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MIRA INFORM REPORT
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Report No. : |
486015 |
|
Report Date : |
16.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
HUBERGROUP INDIA PRIVATE LIMITED (w.e.f. 29.05.2015) |
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|
|
|
Formerly Known
As : |
MICRO INKS PRIVATE
LIMITED (w.e.f. 04.09.2014) MICRO INKS
LIMITED (w.e.f. 03.03.2004) |
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|
|
Registered
Office : |
Plot No. 808/E, Phase-II, GIDC, Vapi, Valsad – 396195, Gujarat |
|
Tel. No.: |
91-280-3048000 |
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|
Country : |
India |
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Financials (as
on) : |
31.12.2016 |
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Date of
Incorporation : |
13.11.1991 |
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Com. Reg. No.: |
04-016598 |
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Capital
Investment / Paid-up Capital : |
INR 248.730
Million |
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|
|
CIN No.: [Company Identification
No.] |
U24220GJ1991PTC016598 |
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IEC No.: |
0392018861 |
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GSTIN: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTM01621E |
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PAN No.: [Permanent Account No.] |
AAACH7063F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing of various types of Printing Inks, Resins, Adhesives, Pigments, Flush Colours, Wire Enamels, Retarders and their intermediates [Registered Activity] |
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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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Maximum Credit Limit : |
USD 39600000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Hubergroup India private Limited is a subsidiary of “MHM Holding GMBH, Germany” and was incorporated in the year is a manufacturer of various types of Printing Inks, Resins, Adhesives, Pigments, Flush Colours, Wire Enamels, Retarders and their intermediates. For the financial year 2016, the company has achieved slight growth in its revenue as compared to the previous year along with a fair profit margin of 11.03%. The sound financial risk profile of the company is marked by adequate net worth base along with strong debt coverage metrics due to debt free balance sheet profile. Rating takes into account the subject’s long established track record of business operations along with extensive experience of its promoters Payment terms are reported to be regular. In 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 |
|
Rating |
Long Term Rating = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk |
|
Date |
12th July 2017 |
|
Rating Agency Name |
CARE RATING |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
12th July 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 16.01.2018
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 BY
|
Name : |
Mr. Dilip Chuhan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-28364313 |
|
Date: |
13.01.2018 |
91-22-28360201/ 91-260-3048000 (management
non cooperative)
91-22-28364313/ 28360201/ 91-260-3048000
(Ringing)
LOCATIONS
|
Registered Office : |
Plot No.808/E, Phase - II, G. I. D. C. Vapi, Valsad –
396195, Gujarat, India |
|
Tel. No.: |
91-260-3032100/3048000 |
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Fax No.: |
91-260-3048 008 |
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E-Mail : |
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Website: |
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Marketing Headquarters/
Sales and Support - International Business Division : |
907, Windfall Sahar Plaza, J. B. Nagar, Andheri (East), Mumbai -
400059, Maharashtra, India |
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Tel No.: |
91-22-28360201/ 28364313 |
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Fax No : |
91-22-28379660/ 28222222 |
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E-mail : |
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Regional Office: |
C-13 Sector 3, Phase 1, Noida – 201301, Uttar Pradesh, India |
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Factory : |
Located at:
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Branch Offices : |
Located At:
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Western Region 1: |
302, Shapath II, Opposite Rajpath Club, Sarkhej Gandhinagar Highway,
Ahmedabad -380015, Gujarat, India |
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Tel No.: |
91-79-26871541-43 |
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Fax No : |
91-79-26871544 |
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Western Region 2 : |
Located at:
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Northern region : |
Located at:
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Southern Region : |
Located at:
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Eastern Region : |
9, Transport Depot Road, Kolkata-700088, West Bengal, India |
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Tel No.: |
91-33-24496134 / 36 |
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Fax No : |
91-33-24495051 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Ashwani Kumar Vishwanath Bhardwaj |
|
Designation : |
Managing Director |
|
Address : |
H.No.4478, Sector - 8, PKT 5 and 6 Vasant
