|
|
|
MIRA INFORM REPORT
|
Report No. : |
493657 |
|
Report Date : |
24.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
VIRAJ PROFILES LIMITED (w.e.f. 19.03.1998) |
|
|
|
|
Formerly Known
As : |
VIRAJ GASES LIMITED |
|
|
|
|
Registered
Office : |
G-34, MIDC Tarapur Industrial Area, Boisar, Palghar-401506,
Maharashtra |
|
Tel. No.: |
91-2525-279702 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
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|
|
|
Date of
Incorporation : |
02.02.1996 |
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|
|
|
Com. Reg. No.: |
11-096835 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 1273.161 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28113MH1996PLC096835 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0300063679 |
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|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCV1740N |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Stainless Steel Products (Basic Iron and Steel). [Registered Activity] |
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|
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|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 37000000 |
|
|
|
|
Status : |
Good |
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|
Payment Behaviour : |
Slow |
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|
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Litigation : |
Exist |
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Comments : |
Subject was established in the year 1996 and is engaged in the
business of manufacturing and exporting stainless steel products. Management has not filed its financial record with government
department for the year 2017 and same are not available from any other
sources. For the financial year 2016, the company has reported declined in its
sales but has maintained profitability margin of 0.45%. The healthy financial profile of the company is marked by its above
average networth base along with satisfactory liquidity position and average
debt level. Rating is constrained on account of its exposure to volatility in raw
material prices and foreign exchange rates and working capital intensive
operations. Business is active. Payment seems to be slow. In view of aforesaid, the company can be considered for normal
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 : BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
12.01.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term : A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
12.01.2017 |
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 DENIED BY
|
Name : |
Mr. Gagan Kochhar |
|
Designation : |
Vice President |
|
Contact No.: |
91-9049991012 |
|
Date : |
22.02.2018 |
91-22-30064000 – Not Working
LOCATIONS
|
Registered/ Marketing Office/ Factory 1 : |
Stainless Steel
Making Division G-34, MIDC Tarapur Industrial Area, Boisar, Palghar – 401506,
Maharashtra, India |
|
Tel. No.: |
91-2525-279702 |
|
Mobile No.: |
91-9049991012 (Mr. Gagan Kochhar) |
|
Fax No.: |
91-2525-260159 / 274420 |
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E-Mail : |
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|
Website : |
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|
|
|
Corporate Office 1 : |
Viraj Tower, 1st Floor, Junction of Andheri Kurla Road, Western Express Highway, Near Land Mark Building, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel No.: |
91-22-30064000 |
|
Fax No.: |
91-22-30064050 |
|
|
|
|
Corporate Office 2 : |
10, Imperial Chambers, 1st Floor, Wilson Road, Ballard Estate, Mumbai – 400038, Maharashtra, India |
|
Tel No.: |
91-22-22613056 / 22614284 / 22614327 |
|
Fax No.: |
91-22-22659713 |
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|
|
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Factory 2 : |
G-76/77, MIDC, Tarapur Industrial Area, Boisr, Thane – 401506, Maharashtra, India |
|
|
|
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Factory 3 : |
BRIGHT BAR DIVISION
/ WIRE AND WIRE RODS DIVISION G-33, MIDC Tarapur Industrial Area, (Engineering Zone), District Thane – 401506, Maharashtra, India |
|
|
|
|
Factory 4 : |
Fasteners Division G-1/3, MIDC Tarapur Industrial Area, Boisar, District Thane – 401506, Maharashtra, India |
|
|
|
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Factory 5 : |
G-22,23, MIDC Tarapur Industrial Area, Tarapur, District: Thane – 401506, Maharashtra, India |
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|
|
|
Delhi Office : |
