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|
MIRA INFORM REPORT
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Report No. : |
484723 |
|
Report Date : |
09.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SPERRY PLAST LIMITED |
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Registered
Office : |
BM House, H - 88 A, Kirti Nagar, New Delhi – 110015 |
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Tel. No.: |
91-11-41424379 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
28.04.1992 |
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Com. Reg. No.: |
55-048504 |
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Capital
Investment / Paid-up Capital : |
INR 140.524 Million |
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CIN No.: [Company Identification
No.] |
U25209DL1992PLC048504 |
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IEC No.: |
Not Divulged |
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GSTIN/UIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACS2623L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing and sales of plastic
granuals (compounding), molding goods (pipe, fitting, eps and others), trading
of injection molding machine and allied services like their installation and
repairs. (Registered Activity) |
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|
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1992 and it is a manufacturer of
plastic granules, molding goods and trader of injection molding machine and allied
services like their installation and repairs. As per Registrar of Companies, the date of balance sheet (i.e.
financial filed) is shown as 31.03.2016 but documents related are not
available from any other sources. As per financials of March 2015, the company has registered a marginal
growth in its revenue but has incurred losses. Rating takes into consideration the company’s moderate financial risk
profile marked by negative reserve along with high debt balance sheet and
below average debt coverage indicators. Payments are reported to be slow. In view of aforesaid, the company can be considered for business
dealings at fully safe and secured terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating – B+ (Issuer Non-
Cooperative) |
|
Rating Explanation |
Risk-prone-credit quality and carries very
high credit risk. |
|
Date |
17.04.2017 |
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|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short-Term Rating – A4 (Issuer Non-
Cooperative) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
17.04.2017 |
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 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 : |
Ms. Meenakshi |
|
Designation : |
Not Divulged |
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Contact No.: |
91-9953799031 |
|
Date : |
05.01.2018 |
LOCATIONS
|
Registered Office : |
BM House, H – 88 A, Kirti Nagar, New Delhi – 110015, India |
|
Tel. No.: |
91-11-41424375/ 41424379 |
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Mobile No.: |
91-9953799031 (Ms. Meenakshi) |
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Fax No.: |
91-11-23515473 |
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E-Mail : |
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Website : |
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Corporate Office : |
Plot No. 16, Udhyog Vihar, Greater Noida – 201306, Uttar Pradesh, India |
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Branch Office 1 : |
Plot No. 3A, Udhyog Vihar, Greater Noida – 201306, Uttar Pradesh, India |
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Regional Offices 1
: |
Lane No-5, EPIP, Bari Brahmana, Jammu – 181133, Jammu and Kashmir, India |
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Regional Offices 2
: |
D-29-31, Footwear
Component Park, Irungattukuttai, Chennai – 602105, Tamilnadu, India |
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Overseas Office: |
Located at :
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Factories : |
Located at:
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Branches/ Depots : |
Located at:
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DIRECTORS
|
Name : |
Mr. Vikram Jain |
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Designation : |
Managing Director |
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Address : |
A - 41 and 42, Kirti Nagar, New Delhi – 110015, India |
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Date of Birth/Age : |
03.10.1969 |
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Date of Appointment : |
28.04.1992 |
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DIN No.: |
00110704 |
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Other Directorship:
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Name : |
Mr. Chander Mohan Gandhi |
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Designation : |
Director |
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Address : |
House No.1, Road No.19 East, Punjabi Bagh, New Delhi – 110026, India |
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Date of Birth/Age : |
24.12.1946 |
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Date of Appointment : |
30.09.2014 |
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DIN No.: |
00386997 |
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Other Directorship:
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Name : |
Mr. Daljit Singh Bhatia |
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Designation : |
Director |
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Address : |
E-32D, Block-E, Rajouri Garden, New Delhi – 110027, India |
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Date of Birth/Age : |
02.01.1953 |
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Date of Appointment : |
30.09.2014 |
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DIN No.: |
01079613 |
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Other Directorship:
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Name : |
Mr. Hemanshu Shah |
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Designation : |
Director |
