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|
|
MIRA INFORM REPORT
|
Report No. : |
484476 |
|
Report Date : |
06.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
PV POWER TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. GJ-14, SDF-VII, Seepz SEZ, Andheri (East), Mumbai-400096,
Maharashtra |
|
Tel. No.: |
91-22-42214800 |
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|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
22.01.2008 |
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Com. Reg. No.: |
11-178125 |
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Capital Investment
/ Paid-up Capital : |
INR 10.100 Million |
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|
CIN No.: [Company Identification
No.] |
U40102MH2008PTC178125 |
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|
IEC No.: |
0307089690 |
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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.] |
AAECP5113E |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer
of Solar Modules. [Registered Activity] |
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|
|
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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
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|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2008. It is engaged in electric power generation using solar energy.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Borrowing=BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
17.05.2017 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Borrowing=A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
17.05.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 06.01.2018.
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 BY
|
Name : |
Mr. Smruti |
|
Designation : |
Senior Accountant |
|
Contact No.: |
91-22-42214800 |
|
Date : |
04.01.2018 |
LOCATIONS
|
Registered Office/ Corporate Headquarter/ Factory 1 : |
Unit No. GJ-14, SDF-VII, Seepz SEZ, Andheri (East),
Mumbai-400096, Maharashtra, India |
|
Tel. No.: |
91-22-42214800 |
|
Mobile No.: |
91-9930429079 (Mr. Ashish Borldkar) |
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Fax No.: |
91-22-42214801 |
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E-Mail : |
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|
Website : |
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Factory 2 : |
Plot No 60, Tarapur Textile Park Limited, Village Gundale, Boisar
Chillar Road, Boisar (East), Taluka Palghar, Maharashtra, India |
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|
|
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Branch Offices : |
Located at: · Rajasthan · Andhra Pradesh ·
Chattisgarh |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Pushpak Vaghjibhai Desai |
|
Designation : |
Director |
|
Address : |
301, 3rd Floor, Hira Kunj, Shaheed Bhagat Singh Marg, Vile Parle (West), Mumbai-400056, Maharashtra, India |
|
Date of Birth/Age : |
29.01.1978 |
|
Qualification : |
Bcom |
|
Date of Appointment : |
22.01.2008 |
|
PAN No.: |
ACAPD9982E |
|
DIN No.: |
00370384 |
|
|
|
|
Name : |
Mr. Aalok Dilip Shanghvi |
|
Designation : |
Director |
|
Address : |
Tirth No. 17, 12th Road, JVPD Vile Parle (West), Mumbai -400049, Maharashtra, India |
|
Date of Birth/Age : |
21.09.1984 |
|
Qualification : |
Bcom |
|
Date of Appointment : |
22.01.2008 |
|
PAN No.: |
AXLPS4835P |
|
DIN No.: |
01951829 |
|
|
|
|
Name : |
Jimmi Vaghji Desai |
|
Designation : |
Director |
|
Address : |
301, 3rd Floor, Hira Kunj,, Shaheed Bhagat Singh Marg, Vile Parle (West), Mumbai, 400056, Maharashtra, India |
|
Date of Birth/Age : |
13.07.1984 |
|
Qualification : |
Bcom |
|
Date of Appointment : |
15.07.2009 |
|
PAN No.: |
AIEPD4927D |
|
DIN No.: |
02623717 |
KEY EXECUTIVES
|
Name : |
Mr. Smruti |
|
Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Privilege Trading Private Limited, India |
|
4999 |
|
Aalok Dilip Shanghvi |
|
500001 |
|
Pushpak Vaghjibhai Desai |
|
1 |
|
Sundaram Jewels Private Limited, India |
|
504997 |
|
Vinod Tilchand Desai |
|
2 |
|
|
|
|
|
Total |
|
1010000 |
AS ON: 30.09.2016
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
49.51 |
|
Promoters – Body Corporate |
50.49 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Solar Modules. [Registered Activity] |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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||||
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS (AS ON 31.03.2017)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Solar Photovoltaic |
62,500 |
45,000 |
-- |
|
Boisar Unit |
1000MW |
NA |
NA |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management |
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Bankers : |
