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MIRA INFORM REPORT
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Report No. : |
484524 |
|
Report Date : |
05.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SAGAR CEMENTS LIMITED |
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|
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|
Registered
Office : |
Plot No.111, Road No.10, Jubilee Hills, Hyderabad – 500033, Telangana |
|
Tel. No.: |
91-40-23351571 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
15.01.1981 |
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Com. Reg. No.: |
36-002887 |
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Capital
Investment / Paid-up Capital : |
INR 204.000 Million |
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CIN No.: [Company Identification
No.] |
L26942TG1981PLC002887 |
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IEC No.: |
Not Divulged |
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GST No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCS8680H |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Seller of Cement. [Registered Activity] |
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|
|
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No. of Employees
: |
479 [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+ |
Low Risk |
Business dealings permissible with low
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 1981. It is a manufacturer and seller of cement and clinker. As per the financial of 2017, the company has reported a decline in its revenue as compared to the previous year but has managed to maintain an average net profit margin of 2.01%. The company possesses strong financial position marked by sound net worth base along with low debt balance sheet profile and acceptable liquidity position. Rating takes into consideration the equity infused by its promoters. The company has its share price trading at around INR 1104.50 on BSE as on January 04, 2017 as against the Face Value (FV) of INR 10. Business is active. Payments are reported to be regular. In view of healthy financial base of the company, it can be considered good for normal business dealings at usual trade terms and condition. |
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
|
Rating Agency Name |
CARE |
|
Rating |
Long Term = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
12.10.2016 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
12.10.2016 |
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 05.01.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-40-23351571]
LOCATIONS
|
Registered/ Administrative Office : |
Plot No.111, Road No.10, Jubilee Hills, Hyderabad – 500033, Telangana, India |
|
Tel. No.: |
91-40-23351571/ 23356572 |
|
Fax No.: |
91-40-23356573 |
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E-Mail : |
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|
Website : |
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|
|
|
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Factory 1: |
Mattampally, Via Huzurnagar, Nalgonda District – 508204, Telangana,
India |
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Tel. No.: |
91-8683-247039 |
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|
|
|
Factory 2 : |
Pedaveedu, Via Huzurnagar, Nalgonda District – 508204, Telangana,
India |
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Tel. No.: |
91-8683-216533/ 247333 |
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|
|
|
Factory 3 : |
Bayyavaram Village, Kasimkota Mandal, Visakhapatnam
District-531031, Andhra Pradesh, India |
|
Tel. No.: |
91-8924-244098 / 244550 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Swaminatha Reddy Onteddu |
|
Designation : |
Director |
|
Address : |
Plot No 813,Road No 41, Jubilee Hills, Hyderabad-500033, Andhra Pradesh, India |
|
Date of Appointment : |
05.09.1983 |
|
DIN No.: |
00006391 |
|
|
|
|
Name : |
Mr. Kolappa Thanu Pillai |
|
Designation : |
Director |
|
Address : |
8-2-616, 2nd Floor, Akashganga Apts, Near Spring Field School, Road No,11, B' Hills, Hyderabad-500034, Telangana, India |
