|
|
|
MIRA INFORM REPORT
|
Report No. : |
486597 |
|
Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SKM STEELS LIMITED |
|
|
|
|
Registered
Office : |
30, 2nd
Floor, C.P. Tank Road, Mumbai – 400004, Maharashtra, India |
|
Tel. No.: |
91-22-66181111 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
01.12.1994 |
|
|
|
|
Com. Reg. No.: |
11-083403 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 68.592 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1994PLC083403 |
|
|
|
|
IEC No.: |
0396003591 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS7801F |
|
|
|
|
GSTIN/UIN : |
27AADCS7801F1ZG |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
(Registered
Activity) |
|
|
|
|
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1994 and it is a manufacturer of
wire of steel by cold drawing or stretching. It is also a wholesaler of
metals and metals ores. Management has failed to file its latest financials with Government
Registry. As per financial of March 2016, the company has registered a decline
in its revenue as compared to its previous year’s revenue and has reported
minimal profit margin of 0.73%. Rating takes into consideration the company’s established track record
of business operations marked by sound networth base along with average debt
coverage indicators and decent liquidity position. Rating also takes into account the vast experience of the promoters in
the steel trading industry, having a comprehensive product portfolio coupled
with its business association with Tata Steel Limited (TSL) enabling greater
market access, and long standing relationship with its well established
clientele base. Further, the company has reported a good earnings per share of INR 21.77
against its face value of INR 10. However, rating strength is partially offset by exposure to inherent
cyclicality of the metals industry and prevailing intense competition in the
steel trading business. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings 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 |
21.04.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
21.04.2017 |
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 17.01.2018
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. Kamlesh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66276800 |
|
|
|
|
Name : |
Mr. Ravi |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-22-66181111 |
|
Date : |
16.01.2018 |
MANAGEMENT
NON-COOPERATIVE (Tel. No.: 91-22-27403000)
(Tel. No.: 91-22-27403000
Ringing)
LOCATIONS
|
Registered Office : |
30, 2nd
Floor, C.P. Tank Road, Mumbai – 400004, Maharashtra, India |
|
Tel. No.: |
91-22
4071 6666 |
|
Fax No.: |
91-22-23886165 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
SKM House, 12,
Khetwadi 6th Lane, Mumbai – 400004, Maharashtra, India |
|
|
|
|
Corporate Office: |
1120-B, Plaza Panchshil, 11th Floor, 55 Hunghes Road,
Gamdevi, Mumbai – 400 007, Maharashtra, India |
|
Tel. No.: |
91-22-66181111 |
|
Fax No.: |
91-22-66181122 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Sandhurst Building, 524, Opera House, S.V.P. Road, Mumbai - 400004, Maharashtra, India |
|
Tel No: |
91-22-43432000 |
|
Fax No: |
91-22-23812388 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
66, C.P. Tank Road, Near Gulalwadi Circle, Mumbai - 400004, Maharashtra India. |
|
Tel No: |
91-22-66272727 |
|
Fax No: |
91-22-66570103 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Plot No J93, J93/1, MIDC Taloja, Navi Mumbai - 410208, Maharashtra, India. |
|
Tel No: |
91-22-27403000 |
|
Fax No: |
91-22-27402548 |
|
|
|
|
Factory 4 : |
Plot No B1-B7, Dhruv Logistics Park, MIDC Taloja, Navi Mumbai - 410208, Maharashtra, India. |
|
Tel No: |
91-22-43432000 |
|
Fax No: |
91-22-23812388 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Chirag Shantilal Shah |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
704, Gokul Apartments 7th Floor, Khetwadi, 14,
Back Road, Mumbai – 400004, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.03.1977 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.01.2016 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAGPS8472C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00081637 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Kalpesh Harilal Chowdhary |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
405, 4th Floor, Rajmala Premises CHS, 87-B, Nepeansea Road, Malabar Hill Mumbai - 400006, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
