|
|
|
MIRA INFORM REPORT
|
Report No. : |
485142 |
|
Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
STANDARD GREASES AND SPECIALITIES PRIVATE LIMITED (w.e.f. 11.09.2009) |
|
|
|
|
Formerly Known
As : |
STANDARD GREASES (SILVASSA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
101, Ketan Apartments, 233, R.B. Mehta Marg, Ghatkopar (East), Mumbai
– 400077, Maharashtra |
|
Tel. No.: |
91-22-25013641 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
01.10.2007 |
|
|
|
|
Com. Reg. No.: |
11-174642 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 105.904 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23201MH2007PTC174642 |
|
|
|
|
IEC No.: |
0300004699 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALCS2136B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Automotive Industrial Greases and Specialities. (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2007 having
fine track record. For the financial year ended 2017, the company has witnessed a growth in
its revenue and has achieved decent profit margin at 10.69% (approx.) The rating reflects company’s strong financial profile supported by
its healthy net worth base along with negligible debt recorded by the
company. Fundamentals of the company are strong and healthy. Trade relations are fair. Business is active. Payments are regular and
as per commitment. In view of aforesaid, the company can be considered good for normal
business dealings at usual trade 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.
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 DENIED
MANAGEMENT NON-COOPERATIVE: Tel. No.: 91-22-25013641 / 46
LOCATIONS
|
Registered Office : |
101, Ketan Apartments, 233, R.B. Mehta Marg, Ghatkopar (East), Mumbai –
400077, Maharashtra, India |
|
Tel. No.: |
91-22-25013641 |
|
Fax No.: |
91-22-25010384 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
C-60, TTC Industrial Area, MIDC Turbhe, Navi Mumbai – 400613, Maharashtra, India |
|
|
|
|
Factory 2 : |
Silvassa Unit, 82/2, Khadoli, Silvassa – 396230, Union Territory of Dadra and Nagar Haveli, India |
|
Tel. No.: |
91-260-2699061-4 |
|
Fax No.: |
91-260-2699063 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Also Located At: Tarapur |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Vinod Somalal Vyas |
|
Designation : |
Director |
|
Address : |
Flat No.903, Nandadevi, Neelkanth Valley, 7 Rajawadi Road, Ghatkopar
(East), Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1950 |
|
Qualification : |
B.Sc |
|
Date of Appointment : |
01.10.2007 |
|
PAN No.: |
AAAPV8304L |
|
DIN No.: |
00176206 |
|
|
|
|
Name : |
Mr. Durgesh Sanjivrao Chandavarkar |
|
Designation : |
Director |
|
Address : |
502, Sea Nymph, Green Field Estate, A B Nair Road, Mumbai - 400049,
Maharashtra, India |
|
Date of Birth/Age : |
07.02.1942 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.10.2007 |
|
DIN No.: |
00176277 |
|
PAN No.: |
AABPC5818P |
|
|
|
|
Name : |
Mr. Vijay Chunilal Vyas |
|
Designation : |
Director |
|
Address : |
I-8, Mahendra Vhila-105, Tilak Road (East), Ghatkopar
(East), Mumbai -400077, Maharashtra, India |
|
Date of Birth/Age : |
30.07.1959 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
05.10.2007 |
|
DIN No.: |
00176656 |
|
|
|
|
Name : |
Mr. Nirmal Ramdas Ruparel |
|
Designation : |
Director |
|
Address : |
202, A2A, Mahdendra Park, Palghar Road, Boisar, MIDC Tarapur, Thane –
401501, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1954 |
|
Qualification : |
M.Sc. |
|
Date of Appointment : |
05.10.2007 |
|
DIN No.: |
00176838 |
|
PAN No.: |
AABPR1227K |
|
|
|
|
Name : |
Mr. Dhruv Somalal Vyas |
|
Designation : |
Director |
|
Address : |
701A, Kukreja Palace, Valabh Baug Extension Lane, Ghatkopar (East),
Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
22.06.1959 |
|
Qualification : |
B.Sc. |
|
Date of Appointment : |
05.10.2007 |
|
DIN No.: |