|
Date of Appointment : |
30.01.2012 |
|
DIN No.: |
00025312 |
|
|
|
|
Name : |
Mr. Veera Sammidi Reddy |
|
Designation : |
Managing Director |
|
Address : |
Plot No.205, Road No.14, Jubilee Hills, Hyderabad-500033, Andhra Pradesh, India |
|
Date of Appointment : |
13.07.1991 |
|
DIN No.: |
00123833 |
|
|
|
|
Name : |
Mr. Anand Sammidi Reddy |
|
Designation : |
Wholetime Director |
|
Address : |
Plot No.205, Road No.14, Jubilee Hills, Hyderabad-500033, Andhra Pradesh, India |
|
Date of Appointment : |
21.11.2007 |
|
DIN No.: |
00123870 |
|
|
|
|
Name : |
Mr. Sreekanth Reddy Sammidi |
|
Designation : |
Wholetime Director |
|
Address : |
Plot No.205, Road No.14, Jubilee Hills, Hyderabad-500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
27.08.1971 |
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Qualification : |
B.E. (I & P) and PG Diploma in cement technology |
|
Experience in
specific functional areas : |
Cement Technologist Has been on the Board since 2003 as a Whole-time Director |
|
Date of Appointment : |
26.06.2008 |
|
DIN No.: |
00123889 |
|
|
|
|
Name : |
Mr. Nagesh Reddy Tadasina |
|
Designation : |
Nominee Director |
|
Address : |
8-1-15/5, Padma Nagar Colony Karmanghat, Rangareddi-500079, Telangana, India |
|
Date of Appointment : |
20.04.2017 |
|
DIN No.: |
07734358 |
|
|
|
|
Name : |
Mr. Valliyur Hariharan Ramakrishnan |
|
Designation : |
Director |
|
Address : |
C2 402 White House, 15th Cross, 6th Main R T Nagar, Bangalore-560032, Karnataka, India |
|
Date of Appointment : |
23.09.2015 |
|
DIN No.: |
00143948 |
|
|
|
|
Name : |
Mrs. Rachana Sammidi |
|
Designation : |
Director |
|
Address : |
Plot No.205, Road No.14, Jubilee Hills, Hyderabad-500034, Andhra Pradesh, India |
|
Date of Birth/Age : |
04.08.1975 |
|
Qualification : |
B.Sc. |
|
Experience in
specific functional areas : |
She is a non-executive director on the Board fee for attending the meetings of the Board and its committees. Currently she is a Executive Director in Panchavati Polyfibres Limited, where she is looking after its day to day operations along with its Managing Director. |
|
Date of Appointment : |
18.03.2015 |
|
DIN No.: |
01590516 |
|
|
|
|
Name : |
Mr. John Eric Fernand Pascal Cesar Bertrand |
|
Designation : |
Director |
|
Address : |
Avenue De La Faisanderie 43 Woluwe Saint Pierre Belgium 1150 Be |
|
Date of Appointment : |
17.10.2012 |
|
DIN No.: |
06391176 |
KEY EXECUTIVES
|
Name : |
Mr. Kolluru Prasad |
|
Designation : |
Chief Finance Officer |
|
Address : |
H. No. 4-6-90/17/2 Plot No.268, Tejaswinagar, Attapur, Hyderabad-500048, Telangana, India |
|
Date of Appointment : |
13.08.2014 |
|
PAN No.: |
AFQPK6401G |
|
|
|
|
Name : |
Mr. Rangaswamy Soundararajan |
|
Designation : |
Company Secretary |
|
Address : |
305, Sri Srinivasa Apartments, Deendayal Nagar Neredmet Secunderabad 500056, Andhra Pradesh, India |
|
Date of Appointment : |
01.07.2004 |
|
PAN No.: |
AFVPS4638E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter &
Promoter Group |
10206651 |
50.03 |
|
|
(B) Public |
10193349 |
49.97 |
|
|
|
|
|
|
|
Grand Total |
20400000 |
100.00 |
Statement showing shareholding pattern of the Promoter and Promoter
Group
|
Category
of shareholder |
Total
nos. shares held |
Shareholding
as a % of total no. of shares (calculated as per SCRR, 1957)As a % of
(A+B+C2) |
|
|
A1) Indian |
0.00 |
|
|
|
Individuals/Hindu
undivided Family |
90,01,866 |
44.13 |
|
|
W MALATHI |
7,55,400 |
3.70 |
|
|
N MADHAVI |
5,33,800 |
2.62 |
|
|
P V NARASIMHA REDDY |
2,000 |
0.01 |
|
|
ANAND REDDY SAMMIDI |
13,03,524 |
6.39 |
|
|
S.VANAJATHA |
9,90,769 |
4.86 |
|
|
SREEKANTH REDDY SAMMIDI |
12,38,753 |
6.07 |
|
|
S.ARUNA |
13,69,545 |
6.71 |
|
|
S.VEERA REDDY |
16,43,795 |
8.06 |
|
|
RACHANA SAMMIDI |
11,64,280 |
5.71 |
|
|
Any Other
(specify) |
12,04,785 |
5.91 |
|
|
ANDHRA PRADESH INDUSTRIAL DEVELOPMENT
CORPORATION |
3,13,285 |
1.54 |
|
|
SAGAR PRIYA HOUSING AND INDUSTRIAL
ENTERPRISES LIMITED |
8,60,000 |
4.22 |
|
|
PANCHAVATI POLYFIBRES LIMITED |
31,500 |
0.15 |
|
|
Sub Total A1 |
1,02,06,651 |
50.03 |
|
|
A2) Foreign |
0.00 |
