|
|
|
%20PRIVATE%20LIMITED%20-%20485817%2012-Jan-2018_files/image015.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20485817%2012-Jan-2018_files/image016.jpg)
%20PRIVATE%20LIMITED%20-%20485817%2012-Jan-2018_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
485817 |
|
Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
K MOHAN AND COMPANY (EXPORTS) PRIVATE LIMITED |
|
|
|
|
Formerly Known As
: |
KARNATAKA CLOTHING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-1, 62/5, Begur Road, Bommanahalli, Bangalore – 560068, Karnataka |
|
Tel. No.: |
91-80-41967110 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
12.04.2004 |
|
|
|
|
Com. Reg. No.: |
08-033743 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 100.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101KA2004PTC033743 |
|
|
|
|
IEC No.: |
0388035188 |
|
|
|
|
TIN No: |
Not Available |
|
|
|
|
GSTIN: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRK04518D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL9811H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the business of manufacture and sale of Readymade garments. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2004 and it is a manufacturer and
exporter of ready-made garments. Management has failed to file its financials with Government Registry. As per available financials of March 2016, the company has registered
marginal growth in its revenue but has incurred losses. Rating takes into consideration the company’s continues losses from
its operations along with average debt coverage indicators and unfavourable
gap between its trade payables to its trade receivables. Rating is further constrained on account of vulnerability of
profitability to foreign exchange fluctuation and huge working capital
requirement industry. However, rating weakness is partially offset by extensive experience
of the promoters in apparel industry and renowned customer base. 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 |
ICRA |
|
Rating |
Long Term Rating (BB) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
February 08, 2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating (A4) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
February 08, 2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
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 12.01.2018
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.
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.
INFORMATION DENIED BY
|
Name : |
Mr. Guruprasad |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9845594000 |
|
Date : |
12.01.2018 |
Management non cooperative (91-80-41967110)
LOCATIONS
|
Registered / Head / Corporate Office : |
B-1, 62/5, Begur Road, Bommanahalli, Bangalore – 560068, Karnataka, India |
|
Tel. No.: |
91-80-41967110/ 111/ 25736001 |
|
Fax No.: |
91-80-2573 6025 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Rented |
|
Locality: |
Commercial |
|
|
|
|
Bangalore Office : |
16/3, Hosur Main Road, Veerasandra Village, Hebbagodi Post, Bangalore - 562 100, Karnataka, India |
|
|
|
|
Factory : |
Subject have 6 Factories in Bangalore |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mrs. Pooja Raju Mahtaney |
||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time director |
||||||||||||||||||||||||||||||||
|
Address : |
B2, Epsilon, Yemlur Main Road, Off Airport Road, Bangalore - 560037, Karnataka, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.03.1957 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
06.03.2009 |
||||||||||||||||||||||||||||||||
|
PAN No.: |
AAHPM3042R |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00152968 |
||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Ms. Gitanjali Raju Mahtaney |
||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||
|
Address : |
31, Epsilon, Yemlur Main Road, Off Airport Road, Bangalore – 560037, Karnataka, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.06.1979 |
||||||||||||||||||||||||||||||||
|
PAN No.: |
AEQPM5052A |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
05.01.2016 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00153081 |
||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Baiju |
|
Designation : |
General Manager in Commercial Department |
|
|
|
|
Name : |
Nishtala Someswara Rao |
|
Designation : |
Secretary |
|
Address : |
101, Phase 1, Golden Park Apartments, Kodichikkanahalli, Bangalore - 560076, Karnataka, India |
|
Date of Birth/Age : |
25.07.1954 |
|
Date of Appointment : |
09.03.2006 |
|
PAN No.: |
AAPPR9496Q |
|
|
|
|
Name : |
Gopalakrishnaraj H H and Associates |
|
Designation : |
Company Secretary |
|
Address: |
No. 369, 16th Main, Near 36th Cross, 4th Block, Jayanagar, Bangalore – 560041, Karnataka, India |
|
|
|
|
Name : |
Mr. Guruprasad |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Raju Mohandas Mahtaney |
|
2470 |
|
Pooja Raju Mahtaney |
|
4992500 |
|
Gitanjali Raju Mahtaney |
|
5005000 |
|
Trinova Holdings Private Limited, India |
|
