|
|
|
MIRA INFORM REPORT
|
Report No. : |
494540 |
|
Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
GENUS ELECTROTECH LIMITED |
|
|
|
|
Registered
Office : |
D-116, Okhla Industries Area, Phase-1, New Delhi - 110020 |
|
Tel. No.: |
91-11-41015701 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
23.07.2003 |
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|
|
|
Com. Reg. No.: |
55-121435 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 41.388 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109DL2003PLC121435 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0503063207 |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
07AABCG9645H2ZD |
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|
|
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TIN No.: |
07280383565 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCG9645H |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
The Company is primarily engaged in the business of
manufacturing of electronics, electrical and home appliances goods like LED TVs,
Cables, Printed Circuit Board, Air Coolers, Washing Machines, Electric Table
Fan, Food Mixer, Set Top Box, LED Lightings and Fixtures etc. [Registered
Activity] |
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|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2003 and it is a manufacturer of electronic, electrical and home appliances products. 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 average profit margin of 1.76%. Rating takes into consideration the company’s established track record of business operations marked by healthy net worth base along with comfortable debt coverage indicators and good liquidity position. Rating also takes into account the company’s backward integrated manufacturing facility with established order execution capabilities and flexibility to manufacturer a wide range of appliances. Further, the company has reported earnings per share of INR 8.87 against its face value of INR 10. However, rating strength is partially offset by relatively high client concentration risk and stiff competitive pressures. Payments seems to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Rating = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
22.03.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
22.03.2017 |
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 27.02.2018.
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.: 91-11-47114800)
LOCATIONS
|
Registered Office / Marketing Office 1: |
D-116, Okhla Industries Area, Phase-1, New Delhi – 110020, India |
|
Tel. No.: |
91-11-41015701 |
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Fax No.: |
91-11-26819028 |
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E-Mail : |
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|
Website : |
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Head Office/ Factory : |
Survey No.43, Meghpar Borichi, Galpadar
Road, Taluka Anjar, District: Kutch, Gandhidham - 370110, Gujarat, India |
|
Tel. No.: |
91-2836-240872 / 295212 / 79-4001819 |
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Fax No.: |
91-2836-240872 / 295212 / 79-4001819 |
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E-Mail : |
|
|
|
|
|
Marketing Office 2 : |
#24, 1st Floor, RV Layout, Bangalore, Karnataka, India |
|
Telefax : |
91-80-23464464 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Vishnu Dutt Todi |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
87/88, Navratna Residency, Near Holiday Village Resort, Galpadar Road, Taluka Anjar, District Kutch – 370110, Gujarat, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.03.1969 |
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Qualification: |
Chartered Accountant |
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|
Date of Appointment : |
23.07.2003 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ADLPT5919D |
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|
DIN No.: |
00294593 |
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||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Richa Agarwal |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Near Moradabad, Dharam Kanta Kanth Road, Harthala, Moradabad – 244001, Uttar Pradesh, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.11.1980 |
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|
Qualification: |
Chartered Accountant |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2015 |
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DIN No.: |
02097581 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Ashutosh Todi |
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Designation : |
Director |
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|
Address : |
216 Ravi Nagar Mughalsarai, Chandauli – 232101, Uttar Pradesh, India |
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Date of Birth/Age : |
01.09.1991 |
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Qualification: |
B.Tech (IT) |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2015 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07053391 |
