|
|
|
MIRA INFORM REPORT
|
Report No. : |
484745 |
|
Report Date : |
08.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
KRISHNA SOLVECHEM LIMITED |
|
|
|
|
Registered
Office : |
M-2, Sriniwas Building, 382/384, Narshi Natha Street, Mumbai - 400009, Maharashtra |
|
Tel. No.: |
91-22-61230222 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
02.03.2006 |
|
|
|
|
Com. Reg. No.: |
11-160204 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 39.410 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51102MH2006PLC160204 |
|
|
|
|
IEC No.: |
0306063671 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCK7702J |
|
|
|
|
GSTIN/UIN : |
Not Divulged |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading of Chemicals and Solvents. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2006 and it is having
satisfactory track. For the financial year 2017, the company has marginal decreased in its
revenue from operation and maintained minimal profitability margin of 0.69%. Rating takes into consideration sound financial profile of the company
marked by adequate networth base and average debt balance sheet. Further, rating also reflects from its long standing track record of
business operation and marginal improvement in the profitability profile. However, rating strength is partially offset by low profitability
margin during the year and intense competition from the industry. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The company can be considered for 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 08.01.2018
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 DENIED BY
|
Name : |
Ms. Rita Kalsariya |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-61230222 |
|
Date : |
06.01.2018 |
(Tel. No.: 91-22-66312224 Ringing)
LOCATIONS
|
Registered Office : |
M-2, Sriniwas Building, 382/384, Narshi Natha Street, Mumbai - 400009, Maharashtra, India |
|
Tel. No.: |
91-22-61230222/ 66312224 |
|
Fax No.: |
91-22-23428975 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Correspondence / Administrative Office : |
B-503, Sahyog, S.V. Road, Kandivali (West), Mumbai – 400067,
Maharashtra, India |
|
Tel. No.: |
91-22-6123 0222 |
|
Fax No.: |
91-22-28624110/ 28634110 |
|
|
|
|
Factory Address : |
E-26/4, M. I. D. C., Raighad, Maharashtra. India. |
|
|
|
|
Branch Office : |
5, Nisarg Apartment, 3 - Ghogha Circle, Behind Saranath Bunglow, Bhavanagar - 364 001, Gujarat, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Atul Manmohan Vora |
|
Designation : |
Managing Director |
|
Address : |
D-507, Padmavati Complex, Link Road, Off. M.G. Road, Kandivali (West), Mumbai - 400067, Maharashtra, India |
|
Date of Birth/Age : |
13.01.1973 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
02.03.2006 |
|
PAN No.: |
AAAPV7240D |
|
DIN No.: |
00014989 |
|
|
|
|
Name : |
Mr. Yogesh Manmohan Vora |
|
Designation : |
Whole-Time Director |
|
Address : |
D-507, Padmavati Complex, New Link Road, Dahanukarwadi, Kandivali (West), Mumbai - 400067, Maharashtra, India |
|
Date of Birth/Age : |
31.03.1975 |
|
Qualification : |
Diploma in Chemical Engineering |
|
Date of Appointment : |
02.03.2006 |
|
PAN No.: |
AAFPV6261R |
|
DIN No.: |
00014993 |
|
|
|
|
Name : |
Mr. Prakash Manmohan Vora |
|
Designation : |
Whole-Time Director |
|
Address : |
A/502, Padmavati Complex, Dahanukar Wadi, Link Road, Kandivali (West), Mumbai - 400101, Maharashtra, India |
|
Date of Birth/Age : |
22.10.1966 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
02.03.2006 |
|
PAN No.: |
AACPV4617J |
|
DIN No.: |
01484978 |
KEY EXECUTIVES
|
Name : |
Ms. Rita Kalsariya |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Manmohan Vora |
|
3500 |
|
Atul Manmohan Vora |
|
2614000 |
|
Prakash Manmohan Vora |
|
247500 |
|
Yogesh Manmohan Vora |
|
382500 |
|
Veenaben Manmohan Vora |
|
1000 |
|
Bhavna Atul Vora |
|
500 |
|
Asha Prakash Vora |
|
500 |
|
Falguni Yogesh Vora |
|
500 |
|
Shrishti Tradewell Private Limited, India |
|
312500 |
|
Damini Infotech Private Limited, India |
|
303030 |
|
The Indo Berolina Industries Private Limited, India |
|
75439 |
|
Total |
|
3940969 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
82.47 |
|
Public/Other than promoters (Body corporate) |
17.53 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of Chemicals and Solvents. (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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||||
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Imports : |
Not Divulged |
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|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