06.11.1971 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.01.2016 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AABPC9287C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00084800 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Amit Kirtilal Shah |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No. 10001, Garden View, Nepeansea Road, Mumbai – 400006,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.08.1980 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.01.2016 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ALTPS7632L |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00105932 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Sejal Chirag Shah |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
704, Gokkul Apartment, Khetwadi Back Road, Mumbai - 400004, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.07.1978 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.01.2017 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02193523 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Anju Kalpesh Chowdhary |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
405, 4th Floor, 87-B, Rajmala Premises CHS Nepeansea Road, Mumbai -400006, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
17.08.1976 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.01.2017 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07695032 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ram Anugarh Singh |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
B/34, Abhishek Apartmens, 2nd Cross Road, Lokhandwala Complex, Andheri (West), Mumbai 400053, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.01.1946 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
24.06.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00369580 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Gautam Vinodkumar Saraf |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Shreeram Bhawan, Ramdas Peth, Nagpur – 440010, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.03.2017 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02624109 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Neha Saraf |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Shreeram Bhawan, Canal Road, Ramdaspeth, Nagpur - 440010, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.12.1981 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.09.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
03022483 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mrs. Deepika Mahadev Andurlekar |
|
Designation : |
Company Secretary |
|
Address : |
602, A Wing, Bldg. No. 1, Om Sai Ganga CHS Jeevan Vikas Marg, Vile Parle East, Mumbai - 400057, Maharashtra, India |
|
Date of Appointment : |
10.09.2016 |
|
PAN No.: |
AZGPA5121P |
|
|
|
|
Name : |
Mr. Kamlesh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 31.03.2016
|
Names of Shareholders |
No. of Shares |
|
Kirtilal M. Shah jointly with Veena K. Shah |
470941 |
|
Amit Kirtilal Shah jointly with Veena K. Shah |
473541 |
|
SKM Constructions Private Limited, India |
400000 |
|
Veena Kirtilal Shah jointly with Kirtilal M. Shah |
474916 |
|
Sapan Chemicals Limited (Earlier Knows as Suryadeep Salt and Chemicals Limited) |
12000 |
|
Kailash Ficom Limited, India |
18000 |
|
Zen Shaving Limited, India |
4000 |
|
Tribhuvan Housing Limited, India |
10000 |
|
Kirtilal M. Shah HUF |
483541 |
|
Ruchita Amit Shah jointly with Amit Kirtilal Shah |
480221 |
|
Amit Kirtilal Shah HUF |
491916 |
|
Anju Kalpesh Chowdhary jointly with Kalpesh Chowdhary |
405718 |
|
Sejal Chirag Shah jointly with Chirag S. Shah |
394368 |
|
SKM Capital and Holdings Private Limited, India |
15000 |
|
Shree Parul Developers Private Limited, India |
110000 |
|
Megha Bhavesh Shah |
125000 |
|
Juvenile Capfin Private Limited, India |
490000 |
|
Total |
4859162 |
|
Names of Preference Shareholder |
No. of Shares |
|
Veena Kirtilal Shah |
2000000 |
|
Total |
2000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family- Indian) |
75.64 |
|
Promoters (Body corporate) |
10.80 |
|
Public/Other than promoters [Individual/Hindu Undivided Family- Foreign national (other than NRI)] |
2.57 |
|
Public/Other than promoters (Body corporate) |
10.99 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
(Registered
Activity) |
||||||
|
|
|
||||||
|
Products / Services
: |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Available |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
M. C. Doshi and Company Chartered Accountants |
|
Address : |
219, Plaza Panchshil, 'B' Wing, Hughes Road, Behind Dharam Palace, Mumbai – 400007, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAUFM8321L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary company
: (As on 31.03.2016) |
(U45200MP2007PTC019444) |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : (As on 31.03.2016) |
(U65944MH1983PTC031087)
|
CAPITAL STRUCTURE
As on 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11500000 |
