|
|
|
MIRA INFORM REPORT
|
Report No. : |
482744 |
|
Report Date : |
02.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ANANTCO ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
194, Arvind Chambers, Gauri Studio Compound, Western Express Highway,
Andheri (East), Mumbai – 400069, Maharashtra |
|
Tel No.: |
91-22-67685000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
04.01.2007 |
|
|
|
|
Com. Reg. No.: |
11-166736 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52311MH2007PTC166736 |
|
|
|
|
IEC No.: |
0307003922 |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
GST |
27AAGCA1893E1ZP |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCA1893E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Pharmaceutical, Raw Materials, Water
Treatment Chemicals, Flame Retardant Chemicals and Corrosion Paint Besides
the company also Provides Agency Services to Foreign Suppliers and also
Distillation of Chemicals. [Registered Activity and also Confirmed by management] |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2007 and it is Manufacturer and
Exporter of Pharmaceutical, Raw Materials, water Treatment Chemicals, flame
Retardant Chemicals and Corrosion Paint Besides the company and also Provides
Agency Services to Foreign Suppliers and also Distillation of Chemicals. As per financial of March 2017, the company has registered decent
growth in its revenue and reported average profit margin. Rating takes into consideration the company’s moderate track record of
business operations along with small capital base and unfavourable gap
between its trade payables to its trade receivables. Rating also takes into account the company’s high debt balance sheet
which may acts as a treat to financial position. Payments are reported to be slow and delayed. In view of aforesaid, the company can be considered for business
dealings at fully safe and secured 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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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
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 02.01.2018.
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
|
Name : |
Mr. H Venkatesh Suvarna |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-22-67685000 |
|
Date : |
27.12.2017 |
LOCATIONS
|
Registered Office : |
194, Arvind Chambers, Gauri Studio Compound, Western Express Highway,
Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
91-22-67685000/ 67685007 |
|
Mobile No.: |
91-9320121156 (Mr. Mahesh) |
|
Fax No.: |
91-22-26830537/ 26821425 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No.159, 2nd Phase, GIDC, Vapi, Taluka: Pardi, District:
Valsad – 396195, Gujarat, India |
|
|
|
|
Warehouse : |
Ambica Compound, R.C.C. Building, 1st
Floor, Falling Under Survey No. 178/1/1 and 180, Badamwala Compound 192/ 194,
House No. 839B, Cabin No. 3, Purna Village, Thane-Bhiwandi Road, Bhiwandi –
421302, Maharashtra, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Anant Rajendralal Thakore |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
14/D, Laxmi Estate, Old Nagardas Road, Andheri (East), Mumbai – 400
069, Maharashtra, India |
||||||||||||
|
Date of Birth/Age : |
20.01.1935 |
||||||||||||
|
Date of Appointment : |
01.06.2015 |
||||||||||||
|
DIN No.: |
00095066 |
||||||||||||
|
Other Directorship :
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Anil Rajendralal Thakore |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
71, Sanskar, J.V.P.D Scheme, Road No.8, Vile Parle (West), Mumbai –
400 049, Maharashtra, India |
||||||||||||
|
Date of Birth/Age : |
03.12.1930 |
||||||||||||
|
Date of Appointment : |
01.06.2015 |
||||||||||||
|
DIN No.: |
00840894 |
||||||||||||
|
Other Directorship :
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Mrs. Neha Anant Thakore |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
14/D, Laxmi Estate, Old Nagardas Road, Andheri (East), Mumbai – 400
069, Maharashtra, India |
||||||||||||
|
Date of Birth/Age : |
17.11.1972 |
||||||||||||
|
Date of Appointment : |
04.01.2007 |
||||||||||||
|
DIN No.: |
00893957 |
||||||||||||
|
Other Directorship :
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Darshan Anil Thakore |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
71, Sanskar, J.V.P.D Scheme, Road No.8, Vile Parle (West), Mumbai –
400 049, Maharashtra, India |
||||||||||||
|
Date of Birth/Age : |
03.12.1965 |
||||||||||||
|
Date of Appointment : |
04.01.2007 |
||||||||||||
|
DIN No.: |
00840871 |
||||||||||||
|
Other Directorship :
|
|||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. H Venkatesh Suvarna |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
% age holding |
|
Anil Rajendralal Thakore |
25000 |
25.00 |
|
Anant Rajendralal Thakore |
25000 |
25.00 |
|
Darshan Anil Thakore |
25000 |
25.00 |
|
Neha Anant Thakore |
25000 |
25.00 |
|
|
|
|
|
Total |
100000 |
100.00 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pharmaceutical, Raw Materials, Water
Treatment Chemicals, Flame Retardant Chemicals and Corrosion Paint Besides the