· IndusInd Bank Limited Indusind House 425, Dadasaheb Bhadkamkar Marg,, Mumbai - 400004, Maharashtra, India · Union Bank of India Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg,
Mumbai - 400023, Maharashtra, India |
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Facilities : |
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Auditors : |
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|
Name : |
J P Wankadia and Company Chartered Accountants |
|
Address : |
32C, Mulla Manzil, Balaram Street, Grant Road, Mumbai-400007, Maharashtra, India |
|
PAN No.: |
AAIPW5872E |
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|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Related Parties : |
· Sun Pharmaceuticals Industries Limited, India [L24230GJ1993PLC019050] · Solar Power Technologies India LLP |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1010000 |
Equity Shares |
INR 10/- each |
INR 10.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1010000 |
Equity Shares |
INR 10/- each |
INR 10.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 [Consolidated] |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.100 |
10.100 |
10.100 |
|
(b) Reserves & Surplus |
58.962 |
15.700 |
(9.894) |
|
(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) |
69.062 |
25.800 |
0.206 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
101.585 |
101.585 |
101.585 |
|
(b) Deferred tax liabilities (Net) |
8.107 |
8.153 |
8.626 |
|
(c)
Other long term liabilities |
0.016 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.939 |
0.545 |
0.539 |
|
Total
Non-current Liabilities (3) |
110.647 |
110.283 |
110.750 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
228.668 |
177.691 |
128.230 |
|
(b)
Trade payables |
253.769 |
89.627 |
69.161 |
|
(c)
Other current liabilities |
21.259 |
8.425 |
11.683 |
|
(d)
Short-term provisions |
3.326 |
0.465 |
(2.173) |
|
Total
Current Liabilities (4) |
507.022 |
276.208 |
206.901 |
|
|
|
|
|
|
TOTAL |
686.731 |
412.291 |
317.857 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
101.865 |
69.407 |
74.281 |
|
(ii)
Intangible Assets |
0.489 |
0.097 |
0.105 |
|
(iii)
Capital work-in-progress |
2.646 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
4.953 |
1.603 |
0.478 |
|
Total
Non-Current Assets |
109.953 |
71.107 |
74.864 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
97.974 |
125.817 |
54.921 |
|
(c)
Trade receivables |
437.673 |
174.125 |
155.587 |
|
(d)
Cash and cash equivalents |
21.798 |
17.868 |
13.205 |
|
(e)
Short-term loans and advances |
0.086 |
0.085 |
0.175 |
|
(f)
Other current assets |
19.247 |
23.289 |
19.105 |
|
Total
Current Assets |
576.778 |
341.184 |
242.993 |
|
|
|
|
|
|
TOTAL |
686.731 |
412.291 |
317.857 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 [Consolidated] |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1756.140 |
810.229 |
479.167 |
|
|
|
Other Income |
1.487 |
1.300 |
1.696 |
|
|
|
TOTAL |
1757.627 |
811.529 |
480.863 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
999.130 |
647.060 |
368.972 |
|
|
|
Purchases of Stock-in-Trade |
465.795 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(7.003) |
(6.182) |
(3.143) |
|
|
|
Employees benefits expense |
31.236 |
21.016 |
16.441 |
|
|
|
Other expenses |
174.279 |
101.133 |
81.396 |
|
|
|
TOTAL |
1663.437 |
763.027 |
463.666 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
94.190 |
48.502 |
17.197 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
26.463 |
17.161 |
17.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
67.727 |
31.341 |
(0.303) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
6.737 |
6.186 |
6.196 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
60.990 |
25.155 |
(6.499) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
17.770 |
(0.440) |
0.751 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
43.220 |
25.595 |
(7.250) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings [FOB basis] |
21.642 |
6.701 |
3.443 |
|
|
TOTAL EARNINGS |
21.642 |
6.701 |
3.443 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
187.335 |
75.438 |
57.413 |
|
|
|
Capital Goods |
16.561 |
0.638 |
0.299 |
|
|
TOTAL IMPORTS |
203.896 |
76.076 |
57.712 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
43.00 |
25.00 |
(7.00) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 [Consolidated] |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
65.924 |
5.476 |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
48.153 |
5.915 |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 [Consolidated] |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
90.97 |
78.44 |
118.52 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.01 |
4.65 |
3.08 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
63.23 |
50.56 |
