|
|
|
MIRA INFORM REPORT
|
Report No. : |
493638 |
|
Report Date : |
23.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
MPIL STEEL STRUCTURES LIMITED [w.e.f.
17.11.2011] |
|
|
|
|
Formerly known
as : |
MULTICOLOR PROJECTS (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Trade Star, 'B' Wing, 6th Floor, J. B. Nagar Junction of Kondivita and Sir M.V. Road, Andheri (East), Mumbai – 400059, Maharashtra |
|
Tel. No.: |
91-22-42607000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
23.04.2001 |
|
|
|
|
Com. Reg. No.: |
11-131726 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 102.439 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45208MH2001PLC131726 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM6070B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacture of hot-rolled and cold-rolled products steel and other structural metal products. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined 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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 1500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject was incorporated in the year 2001 and it operates in four key
business segments i.e. pre-engineered building structures, metal building
components, heavy and complex steel structures and solar solutions. Management has failed to file its latest financials with government
Registry. As per available financials of March 2016, the company has registered
decline in its revenue as compared to its previous year’s revenue and has
reported minimal profit margin of 0.81%. Rating takes into consideration the company’s established track record
of business operations marked by sound net worth base along with strong debt
coverage indicators and decent liquidity position. Rating also takes into account the extensive experience of its
promoters in the steel fabrication industry and its established relationship
with its customers. However, rating strength are partially offset by susceptibility of
operating margin to competitive pressure and high debt funded working capital
requirement. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business
operations 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 |
CRISIL |
|
Rating |
Long Term Rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
07.07.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
07.07.2018 |
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 23.02.2018
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.:
91-22-42607000
LOCATIONS
|
Registered Office : |
Trade Star, 'B' Wing, 6th Floor, J. B. Nagar Junction of Kondivita and Sir M.V. Road, Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-42607000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Mohender Kumar Garg |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
1-C/1102, Whispering Palms, Lokhandwala Complex, Akurli
Road, Kandivali-East, Mumbai – 400101, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.08.1963 |
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Qualification : |
Graduate |
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Date of Appointment : |
30.09.2016 |
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PAN No.: |
AAVPG8683J |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00426642 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Ashwani Gupta |
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|
Designation : |
Managing Director |
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|
Address : |
Flat No.802, 8 Floor Rehena Heights, Chappel Lane,
Santacruz (West), Mumbai 400054, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.06.1955 |
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|
Qualification : |
Graduate |
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|
Date of Appointment : |
01.04.2010 |
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PAN No.: |
ACRPG7615G |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00872193 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Alok Ashwani Gupta |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No.801, 8 Floor Rehana Heights, Chappel Lane,
Santacruz (West), Bombay – 400054,
Maharashtra, India |
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|
Date of Birth/Age : |
24.05.1980 |
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Qualification : |
Post-graduate |
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|
Date of Appointment : |
23.04.2001 |
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PAN No.: |
AEBPG2408K |
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|
DIN No.: |
00872461 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Priyanka Gupta |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
801 Rehana Heights, Chapel Lane, Santa Cruz West, Mumbai -
400054, Maharashtra, India |
