|
|
|
MIRA INFORM REPORT
|
Report No. : |
487004 |
|
Report Date : |
19.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ANUPAM INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
138, GIDC Estate, Vithal Udhyog Nagar, Anand – 388121, Gujarat |
|
Tel. No.: |
91-2692-236118/ 235210 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
29.10.1998 |
|
|
|
|
Com. Reg. No.: |
04-034888 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 537.943
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
u29199gj1998plc034888 |
|
|
|
|
IEC No.: |
3499001144 |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
GST No.: |
24AABCA9602Q1ZG |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA9602Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of EOT Cranes, Tower Cranes and other
Material Handling Equipment and also Providing Repairs and Maintenance Services.
(Registered Activity and also Confirmed by Management) |
|
|
|
|
No. of Employees
: |
536 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 6249000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1998 having moderate track record. Management of the company has not filed its financial with the government department for the year 2017.
However, the rating weakness is partially offset by company’s long established track record of business operation. Trade relations are reported to be fair. Business is active. Payments terms are reported to be slow but correct. The company can be considered for business dealings with
some caution. |
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 |
CRISIL |
|
Rating |
Long term rating = (B-) |
|
Rating Explanation |
High risk of default |
|
Date |
18.01.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = (A4) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
18.01.2017 |
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 19.01.2018.
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 PARTED BY
|
Name : |
MS. Madhuri Chauhan |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-2692-235210 |
|
Date : |
18.01.2018 |
LOCATIONS
|
Registered / Corporate Office/ Factory 1 : |
138, GIDC Estate, Vithal Udhyog Nagar, district Anand – 388121, Gujarat, India |
|
Tel. No.: |
91-2692-236118/ 235210/ 236211/ 2235201 |
|
Mobile No.: |
91-9824836582 (Mr. Jitendra Patel) |
|
Fax No.: |
91-2692-236324 |
|
E-Mail : |
info@rushabhinfosoft.com |
|
Website : |
|
|
|
|
|
Factory 2 : |
Nadiad – Dakor road,
Village Salun, Gujarat, India |
|
|
|
|
Factory 3 : |
Unit-V, 1804/1, 1805/1, 1805/2, GIDC, Vithal Udyog Nagar, Anand -
388121, Gujarat, India |
|
|
|
|
Branch Office 1: |
Room No. 209, Sector – 22, Ground Floor, Noida – 201301, Uttar Pradesh, India |
|
|
|
|
Branch Office 2: |
P-38, Princep Street, Room No. 9 & 10, Kolkata - 700 072, West Bengal, India |
|
Tel. No.: |
91-33-22373987 |
|
Fax No.: |
91-33-22374522 |
|
|
|
|
Branch Office 3: |
Anand View, Mezzanine Floor, Old Agra Road, Nr. Babubhai Petrol Pump, Adjacent to Bramhala Lake Kolbad, Thane – West - 400 601, Maharashtra |
|
Tel. No.: |
91-22-25476153 |
|
Fax No.: |
91-22-25471721 |
|
|
|
|
Branch Office 4: |
No.69. Dr. Giriappa Road, T. Nagar, Chennai - 600 017, Tamilnadu, India |
|
Tel. No.: |
91-44-45544350 |
|
Fax No.: |
91-44-45544360 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Mehul Jagdishchandra Patel |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
Anupam, Near Patel Press, Nana Bazar, Vallabh Vidyanagar-388120,
Gujarat, India |
||||||||||||||||
|
Date of Birth/Age : |
17.07.1963 |
||||||||||||||||
|
Qualification: |
B. E. (Mech.) |
||||||||||||||||
|
Date of Appointment : |
01.04.2015 |
||||||||||||||||
|
PAN |
ADRPP6875A |
||||||||||||||||
|
