|
|
|
MIRA
INFORM REPORT
|
Report No. : |
494150 |
|
Report Date : |
28.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
TRANSFORMERS AND ELECTRICALS KERALA LIMITED |
|
|
|
|
Registered
Office : |
AP, VII/336, Angamali South P O, Eranakulam-683573, Kerala |
|
Tel. No.: |
91-484-2510251 / 2454597 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
09.12.1963 |
|
|
|
|
Com. Reg. No.: |
09-002043 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 429.696 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31102KL1963SGC002043 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TIN No.: |
32150234812 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT6205D |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
32AAACT6205D2ZY |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of heavy Electrical equipment such as Transformers,
Turbines and other Electrical and Allied Machinery. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a “Government of Kerala” undertaking and it was incorporated in the year 1963. It is a manufacturer and exporter of power transformers, switch gears and isolated phase etc. Management has failed to file its latest financials with Government Registry. As per financials of March 2016, the company has registered growth of 16.88% in its revenue as compared to its previous year’s revenue but has reported losses. Rating takes into consideration the company’s long established track record of business operations marked by sound net worth base along with low solvency indicators and decent liquidity position. Rating also takes into account the strong financial and managerial support received from its Government of Kerala. However, rating strength is partially offset by its continuous losses from its operations. Payments seems to be slow but correct. 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 |
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 DENIED
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-484-2510251)
LOCATIONS
|
Registered Office : |
AP, VII/336, Angamali South P O, Eranakulam-683573, Kerala, India |
|
Tel. No.: |
91-484-2510251 / 2454597 |
|
Fax No.: |
91-484-2452363 / 2452873 / 2458995 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Saptarshi Roy |
||||||||||||||||||||||||||||||||
|
Designation : |
Nominee |
||||||||||||||||||||||||||||||||
|
Address : |
E-703, F-31 Shubhkamna Appt, F-31 Sector-50, (F-Block), Noida – 201303, Uttar Pradesh, India |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.10.2016 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
03584600 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Sudhir Arya |
||||||||||||||||||||||||||||||||
|
Designation : |
Nominee Director |
||||||||||||||||||||||||||||||||
|
Address : |
E-63, Preet Vihar Vikas Marg, Delhi – 110092, India |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.10.2011 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
05135780 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Parol Vijayakumari |
||||||||||||||||||||||||||||||||
|
Designation : |
Nominee Director |
||||||||||||||||||||||||||||||||
|
Address : |
28/1686 D, Varadha, St Joseph Church Road, Kadavanthra P.O, Ernakulam – 682020, Kerala, India |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.07.2017 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
07247504 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Anand Kumar Gupta |
||||||||||||||||||||||||||||||||
|
Designation : |
Nominee Director |
||||||||||||||||||||||||||||||||
|
Address : |
521, Abhinav Appts, B-12, Vasundhara Enclave, New Delhi – 110096, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.07.1960 |
||||||||||||||||||||||||||||||||
|
Qualification : |
Professional |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.09.2015 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
07269906 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Prasad Bhaskaran Nair |
||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||
|
Address : |
Mohanam Sankaramangalam Compound, Manakkara, Sasthamcotta – 690521, Kerala, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.07.1961 |
||||||||||||||||||||||||||||||||
|
Qualification : |
Professional |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.01.2016 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
07423849 |
||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Nellampurath Chellappan Nair Mohanan |
||||||||||||||||||||||||||||||||
|
Designation : |
Nominee Director |
||||||||||||||||||||||||||||||||
|
Address : |
Aramam, Broadway Road, Perumbavoor P.O., Ernakulam District, Perumbavoor – 683542, Kerala, India |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.09.2016 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
07648523 |
||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Prasanth Madhavan Pillai |
||||||||||||||||||||||||||||||||
|
Designation : |
Nominee Director |
||||||||||||||||||||||||||||||||
|
Address : |
Mithila, Maruthancode Irumba, Aruvikkara, Thiruvananthapuram – 695564, Kerala, India |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.07.2017 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
