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|
MIRA INFORM REPORT
|
Report No. : |
485835 |
|
Report Date : |
15.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ARADHYA STEEL PRIVATE LIMITED (w.e.f. 24.01.2008) |
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|
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Formerly Known
As : |
ARADHYA STEEL WIRES PRIVATE LIMITED |
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Registered
Office : |
7th Floor, "SOLUS", No.2, 1st Cross,
J.C. Road, Bangalore – 560027, Karnataka |
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Tel. No.: |
91-80-41136999 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
09.01.1989 |
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|
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Com. Reg. No.: |
08-009761 |
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Capital
Investment / Paid-up Capital : |
INR 232.083 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U00361KA1989PTC009761 |
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IEC No.: |
0794013147 |
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GSTIN/UIN : |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCA3266D |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing
and dealing in all types of wires, wire rods, electrical cables, cords,
strips, conductors, steel, steel alloys, copper alloys, zinc alloys, lead
alloys, aluminium alloys etc. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Available |
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 3700000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1989 and it is a manufacturing and dealing in all types
of wires, wire rods, electrical cables, cords, strips, conductors, steel,
steel alloys, copper alloys, zinc alloys, lead alloys, aluminium alloys etc. As per
financials of March 2017, the company has registered a growth of 14.98% in
its revenue as compared to its previous year’s revenue and has reported
minimal profit margin of 0.80%. Rating
takes into consideration the company’s established track record of business
operations marked by sound networth base along with comfortable debt coverage
indicators and good liquidity position. Rating
also takes into account its strong market position in the segments it
operates and reputed clientele base. However,
rating strength is partially offset by the exposure of its profitability
margin to volatility in the raw material prices and foreign exchange
fluctuation, working capital intensive nature of operations and exposure to
cyclicality associated with the auto industry. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for 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.
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 |
CARE |
|
Rating |
Long term Rating= BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
27.12.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating= A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
27.12.2017 |
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 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 15.01.2018
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.
LOCATIONS
|
Registered / Corporate Office : |
7th Floor, "SOLUS", No.2, 1st Cross,
J.C. Road, Bangalore – 560027, Karnataka, India |
|
Tel. No.: |
91-80-41136999 |
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Fax No.: |
91-80-41136111 |
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E-Mail : |
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Website : |
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Head Office / Factory 1 : |
SY. No.154, Halavarthy Village, NH-4, Poona Bangalore Highway, Anagodu, Davangere, Karnataka, India |
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Tel. No.: |
91-8192-272990 |
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Fax No.: |
91-8192-259551 |
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|
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Factory 2 : |
Located at: Avaragere, Davangere, Karnataka, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Avinash Aradhya |
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|
Designation : |
Managing Director |
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Address : |
2980, MCC, B
Block, Davangere – 577004, Karnataka, India |
||||||||||||
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Date of Birth/Age : |
12.05.1978 |
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Date of Appointment : |
16.08.2010 |
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DIN No.: |
00733636 |
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PAN No.: |
ACXPA9531F |
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Other Directorship:
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Name : |
Mr. Iynahalli Puttappa Mallokaradhya |
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Designation : |
Director |
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Address : |
2580, 'Avinash',
7th Main, Davangere Extension P/S, Davangere – 577004, Karnataka,
India |
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Date of Birth/Age : |
05.08.1950 |
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Date of Appointment : |
16.08.2010 |
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DIN No.: |
00773104 |
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PAN No.: |
ACMPM7814L |
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Other Directorship:
|
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
I. P. Mallokaradhya |
|
8698294 |
|
I. M. Roopa |
|
1590000 |
|
Avinash Aradhya |
|
12410035 |
|
Anju Aradhya |
|
4000 |
|
Deepti Kore |
|
300000 |
|
Prabhakar Kore |
|
100000 |
|
Asha P. Kore |
|
100000 |
|
Nanda S. Hurkadli |
|
3000 |
|
Bhanu Kiran |
|
3000 |
|
|
|
|
|
Total |
|
23208329 |
Equity Share Break up (Percentage of Total Equity)
AS ON 15.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
97.82 |
|
Public/Other than promoters [Individual/Hindu
Undivided Family (Indian)] |
2.18 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
and dealing in all types of wires, wire rods, electrical cables, cords, strips,
conductors, steel, steel alloys, copper alloys, zinc alloys, lead alloys,
aluminium alloys etc. [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
·
Union Bank of India, Industrial Finance Branch
No.23, Archana Complex, 1st Floor, J .C. Road, Bangalore – 560002,
Karnataka, India |
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Facilities : |
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Auditors : |
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Name : |
D S B and Associates Chartered Accountants |
|
Address : |
Flat
005, Sai Balaji Residency, Haralur Main Road, Parappana Agrahara, Bangalore –
560010, Karnataka, India |
|
PAN No.: |