Equity Shares |
INR 10/- each |
INR 115.000 Million |
|
5000000 |
Preference Shares |
INR 10/- each |
INR 50.000 Million |
|
|
Total |
|
INR 165.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4859162 |
Equity Shares |
INR 10/- each |
INR 48.592 Million |
|
2000000 |
Preference Shares |
INR 10/- each |
INR 20.000
Million |
|
|
Total |
|
INR 68.592 Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
68.592 |
68.592 |
48.592 |
|
(b) Reserves &
Surplus |
1839.579 |
1733.811 |
1596.778 |
|
(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) |
1908.171 |
1802.403 |
1645.370 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
86.115 |
110.763 |
114.913 |
|
(b) Deferred tax
liabilities (Net) |
16.544 |
17.599 |
18.252 |
|
(c) Other long term
liabilities |
29.765 |
30.920 |
31.961 |
|
(d) long-term provisions |
2.814 |
2.348 |
7.477 |
|
Total Non-current
Liabilities (3) |
135.238 |
161.630 |
172.603 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3288.810 |
4145.581 |
3248.306 |
|
(b) Trade payables |
594.270 |
289.460 |
343.225 |
|
(c) Other current
liabilities |
51.606 |
65.850 |
126.518 |
|
(d) Short-term provisions |
21.795 |
25.566 |
14.896 |
|
Total Current Liabilities
(4) |
3956.481 |
4526.457 |
3732.945 |
|
|
|
|
|
|
TOTAL |
5999.890 |
6490.490 |
5550.918 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
670.662 |
690.607 |
701.787 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
38.650 |
0.000 |
40.319 |
|
(iv) Intangible assets
under development |
2.124 |
1.000 |
0.000 |
|
(b) Non-current
Investments |
26.719 |
9.810 |
14.714 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
331.622 |
391.830 |
164.221 |
|
(e) Other Non-current
assets |
5.251 |
5.252 |
5.252 |
|
Total Non-Current Assets |
1075.028 |
1098.499 |
926.293 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1385.365 |
1237.708 |
933.778 |
|
(c) Trade receivables |
3309.116 |
3784.543 |
3285.826 |
|
(d) Cash and cash
equivalents |
40.818 |
22.823 |
62.222 |
|
(e) Short-term loans and
advances |
188.152 |
343.964 |
340.038 |
|
(f) Other current assets |
1.411 |
2.953 |
2.761 |
|
Total Current Assets |
4924.862 |
5391.991 |
4624.625 |
|
|
|
|
|
|
TOTAL |
5999.890 |
6490.490 |
5550.918 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
14497.610 |
17370.826 |
15860.572 |
|
|
Other Income |
141.953 |
99.240 |
109.664 |
|
|
TOTAL |
14639.563 |
17470.066 |
15970.236 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1713.268 |
2591.581 |
1922.028 |
|
|
Purchases of
Stock-in-Trade |
11388.997 |
13358.305 |
12018.282 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(206.230) |
(339.701) |
391.510 |
|
|
Employees benefits
expense |
108.423 |
83.995 |
75.883 |
|
|
CSR expenditure |
2.425 |
1.745 |
1.636 |
|
|
Exceptional items |
0.000 |
0.000 |
(1.291) |
|
|
Other expenses |
1042.858 |
1052.156 |
871.595 |
|
|
TOTAL |
14049.741 |
16748.081 |
15279.643 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
589.822 |
721.985 |
690.593 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
351.257 |
439.029 |
460.254 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
238.565 |
282.956 |
230.339 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
71.953 |
75.436 |
55.048 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
166.612 |
207.520 |
175.291 |
|
|
|
|
|
|
|
Less |
TAX |
60.851 |
70.615 |
81.425 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
105.761 |
136.905 |
93.866 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
239.936 |
323.303 |
264.486 |
|
|
Other Income |
0.156 |
1.438 |
0.000 |
|
|
TOTAL EARNINGS |
240.092 |
324.741 |
264.486 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
313.753 |
1068.882 |
614.65 |
|
|
Trade goods |
140.751 |
110.241 |
74.485 |
|
|
TOTAL IMPORTS |
454.504 |
1179.123 |
689.135 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
21.77 |
28.17 |
19.32 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
3.380 |
2.001 |
66.678 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1313.104 |
(528.472) |
616.931 |
|
Net cash flow from operating activity |
1256.575 |
(578.838) |
559.991 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
83.31 |
79.52 |
75.62 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
4.38 |
4.59 |
4.83 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
16.56 |
6.62 |
8.99 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.43 |
0.58 |
0.74 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.83 |
1.04 |
0.93 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.67 |
0.71 |
0.71 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.77 |
2.36 |
2.08 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.07 |
2.51 |