DIN No.: |
00509597 |
||||||||||||||||
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Ms. Shreya Mehul Patel |
||||||||||||||||
|
Designation : |
Whole Time Director |
||||||||||||||||
|
Address : |
Anupam, Near Patel Press, Nana Bazar, Vallabh Vidyanagar-388120,
Gujarat, India |
||||||||||||||||
|
Date of Birth/Age : |
13.12.1969 |
||||||||||||||||
|
Qualification: |
B. Sc. (Micro) |
||||||||||||||||
|
Date of Appointment : |
01.04.2015 |
||||||||||||||||
|
PAN |
AKAPP7610D |
||||||||||||||||
|
DIN No.: |
00509616 |
||||||||||||||||
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Rahul Dinesh Shah |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Lanuvilla, B-2 and 3, 79-B, Tagore Road, Santacruz (West),
Mumbai-400054, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
26.03.1963 |
||||||||||||||||
|
Date of Appointment : |
29.06.2012 |
||||||||||||||||
|
DIN No.: |
00030807 |
||||||||||||||||
|
|||||||||||||||||
|
|
|||||||||||||||||
|
Name : |
Mr. Pritesh Pramodbhai Patel |
||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||
|
Address : |
11, Tulsi Villa, Karamsad V V Nagar Road, Behind Gangaba Chh Atralaya Vallabh, Vodhyanagar - 388120, Gujarat, India |
||||||||||||||||
|
Date of Appointment : |
21.12.2017 |
||||||||||||||||
|
DIN No.: |
07791527 |
||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ms. Madhuri Chauhan |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Rahul Dasgupta |
|
Designation : |
Chief Finance Officer |
|
Address : |
C-50, Shaligram Greens, Rambhaikaka Marg, Bakrol - 388315, Gujarat, India |
|
Date of Appointment : |
01.02.2016 |
|
Pan: |
AGSPD4648M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2016
|
Names of Equity Shareholders |
|
No. of Shares |
|
Jagdishchandra Chhotalal Patel |
|
187997 |
|
Mehul Jagdishchandra Patel |
|
3198367 |
|
Shreya Mehul Patel |
|
414844 |
|
Kuntal Jagdishchandra Patel |
|
2938 |
|
Pritesh Pramodbhai Patel |
|
40 |
|
Meena Pritesh Patel |
|
40 |
|
Aditya Birla Private Equity Trust A/C
Aditya Birla Private Equity Fund, India |
|
100 |
|
|
|
|
|
Total |
|
3804326 |
|
Names of Preference Shareholders |
No. of Shares |
|
Mehul Jagdishchandra Patel |
20206 |
|
Aditya Birla Private Equity Trust A/c,
India |
479694 |
|
|
|
|
Total
|
499900 |
AS ON: 27.01.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of EOT Cranes, Tower Cranes and other
Material Handling Equipment and also Providing Repairs and Maintenance
Services. (Registered Activity and also Confirmed by Management) |
||||||||||
|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Brand Names : |
Not Available |
||||||||||
|
|
|
||||||||||
|
Agencies Held : |
Not Available |
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|
|
|
||||||||||
|
Exports : |
|
||||||||||
|
Products: |
Finished Goods |
||||||||||
|
Countries: |
· Coria · Bangladesh |
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|
|
|
||||||||||
|
Imports : |
Not Divulged |
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|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
Cheque and RTGS |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
Cheque and RTGS |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
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Customers : |
Manufacturers
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
536 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
Standard Chartered Bank Abhijeet II, Ground Floor, Near Mithakhali, Six Roads, Ahmedabad - 380006, Gujarat, India · ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India ·
State Bank of India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institutions : |
