|
|
|
MIRA INFORM REPORT
|
Report No. : |
493989 |
|
Report Date : |
24.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PRIMA PLASTICS LIMITED |
|
|
|
|
Registered
Office : |
98/4, Prima House, Daman Industrial Estate, Kadaiya, Nani Daman-396210, Daman and Diu (U.T.) |
|
Tel. No.: |
91-260-2220445 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
17.11.1993 |
|
|
|
|
Com. Reg. No.: |
56-001470 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 110.005 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L25206DD1993PLC001470 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing of Moulded
Furniture and Plastic Products
(Registered Activity) |
|
|
|
|
No. of Employees
: |
285 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1993 and it is a manufacturer of Plastic Moulded Furniture. As per financials of March 2017, the company has registered decline in its revenue as compared to its previous year’s revenue and has reported good profit margin of 11.07%. Rating takes into consideration the company’s established track record of business operations marked by healthy financial risk profile along with low solvency indicators and good liquidity position. Rating also takes into account the established market position and its promoters' extensive experience in the plastic-moulded furniture industry. Share are quoted high on Stock Exchanges. (Share are traded at a price of INR 198.10 against its face value of INR 10.) However, rating strength is partially offset by its susceptibility to intense industry competition. As per unaudited quarterly financials of December 2017, the company has achieved a revenue of INR 227.990 million and has reported profit margin of 4.91%. Payments seems to be regular. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
30.12.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
30.12.2017 |
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 24.02.2018
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.: 91-22-28574769)
Tel No.:
91-260-2221845 Continuously Ringing
Tel No.:
91-22-28574768 – Not Working
LOCATIONS
|
Registered Office/ Factory 1 : |
98/4, Prima House, Daman Industrial Estate, Kadaiya, Nani Daman-396210, Daman and Diu (U.T.), India |
|
Tel. No.: |
91-260-2220445 |
|
Fax No.: |
91-260-2221845 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
41, National House, Chandivali Junction, Saki Vihar Road, Andheri (East) Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-28574769 |
|
Fax No.: |
91-22-28572859 |
|
|
|
|
Factory 2 : |
Door No. X/588-Q/A, KINFRA-SIP, Survey No.508 (Part), Block No. 32, Nellad P.O., Mazhuvannur Village, Ernakulam– 686669, Kerala, India |
|
|
|
|
Factory 3 : |
85/1, Prima House, Daman Industrial Estate, Kadaiya, Nani Daman, Daman (U.T.)- 396 210, India |
|
|
|
|
Factory 4 : |
Plot No. 543, APIIC Growth Centre, Gundlapali, Ongole, Prakasam, Andhra Pradesh, India |
|
|
|
|
Marketing Depots : |
Located at : · Coimbatore · Delhi · Hubli · Jammu · Jaipur · Kanpur · Rohtak · Bhiwandi · Talasari (Maharashtra) · Ongole (Andhra Pradesh) · Hyderabad (Telangana) · Vapi · Zirakpur (Punjab) |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Dilip Manharlal Parekh |
|
Designation : |
Managing Director |
|
Address : |
49, Shivam Building, 2nd Floor, Road No.2, JVPD Scheme Mumbai-400056, Maharashtra , India |
|
Date of Birth/Age : |
49 Years |
|
Date of Appointment : |
17.11.1993 |
|
DIN No.: |
00166385 |
|
|
|
|
Name : |
Mr. Bhaskar Manharlal Parekh |
|
Designation : |
Whole-Time Director |
|
Address : |
9, Sunder Smruti, Friends Chs Limited, JVPD Scheme, Road No.5, Vile Parle (West), Mumbai-400056, Maharashtra , India |
|
Date of Appointment : |
17.11.1993 |
|
DIN No.: |
00166520 |
|
|
|
|
Name : |
Mr. Mulchand Shamji Chheda |
|
Designation : |
Director |
|
Address : |
562, Rustom Mansion, Adenwala Road, Matunga, Mumbai-400019, Maharashtra , India |
