|
|
|
MIRA INFORM REPORT
|
Report No. : |
485884 |
|
Report Date : |
13.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
TRUETZSCHLER INDIA PRIVATE LIMITED (w.e.f. 21.05.2010) |
|
|
|
|
Formerly Known
As : |
TRUMAC ENGINEERING COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
43, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400023, Maharashtra |
|
Tel. No.: |
91-22-22872245 |
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|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.12.2016 |
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|
|
|
Date of
Incorporation : |
02.07.1977 |
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|
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|
Com. Reg. No.: |
11-019735 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 73.650 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28100MH1977PTC019735 |
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|
|
|
IEC No.: |
0888000031 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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GSTIN: |
Not Divulged |
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|
|
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PAN No.: [Permanent Account No.] |
AAACT2153N |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in the manufacturing of textile
engineering machinery and other machinery parts. (Registered Activity) |
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|
|
|
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 |
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|
|
|
Payment Behaviour : |
Regular |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is subsidiary of “ÄBIC GMBH, Germany” and was incorporated in
the year 1977. It is having good track. Managed of the company has not filed its financials of 2017 with
government department. For the financial year 2016, the company has increase in its revenue
from operation as compared to previous year and maintained decent profit
margin of 14.15%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and debt free balance sheet. Further, company derives strength from its established track records
and strong technical capabilities of its German parent company in textile
machinery manufacturing business along with having a well-known brand -
Trutzscher and its health6y order book from reputed clientele in the textile
industry. Trade relations are reported as fair. Business is active. Payments are
reported to be regular. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
CARE |
|
Rating |
Long Term Rating = AA |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
September 05, 2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
September 05, 2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (EMPLOYEE PROVIDENT FUND) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstuction) 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 DECLINED BY
|
Name : |
Mr. Dipanjan Ghosh |
|
Designation : |
Sales and Marketing Department |
|
Contact No. |
91-9915550969 |
|
Date: |
13.11.2017 |
91-22-22872245 (Continuously Ringing)
LOCATIONS
|
Registered Office : |
43, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400023, Maharashtra, India |
|
Tel. No.: |
91-22-22872245 |
|
Mob. No: |
91-8905777021 (Mr. Sandeep Baksha) 91-9915550969 (Mr. Dipanjan Ghosh) |
|
Fax No.: |
91-22-22041690 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
N.I.D.C. Estate, Near Lambha Village, Post Narol, Ahmedabad – 382405,
Gujarat, India |
|
Tel. No.: |
91-79-25710608/ 66771100 |
|
Fax No.: |
91-79-25710617 |
DIRECTORS
AS ON: 26.05.2017
|
Name : |
Mr. Anuj Atul Bhagwati |
|
Designation : |
Director |
|
Address : |
Nishant, 6, M. L. Dahanukar Marg, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
06.10.1968 |
|
Date of Appointment : |
30.09.2005 |
|
Voter ID No.: |
MT/04/024/231513 |
|
DIN No.: |
00094776 |
|
|
|
|
Name : |
Mr. Heinrich Karl Gerhard Trutzschler |
|
Designation : |
Director |
|
Address : |
Schomolder Strasse, 92 41239, Monchengladbach 2, Germany |
|
Date of Birth/Age : |
28.02.1957 |
|
Date of Appointment : |
31.03.2006 |
|
DIN No.: |
00240511 |
|
|
|
|
Name : |
Mr. Dirk Burger |
|
Designation : |
Director |
|
Address : |
Nikolaus-Lauxen, Street-10, Pulheim 50259, Germany |
|
Date of Birth/Age : |
11.11.1960 |
|
Date of Appointment : |
01.01.2009 |
|
DIN No.: |
02238034 |
|
|
|
|
Name : |
Mr. Michael Schurenkramer |
|
Designation : |
Director |
|
Address : |
Schomolder Strasse, 253 41239, Monchengladbach, Germany |
|
Date of Birth/Age : |
17.11.1954 |
|
Date of Appointment : |
31.03.1995 |
|
DIN No.: |
00222384 |
|
|
|
|
Name : |
Mr. Jayesh Priyakant Bhatt |
|
Designation : |
Director / Senior Vice President (Operations) |
|
Address : |
17-B, Madhu Kunj Society, Near Kashivishw Anath, Mahadev, Maninag AR East, Ahmedabad - 380008, Gujarat, India |
|
Date of Birth/Age : |
10.03.1956 |
|
Qualification : |