· IFCI Limited IFCI Tower61, Nehru Place New Delhi - 110019, India · Axis Trustee Services Limited Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Heritage, 3rd Floor, Near Gujarat Vidyapith, Off |
|
Tel. No.: |
91-79-27582542/ 27582543/ 66073100 |
|
Fax No.: |
91-79-27582551 |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFD7919A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Joint venture: |
Anupam Port Cranes Corporation Limited [U29100GJ2011PLC067084] |
|
|
|
|
Subsidiary company: |
Anupam Cranes and Equipment’s Private Limited [U29259GJ1992PTC016918] |
CAPITAL STRUCTURE
AS ON: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
INR 10/- each |
INR 40.000 Million |
|
500000 |
Preference Shares |
INR 1000/- each |
INR 500.000 Million |
|
|
Total |
|
INR 540.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3804326 |
Equity Shares |
INR 10/- each |
INR 38.043 Million |
|
499900 |
Preference Shares |
INR 1000/- each |
INR 499.900 Million |
|
|
Total |
|
INR 537.943 Million |
FINANCIAL DATA
[all figures are
in 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 |
537.943 |
537.943 |
537.943 |
|
(b) Reserves & Surplus |
1649.291 |
1580.098 |
1545.655 |
|
(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) |
2187.234 |
2118.041 |
2083.598 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
609.311 |
428.899 |
244.607 |
|
(b) Deferred tax liabilities (Net) |
94.502 |
107.079 |
95.886 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
12.397 |
3.407 |
0.000 |
|
Total
Non-current Liabilities (3) |
716.210 |
539.385 |
340.493 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1375.190 |
1451.730 |
1490.147 |
|
(b)
Trade payables |
749.761 |
1011.916 |
807.835 |
|
(c)
Other current liabilities |
931.603 |
950.862 |
843.653 |
|
(d)
Short-term provisions |
10.457 |
1.104 |
3.705 |
|
Total
Current Liabilities (4) |
3067.011 |
3415.612 |
3145.340 |
|
|
|
|
|
|
TOTAL |
5970.455 |
6073.038 |
5569.431 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1321.999 |
1336.546 |
1312.662 |
|
(ii)
Intangible Assets |
2.787 |
10.173 |
19.705 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
70.049 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
631.900 |
631.900 |
631.900 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
35.157 |
31.935 |
70.576 |
|
(e)
Other Non-current assets |
169.485 |
183.810 |
259.804 |
|
Total
Non-Current Assets |
2161.328 |
2194.364 |
2364.696 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
925.755 |
895.922 |
881.560 |
|
(c)
Trade receivables |
1625.378 |
1923.305 |
1453.503 |
|
(d)
Cash and cash equivalents |
168.720 |
145.329 |
80.696 |
|
(e)
Short-term loans and advances |
130.426 |
61.976 |
104.210 |
|
(f)
Other current assets |
958.848 |
852.142 |
684.766 |
|
Total
Current Assets |
3809.127 |
3878.674 |
3204.735 |
|
|
|
|
|
|
TOTAL |
5970.455 |
6073.038 |
5569.431 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
3009.767 |
2923.809 |
2783.019 |
|
|
|
Other Income |
71.505 |
18.331 |
151.620 |
|
|
|
TOTAL |
3081.272 |
2942.140 |
2934.639 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1197.556 |
2013.410 |
1543.818 |
|
|
|
Purchases of Stock-in-Trade |
669.606 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
110.785 |
(147.621) |
96.435 |
|
|
|
Employees benefits expense |
162.262 |
174.948 |
171.502 |
|
|
|
Prior period items |
21.589 |
0.000 |
0.000 |
|
|
|
Other expenses |
379.718 |
403.747 |
599.659 |
|
|
|
TOTAL |
2541.516 |
2444.484 |
2411.414 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
539.756 |
497.656 |
523.225 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
373.020 |
336.886 |
364.229 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
166.736 |