310, 3rd Floor, Worldmark 1, Aerocity, New Delhi – 110037, India |
|
Tel No.: |
91-11-49513660 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mrs. Renu Kochhar |
|
Designation : |
Managing Director |
|
Address : |
4, Vikas Park, Juhu Tara Road, Juhu, Mumbai – 400049, Maharashtra,
India |
|
Date of Birth/Age : |
10.10.1958 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
06.09.2010 |
|
PAN No.: |
AARPK1540N |
|
DIN No.: |
00115236 |
|
|
|
|
Name : |
Mr. Neeraj Raja Kochhar |
|
Designation : |
Managing Director |
|
Address : |
4, Vikas Park, Juhu Tara Road, Juhu, Mumbai – 400049, Maharashtra,
India |
|
Date of Birth/Age : |
16.09.1958 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
06.09.2010 |
|
PAN No.: |
AMXPK6610R |
|
DIN No.: |
00115140 |
|
|
|
|
Name : |
Ms. Pooja Neeraj Mehra |
|
Designation : |
Whole-Time Director |
|
Address : |
B 74, Greater Kailash – I, New Delhi – 110048, India |
|
Date of Appointment : |
28.09.2016 |
|
DIN No.: |
01981325 |
|
|
|
|
Name : |
Mr. Joshi Atulkumar Bhagwatiprasad |
|
Designation : |
Director |
|
Address : |
10, Pratiksha Apartments, Opposite Sarswati High School Maninagar,
Ahmedabad – 380008, Gujarat, India |
|
Date of Birth/Age : |
16.07.1952 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
03.09.2013 |
|
PAN No.: |
ABWPJ7659K |
|
DIN No.: |
00115716 |
|
|
|
|
Name : |
Avinashchandra Chamanlal Kapoor |
|
Designation : |
Director |
|
Address : |
54-61, Pioneer Residency Park, 3rd Floor, Somalwada, Wardha Road,
Khamla, Nagpur – 440025, Maharashtra, India |
|
Date of Appointment : |
01.02.2017 |
|
DIN No.: |
01222003 |
|
|
|
|
Name : |
Mr. Gyan Chand Daga |
|
Designation : |
Additional Director |
|
Address : |
F-2301, Oberoi Splendor, J V Link Road, Opposite Majas Depot, Andheri
(East), Mumbai – 400060, Maharashtra, India |
|
Date of Birth/Age : |
08.09.1951 |
|
Date of Appointment : |
31.03.2016 |
|
DIN No.: |
00101534 |
|
|
|
|
Name : |
Mr. Desh Raj Dogra |
|
Designation : |
Director |
|
Address : |
Flat No.402, Somerset Building,
Adishankaracharya Road, CTS No 15C, Near Hiranandani Gardens, Powai, Mumbai –
400076, Maharashtra, India |
|
Date of Appointment : |
01.09.2017 |
|
DIN No.: |
00226775 |
KEY EXECUTIVES
|
Name : |
Mr. Jain Raman Kumar |
|
Designation : |
Chief Finance Officer |
|
Address : |
31, Venus S.V.P. Nagar, Andheri (West), Mumbai – 400053, Maharashtra,
India |
|
Date of Birth/Age : |
06.04.1960 |
|
Qualification : |
Graduate
|
|
Date of Appointment : |
28.03.2015 |
|
PAN No.: |
ABAPJ2048Q |
|
|
|
|
Name : |
Mr. Ganeshprasad Amrutlal Gupta |
|
Designation : |
Company Secretary |
|
Address : |
1-A/301, Aditya Apartment, D.B. Patel-Road, Off Haji Bapu Road, Malad (East),
Mumbai – 400097, Maharashtra, India |
|
Date of Appointment : |
12.06.2017 |
|
PAN No.: |
ANIPG9141P |
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|
|
|
Name : |
Mr. Gagan Kochhar |
|
Designation : |
Vice President |
MAJOR SHAREHOLDERS
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
14.76888063 |
|
Promoters (Body corporate) |
77.1306675 |
|
Public/Other than promoters (Individual/Hindu Undivided Family-Indian) |
0.00857119 |
|
Public/Other than promoters [Individual/Hindu Undivided Family - Non-resident Indian (NRI)] |
0.20479451 |
|
Public/Other than promoters (Financial institutions) |
0.009013 |
|
Public/Other than promoters (Foreign institutional investors) |
7.87802903 |
|
Public/Other than promoters (Mutual funds) |
0.00002945 |
|
Public/Other than promoters (Body corporate) |
0.00001469 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Stainless Steel Products (Basic Iron and Steel). [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
|
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Financial Institution : |
Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg,
Fort, Mumbai – 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Associates LLP Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N M Joshi Marg, Mahalaxmi, Maharashtra, India |
|
PAN No.: |
AADFB6889R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company [As
on 2016] : |
Bhoomika Financial Services Private Limited CIN No.: U67100MH2007PTC175256 |
|
|
|
|
Subsidiary Company
[As on 2016] : |
· Viraj Megamovers Private Limited CIN No.: U63090MH2013PTC249735 · Viraj Europe B.V · Viraj USA Inc. · Sino Investment Globle Limited |
CAPITAL STRUCTURE
AS ON 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1801000000 |
Equity Shares |
INR 1/- each |
INR 1801.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1273161086 |
Equity Shares |
INR 1/- each |