AALFD4757E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which are owned, or have significant influence of or are partners
with Key management personnel and their relatives : |
· Aradhya Wire Ropes Private Limited · Aradhya Concrete Products · Aradhya Cement Products · Mysore Cement Pipes · Chetana Concrete Products · AFX Logistics · Shankar Concrete Products |
CAPITAL STRUCTURE
AS ON 15.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
INR 10/- each |
INR 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23208329 |
Equity Shares |
INR 10/- each |
INR 232.083 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 |
232.083 |
218.536 |
189.028 |
|
(b) Reserves & Surplus |
1058.686 |
943.489 |
771.477 |
|
(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) |
1290.769 |
1162.025 |
960.505 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
391.364 |
370.022 |
352.101 |
|
(b) Deferred tax liabilities (Net) |
84.267 |
80.305 |
59.311 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
475.631 |
450.327 |
411.412 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
967.855 |
913.807 |
817.240 |
|
(b) Trade
payables |
728.726 |
437.450 |
348.609 |
|
(c) Other
current liabilities |
104.264 |
94.516 |
110.105 |
|
(d) Short-term
provisions |
22.735 |
7.917 |
8.043 |
|
Total Current
Liabilities (4) |
1823.580 |
1453.690 |
1283.997 |
|
|
|
|
|
|
TOTAL |
3589.980 |
3066.042 |
2655.914 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
757.146 |
745.023 |
383.229 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
249.734 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.320 |
0.320 |
0.320 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
142.108 |
25.597 |
166.491 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
899.574 |
770.940 |
799.774 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
305.906 |
256.247 |
284.690 |
|
(c) Trade
receivables |
2204.639 |
1673.917 |
1383.930 |
|
(d) Cash
and cash equivalents |
120.363 |
153.795 |
50.603 |
|
(e) Short-term
loans and advances |
38.955 |
167.570 |
90.296 |
|
(f) Other
current assets |
20.543 |
43.573 |
46.621 |
|
Total
Current Assets |
2690.406 |
2295.102 |
1856.140 |
|
|
|
|
|
|
TOTAL |
3589.980 |
3066.042 |
2655.914 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
7081.010 |
6158.319 |
4541.201 |
|
|
|
|
Other Income |
8.395 |
6.494 |
5.573 |
|
|
|
|
TOTAL |
7089.405 |
6164.813 |
4546.774 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
921.072 |
865.134 |
768.347 |
|
|
|
|
Purchase of Stock-in-trade |
5394.368 |
4656.036 |
3224.230 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and stock-in-trade |
(7.821) |
3.980 |
(44.741) |
|
|
|
|
Employee Benefits Expenses |
74.639 |
61.519 |
54.816 |
|
|
|
|
CSR expenditure |
1.389 |
0.000 |
0.000 |
|
|
|
|
Other expenses |
322.200 |
282.519 |
281.194 |
|
|
|
|
TOTAL |
6705.847 |
5869.188 |
4283.846 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
383.558 |
295.625 |
262.928 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
221.870 |
172.373 |
148.629 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
161.688 |
123.252 |
114.299 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
71.133 |
43.204 |
43.078 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
90.555 |
80.048 |
71.221 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
33.612 |
29.727 |
24.991 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
56.943 |
50.321 |
46.230 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
F.O.B. Value of Exports |
95.921 |
33.750 |
13.460 |
|
|
|
TOTAL EARNINGS |
95.921 |
33.750 |
13.460 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
118.913 |
219.726 |
310.075 |
|
|
|
|
Components and spare
parts |
0.000 |
3.656 |
2.799 |
|
|
|
|
Capital Goods |
7.230 |
0.000 |
17.684 |
|
|
|
TOTAL IMPORTS |
126.143 |
223.382 |
330.558 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
2.61 |
2.30 |
2.45 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
32.944 |
19.398 |
17.899 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
195.776 |
271.873 |
(2.626) |
|
Net cash flows from (used in) operating activities |
170.971 |
258.318 |
(36.346) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
113.64 |
99.21 |
111.23 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.21 |
3.68 |
3.28 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
42.12 |
28.92 |
31.87 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.25 |
1.15 |
0.92 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.51 |
0.40 |
0.42 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.63 |
0.60 |
0.62 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.08 |
1.12 |
1.24 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.41 |
1.25 |
1.34 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.59 |
0.64 |
0.66 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.73 |
1.72 |
1.77 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
0.80 |
0.82 |
1.02 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.59 |
1.64 |
1.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.41 |
4.33 |
4.81 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.48 |
1.58 |
1.45 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.31 |
1.40 |
1.22 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.36 |
0.38 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
6.00 |
5.96 |
6.28 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.48 |
1.58 |
1.45 |
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 |
189.028 |
218.536 |
232.083 |
|
Reserves & Surplus |
771.477 |
943.489 |
1058.686 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
960.505 |
1162.025 |
1290.769 |
|
|
|
|
|
|
Long Term borrowings |
352.101 |
370.022 |
391.364 |
|
Short Term borrowings |
817.240 |
913.807 |
967.855 |
|
Current maturities of long term debt |
17.899 |
19.398 |
32.944 |
|
Total
borrowings |
1187.240 |
1303.227 |
1392.163 |
|
Debt/Equity
ratio |
1.236 |
1.122 |
1.079 |
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
|
4541.201 |
6158.319 |
7081.010 |
|
|
|
35.610 |
14.983 |
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
|
4541.201 |
6158.319 |
7081.010 |
|
Profit/(Loss) |
46.230 |
50.321 |
56.943 |
|
|
1.02% |
0.82% |
0.80% |
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 |
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 |
REVENUES AND PROFITS
The Company has earned a revenue of INR 7081.010 million from operations of the Company, INR 8.395 million from other income and thus the total income earned by the Company during the year was INR 7089.405 million, which is 15 % more than the previous years’ total income of INR 6164.813 million. The Company has earned Profit before Depreciation, Interest and Tax of INR 383.558 million and after adjusting the interest, depreciation, the Company has earned a profit before tax of INR 90.555 million. The Net Profit earned by the Company during the year was INR 56.943 million.