company also Provides Agency Services to Foreign Suppliers and also
Distillation of Chemicals. [Registered Activity and also Confirmed by management] |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Healthcare Products and Solvents |
||||
|
Countries : |
·
Korea ·
Pakistan ·
Taiwan ·
Singapore ·
USA ·
Vietnam |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
·
Korea ·
China |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Advance Payment, Cheque and Credit (30 Days) |
||||
|
|
|
||||
|
Purchasing : |
Advance Payment, Cheque and Credit (30 Days) |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
End Users and OEM’s · Venus Remedies Limited – Punjab · Cadila Healthcare Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
50 [Approximately] |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· The Kapol Co-Operative Bank Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Agarwal Singhal and Associates Chartered Accountants |
|
Address : |
B-102, Pushp Vinod-1, S. V. Road, Borivali West, Mumbai - 400092,
Maharashtra |
|
PAN No.: |
AANFA4250D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Entities over which key management personnel and their relatives
exercise significant influence : |
· Avik Pharmaceuticals Limited · Rifa Pharma |
CAPITAL STRUCTURE
AFTER 29.09.2017
Authorised Capital : INR 20.500 Million
Issued, Subscribed & Paid-up Capital : INR 1.000
Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1750000 |
Equity Shares |
INR 10/- each |
INR 17.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 10/- each |
INR 1.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
1.000 |
1.000 |
1.000 |
|
(b) Reserves & Surplus |
2.839 |
2.155 |
4.017 |
|
(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) |
3.839 |
3.155 |
5.017 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
100.740 |
102.481 |
33.752 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
6.551 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
4.274 |
3.400 |
3.056 |
|
Total
Non-current Liabilities (3) |
105.014 |
105.881 |
43.359 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
22.140 |
18.020 |
28.820 |
|
(b)
Trade payables |
35.878 |
14.664 |
16.294 |
|
(c)
Other current liabilities |
21.743 |
27.742 |
33.390 |
|
(d)
Short-term provisions |
1.243 |
1.388 |
1.284 |
|
Total
Current Liabilities (4) |
81.004 |
61.814 |
79.788 |
|
|
|
|
|
|
TOTAL |
189.857 |
170.850 |
128.164 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
8.068 |
7.802 |
7.672 |
|
(ii)
Intangible Assets |
0.363 |
4.065 |
7.752 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.366 |
0.659 |
0.659 |
|
(c) Deferred tax assets
(net) |
5.140 |
3.932 |
3.932 |
|
(d) Long-term Loan
and Advances |
12.758 |
17.864 |
8.149 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
27.695 |
34.322 |
28.164 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
14.178 |
17.881 |
12.181 |
|
(c)
Trade receivables |
101.920 |
54.793 |
60.176 |
|
(d)
Cash and cash equivalents |
34.157 |
37.593 |
17.155 |
|
(e)
Short-term loans and advances |
9.797 |
24.914 |
9.853 |
|
(f)
Other current assets |
2.110 |
1.347 |
0.635 |
|
Total
Current Assets |
162.162 |
136.528 |
100.000 |
|
|
|
|
|
|
TOTAL |
189.857 |
170.850 |
128.164 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
251.981 |
199.586 |
191.769 |
|
|
|
Other Income |
4.509 |
10.168 |
3.291 |
|
|
|
TOTAL |
256.490 |
209.754 |
195.060 |
|
|
|
(Increase in
order) |
|
||
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.680 |
0.192 |
|
|
|
Purchases of Stock-in-Trade |
154.941 |
124.516 |
44.714 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
3.703 |
(5.692) |
43.925 |
|
|
|
Employees benefits expense |
29.707 |
28.744 |
28.790 |
|
|
|
Manufacturing and operating
cost |
2.578 |
3.248 |
4.639 |
|
|
|
Prior period expenses/(income) |
0.014 |
0.000 |
0.219 |
|
|
|
Other expenses |
33.264 |
42.465 |
40.444 |
|
|
|
TOTAL |
224.207 |
193.961 |
162.923 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
32.283 |
15.793 |
32.137 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
15.377 |
11.571 |
9.551 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
16.906 |
4.222 |
22.586 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.074 |
6.084 |
11.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
10.832 |
(1.862) |
10.976 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.800 |
0.000 |
7.405 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
7.032 |
(1.862) |
3.571 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
11.496 |
4.236 |
7.411 |
|
|
|
Indenting commission |
50.792 |
53.850 |
81.456 |
|
|
TOTAL EARNINGS |
62.288 |
58.086 |
88.867 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded goods |
98.059 |
87.130 |
24.627 |
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (INR) |
70.32 |
(18.62) |
35.71 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
5.562 |
5.300 |
4.517 |
|
|
|
|
|
|
Cash generated from operations |
21.647 |
(24.565) |
38.889 |
|
|
|
|
|
|
Net Cash flow from Operating Activities |
10.495 |
(24.565) |
