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|
|
MIRA INFORM REPORT
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Report No. : |
485481 |
|
Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
KANADE ANAND UDYOG PRIVATE LIMITED |
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|
|
Registered
Office : |
Kanade House, Plot No. 148, Inside Sahar
Cargo Estate, D.P. Road, J.B. Nagar, Andheri (East), Mumbai-400099,
Maharashtra |
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Tel. No.: |
91-22-28202841/42/43/44 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
12.07.2005 |
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Com. Reg. No.: |
11-154724 |
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Capital
Investment / Paid-up Capital : |
INR 19.398 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U27100MH2005PTC154724 |
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IEC No.: |
0305068598 |
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GSTIN: |
27AACCK6061E1ZP |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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TIN No.: |
27560564277V |
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CST No.: |
27560564277C |
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Central Excise
Registration Number: |
AACCK6061EXM003 |
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Service Tax
Registration Number: |
AACCK6061EST001 |
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PAN No.: [Permanent Account No.] |
AACCK6061E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of fabricated structural steel, floor gratings, cable trays,
cable support system, cable management system, welded wire mesh, electro
forged gratings, G I structures, earthing materials with own galvanizing
plant. (Registered Activity and also Confirmed by Management) |
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|
|
|
No. of Employees
: |
200 (Approximately) |
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 |
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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 2005 and it is having moderate track. It is engaged in manufacturing of fabricated structural steel, floor gratings, cable trays, cable support system, cable management system, welded wire mesh, electro forged gratings, G I structures, earthing materials with own galvanizing plant. As per the available financials of 2017, the company has reported decline in its revenue as compared to its previous year and has incurred heavy operating losses during the year. Further, the company possesses average financial risk profile marked by high debt level profile and low cash accruals. Rating gets constrained on account of losses incurred which has resulted into low reserve level along with high working capital requirement nature of business and its presence in highly competitive industry. However, these rating weakness gets partially offset by its strong relations with its customer “Thermax Limited Pune (B & H Solid Fuel SBV)” and “Praj Industries Limited” both companies claimed that they are satisfied with the subject’s product quality and delivery behaviour as well its supplier “Indu Corporation Private Limited” and “Multi Steel Industries”, both the companies are satisfied with their payment behaviour and market goodwill of the subject. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some caution. |
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 11.01.2018
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 PARTED BY
|
Name : |
Mr. Milind Lendhe |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-9892305475 |
|
Date : |
10.01.2018 |
LOCATIONS
|
Registered Office : |
Kanade House, Plot No. 148, Inside Sahar Cargo Estate, D. P. Road, J. B.
Nagar, Andheri (East), Mumbai-400099, Maharashtra, India |
|
Tel. No.: |
91-22-28202841/ 42/43/ 44 |
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Mobile No.: |
91-9820315257 (Mr. Jayant) |
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Fax No.: |
91-22-28202839 |
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E-Mail : |
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Website : |
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Area: |
2000 Sq. Ft. |
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Location : |
Owned |
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Locality : |
Commercial |
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Factory : |
E-45 / E-46 / E-47 / E-48, Anandnagar MIDC, Ambarnath
(East), District Thane - 421501, Maharashtra, India |
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Tel. No.: |
91-251-2620147 |
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Fax No. |
91-251-2620147 |
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|
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Chennai Office: |
B2-21, Moon Enclave Apartment, 6th Main Road, ERI Scheme, West Mogappair, Chennai-600 037,Tamilnadu, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sunil Bhikaji Kanade |
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Designation : |
Director |
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Address : |
A-10, Sarvoday Co. Operative Society, Shiv Surutri, Kurla (East), Mumbai - 400024, Maharashtra, India |
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Date of Birth/Age : |
03.08.1960 |
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Date of Appointment : |
25.08.2007 |
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DIN No.: |
00978343 |
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Name : |
Mr. Dinanath Bhikaji Kanade |
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Designation : |
Director |
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Address : |
C / 314, Jumbo Darshan, Koldongri, Mumbai -400069, Maharashtra, India |