|
Date of Appointment : |
05.12.1994 |
|
DIN No.: |
00179932 |
|
|
|
|
Name : |
Mr. Rasiklal Mansukhlal Doshi |
|
Designation : |
Director |
|
Address : |
901, Thirthal Building, Plot No. 18, N. S. Road - 4, J.V.P.D Scheme, Vile Parle (West), Mumbai-400056, Maharashtra, India |
|
Date of Appointment : |
18.06.1996 |
|
DIN No.: |
00239580 |
|
|
|
|
Name : |
Mr. Krishnakant Vrandavandas Chitalia |
|
Designation : |
Director |
|
Address : |
A / 153, Heera Panna Building, 15th Floor, Haji Ali, Mumbai-400026, Maharashtra, India |
|
Date of Appointment : |
18.06.1996 |
|
DIN No.: |
00443945 |
|
|
|
|
Name : |
Ms. Hina Vijay Mehta |
|
Designation : |
Director |
|
Address : |
B/1702, Gundecha Symphony Chsl Veera Desai Road, Andheri (West), Mumbai-400053, Maharashtra, India |
|
Date of Appointment : |
29.05.2015 |
|
DIN No.: |
07201194 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Omprakash Toshniwal |
|
Designation : |
Chief Financial Officer |
|
Address : |
403, 4th Floor, Sumil Chs, Sector No.5, Plot No.11, Charkop Kandivali (West), Mumbai-400067, Maharashtra, India |
|
Date of Appointment : |
01.06.2015 |
|
PAN No.: |
AATPT8582F |
|
|
|
|
Name : |
Ms. Nidhi Mahendrakumar Shah |
|
Designation : |
Company Secretary |
|
Address : |
B 501, Anand Sarita Anand Nagar, M G Road, Kandivali (West), Mumbai-400067, Maharashtra, India |
|
Date of Appointment : |
14.12.2017 |
|
PAN No.: |
CEXPS1254R |
MAJOR SHAREHOLDERS
As on December, 2017
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % |
|
|
(A) Promoter & Promoter
Group |
6432254 |
58.47 |
|
|
(B) Public |
4568216 |
41.53 |
|
|
Grand Total |
11000470 |
100.00 |
Statement showing shareholding pattern of the Promoter and
Promoter Group
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares (calculated
as per SCRR, 1957)As a % |
|
|
A1) Indian |
|||
|
Individuals/Hindu
undivided Family |
6432254 |
58.47 |
|
|
Madhavi Dilip Parekh |
406530 |
3.70 |
|
|
Nitika B Tolia |
40352 |
0.37 |
|
|
Mehta Vijay Mansukhlal |
10 |
0.00 |
|
|
Hina Vijay Mehta |
101 |
0.00 |
|
|
Shashikala Manhar Parekh |
486410 |
4.42 |
|
|
Dilip Manharlal Parekh |
2615420 |
23.78 |
|
|
Chhaya Bhaskar Parekh |
216711 |
1.97 |
|
|
Pratik Bhaskar Parekh |
115100 |
1.05 |
|
|
Bhaskar Manharlal Parekh |
2551610 |
23.20 |
|
|
Paras Bhaskar Parekh |
10 |
0.00 |
|
|
Sub
Total A1 |
6432254 |
58.47 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
6432254 |
58.47 |
Statement showing shareholding pattern of the Public
shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR,
1957 As a % |
|
|
B1)
Institutions |
|
|
|
|
Mutual
Funds/ |
800 |
0.01 |
|
|
Foreign
Portfolio Investors |
19891 |
0.18 |
|
|
Sub
Total B1 |
20691 |
0.19 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual
share capital upto INR 0.200 million |
2776264 |
25.24 |
|
|
Individual
share capital in excess of INR 0.200 million |
1016985 |
9.24 |
|
|
PUNIT SHAILESH. BHUPTANI |
154681 |
1.41 |
|
|
S.SHYAM |
240403 |
2.19 |
|
|
SUBRAMANIAN P |
191000 |
1.74 |
|
|
Any
Other (specify) |
754276 |
6.86 |
|
|
Bodies Corporate |
248399 |
2.26 |
|
|
Clearing Members |
31371 |
0.29 |
|
|
Director or Director's
Relatives |
19750 |
0.18 |
|
|
NRI – Non- Repat |
38931 |
0.35 |
|
|
NRI |
413180 |
3.76 |
|
|
NRI – Repat |
2595 |
0.02 |
|
|
Trusts |
50 |
0.00 |
|
|
Sub
Total B3 |
4547525 |
41.34 |
|
|
B=B1+B2+B3 |
4568216 |
41.53 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Moulded Furniture
and Plastic Products
(Registered Activity) |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
285 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Corporation Bank, IFB Branch, Bharat House, No. 104, Bombay Samachar Marg, Fort, Mumbai-400023, Maharashtra, India · Kotak Mahindra Bank Limited, 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India · Citi Bank · Bank of India ·
ICICI Bank Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
