|
|
|
MIRA INFORM REPORT
|
Report No. : |
486677 |
|
Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
TOYO INK INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
82, Functional Industrial Estate, Patparganj Industrial Area,
Patparganj, Delhi – 110092 |
|
Tel. No.: |
91-11-42058093 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2016 |
|
|
|
|
Date of
Incorporation : |
03.08.2006 |
|
|
|
|
Com. Reg. No.: |
55-151575 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 3567.792 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22219DL2006PTC151575 |
|
|
|
|
IEC No.: |
0506064271 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT5137A |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Trading and Manufacturing in Liquid Ink, Ink Jet, Trading of Can Coating and also engaged in Trading and Proposed Manufacturing of Adhesive. (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 |
|
Maximum Credit Limit : |
USD 7300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Toyo Ink SC Holdings Co. Limited”,
Japan, and was incorporated in the year 2006. Management of the company has not filed its financials of 2017 with
government department. The company has sound financial base and healthy capital structure
along with average low balance sheet. Rating takes into consideration strong managerial and financial
support received to the company from its holding entity. Rating also takes into account of established track of business
operations and market position. However, rating strength is partially offset due to continuously
losses incurred by the company which has reported negative reserves position. Trae relation are reported as fair. Business is active. Payments are
slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 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
MANAGEMENT NON-COOPERATIVE (91-11-42058093)
LOCATIONS
|
Registered Office / Delhi Depot : |
82, Functional Industrial Estate, Patparganj Industrial Area,
Patparganj, Delhi – 110092, India |
|
Tel. No.: |
91-11-42058093 / 42147181 |
|
Fax No.: |
91-11-42147740 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office / Delhi Depot : |
A-288, Okhla Industrial Area, Phase-I, New Delhi – 110020, India |
|
|
|
|
Factory / Head Quarter : |
Plot No.17, Ecotech III (Udyog Kendra), Greater Noida, District. Gautam Budh Nagar – 201306, Uttar Pradesh, India |
|
Tel. No.: |
91-120-6777222 / 2935002/ 04/05 |
|
Fax No.: |
91-120-6777200 / 2397100 |
|
|
|
|
Vasai Depot : |
Gala No. 6,7 and 8 of Sethia Industrial Park Village Walivdiagonally, Toyota Showroom National Highway, Vasai East, Thane, Mumbai – 401208, Maharashtra, India |
|
Tel. No.: |
91-0250-6480335 |
|
|
|
|
Mumbai Regional
Office : |
707, A Wing, 215, Atrium Andheri–Kurla Road, Andheri East, Mumbai - 400093, Maharashtra, India |
|
Tel. No.: |
91-22-28258416 / 28258417 |
|
|
|
|
Gujarat Plant : |
Plot No. 2/23, Dahej D-II, Village: Jolwa, Dist: Bharuch - 392130, Gujarat, India |
|
Tel. No.: |
91-2641-261700 |
|
|
|
|
Vadodara Depot : |
130/4, GIDC, Makarpura, Vadodara - 390014, Gujarat, India |
|
|
|
|
Vadodara Office : |
Flat No. 101, Krishnalay Building, 89, Alkapuri Society Opposite Center point Alkapuri, Vadodara – 390007, Gujarat, India |
|
Tel. No.: |
91-265-2325355 |
|
|
|
|
Ahmedabad Depot : |
Navapura Cross Road, Navapura, Sarkhej-Rajkot Highway, Taluka - Sanand, Distt. Ahmedabad - 382210, Gujarat, India |
|
|
|
|
Chennai Depot : |
No. 2/396-A, Sri Moogambigai Nagar, Kattupakkam, Iyyapanthangal, Chennai – 600056, Tamilnadu, India |
|
Tel. No.: |
91-44-42859495/ 42846667 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Prashant Atre |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
19-A, Tilak Bridge Railway Colony, New Delhi – 110001,
iNDIA |
||||||||||||
|
Date of Birth/Age : |
13.01.1968 |
||||||||||||
|
Date of Appointment : |
21.08.2015 |
||||||||||||
|
DIN No.: |
01558613 |
||||||||||||
|
Other Directorship:
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Kotaro Yoshida |
||||||||||||
|
Designation : |
Managing Director |
||||||||||||
|
Address : |
Ideos Azamino, I-106, 1-27-1, Azamino, Aoba-Ku Yokohama Na
Japan |
||||||||||||
|
Date of Birth/Age : |
16.11.1960 |
||||||||||||
|
Date of Appointment : |
01.10.2014 |
||||||||||||
|
PAN No.: |
AMDPY7160N |
||||||||||||
|
DIN No.: |
07010995 |
||||||||||||
|
Other Directorship:
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Sundermurthy Alias K S Murthy |
||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||
|
Address : |