Kunj, New Delhi – 110070, India |
|
Date of Birth/Age : |
18.03.1958 |
|
Qualification : |
B.Sc. MBA |
|
Date of Appointment : |
31.01.2007 |
|
PAN No.: |
AFBPB0925K |
|
DIN No.: |
01515689 |
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|
|
|
Name : |
Mr. Heinrich W. Ringer |
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Designation : |
Director |
|
Address : |
Bilakhia House, Muktanand Marg, Chala,
Vapi, Valsad - 396191, Gujarat, India |
|
Date of Birth/Age : |
12.12.1944 |
|
Qualification : |
MBA |
|
Date of Appointment : |
03.02.2006 |
|
DIN No.: |
01540491 |
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|
|
|
Name : |
Ursula Borgmann |
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Designation : |
Casual Vacancy Director |
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Address : |
Microink Company, Bilakhia House, Chala, Vapi, Valsad - 396191, Gujarat, India |
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Date of Birth/Age : |
07.09.1944 |
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Qualification : |
Graduate Degree in Chemical Engineering |
|
Date of Appointment : |
30.07.2014 |
|
PAN No.: |
06930369 |
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|
|
|
Name : |
Michael Geiger |
|
Designation : |
Director |
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Address : |
Kreuzweg 35 B, Stockdorf, 82131, Germany |
|
Date of Appointment : |
03.02.2006 |
|
PAN No.: |
01541193 |
KEY EXECUTIVES
|
Name : |
Alpesh Mansukhlal Chaniyara |
|
Designation : |
Company Secretary |
|
Address : |
Block No.2, Shree Chala Co-Operative Housing Society, Vapi, Daman
Road, Chala, Vapi, Valsad - 396191, Gujarat, India |
|
Date of Birth/Age : |
13.06.1977 |
|
Date of Appointment : |
01.06.2011 |
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PAN No.: |
AEHPC5783R |
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|
|
|
Name : |
Mr. Sandeep Bhandari |
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Designation : |
Chief Financier Officer |
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Address : |
A – 3, Payal Apartment, 20 Milan Park Society, President
Hotel Lane, Navrangpura, Ahmedabad-380009, Gujarat, India |
|
Date of Appointment : |
06.05.2014 |
|
PAN No.: |
AAUPB7223N |
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|
|
|
Name : |
Jagdish Patel and Company |
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Designation : |
Company Secretaries |
|
Address : |
Rozy Empire, Silvassa Road, Opposite PWD Rest House, Vapi, Valsad-396191, Gujarat, India |
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Tel. No: |
91-260-2431655 |
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Mob. No: |
91- 9327545141, 9324545141 |
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Email: |
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|
|
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|
Name : |
Mr. Dilip Chuhan |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
SHAREHOLDING DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
AS ON 12.05.2017
|
Category |
Percentage |
|
Promoters - Other Foreign Company |
99.69 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
0.29 |
|
Public/Other than promoters - Body corporate |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of various types of
Printing Inks, Resins, Adhesives, Pigments, Flush Colours, Wire Enamels,
Retarders and their intermediates [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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
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 : |
Not Divulged |
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Bankers : |
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Auditors : |
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|
Name : |
Deloitte Haskins
and Sells Chartered
Accountants |
|
Address : |
27 - 32 Floor, Tower 3, Indiabulls Finance Center, Elphinstone Mill compound, Senapati Bapat Road, Elphinstone Road, Mumbai -400013, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
MHM Holding GmbH, Germany |
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Fellow Subsidiary
Company : |
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Associate: |
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Subsidiary company: |
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CAPITAL STRUCTURE
AS ON 31.12.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
INR 10000/- each |
INR 300.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24873 |
Equity Shares |
INR 10000/- each |
INR 248.730
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 |
248.730 |
248.730 |
248.730 |
|
(b) Reserves and Surplus |
13624.510 |
12176.880 |
10864.764 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
13873.240 |
12425.610 |
11113.494 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
252.160 |
|
(b) Deferred tax liabilities (Net) |
305.200 |
292.420 |
348.997 |
|
(c) Other long-term
liabilities |
317.170 |
288.750 |
277.538 |
|
(d) long-term
provisions |
160.050 |
152.700 |
135.894 |
|
Total Non-current
Liabilities (3) |
782.420 |
733.870 |
1014.589 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
1408.499 |
|
(b) Trade
payables |
3108.740 |
2764.320 |
2440.928 |
|
(c) Other
current liabilities |
339.770 |
635.840 |
414.320 |
|
(d) Short-term
provisions |
689.540 |
771.890 |
896.188 |
|
Total Current
Liabilities (4) |
4138.050 |
4172.050 |
5159.935 |
|
|
|
|
|
|
TOTAL |
18793.710 |
17331.530 |