Auditors : |
|
|
Name : |
G. P. Kapadia and Company Chartered Accountants |
|
Address : |
Hamam House, Ambalal Doshi Marg, Fort, Mumbai – 400001,
Maharashtra, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company
: |
Prima Union Plasticos S.A. |
|
|
|
|
Joint Venture Company
: |
Prima Dee-Lite Plastics S.A.R.L |
|
|
|
|
Firms (Where the
Director has substantial interest) : |
· Classic Plastics · Sanya Plastics · National Plastics and Allied Industries. |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
INR 10/- each |
INR 120.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000470 |
Equity Shares |
INR 10/- each |
INR 110.005 Million |
|
|
|
|
|
Reconciliation of the
number of Share and amount outstanding at the beginning and at the end of the
reporting period.
|
Equity Shares |
As on 31.03.2017 |
|
|
Numbers |
Amount (In INR Million) |
|
|
At the beginning of the period |
11000470 |
110.005 |
|
Add/(Less) : Issued / (reduction) during the year |
-- |
-- |
|
Outstanding at the year end of the period |
11000470 |
110.005 |
Terms/rights attached
to Equity Shares:
The Company has issued only one class of Equity Shares having a par value of INR 10/- per share. Each holder of Equity Shares is entitled to one vote per share.
In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion to their shareholding.
Details of
Shareholders Holding more than 5% Shares in the Company:
|
Equity Shares |
As on 31.03.2017 |
|
|
Numbers |
% holding |
|
|
Bhaskar M. Parekh |
2551610 |
23.20% |
|
Dilip M. Parekh |
2615420 |
23.78% |
Share reserved for
issue under options and contracts / commitments
The Company has not made any contracts / commitments to issue under option (P.Y. Nil)
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
110.005 |
110.005 |
110.005 |
|
(b) Reserves & Surplus |
455.065 |
383.956 |
314.186 |
|
(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) |
565.070 |
493.961 |
424.191 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.625 |
1.205 |
2.774 |
|
(b) Deferred tax liabilities
(Net) |
19.754 |
12.465 |
12.782 |
|
(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) |
21.379 |
13.670 |
15.556 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
45.455 |
6.549 |
31.765 |
|
(b) Trade payables |
10.272 |
11.453 |
10.685 |
|
(c) Other current liabilities |
37.600 |
40.273 |
33.336 |
|
(d) Short-term provisions |
34.886 |
4.102 |
24.493 |
|
Total
Current Liabilities (4) |
128.213 |
62.377 |
100.279 |
|
|
|
|
|
|
TOTAL |
714.662 |
570.008 |
540.026 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
195.471 |
102.416 |
111.608 |
|
(ii) Intangible Assets |
0.320 |
0.391 |
0.462 |
|
(iii) Capital work-in-progress |
0.000 |
1.851 |
1.967 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
42.206 |
10.208 |
15.363 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
93.106 |
15.142 |
13.915 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
331.103 |
130.008 |
143.315 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
5.000 |
0.000 |
|
(b) Inventories |
161.076 |
155.358 |
182.187 |
|
(c) Trade receivables |
140.016 |
149.493 |
137.437 |
|
(d) Cash and cash equivalents |
28.858 |
69.079 |
25.379 |
|
(e) Short-term loans and
advances |
23.699 |
44.955 |
30.665 |
|
(f) Other current assets |
29.910 |
16.115 |
21.043 |
|
Total
Current Assets |
383.559 |
440.000 |
396.711 |
|
|
|
|
|
|
TOTAL |
714.662 |
570.008 |
540.026 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
881.239 |
940.336 |
863.192 |
|
|
Other Income |
64.422 |
38.119 |
24.111 |
|
|
TOTAL
|
945.661 |
978.455 |
887.303 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
500.075 |
505.262 |
557.655 |
|
|
Purchases of Stock-in-Trade |
19.396 |
22.996 |
27.474 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(17.719) |
37.286 |
0.277 |
|
|
Employees benefits expense |
62.404 |
53.232 |
49.968 |
|
|
Other expenses |
