|
|
|
MIRA INFORM REPORT
|
Report No. : |
485766 |
|
Report Date : |
13.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
MAX SPARE LIMITED (w.e.f. 19.02.2016) |
|
|
|
|
Formerly Known
As : |
SPARE-AGE
SEALS LIMITED (w.e.f. 05.01.2007) SPARE-AGE
(INDIA) LIMITED (w.e.f. 24.08.2006) SPARE-AGE
(INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Flat No 8, 1st Floor, Shyam Kripa CHS Limited, Plot No 427,
15th Road, Khar (West), Mumbai – 400052, Maharashtra |
|
Tel. No.: |
91-22-22225555 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
04.04.1967 |
|
|
|
|
Com. Reg. No.: |
11-013711 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 49.560 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109MH1967PLC013711 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN/UIN : |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS6349E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of rubber products. [Registered Activity] |
|
|
|
|
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 : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was incorporated in the year 1967 and it is a manufacturer of
rubber products. As per financials of March 2017, the company has registered growth of 20.56%
in its revenue as compared to its previous year’s revenue and has reported
fair profit margin of 4.01% under review. Rating takes into consideration the company’s long established track
record of business operations marked by healthy networth base along with
average debt coverage indicators and good liquidity position. Rating also takes into account the extensive experience of its
promoters in rubber industry. Further, the company has reported earnings per share of INR
68.98 against its face value of INR 100. Payments are reported to be regular. In view of aforesaid, the company can be considered for business
dealings at normal 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.
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
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 13.01.2018
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 (91-22-22225555)
Given Numbers are incomplete i.e. 230075/23014
LOCATIONS
|
Registered Office : |
Flat No 8, 1st Floor, Shyam Kripa CHS Limited, Plot No 427,
15th Road, Khar (West), Mumbai – 400052, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
OEM Division : |
Survey No. 50 Hissa No. 1, 2, 3B/2B, Khopoli Dahivali Pali, P.H.
Raigad – 410203, Maharashtra, India |
|
|
|
|
Branch Office : |
Oil Seal House, Plot No. A/403, Road No.28, Wagle Estate,
Thane, Mumbai – 400604, Maharashtra, India |
|
Tel. No.: |
91-22-22225555 / 25800972 (10 Lines) |
|
Fax No.: |
91-22-25823991/ 25827480 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Jagmeet Singh Sabharwal |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
1302, Ocean View, Union Park, Pali Hill, Khar (West), Mumbai – 400052,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.07.1972 |
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Date of Appointment : |
24.09.2013 |
||||||||||||||||||||||||||||||||||||
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DIN No.: |
00270607 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Sheetal Jagdish Sabharwal |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
803, 8th Floor, Quantum Park, Union Park, Olive Restaurant,
Khar (West), Mumbai – 400052, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2015 |
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DIN No.: |
07016723 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Rajpal Kaur Ushpal Singh Sabharwal |
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Designation : |
Wholetime Director |
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|
Address : |
301, Quantum Park, Building No. 2, Khar Gulab Nagar, Union Park, Khar Danda,
Mumbai – 400052, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
13.08.2016 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07589331 |
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Kundan Kaur Sabharwal |
|
600 |
|
Jagmeet Singh Sabharwal |
|
459999 |
|
Jagmeet Singh Sabharwal (HUF) |
|
14998 |
|
Sheetal Jagmeet Singh Sabharwal |
|
20000 |
|
Rajiv Singh |
|
1 |
|
Ushpal Singh Sabharwal |
|
1 |
|
Rajpal Kaur Sabharwal |
|
1 |
|
|
|
|
|
Total |
|
495600 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
92.82 |
|
Public/Other than promoters
[Individual/Hindu Undivided Family (Indian)] |
7.18 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of rubber products. [Registered Activity] |
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Products / Services
: |
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||||
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Brand Names : |
Not Available |
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|
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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|
||||
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Imports : |
Not Divulged |
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|
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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 : |
·
Axis Bank Limited, Corporate Banking Branch,
12-Mittal Tower, A-Wing, First Floor, Nariman Point, Mumbai – 400021,
Maharashtra, India ·
Punjab National Bank, Bandra Linking Road Branch,
Plot No.237, Baba House, 27th Road, Bandra (West), Mumbai – 400050,
Maharashtra, India ·
Standard Chartered Bank, SME Credit,
Crescenzo, 3A/F, Plot No. C-38 and 39G Block, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