|
|
|
A=A1+A2 |
1,02,06,651 |
50.03 |
|
Statement showing shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR,
1957 As a % of (A+B+C2) |
|
|
|||
|
|||
|
|||
|
B1) Institutions |
0.00 |
|
|
|
Mutual Funds/ |
28,58,515 |
14.01 |
|
|
ICICI PRUDENTIAL BUSINESS CYCLE FUND
SERIES 1 |
4,73,443 |
2.32 |
|
|
HDFC TRUSTEE COMPANY LTD - HDFC PRUDENCE
FUND |
11,65,000 |
5.71 |
|
|
SBI MAGNUM COMMA FUND |
6,94,483 |
3.40 |
|
|
IDFC CLASSIC EQUITY FUND |
4,25,293 |
2.08 |
|
|
Foreign
Portfolio Investors |
7,14,063 |
3.50 |
|
|
ICG Q LIMITED |
3,30,000 |
1.62 |
|
|
KITARA INDIA MICRO CAP GROWTH FUND |
3,75,000 |
1.84 |
|
|
Financial
Institutions/ Banks |
4,830 |
0.02 |
|
|
Insurance
Companies |
3,20,741 |
1.57 |
|
|
BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD |
3,20,741 |
1.57 |
|
|
Sub Total B1 |
38,98,149 |
19.11 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0.00 |
|
|
|
B3)
Non-Institutions |
0.00 |
|
|
|
Individual share
capital upto INR 0.200 Million |
12,95,658 |
6.35 |
|
|
Individual share
capital in excess of INR 0.200 Million |
2,29,120 |
1.12 |
|
|
NBFCs registered
with RBI |
325 |
0.00 |
|
|
Any Other
(specify) |
47,70,097 |
23.38 |
|
|
NRI |
74,267 |
0.36 |
|
|
Clearing Members |
3,509 |
0.02 |
|
|
NRI – Non- Repat |
7,689 |
0.04 |
|
|
TWINVEST FINANCIAL SERVICES LTD |
8,13,327 |
3.99 |
|
|
AVH RESOURCES INDIA PVT.LTD |
35,83,704 |
17.57 |
|
|
Sub Total B3 |
62,95,200 |
30.86 |
|
|
B=B1+B2+B3 |
1,01,93,349 |
49.97 |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Cement. [Registered Activity] |
|
|
|
|
Products/ Services : |
Cement |
|
|
|
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Brand Names : |
Not Divulged |
|
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|
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Agencies Held : |
Not Divulged |
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|
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Exports : |
Not Divulged |
|
|
|
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Imports : |
Not Divulged |
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|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
479 [Approximately] |
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Bankers : |
· State Bank of Hyderabad · IDBI Bank Limited |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
1-8-384
and 385, 3rd Floor, Gowra Grand S.P. Road, Begumpet, Secunderabad-500003, Telangana, India |
|
Tel. No.: |
91-40-66032600 |
|
Fax No.: |
91-40-66032714 |
|
|
|
|
Cost Auditors : |
|
|
Name : |
Narasimha Murthy and Company Cost Accountants |
|
Address : |
104, Pavani Estate, Y. V. Rao Mansion, Himayathnagar, Hyderabad – 500029,
Telangana, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company
: |
Sagar Cements (R) Limited |
|
|
|
|
Enterprise where KMP along with their relatives exercise significant influence
: |
· Panchavati Polyfibres Limited · Sagar Power Limited · RV Consulting Services Private Limited · Sagarsoft (India) Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22000000 |
Equity Shares |
INR 10/- each |
INR 220.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20400000 |
Equity Shares |
INR 10/- each |
INR 204.000
Million |
|
|
|
|
|
RECONCILIATION OF
EQUITY SHARES AND AMOUNT OUTSTANDING AT THE BEGINNING AND AT THE END OF THE
YEAR:
|
Particulars |
As at March 31, 2017 |
|
|
|
No of shares |
INR in million |
|
Opening Balance |
17388014 |
173.900 |
|
Shares issued during the year |
3011986 |
30.100 |
|
Closing Balance |
20400000 |
204.000 |
RIGHTS, PREFERENCES
AND RESTRICTIONS ATTACHED TO THE EQUITY SHARES:
The Company has only one class of equity shares having a par
value of ` 10 per share. Each holder of Equity shares is entitled to one vote
per share. The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting, except in
case of interim dividend. In the event of liquidation of the Company, the
holders of Equity shares will be entitled to receive remaining assets of the
Company, after distribution of all preferential amounts. The distribution will
be in proportion to the number of Equity shares held by the shareholders.