224.043 |
219.022 |
186.718 |
|
|
TOTAL |
788.199 |
837.798 |
822.092 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
157.462 |
140.657 |
65.211 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
5.670 |
2.632 |
10.649 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
151.792 |
138.025 |
54.562 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
9.596 |
17.634 |
11.353 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
142.196 |
120.391 |
43.209 |
|
|
|
|
|
|
|
Less |
TAX |
44.607 |
24.141 |
8.786 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
97.589 |
96.250 |
34.423 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
265.220 |
200.450 |
206.300 |
|
|
|
|
|
|
|
Less |
Retained Earnings
(Adjustment relating to Fixed Assets) |
0.000 |
0.000 |
1.791 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
5.000 |
5.000 |
5.000 |
|
|
Proposed Final Dividend
(Dividend per share INR 1/-) (Two Interim Dividend Totaling to INR 2/- per
share) |
22.001 |
22.001 |
16.501 |
|
|
Tax on Dividend |
4.479 |
4.479 |
3.300 |
|
|
Deferred Tax Liabilities |
0.000 |
0.000 |
13.681 |
|
|
Total
|
31.480 |
31.480 |
38.482 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
331.329 |
265.220 |
200.450 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
163.924 |
176.874 |
176.874 |
|
|
Freight |
|
|
|
|
|
Insurance |
|
|
|
|
|
TOTAL
EARNINGS |
163.924 |
176.874 |
176.874 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
33.157 |
0.000 |
0.000 |
|
|
Capital Goods |
10.139 |
7.453 |
7.453 |
|
|
TOTAL
IMPORTS |
43.296 |
7.453 |
7.453 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
8.87 |
8.75 |
3.13 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1.187 |
1.561 |
1.552 |
|
Cash Generated From Operations |
49.537 |
89.578 |
80.973 |
|
Net Cash Inflow / (Outflow) from Operating Activities |
18.219 |
65.120 |
72.147 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
231.910 |
232.010 |
227.990 |
|
Total Expenditure |
210.200 |
201.340 |
207.960 |
|
PBIDT (Excl OI) |
21.710 |
30.670 |
20.030 |
|
Other Income |
2.580 |
2.570 |
2.400 |
|
Operating Profit |
24.290 |
33.240 |
22.430 |
|
Interest |
1.290 |
3.400 |
4.730 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
23.000 |
29.840 |
17.700 |
|
Depreciation |
3.360 |
3.460 |
3.700 |
|
Profit Before Tax |
19.640 |
26.380 |
14.000 |
|
Tax |
7.650 |
7.850 |
2.810 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
11.990 |
18.530 |
11.200 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
11.990 |
18.530 |
11.200 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
57.99 |
58.03 |
58.12 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
6.29 |
6.29 |
6.28 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
7.22 |
7.91 |
6.67 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.98 |
0.91 |
0.36 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.80 |
1.34 |
0.57 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.18 |
0.11 |
0.19 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.09 |
0.02 |
0.09 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.23 |
0.13 |
0.24 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.35 |
0.21 |
0.27 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
27.77 |
53.44 |
6.12 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
11.07 |
10.24 |
3.99 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
13.66 |
16.89 |
6.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
17.27 |
19.49 |
8.11 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.99 |
7.05 |
3.96 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.74 |
4.56 |
2.14 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.79 |
0.87 |
0.79 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.44 |
0.08 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.99 |
7.05 |
3.96 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK PRICES