10 |
|
Growsafe Securities Private Limited, India |
|
10 |
|
K Mohan and Company Exports (India) Private Limited, India |
|
10 |
|
Total |
|
10000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2016
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided Family – India] |
100.00 |
%20PRIVATE%20LIMITED%20-%20485817%2012-Jan-2018_files/image020.gif)
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of manufacture and sale of Readymade garments. [Registered Activity] |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Financial
Institutions |
Religare Finvest Limited, D3, P3b, District Centre, Saket, New Delhi - 110017, India |
|
|
|
|
Auditors : |
|
|
Name : |
Prakash and Thiagarajan Chartered Accountants |
|
Address : |
No.41, 3rd Main, AECS Layout, 2nd Stage, Nagashettyhalli, Sanjaynagar, Bangalore – 560094, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFP0006C |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
--- |
|
|
|
|
Subsidiaries : |
PRM Fashions Private Limited |
|
|
|
|
Enterprises which
are owned, or have
significant influence of or are
partners with Key management personnel and their
relatives: |
[U18101KA1996PTC042444] |
|
|
|
|
Others: |
|
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
100.000 |
100.000 |
100.000 |
|
(b) Reserves & Surplus |
251.323 |
299.278 |
352.828 |
|
(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) |
351.323 |
399.278 |
452.828 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
281.000 |
250.000 |
282.863 |
|
(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 |
23.059 |
18.428 |
16.086 |
|
Total
Non-current Liabilities (3) |
304.059 |
268.428 |
298.949 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
394.088 |
438.458 |
451.336 |
|
(b) Trade payables |
205.784 |
140.745 |
305.253 |
|
(c) Other current liabilities |
179.057 |
139.525 |
144.543 |
|
(d) Short-term provisions |
46.673 |
42.949 |
37.915 |
|
Total
Current Liabilities (4) |
825.602 |
761.677 |
939.047 |
|
|
|
|
|
|
TOTAL |
1480.984 |
1429.383 |
1690.824 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
193.896 |
255.927 |
293.126 |
|
(ii) Intangible Assets |
1.551 |
3.672 |
4.757 |
|
(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 |
7.125 |
1.409 |
1.409 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
91.885 |
91.548 |
94.724 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
294.457 |
352.556 |
394.016 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
402.429 |
470.638 |
554.289 |
|
(c) Trade receivables |
508.313 |
280.866 |
438.978 |
|
(d) Cash and cash equivalents |
65.239 |
171.572 |
120.767 |
|
(e) Short-term loans and
advances |
27.372 |
13.138 |
32.373 |
|
(f) Other current assets |
183.174 |
140.613 |
150.401 |
|
Total
Current Assets |
1186.527 |
1076.827 |
1296.808 |
|
|
|
|
|
|
TOTAL |
1480.984 |
1429.383 |
1690.824 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
3050.322 |
3038.793 |
4244.541 |
|
|
Other Income |
65.194 |
21.785 |
21.399 |
|
|
TOTAL |
3115.516 |
3060.578 |
4265.940 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1272.349 |
1519.601 |
2290.439 |
|
|
Purchases of Stock-in-Trade |
245.969 |
79.301 |
13.167 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
45.781 |
(28.583) |
78.971 |
|
|
Employees benefits expense |
1093.217 |
1063.438 |
1184.367 |
|
|
Other expenses |
450.196 |
408.240 |
609.277 |
|
|
Prior period items |
0.000 |
0.000 |
(0.197) |
|
|
Exceptional items |
0.000 |
0.000 |
0.000 |
|
|
TOTAL
|
3107.512 |
3041.997 |
4176.221 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
8.004 |
18.581 |
89.916 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
22.900 |
20.673 |
22.093 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(14.896) |
(2.092) |
67.823 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
33.059 |
43.686 |
43.612 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(47.955) |
(45.778) |
24.211 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.636 |
(0.043) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
(47.955) |
(46.414) |
24.254 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2611.430 |
2433.311 |
3684.216 |
|
|
Freight and insurance
recoveries |
0.000 |
0.000 |
18.970 |
|
|
TOTAL
EARNINGS |
2611.430 |
2433.311 |
3703.186 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
276.928 |
273.354 |
680.445 |
|
|
Components and Stores parts |
0.000 |
2.550 |
1.884 |
|
|
Capital Goods |
11.785 |
0.181 |
32.463 |
|
|
TOTAL
IMPORTS |
288.713 |
276.085 |
714.792 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(4.80) |
(4.64) |
2.43 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
0.635 |
15.700 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(128.521) |
110.972 |
233.023 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
60.82 |
33.74 |
37.75 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.00 |
10.82 |
9.67 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
49.47 |
32.13 |
48.37 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.02 |