07825129 |
||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Ramachandran Karaingadan Kumaran |
||||||||||||||||||||||||||||||||
|
Designation : |
Nominee Director |
||||||||||||||||||||||||||||||||
|
Address : |
Karyangadan, Thalavanikkara, Ollur, Thalore, Thrissur – 680306, Kerala, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.03.1968 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.06.2017 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
08016619 |
||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ganapathyseshambal Venkitaraman Iyer |
|
Designation : |
Chief Financial Officer |
|
Address : |
B 12, Capital Horizon, Pushpagiri, Trichur – 680002, Kerala, India |
|
Date of Birth/Age : |
22.04.1959 |
|
Qualification : |
CA |
|
Date of Appointment : |
10.12.2014 |
|
PAN No.: |
AANPI1664B |
|
|
|
|
Name : |
Mr. Joffy George Chalakkal |
|
Designation : |
Company Secretary |
|
Address : |
Masters Villa, Chalakkal House, Velur P O, Trichur-680601, Kerala,
India |
|
Date of Birth/Age : |
31.05.1979 |
|
Qualification : |
CS and ICWAI |
|
Date of Appointment : |
11.07.2007 |
|
PAN No.: |
AFFPC8452A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
SHAREHOLDER’S
DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2016
|
Category |
Percentage |
|
Government - State Government |
54.56 |
|
Promoter - Bodies corporate |
44.60 |
|
Public – (Individual/ Hindu Undivided Family – Indian) |
0.79 |
|
Public - Non-resident Indian (NRI) |
0.02 |
|
Public - Bodies corporate |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of heavy Electrical equipment such as Transformers,
Turbines and other Electrical and Allied Machinery. (Registered activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
G Joseph and Associate Chartered Accountants |
|
Address : |
Muttathil Lane, Kadavanthra, Kochi |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAHFP2419D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
INR 10/- each |
INR 1250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42975400 |
Equity Shares |
INR 10/- each |
INR 429.754
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees 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 |
429.696 |
429.696 |
429.696 |
|
(b) Reserves and Surplus |
433.184 |
533.145 |
754.348 |
|
(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) |
862.880 |
962.841 |
1184.044 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
131.036 |
0.000 |
0.000 |
|
(b) Trade
payables |
41.009 |
129.170 |
108.761 |
|
(c) Other
current liabilities |
346.469 |
329.659 |
346.459 |
|
(d) Short-term
provisions |
29.525 |
22.724 |
3.765 |
|
Total Current
Liabilities (4) |
548.039 |
481.553 |
458.985 |
|
|
|
|
|
|
TOTAL |
1410.919 |
1444.394 |
1643.029 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
158.084 |
168.720 |
173.345 |
|
(ii)
Intangible Assets |
1.904 |
2.243 |
2.584 |
|
(iii) Tangible assets
capital work-in-progress |
8.795 |
8.771 |
5.283 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.070 |
0.070 |
0.070 |
|
(c) Deferred tax assets (net) |
155.952 |
108.020 |
5.019 |
|
(d)
Long-term loans and advances |
4.212 |
4.070 |
4.411 |
|
(e) Other
Non-current assets |
0.000 |
4.842 |
0.000 |
|
Total Non-Current
Assets |
329.017 |
296.736 |
190.712 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
255.658 |
412.127 |
521.073 |
|
(c) Trade
receivables |
750.384 |
581.460 |
639.153 |
|
(d) Cash and
bank balances |
35.523 |
68.903 |
220.364 |
|
(e)
Short-term loans and advances |
13.315 |
27.943 |
36.341 |
|
(f) Other
current assets |
27.022 |
57.225 |
35.386 |
|
Total
Current Assets |
1081.902 |
1147.658 |
1452.317 |
|
|
|
|
|
|
TOTAL |
1410.919 |
1444.394 |
1643.029 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1519.684 |
1300.224 |
1660.733 |
|
|
Other Income |
26.704 |
23.254 |
39.276 |
|
|
TOTAL |
1546.388 |
1323.478 |
1700.009 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
952.242 |
924.553 |
1071.448 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
37.170 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
108.592 |
106.842 |
0.000 |
|
|
Employee benefit expense |
441.888 |
480.695 |
456.125 |
|
|
Other expenses |
162.586 |
124.159 |
0.000 |
|
|
TOTAL |
1665.308 |
1636.249 |
1564.743 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(118.920) |
(312.771) |
135.266 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
16.582 |
6.077 |
6.631 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(135.502) |
(318.848) |
128.635 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.391 |
12.723 |
127.248 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(147.893) |
(331.571) |
1.387 |
|
|
|
|
|
|
|
Less |
TAX |
(47.932) |
(105.585) |
(6.784) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(99.961) |
(225.986) |
8.171 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(2.326) |
(5.26) |
0.19 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Net cash flows from (used in) operations |
(178.527) |
(157.828) |
93.107 |
|
Net cash flows from (used in) operating activities |