|
Face Value |
INR 10.00 |
|
Market Value |
INR 198.10 |
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 |
110.005 |
110.005 |
110.005 |
|
Reserves & Surplus |
314.186 |
383.956 |
455.065 |
|
Net
worth |
424.191 |
493.961 |
565.070 |
|
|
|
|
|
|
long-term borrowings |
2.774 |
1.205 |
1.625 |
|
Short term borrowings |
31.765 |
6.549 |
45.455 |
|
Current maturities of
long-term debts |
1.552 |
1.561 |
1.187 |
|
Total
borrowings |
36.091 |
9.315 |
48.267 |
|
Debt/Equity
ratio |
0.085 |
0.019 |
0.085 |
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 |
863.192 |
940.336 |
881.239 |
|
|
|
8.937 |
(6.285) |
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 |
863.192 |
940.336 |
881.239 |
|
Profit |
34.423 |
96.250 |
97.589 |
|
|
3.99% |
10.24% |
11.07% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
110.005 |
110.005 |
|
(b) Reserves & Surplus |
|
620.562 |
538.966 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
(3) Minority Interest |
|
3.557 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
734.124 |
648.971 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
52.515 |
1.205 |
|
(b) Deferred tax liabilities
(Net) |
|
19.754 |
12.465 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
72.269 |
13.670 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
45.455 |
6.549 |
|
(b) Trade payables |
|
34.560 |
49.922 |
|
(c) Other current liabilities |
|
82.770 |
45.267 |
|
(d) Short-term provisions |
|
56.254 |
44.866 |
|
Total
Current Liabilities (4) |
|
219.039 |
146.604 |
|
|
|
|
|
|
TOTAL |
|
1025.432 |
809.245 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
282.467 |
189.096 |
|
(ii) Intangible Assets |
|
0.320 |
0.391 |
|
(iii) Capital work-in-progress |
|
119.730 |
24.017 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
26.199 |
24.629 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
428.716 |
238.133 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
5.000 |
|
(b) Inventories |
|
219.877 |
199.051 |
|
(c) Trade receivables |
|
198.354 |
180.213 |
|
(d) Cash and cash equivalents |
|
92.733 |
100.005 |
|
(e) Short-term loans and
advances |
|
41.449 |
48.325 |
|
(f) Other current assets |
|
44.303 |
38.518 |
|
Total
Current Assets |
|
596.716 |
571.112 |
|
|
|
|
|
|
TOTAL |
|
1025.432 |
809.245 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
1268.390 |
1291.809 |
|
|
Other Income |
|
12.372 |
12.563 |
|
|
TOTAL
|
|
1280.762 |
1304.372 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials and
Components Consumed |
|
696.532 |
693.528 |
|
|
Purchases of Stock-in-Trade |
|
19.396 |
22.996 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(16.142) |
35.013 |
|
|
Employees benefits expense |
|
90.198 |
76.540 |
|
|
Other expenses |
|
276.472 |
266.083 |
|
|
TOTAL |
|
1066.456 |
1094.160 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
214.306 |
210.212 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
7.963 |
3.757 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
206.343 |
206.455 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
31.484 |
34.730 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
174.859 |
171.725 |
|
|
|
|
|
|
|
Less |
TAX |
|
68.524 |
48.950 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
106.335 |
122.775 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
9.67 |
11.16 |
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 |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY OVERVIEW
BACKGROUND
The Company is a public limited Company, incorporated in
India and has register office at 98/4 Prima House, Daman Industrial Estate,
Nani Daman, Daman-396210. It is incorporated under the Companies Act, 2013 and
its shares are listed on the Bombay Stock Exchange Limited. The Company is one
of the leading plastic moulded articles manufacturing company in India having 3
manufacturing facilities spread across the country.