DETAILS OF
SHAREHOLDERS HOLDING MORE THAN 5% SHARES IN THE COMPANY
|
Particulars |
As at March 31, 2017 |
|
|
|
No of shares |
% Holding |
|
S. Veera Reddy |
1643795 |
8.06% |
|
S. Aruna |
1369545 |
6.71% |
|
S. Rachana |
1164280 |
5.71% |
|
S. Anand Reddy |
1304776 |
6.40% |
|
S. Sreekanth Reddy |
1238753 |
6.07% |
|
S. Vanajatha |
990769 |
4.86% |
|
AVH Resources India Private Limited |
3583704 |
17.57% |
(d) (i) During the year, the Company made a preferential allotment of 611,986 equity shares of INR 10 each at a premium of INR 790 per share aggregating INR 4,896 (including securities premium of INR 4,835) to the promoter and non promoter group.
(ii) During the year, the Company raised a sum of INR 17,280 (including securities premium of INR 17,040) by allotment of 2,400,000 equity shares of INR 10 each at a premium of INR 710 per share through Qualified Institutions Placement.
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 |
204.000 |
173.900 |
173.900 |
|
(b) Reserves & Surplus |
7640.700 |
5365.800 |
5099.200 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
|
|
Total
Shareholders’ Funds (1) + (2) |
7844.700 |
5539.700 |
5273.100 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1482.900 |
1056.500 |
1211.300 |
|
(b) Deferred tax liabilities (Net) |
300.300 |
228.900 |
230.200 |
|
(c)
Other long term liabilities |
445.800 |
439.200 |
354.900 |
|
(d)
long-term provisions |
19.900 |
254.300 |
260.900 |
|
Total
Non-current Liabilities (3) |
2248.900 |
1978.900 |
2057.300 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
580.000 |
691.300 |
880.300 |
|
(b)
Trade payables |
842.000 |
908.500 |
749.600 |
|
(c)
Other current liabilities |
638.200 |
646.600 |
775.200 |
|
(d)
Short-term provisions |
15.600 |
13.900 |
9.200 |
|
Total
Current Liabilities (4) |
2075.800 |
2260.300 |
2414.300 |
|
|
|
|
|
|
TOTAL |
12169.400 |
9778.900 |
9744.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4945.100 |
4418.500 |
3349.900 |
|
(ii)
Intangible Assets |
516.500 |
129.800 |
1121.900 |
|
(iii)
Capital work-in-progress |
1.600 |
1.500 |
1.900 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
2578.700 |
824.600 |
1.500 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
1720.000 |
0.000 |
|
(e)
Other Non-current assets |
405.500 |
527.800 |
499.700 |
|
Total
Non-Current Assets |
8447.400 |
7622.200 |
4974.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
729.600 |
657.000 |
623.100 |
|
(c)
Trade receivables |
463.400 |
460.100 |
580.600 |
|
(d)
Cash and cash equivalents |
1698.500 |
36.700 |
2192.800 |
|
(e)
Short-term loans and advances |
0.000 |
498.200 |
0.000 |
|
(f)
Other current assets |
830.500 |
504.700 |
1373.300 |
|
Total
Current Assets |
3722.000 |
2156.700 |
4769.800 |
|
|
|
|
|
|
TOTAL |
12169.400 |
9778.900 |
9744.700 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
6200.000 |
7081.100 |
5481.336 |
|
|
|
Other Income |
231.200 |
282.800 |
3629.622 |
|
|
|
TOTAL |
6431.200 |
7363.900 |
9110.958 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
721.400 |
663.800 |
677.856 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
648.400 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
29.700 |
17.700 |
(106.085) |
|
|
|
Employees benefits expense |
363.500 |
382.000 |
334.463 |
|
|
|
Other expenses |
3649.300 |
3551.700 |
1360.345 |
|
|
|
excise Duty |
842.400 |
863.500 |
0.000 |
|
|
|
Manufacturing expenses |
0.000 |
0.000 |