(163.838) |
(151.147) |
93.107 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average
Collection Days [Sundry Debtors
/ Income * 365] |
|
180.23 |
163.23 |
140.47 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
2.03 |
2.24 |
2.60 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
15.72 |
50.99 |
35.81 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
(0.47) |
(0.76) |
0.26 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
(0.70) |
(1.74) |
0.75 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio
[(Borrowing + Current Liabilities) / Total Assets] |
|
0.39 |
0.33 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.15 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.64 |
0.50 |
0.39 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.20 |
0.19 |
0.15 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
(7.17) |
(51.47) |
20.40 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
(6.58) |
(17.38) |
0.49 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
(7.08) |
(15.65) |
0.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
(11.58) |
(23.47) |
0.69 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio
[Current Assets / Current Liabilities] |
|
1.97 |
2.38 |
3.16 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.51 |
1.53 |
2.03 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.61 |
0.67 |
0.72 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.30 |
0.00 |
0.00 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.97 |
2.38 |
3.16 |
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 |
429.696 |
429.696 |
429.696 |
|
Reserves & Surplus |
754.348 |
533.145 |
433.184 |
|
Net
worth |
1184.044 |
962.841 |
862.880 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
131.036 |
|
Total
borrowings |
0.000 |
0.000 |
131.036 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.152 |
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 |
1660.733 |
1300.224 |
1519.684 |
|
|
|
(21.708) |
16.879 |
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 |
1660.733 |
1300.224 |
1519.684 |
|
Profit/ (Loss) |
8.171 |
(225.986) |
(99.961) |
|
|
0.49
% |
(17.38
%) |
(6.58
%) |
LOCAL AGENCY FURTHER INFORMATION
|
Case Status : Pending Status of : WRIT PETITION (CIVIL 37490 OF 2017) VINESHMON.K.P
Vs. THE TRANSFORMERS AND ELECTRICALS KERALA Pet’s Adv : SRI.M.BOSE Res’s Adv : SRIK.BALACHANDRAN
(MANGALATH) Last Date of Hearing : Friday, December 01, 2017 Next / Final Date of Hearing : -- Case Updated on : Wednesday, January 03, 2018 Category : OP-SERVICE STATE GOVT. UNDERTAKING |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
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 |
No |
|
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 |
PERFORMANCE OF
BUSINESS
During the year, the Sales Turnover net of excise duty of the Company increased by 16.88% from INR 1300.224 Million in 2014-15 to INR 1519.684 Million in 2015-16 and had decreased its operational loss to INR 147.893 Million as against INR 331.571 Million in 2014-15. The Company achieved a production of 3017 MVA.
The Company has net worth of INR 862.800 Million as on March 31, 2016. Company’s performance for the year 2015-16 has to be viewed in the context of pricing pressures in the market place, reduction in order booking as well as trend of slowdown in industry.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
131.036 |
0.000 |
|
|
|
|
|
Total |
131.036 |
0.000 |
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G30335145 |
100066819 |
THE SOUTH INDIAN BANK LIMITED |
01/12/2016 |
- |
- |
150000000.0 |
ANGAMALLY BRANCH, DOOR NO XXI/7A, BANK JUNCTIONALUVA ROAD, ANGAMALLYERNAKULAMKL683572IN |
|
2 |
B36710861 |
10346725 |
INDUSIND BANK LIMITED |
13/02/2012 |
- |
- |
250000000.0 |
GOWRINARAYAN , M.G ROADCOCHINKL682035IN |
|
3 |
Y10097598 |
90022948 |
KERALA INDUSTRIAL REVITALIXATION FUND BOARD |
26/11/2003 |
- |
- |
150000000.0 |
5 FLOOR CMD BUILDINGC.V. RAMAN PILLAI ROAD ; THYCAUD POSTTRIVANDRUMKL695014IN |
|
4 |
A80805427 |
90022584 |
State Bank of Travancore |
30/08/2000 |
19/02/2010 |
- |
1321000000.0 |
Angamally BranchAngamallyKL683572IN |
|
5 |
Y10096648 |
90021998 |
THE FEDERAL BANK LTD. |
27/03/1993 |
- |
- |
9600000.0 |
ALUVAALUVAKLIN |
|
6 |
Y10096632 |
90021982 |
INDUSTRIAL DEV. BANK OF INDIA |
14/12/1992 |
17/04/1985 |
- |
20000000.0 |
NARIMAN BHAVAN227 ; VINAY K . SHAN MARG ; NARIMAN POINTBOMBAYMH400021IN |
|
7 |
Y10096611 |
90021961 |
STATE BANK OF TRAVANCORE |
25/05/1992 |
- |
- |
30000000.0 |
ANGAMALLYANGAMALLYKLIN |
|
8 |
Y10096597 |
90021947 |
STATE BANK OF TRAVANCORE |
19/02/1992 |
- |
- |
20000000.0 |
ANGAMALLYANGAMALLYKLIN |
|
9 |
Y10096575 |
90021925 |
THE FEDERAL BANK LTD. |
09/09/1991 |
- |
- |
320000000.0 |
ALUVAALUVAKLIN |
|
10 |
Y10096247 |
90021597 |
STATE BANK OF INDIA |
30/07/1983 |
- |
- |
3000000.0 |
PUBLIC BODIES LOAN SECTIONBOMBAY MAIN BRANCH; BOMBAY SAMACHAR MARG ; P.B. 13BOMBAYMHIN |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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 90.40 |
|
Euro |
1 |
INR 79.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.