OPERATIONAL
PERFORMANCE
One of the characteristic that has defined the Indian economy is “uncertainty” caused due to “demonetization”. It has come at a time when the economy was just beginning to look up; the demonetization move of the Government led to pull out of 86% of cash from the economy. Their economy even today depends heavily on cash for conduct of trade and business transactions. India is still at the nascent stage coming to terms with use of plastic money and e-pay system. The aftermath was a severe cash crunch. This cash shortage put a strain on the consumer demand. The nation went frenzy to hold on to cash to cushion against the scarcity, heavily curtailing on their spending. The effects of demonetization can be witnessed as the last 2 quarters i.e. almost half the year felt its brunt.
Net Sale from operation on standalone basis has marginally reduced to INR 870.812 Million as against INR 931.252 Million in the previous year mainly because of the uncertainty prevailing in second half of the year. The Company has reasonably performed taking into consideration the uncertainty looming in the Indian market.
The profit after tax for the current year is INR 97.589 Million as against INR 96.250 Million in the previous year – marginally improved by 1.39%. The growth in profit is mainly due to the handsome return from the overseas investment in joint venture.
MANAGEMENT'S
DISCUSSION AND ANALYSIS REPORT
OVERVIEW
The World Bank had projected that India will be the fastest growing economy in January, 2016. The fast pace of growth comes with a price. Despite the world economy continuing to be in mode of slow growth, the World bank maintains that India remained the fastest growing economy in the world with strong economic fundamentals. USA has shown sign of improvement but has kept the policy makers across the globe worried. However, India is believed to be in a positive frame due to strong political mandate and a favourable internal environment. The expectations were high from the Government on major reforms to push the Indian economy.
Still a modest slow down in the economy is anticipated with the fall in the GDP to be likely to 6.8 percent in 2016-17 as a result of temporary disruptions caused by the government’s demonetization initiative. Demonetisation caused an immediate cash crunch, which affected the economy temporarily. During the year under review India put digitization as a coping mechanism, including greater usage of digital transactions, higher rural incomes, and robust public consumption all put together it has managed to restore macroeconomic stability. Further the implementation of Goods and Services Tax (GST) could also be a complimentary reform that will support formalization, as firms have a strong incentive to register with GST to obtain input tax credit. The implementation of GST is expected to yield substantial growth dividends from higher efficiencies and raise more revenues in the long term. The Indian Rupee strengthened to the dollar post prudent budget and muted impact of demonetisation however it is anticipated to fall weak in the later part of 2017. The manufacturing sector has benefited from many new initiatives taken by the Government in the form of Make-in-India, Invest India, Start up India and e-biz Mission Mode Project, under the national e-governance plan are facilitating investment and ease of doing business in the country. Indian moulded furniture market was in general benefited due to lower polymer prices during most part of the year.
Against the back drop of the mixed conditions, the Company witnessed reasonable demand during the quarter ended December and March, 2017. Despite the overall economic environment being uncertain in the third quarter and nine months of the year, due to demonetization and other reforms initiated by the Government of India no significant impact on demand for plastic products was noticed. The Company has focused on quality products to sustain its business and has performed satisfactorily in Indian market and done reasonably well on export front.
INDUSTRY STRUCTURE
AND DEVELOPMENTS:
The Company maintains its view that Government of India’s scheme like Swatch Bharat Abhiyan, Smart city, adoption of village by Members of Parliament, affordable houses, and the continued focus on infrastructure and schemes like Make-in-India, Invest India, Start up India, under the national e-governance plan will facilitate investment and ease of doing business in the country. This will lead to development and creation of young entrepreneurs who will be job givers then seekers in the long run. There is ample opportunity for growth of businesses. The encouragement given to start ups is applaudable.
The plastic consumption in India is very minimal in comparison to developed countries however with the increasing growth in the construction activities and the focus of Government of India on social and development activities like Swachh Bharat Abhiyan, focus on providing affordable housing and infrastructure development has paved the way to a niche demand for plastic moulded articles. The Company recognises the opportunities and takes appropriate steps. The Management is confident that the innovative approach taken will fetch results.
BUSINESS OUTLOOK
With the improved sentiment of industry at large due to various Government schemes, the economic conditions, bound to improve and it is expected that the Company will also benefit and continue to grow at reasonable pace with improved margins. It has been an eventful year for the company, they have successfully set up a manufacturing unit at Ongole, Andhra Pradesh, expansion at Joint Venture at Cameroon by doubling its capacity and set up and brought into operation the Subsidiary Company at Guatemala, Central America during Financial Year 2016-17.