||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ishwar Chand Agarwal |
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|
Designation : |
Director |
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|
Address : |
12, Dwarkapuri, Jamnalal Bajaj Marg, C-Scheme, Jaipur – 302001, Rajasthan, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.04.1950 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
Graduate |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
23.07.2003 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00011152 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Anilkumar Muniswamy |
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|
Designation : |
Director |
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|
Address : |
# 17, Binny Layout, 3rd Cross, 2nd Main, Attiguppe Vijayanagar, 2nd Stage, Bangalore – 560040, Karnataka, India |
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Date of Birth/Age : |
18.02.1964 |
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Qualification: |
B. E. (Electronics & Communications), Diploma In Management From Insead Etc. |
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|
Date of Appointment : |
30.09.2015 |
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DIN No.: |
00275626 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Atit Jani |
|
Designation : |
Company Secretary |
|
Address : |
182/A, Hemukalani Nagar, Ward 6-B, Adipur, Taluka Anjar, District Kutch Adipur – 370205, Gujarat, India |
|
Date of Appointment : |
15.10.2005 |
|
PAN No.: |
AFGPJ7010L |
MAJOR SHAREHOLDERS
AS ON 29.09.2017
|
Names of Shareholders |
|
No. of Shares |
|
Ishwar Chand Agarwal |
|
786000 |
|
Vishnu Todi |
|
696750 |
|
Rajendra Kumar Agarwal |
|
149100 |
|
Giriraj Kishore Sharma |
|
100 |
|
Rameshwar Pareek |
|
100 |
|
B S Solanki |
|
100 |
|
Ankit Jhanjhari |
|
100 |
|
Kailash Coal and Coke Co Limited |
|
20,000 |
|
Banwari Lal Todi |
|
297000 |
|
Phoos Raj Todi HUF |
|
293000 |
|
Bajrang Lal Todi HUF |
|
158000 |
|
Manju Devi Todi |
|
170000 |
|
Anand Todi HUF |
|
50000 |
|
Amrit Lal Todi |
|
179000 |
|
Amrit Lal Todi HUF |
|
226000 |
|
Narayan Prasad Todi HUF |
|
325000 |
|
Narayan Prasad Todi |
|
150000 |
|
Ishwar Chand Agarwal HUF |
|
359000 |
|
Genus Paper and Boards Limited |
|
279500 |
|
Total |
|
4138750 |
AS ON 29.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Individual/Hindu Undivided Family – Indian] |
92.76 |
|
Promoters – [Bodies corporate] |
7.24 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the business of
manufacturing of electronics, electrical and home appliances goods like LED TVs,
Cables, Printed Circuit Board, Air Coolers, Washing Machines, Electric Table
Fan, Food Mixer, Set Top Box, LED Lightings and Fixtures etc. [Registered
Activity] |
||||
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|
||||
|
Products / Services
: |
|
||||
|
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|
||||
|
Brand Names : |
Not Available |
||||
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|
||||
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
||||
|
|
|
||||
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Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
||||||||||||||||||||||
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Customers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
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|
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
D. Khanna and Associates Chartered Accountants |
|
Address : |
G-6, Royal Sundram, Plot No. 1, Vivekanand Marg , C-Scheme, Jaipur - 302001, Rajasthan, India |
|
PAN No.: |
AADFD4108M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
[CIN NO.: U23101UP1984PLC028158]
[CIN NO.: L51909UP1992PLC051997]
|
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4138750 |
Equity Shares |
INR 10/- each |
INR 41.388 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
41.388 |
41.388 |
41.388 |
|
(b) Reserves &
Surplus |
1159.015 |
1122.306 |
1057.834 |
|
(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) |
1200.403 |
1163.694 |
1099.222 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
118.167 |
6.587 |
15.205 |
|
(b) Deferred tax
liabilities (Net) |
85.232 |
64.981 |
38.683 |
|
(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) |
203.399 |
71.568 |
53.888 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
678.087 |
1282.733 |
825.601 |
|
(b) Trade payables |
276.530 |
801.733 |
783.388 |
|
(c) Other current
liabilities |
54.198 |
121.476 |
214.398 |
|
(d) Short-term provisions |
16.396 |
15.835 |
8.554 |
|
Total Current Liabilities
(4) |
1025.211 |
2221.777 |
1831.941 |
|
|
|
|
|
|
TOTAL |
2429.013 |
3457.039 |
2985.051 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
687.586 |
512.504 |
539.976 |
|
(ii) Intangible Assets |
0.055 |
0.046 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
1.132 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
687.641 |
512.550 |
541.108 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
799.003 |
581.485 |
979.290 |