2631.687 |
|
|
|
Captive consumption of cement |
0.000 |
0.000 |
(13.865) |
|
|
|
TOTAL |
5606.300 |
6127.100 |
4884.401 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
824.900 |
1236.800 |
4226.557 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
304.500 |
291.500 |
230.823 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
520.400 |
945.300 |
3995.734 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
280.000 |
234.600 |
215.047 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
240.400 |
710.700 |
3780.687 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
115.500 |
218.900 |
814.170 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
124.900 |
491.800 |
2966.517 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Coal |
NA |
303.197 |
270.369 |
|
|
|
Capital items and others |
NA |
2.610 |
2.812 |
|
|
TOTAL IMPORTS |
NA |
305.807 |
273.181 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
6.98 |
28.28 |
170.61 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term Borrowings |
264.700 |
181.400 |
351.900 |
|
|
|
|
|
|
Cash generated from operating activities |
412.800 |
1558.000 |
397.824 |
|
|
|
|
|
|
Net Cash generated from operating activities |
357.900 |
1323.700 |
401.569 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
27.28 |
23.72 |
38.66 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
13.38 |
15.39 |
9.44 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
426.02 |
252.71 |
403.63 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.13 |
1.88 |
6.78 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.15 |
0.27 |
0.94 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.31 |
0.36 |
0.41 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.30 |
0.35 |
0.46 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.26 |
0.41 |
0.46 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.70 |
0.82 |
0.85 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.71 |
4.24 |
18.31 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.01 |
6.95 |
54.12 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.03 |
5.03 |
30.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
1.59 |
8.88 |
56.26 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.79 |
0.95 |
1.98 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.44 |
0.66 |
1.72 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.64 |
0.57 |
0.54 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
11.41 |
11.09 |
14.05 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.79 |
0.95 |
1.98 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
|
|
|
Market Value |
INR 1104.50/- |
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 |
173.900 |
173.900 |
204.000 |
|
Reserves & Surplus |
5099.200 |
5365.800 |
7640.700 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5273.100 |
5539.700 |
7844.700 |
|
|
|
|
|
|
long-term borrowings |
1211.300 |
1056.500 |
1482.900 |
|
Short term borrowings |
880.300 |
691.300 |
580.000 |
|
Current Maturities of Long
term debt |
351.900 |
181.400 |
264.700 |
|
Total
borrowings |
2443.500 |
1929.200 |
2327.600 |
|
Debt/Equity
ratio |
0.463 |
0.348 |
0.297 |
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 |
5481.336 |
7081.100 |
6200.000 |
|
|
|
29.186 |
(12.443) |
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 |
5481.336 |
7081.100 |
6200.000 |
|
Profit/ (Loss) |
2966.517 |
491.800 |
124.900 |
|
|
54.12% |
6.95% |
2.01% |