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 : |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
C. Shah and Company Chartered Accountants |
|
Address : |
B-201 Pankaj Kamal Apartments, Shankar Lane, Kandivali West, Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
BEYPS4004P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4100000 |
Equity Shares |
INR 10/- each |
INR 41.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3940969 |
Equity Shares |
INR 10/- each |
INR 39.410
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 |
39.410 |
39.410 |
39.410 |
|
(b) Reserves and Surplus |
115.164 |
107.010 |
100.885 |
|
(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) |
154.574 |
146.420 |
140.295 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
39.295 |
42.291 |
76.630 |
|
(b) Deferred tax liabilities (Net) |
0.036 |
0.000 |
2.934 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.444 |
0.345 |
0.323 |
|
Total Non-current
Liabilities (3) |
39.775 |
42.636 |
79.887 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
170.899 |
155.275 |
110.175 |
|
(b) Trade
payables |
221.743 |
188.292 |
173.720 |
|
(c) Other
current liabilities |
12.278 |
22.335 |
6.639 |
|
(d) Short-term
provisions |
0.108 |
1.177 |
0.116 |
|
Total Current
Liabilities (4) |
405.028 |
367.079 |
290.650 |
|
|
|
|
|
|
TOTAL |
599.377 |
556.135 |
510.832 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
34.823 |
35.230 |
14.735 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
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 |
0.004 |
0.003 |
0.501 |
|
(c) Deferred tax assets (net) |
0.000 |
0.382 |
0.000 |
|
(d)
Long-term loans and advances |
4.212 |
2.932 |
6.107 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.325 |
|
Total Non-Current
Assets |
39.039 |
38.547 |
21.668 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
41.816 |
35.904 |
57.148 |
|
(c) Trade receivables |
455.401 |
420.378 |
365.587 |
|
(d) Cash and bank balances |
20.811 |
21.904 |
21.728 |
|
(e)
Short-term loans and advances |
42.310 |
39.402 |
44.701 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
560.338 |
517.588 |
489.164 |
|
|
|
|
|
|
TOTAL |
599.377 |
556.135 |
510.832 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1181.319 |
1265.103 |
1118.482 |
|
|
Other Income |
4.482 |
3.129 |
0.731 |
|
|
TOTAL |
1185.801 |
1268.232 |
1119.213 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
1104.309 |
1167.133 |
1073.736 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(5.912) |
21.244 |
(35.346) |
|
|
Employee benefit expense |
7.055 |
5.137 |
4.016 |
|
|
Other expenses |
34.851 |
29.553 |
23.399 |
|
|
Extraordinary items before tax |
0.000 |
1.250 |
11.924 |
|
|
TOTAL |
1140.303 |
1224.317 |
1077.729 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
45.498 |
43.915 |
41.484 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
33.326 |
36.193 |
33.860 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.172 |
7.722 |
7.624 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.023 |
0.583 |
7.941 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
11.149 |
7.139 |
(0.317) |
|
|
|
|
|
|
|
Less |
TAX |
2.995 |
(0.508) |
(1.558) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
8.154 |
7.647 |
1.241 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
24.460 |
19.742 |
8.998 |
|
|
TOTAL EARNINGS |
24.460 |
19.742 |
8.998 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
122.952 |
103.682 |
14.058 |
|
|
TOTAL IMPORTS |
122.952 |
103.682 |
14.058 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.02 |
1.94 |
0.31 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
9.712 |
17.523 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
16.370 |
26.717 |
(52.561) |
|
Net cash flow from operating activity |
14.279 |
24.663 |
(53.943) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
140.71 |
121.28 |
119.30 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
2.59 |
3.01 |
3.06 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
73.29 |
58.88 |
59.05 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.09 |
1.22 |
0.73 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.31 |
1.25 |
2.82 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.76 |
0.77 |
0.72 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.42 |
1.47 |
1.33 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.62 |
2.51 |
2.07 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.23 |
0.24 |
0.11 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.37 |