L-101, Goldensquare, Sunder Nagar, Kalina, Santacruz East,
Mumbai-400098, Maharashtra, India |
||||||||||||
|
Date of Birth/Age : |
27.12.1965 |
||||||||||||
|
Date of Appointment : |
21.08.2015 |
||||||||||||
|
DIN No.: |
07282015 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Kenji Ishii |
||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||
|
Address : |
Hotel Regenta Central Harimangla, Near ABC Circle, Old N.H.8, Bholav, Bharuch – 392015, Gujarat, India |
||||||||||||
|
Date of Appointment : |
27.01.2017 |
||||||||||||
|
DIN No.: |
07705689 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Kenichi Tabuchi |
||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||
|
Address : |
C-721, Second Floor New Friends Colony, Delhi – 110065, India |
||||||||||||
|
Date of Appointment : |
22.05.2017 |
||||||||||||
|
DIN No.: |
07848617 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Takahiro Ochiai |
||||||||||||
|
Designation : |
Additional Director |
||||||||||||
|
Address : |
3-23-4 Higashi Urawa Midori-Ku Saitama Shi 3360926, Japan |
||||||||||||
|
Date of Appointment : |
27.09.2017 |
||||||||||||
|
DIN No.: |
07926346 |
||||||||||||
|
Other Directorship:
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Takashi Yamauchi |
||||||||||||
|
Designation : |
Additional Director |
||||||||||||
|
Date of Birth/Age : |
4-12-18 Kamitoda Toda City Saitama 3350022, Japan |
||||||||||||
|
Date of Appointment : |
27.09.2017 |
||||||||||||
|
DIN No.: |
07929384 |
||||||||||||
KEY EXECUTIVES
|
Name : |
Mamta Nailwal |
|
Designation : |
Company Secretary |
|
Address : |
L-92 Delta II, Greater Noida – 201308, Uttar Pradesh, India |
|
Date of Birth/Age : |
19.12.199 |
|
Date of Appointment : |
15.11.2017 |
|
Aadhaar Card No : |
8447 1523 0107 |
|
PAN No.: |
AJNPN3369B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2016
|
Names of Shareholders |
|
No. of Shares |
|
Toyo Ink SC Holdings Company Limited, Japan |
|
356769200 |
|
Tipps Pte Limited |
|
10000 |
|
|
|
|
|
Total |
|
356779200 |
As on 18.07.2017
|
Names of Allottees |
|
No. of Shares |
|
Toyo Ink SC Holdings Company Limited, Japan |
|
7000000 |
|
|
|
|
|
Total |
|
7000000 |
As on 15.11.2017
|
Names of Allottees |
|
No. of Shares |
|
Toyo Ink SC Holdings Company Limited, Japan |
|
16290000 |
|
|
|
|
|
Total |
|
16290000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.06.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading and Manufacturing in Liquid Ink and Ink Jet, Trading of Can Coating and also engaged in Trading and Proposed Manufacturing of Adhesive. (Registered activity) |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Brand Names : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Agencies Held : |
Not Divulged |
||||||||
|
|
|
||||||||
|
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 : |
B S R and Associates LLP Chartered Accountants |
|
Address : |
Building No.10, Tower - B, 8th Floor, DLF Cyber, City, Phase II, Gurgaon - 122002, Haryana, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFB6889R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
|
|
|
|
|
Subsidiary Company : |
|
|
|
|
|
Fellow Subsidiary : |
|
CAPITAL STRUCTURE
After 27.06.2017
Authorised Capital : INR 3957.900 Million
Issued, Subscribed & Paid-up Capital : INR 3900.692
Million
As on 31.12.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
357600000 |
Equity Shares |
INR 10/- each |
INR 3576.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
356779200 |
Equity Shares |
INR 10/- each |
INR 3567.792
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 |
3567.792 |
3341.792 |
2190.300 |
|
(b) Reserves &
Surplus |
(1003.676) |
(816.984) |
(469.168) |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
210.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
2564.116 |
2734.808 |
1721.132 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1159.160 |
386.181 |
118.389 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.111 |
1.266 |
1.386 |
|
Total Non-current Liabilities
(3) |
1163.271 |
387.447 |
119.775 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
70.000 |
220.000 |
97.500 |
|
(b) Trade payables |
432.992 |
625.572 |
343.919 |
|
(c) Other current
liabilities |
130.557 |
89.056 |
31.789 |
|
(d) Short-term provisions |
1.291 |
0.958 |
0.601 |
|
Total Current Liabilities
(4) |
634.840 |
935.586 |
473.809 |
|
|
|
|
|
|
TOTAL |
4362.227 |
4057.841 |
2314.716 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2364.218 |
1747.418 |
783.614 |
|
(ii) Intangible Assets |