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Date of Birth/Age : |
22.01.1944 |
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Date of Appointment : |
12.07.2005 |
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DIN No.: |
00978387 |
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Name : |
Mr. Ashok Bhikaji Kanade |
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Designation : |
Director |
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Address : |
3/12, Podar Building No. 2, Dr Maisheri Road, Mumbai- 400009 , Maharashtra, India |
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Date of Birth/Age : |
05.12.1951 |
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Date of Appointment : |
12.07.2005 |
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DIN No.: |
02490067 |
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KEY EXECUTIVES
|
Name : |
Mr. Milind Lendhe |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Dinanath Bhikaji Kanade |
786754 |
|
Sunil Bhikaji Kanade |
786753 |
|
Kanade Aqua Farm Private Limited |
284193 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2015
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
82.05 |
|
Promoters (Body corporate) |
16.38 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
0.44 |
|
Public/Other than promoters (Body corporate) |
1.13 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of fabricated structural steel, floor gratings, cable
trays, cable support system, cable management system, welded wire mesh, electro
forged gratings, G I structures, earthing materials with own galvanizing
plant. (Registered Activity and also Confirmed by Management) |
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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 : |
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Products : |
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Countries : |
Middle East |
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Imports : |
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Products : |
Machinery Parts |
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Countries : |
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Terms : |
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Selling : |
L/C, Advance Payment, Cheque, RTGS and NEFT |
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Purchasing : |
L/C, Advance Payment and RTGS, NEFT |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Manufacturers and Others (EPS Contractors)
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Bhuwania and Agrawal Associates Chartered Accountants |
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Address : |
503/505, J S Seth Road, 1st Floor, Chira Baazar,
Mumbai-400002, Maharashtra, India |
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Tel No.: |
91-22-22054634/22063774 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other Related Parties (As on 2016) |
·
Kanade Granites Private Limited ·
Kanade Aqua Farm Private Limited ·
Jayant Roadlines ·
AI Kiyumi Global LLC |
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Associates/Subsidiary (As on
2016) (As confirmed by management) |
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CAPITAL STRUCTURE
As on 31.03.2017
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 |
|
|
|
|
|
|
1939800 |
Equity Shares |
INR 10/- each |
INR 19.398
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 |
19.398 |
19.398 |
19.398 |
|
(b) Reserves & Surplus |
55.186 |
198.020 |
191.222 |
|
(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) |
74.584 |
217.418 |
210.620 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
55.750 |
57.947 |
91.539 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
55.750 |
57.947 |
91.539 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
338.251 |
304.294 |
430.381 |
|
(b) Trade payables |
139.153 |
120.876 |
121.223 |
|
(c) Other current liabilities |
108.001 |
118.283 |
213.156 |
|
(d) Short-term provisions |
0.000 |
1.800 |
1.911 |
|
Total
Current Liabilities (4) |
585.405 |
545.253 |
766.671 |
|
|
|
|
|
|
TOTAL |
715.739 |
820.618 |
1068.830 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
92.397 |
110.600 |
186.583 |
|
(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 |
144.031 |
144.030 |
172.843 |
|
(c) Deferred tax assets (net) |
6.122 |
5.132 |
2.636 |
|
(d) Long-term Loan and Advances |
112.304 |
99.914 |
61.997 |
|
(e) Other Non-current assets |
5.536 |
6.004 |
10.858 |
|
Total
Non-Current Assets |
360.390 |
365.680 |
434.917 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
49.792 |
104.119 |
358.026 |
|
(c) Trade receivables |
97.737 |
194.918 |
145.588 |
|
(d) Cash and cash equivalents |
1.819 |
12.880 |
2.193 |
|
(e) Short-term loans and
advances |
206.001 |
143.021 |
128.106 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
355.349 |
454.938 |
633.913 |
|
|
|
|
|
|
TOTAL |
715.739 |
820.618 |
1068.830 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
574.041 |
643.793 |
441.110 |
|
|
Other Income |
1.758 |
298.845 |
2.010 |
|
|
TOTAL
|
575.799 |
942.638 |
443.120 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
433.699 |
588.530 |
295.124 |
|
|
Purchases of Trading material |
1.744 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
44.297 |
116.293 |
(17.036) |
|
|
Employees benefits expense |
25.569 |
24.391 |
25.980 |
|
|
Other expenses |
96.758 |
85.667 |
44.084 |
|
|
Prior Period Expenses |
0.010 |
0.000 |
0.000 |
|
|
Extraordinary Items |
21.368 |
0.000 |
0.000 |
|
|
TOTAL |
623.445 |
814.881 |
348.152 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(47.646) |
127.757 |
94.968 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
69.846 |
91.186 |
89.583 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(117.492) |
36.571 |
5.385 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
19.746 |
25.420 |