B.com, AICWA, FCA |
|
Date of Appointment : |
30.09.2005 |
|
DIN No.: |
00119536 |
|
|
|
|
Name : |
Mr. Thomson Joseph Nadackel |
|
Designation : |
Director |
|
Address : |
Botelho Cintia Maria H No. 781, Talcond Raia, Salcete, Goa-403720, India |
|
Date of Birth/Age : |
03.11.1968 |
|
Date of Appointment : |
29.03.2014 |
|
DIN No.: |
06750125 |
|
|
|
|
Name : |
Dr. Ralf Napiwotzki |
|
Designation : |
Director |
|
Address : |
IM Vogelsholz, 64, Wuppertal-42369 De |
|
Date of Birth/Age : |
26.06.1965 |
|
Date of Appointment : |
06.05.2016 |
|
DIN No.: |
07463369 |
|
|
|
|
Name : |
Mr. Girish Chinubhai Sharedalal |
|
Designation : |
Alternate Director |
|
Address : |
Landmark, 111, M. L. Dahanukar Marg, Gamadia Hill, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
05.10.1932 |
|
Date of Appointment : |
23.11.2017 |
|
Voter ID No.: |
MT004024273098 |
|
DIN No.: |
00066058 |
KEY EXECUTIVE
|
Name : |
Mr. Sandeep Baksha |
|
Designation : |
Deputy General Manager |
|
Name : |
Mr. Dipanjan Ghosh |
|
Designation : |
Sales and Marketing Department |
|
|
|
|
Name : |
Parikh Dave and Associates |
|
Designation : |
Company Secretary |
|
Address : |
5-D, 5th Floor, Vardan Exclusive, Next to Vimal House, Near Stadium Petrol Pump, Navrangpura, Ahmedabad – 380009, Gujarat, India |
|
Tel. No: |
91-79-26405454/ 26401122 |
|
Email: |
|
|
|
|
|
Name : |
Mr. Parth Alpeshkumar Shah |
|
Designation : |
Company Secretary |
|
Address : |
B/9, Parasmani Society, Jawaharchowck, Sabarmati, Ahmedabad-380005, Gujarat, India |
|
Date of Appointment : |
30.08.2012 |
|
PAN No: |
CMMPS9165G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 26.05.2017
|
Names of Shareholders |
No. of Shares |
% age holding |
|
ABIC GmbH Monchengladbach, Germany |
6996750 |
95.00 |
|
ATE Private Limited, India |
368250 |
5.00 |
|
Total |
7365000 |
100.00 |
AS ON: 26.05.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Body Corporate) |
5.00 |
|
Promoters (Others - Foreign Body Corporate) |
95.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Manufacturing of Textile
Engineering Machinery and Other Machinery Parts. (Registered Activity) |
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Products : |
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Brand Names : |
“Truetzschler” |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Karur Vysya Bank Limited Ground Floor, “B” Block, Sakar - 7, Nehru Bridge Corner, Ashram Road, Ahmedabad - 380009, Gujarat, India · Bank of Baroda Ashram Road Branch; Ashram Road, Ashram Road, Ahemadabad - 380009, Gujarat, India |
|
|
|
|
Auditors : |
|
|
Name : |
N. A Shah Associates LLP Chartered Accountants |
|
Address : |
B/41-45, Paragon Centre, Pandurang Budhkar Marg, Worli, Mumbai,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFN5380N |
|
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|
Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
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|
Joint venture: |
Kostwein India Company Private Limited [U29100GJ2009PTC058301] |
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|
Holding Company : |
ABIC GmbH |
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|
|
|
Fellow Subsidiary Company: |
· Truetzschler Nonwovens GmbH · Truetzschler Card Clothing GmbH · Truetzschler Industriae Comercio de Maquinas Ltda · Truetzschler GmbH & Co.KG · Truetzschler Textile Machinery (Shanghai) Co. Ltd · American Truetzschler Inc. · Truetzschler Nonwovens Man-Made Fibres GmbH · Truetzschler Switzerland AG · Truetzschler Card Clothing GmbH |
|
|
|
|
Associate of holding company (Only where
there are transactions): |
Truetzschler GmbH and Co. KG |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and their
relatives: |
· A.T.E. Enterprises Private Limited. [U51503MH2001PTC132921] · A.T.E. Private Limited (also hold 5% of shares of the Company) · A.T.E. Envirotech Private Limited · Trumac Employees Group Gratuity Trust · Trumac Engineering Co. Limited Officers’ Superannuation Trust |
CAPITAL STRUCTURE
AS
ON: 31.12.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7365000 |
Equity Shares |
INR 10/- each |
INR 73.650 Million |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
73.650 |
73.650 |
73.650 |
|
(b) Reserves & Surplus |
2361.525 |
2006.064 |
1704.993 |
|
(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) |
2435.175 |
2079.714 |
1778.643 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
11.411 |
10.493 |
17.308 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
8.203 |
9.985 |
9.044 |
|
Total
Non-current Liabilities (3) |
19.614 |
20.478 |
26.352 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
555.260 |
533.934 |
639.187 |
|
(c)
Other current liabilities |
1081.933 |
885.624 |
910.085 |
|
(d)
Short-term provisions |
199.889 |
197.022 |
186.609 |
|
Total
Current Liabilities (4) |
1837.082 |
1616.580 |
1735.881 |
|
|
|
|
|
|
TOTAL |
4291.871 |
3716.772 |