The Company’s manufacturing performance improved only by 8.66% due to extended trials runs to establish consistent quality on the new equipment. The Company’s distribution sales grew by 16.69%. The Company has reported 15% increase in net sales to INR 7081.000 million and Profits after Tax to INR 56.900 million primarily driven by increasing sales of Tyre Bead Wire and distribution of steel.
PROSPECTS OF THE COMPANY
While world economy is facing a slowdown, India continues to be a bright spot. NITI Aayog, the Government think tank in its recent report has suggested that India’s economy will increase three fold by 2030 and will reach US$7.25 trillion. The Aayog has projected an average growth rate of 8% over the next 15 years which means India will continue to be one of the fastest growing economies.
Recognizing the constraints to improve manufacturing sales, the company has revamped the entire operations inducting several senior experienced people to head operations for wires and ropes and business development for wires and ropes (both domestic and exports). The Company is on track to reach full utilization of its expanded capacity of 49,200 MTPA and double the manufacturing revenue during the current financial year. Further substantial market development efforts are being taken for increasing exports of wires and wire ropes which will yield positive results. The increase in capacity utilization and cost reduction will significantly improve margins and profitability.
Further, the interest rate reduction measures of the RBI combined with the Company’s improved fiscal discipline and improved external ratings is expected to yield positive results for the company reducing financial costs during the current financial year 2016-17. Improved volumes will also increase in better purchase terms for the Company’s purchase of steel and power and increasing output with marginal increase in overhead costs will result in improved profitability.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
112.280 |
81.264 |
|
|
|
|
|
Total |
112.280 |
81.264 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G70437553 |
100140531 |
INDIAN BANK |
24/11/2017 |
- |
- |
27000000.0 |
IND MSME BRANCH,NO.10, 2ND FLOOR, K G ROAD, BANGALORE KA560009IN |
|
2 |
G46127577 |
100103420 |
HERO FINCORP LIMITED |
02/05/2017 |
- |
- |
16591050.0 |
34, COMMUNITY CENTRE, BASANT LOKVASANT VIHAR, NEW DELHI DE110057IN |
|
3 |
G29859071 |
10457926 |
UNION BANK OF INDIA |
23/09/2013 |
08/12/2016 |
- |
1917200000.0 |
INDUSTRIAL FINANCE BRANCH NO.23, ARCHANA COMPLEX1ST FLOOR, J .C. ROAD, BANGALORE KA560002IN |
|
4 |
C75002527 |
10556818 |
BANK OF BARODA |
23/03/2015 |
- |
18/12/2015 |
449000000.0 |
MID CORPORATE BRANCH, 2ND FLOOR, "NITESH LEXINGTON AVENUE", BRIGADE ROAD, BANGALORE KA560025IN |
|
5 |
C71886790 |
80042180 |
UNION BANK OF INDIA |
24/10/2005 |
05/01/2012 |
27/11/2015 |
231700000.0 |
INDUSTRIAL FINANCE BRANCHNO.23, ARCHANA COMPLEX, J.C. ROAD, BANGALORE KA560002IN |
|
6 |
C71886857 |
10163811 |
UNION BANK OF INDIA |
15/05/2009 |
- |
24/11/2015 |
990000.0 |
DAVANGERE BRANCH DAVANGERE KA577002IN |
|
7 |
B90811423 |
10013233 |
STATE BANK OF INDIA |
26/07/2006 |
24/12/2011 |
14/11/2013 |
575000000.0 |
SME KUMARAPARK BRANCH, NO.179, 2ND FLOOR, S C ROAD, SESHADRIPURAM, BANGALORE KA560020IN |
|
8 |
A28951218 |
80039884 |
KSFC LIMITED |
19/11/2002 |
- |
10/09/2007 |
8000000.0 |
THIMMIAIH ROAD BANGALORE KA560052IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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
|
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 |
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.