1.21 |
1.23 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
0.69 |
0.60 |
0.11 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.36 |
1.38 |
0.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.28 |
5.22 |
0.88 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.38 |
1.41 |
1.68 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.28 |
1.31 |
1.49 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.26 |
0.26 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
5.58 |
5.46 |
4.74 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.38 |
1.41 |
1.68 |
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 |
39.410 |
39.410 |
39.410 |
|
Reserves & Surplus |
100.885 |
107.010 |
115.164 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
140.295 |
146.420 |
154.574 |
|
|
|
|
|
|
Long-term borrowings |
76.630 |
42.291 |
39.295 |
|
Short term borrowings |
110.175 |
155.275 |
170.899 |
|
Total
borrowings |
186.805 |
197.566 |
210.194 |
|
Debt/Equity
ratio |
1.332 |
1.349 |
1.360 |
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 |
1118.482 |
1265.103 |
1181.319 |
|
|
|
13.109 |
(6.623) |
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 |
1118.482 |
1265.103 |
1181.319 |
|
Profit/ (Loss) |
1.241 |
7.647 |
8.154 |
|
|
0.11
% |
0.60
% |
0.69
% |
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from banks |
1.168 |
4.914 |
|
Rupee term loans from others |
2.112 |
1.362 |
|
Other loans and advances |
36.015 |
36.015 |
|
Total |
39.295 |
42.291 |
INDEX
OF CHARGES
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G09190224 |
10605434 |
YES BANK LIMITED |
17/11/2015 |
20/07/2016 |
- |
90000000.0 |
9TH FLOOR, NEHRU CENTER, DISCOVERY OF INDIA, DR ANNIE BESANT ROAD, WORLI MUMBAI MAHARASHTRA 400018 INDIA |
|
2 |
C81336489 |
10624921 |
YES BANK LIMITED |
17/06/2015 |
16/02/2016 |
- |
90000000.0 |
9TH FLOOR, NEHRU CENTER, DISCOVERY OF INDIA, DR ANNIE BESANT ROAD, WORLI MUMBAI MAHARASHTRA 400018 INDIA |
|
3 |
G49649122 |
10548923 |
ICICI BANK LIMITED |
29/01/2015 |
12/06/2017 |
- |
220000000.0 |
ICICI Bank Tower, Near Chakli Circle, Old Padra Road Vadodara GUJARAT 390007 INDIA |
|
4 |
C58626821 |
10334893 |
India Factoring and Finance Solutions Private Limited |
28/12/2011 |
26/03/2015 |
- |
40000000.0 |
6th Floor, Vaibhav Chambers, Opposite Income tax, Bandra- Kurla Complex, Bandra (East) Mumbai MAHARASHTRA 400051 INDIA |
|
5 |
C47843610 |
10108190 |
THE KAPOL CO-OPERATIVE BANK LIMITED |
26/03/2008 |
07/04/2014 |
26/03/2015 |
60000000.0 |
ROYAL HOUSE, 1ST FLOOR,MATHURADAS ROAD, KANDIVALI (WEST) MUMBAI MAHARASHTRA 400067 INDIA |
|
6 |
C47886817 |
10385240 |
The Shamrao Vithal Co-operative Bank Limited |
09/10/2012 |
- |
24/03/2015 |
30000000.0 |
1st Floor, Maker Towers'E' Cuffe Parade Cuffe Parade Mumbai MAHARASHTRA 400005 INDIA |
|
7 |
C47614946 |
10461262 |
NKGSB CO.OP. BANK LTD. |
13/11/2013 |
- |
27/02/2015 |
20000000.0 |
GR. FLOOR, SHREE SAHYADRI SOC., OPP. BAJAJ HALL,S.V. ROAD, CHINCHAVALI, MALAD (WEST), MUMBAI MAHARASHTRA 400064 INDIA |
|
8 |
C14137830 |
10457078 |
NKGSB CO.OP. BANK LTD. |
08/10/2013 |
12/10/2013 |
25/07/2014 |
30000000.0 |
GR. FLOOR, SHREE SAHYADRI SOC., OPPOSITE BAJAJ HALL, S.V. ROAD, CHINCHAVALI, MALAD (WEST), MUMBAI MAHARASHTRA 400064 INDIA |
|
9 |
C14138226 |
10398100 |
The Shamrao Vithal Co-operative Bank Ltd. |
08/12/2012 |
- |
07/07/2014 |
68000000.0 |
1st Floor, Maker Towers 'E' Cuffe Parade Cuffe Parade, Mumbai MAHARASHTRA 400005 INDIA |
|
10 |
C14138788 |
10407584 |
The Shamrao Vithal Co-operative Bank Limited |
24/01/2013 |
- |
07/07/2014 |
68000000.0 |
1st Floor, Maker Towers 'E' Cuffe Parade Cuffe Parade, Mumbai MAHARASHTRA 400005 INDIA |
CONTINGENT
LIABILITIES: (As on 31.03.2017)
Counter guarantee given in respect of bills discounted with Banks and NBFCs INR 21.290 Million. However, the same may not be classified as Contingent Liability as the same are fully Insured by United India Insurance. (Previous Year INR 28.851 Million).
Income tax demand of INR 15.968 Million (P.Y. INR 15.968 Million) in respect of Assessment Year 2009-10.
Figures of previous year, corresponding to the current year are restated/ regrouped/ reclassified, wherever necessary.
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- 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,
1] INFORMATION ON DESIGNATED
PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.38 |
|
|
1 |
INR 86.02 |
|
Euro |
1 |
INR 76.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
SUD |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.