61.399 |
3.281 |
0.000 |
|
(iii) Capital
work-in-progress |
12.653 |
394.776 |
362.641 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
5.900 |
|
(b) Non-current
Investments |
5.901 |
0.000 |
8.847 |
|
(c) Deferred tax assets
(net) |
0.000 |
5.564 |
0.000 |
|
(d) Long-term Loan and Advances |
19.489 |
83.282 |
89.220 |
|
(e) Other Non-current
assets |
16.257 |
3.420 |
10.155 |
|
Total Non-Current Assets |
2479.917 |
2237.741 |
1260.377 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
534.256 |
534.697 |
345.359 |
|
(c) Trade receivables |
1101.910 |
792.024 |
411.317 |
|
(d) Cash and cash
equivalents |
108.713 |
409.255 |
212.958 |
|
(e) Short-term loans and
advances |
130.267 |
78.913 |
81.459 |
|
(f) Other current assets |
7.164 |
5.211 |
3.246 |
|
Total Current Assets |
1882.310 |
1820.100 |
1054.339 |
|
|
|
|
|
|
TOTAL |
4362.227 |
4057.841 |
2314.716 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
|
SALES |
|
|
|
|
|
Income |
2605.121 |
1914.148 |
1638.063 |
|
|
Other Income |
20.615 |
25.169 |
60.461 |
|
|
TOTAL |
2625.736 |
1939.317 |
1698.524 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1385.238 |
1269.882 |
1216.782 |
|
|
Purchases of Stock-in-Trade |
431.530 |
219.385 |
73.768 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
62.222 |
(191.790) |
(30.281) |
|
|
Employees benefits
expense |
287.595 |
255.969 |
214.812 |
|
|
Other expenses |
445.775 |
384.358 |
289.247 |
|
|
TOTAL |
2612.360 |
1937.804 |
1764.328 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
13.376 |
1.513 |
(65.804) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
35.707 |
43.184 |
15.264 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(22.331) |
(41.671) |
(81.068) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
164.361 |
132.216 |
92.860 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(186.692) |
(173.887) |
(173.928) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(186.692) |
(173.887) |
(173.928) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(0.52) |
(0.56) |
(0.68) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Maturities of Long term debt |
2.782 |
1.273 |
0.000 |
|
Net cash flows from (used in) operations |
(500.235) |
(309.626) |
(51.402) |
|
Net cash flows from (used in) investing activities |
(119.795) |
(593.470) |
(90.191) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
154.39 |
151.03 |
91.65 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.36 |
2.42 |
3.98 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
86.99 |
153.32 |
97.27 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.03 |
0.00 |
(0.19) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.01 |
0.00 |
(0.06) |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.41 |
0.33 |
0.26 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.48 |
0.22 |
0.13 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.25 |
0.34 |
0.28 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.95 |
0.78 |
0.67 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.37 |
0.04 |
(4.31) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
((PAT / Sales) * 100) |
% |
(7.17) |
(9.08) |
(10.62) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(4.28) |
(4.29) |
(7.51) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(7.28) |
(6.36) |
(10.11) |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.97 |
1.95 |
2.23 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.12 |
1.37 |
1.50 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.59 |
0.67 |
0.74 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.34 |
0.18 |
0.10 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.97 |
1.95 |
2.23 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
2190.300 |
3341.792 |
3567.792 |
|
Reserves & Surplus |
(469.168) |
(816.984) |
(1003.676) |
|
Share Application money
pending allotment |
0.000 |
210.000 |
0.000 |
|
Net worth |
1721.132 |
2734.808 |
2564.116 |
|
|
|
|
|
|
long(term borrowings |
118.389 |
386.181 |
1159.160 |
|
Short term borrowings |
97.500 |
220.000 |
70.000 |
|
Current Maturities of
Long term debt |
0.000 |
1.273 |
2.782 |
|
Total borrowings |
215.889 |
607.454 |
1231.942 |
|
Debt/Equity ratio |
0.125 |
0.222 |
0.480 |
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 |
1638.063 |
1914.148 |
2605.121 |
|
|
|
16.854 |
36.098 |
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 |
1638.063 |
1914.148 |
2605.121 |
|
Profit / (Loss) |
(173.928) |
(173.887) |
(186.692) |
|
|
(10.62%) |
(9.08%) |