3540.876 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1025.166 |
1013.945 |
970.784 |
|
(ii)
Intangible Assets |
7.301 |
14.129 |
22.381 |
|
(iii)
Capital work-in-progress |
27.776 |
57.485 |
35.040 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
137.268 |
137.268 |
138.882 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
84.428 |
99.818 |
116.472 |
|
(e)
Other Non-current assets |
113.336 |
117.201 |
117.422 |
|
Total
Non-Current Assets |
1395.275 |
1439.846 |
1400.981 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1419.721 |
1501.993 |
1470.299 |
|
(c)
Trade receivables |
545.774 |
304.531 |
457.804 |
|
(d)
Cash and cash equivalents |
768.904 |
307.563 |
32.565 |
|
(e)
Short-term loans and advances |
109.330 |
116.217 |
147.194 |
|
(f)
Other current assets |
52.867 |
46.622 |
32.033 |
|
Total
Current Assets |
2896.596 |
2276.926 |
2139.895 |
|
|
|
|
|
|
TOTAL |
4291.871 |
3716.772 |
3540.876 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
6268.680 |
5690.605 |
5852.935 |
|
|
|
Other Income |
64.651 |
46.491 |
42.095 |
|
|
|
TOTAL |
6333.331 |
5737.096 |
5895.030 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3594.806 |
3296.054 |
3559.926 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(49.471) |
(84.696) |
33.023 |
|
|
|
Employees benefits expense |
420.183 |
377.460 |
367.058 |
|
|
|
CSR expenditure |
6.760 |
4.588 |
0.000 |
|
|
|
Other expenses |
860.880 |
826.316 |
901.161 |
|
|
|
TOTAL |
4833.158 |
4419.722 |
4861.168 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1500.173 |
1317.374 |
1033.862 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
11.859 |
9.532 |
11.038 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1488.314 |
1307.842 |
1022.824 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
130.624 |
145.099 |
135.783 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1357.690 |
1162.743 |
887.041 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
470.367 |
418.453 |
293.304 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
887.323 |
744.290 |
593.737 |
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. value of exports (net) |
968.096 |
918.801 |
1020.403 |
|
|
|
Engineering and other service income |
25.772 |
7.166 |
9.108 |
|
|
|
Sale of computer software |
0.000 |
5.761 |
0.000 |
|
|
|
Expenses recovered |
43.715 |
37.371 |
42.691 |
|
|
TOTAL EXPORT |
1037.583 |
969.099 |
1072.202 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials & components |
1325.491 |
1281.318 |
1692.711 |
|
|
|
Tools & spares |
22.977 |
13.887 |
10.861 |
|
|
TOTAL IMPORTS |
1348.468 |
1295.205 |
1703.572 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
120.48 |
101.06 |
80.62 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
1534.188 |
1304.214 |
626.535 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
1023.396 |
913.133 |
337.783 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
31.78 |
19.53 |
28.55 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
11.49 |
18.69 |
12.78 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
56.38 |
59.13 |
65.54 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.06 |
0.88 |
0.70 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.41 |
1.21 |
1.01 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.43 |
0.43 |
0.49 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.75 |
0.78 |
0.98 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.44 |
0.52 |
0.58 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
126.50 |
138.21 |
93.66 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Net Profit Margin (PAT / Sales) * 100) |
% |
14.15 |
13.08 |
10.14 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
20.67 |
20.03 |
16.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
36.44 |
35.79 |
33.38 |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.58 |
1.41 |
1.23 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.80 |
0.48 |
0.39 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.57 |
0.56 |
0.50 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.58 |
1.41 |
1.23 |
Total Liability = Short-term Debt + Long-term Debt + Current
Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Indian Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
73.650 |
73.650 |
73.650 |
|
Reserves & Surplus |
1704.993 |
2006.064 |
2361.525 |
|
Net
worth |
1778.643 |
2079.714 |
2435.175 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
5852.935 |
5690.605 |
6268.680 |
|
|
|
(2.773) |
10.158 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
5852.935 |
5690.605 |
6268.680 |
|
Profit |
593.737 |
744.290 |
887.323 |
|
|
10.14% |
13.08% |
14.15% |
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 |
OVERVIEW OF THE COMPANY
The Company was incorporated in the year 1977 under the provisions of the Companies Act, 1956. The Company is engaged in the manufacturing of textile engineering machinery and other machinery parts.