|
(c) Trade receivables |
699.099 |
2136.473 |
1137.427 |
|
(d) Cash and cash
equivalents |
39.758 |
74.111 |
88.901 |
|
(e) Short-term loans and
advances |
203.512 |
152.420 |
238.325 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1741.372 |
2944.489 |
2443.943 |
|
|
|
|
|
|
TOTAL |
2429.013 |
3457.039 |
2985.051 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
2082.998 |
4135.508 |
2318.834 |
|
|
Other Income |
9.269 |
8.958 |
9.712 |
|
|
TOTAL |
2092.267 |
4144.466 |
2328.546 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1721.288 |
3036.432 |
1929.832 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(122.796) |
233.584 |
(234.781) |
|
|
Employees benefits
expense |
94.674 |
167.896 |
139.992 |
|
|
CSR expenditure |
1.789 |
0.155 |
0.144 |
|
|
Other expenses |
139.034 |
362.085 |
208.790 |
|
|
TOTAL |
1833.989 |
3800.152 |
2043.977 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
258.278 |
344.314 |
284.569 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
136.794 |
192.404 |
141.851 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
121.484 |
151.910 |
142.718 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
64.524 |
61.140 |
68.056 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
56.960 |
90.770 |
74.662 |
|
|
|
|
|
|
|
Less |
TAX |
20.251 |
26.297 |
22.550 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
36.709 |
64.473 |
52.112 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
36.929 |
9.568 |
16.049 |
|
|
TOTAL EARNINGS |
36.929 |
9.568 |
16.049 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
204.763 |
1342.396 |
487.530 |
|
|
Components and Stores
parts |
2.244 |
4.132 |
4.546 |
|
|
Capital Goods |
95.483 |
26.840 |
1.716 |
|
|
TOTAL IMPORTS |
302.490 |
1373.368 |
493.792 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
|
|
|
|
|
Basic |
8.87 |
15.58 |
12.59 |
|
|
Diluted |
8.87 |
15.58 |
12.59 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
42.449 |
67.574 |
84.110 |
|
Net cash flow from (used in) operations |
841.180 |
(243.146) |
430.970 |
|
Net cash flows from (used in) operating activities |
704.386 |
(435.550) |
289.119 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
122.50 |
188.57 |
179.04 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
2.98 |
1.94 |
2.04 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
58.64 |
96.37 |
148.17 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.32 |
0.59 |
0.29 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.38 |
0.67 |
0.53 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.49 |
0.66 |
0.65 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.70 |
1.17 |
0.84 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.85 |
1.91 |
1.67 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.57 |
0.44 |
0.49 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.89 |
1.79 |
2.01 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
1.76 |
1.56 |
2.25 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.51 |
1.86 |
1.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
3.06 |
5.54 |
4.74 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.70 |
1.33 |
1.33 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.92 |
1.06 |
0.80 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.49 |
0.34 |
0.37 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
20.26 |
32.78 |
22.35 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.70 |
1.33 |
1.33 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
41.388 |
41.388 |
41.388 |
|
Reserves & Surplus |
1057.834 |
1122.306 |
1159.015 |
|
Net
worth |
1099.222 |
1163.694 |
1200.403 |
|
|
|
|
|
|
Long Term borrowings |
15.205 |
6.587 |
118.167 |
|
Short Term borrowings |
825.601 |
1282.733 |
678.087 |
|
Current Maturities of Long term debt |
84.110 |
67.574 |
42.449 |
|
Total
borrowings |
924.916 |
1356.894 |
838.703 |
|
Debt/Equity
ratio |
0.841 |
1.166 |
0.699 |
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
|
2318.834 |
4135.508 |
2082.998 |
|
|
|
78.344 |
(49.631) |
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
|
2318.834 |
4135.508 |
2082.998 |
|
Profit |
52.112 |
64.473 |
36.709 |
|
|
2.25% |
1.56% |
1.76% |
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 |
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 |
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 |
Note: The registered address
of the company has been shifted from “76 Defence Enclave, Oppreet Vihar Patrol
Pump, New Delhi -110092, India” to the present registered address w.e.f.
25.07.2015
REVIEW OF FINANCIAL
PERFORMANCE AND THE STATE OF THE COMPANY’S AFFAIRS:
Revenue from operations of the Company declined in the FY 2016-17 by 52% to INR 2205.273 Million from INR 4599.453 Million reported in the previous year, owing due to –
Fully execution of the order received from TNCSC for supply of Table Fan & Mixer amounting to INR 3880.000 Million in the FY 2015-16.
Effect of demonetization from November 2016 & onwards Business of the other plant also affected due to full concentration of the management on expansion of Printed Circuit Board plant (PCB).