(7.17%) |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.12.2016 |
31.12.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
3567.792 |
3341.792 |
|
(b) Reserves &
Surplus |
|
(1003.802) |
(816.984) |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
210.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
2563.990 |
2734.808 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1159.160 |
386.181 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
4.111 |
1.266 |
|
Total Non-current
Liabilities (3) |
|
1163.271 |
387.447 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
70.000 |
220.000 |
|
(b) Trade payables |
|
433.019 |
625.572 |
|
(c) Other current
liabilities |
|
130.638 |
91.463 |
|
(d) Short-term provisions |
|
1.291 |
0.958 |
|
Total Current Liabilities
(4) |
|
634.948 |
937.993 |
|
|
|
|
|
|
TOTAL |
|
4362.209 |
4060.248 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2364.218 |
1747.418 |
|
(ii) Intangible Assets |
|
61.399 |
3.281 |
|
(iii) Capital
work-in-progress |
|
12.653 |
394.776 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
19.595 |
83.413 |
|
(e) Other Non-current
assets |
|
16.257 |
3.420 |
|
Total Non-Current Assets |
|
2474.122 |
2232.308 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
534.256 |
534.697 |
|
(c) Trade receivables |
|
1101.910 |
792.024 |
|
(d) Cash and cash
equivalents |
|
114.339 |
419.309 |
|
(e) Short-term loans and
advances |
|
130.267 |
76.408 |
|
(f) Other current assets |
|
7.315 |
5.502 |
|
Total Current Assets |
|
1888.087 |
1827.940 |
|
|
|
|
|
|
TOTAL |
|
4362.209 |
4060.248 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.12.2016 |
31.12.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
2605.121 |
1916.174 |
|
|
Other Income |
|
21.065 |
25.839 |
|
|
TOTAL |
|
2626.186 |
1942.013 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1385.238 |
1269.882 |
|
|
Purchases of
Stock-in-Trade |
|
431.530 |
221.393 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
62.222 |
(191.790) |
|
|
Employees benefits
expense |
|
287.595 |
255.969 |
|
|
Other expenses |
|
445.919 |
388.816 |
|
|
TOTAL |
|
2612.504 |
1944.270 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
13.682 |
(2.257) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
35.707 |
43.185 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
|
(22.025) |
(45.442) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
164.362 |
132.216 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
(186.387) |
(177.658) |
|
|
|
|
|
|
|
Less |
TAX |
|
0.095 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
(186.482) |
(177.658) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(0.52) |
(0.57) |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
STATE OF AFFAIRS OF
THE COMPANY
The company is
engaged in the following activities:
(i) LIQUID INK - Trading and Manufacturing
Toyo Ink India introduced Lio Value non-toluene and non-ketone highly concentrated gravure ink from Japan. Specially formulated for retort and boiling water application in food packaging.
LP Gem toluene and MEK PU based ink; highly versatile ink for reverse lamination for BOPP, Polyester surface printing of pearlised BOPP PVC shrink sleeves etc.
(ii) CAN COATING - Trading
Toyo Ink India has launched a complete system for acrylic coating and varnishes. Polyester coating and varnish for aluminum collapsible tubes, aerosol container etc.
(iii) INK JET- Manufacturing and Trading
High quality solvent base and UV inkjets inks are available for 'System Integrators' as a part of their systems.
(iv) ADHESIVE- Trading and proposed manufacturing
These adhesives have excellent
product resistance property especially for corrosive food packaging i.e. pickles, vinegar based food product, red chili, basmati rice etc.
PERFORMANCE:
The Company has reported total revenue of 2625.736 for the current year as compared to 1939.317 in the previous year. The Net Loss for the year amounted to 186.692 in the current year as compared to173.887 in the previous year with the slightest increase in the losses.
The directors of your company are extending their full efforts to bring the company in a much better financial position till the end of next Financial Year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
70.000 |
220.000 |
|
|
|
|
|
Total |
70.000 |
220.000 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.41 |
|
|
1 |
INR 87.18 |
|
Euro |
1 |
INR 77.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
KJL |
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.