17288.018 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
3467.400 |
3321.180 |
3694.240 |
|
(ii)
Intangible Assets |
8.700 |
9.110 |
14.379 |
|
(iii) Tangible assets
capital work-in-progress |
95.270 |
172.710 |
10.928 |
|
(iv)
Intangible assets under development |
3.320 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2212.940 |
2212.940 |
2037.780 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
607.410 |
649.630 |
622.784 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
6395.040 |
6365.570 |
6380.111 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3643.930 |
3358.970 |
3230.936 |
|
(c) Trade
receivables |
5553.180 |
6794.460 |
7156.416 |
|
(d) Cash and
bank balances |
2699.260 |
399.780 |
25.543 |
|
(e)
Short-term loans and advances |
278.490 |
212.020 |
401.665 |
|
(f) Other
current assets |
223.810 |
200.730 |
93.347 |
|
Total
Current Assets |
12398.670 |
10965.960 |
10907.907 |
|
|
|
|
|
|
TOTAL |
18793.710 |
17331.530 |
17288.018 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
23711.280 |
23547.070 |
25255.163 |
|
|
Other Income |
440.060 |
389.050 |
115.806 |
|
|
TOTAL |
24151.340 |
23936.120 |
25370.969 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
15695.960 |
16058.020 |
18361.918 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(116.140) |
(7.120) |
(26.589) |
|
|
Employee benefit expense |
1165.890 |
890.420 |
776.946 |
|
|
CSR expenditure |
54.000 |
45.000 |
0.000 |
|
|
Other expenses |
3140.480 |
3000.620 |
3376.372 |
|
|
TOTAL |
19940.190 |
19986.940 |
22488.647 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
4211.150 |
3949.180 |
2882.322 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
40.110 |
102.510 |
175.539 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4171.040 |
3846.670 |
2706.783 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
392.810 |
454.920 |
412.293 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
3778.230 |
3391.750 |
2294.490 |
|
|
|
|
|
|
|
Less |
TAX |
1162.280 |
991.720 |
709.031 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2615.950 |
2400.030 |
1585.459 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
12614.340 |
12521.820 |
14194.132 |
|
|
TOTAL EARNINGS |
12614.340 |
12521.820 |
14194.132 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
8064.170 |
7998.240 |
9502.441 |
|
|
Components and spare
parts |
63.620 |
25.830 |
26.717 |
|
|
Capital Goods |
21.770 |
42.820 |
6.477 |
|
|
TOTAL IMPORTS |
8149.560 |
8066.890 |
9535.635 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
105172.28 |
96491.38 |
63742.21 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Maturities of Long term debt |
0.000 |
264.640 |
252.160 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
5311.310 |
4550.800 |
2800.454 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
4080.790 |
3527.320 |
1992.145 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
85.48 |
105.32 |
103.43 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
4.27 |
3.47 |
3.53 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
72.29 |
62.83 |
48.52 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
1.16 |
1.18 |
0.89 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
1.18 |
1.13 |
0.77 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.22 |
0.26 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.00 |
0.02 |
0.17 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.30 |
0.34 |
0.46 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.26 |
0.28 |
0.33 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
104.99 |
38.52 |
16.42 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
11.03 |
10.19 |
6.28 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
13.92 |
13.85 |
9.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
18.86 |
19.32 |
14.27 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
3.00 |
2.63 |
2.11 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
2.12 |
1.82 |
1.49 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.74 |
0.72 |
0.64 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.00 |
1.06 |
7.69 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
3.00 |
2.63 |
2.11 |
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 |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
248.730 |
248.730 |
248.730 |
|
Reserves & Surplus |
10864.764 |
12176.880 |
13624.510 |
|
Net
worth |
11113.494 |
12425.610 |
13873.240 |
|
|
|
|
|
|
Long-term borrowings |
252.160 |
0.000 |
0.000 |
|
Short term borrowings |
1408.499 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
252.160 |
264.640 |
0.000 |
|
Total
borrowings |
1912.819 |
264.640 |
0.000 |
|
Debt/Equity
ratio |
0.172 |
0.021 |
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 |
25255.163 |
23547.070 |
23711.280 |
|
|
|
(6.763) |
0.697 |
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 |
25255.163 |
23547.070 |
23711.280 |
|
Profit/ (Loss) |
1585.459 |
2400.030 |
2615.950 |
|
|
6.28
% |
10.19
% |
11.03
% |
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 OPERATIONS
For the year,
the business operations of the Company, domestic as well as Exports, forms the
basis for review of operational performance by the management
ECONOMY AND MARKETS
The year 2016
was a difficult year because of several challenges in the domestic and
international markets. As a result, the business activity was subdued in almost
all the geographies. Developments like U.K. vote in favor of leaving the
European Union (Brexit) and economic problems in the gulf region make the
business environment even more difficult.