Accidental death of wife of Shri Vishnu Todi, Managing Director of the Company, on 11.11.2016, at National Burns Centre, Airoli, Mumbai, who had been heavily burnt due to her cloth caught the flame of lamp kept against the temple at his home on 31.10.2016 (on the occasion of Diwali) and also both hands and leg of Shri Vishnu Todi also burnt at about 10% while extinguishing the fire on the body of her wife. Due to the above incident, Shri Vishnu Todi was totally disturbed and not able to look after/ gave full attention to the business of the Company during the period from 31.10.2016 to March 2017.
Profit before depreciation, interest and tax (PBDIT) for the year, declined to INR 7.800 Million in the FY 2016-17 from INR 344.315 Million in the previous year on account decline in sales.
Profit before tax (PBT), declined to INR 56.960 Million in the FY 2016-17 from INR 90.770 Million in the previous year mainly due to the decline in sales.
Profit after tax (PAT), declined to INR 36.709 Million in the FY 2016-17 from INR 64.473 Million in the previous year 2015-16.
Finance Cost reduced to INR 136.794 Million in the FY 2016 -17 from INR 192.404 Million in the previous year on account of better management of borrowings and utilization of available funds.
The Company has also received “Best Electronics Company - Gujarat” award from Gujarat Electronics & Software Industries Association (GESIA), Ahmedabad, in March 2010, 2011, 2014 & 2015.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G35037498 |
100052891 |
IDBI BANK LIMITED |
29/09/2016 |
30/01/2017 |
- |
130000000.0 |
SPECIALISED CORPORATE BRANCH, JEEVAN NIDHI BUILDINGLIC COMPLEX, AMBEDKAR CIRCLE, BHAWANI SINGH ROAD, JAIPUR – 302005, RAJASTHAN, INDIA |
|
2 |
C62115464 |
10586879 |
STATE BANK OF BIKANER AND JAIPUR |
27/07/2015 |
- |
- |
250000000.0 |
SMS HIGHWAY BRANCH, CHAURA RASTA, JAIPUR – 302003, RAJASTHAN, INDIA |
|
3 |
G34966408 |
10487880 |
STATE BANK OF BIKANER AND JAIPUR |
31/03/2014 |
30/01/2017 |
- |
180000000.0 |
SMS HIGHWAY BRANCH, CHAURA RASTA, JAIPUR – 302003, RAJASTHAN, INDIA |
|
4 |
B97314868 |
10390783 |
IDBI BANK LIMITED |
07/11/2012 |
10/02/2014 |
- |
43600000.0 |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI – 400005, MAHARASHTRA, INDIA |
|
5 |
G05841903 |
10388629 |
STATE BANK OF INDIA |
01/11/2012 |
18/06/2016 |
- |
520000000.0 |
OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN,1, TOLSTOY MARG, NEW DELHI – 110001, INDIA |
|
6 |
B67584482 |
10184771 |
IDBI BANK LIMITED |
17/11/2009 |
29/01/2013 |
- |
580000000.0 |
IDBI TOWERWTC COMPLE, XCUFFE PARADE, MUMBAI – 400005, MAHARASHTRA, INDIA |
|
7 |
B77156123 |
10076215 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
31/10/2007 |
23/05/2013 |
- |
120000000.0 |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI – 400703, MAHARASHTRA, INDIA |
|
8 |
C54619465 |
10020917 |
AXIS BANK LIMITED |
26/08/2006 |
18/05/2015 |
- |
468000000.0 |
PLOT NO.349, WARD 12/B, GANDHIDHAM - 370201, GUJARAT, INDIA |
|
9 |
C62876230 |
10310579 |
KOTAK MAHINDRA BANK LIMITED |
29/09/2011 |
- |
22/08/2015 |
136500000.0 |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI – 400021, MAHARASHTRA, INDIA |
|
10 |
B65802969 |
10174936 |
DBS BANK LIMITED |
08/08/2009 |
12/01/2010 |
08/01/2013 |
120000000.0 |
UPPER GROUND FLOOR, BIRLA TOWER,25, BARAKHAMBA ROAD, NEW DELHI – 110001, INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees |
94.764 |
174.717 |
|
Other money for which company is contingently liable |
113.928 |
80.273 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
· Plant and Equipment
·
Furniture and Fixtures
·
Computer
·
Vehicles
·
Office Equipment
· Livestock
Intangible assets
· Brands and trade marks
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.66 |
|
|
1 |
INR 79.70 |
|
Euro |
1 |
INR 90.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
GEET |
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.