2.27 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.37 |
0.38 |
0.45 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.68 |
1.64 |
1.50 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
0.73 |
0.79 |
0.59 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.76 |
2.11 |
1.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.54 |
7.60 |
5.70 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.24 |
1.19 |
1.24 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.89 |
0.92 |
0.99 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.32 |
0.28 |
0.30 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
49.25 |
62.08 |
70.59 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.24 |
1.19 |
1.24 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
48.592 |
68.592 |
68.592 |
|
Reserves & Surplus |
1596.778 |
1733.811 |
1839.579 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1645.370 |
1802.403 |
1908.171 |
|
|
|
|
|
|
long-term borrowings |
114.913 |
110.763 |
86.115 |
|
Short term borrowings |
3248.306 |
4145.581 |
3288.810 |
|
Current Maturities of
Long term debt |
66.678 |
2.001 |
3.380 |
|
Total borrowings |
3429.897 |
4258.345 |
3378.305 |
|
Debt/Equity ratio |
2.085 |
2.363 |
1.770 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
15860.572 |
17370.826 |
14497.610 |
|
|
|
9.522 |
(16.540) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
15860.572 |
17370.826 |
14497.610 |
|
Profit |
93.866 |
136.905 |
105.761 |
|
|
0.59% |
0.79% |
0.73% |
ABRIDGED BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
68.592 |
68.592 |
|
(b) Reserves &
Surplus |
|
1745.012 |
1689.395 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
1813.604 |
1757.987 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
191.033 |
145.654 |
|
(b) Deferred tax
liabilities (Net) |
|
16.544 |
17.598 |
|
(c) Other long term
liabilities |
|
29.765 |
30.920 |
|
(d) long-term provisions |
|
2.814 |
2.348 |
|
Total Non-current
Liabilities (3) |
|
240.156 |
196.520 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
3338.294 |
4145.581 |
|
(b) Trade payables |
|
658.625 |
291.190 |
|
(c) Other current
liabilities |
|
57.044 |
69.812 |
|
(d) Short-term provisions |
|
21.795 |
25.231 |
|
Total Current Liabilities
(4) |
|
4075.758 |
4531.814 |
|
|
|
|
|
|
TOTAL |
|
6129.518 |
6486.321 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
670.663 |
690.607 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
38.650 |
0.000 |
|
(iv) Intangible assets
under development |
|
2.124 |
1.000 |
|
(b) Non-current
Investments |
|
313.962 |
289.944 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
154.019 |
87.169 |
|
(e) Other Non-current
assets |
|
5.251 |
5.251 |
|
Total Non-Current Assets |
|
1184.669 |
1073.971 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1385.365 |
1237.708 |
|
(c) Trade receivables |
|
3314.634 |
3790.066 |
|
(d) Cash and cash
equivalents |
|
41.633 |
23.695 |
|
(e) Short-term loans and
advances |
|
201.807 |
357.928 |
|
(f) Other current assets |
|
1.410 |
2.953 |
|
Total Current Assets |
|
4944.849 |
5412.350 |
|
|
|
|
|
|
TOTAL |
|
6129.518 |
6486.321 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
14497.610 |
17370.826 |
|
|
Other Income |
|
92.563 |
99.501 |
|
|
TOTAL |
|
14590.173 |
17470.327 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1713.268 |
2591.581 |
|
|
Purchases of
Stock-in-Trade |
|
11388.233 |
13358.305 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(206.230) |
(339.701) |
|
|
Employees benefits
expense |
|
108.851 |
93.031 |
|
|
CSR expenditure |
|
2.425 |
1.745 |
|
|
Other expenses |
|
1043.555 |
1044.256 |
|
|
TOTAL |
|
14050.102 |
16749.217 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
540.071 |
721.110 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
351.322 |
439.034 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
|
188.749 |
282.076 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
71.953 |
75.436 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
116.796 |
206.640 |
|
|
|
|
|
|
|
Less |
TAX |
|
60.851 |
70.281 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
55.945 |
136.359 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
11.51 |
28.06 |
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 |
No |
|
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 |
OPERATION AND STATE
OF COMPANY’S AFFAIRS (As on 31.03.2016)
There is a fall in the revenue of the Company during the financial year. The Company has earned revenue of INR 14639.563 Million in the year as compared to previous year’s revenue of INR 17470.065 Million. The profits after tax stood at INR 105.761 Million as compared to INR 136.905 Million in the previous year.