INR 1273.161 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF
FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1273.161 |
1273.161 |
1464.638 |
|
(b) Reserves and Surplus |
11561.434 |
11343.896 |
10263.055 |
|
(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) |
12834.595 |
12617.057 |
11727.693 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6655.629 |
9099.621 |
5482.976 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
92.028 |
166.036 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
236.120 |
210.057 |
162.815 |
|
Total Non-current
Liabilities (3) |
6891.749 |
9401.706 |
5811.827 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
20179.905 |
19703.140 |
18869.360 |
|
(b) Trade
payables |
1991.241 |
3111.537 |
5126.737 |
|
(c) Other
current liabilities |
3946.787 |
4360.287 |
3578.756 |
|
(d) Short-term
provisions |
184.954 |
179.705 |
8.050 |
|
Total Current Liabilities
(4) |
26302.887 |
27354.668 |
27582.903 |
|
|
|
|
|
|
TOTAL |
46029.231 |
49373.432 |
45122.423 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
12172.930 |
13086.324 |
13960.831 |
|
(ii)
Intangible Assets |
7.100 |
11.834 |
19.723 |
|
(iii) Tangible assets
capital work-in-progress |
487.998 |
378.421 |
954.072 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2034.780 |
2034.780 |
1602.624 |
|
(c) Deferred tax assets (net) |
43.322 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
1351.233 |
1922.921 |
1786.296 |
|
(e) Other
Non-current assets |
94.178 |
326.765 |
548.373 |
|
Total Non-Current
Assets |
16191.541 |
17761.045 |
18871.919 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
19476.660 |
20920.544 |
10051.888 |
|
(c) Trade
receivables |
1570.321 |
1451.319 |
2479.666 |
|
(d) Cash and
bank balances |
2174.824 |
2195.426 |
4284.704 |
|
(e)
Short-term loans and advances |
5452.050 |
5719.367 |
8354.913 |
|
(f) Other
current assets |
1163.835 |
1325.731 |
1079.333 |
|
Total
Current Assets |
29837.690 |
31612.387 |
26250.504 |
|
|
|
|
|
|
TOTAL |
46029.231 |
49373.432 |
45122.423 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
48829.942 |
57532.313 |
48591.748 |
|
|
Other Income |
468.313 |
619.548 |
524.701 |
|
|
TOTAL |
49298.255 |
58151.861 |
49116.449 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
27812.651 |
36672.251 |
30808.036 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1523.680 |
(149.658) |
(28.659) |
|
|
Employee benefit expense |
1809.591 |
1861.820 |
1728.193 |
|
|
Other expenses |
12520.065 |
12921.034 |
12379.282 |
|
|
TOTAL |
43665.987 |
51305.447 |
44886.852 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
5632.268 |
6846.414 |
4229.597 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3071.843 |
3540.606 |
2111.627 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2560.425 |
3305.808 |
2117.970 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
2290.586 |
2417.371 |
1170.608 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
269.839 |
888.437 |
947.362 |
|
|
|
|
|
|
|
Less |
TAX |
52.301 |
178.102 |
319.319 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
217.538 |
710.335 |
628.043 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.17 |
0.56 |
0.46 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
2742.092 |
2063.703 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
269.839 |
888.437 |
3619.404 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average
Collection Days (Sundry Debtors /
Operating Income * 365 Days) |
101.76 |
77.37 |
213.99 |
|
|
|
|
|
|
Account Receivables Turnover (Operating Income / Sundry Debtors) |
3.59 |
4.72 |
1.71 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
26.13 |
30.97 |
60.74 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.29 |
0.33 |
0.42 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.44 |
0.51 |
0.28 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities)
/ Total Assets) |
0.72 |
0.79 |
0.78 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.09 |
2.50 |
2.25 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.05 |
2.17 |
2.35 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.99 |
1.07 |
1.27 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.83 |
1.93 |
2.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
0.45 |
1.23 |
1.29 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.47 |
1.44 |
1.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
1.69 |
5.63 |
5.36 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets /
Current Liabilities) |
1.13 |
1.16 |
0.95 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.39 |