S. S. Chaudhary and Company Chartered Accountant |
|
Address : |
1st Floor, Shubh Laxmi Shopping Center, Rani Sati Marg,
Malad (East), Mumbai – 400097, Maharashtra, India |
|
Mobile No.: |
91-9324475490 |
|
Fax No.: |
91-22-28801576 |
|
E-Mail : |
|
|
PAN
No.: |
ACTPC9727D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 100/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
495600 |
Equity Shares |
INR 100/- each |
INR 49.560 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 |
49.560 |
49.560 |
49.560 |
|
(b) Reserves & Surplus |
242.319 |
208.133 |
180.343 |
|
(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) |
291.879 |
257.693 |
229.903 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
61.625 |
84.915 |
116.438 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
186.697 |
193.081 |
221.687 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
248.322 |
277.996 |
338.125 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
241.910 |
215.293 |
187.741 |
|
(b) Trade
payables |
65.942 |
54.994 |
52.621 |
|
(c) Other
current liabilities |
8.335 |
6.422 |
6.831 |
|
(d) Short-term
provisions |
22.077 |
20.749 |
30.241 |
|
Total Current
Liabilities (4) |
338.264 |
297.458 |
277.434 |
|
|
|
|
|
|
TOTAL |
878.465 |
833.147 |
845.462 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
343.577 |
365.588 |
231.771 |
|
(ii)
Intangible Assets |
1.061 |
0.999 |
0.944 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
146.524 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
32.610 |
30.926 |
41.257 |
|
Total Non-Current
Assets |
377.248 |
397.513 |
420.496 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
244.685 |
225.536 |
211.529 |
|
(c) Trade
receivables |
217.164 |
181.155 |
161.813 |
|
(d) Cash
and cash equivalents |
10.896 |
11.427 |
20.717 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
28.472 |
17.516 |
30.907 |
|
Total
Current Assets |
501.217 |
435.634 |
424.966 |
|
|
|
|
|
|
TOTAL |
878.465 |
833.147 |
845.462 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
852.931 |
707.457 |
844.017 |
|
|
|
|
Other Income |
6.091 |
2.260 |
0.885 |
|
|
|
|
TOTAL |
859.022 |
709.717 |
844.902 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
306.584 |
235.857 |
325.196 |
|
|
|
|
Changes in Inventories of finished goods and work-in-progress |
(22.182) |
(18.765) |
(26.638) |
|
|
|
|
Employee Benefits Expenses |
122.128 |
99.372 |
84.398 |
|
|
|
|
Other Expenses |
314.119 |
267.557 |
297.521 |
|
|
|
|
TOTAL |
720.649 |
584.021 |
680.477 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
138.373 |
125.696 |
164.425 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
36.612 |
47.762 |
55.972 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
101.761 |
77.934 |
108.453 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
48.676 |
37.285 |
38.098 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
53.085 |
40.649 |
70.355 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
18.900 |
12.858 |
23.500 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
34.185 |
27.791 |
46.855 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
NA |
129.397 |
338.640 |
|
|
|
TOTAL EARNINGS |
NA |
129.397 |
338.640 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
68.98 |
56.07 |
94.54 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
58.402 |
(65.415) |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
92.93 |
93.46 |
69.98 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.93 |
3.91 |
5.22 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
78.51 |
85.11 |
59.06 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.57 |
0.56 |
0.78 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.40 |
0.34 |
0.43 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.46 |
0.46 |
0.47 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.04 |
1.16 |
1.32 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.16 |
1.15 |
1.21 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.18 |
1.42 |
1.65 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.78 |
2.63 |
2.94 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
4.01 |
3.93 |
5.55 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.89 |
3.34 |
5.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
11.71 |
10.78 |
20.38 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.48 |
1.46 |
1.53 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.76 |
0.71 |
0.77 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.33 |
0.31 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
6.12 |
6.06 |
6.14 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.48 |
1.46 |
1.53 |
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 |
49.560 |
49.560 |
49.560 |
|
Reserves & Surplus |
180.343 |
208.133 |
242.319 |
|
Net
worth |
229.903 |
257.693 |
291.879 |
|
|
|
|
|
|
Long Term borrowings |
116.438 |
84.915 |
61.625 |
|
Short Term borrowings |
187.741 |
215.293 |
241.910 |
|
Total
borrowings |
304.179 |
300.208 |
303.535 |
|
Debt/Equity
ratio |
1.323 |
1.165 |
1.040 |
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
|
844.017 |
707.457 |
852.931 |
|
|
|
(16.180) |
20.563 |
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
|
844.017 |
707.457 |
852.931 |
|
Profit/(Loss) |
46.855 |
27.791 |
34.185 |
|
|
5.55% |
3.93% |
4.01% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
No |
|
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 |
OPERATIONS:
The company continues to be engaged in the activities pertaining to
Manufacturing of rubber products.
