|
|
|
MIRA INFORM REPORT
|
Report No. : |
485022 |
|
Report Date : |
09.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SOUJANYA COLOR PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-35/C-36, T.T.C Industrial Area, M.I.D.C. Pawane, Navi Mumbai-400705,
Maharashtra |
|
Tel. No.: |
91-22-41711234/ 41711213 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
24.06.2008 |
|
|
|
|
Com. Reg. No.: |
11-183907 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 30.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH2008PTC183907 |
|
|
|
|
IEC No.: |
0389053210 |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMCS0859G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of pigments and other colouring matter (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2008. It is manufacturer
of pigments and other colouring matter. As per the financial of 2017, the company has achieved a satisfactory
growth of 25.85% in its revenue as compared to the previous year’s revenue
and has earned an average net profit margin of 6.27%. The company possesses healthy financial position marked by above
average networth base along with low debt balance sheet profile and fair
liquidity position. Rating takes into consideration the company’s favourable Earning Per
Share (EPS) of INR 25.14 as against its Face Value (FV) of INR 10. Business is active. Payments are reported to be usually correct. In view of aforesaid, 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.
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 |
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 09.01.2018
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 : |
Mr. Milind |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-41711213 |
|
Date : |
08.01.2018 |
LOCATIONS
|
Registered/ Corporate Office/ Factory : |
C-35/C-36, T.T.C Industrial Area, M.I.D.C. Pawane, Navi Mumbai –
400705, Maharashtra, India |
|
Tel. No.: |
91-22-41711234/ 41711213 |
|
Fax No.: |
91-22-41711209 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Priyamvada Ashesh Bhumkar |
||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||
|
Address : |
Vasant Vihar Complex, Row House, 33/34, Pokhran Road No.2, Majiwade, Thane
(West), Mumbai - 400601, Maharashtra, India |
||||||||||||||||||||
|
Date of Birth/Age : |
02.07.1962 |
||||||||||||||||||||
|
Date of Appointment : |
24.06.2008 |
||||||||||||||||||||
|
PAN No.: |
ADWPB4982F |
||||||||||||||||||||
|
DIN No.: |
00726138 |
||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mrs. Asha Chidanand Bhumkar |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
Row House No.33, Vasant Vihar, Pokharan Road No.2, Thane (West), Thane
- 400601, Maharashtra, India |
||||||||||||||||||||
|
Date of Birth/Age : |
21.07.1942 |
||||||||||||||||||||
|
Date of Appointment : |
24.06.2008 |
||||||||||||||||||||
|
PAN No.: |
ADSPB5206E |
||||||||||||||||||||
|
DIN No.: |
01055858 |
||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Ashesh Chidanand Bhumkar |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
Row House No.33, Vasant Vihar, Pokharan Road No.2, Thane (West), Thane
- 400601, Maharashtra, India |
||||||||||||||||||||
|
Date of Birth/Age : |
27.12.1961 |
||||||||||||||||||||
|
Date of Appointment : |
24.06.2008 |
||||||||||||||||||||
|
PAN No.: |
ADSPB2067K |
||||||||||||||||||||
|
DIN No.: |
02203709 |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Jashan Ashesh Bhumkar |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
Row House No.33, Vasant Vihar, Pokharan Road No.2, Thane (West), Thane
- 400601, Maharashtra, India |
||||||||||||||||||||
|
Date of Birth/Age : |
09.02.1992 |
||||||||||||||||||||
|
Date of Appointment : |
15.04.2010 |
||||||||||||||||||||
|
PAN No.: |
AJBPB7167M |
||||||||||||||||||||
|
DIN No.: |
03033461 |
||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Milind |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Asha Chidanand Bhumkar |
903000 |
30.00 |
|
Priyamvada Ashesh Bhumkar |
602000 |
20.00 |
|
Ashesh Chidanand Bhumkar |
602000 |
20.00 |
|
Soujanya Bhumkar |
602000 |
20.00 |
|
Jashan Bhumkar |
301000 |
10.00 |
|
Total |
3010000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of pigments and other colouring matter (Registered Activity) |
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|
|
||||||||||
|
Products / Services
: |
|
||||||||||
|
|
|
||||||||||
|
Brand Names : |
Not Available |
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|
||||||||||
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Agencies Held : |
Not Available |
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|
||||||||||
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Exports : |
Not Divulged |
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|
|
||||||||||
|
Imports : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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|
||||||||||||||||||||||||
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No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
D. C. Sejpal and Company Chartered Accountants |
|
Address : |
Big Three Building, 2nd Floor, 88 Anandlial Podar Marg, Marine Lines, Mumbai - 400002, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAMFD2174Q |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
· Ashesh Bhumkar (HUF) · C. J. Bhumkar (HUF) · Saujesh Chemicals Private Limited · Soujanya Enterprises Private Limited |
CAPITAL STRUCTURE
As on 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3010000 |
Equity Shares |
INR 10/- each |
INR 30.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
30.100 |
30.100 |
30.100 |
|
(b) Reserves & Surplus |
223.696 |
151.623 |
101.853 |
|
(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) |
253.796 |
181.723 |
131.953 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