PERFORMANCE
In spite of
the global challenges and volatile markets your company delivered a robust
performance despite considerable headwinds. The Company's improvement in
execution and operational efficiencies resulted in significant cost savings.
During the
year oil and commodity prices show a modest increase from the earlier lows,
however the overall impact was still, lower raw material prices and
corresponding increase in profit margins.
STATE OF AFFAIRS
The Company is
engaged in the business of manufacturing of printing inks and related products.
There has been no change in the business of the Company during the financial
year ended December 31, 2016.
Net Revenue from
Operations for the year ended December 31, 2016 was at INR 23711.280 million
marginally higher than previous year. However, due to lower raw material cost,
the profit before tax for the year was at INR 3778.230 million representing an
increase of 11 percent over the previous year. After providing for income tax
expenses of INR 1162.280 million, profit after tax was INR 2615.950 million.
OUTLOOK
The global
economic climate continues to be volatile, uncertain and prone to geo-political
risks. The impact on global economic growth and business performance, however,
has been mixed so far. The U.S. economy will likely see a modest upside from
stronger business confidence, but this is not the only possible scenario in the
outlook. Europe and Japan are also experiencing, somewhat surprisingly,
stronger internal growth dynamics. In contrast, uncertainties of different
kinds are weighing down on emerging markets' growth prospects. Outlook for the
Indian economy remains positive.
CORPORATE INFORMATION
Pursuant to the resolution passed by the members in the Annual General Meeting held on May 15, 2015 and the approval granted by the Registrar of Companies, Gujarat, the name of the Company has been changed from "Micro Inks Private Limited" to "Hubergroup India Private Limited" with effect from May 29, 2015.
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B74024357 |
10319236 |
DBS Bank Limited |
01/11/2011 |
03/04/2013 |
- |
450000000.0 |
Upper Ground Floor, Birla Road,25 Barakhamba Road, New DelhiDelhiDL110001IN |
|
2 |
B73979023 |
10106131 |
The Hongkong and Shanghai Banking Corporation Limited |
18/06/2008 |
03/04/2013 |
- |
1000000000.0 |
52/60, M. G. Road,FortMumbaiMH400001IN |
|
3 |
B73241507 |
80012233 |
State Bank of India |
17/09/2005 |
03/04/2013 |
- |
2150000000.0 |
3rd Floor, State Bank Bhavan,Madam Kama Road, Nariman Point,MumbaiMH400021IN |
|
4 |
B73084725 |
80012217 |
ICICI Bank Limited |
30/01/2005 |
03/04/2013 |
- |
1750000000.0 |
Landmark, Race Course Circle,Alkapuri,BarodaGJ390015IN |
|
5 |
B15306137 |
80012219 |
STANDARD CHARTERED BANK |
27/09/2001 |
04/06/2011 |
- |
1800000000.0 |
90, M. G. ROAD,FORTMUMBAIMH400001IN |
|
6 |
G29907672 |
90103243 |
Axis Bank Limited |
14/05/2001 |
19/05/2011 |
07/12/2016 |
350000000.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
7 |
G12167680 |
10402321 |
The Bank of Nova Scotia Asia Limited |
25/01/2013 |
03/04/2013 |
16/09/2016 |
550000000.0 |
One Raffles Quay#20-01 North TowerSingaporeNA048583SG |
|
8 |
G12205282 |
10397775 |
The Bank of Nova Scotia |
10/01/2013 |
03/04/2013 |
15/09/2016 |
500000000.0 |
Mittal Tower, "B" Wing,Nariman PointMumbaiMH400021IN |
|
9 |
C37045580 |
10285710 |
Australia and New Zealand Banking Group Limited |
09/05/2011 |
03/04/2013 |
10/12/2014 |
920000000.0 |
10 Collyer Quay#18-00 Ocean Financial CentreSingaporeNA049315SG |
|
10 |
B88960653 |
10205031 |
DBS Bank Limited |
20/02/2010 |
28/02/2012 |
11/11/2013 |
277800000.0 |
Credit Control Unit, 3rd Floor, Fort House,Dr. D. N. Road, FortMumbaiMH400001IN |
FIXED ASSETS:
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer 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 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 63.41 |
|
|
1 |
INR 87.18 |
|
Euro |
1 |
INR 77.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
PYK |
|
|
|
|
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.