00177088 |
|
|
|
|
Name : |
Mr. Haresh Somalal Vyas |
|
Designation : |
Director |
|
Address : |
Block No.23A, Sindhu Baug, Tilak Road, Ghatkopar (East), Mumbai -
400077, Maharashtra, India |
|
Date of Birth/Age : |
05.11.1955 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.10.2007 |
|
DIN No.: |
00181054 |
|
PAN No.: |
AAAPV8093N |
|
|
|
|
Name : |
Mr. Ketan Vyas Vinod |
|
Designation : |
Director |
|
Address : |
Flat No.903, Nandadevi, Neelkanth Valley, 7 Rajawadi Road, Ghatkopar
(East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
21.06.1974 |
|
Qualification : |
B.Com, D.B.M. |
|
Date of Appointment : |
05.10.2007 |
|
DIN No.: |
00181237 |
|
|
|
|
Name : |
Mr. Bharat Chunilal Vyas |
|
Designation : |
Director |
|
Address : |
H.NO.1-25 26, Shankar Nagar, Tilak Road, Ghatkkopar,
Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
08.04.1961 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
05.10.2007 |
|
DIN No.: |
00182259 |
|
|
|
|
Name : |
Mr. Kapil Vinod Vyas |
|
Designation : |
Director |
|
Address : |
Flat No.903, Nandadevi, Neelkanth Valley, 7 Rajawadi Road, Ghatkopar
(East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
21.10.1978 |
|
Qualification : |
B.Sc.,MBA |
|
Date of Appointment : |
05.10.2007 |
|
DIN No.: |
00486031 |
|
PAN No.: |
AAEPV8991P |
KEY EXECUTIVES
|
Name : |
Mr. Nirupama Varadarajan |
|
Designation : |
Company Secretary |
|
Address : |
36 A, 44, Vrindavan Society, Thane (West),
Thane – 400601, Maharashtra, India |
|
Date of Appointment : |
07.11.2014 |
|
PAN No.: |
AEGPV4279Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Bharat C Vyas |
|
954625 |
|
Bindu V Vyas |
|
143142 |
|
Dhruv S Vyas |
|
1384960 |
|
Ila H Vyas |
|
308830 |
|
Kapil Vinod Vyas |
|
636950 |
|
Ketan Vyas Vinod |
|
652542 |
|
Kundan B Vyas |
|
92103 |
|
Nandini D Chandavarkar |
|
911526 |
|
Nirmal R Ruparel |
|
319008 |
|
Sunita S Ruparel |
|
1 |
|
Vinod S Vyas |
|
1652732 |
|
Durgesh S Chandavarkar |
|
1435088 |
|
Haresh S Vyas |
|
1261422 |
|
Vijay C Vyas |
|
380359 |
|
Hemangini D Vyas |
|
33720 |
|
Manjula S Vyas |
|
132360 |
|
Chahya V Vyas |
|
184680 |
|
Priya D Chandavarkar |
|
67300 |
|
Jiten G Goswami |
|
1 |
|
Pradyumna Goswami |
|
1 |
|
Vinod Shah |
|
1 |
|
Suketu Trivedi |
|
1 |
|
Bhavna Sudhir Ruparel |
|
1 |
|
Pooja Sudhir Ruparel |
|
1 |
|
Manan Vyas |
|
19207 |
|
Virai Vya |
|
6611 |
|
Ankit Vyas |
|
6611 |
|
Harsheel Vyas |
|
6617 |
|
Total |
|
10590400 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided Family
– Indian) |
96.99 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
3.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Industrial Greases and Specialities. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9117R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
L23209WB1921PLC004357
U23201MH2002PTC138368
U74999GJ1994PLC022829
|
|
|
|
|
Subsidiaries : |
U40107MH2007PTC176232
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
U85199MH1999PTC121686
U67120MH1996PTC100281
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13500000 |
Equity Shares |
INR 10/- each |
INR 135.000 Million |
|
2250000 |
Preference Shares |
INR 10/- each |
INR 22.500 Million |
|
|
|
|
|
|
|
Total |
|
INR 157.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10590400 |
Equity Shares |
INR 10/- each |
INR 105.904
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 |
105.904 |
117.024 |
117.024 |
|
(b) Reserves and Surplus |
3681.500 |
3874.400 |
3335.900 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
3787.404 |
3991.424 |
3452.924 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
1.200 |
11.100 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
1.600 |
0.200 |
0.200 |
|
(d) long-term provisions |
8.400 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
10.000 |
1.400 |
11.300 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
286.000 |
245.900 |