The Company aggressively strived to meet its target for completion of the project at Ongole, Andhra Pradesh by mid of October, 2016, however the delay in the project was due to procedural complexities. Further the project at Guatemala was on track with target to start commercial activity by November, 2016, however the complexities posed post demonetization acted as a funding barrier which led to a slight delay, despite various procedural complexities and odds the aggressive approach of the Management has enabled completion of the projects with only a marginal delay
The Company had launched new range of plastic articles with better consumer taste and expected to fetch higher demand of these products. The Company is positive on the demand growth of plastic articles in long term with higher capita income of Indian middle class. The Company is also focusing to further penetrate in new territories of Indian market.
The Company continues to explore export opportunities for its premium products and have history of getting Top Export Awards year after year from PLEX Council of India.
The Company has set up a Subsidiary Company at Guatemala, Central America which will take control of supply of products in the region however this may impact the quantum of goods exported from India.
The per capita income of middle and lower middle class are rising in India and people living in Rural India are also prospering due to higher value of their agriculture produce and agriculture lands. The per capita consumption of plastic is increasing in India but still very low when compared to western countries. Plastic moulded furniture is fast replacing conventional furniture made of woods and steel due to its various inherent advantages. The Company maintains that it is well placed to take advantage of the sustained growth in the Indian economy.
The introduction of GST is expected in a short span and will
integrate the country’s economy into one and provide level playing in every
part of the country. This is expected to boost the growth of the Company’s
business at pan India level. The Company expects to achieve about 10-15 percent
annual growth in turnover in medium term
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G73604506 |
100146786 |
KOTAK MAHINDRA BANK LIMITED |
20/12/2017 |
- |
- |
205000000.0 |
27BKC, C 27, G BLOCK BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI MAHARASHTRA 400051 INDIA |
|
2 |
G75694042 |
80053892 |
CORPORATION BANK |
10/04/2000 |
24/12/2014 |
17/01/2018 |
147500000.0 |
IFB BRANCH, BHARAT HOUSE, NO. 104, BOMBAY SAMACHAR MARG, FORT, MUMBAI MAHARASHTRA 400023 INDIA |
|
3 |
B07546237 |
80062216 |
Oman Interrnational Bank |
21/08/1996 |
- |
07/03/2011 |
51000000.0 |
SAOG A WING MITTAL COURT NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
4 |
A65508350 |
10113605 |
CORPORATION BANK |
16/08/2006 |
- |
26/06/2009 |
75000000.0 |
IFB BRANCH, BHARAT HOUSE, NO. 104, BOMBAY SAMACHAR MARG, FORT, MUMBAI MAHARASHTRA 400023 INDIA |
|
5 |
A65508988 |
10113705 |
CORPORATION BANK |
02/06/2008 |
- |
26/06/2009 |
100000000.0 |
IFB BRANCH, BHARAT HOUSE, NO. 104, BOMBAY SAMACHAR MARG, FORT, MUMBAI MAHARASHTRA 400023 INDIA |
STATEMENT
OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2017
(INR In Million)
|
PARTICULARS |
Standalone |
||
|
Quarter Ended |
Quarter Ended |
Nine Months Ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
Income From
Operations |
|
|
|
|
a. Revenue from operations |
227.987 |
228.044 |
683.800 |
|
b. Other Income |
2.404 |
2.571 |
7.038 |
|
Total Income from
Operations (Net) |
230.391 |
230.615 |
690.838 |
|
|
|
|
|
|
Expenditure |
|
|
|
|
Purchase of medicines and consumables |
142.363 |
138.081 |
419.146 |
|
Purchase of Stock-in
Trade |
2.995 |
3.037 |
10.304 |
|
Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
-3.964 |
-2.822 |
-27.887 |
|
Excise Duty expenses |
0.000 |
0.000 |