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Address : |
RN 36, 4th Floor, New Mumbadevi CHS 48, Khadilkar Road,
Girgaum, Mumbai - 400004, Maharashtra,
India |
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Date of Birth/Age : |
18.02.1973 |
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Date of Appointment : |
07.04.2008 |
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DIN No.: |
02092440 |
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Name : |
Mr. Arjun Singh |
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Designation : |
Director |
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Address : |
H No-14 Laxmi Nagar, Bagat Singh Colony, New Mohanpura,
Delhi Highway, Haridwar Roorkee -
247667, Uttarkhand, India |
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Date of Birth/Age : |
17.09.1973 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
06450016 |
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Other Directorship:
|
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KEY EXECUTIVE
|
Name : |
Mr. Rakesh Bisht |
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Designation : |
Company Secretary |
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Address : |
214, Sector-17D, Vasundhara, Ghaziabad – 201012, Uttar Pradesh, India |
|
Date of Appointment : |
23.08.2017 |
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PAN No.: |
AMBPB3621R |
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|
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|
Name : |
Ms. Pradipta Kishore Panigrahi |
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Designation : |
Chief Executive Officer |
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Address : |
Flat No.1507, Mahaluxmi Green Mansion, HRA 14, Site-C, Surajpur, Gautam Buddha Nagar, Surajpur - 201306, Uttar Pradesh, India |
|
Date of Appointment : |
28.09.2017 |
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PAN No.: |
AMMPP4806B |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
No. of Shares |
|
Vikram Jain |
14174026 |
|
Nayana Jain |
1421900 |
|
Nawal Mal Jain |
551447 |
|
Damyanti Jain |
821820 |
|
Uttar Bharat Neel Manufacturing Company Private Limited |
501532 |
|
CM Gandhi |
10 |
|
Sharda Gandhi |
10 |
|
Seema Gandhi |
10 |
|
Chaya Gandhi |
10 |
|
Pan Asia Developers Private Limited |
281620 |
|
Sperry Real Estate |
360000 |
|
Rishabh Jain |
80000 |
|
Maulik Trading Enterprises |
250000 |
|
Mayurika Management Services Private Limited |
250000 |
|
Stabilitas Estate Private Limited |
250000 |
|
Saunak Technologies Private Limited |
250000 |
|
Capacious Tradex Private Limited |
500000 |
|
Alight Tradex Private Limited |
500000 |
|
Total |
20192385 |
AS ON 30.09.2016
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Individual/Hindu Undivided Family – Indian] |
86.92 |
|
Public/Other than promoters -[Bodies corporate] |
13.08 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and sales of plastic
granuals (compounding), molding goods (pipe, fitting, eps and others), trading
of injection molding machine and allied services like their installation and
repairs. (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 : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
G S K and Associates LLP Chartered Accountants |
|
Address : |
8, 1st Floor, Rani Jhansi Road, Motia Khan Industrial Area , New Delhi -110055, India |
|
PAN No.: |
AADFG5824B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives (As on 31.03.2015) |
|
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|
|
|
Subsidiary Companies : (As on 31.03.2015) |
|
CAPITAL STRUCTURE
AS ON 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23000000 |
Equity Shares |
INR 10/- each |
INR 230.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20192385 |
Equity Shares |
INR 10/- each |
INR 201.924 Million |
|
|
|
|
|
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14052385 |
Equity Shares |
INR 10/- each |
INR 140.524 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
140.524 |
88.673 |
85.857 |
|
(b) Reserves &
Surplus |
(81.377) |
90.369 |
418.732 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
8.600 |
40.102 |
|
Total Shareholders’ Funds
(1) + (2) |
59.147 |
187.642 |
544.691 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1245.842 |
627.204 |
571.625 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
89.025 |
|
(c) Other long term
liabilities |
2.864 |
2.161 |
1.980 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1248.706 |
629.365 |
662.630 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
509.451 |
744.043 |
722.517 |
|
(b) Trade payables |
599.335 |
482.311 |
450.292 |
|
(c) Other current
liabilities |
98.767 |
179.496 |
174.984 |
|
(d) Short-term provisions |
0.247 |
0.215 |
4.950 |
|
Total Current Liabilities
(4) |
1207.800 |
1406.065 |
1352.743 |
|
|
|
|
|
|
TOTAL |
2515.653 |
2223.072 |
2560.064 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1126.112 |
1088.693 |
1079.860 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
70.379 |
57.329 |
38.832 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.219 |
10.254 |
10.697 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1212.710 |
1156.276 |
1129.389 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
443.282 |
408.783 |
571.787 |
|
(c) Trade receivables |
501.657 |
488.554 |
518.689 |
|
(d) Cash and cash
equivalents |
204.159 |
48.269 |
52.395 |
|
(e) Short-term loans and
advances |
147.305 |
114.650 |
281.286 |
|
(f) Other current assets |
6.540 |
6.540 |
6.518 |
|
Total Current Assets |
1302.943 |
1066.796 |
1430.675 |
|
|
|
|
|
|
TOTAL |
2515.653 |
2223.072 |
2560.064 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
2248.330 |
2216.198 |
2503.395 |
|
|
Other Income |
53.555 |
14.159 |
12.151 |
|
|
TOTAL |
2301.885 |
2230.357 |
2515.546 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1834.593 |
1756.652 |
1974.922 |
|
|
Purchases of Stock-in-Trade |
42.868 |
16.875 |
41.916 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(41.154) |
218.979 |
(2.996) |
|
|
Employees benefits
expense |
111.432 |
105.048 |
53.865 |
|
|
Other expenses |
222.197 |
256.713 |
256.780 |
|
|
Prior period item before