0.04 |
0.16 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.04 |
0.07 |
0.30 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.75 |
0.71 |
0.73 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.92 |
1.73 |
1.66 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.35 |
1.91 |
2.07 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.56 |
0.65 |
0.66 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.35 |
0.90 |
4.06 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin (PAT / Sales) * 100) |
% |
(1.57) |
(1.53) |
0.57 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(3.24) |
(3.25) |
1.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(13.65) |
(11.62) |
5.31 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.44 |
1.41 |
1.38 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.95 |
0.80 |
0.79 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.24 |
0.28 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
6.75 |
6.89 |
7.50 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.44 |
1.41 |
1.38 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR In
Million |
INR
In Million |
|
Share Capital |
100.000 |
100.000 |
100.000 |
|
Reserves & Surplus |
352.828 |
299.278 |
251.323 |
|
Net worth |
452.828 |
399.278 |
351.323 |
|
|
|
|
|
|
Long-term borrowings |
282.863 |
250.000 |
281.000 |
|
Short term borrowings |
451.336 |
438.458 |
394.088 |
|
Current Maturities of Long
term debt |
15.700 |
0.635 |
0.000 |
|
Total borrowings |
749.899 |
689.093 |
675.088 |
|
Debt/Equity ratio |
1.656 |
1.726 |
1.922 |
%20PRIVATE%20LIMITED%20-%20485817%2012-Jan-2018_files/image022.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4244.541 |
3038.793 |
3050.322 |
|
|
|
(28.407) |
0.379 |
%20PRIVATE%20LIMITED%20-%20485817%2012-Jan-2018_files/image024.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4244.541 |
3038.793 |
3050.322 |
|
Profit/ (Loss) |
24.057 |
(46.414) |
(47.955) |
|
|
0.57% |
(1.53%) |
(1.57%) |
%20PRIVATE%20LIMITED%20-%20485817%2012-Jan-2018_files/image026.gif)
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 |
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 |
COMPANYS AFFAIRS AND BUSINESS
PROSPECTS:
The Company has reported a turnover of INR 3115.516 Million in the current year compared to INR 3060.578 Million for the year ending 31st March, 2015. Loss after tax for current year stands at INR 47.955 Million compared to profit after tax of INR 46.414 Million during 2014-15.
UNSECURED LOAN
|
Particulars |
As
on 31.03.2016 |
As
on 31.03.2015 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from related parties |
250.000 |
250.000 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from related parties |
79.338 |
159.318 |
|
Total |
329.338 |
409.318 |
INDEX OF CAHREGS:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G09939729 |
10594719 |
ICICI BANK LIMITED |
24/09/2015 |
14/07/2016 |
- |
250000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGu390015IN |
|
2 |
G65973778 |
10431747 |
KOTAK MAHINDRA BANK LIMITED |
16/05/2013 |
30/10/2017 |
- |
430000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
3 |
C71228977 |
10478004 |
Indian Overseas Bank |
21/12/2013 |
18/03/2015 |
07/11/2015 |
250000000.0 |
Bommanahalli Branch,Begur RoadBangaloreKA560068IN |
|
4 |
C29350097 |
10330111 |
RELIGARE FINVEST LIMITED |
30/11/2011 |
- |
26/09/2014 |
40000000.0 |
D3, P3B,District Centre, SaketNew DelhiDL110017IN |
|
5 |
C28979755 |
10331480 |
RELIGARE FINVEST LIMITED |
21/12/2011 |
- |
26/09/2014 |
6800000.0 |
D3, P3B,District Centre, SaketNew DelhiDL110017IN |
|
6 |
C28981892 |
10331044 |
RELIGARE FINVEST LIMITED |
21/12/2011 |
- |
26/09/2014 |
8200000.0 |
D3, P3B,District Centre, SaketNew DelhiDL110017IN |
|
7 |
C29353521 |
10331036 |
RELIGARE FINVEST LIMITED |
21/12/2011 |
- |
26/09/2014 |
20000000.0 |
D3, P3B,District Centre, SaketNew DelhiDL110017IN |
|
8 |
B88367313 |
80019000 |
STATE BANK OF INDIA |
09/06/2004 |
12/03/2008 |
29/10/2013 |
545000000.0 |
OVERSEAS BRANCH, LHO COMPOUNDST. MARK'S ROADBANGALOREKA560001IN |
|
9 |
B80295967 |
80019153 |
The Royal Bank of Scotland N.V. |
25/04/2005 |
03/07/2010 |
04/07/2013 |
100000000.0 |
74, Sakhar Bhavan,7th Floor, Nariman Point,MumbaiMH400021IN |
|
10 |
B58220526 |
10125365 |
Standard Chartered Bank |
06/10/2008 |
- |
08/09/2012 |
120000000.0 |
RAHEJA TOWERS, SIXTH FLOORNO. 26-27, M.G. ROADBANGALOREKA560001IN |
CONTINGENT
LIABILITIES:
(INR in Million)
|
PARTICULARS |
31.03.2016 |
|
Claims against company not acknowledged as debt |
2.068 |
|
Other money for which company is contingently liable |
1.606 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer Equipments
- Leasehold improvements
- Office equipment
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 63.74 |
|
|
1 |
INR 86.01 |
|
Euro |
1 |
INR 76.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPY |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
MTN |
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.