0.39 |
0.59 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.28 |
0.26 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
21.08 |
24.78 |
18.04 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.13 |
1.16 |
0.95 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Share Capital |
1464.638 |
1273.161 |
1273.161 |
|
Reserves & Surplus |
10263.055 |
11343.896 |
11561.434 |
|
Net
worth |
11727.693 |
12617.057 |
12834.595 |
|
|
|
|
|
|
long-term borrowings |
5482.976 |
9099.621 |
6655.629 |
|
Short term borrowings |
18869.360 |
19703.140 |
20179.905 |
|
Total
borrowings |
24352.336 |
28802.761 |
26835.534 |
|
Debt/Equity
ratio |
2.076 |
2.283 |
2.091 |
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 |
48591.748 |
57532.313 |
48829.942 |
|
|
|
18.399 |
(15.126) |
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 |
48591.748 |
57532.313 |
48829.942 |
|
Profit/(Loss) |
628.043 |
710.335 |
217.538 |
|
|
1.29% |
1.23% |
0.45% |
BALANCE
SHEET (CONSOLIDATED)
|
SOURCES OF
FUNDS |
|
|
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
1273.161 |
|
(b) Reserves and Surplus |
|
|
10745.738 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Minority interest |
|
|
1.251 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
12020.150 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
6745.630 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long-term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
236.120 |
|
Total Non-current
Liabilities (3) |
|
|
6981.750 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
|
20179.905 |
|
(b) Trade
payables |
|
|
1908.281 |
|
(c) Other
current liabilities |
|
|
4015.090 |
|
(d) Short-term
provisions |
|
|
184.955 |
|
Total Current
Liabilities (4) |
|
|
26288.231 |
|
|
|
|
|
|
TOTAL |
|
|
45290.131 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
|
|
13463.831 |
|
(ii)
Intangible Assets |
|
|
7.274 |
|
(iii) Tangible assets
capital work-in-progress |
|
|
487.998 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
841.694 |
|
(c) Deferred tax assets (net) |
|
|
66.834 |
|
(d)
Long-term loans and advances |
|
|
1356.967 |
|
(e) Other
Non-current assets |
|
|
515.617 |
|
Total Non-Current
Assets |
|
|
16740.215 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
19483.565 |
|
(c) Trade
receivables |
|
|
967.501 |
|
(d) Cash and
bank balances |
|
|
2268.753 |
|
(e)
Short-term loans and advances |
|
|
4973.346 |
|
(f) Other
current assets |
|
|
856.751 |
|
Total
Current Assets |
|
|
28549.916 |
|
|
|
|
|
|
TOTAL |
|
|
45290.131 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
|
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
|
|
57949.961 |
|
|
Other Income |
|
|
812.898 |
|
|
TOTAL |
|
|
58762.859 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
|
35718.681 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
2031.442 |
|
|
Employee benefit expense |
|
|
1905.335 |
|
|
Other expenses |
|
|
13174.819 |
|
|
TOTAL |
|
|
52830.277 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
5932.582 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
3224.081 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
2708.501 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
2356.714 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
|
351.787 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
77.856 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
|
273.931 |
|
|
|
|
|
|
|
Add/
Less |
MINORITY INTEREST |
|
|
(0.025) |
|
|
|
|
|
|
|
|
TOTAL PROFIT/(LOSS)
FOR PERIOD |
|
|
273.906 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
0.22 |
LEGAL CASES
|
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|
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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) |
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 |
NOTE: Registered office of the company has been shifted from G-76, MIDC,
Tarapur Industrial Area, Tarapur, Thane-400045, Maharashtra, India to the present address w.e.f. 17.02.2009
BACKGROUND [AS ON
2016]
The company was originally formed under the name of "Viraj Gases Limited" on 2 February 1996. VPL is predominantly engaged in production and export of value added stainless steel long products to more than 80 countries. VPL’s engineering products have wide applications across diverse industries including petrochemical plants, oil pipelines, real estate, ships, food processing, structural design, high tensile springs and cables, boilers, pressure vessels, liquid storage terminals, liquid cargo ships and surgical instruments.