136.509 |
143.322 |
144.897 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
1.350 |
|
(d) long-term provisions |
8.431 |
4.832 |
3.295 |
|
Total
Non-current Liabilities (3) |
144.940 |
148.154 |
149.542 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
69.180 |
47.317 |
100.029 |
|
(b) Trade payables |
168.179 |
164.620 |
95.052 |
|
(c) Other current liabilities |
52.281 |
51.972 |
41.986 |
|
(d) Short-term provisions |
13.261 |
16.556 |
2.427 |
|
Total
Current Liabilities (4) |
302.901 |
280.465 |
239.494 |
|
|
|
|
|
|
TOTAL |
701.637 |
610.342 |
520.989 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
262.438 |
254.055 |
271.369 |
|
(ii) Intangible Assets |
1.151 |
1.457 |
1.694 |
|
(iii) Capital work-in-progress |
0.076 |
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) |
8.278 |
7.066 |
4.528 |
|
(d) Long-term Loan and Advances |
1.448 |
1.405 |
1.593 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
273.391 |
263.983 |
279.184 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
87.805 |
79.201 |
62.870 |
|
(c) Trade receivables |
296.263 |
255.355 |
155.965 |
|
(d) Cash and cash equivalents |
12.090 |
1.984 |
5.950 |
|
(e) Short-term loans and
advances |
31.748 |
5.105 |
14.879 |
|
(f) Other current assets |
0.340 |
4.714 |
2.141 |
|
Total
Current Assets |
428.246 |
346.359 |
241.805 |
|
|
|
|
|
|
TOTAL |
701.637 |
610.342 |
520.989 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1206.961 |
959.073 |
741.280 |
|
|
Other Income |
9.580 |
12.742 |
6.340 |
|
|
TOTAL
|
1216.541 |
971.815 |
747.620 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
846.255 |
647.001 |
507.718 |
|
|
Purchases of Stock-in-Trade |
0.000 |
1.305 |
1.215 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(10.372) |
(1.605) |
7.309 |
|
|
Employees benefits expense |
106.302 |
85.871 |
68.596 |
|
|
Other expenses |
104.583 |
78.184 |
80.912 |
|
|
Exceptional Items |
0.000 |
(3.025) |
0.000 |
|
|
TOTAL |
1046.768 |
807.731 |
665.750 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
169.773 |
164.084 |
81.870 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
21.369 |
24.822 |
33.580 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
148.404 |
139.262 |
48.290 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
32.364 |
34.103 |
41.030 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
116.040 |
105.159 |
7.260 |
|
|
|
|
|
|
|
Less |
TAX |
40.358 |
36.531 |
1.988 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
75.682 |
68.628 |
5.272 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
230.356 |
194.302 |
107.690 |
|
|
Total
|
230.356 |
194.302 |
107.690 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials and Components |
NA |
98.033 |
74.481 |
|
|
Capital Goods |
NA |
0.000 |
1.076 |
|
|
TOTAL IMPORTS |
NA |
98.033 |
75.557 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
25.14 |
22.80 |
1.75 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
3.410 |
4.335 |
5.956 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
118.935 |
130.229 |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
89.59 |
97.18 |
76.80 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.07 |
3.76 |
4.75 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
72.54 |
92.68 |
68.17 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.93 |
2.07 |
1.30 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.64 |
0.64 |
0.30 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.63 |
0.70 |
0.75 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.82 |
1.07 |
1.90 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.19 |
1.54 |
1.81 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.04 |
1.41 |
2.07 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
7.94 |
6.61 |
2.44 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
6.27 |
7.16 |
0.71 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
10.79 |
11.24 |
1.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
29.82 |
37.77 |
4.00 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.41 |
1.23 |
1.01 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.12 |
0.95 |
0.75 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.36 |
0.30 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
6.95 |
6.48 |
8.33 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.41 |
1.23 |
1.01 |
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 |
30.100 |
30.100 |
30.100 |
|
Reserves & Surplus |
101.853 |
151.623 |
223.696 |
|
Net
worth |
131.953 |
181.723 |
253.796 |
|
|
|
|
|
|
long-term borrowings |
144.897 |
143.322 |
136.509 |
|
Short term borrowings |
100.029 |
47.317 |
69.180 |
|
Current maturities of
long-term debts |
5.956 |
4.335 |
3.410 |
|
Total
borrowings |
250.882 |
194.974 |
209.099 |
|
Debt/Equity
ratio |
1.901 |
1.073 |
0.824 |
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 |
741.280 |
959.073 |
1206.961 |
|
|
|
29.381 |
25.847 |
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 |
741.280 |
959.073 |
1206.961 |
|
Profit |
5.272 |
68.628 |
75.682 |
|
|
0.71% |
7.16% |
6.27% |
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 |
No |
|
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 |
REVIEW OF BUSINESS OPERATIONS
AND FUTURE PROSPECTS
The Directors wish to present the details of Business operations done during the year: The total revenue of the Company has increased to INR 1216.541 million as compared to INR 971.815 over previous year. The profit after tax has also increased to INR 75.682 million as against INR 68.628 million during previous year. The higher revenue is due to consolidation of Company’s position in the market coupled with tight control over operational expenses has resulted into increased profitability during the year. The Directors hope to achieve better results during the year.
