|
|
|
MIRA
INFORM REPORT
|
Report No. : |
494824 |
|
Report Date : |
28.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
TMEIC INDUSTRIAL SYSTEMS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. # 03-01, Level – 3, Third Floor, Block 2, Cyber Pearl, Hirech-City, Madhapur, Hyderabad - 500081, Telangana |
|
Tel. No.: |
91-40-44340000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
30.07.2010 |
|
|
|
|
Com. Reg. No.: |
36-069753 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 576.912 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74120TG2010PTC069753 |
|
|
|
|
IEC No.: |
0910025461 |
|
|
|
|
GSTIN: |
36AADCT5493J1ZV |
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|
|
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TIN/CST No: |
36903638796 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCT5493J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the
business of manufacture, sub-contracting, supply, trade, import, export,
assembly and erection of electrical and industrial equipment’s and software
catering to various industrial requirements. The Company also provides
engineering, software development, supervision of commissioning and
installation services. (Registered Activity and also Confirmed by
management) |
|
|
|
|
No. of Employees
: |
250 (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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of “Toshiba Mitsubishi -Electric Industrial Systems Corporation, Japan”. It is an established company incorporated in the year 2010 having satisfactory track records. Management of the company has not filed its financial with the government department for the year 2017. As per available financial of 2016, the company has witnessed a significant growth in its revenue by 401.84% (approximately). However, reported a loss from its operational activities. The company possesses sound financial profile marked by healthy networth base along with negligible debt recorded by the company. The company also derives strength from its strong holding entity and its experienced management team. Trade relations are reported as fair. Business is active. Payment terms are seems to be usually correct and as per commitments. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 28.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Shiv Shankar |
|
Designation : |
Senior Accountant |
|
Tel. No: |
91-9980566439 |
|
Date: |
27.02.2018 |
LOCATIONS
|
Registered Office/Factory : |
Unit No. # 03-01, Level – 3, Third Floor, Block 2, Cyber Pearl, Hirech-City, Madhapur, Hyderabad - 500081, Telangana, India |
|
Tel. No.: |
91-40-44340000 |
|
Mobile No: |
91-9980566439 (Mr. Shiv Shankar) |
|
Fax No.: |
91-40-44340034 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
Locality: |
Industrial |
|
|
|
|
Corporate Office 1: |
901/D, Filix LBS Road, Opposite Asian Paints Bhandup West, Mumbai - 400078, Maharashtra, India |
|
Tel. No.: |
91-22-61555444 |
|
Fax No.: |
91-22-61555400 |
|
|
|
|
Corporate Office 2: |
The Millenia, Tower‘A’,10th Floor, # 1 and 2 Murphy Road,
Halasuru |
|
Tel. No.: |
91-80-6751-5599 |
|
Fax No.: |
91-80-6751-5550 |
|
|
|
|
Factory: |
Power Electronic Division, 311 to 315, 2nd Phase, Vasantthanarasapura
Industrial Area, Yalladallu Village, Kora Hobli, Tumkur -572128. Karnataka,
India |
DIRECTORS
AS ON 2017
|
Name : |
Mr. Hemant Laxman Joshi |
|
Designation : |
Managing Director |
|
Address : |
Flat # 23, Swami Enclave, 1st Main, 1st Block,
Koramangala, Bangalore-560034, Karnataka, India |
|
Date of Birth/Age : |
25.11.1964 |
|
Qualification : |
Bachelor of Electrical Engineering |
|
Date of Appointment : |
14.03.2011 |
|
PAN No.: |
AAVPJ5401D |
|
DIN No.: |
00373926 |
|
|
|
|
Name : |
Declan Fergus Daly |
|
Designation : |
Director |
|
Address : |
2324, Mount Vernon Road, SW Roanoke Virginia 24015 US |
|
Date of Birth/Age : |
15.06.1967 |
|
Qualification : |
MS |
|
Date of Appointment : |
01.11.2013 |
|
DIN No.: |
06642861 |
|
|
|
|
Name : |
Mr. Ramesh Ramachandran |
|
Designation : |
Director |
|
Address : |
No. P-502, Purva Fountian Square, Marathahalli,
Bangalore-560037, Karnataka, India |
|
Date of Appointment : |
12.01.2016 |
|
DIN No.: |
06825573 |
|
|
|
|
Name : |
Shinji Tatara |
|
Designation : |
Additional Director |
|
Address : |
Toyosu 1-2-39-1806 Koto-Ku Tokyo 1350061 Japan |
|
Date of Appointment : |
14.03.2017 |
|
DIN No.: |
07742652 |
|
|
|
|
Name : |
Kenji Mori |
|
Designation : |
Additional Director |
|
Address : |
532-605, 5-8-3 Gakuennishi-Machi, Nishi-Ku, Kobe, Hyogo
6512103 Japan |
|
Date of Appointment : |
12.01.2016 |
|
DIN No.: |
07350533 |
|
|
|
|
Name : |
Yasuo Wakimoto |
|
Designation : |
Additional Director |
|
Address : |