30.352 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
147.63 |
100.20 |
114.53 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.47 |
3.64 |
3.19 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
84.52 |
42.75 |
132.44 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.28 |
0.88 |
2.64 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
3.83 |
1.33 |
2.08 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.99 |
0.99 |
0.92 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
33.46 |
39.87 |
13.37 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
21.10 |
19.59 |
15.90 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.20 |
3.76 |
3.07 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.10 |
1.36 |
3.36 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.79 |
(0.93) |
1.86 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.70 |
(1.09) |
2.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
183.17 |
(59.02) |
71.18 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.00 |
2.21 |
1.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.83 |
1.92 |
1.10 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.02 |
0.02 |
0.04 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
128.44 |
125.80 |
67.09 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.00 |
2.21 |
1.25 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR In
Million |
|
Share Capital |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
4.017 |
2.155 |
2.839 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5.017 |
3.155 |
3.839 |
|
|
|
|
|
|
long-term borrowings |
33.752 |
102.481 |
100.740 |
|
Short term borrowings |
28.820 |
18.020 |
22.140 |
|
Current Maturities of Long
term debt |
4.517 |
5.300 |
5.562 |
|
Total
borrowings |
67.089 |
125.801 |
128.442 |
|
Debt/Equity
ratio |
13.372 |
39.874 |
33.457 |
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 |
191.769 |
199.586 |
251.981 |
|
|
|
4.076 |
26.252 |
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 |
191.769 |
199.586 |
251.981 |
|
Profit |
3.571 |
-1.862 |
7.032 |
|
|
1.86% |
-0.93% |
2.79% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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% |
Yes |
|
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C78499332 |
10382453 |
THE KAPOL
CO-OPERATIVE BANK LTD. |
24/06/2009 |
25/08/2012 |
20/01/2016 |
62500000.0 |
107/108 SHYAMKAMAL
BUILDINGBN AGARWAL MARKET, VILEPARLE EASTMUMBAIMH400056IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Directors and family members |
10.372 |
10.100 |
|
Co-owners |
16.628 |
14.907 |
|
Banks and financial institutions |
2.547 |
3.918 |
|
Others |
5.225 |
5.251 |
|
Other current liabilities |
(5.562) |
(5.300) |
|
Total |
29.210 |
28.876 |
COMPANY BACKGROUND
The company was incorporated as a private limited company on 04th
January 2007 and is having its headquarters in Mumbai, Maharashtra. The Company
is engaged in the business of manufacturing trading in pharmaceutical raw
materials, water treatment chemicals, flame retardant chemicals and corrosion
paint. Besides the company also provides agency services to foreign suppliers.
The company has its arms located in Mumbai, Vapi and Bhiwandi.
STATE OF COMPANY’S
AFFAIRS
The company has achieved revenue of INR 256.500 million during the
current year as against INR 209.800 million in the previous year. Net profit
after tax stood at 7.031 million as compared to net loss of INR (1862) million
in the previous year.
There has been no material charges and commitments, affecting the
financial position of the company which have occurred between the end of the
financial year of the company to which the financial statements relate and the
date of this Board’s Report.
The company at regular intervals monitors the financial, operational,
legal risk to the company through procedure like audit, inspections etc. There
is no risk which in the opinion of the board may threaten the existence of the
company.
During the year, there has been no change in the nature of the business
of the company. Further, there were no significant and material order passed by
the regulators or courts or tribunals impacting the going concern status and
company’s operations in future. The internal financial controls with reference
to the financial statements are adequate.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
InvIncomeoke tax matters |
|
|
|
Relating to assessment year 2012-13 |
0.115 |
0.115 |
FIXED ASSETS:
Tangible Assets
·
Buildings
·
Improvement to leasehold building
·
Plant and Equipment’s
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment’s
·
Computers
·
Electrical Installation and Fittings
Intangible Assets
·
Goodwill
·
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 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 63.67 |
|
UK Pound |
1 |
INR 85.90 |
|
Euro |
1 |
INR 76.41 |
INFORMATION
DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
ARC |
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 |
YES |
|
--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.