Sales: The Company has continued to grow steadily year on year recording a 25% growth in sales over the previous year. Significant reasons contributing to growth have been focused marketing efforts to expand markets in the international space along with deeper penetration into the domestic markets through reaching mid and small sized customers. The company benefitted from tie-ups for multiple product supplies to large key customers in MNC category.
Production & Profitability: Average monthly production volumes went up during the year by almost 30% and the company recorded a highest production volume of 383 KL in the month of June 2016. This comprised of a complex product and pack mix and was achievable due to a strong focus by the manufacturing team on operational efficiency. Prices for raw materials and packing material firmed up during the year with Titanium dioxide crossing the USD 2400/MT mark. Paper was another input which showed a steep upward trend. Shortages of both these materials impacted production and service efficiencies. Overall impact of firmed prices was felt on the net profitability which came down from 10% to 9%.
Market Environment and Marketing: The market demand was sluggish and markets were in an unexcited state almost throughout the year. The reason was uncertainty and order patterns fluctuated through the year. Demonetization in Nov-2016, put a break on sales of their customers as cash disappeared from people’s pockets particularly from rural areas. A few months were lost until the products started rolling off the shelf. The upcoming roll out of GST on 1st July, 2017 also landed uncertainty to business as companies were not sure about stocking goods. All in all, market situation was uncertain and sluggish. The company put a large effort into business development activity, setting a strategy to focus on developing presence in select international markets. A slew of new products were introduced during the year catering to newer industrial application in the construction, personal care, foam and composite sectors.
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G00898734 |
100018207 |
KOTAK MAHINDRA PRIME LIMITED |
31/01/2016 |
- |
- |
3098976.0 |
27BKC, C 27, G BLOCK BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI MAHARASHTRA 400051 INDIA |
|
2 |
B94931607 |
10303255 |
KOTAK MAHINDRA BANK LIMITED |
25/07/2011 |
10/12/2013 |
- |
407500000.0 |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI MAHARASHTRA 400021 INDIA |
|
3 |
B97660021 |
10171744 |
UNION BANK OF INDIA |
31/07/2009 |
- |
14/02/2014 |
1650000.0 |
KAPRUBAVADI BRANCH, DHAN LAXMI INDUSTRIAL ESTATEGOKUL NAGAR, OLD AGRA ROAD, THANE (W) THANE MAHARASHTRA 400601 INDIA |
|
4 |
B19949890 |
10131104 |
UNION BANK OF INDIA |
31/10/2008 |
16/05/2011 |
11/08/2011 |
120000000.0 |
KAPRUBAVADI BRANCH, DHAN LAXMI INDUSTRIAL ESTATEGOKUL NAGAR, OLD AGRA ROAD, THANE (W) THANE MAHARASHTRA 400601 INDIA |
|
5 |
B19951748 |
10194826 |
UNION BANK OF INDIA |
30/12/2009 |
- |
11/08/2011 |
244600000.0 |
KAPRUBAVADI BRANCH, DHAN LAXMI INDUSTRIAL ESTATEGOKUL NAGAR, OLD AGRA ROAD, THANE (W) THANE MAHARASHTRA 400601 INDIA |
|
6 |
B19951003 |
10131105 |
UNION BANK OF INDIA |
31/10/2008 |
- |
11/08/2011 |
150000000.0 |
KAPRUBAVADI BRANCH, DHAN LAXMI INDUSTRIAL ESTATEGOKUL NAGAR, OLD AGRA ROAD, THANE (W) THANE MAHARASHTRA 400601 INDIA |
|
7 |
B19953835 |
10292188 |
UNION BANK OF INDIA |
16/05/2011 |
- |
11/08/2011 |
15000000.0 |
KAPRUBAVADI BRANCH, DHAN LAXMI INDUSTRIAL ESTATEGOKUL NAGAR, OLD AGRA ROAD, THANE (W) THANE MAHARASHTRA 400601 INDIA |
|
8 |
B19952795 |
10196167 |
UNION BANK OF INDIA |
30/12/2009 |
23/06/2011 |
11/08/2011 |
339600000.0 |
KAPRUBAVADI BRANCH, DHAN LAXMI INDUSTRIAL ESTATEGOKUL NAGAR, OLD AGRA ROAD, THANE (W) THANE MAHARASHTRA 400601 INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Other money for which company is contingently liable |
9.766 |
1.000 |
|
Total |
9.766 |
1.000 |
FIXED ASSETS
· Land
· Factory Buildings
· Plant and Machinery
· Furniture and Fixture
· Vehicle
· Office Equipment
· Computer
· Electrical Fittings
· Computer Software
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 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 63.35 |
|
UK Pound |
1 |
INR 85.89 |
|
Euro |
1 |
INR 76.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·