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 |
No |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES:
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G67399584 |
100052838 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
08/08/2016 |
10/11/2017 |
- |
1440000000.0 |
ASIAN BUILDING, GROUND
FLOORNO.,17M KAMANI MARG, BALLARD ESTATEMUMBAI |
|
2 |
G09391509 |
100044275 |
STATE BANK OF INDIA |
05/08/2016 |
- |
- |
400000000.0 |
INDUSTRIAL FINANCE
BRANCH, 1ST FLOORNAVABHARAT CHAMBERS, RAJBHAVAN ROAD, SOMAJIGUDAHYDERABADTG500082IN |
|
3 |
G07138084 |
100016337 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
04/03/2016 |
05/07/2016 |
- |
2090000000.0 |
ASIAN BUILDING, GROUND
FLOOR,17, R KAMANI MARG, BALLARD ESTATEMUMBAIMH400001IN |
|
4 |
C80353782 |
10606899 |
ICICI BANK LIMITED |
10/12/2015 |
11/02/2016 |
- |
650000000.0 |
LANDMARKRACE COURCE
CIRCLEALKAPURIBARODAGJ390015IN |
|
5 |
B24653875 |
90126147 |
STATE BANK OF HYDERABAD
(LEAD BANK) |
29/09/1999 |
09/11/2011 |
- |
1020000000.0 |
PUNJAGUTTA BRANCHH.NO.6-3-542/2,
`ROSE MADE', PUNJAGUTTAHYDERABADAP500082IN |
|
6 |
Y10222329 |
90129524 |
DCL FINANCE LTD. |
22/01/1997 |
- |
- |
8037425.0 |
DECCAN CHAMBERS
SOMAJIGUDAHYDERABADAPIN |
|
7 |
Y10223622 |
90130817 |
DCL FINANCE LTD. |
22/01/1997 |
- |
- |
8037425.0 |
DECCAN CHAMBERS
SOMAJIGUDAHYDERABADAPIN |
|
8 |
Y10218736 |
90125931 |
PRIYADARSHINI LEASING AND
FINANCE LTD. |
17/09/1996 |
- |
- |
1996000.0 |
8-3-961/B SRINAGAR
COLONYHYDERABADAP500873IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred payment liability |
0.000 |
18.900 |
|
|
|
|
|
Total |
0.000 |
18.900 |
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF
YEAR ENDED 30.09.2017
(INR IN MILLION)
|
Particulars |
Quarter Ended 30.09.2017 |
Quarter Ended 30.06.2017 |
Half Year Ended 30.09.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
Income from operations |
|
|
|
|
Net Sales (Net or Excise Duty) |
1711.200 |
2150.100 |
3861.300 |
|
Other operating Income |
47.300 |
49.700 |
97.000 |
|
Total Income from operations (Net) |
1758.500 |
2199.800 |
3958.300 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of Materials Consumed |
262.300 |
241.400 |
503.700 |
|
Purchases of Stock-in-Trade |
71.700 |
32.500 |
104.200 |
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(201.300) |
(11.200) |
(212.500) |
|
Excise Duty |
0.000 |
280.200 |
280.200 |
|
Employee
benefits expense |
107.800 |
96.800 |
204.600 |
|
Finance
costs |
71.400 |
70.400 |
141.800 |
|
Depreciation
and amortisation expense |
82.600 |
76.500 |
159.100 |
|
Power and Fuel Expenses |
578.400 |
552.200 |
1130.600 |
|
Freight and benefits expenses |
361.200 |
365.400 |
726.600 |
|
Other
expenditure |
193.500 |
236.000 |
429.500 |
|
Total Expenses |
1527.600 |
1940.200 |
3467.800 |
|
|
|
|
|
|
Profit before tax |
230.900 |
259.600 |
490.500 |
|
Tax
expense |
71.700 |
91.300 |
163.000 |
|
Net profit/ loss for the year |
159.200 |
168.300 |
327.500 |
|
Other comprehensive income |
|
|
|
|
Items
that that will not be reclassified to profit or loss |
0.000 |
0.000 |
0.000 |
|
Income
tac relating to items that will not be reclassified to profit or loss |
0.000 |
0.000 |
0.000 |
|
Total comprehensive income |
159.200 |
168.300 |
327.500 |
|
Earnings Per Share (EPS) |
|
|
|
|
Basic and diluted |
7.80 |
8.25 |
16.05 |
STANDALONE STATEMENT OF ASSETS AND LIABILITIES
|
SOURCES OF FUNDS |
30.09.2017 |
|
|
(Unaudited) |
|
I.