68.42 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.96 |
0.39 |
0.31 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.90 |
0.70 |
0.23 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 [Consolidated] |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.89 |
0.92 |
0.97 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
4.78 |
10.82 |
1115.61 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
7.34 |
10.71 |
1004.37 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.52 |
2.69 |
361.10 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.56 |
2.83 |
0.98 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 [Consolidated] |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.46 |
3.16 |
(1.51) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.29 |
6.21 |
(2.28) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
62.58 |
99.21 |
(3519.42) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 [Consolidated] |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.14 |
1.24 |
1.17 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.94 |
0.78 |
0.91 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.10 |
0.06 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
32.70 |
27.65 |
22.75 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.14 |
1.24 |
1.17 |
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
[Consolidated] |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
10.100 |
10.100 |
10.100 |
|
Reserves & Surplus |
(9.894) |
15.700 |
58.962 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
0.206 |
25.800 |
69.062 |
|
|
|
|
|
|
long-term borrowings |
101.585 |
101.585 |
101.585 |
|
Short term borrowings |
128.230 |
177.691 |
228.668 |
|
Total
borrowings |
229.815 |
279.276 |
330.253 |
|
Debt/Equity
ratio |
1,115.607 |
10.825 |
4.782 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015
[Consolidated] |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
479.167 |
810.229 |
1756.140 |
|
|
|
69.091 |
116.746 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015
[Consolidated] |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR In
Million |
INR
In Million |
|
Sales |
479.167 |
810.229 |
1756.140 |
|
Profit/ (Loss) |
(7.250) |
25.595 |
43.220 |
|
|
(1.51%) |
3.16% |
2.46% |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G65761868 |
100137094 |
Induslnd Bank Limited |
24/08/2017 |
- |
- |
516595.0 |
Acme Plaza, C.T.S. No 32, opp Sangam Talkies,Andheri Kurla Road, Andheri eastMumbaiMH400069IN |
|
2 |
G32946618 |
10183141 |
INDUSIND BANK LTD. |
12/10/2009 |
05/12/2016 |
- |
335000000.0 |
2401 GEN THIMMAYYA ROADCONTONMENTPUNEMa411001IN |
|
3 |
G50921535 |
10145099 |
UNION BANK OF INDIA |
14/02/2009 |
- |
31/07/2017 |
50000000.0 |
MUMBAI SAMACHAR MARG BRANCH,66/80, MUMBAI SAMACHAR MARG, FORT,MUMBAIMH400023IN |
|
4 |
G50920958 |
10106893 |
UNION BANK OF INDIA |
21/05/2008 |
- |
31/07/2017 |
43600000.0 |
MUMBAI SAMACHAR MARG BRANCH,66/80, MUMBAI SAMACHAR MARG,MUMBAIMH400023IN |
|
5 |
G50921816 |
10147094 |
UNION BANK OF INDIA |
14/02/2009 |
- |
31/07/2017 |
90000000.0 |
MUMBAI SAMACHAR MARG BRANCH,66/80, MUMBAI SAMACHAR MARG, FORT,MUMBAIMH400023IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Other loans and advances, others |
101.585 |
101.585 |
|
|
|
|
|
Total |
101.585 |
101.585 |
CORPORATE INFORMATION
The Company was incorporated as Private Limited Company in India on 22nd January, 2008 vides registration no. U40102MH2008PTC178124 issued by the Registrar of Companies, Mumbai, Maharashtra. The Company has a Solar Module Manufacturing Unit in Seepz - SEZ. During the year, a new Solar Module Manufacturing Unit at Boisar has come into operations. The Company also has Branches in Rajasthan, Andhra Pradesh, and Chattisgarh India. The above accounts are the consolidated accounts of all the Branches.
The company has liquidated its wholly owned subsidiary on 29/06/2015. Permissions from the statutory authorities for such closure are pending to be received.
STATE OF COMPANIES AFFAIR
Performance Highlights:- During the year, the Company has registered a total revenue of INR 1757.627 Million (previous year INR 811.529 Million and earned a Net profit after Tax of INR 43.220 Million (previous year profit of INR 25.595 Million.
CHANGE OF ADDRESS:
The Registered address of the company has been shifted from 301, Hira
Kunj, Veer Bhagat Singh Marg, Vile Parle (W), Mumbai-400056, Maharashtra, India
to the present address w.e.f 13.10.2018.
FIXED ASSETS:
Tangible Assets
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 63.38 |
|
UK Pound |
1 |
INR 86.02 |
|
Euro |
1 |
INR 76.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PUJ |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
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 |
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.