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term borrowings |
|
|
|
Loans and advances from others |
270.700 |
76.579 |
|
Loans and advances from directors |
366.200 |
428.719 |
|
Intercorporate deposits |
0.000 |
515.266 |
|
Loans repayable on demand from others |
25.000 |
0.000 |
|
Loans repayable on demand from banks |
21.320 |
0.000 |
|
Total |
683.220 |
1020.564 |
INDEX OF CHARGES
|
Charges Registered |
|||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G62854435 |
100134453 |
Axis Bank Limited |
05/10/2017 |
- |
150000000.0 |
Corporate Credit Service Unit - Andheri, SenoritaPlot 21, Gulmohar Road, Near Juhu Circle, Vile Parle West Mumbai MAHARASHTRA 400065 INDIA |
|
2 |
G50542620 |
100116049 |
RBL BANK LIMITED |
17/07/2017 |
- |
150000000.0 |
SHAHUPURI, KOLHAPUR, KOLHAPUR MAHARASHTRA 416001 INDIA |
|
3 |
G49120124 |
100111972 |
YES BANK LIMITED |
29/06/2017 |
- |
27000000.0 |
9th Floor, Nehru Centre, Discovery of India Dr. Annie Besant Road, Worli Mumbai MAHARASHTRA 400018 INDIA |
|
4 |
G40892903 |
100089488 |
ADITYA BIRLA FINANCE LIMITED |
27/02/2017 |
- |
300000000.0 |
Indian Rayon Compound, Veraval GUJARAT 362266 INDIA |
|
5 |
C39642806 |
10541392 |
State Bank of India |
01/01/2015 |
- |
500000000.0 |
Gresham House, Ground Floor Sir P. M. Road, Fort Mumbai MAHARASHTRA 400021 INDIA |
|
6 |
B96181896 |
10511862 |
BANK OF INDIA |
21/11/2013 |
- |
20000000.0 |
LARGE CORPORATE BRANCH, FREE PRESS BUILDING, 9th FLOOR, FREE PRESS JOURNAL MARG, NARIMAN POINT, MUMBAI MAHARASHTRA 400021 INDIA |
|
7 |
C18615518 |
10406046 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
01/02/2013 |
03/07/2014 |
350000000.0 |
One Forbes, Dr. V. B. Gandhi Marg, Fort Mumbai MAHARASHTRA 400001 INDIA |
|
8 |
B62231139 |
10387084 |
Standard Chartered Bank |
12/10/2012 |
- |
250000000.0 |
Abhijeet II, Ground Floor Near Mithakali Six Road Ahmedabad GUJARAT 380006 INDIA |
|
9 |
B15816846 |
10294191 |
EDELWEISS FINANCE & INVESTMENTS LIMITED |
29/06/2011 |
- |
60000000.0 |
2nd Floor, MB Towers, Plot No 5,Road No 2, Banjara Hills Hyderabad TELANGANA 500034 INDIA |
|
10 |
B12247367 |
10285489 |
BANK OF INDIA - LEAD BANK OF BOI CONSORTIUM |
30/03/2011 |
- |
399500000.0 |
LARGE CORPORATE BRANCH, FREE PRESS BUILDING,9th FLOOR, FREE PRESS JOURNAL MARG, NARIMAN POINT, MUMBAI MAHARASHTRA 400021 INDIA |
FIXED ASSETS
- Land
- Building
- Factory Building
- Plant and Equipment
- Furniture and Fixture
- Vehicles
- Motor Vehicle
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 63.76 |
|
|
1 |
INR 87.91 |
|
Euro |
1 |
INR 78.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWE |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SUD |
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 |
YES |
|
--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.