22.595 |
|
Employees Benefit Expenses |
23.643 |
21.538 |
65.228 |
|
Finance Cost |
4.732 |
3.402 |
9.426 |
|
Depreciation and Amortization Expenses |
3.699 |
3.461 |
10.515 |
|
Other expenses |
42.920 |
37.541 |
120.989 |
|
Total Expenses |
216.388 |
204.238 |
630.316 |
|
Profit / (Loss)
before exceptional Items and tax |
14.003 |
26.377 |
60.522 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
Profit / (Loss)
before tax |
14.003 |
26.377 |
60.522 |
|
Tax Expense |
|
|
|
|
- Current Tax |
2.699 |
5.629 |
15.211 |
|
- Deferred Tax |
0.107 |
2.218 |
3.270 |
|
Net Profit After
Tax |
11.197 |
18.530 |
42.041 |
|
|
|
|
|
|
Other comprehensive income |
|
|
|
|
Items that will not be reclassified to profit or loss |
(0.625) |
(0.749) |
(1.875) |
|
Income tax relating to the items that will not be reclassified
to profit or loss |
0.216 |
0.259 |
0.650 |
|
Total Other comprehensive income (Comprising profit and other comprehensive income for the period) |
10.788 |
18.040 |
40.816 |
|
|
|
|
|
|
Paid- up
Equity Share Capital (share – INR 10) |
110.005 |
110.005 |
110.005 |
|
Other Equity (as per balance sheet of the previous
accounting year) |
|
|
|
|
Earnings Per Share (of INR 10 each) (not annualized) |
|
|
|
|
Basic |
1.02 |
1.68 |
3.82 |
|
Diluted |
1.02 |
1.68 |
3.82 |
Notes:
1. The above results have been reviewed and recommended for adoption by the Audit Committee to the Board of Directors and have been approved by the Board of Directors at its meeting held on January 31, 2018. The Statutory Auditors have carried out limited review of the above financial results.
2. The Company’s business activity falls within a single operating segment i.e.
"Plastic Articles".
3. The Company has adopted Indian Accounting Standards ("IND AS")
notified by the Ministry of Corporate Affairs from April 01, 2017. The company
has presented IND AS compliant financial figures for the corresponding quarter
and nine months ended December 31, 2016.
4. Other Income for the quarter and nine months ended December 31, 2016
includes Dividend income of INR. 351.59 received from Joint Venture Company.
5. Consequent to transition to IND AS. in accordance with para 32 of IND AS 101
- First time adoption of IND AS, reconciliation between net profit under
'Previous Indian GAAP' and as per IND AS for the quarter and nine months ended
December 31, 2016 is as follows:
|
Particulars |
Quarter Ended 31.12.2016 |
Nine Months Ended 31.03.2016 |
|
Net profit for the period under previous Indian GAAP |
38.085 |
67.432 |
|
67.432Effect of fair value changes in lease deposits |
0.005 |
0.018 |
|
Actuarial (Gain)/Loss on defined benefits plans transferred to other comprehensive income |
0.213 |
1.112 |
|
Expected Credit Loss Provision |
(0.571) |
(0.934) |
|
Deferred tax in above adjustments (Net) |
0.196 |
0.316 |
|
Net profit for the period under Ind As |
37.928 |
67.944 |
6. The Government of India has implemented Goods and Service Tax (GST) from July
01, 2017 replacing Excise Duty, Service Tax and Various other Indirect Taxes.
As per IND AS 18, the revenue for the quarter and nine months ended December
31, 2017 is reported net of GST. Had the previously reported revenues were
shown net of Excise Duty, comparative revenue of the Company would have been as
follows.
|
Particulars |
Quarter Ended 31.12.2017 |
Nine Months Ended 30.09.2017 |
Quarter Ended 31.12.2017 |
|
Net revenue from operations |
227.987 |
228.44 |
661.205 |
7. Previous Period's figures have been regrouped and reclassified, wherever
necessary.
FIXED ASSETS
- Freehold Land
- Leasehold Land
- Buildings
- Plant & Machineries
- Furniture & Fixture
- Equipments
- Vehicles
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 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 : |
SUP |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--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.
·