EQUITY
AND LIABILITIES |
|
|
Equity |
|
|
Equity Share Capital |
204.000 |
|
Other Equity |
7931.400 |
|
Total
Shareholders’ Funds |
8135.400 |
|
|
|
|
Liabilities
|
|
|
Non-Current
Liabilities |
|
|
Financial
Liabilities |
|
|
Borrowing |
1458.500 |
|
Other financial liabilities |
461.900 |
|
Provisions |
24.000 |
|
Differed tax liabilities |
358.600 |
|
Other non-current liabilities |
17.900 |
|
Total Non-current Liabilities |
2320.900 |
|
|
|
|
Current Liabilities |
|
|
Financial
Liabilities |
|
|
Borrowing |
800.900 |
|
Trade payables |
934.700 |
|
Other Financial Liabilities |
350.300 |
|
Provisions |
19.600 |
|
Current tax Labilities
|
74.500 |
|
Other current liabilities |
237.900 |
|
Sub
Total Current Liabilities |
2417.900 |
|
|
|
|
TOTAL
EQUITY AND LIABILITIES |
12874.200 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
Property, plant and Equipments |
5565.800 |
|
Capital work in progress |
376.500 |
|
Intangible assets |
1.400 |
|
Financial Assets |
|
|
Investments |
|
|
Investment in
subsidiaries |
2617.800 |
|
Other Investment |
2.800 |
|
Other Financial Assets |
144.800 |
|
Differed tax Assets |
0.000 |
|
Advance Income Tax |
10.000 |
|
Other non-current assets |
344.100 |
|
Total Non-Current
Assets |
9063.200 |
|
|
|
|
(2) Current assets |
|
|
Inventories |
803.400 |
|
Financial Assets |
|
|
Trade receivables |
908.400 |
|
Cash and cash
equivalents |
516.400 |
|
Other Bank Balance |
486.200 |
|
Loans |
250.000 |
|
Other Financial Assets |
424.000 |
|
Other Current assets |
422.600 |
|
Sub Total
Current Assets |
3811.000 |
|
|
|
|
TOTAL
ASSETS |
12874.200 |
NOTES:
- The Board of Directors has announced an interim dividend at INR 2.50 per share on the 2,04,00,000 equity shares of INR 10/- each of the company and has fixed 8th November, 2017 as the "record date" for the purpose.
- Revenue from operations for the current quarter are not comparable with previous quarters/periods, as revenues are presented net of Goods & Services Tax (GST) whereas excise duties were included in revenues with corresponding disclosure under 'Expenses'.
- The consolidated financial result includes the results of its wholly owned subsidiary, namely Sagar Cements (R) Limited [Formerly known as BMM Cements Limited]
- Corresponding previous periods figures have been regrouped/reclassified, wherever considered necessary, to correspond with the current period's grouping.
CORPORATE INFORMATION
Sagar Cements Limited (“the Company”) was incorporated under the Companies Act, 1956 as a public limited company on January 15, 1981. The Company is engaged in the business of manufacture and sale of cement.
MANAGEMENT DISCUSSION
ANALYSIS
To avoid repetition in the Directors’ Report and the Management Discussion and Analysis Report, the information under these reports is furnished below, as a composite summary of the performance of the various aspects of the business of the company.
INDUSTRY STRUCTURE AND DEVELOPMENT
Cement being a basic building material and used widely in urban housing and industrial sectors and in developing infrastructure, its per capita consumption is an important index of a country’s economic growth.
India is the second largest producer of cement in the world and the cement industry in India forms a vital part of its economy, providing employment to more than a million people, directly and indirectly. The top 20 cement companies account for almost 70 per cent of the total cement production in the country. While a total of 188 large cement plants together account for 97 per cent of the total installed capacity in the country, 365 small plants account for the rest. Of these large cement plants, 77 plants are located in the Southern States alone.
This industry is expected to grow at a significant phase due to increase in the government’s push for large infrastructure projects, leading to an incremental demand for 45 million tonnes (MT) of cement in the next three to four years.