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G48761837 |
100061609 |
KOTAK MAHINDRA BANK LIMITED |
31/08/2016 |
04/07/2017 |
- |
165800000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
2 |
G59642249 |
10607251 |
AXIS BANK LIMITED |
08/05/2014 |
17/10/2017 |
- |
282800000.0 |
CORPORATE BANKING BRANCH, 12-MITTAL TOWERA-WING, FIRST FLOOR, NARIMAN POINTMUMBAIMH400021IN |
|
3 |
G60753019 |
10485234 |
PUNJAB NATIONAL BANK |
25/02/2014 |
- |
13/10/2017 |
6000000.0 |
BANDRA LINKING ROAD BRANCH, PLOT NO.237,BABA HOUSE, 27TH ROAD, BANDRA (WEST),MUMBAIMH400050IN |
|
4 |
G23719446 |
10582131 |
STANDARD CHARTERED BANK |
27/07/2015 |
- |
11/11/2016 |
114500000.0 |
SME CREDIT, CRESCENZO, 3A/F, PLOT NO. C-38 & 39G BLOCK, BANDRA KURLA COMPLEX, BANDRA EASTMUMBAIMH400051IN |
|
5 |
G23719727 |
10597799 |
STANDARD CHARTERED BANK |
25/04/2014 |
- |
11/11/2016 |
140200000.0 |
C-38/39 , CRESCENZO,BANDRA - KURLA COMPLEXMUMBAIMH400051IN |
|
6 |
C58121914 |
10423760 |
PUNJAB & SIND BANK |
12/04/2013 |
- |
16/06/2015 |
21300000.0 |
INTERNATIONAL BANKING DIVISION, 8, M.K. ROADDILWARA, NARIMAN POINTMUMBAIMH400021IN |
|
7 |
C58072810 |
10165644 |
PUNJAB & SIND BANK |
22/06/2009 |
- |
16/06/2015 |
46558000.0 |
DILWARA BLDG. 8 M. K. ROADNARIMAN POINTMUMBAIMH400021IN |
|
8 |
C58071358 |
10330672 |
PUNJAB & SIND BANK |
22/12/2011 |
- |
16/06/2015 |
21800000.0 |
INTERNATIONAL BANKING DIVISION8, MK ROAD, DILWARA, NARIMAN POINTMUMBAIMH400021IN |
|
9 |
C58071994 |
10324650 |
PUNJAB & SIND BANK |
14/12/2011 |
- |
16/06/2015 |
5000000.0 |
INTERNATIONAL BANKING DIVISION8, MK ROAD, DILWARA, NARIMAN POINTMUMBAIMH400021IN |
|
10 |
C58066150 |
10154738 |
PUNJAB & SIND BANK |
04/04/2009 |
12/04/2013 |
16/06/2015 |
160000000.0 |
INTERNATIONAL BANKING DIVISION, 8, M.K. ROADDILWARA, NARIMAN POINTMUMBAIMH400021IN |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Office Equipment
·
Computer Equipments
·
Air Conditioner
· Electrical Installation
· Dies and Tools
·
Vehicles
·
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 63.53 |
|
|
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
NKT |
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.