160.770 |
158.996 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
83.458 |
85.550 |
81.679 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
83.278 |
75.220 |
77.317 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
14.023 |
33.180 |
47.789 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
69.255 |
42.040 |
29.528 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
207.098 |
174.182 |
275.746 |
|
|
|
Service Income |
0.114 |
0.000 |
0.000 |
|
|
TOTAL |
|
207.212 |
174.182 |
275.746 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
75.998 |
63.072 |
216.064 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
|
|
|
|
|
|
Basic |
18.19 |
11.03 |
7.75 |
|
|
|
Diluted |
15.82 |
9.61 |
6.73 |
|
|
PARTICULARS |
|
|
31.03.2017 |
|
Sales Turnover (Approximately) |
|
|
2800.000 |
|
|
|
|
(Due to market
floatation) |
The above information has been parted by Ms. Madhuri Chauhan (Chief
Financial Officer)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
124.245 |
128.224 |
130.348 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
274.102 |
439.537 |
239.037 |
|
|
|
|
|
|
Net Cash Flow from Operating Activities |
256.227 |
452.438 |
214.196 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
197.11 |
240.10 |
190.63 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.85 |
1.52 |
1.91 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
146.57 |
183.44 |
190.99 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.58 |
0.56 |
0.59 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.41 |
0.37 |
0.37 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.64 |
0.65 |
0.63 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.96 |
0.95 |
0.90 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.40 |
1.61 |
1.51 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.61 |
0.64 |
0.67 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.45 |
1.48 |
1.44 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.30 |
1.44 |
1.06 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.16 |
0.69 |
0.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
3.17 |
1.98 |
1.42 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.24 |
1.14 |
1.02 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.94 |
0.87 |
0.74 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.37 |
0.35 |
0.37 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.92 |
3.73 |
3.47 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.24 |
1.14 |
1.02 |
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 |
537.943 |
537.943 |
537.943 |
|
Reserves & Surplus |
1545.655 |
1580.098 |
1649.291 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2083.598 |
2118.041 |
2187.234 |
|
|
|
|
|
|
long-term borrowings |
244.607 |
428.899 |
609.311 |
|
Short term borrowings |
1490.147 |
1451.730 |
1375.190 |
|
Current Maturities of Long
term debt |
130.348 |
128.224 |
124.245 |
|
Total
borrowings |
1865.102 |
2008.853 |
2108.746 |
|
Debt/Equity
ratio |
0.895 |
0.948 |
0.964 |
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 |
2783.019 |
2923.809 |
3009.767 |
|
|
|
5.059 |
2.940 |
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 |
2783.019 |
2923.809 |
3009.767 |
|
Profit |
29.528 |
42.040 |
69.255 |
|
|
1.06% |
1.44% |
2.30% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
537.943 |
537.943 |
|
(b) Reserves & Surplus |
|
869.490 |
1079.413 |
|
(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) |
|
1407.433 |
1617.356 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
641.109 |
466.472 |
|
(b) Deferred tax liabilities (Net) |
|
94.502 |
107.079 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
12.480 |
3.601 |
|
Total