457.600 |
|
(b) Trade
payables |
385.000 |
272.700 |
272.400 |
|
(c) Other
current liabilities |
60.100 |
34.300 |
14.900 |
|
(d) Short-term
provisions |
43.096 |
15.976 |
42.500 |
|
Total Current
Liabilities (4) |
774.196 |
568.876 |
787.400 |
|
|
|
|
|
|
TOTAL |
4571.600 |
4561.700 |
4251.624 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
159.500 |
231.300 |
251.700 |
|
(ii)
Intangible Assets |
1.500 |
1.800 |
0.300 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
82.300 |
80.900 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1698.600 |
1746.800 |
1009.900 |
|
(c) Deferred tax assets (net) |
38.100 |
21.700 |
26.924 |
|
(d)
Long-term loans and advances |
46.300 |
46.200 |
45.500 |
|
(e) Other
Non-current assets |
0.000 |
1.600 |
0.900 |
|
Total Non-Current
Assets |
1944.000 |
2131.700 |
1416.124 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
233.700 |
774.100 |
1005.100 |
|
(b)
Inventories |
697.200 |
438.700 |
499.600 |
|
(c) Trade
receivables |
1194.200 |
833.100 |
866.600 |
|
(d) Cash and
bank balances |
258.400 |
90.600 |
137.100 |
|
(e)
Short-term loans and advances |
244.100 |
293.500 |
327.100 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2627.600 |
2430.000 |
2835.500 |
|
|
|
|
|
|
TOTAL |
4571.600 |
4561.700 |
4251.624 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
8967.500 |
6909.200 |
7470.000 |
|
|
Other Income |
207.300 |
197.200 |
115.000 |
|
|
TOTAL |
9174.800 |
7106.400 |
7585.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
7090.600 |
5637.600 |
6537.000 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
30.400 |
(47.500) |
9.600 |
|
|
Employee benefit expense |
320.100 |
254.300 |
138.200 |
|
|
CSR expenditure |
9.500 |
10.300 |
12.600 |
|
|
Other expenses |
251.800 |
267.500 |
232.400 |
|
|
TOTAL |
7702.400 |
6122.200 |
6929.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1472.400 |
984.200 |
655.200 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
40.300 |
40.000 |
69.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1432.100 |
944.200 |
586.100 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
51.600 |
62.000 |
47.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1380.500 |
882.200 |
538.200 |
|
|
|
|
|
|
|
Less |
TAX |
421.600 |
292.700 |
194.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
958.900 |
589.500 |
343.300 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2648.600 |
2110.100 |
1861.600 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
73.700 |
|
|
Interim Dividend on Equity Shares |
42.400 |
42.400 |
0.000 |
|
|
Tax on Interim Dividend |
8.600 |
8.600 |
0.000 |
|
|
Tax on buy back of preference Shares |
56.500 |
0.000 |
0.000 |
|
|
Proposed Final Dividend on Equity Shares |
0.000 |
0.000 |
21.100 |
|
|
Total |
107.500 |
51.000 |
94.800 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
907.607 |
356.900 |
162.403 |
|
|
TOTAL EARNINGS |
907.607 |
356.900 |
162.403 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1130.900 |
957.600 |
735.357 |
|
|
Capital goods |
0.000 |
9.900 |
0.000 |
|
|
TOTAL IMPORTS |
1130.900 |
967.500 |
735.357 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
90.54 |
55.66 |
32.41 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1.300 |
3.700 |
0.000 |
|
Net cash flows from (used in) operations |
975.000 |
1060.500 |
1309.200 |
|
Net cash flows from (used in) operating activities |
444.600 |
665.300 |
1117.800 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
48.61 |
44.01 |
42.34 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
7.51 |
8.29 |
8.62 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
19.82 |
17.66 |
15.21 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.11 |
2.24 |
1.31 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
9.15 |
3.12 |
1.97 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.17 |
0.13 |