Effective 30 March 2015, Bhoomika Constructions Private Limited, Dragon Eastwest Trading Private Limited, Dynasty Impoexpo Private Limited, SurekhChitra Investments Private Limited and TrishulSakti Investment Private Limited were amalgamated into VPL pursuant to the scheme approved by the Board of Directors on 19 March 2015 and sanctioned by Hon’ble High Court of Bombay on 21 November 2015. The scheme was filed with Registrar of Companies on 28 November 2015.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2016 INR
in Million |
31.03.2015 INR
in Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Bonds/debentures |
1747.724 |
488.650 |
|
Deferred payment liabilities |
37.510 |
33.445 |
|
|
|
|
|
SHORT-TERM
BORROWINGS |
|
|
|
Rupee term loans from others |
11153.848 |
10052.924 |
|
Other loans and advances |
9026.057 |
9650.216 |
|
|
|
|
|
Total |
21965.139 |
20225.235 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G38826558 |
100084600 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
29/12/2016 |
- |
- |
3377953.0 |
ONE FORBES,DR. V. B. GANDHI MARG, FORT MUMBAI MH400001IN |
|
2 |
G33270596 |
100071807 |
INDUSIND BANK LIMITED |
25/08/2016 |
- |
- |
600000000.0 |
2401 GEN THIMMAYYA ROAD CONTONMENT PUNE MA411001IN |
|
3 |
C70873526 |
10603999 |
ANDHRA BANK |
26/11/2015 |
- |
- |
840000000.0 |
NANAVATI MAHALAYA, 18, HOMI MODI STREET, FORT BRANCH, MUMBAI MH400023IN |
|
4 |
C61683918 |
10585941 |
SREI EQUIPMENT FINANCE LIMITED |
15/08/2015 |
- |
- |
39620000.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA WB700046IN |
|
5 |
C67773275 |
10597943 |
BMW FINANCIAL SERVICES PRIVATE LIMITED |
29/07/2015 |
- |
- |
45000000.0 |
DLF CYBER CITY, PHASE IIBUILDING NO. 10, TOWER C, 14TH FLOOR GURGAON HR122002IN |
|
6 |
C40657124 |
10543440 |
BMW FINANCIAL SERVICES PRIVATE LIMITED |
09/01/2015 |
- |
- |
64000000.0 |
DLF CYBER CITY, PHASE IIBUILDING NO. 10, TOWER C, 14TH FLOOR GURGAON HR122002IN |
|
7 |
C36669240 |
10536063 |
ANDHRA BANK |
09/12/2014 |
- |
- |
6670000000.0 |
NANAVATI MAHALAYA, 18, HOMI MODI STREET,FORT BRANCH, MUMBAI MH400023IN |
|
8 |
C25989278 |
10524113 |
SREI EQUIPMENT FINANCE LIMITED |
22/09/2014 |
- |
- |
18225000.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA WB700046IN |
|
9 |
C26833822 |
10524369 |
SREI EQUIPMENT FINANCE LIMITED |
22/09/2014 |
- |
- |
27923000.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA WB700046IN |
|
10 |
C21519889 |
10520977 |
STATE BANK OF INDIA |
27/08/2014 |
- |
- |
1080000000.0 |
INDUSTRIAL FINANCE BRANCH, 102, NATRAJ, 194SIR M. V. ROAD, W E HIGHWAY-METRO JUNCTION ANDHERI MUMBAI MH400069IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2016 INR
in Million |
31.03.2015 INR
in Million |
|
Corporate guarantees issued in favor of Banks for loans taken by subsidiary companies |
1597.891 |
3401.100 |
|
Export Bills Discounted with/ Negotiated by the banks |
7756.418 |
10450.744 |
|
Letter of Credits issued by the banks (Gross) |
2242.955 |
1510.759 |
|
Demands raised by Income Tax Authorities |
30.559 |
95.310 |
|
Demands raised by Service Tax Authorities |
6.497 |
6.499 |
|
Demands raised by Excise Authorities |
504.240 |
596.314 |
|
Demand raised by Custom Authorities |
100.350 |
100.350 |
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Motor 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 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.