Non-current Liabilities (3) |
|
748.091 |
577.152 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1433.792 |
1511.338 |
|
(b)
Trade payables |
|
927.325 |
1107.938 |
|
(c)
Other current liabilities |
|
1251.231 |
1413.622 |
|
(d)
Short-term provisions |
|
23.471 |
58.577 |
|
Total
Current Liabilities (4) |
|
3635.819 |
4091.475 |
|
|
|
|
|
|
TOTAL |
|
5791.343 |
6285.983 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1339.270 |
1411.830 |
|
(ii)
Intangible Assets |
|
2.786 |
16.903 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
17.453 |
17.453 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
3.773 |
3.508 |
|
(d) Long-term Loan
and Advances |
|
49.211 |
86.968 |
|
(e)
Other Non-current assets |
|
173.592 |
186.873 |
|
Total
Non-Current Assets |
|
1586.085 |
1723.535 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
943.993 |
979.678 |
|
(c)
Trade receivables |
|
1843.513 |
2019.184 |
|
(d)
Cash and cash equivalents |
|
250.847 |
181.541 |
|
(e)
Short-term loans and advances |
|
136.141 |
123.944 |
|
(f)
Other current assets |
|
1030.764 |
1258.101 |
|
Total
Current Assets |
|
4205.258 |
4562.448 |
|
|
|
|
|
|
TOTAL |
|
5791.343 |
6285.983 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
3209.548 |
3219.588 |
|
|
|
Other Income |
|
73.865 |
20.414 |
|
|
|
TOTAL |
|
3283.413 |
3240.002 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
1269.420 |
2265.338 |
|
|
|
Purchases of Stock-in-Trade |
|
669.606 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
100.753 |
(154.192) |
|
|
|
Employees benefits expense |
|
177.625 |
195.354 |
|
|
|
Prior period items |
|
21.589 |
0.000 |
|
|
|
Other expenses |
|
701.181 |
741.051 |
|
|
|
TOTAL |
|
2940.174 |
3047.551 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
343.239 |
192.451 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
387.708 |
356.838 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(44.469) |
(164.387) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
150.121 |
93.737 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
|
(194.590) |
(258.124) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
13.795 |
31.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
|
(208.385) |
(289.531) |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (INR) |
|
(54.79) |
(76.12) |
|
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 |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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% |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G27593169 |
10591078 |
STANDARD CHARTERED BANK |
31/08/2015 |
06/08/2016 |
- |
5900000.0 |
ABHIJEET II, GROUND FLOORNEAR MITHAKHALI, SIX ROADSAHMEDABADGJ380006IN |
|
2 |
C58919200 |
10579939 |
ICICI BANK LIMITED |
27/06/2015 |
- |
- |
700000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
3 |
C46798880 |
10555292 |
AXIS TRUSTEE SERVICES LIMITED |
18/02/2015 |
- |
- |
4069000000.0 |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND,PANDURANG BUDHKAR MARG, WORLI,MUMBAIMH400025IN |
|
4 |
C44586147 |
10551092 |
IFCI LIMITED |
17/02/2015 |
- |
- |
250000000.0 |
IFCI TOWER61, NEHRU PLACENEW DELHIDL110019IN |
|
5 |
B56965577 |
10331614 |
L & T FINANCE LIMITED |
23/12/2011 |
17/08/2012 |
- |
300000000.0 |
L&T HOUSE,BALLARD ESTATE,MUMBAIMH400001IN |
|
6 |
C43111970 |
10278181 |
STATE BANK OF INDIA |
26/03/2011 |
22/12/2014 |
- |
4205100000.0 |
MID CORPORATE GROUP INDUSTRIAL FINANCE BRANCHMARBLE ARCH, RACE COURCE CIRCLEVADODARAGJ390007IN |
|
7 |
B00627869 |
10254067 |
BANK OF BARODA |
03/12/2010 |
- |
- |
300000000.0 |
NANA BAZARVALLABH VIDYANAGAR BRANCHVALLABH VIDYANAGARGJ388120IN |
|
8 |
B60272374 |
10248350 |
AXIS BANK LIMITED |
19/10/2010 |