0.19 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.08 |
0.06 |
0.14 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.20 |
0.14 |
0.23 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.04 |
0.08 |
0.10 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
36.54 |
24.61 |
9.48 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
10.69 |
8.53 |
4.60 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
20.98 |
12.92 |
8.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
25.32 |
14.77 |
9.94 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.39 |
4.27 |
3.60 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
2.49 |
3.50 |
2.97 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.83 |
0.87 |
0.81 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.71 |
2.14 |
4.01 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
3.39 |
4.27 |
3.60 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
117.024 |
117.024 |
105.904 |
|
Reserves & Surplus |
3335.900 |
3874.400 |
3681.500 |
|
Net
worth |
3452.924 |
3991.424 |
3787.404 |
|
|
|
|
|
|
Long-term borrowings |
11.100 |
1.200 |
0.000 |
|
Short term borrowings |
457.600 |
245.900 |
286.000 |
|
Current maturities of
long-term debts |
0.000 |
3.700 |
1.300 |
|
Total
borrowings |
468.700 |
250.800 |
287.300 |
|
Debt/Equity
ratio |
0.136 |
0.063 |
0.076 |
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 |
7470.000 |
6909.200 |
8967.500 |
|
|
0.000 |
(7.507) |
29.791 |
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 |
7470.000 |
6909.200 |
8967.500 |
|
Profit/ (Loss) |
343.300 |
589.500 |
958.900 |
|
|
4.60
% |
8.53
% |
10.69
% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
105.904 |
117.024 |
|
(b) Reserves and Surplus |
|
4631.800 |
4642.200 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
4737.704 |
4759.224 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
1.200 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
1.600 |
0.200 |
|
(d) long-term
provisions |
|
8.400 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
10.000 |
1.400 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
286.000 |
245.900 |
|
(b) Trade
payables |
|
385.800 |
272.800 |
|
(c) Other
current liabilities |
|
60.096 |
34.276 |
|
(d) Short-term
provisions |
|
43.100 |
16.000 |
|
Total Current
Liabilities (4) |
|
774.996 |
568.976 |
|
|
|
|
|
|
TOTAL |
|
5522.700 |
5329.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
159.800 |
244.600 |
|
(ii)
Intangible Assets |
|
1.500 |
1.800 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
82.300 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
2645.900 |
2499.900 |
|
(c) Deferred tax assets (net) |
|
38.000 |
21.700 |
|
(d)
Long-term loans and advances |
|
46.300 |
89.700 |
|
(e) Other Non-current
assets |
|
0.000 |
1.600 |
|
Total Non-Current
Assets |
|
2891.500 |
2941.600 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
233.700 |
774.100 |
|
(b)
Inventories |
|
697.200 |
438.700 |
|
(c) Trade
receivables |
|
1194.200 |
833.100 |
|
(d) Cash and
bank balances |
|
262.000 |
94.500 |
|
(e)
Short-term loans and advances |
|
244.100 |
247.600 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
2631.200 |
2388.000 |
|
|
|
|
|
|
TOTAL |
|
5522.700 |
5329.600 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
8967.500 |
6909.200 |
|
|
Other Income |
|
60.000 |
107.000 |
|
|
TOTAL |
|
9027.500 |
7016.200 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
7090.600 |
5637.600 |
|
|
Purchases of
Stock-in-Trade |
|
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
30.400 |
(47.500) |
|
|
Employee benefit expense |
|
320.100 |
254.300 |
|
|
CSR expenditure |
|
9.500 |
10.300 |
|
|
Other expenses |
|
309.000 |
253.900 |
|
|
TOTAL |
|
7759.600 |
6108.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
1267.900 |
907.600 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
40.300 |
40.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1227.600 |