4-46-14 Kakido Nagasaki-Shi Nagasaki, Nagasaki 8510115
Japan |
|
Date of Appointment : |
12.01.2016 |
|
DIN No.: |
07350563 |
|
|
|
|
Name : |
Shingo Matsumoto |
|
Designation : |
Additional Director |
|
Address : |
5-3-1-205, Kashinodai, Nishi-Ku Kobe 6512275 Japan |
|
Date of Appointment : |
12.01.2016 |
|
DIN No.: |
07351233 |
KEY EXECUTIVES
|
Name : |
Mr. Uday Arunrao Pathak |
|
Designation : |
Company Secretary |
|
Address : |
703, A Wing, Rosewood, Prestige Residency Behind Dalal
Engg. Co., Ghodbunder Road, Kavesar, Thane -400601, Maharashtra, India |
|
Date of Appointment : |
17.07.2014 |
|
PAN No.: |
AMHPP8731E |
|
|
|
|
Name : |
Mr. Shiv Shankar |
|
Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Toshiba Mitsubhishi – Electric Industrial Systems Corporation, Japan |
|
45691152 |
|
TMEIC Corporation, US |
|
11999600 |
|
TMEIC International Corporation, US |
|
400 |
|
Total |
|
57691152 |
As on 25.05.2016
|
Names of Allotee |
|
No. of Shares |
|
Toshiba Mitsubhishi – Electric Industrial Systems Corporation, Japan |
|
25663587 |
|
Total |
|
25663587 |
As on 24.11.2016
|
Names of Allotee |
|
No. of Shares |
|
Toshiba Mitsubhishi – Electric Industrial Systems Corporation, Japan |
|
14664906 |
|
Total |
|
14664906 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.12.2016
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged in the
business of manufacture, sub-contracting, supply, trade, import, export,
assembly and erection of electrical and industrial equipment’s and software
catering to various industrial requirements. The Company also provides
engineering, software development, supervision of commissioning and installation
services. (Registered Activity and also Confirmed by
management) |
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Products / Service: |
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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 : |
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Countries : |
Japan |
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Terms : |
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Selling : |
L/C, Cheque, Credit (30 Days) and RTGS |
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Purchasing : |
L/C, Cheque, Credit (30 Days) and RTGS |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Electronics Industry
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
Oval Office, 1B, Ilabs Centre Hitech City, Madhapur, Hyderabad-500081, Telangana, India |
|
PAN No.: |
ACHFS9118A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company* : |
|
|
|
|
|
Fellow Subsidiary: |
|
CAPITAL STRUCTURE
After: 29.12.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
INR 10/- each |
INR 2000.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
98019645 |
Equity Shares |
INR 10/- each |
INR 980.196 Million |
As on: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
INR 10/- each |
INR 2000.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
57691152 |
Equity Shares |
INR 10/- each |
INR 576.912 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
576.912 |
413.281 |
413.281 |
|
(b) Reserves and Surplus |
2688.609 |
2258.769 |
2158.218 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
1350.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4615.521 |
2672.050 |
2571.499 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7.661 |
3.670 |
3.329 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
65.998 |
11.001 |
5.324 |
|
Total Non-current
Liabilities (3) |
73.659 |
14.671 |
8.653 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1884.615 |
287.380 |
74.786 |
|
(c) Other
current liabilities |
395.291 |
150.130 |
50.126 |
|
(d) Short-term
provisions |
17.868 |
20.481 |
10.435 |
|
Total Current
Liabilities (4) |
2297.774 |
457.991 |
135.347 |
|
|
|
|
|
|
TOTAL |
6986.954 |
3144.712 |
2715.499 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
390.233 |
27.892 |
30.179 |
|
(ii)
Intangible Assets |
92.959 |
0.962 |
0.807 |
|
(iii) Tangible assets
capital work-in-progress |
1645.107 |
88.637 |
29.928 |
|
(iv)
Intangible assets under development |
285.144 |
152.846 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.070 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
10.261 |
5.284 |
|
(d)
Long-term loans and advances |
611.399 |
572.435 |
51.780 |
|
(e) Other Non-current
assets |
15.351 |
12.437 |
0.000 |
|
Total Non-Current
Assets |
3040.193 |
865.540 |
117.978 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
964.203 |
151.575 |
20.096 |
|
(c) Trade
receivables |
1397.411 |
211.218 |
126.164 |
|
(d) Cash and
bank balances |
1523.253 |
1820.038 |
2370.989 |
|
(e)
Short-term loans and advances |
37.497 |
14.142 |
27.326 |
|
(f) Other
current assets |
24.397 |
82.199 |