REVIEW OF OPERATIONS- STANDALONE
The turnover of the Company for the year 2016 stood at INR 6191.300 million as compared to INR 5603.640 million in the previous year showing a growth of 10.48%. This was on account of increase in the demand for draw frames and comber machines in the market. State Government efforts to promote textile industry by its incentive scheme to the textile sector also contributed to the growth of the company. The profit before tax of the Company increased by 17% and stood at INR 1357.690 million as compared to INR 1162.743 million in the previous year.
During the year the Company has sold Blow Room Machinery of INR 1086.000 million, 864 Nos. High Production Cards of INR 2947.000 million, 160 Nos. Draw Frames of INR 317.000 million and 57 Nos Combers of INR 316.000 million to various mills, which are working satisfactorily. Firm Orders at the end of the year stood at INR 4359.000 million as against INR 3310 million at end of previous year.
EXPORTS
During the year Export of products and services were INR 1037.580 million against INR 969.090 million compared to the previous year.
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B59938209 |
90229720 |
THE KARUR VYSYA BANK LIMITED |
02/11/2001 |
28/09/2012 |
- |
360000000.0 |
SAKAR VII, B BLOCK, NEAR NEHRU BRIDGE CORNER, ASHRAM ROAD, AHMEDABAD-380009, GUJARAT, INDIA |
|
2 |
B26403261 |
80042906 |
BANK OF BARODA |
07/10/1995 |
- |
23/11/2011 |
10000000.0 |
ASHRAM RAOD BRANCH, ASHRAM ROAD, AHMEDABAD-382405, GUJARAT, INDIA |
|
3 |
B26403451 |
90227983 |
BANK OF BARODA |
29/05/1987 |
- |
23/11/2011 |
1235000.0 |
ASHRAM RAOD BRANCH, ASHRAM ROAD, AHMEDABAD-382405, GUJARAT, INDIA |
|
4 |
A87214730 |
90227540 |
THE INDUSTRIAL CREDIT AND INVESTMENT CORPOTION OF INDIA LIMITED |
28/03/1980 |
01/10/1982 |
01/06/2010 |
2300000.0 |
163, BACKBAY RECLATION, MUMBAI-400020, MAHARASHTRA, INDIA |
|
5 |
Y10331761 |
90228970 |
INDIAN RENEWABLE ENERGY DEVLOPMENT AGENCY LIMITED |
29/09/1995 |
29/09/1995 |
05/05/2003 |
59400000.0 |
4/A CORE, EAST COURT, INDIA HABITATE CENTREELODHI ROAD, NEW DELHI-110003, INDIA |
|
6 |
Y10331641 |
90228850 |
STATE BANK OF INDIA |
01/11/1994 |
05/10/1999 |
05/10/2001 |
140500000.0 |
COMMERCIAL BRANCH; PARAM SIDDI COMPLE, XELLISBRIGE, AHEMADABAD-382405, GUJARAT, INDIA |
|
7 |
Y10331053 |
90228262 |
BANK OF BARODA |
31/01/1990 |
06/10/1993 |
18/08/2001 |
37500000.0 |
ASHRAM RAOD BRANCH, ASHRAM ROAD, AHMEDABAD-382405, GUJARAT, INDIA |
|
8 |
Y10331915 |
90229124 |
THE KALUPUR COMMERCIAL CO-OPERATIVE BANK LIMITED |
03/10/1996 |
- |
30/05/2001 |
60000000.0 |
KALUPUR BHAVAN, AHEMADABAD-382405, GUJARAT, INDIA |
|
9 |
Y10331973 |
90229182 |
DEUTSCHE BANK |
20/03/1997 |
- |
24/05/2001 |
6600000.0 |
HAZARIMAL SOMANI MARG, FORT, MUMBAI-400001, GUJARAT, INDIA |
|
10 |
Y10331156 |
90228365 |
BANK OF BARODA |
29/01/1991 |
18/07/1991 |
29/04/2000 |
17500000.0 |
ASHRAM RAOD BRANCH, ASHRAM ROAD, AHMEDABAD-382405, GUJARAT, INDIA |
FIXED ASSETS:
- Land
- Buildings
- Plant and Equipment
- Factory equipment’s
- Furniture and Fixtures
- Vehicles
- Office Equipment
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 63.53 |
|
|
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWT |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
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.