.970 |
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 |
3891.843 |
5951.829 |
5968.331 |
|
|
|
52.931 |
0.277 |
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 |
3891.843 |
5951.829 |
5968.331 |
|
Profit/ (Loss) |
143.577 |
407.754 |
324.123 |
|
|
3.69
% |
6.85
% |
5.43
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
585.000 |
585.000 |
|
(b) Reserves & Surplus |
|
1507.845 |
1183.724 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2092.845 |
1768.724 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2740.523 |
2007.664 |
|
(b) Deferred tax liabilities
(Net) |
|
441.555 |
335.573 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
3182.078 |
2343.237 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1040.436 |
797.193 |
|
(b) Trade payables |
|
218.296 |
203.335 |
|
(c) Other current liabilities |
|
367.842 |
319.222 |
|
(d) Short-term provisions |
|
86.982 |
74.141 |
|
Total
Current Liabilities (4) |
|
1713.556 |
1393.891 |
|
|
|
|
|
|
TOTAL |
|
6988.479 |
5505.852 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
3923.858 |
3231.751 |
|
(ii) Intangible Assets |
|
1.582 |
1.306 |
|
(iii) Capital work-in-progress |
|
6.941 |
78.600 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.117 |
0.083 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
388.117 |
306.509 |
|
(e) Other Non-current assets |
|
1.631 |
3.064 |
|
Total
Non-Current Assets |
|
4322.246 |
3621.313 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1029.973 |
802.732 |
|
(c) Trade receivables |
|
531.811 |
339.723 |
|
(d) Cash and cash equivalents |
|
11.266 |
28.153 |
|
(e) Short-term loans and
advances |
|
1087.251 |
704.563 |
|
(f) Other current assets |
|
5.932 |
9.368 |
|
Total
Current Assets |
|
2666.233 |
1884.539 |
|
|
|
|
|
|
TOTAL |
|
6988.479 |
5505.852 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
6094.874 |
6034.828 |
|
|
Other Income |
|
40.655 |
73.709 |
|
|
TOTAL |
|
6135.529 |
6108.537 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
3581.536 |
2915.259 |
|
|
Purchases of Stock-in-Trade |
|
578.002 |
1232.712 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(124.978) |
6.048 |
|
|
Employees benefits expense |
|
270.515 |
239.145 |
|
|
Other expenses |
|
958.025 |
864.213 |
|
|
TOTAL
|
|
5263.100 |
5257.377 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
872.429 |
851.160 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
215.007 |
251.437 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
657.422 |
599.723 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
169.334 |
147.371 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
488.088 |
452.352 |
|
|
|
|
|
|
|
Less |
TAX |
|
163.900 |
43.862 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
324.188 |
408.490 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
5.54 |
6.99 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
COMPANY PERFORMANCE
On standalone basis, revenue from operations for FY 2016-17 is at INR 6006.701 million, marginal decline by (0.31%) over INR 6025.538 million in FY 2015-16. Earnings before interest, tax and depreciation (EBITD) is at INR 865.956 lakhs registered a growth of 1.89% over the EBITD of INR 850.095 million in FY 2015-16. Profit after Tax (“PAT”) for the year was INR 324.123 million registering a decline of (20.51%) over the PAT of INR 407.754 million in FY 2015-16
CORPORATE INFORMATION
The Company was incorporated in India on 11 May, 2005 under the Companies Act, 1956 to manufacture and sells textile products.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G47948070 |
10268112 |
ANDHRA BANK |
07/02/2011 |
20/05/2017 |
- |
4054200000.0 |
R. R. APPA RAO STREET, P. B. NO. 22, ANDHRA BANK BUILDINGS, VIJAYAWADA-520001, ANDHRA PRADESH, INDIA |
|
2 |
C75439430 |
10294138 |
Indian Overseas Bank |
20/06/2011 |
- |
07/01/2016 |
11000000.0 |
RING ROAD BRANCH, NEAR BENZ CIRCLE, VIJAYAWADA-520008, ANDHRA PRADESH, INDIA |
|
3 |
C75438093 |
10248358 |
Indian Overseas Bank |
19/08/2010 |
14/12/2011 |
07/01/2016 |
325000000.0 |
RING ROAD BRANCH, NEAR BENZ CIRCLE, VIJAYAWADA-520008, ANDHRA PRADESH, INDIA |
|
4 |
C75438770 |
10405793 |
Indian Overseas Bank |
28/12/2012 |
- |
07/01/2016 |
35000000.0 |
RING ROAD BRANCH, NEAR BENZ CIRCLE, VIJAYAWADA-520008, ANDHRA PRADESH, INDIA |
|
5 |
C76336411 |
10477318 |
Andhra Bank |
10/01/2014 |
- |
05/01/2016 |
135000000.0 |
R. R. APPA RAO STREET, P. B. NO. 22, ANDHRA BANK BUILDINGS, VIJAYAWADA-520001, ANDHRA PRADESH, INDIA |
|
6 |
C76360056 |
10331963 |
Andhra Bank |
30/11/2011 |
16/08/2014 |
05/01/2016 |
812000000.0 |
R. R. APPA RAO STREET, P. B. NO. 22, ANDHRA BANK BUILDINGS, VIJAYAWADA-520001, ANDHRA PRADESH, INDIA |
|
7 |
C76360783 |
10294128 |
Andhra Bank |
16/06/2011 |
- |
05/01/2016 |
16900000.0 |
R. R. APPA RAO STREET, P. B. NO. 22, ANDHRA BANK BUILDINGS, VIJAYAWADA-520001, ANDHRA PRADESH, INDIA |
|
8 |
C76361955 |
10202312 |
Andhra Bank |
27/01/2010 |
04/02/2010 |
05/01/2016 |
607500000.0 |
R. R. APPA RAO STREET, P. B. NO. 22, ANDHRA BANK BUILDINGS, VIJAYAWADA-520001, ANDHRA PRADESH, INDIA |
|
9 |
C76361369 |
10294132 |
Andhra Bank |
09/06/2011 |
- |
05/01/2016 |
197500000.0 |
R. R. APPA RAO STREET, P. B. NO. 22, ANDHRA BANK BUILDINGS, VIJAYAWADA-520001, ANDHRA PRADESH, INDIA |
|
10 |
C74783317 |
10003742 |
State Bank of India |
12/05/2006 |
20/06/2011 |
04/01/2016 |
673400000.0 |
PATAMATA BRANCH, PATAMATA, VIJAYAWADA-520007, ANDHRA PRADESH, INDIA |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment’s
Intangible assets
- 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 64.82 |
|
|
1 |
INR 79.94 |
|
Euro |
1 |
INR 90.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RKI |
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.