52.946 |
|
Total
Current Assets |
3946.761 |
2279.172 |
2597.521 |
|
|
|
|
|
|
TOTAL |
6986.954 |
3144.712 |
2715.499 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
2720.187 |
542.036 |
375.352 |
|
|
Other Income |
66.460 |
182.772 |
106.952 |
|
|
TOTAL |
2786.647 |
724.808 |
482.304 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1945.485 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
245.156 |
465.287 |
165.579 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(40.848) |
(131.479) |
0.114 |
|
|
Employee benefit expense |
353.423 |
114.491 |
81.456 |
|
|
Other expenses |
480.807 |
108.186 |
112.189 |
|
|
TOTAL |
2984.023 |
556.485 |
359.338 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(197.376) |
168.323 |
122.966 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
17.369 |
3.143 |
2.934 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(214.745) |
165.180 |
120.032 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
100.002 |
12.039 |
9.129 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(314.747) |
153.141 |
110.903 |
|
|
|
|
|
|
|
Less |
TAX |
8.126 |
52.590 |
38.631 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(322.873) |
100.551 |
72.272 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
218.088 |
7.429 |
44.905 |
|
|
TOTAL EARNINGS |
218.088 |
7.429 |
44.905 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Traded goods |
0.000 |
236.783 |
87.322 |
|
|
Capital Goods |
0.000 |
1.771 |
0.317 |
|
|
TOTAL IMPORTS |
0.000 |
238.554 |
87.639 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(6.62) |
2.43 |
5.25 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(723.078) |
14.196 |
15.605 |
|
Net cash flows from (used in) operating activities |
(743.294) |
(37.787) |
(32.102) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
187.51 |
142.23 |
122.68 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
1.95 |
2.57 |
2.98 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
314.01 |
225.44 |
164.86 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(0.20) |
1.11 |
6.12 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(0.08) |
0.62 |
2.02 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.33 |
0.15 |
0.05 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.50 |
0.17 |
0.05 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.52 |
0.10 |
0.02 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(11.36) |
53.55 |
41.91 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(11.87) |
18.55 |
19.25 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(4.62) |
3.20 |
2.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(7.00) |
3.76 |
2.81 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.72 |
4.98 |
19.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.30 |
4.65 |
19.04 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.66 |
0.85 |
0.95 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.72 |
4.98 |
19.19 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
413.281 |
413.281 |
576.912 |
|
Reserves & Surplus |
2158.218 |
2258.769 |
2688.609 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
1350.000 |
|
Net
worth |
2571.499 |
2672.050 |
4615.521 |
|
|
|
|
|
|
long-term borrowings |
3.329 |
3.670 |
7.661 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
3.329 |
3.670 |
7.661 |
|
Debt/Equity
ratio |
0.001 |
0.001 |
0.002 |
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 |
375.352 |
542.036 |
2720.187 |
|
|
|
44.407 |
401.846 |
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 |
375.352 |
542.036 |
2720.187 |
|
Profit |
72.272 |
100.551 |
(322.873) |
|
|
19.25
% |
18.55
% |
(11.87
%) |
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 |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF COMPANY'S
AFFAIRS AND FUTURE OUTLOOK
The company's total income as of 31st March, 2016, was INR 2786.847 million. The net profit for the year after taxes was INR (322.872) million.
DESCRIPTION OF
BUSINESS
The Company was incorporated on July 30, 2010 as a Private Limited Company. The Company is engaged in the business of manufacture, sub-contracting, supply, trade, import, export, assembly and erection of electrical and industrial equipment and software catering to various industrial requirements. The Company also provides engineering, software development, supervision of commissioning and installation services to its group Company.
INDEX OF CAHREGS: NO
INDEX OF CHARGES
FIXED ASSETS
- Plant and equipment
- Vehicles
- Office equipment
- Computer equipment
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR
64.82 |
|
|
1 |
INR 79.94 |
|
Euro |
1 |
INR 90.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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.