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|
Date of Birth/Age : |
19.10.1984 |
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Qualification : |
Post-graduate |
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|
Date of Appointment : |
07.07.2005 |
||||||||||||||||||||||||||||||||||||||||
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PAN No.: |
AMCPG5096L |
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DIN No.: |
02422462 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Kailash Goyal |
|
Designation : |
Chief Finance Officer |
|
Address : |
Flat No. 92, A Wing, Brookhaven Condominium, Near Majas Bus
Depot, J. V Link Road, Jogeshwari-East, Mumbai – 400060, Maharashtra, India |
|
Date of Birth/Age : |
06.07.1952 |
|
Qualification : |
Post-graduate |
|
Date of Appointment : |
07.09.2015 |
|
PAN No.: |
AAAPG0478Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2015
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Kumar Phoolchand Gupta |
|
1100 |
|
Vinay Kumar Phoolchand Gupta |
|
1100 |
|
Rajesh Phoolchand Gupta |
|
1100 |
|
Ashwani Phoolchand Gupta |
|
495000 |
|
Darshana Ashwani Gupta |
|
495000 |
|
Alok Ashwani Gupta |
|
380600 |
|
Vikas Anil Gupta |
|
1100 |
|
Shri Sukta Investment and Finance Limited, India |
|
1628000 |
|
Dayal Finsec Limited, India |
|
935000 |
|
Aadidev Investment and Finance Limited, India |
|
165000 |
|
PTCL Infrastructure Limited, India |
|
4178000 |
|
Priyanka Ashwani Gupta |
|
141900 |
|
Vinsan Credit and Securities Limited, India |
|
1821000 |
|
Total |
|
10243900 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2015
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
14.80 |
|
Promoter - Bodies
corporate |
56.68 |
|
Public – (Individual/ Hindu Undivided
Family – Indian) |
0.01 |
|
Public - Bodies corporate |
28.51 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of hot-rolled and cold-rolled products steel and other structural metal products. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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||||||||||||||||||
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Imports : |
Not Divulged |
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|
||||||||||||||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
||||||||||||||||||||||
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Customers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
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No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Prem Ravinder and Company Chartered Accountants |
|
Address : |
Sco- 837-38, 1St Floor, Sector 22-A |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFP0319E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
|
|
|
|
|
Enterprises where
significant influence exists, with whom the Company had transactions : |
U74899DL1995PLC070960
U65993HR1992PLC031578
U74999MH2015PTC262803 |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12500000 |
Equity Shares |
INR 10/- each |
INR 125.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10243900 |
Equity Shares |
INR 10/- each |
INR 102.439
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
102.439 |
102.439 |
102.439 |
|
(b) Reserves & Surplus |
419.981 |
417.001 |
414.973 |
|
(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) |
522.420 |
519.440 |
517.412 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
6.028 |
21.799 |
|
(b) Deferred tax liabilities
(Net) |
3.490 |
3.421 |
3.797 |
|
(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) |
3.490 |
9.449 |
25.596 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
224.153 |
213.611 |
200.431 |
|
(b) Trade payables |
131.125 |
119.074 |
151.904 |
|
(c) Other current liabilities |
18.617 |
25.997 |
40.379 |
|
(d) Short-term provisions |
1.166 |
3.510 |
5.163 |
|
Total
Current Liabilities (4) |
375.061 |
362.192 |
397.877 |
|
|
|
|
|
|
TOTAL |
900.971 |
891.081 |
940.885 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
481.489 |
490.145 |
509.635 |
|
(ii) Intangible Assets |
3.840 |
2.713 |
1.607 |
|
(iii) Capital work-in-progress |
2.680 |
1.932 |
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.125 |
2.389 |
2.648 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
490.134 |
497.179 |
513.890 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
219.766 |
215.327 |
189.050 |
|
(c) Trade receivables |
144.448 |
118.954 |
161.335 |
|
(d) Cash and cash equivalents |
5.107 |
15.228 |
17.818 |
|
(e) Short-term loans and
advances |
39.328 |
43.318 |
58.050 |
|
(f) Other current assets |
2.188 |
1.075 |
0.742 |
|
Total
Current Assets |
410.837 |
393.902 |
426.995 |
|
|
|
|
|
|
TOTAL |
900.971 |
891.081 |
940.885 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
867.093 |
939.874 |
1038.477 |
|
|
Other Income |
2.966 |