21.637 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(137.238) |
11.151 |
(16.252) |
|
|
|
|
|
|
|
Less |
TAX |
5.596 |
4.353 |
(0.919) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(142.834) |
6.798 |
(15.333) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
17.815 |
NA |
|
|
TOTAL
EARNINGS |
NA |
17.815 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(73.63) |
3.50 |
(7.90) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
|
|
|
|
Vehicle Loan |
1.164 |
2.091 |
0.000 |
|
Term Loans |
10.131 |
14.192 |
0.000 |
|
Total |
11.295 |
16.284 |
0.000 |
|
Cash from Operating Activities |
42.072 |
155.685 |
89.329 |
|
Net Cash from Operating Activities |
36.412 |
148.725 |
91.240 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
62.15 |
110.51 |
120.47 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.87 |
3.30 |
3.03 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
116.64 |
74.97 |
149.92 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(0.96) |
1.23 |
0.27 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(0.52) |
1.16 |
0.51 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.91 |
0.75 |
0.80 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
5.43 |
1.74 |
2.48 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
7.85 |
2.51 |
3.64 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.24 |
0.51 |
0.89 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(0.68) |
1.40 |
1.06 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(24.88) |
1.06 |
(3.48 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(19.96) |
0.83 |
(1.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(191.51) |
3.13 |
(7.28 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.61 |
0.83 |
0.83 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.52 |
0.64 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.10 |
0.26 |
0.20 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
20.89 |
19.51 |
26.91 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.61 |
0.83 |
0.83 |
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 |
19.398 |
19.398 |
19.398 |
|
Reserves & Surplus |
191.222 |
198.020 |
55.186 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
210.620 |
217.418 |
74.584 |
|
|
|
|
|
|
long-term borrowings |
91.539 |
57.947 |
55.750 |
|
Short term borrowings |
430.381 |
304.294 |
338.251 |
|
Current maturities of
long-term debts |
0.000 |
16.284 |
11.295 |
|
Total
borrowings |
521.920 |
378.525 |
405.296 |
|
Debt/Equity
ratio |
2.478 |
1.741 |
5.434 |
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 |
441.110 |
643.793 |
574.041 |
|
|
|
45.948 |
(10.835) |
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 |
441.110 |
643.793 |
574.041 |
|
Profit/ (Loss) |
(15.333) |
6.798 |
(142.834) |
|
|
(3.48%) |
1.06% |
(24.88%) |
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 |
Yes |
|
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) |
Yes |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
Yes |
|
19] |
Major customers |
Yes |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
Yes |
|
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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Long term loans |
|
|
|
From Banks |
55.251 |
56.304 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
from Directors and Relatives |
1.581 |
5.097 |
|
from Others |
7.586 |
6.509 |
|
Total |
64.418 |
67.91 |
|
|
|
|
|
Note: Long-term
Borrowings Unsecured Loan from Kotak Mahindra Bank of INR 3.622 million and Current Maturities of INR 0.726 million is loan against property (Mortagae Loan), and secured against the property of one of the directors which is repayable in equal monthly installments of INR 0.102 million starting from July 2011 and ending in Nov 2021 with tenure of 120 Month. |
||
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
C34770313 |
10533072 |
Indian Overseas Bank |
18/10/2014 |
- |
12738062.0 |
NARIMAN POINT BRANCH, BAKHTAWAR BUILDING NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
2 |
C11163037 |
10508855 |
L & T FINANCE LIMITED |
16/07/2014 |
- |
4800000.0 |
L&T HOUSE,BALLARD ESTATE, MUMBAI MAHARASHTRA 400001 INDIA |
|
3 |
B76494632 |
10429533 |
Oriental Bank of Commerce |
29/04/2013 |
- |
500000.0 |
OVERSEAS BRANCH, DALAMAL TOWER GROUND FLOOR, NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
4 |
B78948163 |
10384954 |
Canara Bank |
11/09/2012 |
13/05/2013 |
70000000.0 |
MANDVI BRANCH, SUJEER HOUSE,74, 76, KAZI SAYAD STREET, MUMBAI MAHARASHTRA 400003 INDIA |
|
5 |
B60250594 |
10381959 |
INDIAN OVERSEAS BANK |
24/08/2012 |
- |
40000000.0 |
NARIMAN POINT BRANCH, BAKHTAWAR BUILDING NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
6 |
B34623504 |
10341320 |
INDIAN OVERSEAS BANK |
07/03/2012 |
- |
40000000.0 |
NARIMAN POINT BRANCH, BAKHTAWAR BUILDING NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
7 |
B12101465 |
10285189 |
CANARA BANK |
28/03/2011 |
- |
50000000.0 |
MANDAVI MUMBAI MAHARASHTRA 400003 INDIA |
|
8 |
A83960070 |
10217191 |
INDIAN OVERSEAS BANK |
15/03/2010 |
- |
10000000.0 |
NARIMAN POINT BRANCH, BAKHTAWAR BUILDING NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
9 |
A91205153 |
10217192 |
INDIAN OVERSEAS BANK |
15/03/2010 |
14/06/2010 |
56000000.0 |
NARIMAN POINT BRANCH, BAKHTAWAR BUILDING NARIMAN POINT MUMBAI MAHARASHTRA 400021 INDIA |
|
10 |
A80933039 |
10206484 |
CANARA BANK |
08/02/2010 |
- |
30000000.0 |
SUJEER HOUSE, 74/76 KAZI SYED STREET, MANDVI BRANCH MUMBAI MAHARASHTRA 400003 INDIA |
FIXED ASSETS
- Land
- Buildings
- Furniture and
Fixtures
- Computers
- Plant and
Machinery
- Vehicle
- Office
Equipment’s
- Factory
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 63.39 |
|
|
1 |
INR 85.74 |
|
Euro |
1 |
INR 76.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
POON |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
YES |
|
--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.