867.600 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
51.600 |
62.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
1176.000 |
805.600 |
|
|
|
|
|
|
|
Less |
TAX |
|
422.300 |
292.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
753.700 |
512.900 |
|
|
|
|
|
|
|
|
Profit (loss) of minority
interest |
|
0.000 |
0.000 |
|
|
Share of profit (loss) of
associates |
|
387.700 |
287.500 |
|
|
Total profit (loss) for
period |
|
1141.400 |
800.400 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
|
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
71.17 |
43.83 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
INDUSTRY OUTLOOK AND
FUTURE PROSPECTS
Economic growth is projected to remain strong and India will remain the fastest-growing G20 economy. The increases in public wages and pensions will support consumption. Private investment will recover gradually as excess capacity diminishes.
As per the latest OECD Interim Economic outlook, In 2017-18, India’s growth is forecast to be 6.7% compared to June projection of 7.3%. The report said that in India, “the transitory effects of demonetisation and of the implementation of the GST have led to a downward revision in 2017 growth projections, while business investment has remained weak”. In the longer run, the GST is expected to boost investment, productivity and growth, it added. As such presently India being one of the brightest spots in the Global economy; it has restored faith for foreign investors.
India is an important market for the lubricant industry world-wide, contributing to 6% of global automotive lubricants demand and over 4% of industrial lubricants demand. Ranking third after the United States and China, India remains one of the most important lubricant markets. However the volume consumption of lubricants in India has consistently declined over past few years as a result of improving lubricant and engine quality. The per capita lubricant consumption in India is also quite low compared to other developed countries.
With an overall growth in Indian economy, the growth in lubricant industry is expected to remain healthy. Incoming year, the Directors expect the company to continue its focus on core strategies and line of Business. Accordingly, it is anticipated that the Company will continue to grow in future.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and advances from directors |
286.000 |
245.900 |
|
|
|
|
|
Total |
286.000 |
245.900 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
C30592745 |
10234477 |
KOTAK MAHINDRA BANK LIMITED |
27/07/2010 |
29/09/2014 |
- |
540000000.0 |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
2 |
G09476086 |
10159296 |
KOTAK MAHINDRA BANK LIMITED |
05/05/2009 |
01/08/2016 |
- |
480000000.0 |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
4 |
C22496301 |
10113347 |
ICICI BANK LIMITED |
29/02/2008 |
- |
25/07/2014 |
126000000.0 |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA – 390015, GUJARAT, INDIA |
|
3 |
G10212561 |
10087071 |
Citi Bank N.A. |
01/10/2007 |
01/08/2016 |
- |
640000000.0 |
TRENT HOUSE, 2ND FLOOR, G BLOCKPLOT NO.C 60 BANDRA KURLA COMPLEX, BANDRA (EAST), Mumbai – 400051, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against the
company not acknowledge as debts: |
|
|
|
Excise duty matters in dispute or under appeal |
767.600 |
578.200 |
|
Income Tax matters in dispute or under appeal |
58.500 |
51.000 |
|
Vat/sales tax matters in dispute or under appeal |
7.800 |
5.300 |
|
Bank guarantees |
0.000 |
12.700 |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- 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 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 63.46 |
|
|
1 |
INR 86.15 |
|
Euro |
1 |
INR 75.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUJ |
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.