COMPANY’S PERFORMANCE
The Infrastructure, construction and realty sectors which consume major part of the cement produced in the country which were on the path of recovery, witnessed a slow-down in the later part of the year 2016-17 due to disruption caused by demonitisation.
Further, speedy revival of demand for cement in Telangana and Andhra Pradesh that was expected following the bifurcation of the erstwhile state of Andhra Pradesh is yet to reach the level hoped for, as the plans announced by the Governments in these states to boost the infrastructure activities post-bifurcation are still in the initial stages. This is a matter of concern for your company as these two states are its major markets. As a result, the cement industry in these states and your company in particular, continues to face challenges with pricing pressure and weak demand.
When viewed in the above contexts, the performance of the company on a stand-alone basis during the year 2016-17 in terms of production, sale and average net sales realization per ton of cement is satisfactory.
FUTURE OUTLOOK
The per capita consumption of cement being very low in India, there is a vast scope for growth in its demand on the long term. However, for a real growth to happen in the cement industry, there should be an overall growth in investments in the real estate and infrastructure sectors.
Telangana and Andhra Pradesh will continue to be the major markets for your Company, notwithstanding the plans to expand its market in other states. With the respective Governments in these states rightly focusing on the development of infrastructure along with the importance given by the Union Government for the development of National Highways, Rural and Urban Roads, Affordable Housing, Port Connectivity, Development of smart cities etc., coupled with private agencies coming up with a slew of their infrastructure development projects, demand for cement in these and their neighboring states is expected to see a significant growth, which augurs well for your company, which, with its aggressive and innovative marketing duly supported by its well motivated marketing personnel, is poised to grab the opportunity available in this scenario. However, till such time that the above scenario becomes a reality, your company may have to continue to face the problems like rising input and distribution costs notwithstanding the efforts being made by your company to mitigate the same.
The Goods and Services Tax rate of 28% fixed by the Government with effect from 01st July, 2017 which may not have major impact on the cement industry. The Company will optimize the distribution/warehouse network under GST regime to further improve the operational efficiency.
Therefore, taking an overall view of the above, your Board is cautiously optimistic about the future outlook for the company.
CONTINGENT
LIABILITIES: [AS ON: 31.03.2017]
Based on legal opinion/advice obtained, no financial implication to the Company with respect to the following cases is perceived as on the Balance Sheet date:
i) Claims against the Company not acknowledged as debt:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Direct taxes related |
119.900 |
2.800 |
|
Indirect taxes related |
189.600 |
125.900 |
|
Others |
42.800 |
20.500 |
ii) APTRANSCO had raised a demand of INR 2,371, on account of Fuel Surcharge Adjustment (FSA) relating to earlier years. Out of which, the company had paid an amount of INR 2,137 up to March 31, 2016. The company had filed a writ petition with the High Court of Telangana and Andhra Pradesh. During the year ended March 31, 2017, the company has settled the balance amount based on Supreme Court ruling.
iii) The Finance Minister of Government of India has announced in the budget for the year 2010-11, imposition of clean energy cess as a duty of excise on coal, lignite and peat. This came into force with effect from July 1, 2010. As advised by the legal experts, the company took CENVAT credit pertaining to clean energy cess on coal for an amount of INR 834 (As at March 31, 2016: INR 530; April 1, 2015: 519) from July 2010 to March 2016. The Department of Central excise issued an order and asked to reverse the amount on the ground that the clean energy cess is not specified tax for input CENVAT credit, thus the credit availed on cess is irregular. Based on department’s order the amount of INR 823 was reversed, but under protest. The balance of INR 11 pertains to the penalty imposed by the department and disclosed in contingent liabilities under indirect taxes. The matter is pending before the Department. Credit will be taken again once the issue is settled in favour of the company.
FIXED ASSETS:
·
Leasehold Land
·
Buildings
·
Plant and Machinery
·
Electrical Installations
·
Furniture and Fixtures
·
Office and Other Equipment
·
Computers
·
Vehicles
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
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.39 |
|
|
1 |
INR 85.74 |
|
Euro |
1 |
INR 76.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
IND |
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 |
YES |
|
--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.