tax |
0.451 |
0.000 |
0.000 |
|
|
TOTAL |
2170.387 |
2354.267 |
2324.487 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
131.498 |
(123.910) |
191.059 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
226.818 |
249.065 |
124.362 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(95.320) |
(372.975) |
66.697 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
|
70.160 |
57.506 |
41.085 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(165.480) |
(430.481) |
25.612 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(89.025) |
14.685 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(165.480) |
(341.456) |
10.927 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
168.715 |
131.528 |
89.335 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(16.93) |
(38.81) |
1.38 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
19.400 |
70.343 |
63.024 |
|
Net cash flow from (used in) operations |
(322.567) |
40.141 |
114.548 |
|
Net cash flow from operating activities |
(117.734) |
276.635 |
150.358 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
81.44 |
80.46 |
75.63 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
4.48 |
4.54 |
4.83 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
116.52 |
99.26 |
81.49 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.30 |
(0.30) |
0.33 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.12 |
(0.11) |
0.18 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.98 |
0.95 |
0.78 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
30.00 |
7.68 |
2.49 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
20.42 |
7.49 |
2.48 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
19.04 |
5.80 |
1.98 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.58 |
(0.50) |
1.54 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
(7.36) |
(15.41) |
0.44 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(6.58) |
(15.36) |
0.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(279.78) |
(181.97) |
2.01 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.08 |
0.76 |
1.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.71 |
0.47 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.02 |
0.08 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
12.63 |
16.26 |
15.81 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.08 |
0.76 |
1.06 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
85.857 |
88.673 |
140.524 |
|
Reserves & Surplus |
418.732 |
90.369 |
-81.377 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
40.102 |
8.600 |
0.000 |
|
Net
worth |
544.691 |
187.642 |
59.147 |
|
|
|
|
|
|
long-term borrowings |
571.625 |
627.204 |
1245.842 |
|
Short term borrowings |
722.517 |
744.043 |
509.451 |
|
Current Maturities of Long
term debt |
63.024 |
70.343 |
19.400 |
|
Total
borrowings |
1357.166 |
1441.590 |
1774.693 |
|
Debt/Equity
ratio |
2.492 |
7.683 |
30.005 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
2503.395 |
2216.198 |
2248.330 |
|
|
|
(11.472) |
1.450 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
2503.395 |
2216.198 |
2248.330 |
|
Profit/(Loss) |
10.927 |
(341.456) |
(165.480) |
|
|
0.44% |
(15.41)% |
(7.36)% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
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 |
No |
|
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 |
CORPORATE INFORMATION
(As on 31.03.2015)
The company is incorporated under the company’s act, 1956 as a public limited company in which public are not substantially interested. It is engaged in manufacturing and sales of plastic granuals (compounding), molding goods (pipe, fitting, eps and others), trading of injection molding machine and allied services like their installation and repairs. The company has its factories at bahadurgarh (Haryana), greater Noida (u.p.) Jammu, Chennai (Tamilnadu) and has branches /depot effecting sales at Pune, Delhi by itself. Registered office of the company is situated at New Delhi.
RESULTS OF OPERATIONS
AND THE STATE OF COMPANY’S AFFAIRS (As on 31.03.2015)
The company has performed below the targeted results in terms of turnover and profitability despite of its best efforts. However the management is assure in itself that the better result will come in future keeping in view that Sperry Plast Limited is one of the largest manufacturer of expandable polystyrene, CPVC Pipes and Fittings and Thermo Plastic Rubber Compounds in India. The company has achieved the gross turnover of INR 2248.330 million during the financial year 2014-15 with net worth of Company is INR 59.146 million
UNSECURED LOANS:
|
Unsecured Loan |
31.03.2015 INR In Million |
31.03.2014 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Rupees term loans
from others |
411.056 |
434.638 |
|
Total |
411.056 |
434.638 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C22677561 |
10376502 |
State Bank of India |
30/07/2012 |
02/08/2014 |
- |
197500000.0 |
Industrial Complex Branch, Bahadurgarh – 124507, Haryana, India |
|
2 |
G48109086 |
90043507 |
State Bank of India |
21/08/2002 |
15/10/2016 |
- |
1801900000.0 |
Industrial Complex Branch, Bahadurgarh – 124507, Haryana, India |
|
3 |
C38527958 |
10249505 |
Kotak Mahindra Bank Limited |
30/10/2010 |
26/05/2012 |
16/12/2014 |
114250000.0 |
36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
4 |
B04657805 |
10207230 |
Kotak Mahindra Bank Limited |
19/02/2010 |
- |
26/11/2010 |
80000000.0 |
36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
5 |
A24467037 |
80036799 |
Haryana Financial Corporation |
31/12/1997 |
- |
15/10/2007 |
902700.0 |
Sector 17, chandigarh -160017, India |
|
6 |
A24465445 |
80036800 |
The Haryana Financial Corporation |
17/05/1995 |
31/01/2000 |
15/10/2007 |
15831000.0 |
Sector 17, chandigarh -160017, India |
FIXED ASSETS:
- Land
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other 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 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 63.34 |
|
|
1 |
INR 85.88 |
|
Euro |
1 |
INR 76.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYA |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
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 |
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.