9.370 |
1.105 |
|
|
TOTAL
|
870.059 |
949.244 |
1039.582 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
677.177 |
738.602 |
792.312 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
0.315 |
(16.149) |
(4.000) |
|
|
Employees benefits expense |
22.226 |
36.436 |
31.471 |
|
|
Other expenses |
102.225 |
116.331 |
122.991 |
|
|
TOTAL |
801.943 |
875.220 |
942.774 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
68.116 |
74.024 |
96.808 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
36.427 |
39.920 |
40.269 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
31.689 |
34.104 |
56.539 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
19.466 |
22.099 |
20.830 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
12.223 |
12.005 |
35.709 |
|
|
|
|
|
|
|
Less |
TAX |
5.238 |
5.224 |
14.522 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
6.985 |
6.781 |
21.187 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
0.68 |
0.66 |
2.30 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
10.011 |
15.824 |
22.732 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
60.80 |
46.20 |
56.71 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
6.00 |
7.90 |
6.44 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
70.68 |
58.84 |
69.98 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.31 |
0.34 |
0.51 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.14 |
0.15 |
0.19 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.43 |
0.43 |
0.47 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.45 |
0.45 |
0.47 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.72 |
0.70 |
0.77 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.93 |
0.95 |
0.99 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.87 |
1.85 |
2.40 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.81 |
0.72 |
2.04 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.78 |
0.76 |
2.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
1.34 |
1.31 |
4.09 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.10 |
1.09 |
1.07 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.51 |
0.49 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.58 |
0.58 |
0.55 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.29 |
2.30 |
2.39 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets
/ Total Current Liabilities) |
1.10 |
1.09 |
1.07 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
102.439 |
102.439 |
102.439 |
|
Reserves & Surplus |
414.973 |
417.001 |
419.981 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
517.412 |
519.440 |
522.420 |
|
|
|
|
|
|
Long Term borrowings |
21.799 |
6.028 |
0.000 |
|
Short Term borrowings |
200.431 |
213.611 |
224.153 |
|
Current Maturities of Long term debt |
22.732 |
15.824 |
10.011 |
|
Total
borrowings |
244.962 |
235.463 |
234.164 |
|
Debt/Equity
ratio |
0.473 |
0.453 |
0.448 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
1038.477 |
939.874 |
867.093 |
|
|
|
(9.495) |
(7.744) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
1038.477 |
939.874 |
867.093 |
|
Profit |
21.187 |
6.781 |
6.985 |
|
|
2.04% |
0.72% |
0.81% |
LEGAL
CASES
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Presentation:- 22.02.2017 |
|||||||
|
Lodging No:- |
ITXAL/511/2017 |
Failing Date:- |
22.02.2017 |
Reg. No.:- |
ITXA/941/2017 |
Reg. Date:- |
27.06.2017 |
|
Petitioner:- |
PR. COMMISSIONER OF INCOME TAX-10 |
Respondent:- |
MPIL STEEL STRUCTURES LIMITED |
||||
|
Petn.Adv:- |
AKHILESHWAR SHARMA (827) |
||||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
DIVISION |
Category: |
TAX APPEALS |
||||
|
Status:- |
Pre-Admission |
Stage:- |
FOR REJECTION
[ORIGINAL SIDE MATTERS] |
||||
|
Next Date:- |
10.04.2018 |
||||||
|
Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
||||||
|
Act:- |
Income Tax Act, 1961 |
Under section:- |
260A |
||||
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 |
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 |
No |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL RESULTS:
During the year, the company has achieved Gross Sales of INR 959.261 Million as against INR 1046.751 Million in the previous year. The overall sales of the Company in the current financial year have declined by 8.36% compared to previous year because of ongoing slowdown in domestic market as well as in International markets. On Profitability front, The Company has earned INR 6.985 Million Net Profit (after tax) during 2015-16 as against INR 6.781 Million during the previous year.
The company remains optimistic on the demand and price outlook for company’s products in the coming year in view of new government initiative of make in India and GST which will increase demand of steel for new projects.
The overall performance of the Company under current industrial scenario for the year has been satisfactory.
OPERATIONS
The Company’s operations during the FY 2015-16 involving business as vendors for leading corporate house viz. Reliance Industries Limited, Eversendai Group Companies, Zuari Cement Limited, Bharat Heavy Electricals Limited.
The Company has taken in hand the work of development of an additional industrial land at Wada, District Thane (Maharashtra) for expansion of its manufacturing operations.
Your Company has been accepted as Registered Vendors by Bharat Heavy Electricals Ltd. (Trichy) and Bharat heavy Electricals Ltd. EDN (Bengaluru)
In order to meet requirements of its Customers for a decking sheets with higher Crest height of 80mm, the Company has imported a new decking machine from China. Company has been able to broaden the list of prestigious clients including Doosan Power Systems Private Limited, ThyssenKrupp Industries India Private Limited., JSW Steel Limited. (Dolvi). In addition, the company has been able to get substantial repeat under from JSPL, TATA Steel Limited, Eversandai Construction Private Limited., Eversandai Frontier Private Limited.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
80.707 |
79.784 |
|
Total |
80.707 |
79.784 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
B38357182 |
10352114 |
STATE BANK OF MYSORE |
17/04/2012 |
- |
- |
40000000.0 |
Andheri - East Branch, 2nd Floor, DharmakshetraMahakali Caves Road, Andheri (East)MumbaiMH400093IN |
|
2 |
C51319127 |
10214801 |
YES BANK LIMITED |
11/03/2010 |
20/04/2015 |
- |
45000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIADR. ANNIE BESANT ROAD, WORLIMUMBAIMH400018IN |
|
3 |
B29975638 |
10135507 |
STATE BANK OF MYSORE |
12/11/2008 |
19/12/2011 |
- |
20000000.0 |
Andheri - East Branch, Mahakali Caves Road,Andheri (East)MumbaiMH400093IN |
|
4 |
G38298857 |
80024519 |
STATE BANK OF MYSORE |
04/03/2006 |
02/01/2017 |
- |
285000000.0 |
CORPORATE ACCOUNTS BRANCH, C WING,MITTAL COURT, NARIMAN POINT,MUMBAIMH400021IN |
|
5 |
C09960766 |
80024520 |
STATE BANK OF MYSORE |
06/03/2006 |
14/07/2012 |
07/07/2014 |
436250000.0 |
Andheri - East Branch, P. B. No. 9445Dharmakshetra, Mahakali Caves Road, Andheri (East)MumbaiMH400093IN |
|
6 |
C09730599 |
90367656 |
STATE BANK OF MYSORE |
04/03/2006 |
- |
21/06/2014 |
92500000.0 |
MAHAKALI CAVES ROADMUMBAIMHIN |
|
7 |
C09729120 |
90350882 |
STATE BANK OF MYSORE |
23/05/2005 |
- |
21/06/2014 |
5000000.0 |
BELLARYBELLARYKAIN |
|
8 |
C07567951 |
10156560 |
STATE BANK OF MYSORE |
27/02/2009 |
- |
06/06/2014 |
10000000.0 |
Andheri - East Branch, PO No. 9445, Dharmakshetra,Mahakali Caves Road, Andheri (East),MumbaiMH400093IN |
|
9 |
C07564925 |
10257817 |
STATE BANK OF MYSORE |
26/10/2010 |
- |
06/06/2014 |
15300000.0 |
Andheri - East Branch, P. B. No. 9445Dharmakshetra, Mahakali Caves Road, Andheri (East)MumbaiMH400093IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
i. Claims not acknowledged as debts |
|
|
|
Income Tax matters* (*Income tax matters subject to proceedings under appeal in the ordinary course of business.) |
3.352 |
6.329 |
|
ii. Bank guarantees |
14.239 |
42.478 |
|
iii. Letter of Credit |
48.207 |
44.629 |
|
iv. Bill discounted |
-- |
-- |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 65.04 |
|
|
1 |
INR 90.41 |
|
Euro |
1 |
INR 79.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.