24/09/2012 |
- |
1100000000.0 |
TRISHUL, 3RD FLOOR, OPP SAMTHESHWAR MAHADEVLAW GARDEN, ELISS BRIDGEAHMEDABADGJ380009IN |
|
9 |
C10095131 |
10178780 |
STATE BANK OF INDIA |
18/09/2009 |
30/06/2014 |
- |
957200000.0 |
MID CORPORATE GROUP INDUSTRIAL FINANCE BRANCHMARBLE ARCH, RACE COURCE CIRCLEVADODARAGJ390007IN |
|
10 |
A63058358 |
10159552 |
STANDARD CHARTERED BANK |
27/05/2009 |
- |
- |
403231000.0 |
ABIJEET II, GROUND FLOOR,NEAR MITHKHALI, SIX ROADAHMEDABADGJ380006IN |
|
11 |
B74408253 |
10117263 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
25/08/2008 |
29/04/2013 |
- |
900000000.0 |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK,TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHINAVI MUMBAIMH400703IN |
|
12 |
B01098573 |
10112840 |
STANDARD CHARTERED BANK |
10/07/2008 |
22/11/2010 |
- |
400000000.0 |
ABHIJEET II, GROUND FLOORNEAR MITHAKHALI SIX ROADAHMEDABADGJ380006IN |
|
13 |
A97373401 |
10070990 |
HDFC BANK LIMITED |
25/09/2007 |
28/10/2010 |
- |
390000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
14 |
B76321215 |
80007158 |
AXIS BANK LIMITED |
16/01/2006 |
12/04/2013 |
- |
4081200000.0 |
TRISHUL, 3RD FLOOR, OPP. SAMARTHESWAR TEMPLELAW GARDEN ELLIS BRIDGEAHMEDABADGJ380006IN |
|
15 |
C41604935 |
10334588 |
THE ANAND MERCANTILE CO-OP BANK LIMITED |
07/02/2012 |
- |
24/01/2015 |
316000.0 |
'MERCANTILE', MAHARSHI DAYANAND MARGPOST BOX NO. 38ANANDGJ388001IN |
|
16 |
C36762458 |
10119249 |
THE ANAND MERCANTILE CO-OP BANK LTD |
05/09/2008 |
- |
15/12/2014 |
393000.0 |
MAHARSHI DAYANAND MARGANANDANANDGJ388001IN |
|
17 |
C37094513 |
10175037 |
THE ANAND MERCANTILE CO-OPERATIVE BANK LTD |
04/09/2009 |
- |
15/12/2014 |
760000.0 |
MERCANTILE, MAHARSHI DAYANAND MARGANANDANANDGJ388001IN |
|
18 |
C36751709 |
10334583 |
THE ANAND MERCANTILE CO-OP BANK LIMITED |
07/02/2012 |
- |
15/12/2014 |
316000.0 |
'MERCANTILE', MAHARSHI DAYANAND MARGPOST BOX NO. 38ANANDGJ388001IN |
|
19 |
C32328296 |
10287741 |
THE ANAND MERCANTILE CO-OP BANK LIMITED |
24/05/2011 |
- |
05/11/2014 |
483000.0 |
MERCANTILE, MAHARSHI DAYANAND MARGANANDANANDGJ388001IN |
|
20 |
C09749995 |
10292412 |
THE ANAND MERCANTILE CO-OP BANK LTD |
17/06/2011 |
- |
24/06/2014 |
855000.0 |
MERCANTILE, MAHARSHI DAYANAND MARGANANDANANDGJ388001IN |
|
21 |
B80260276 |
10241095 |
THE ANAND MERCANTILE CO-OPERATIVE BANK LTD |
01/09/2010 |
- |
15/07/2013 |
900000.0 |
"MERCANTILE", MAHARSHI DAYANAND MARGP.B.NO. 38ANANDGJ388001IN |
|
22 |
B80262405 |
10245384 |
THE ANAND MERCANTILE CO-OP BANK LTD |
16/09/2010 |
- |
08/07/2013 |
396000.0 |
MARCANTILE, MAHARSHI DAYANAND MARGANANDANANDGJ388001IN |
|
23 |
B80261951 |
10245383 |
THE ANAND MERCANTILE CO-OP BANK LTD |
16/09/2010 |
- |
08/07/2013 |
396000.0 |
MARCANTILE, MAHARSHI DAYANAND MARGANANDANANDGJ388001IN |
|
24 |
B65317760 |
10193050 |
THE ANAND MERCANTILE CO-OPERATIVE BANK LTD |
05/01/2010 |
- |
05/01/2013 |
400000.0 |
MERCANTILE, MAHARSHI DAYANAND MARGANANDANANDGJ388001IN |
|
25 |
B65307225 |
10193048 |
THE ANAND MERCANTILE CO-OPERATIVE BANK LTD |
06/01/2010 |
- |
12/12/2012 |
839000.0 |
MERCANTILE, MAHARSHI DAYANAND MARGANANDANANDGJ388001IN |
|
26 |
B65319196 |
10193051 |
THE ANAND MERCANTILE CO-OPERATIVE BANK LTD |
05/01/2010 |
- |
12/12/2012 |
400000.0 |
MERCANTILE, MAHARSHI DAYANAND MARGANANDANANDGJ388001IN |
|
27 |
B65309403 |
10193049 |
THE ANAND MERCANTILE CO-OPERATIVE BANK LTD |
06/01/2010 |
- |
12/12/2012 |
839000.0 |
MERCANTILE, MAHARSHI DAYANAND MARGANANDANANDGJ388001IN |
|
28 |
B59961458 |
10189967 |
ANAND MERCANTILE CO OPERATIVE BANK LIMITED |
24/11/2009 |
- |
17/10/2012 |
350000.0 |
"MERCANTILE" MAHARSHI DAYANAND MARGANANDANANDGJ388001IN |
|
29 |
B59959395 |
10189968 |
ANAND MERCANTILE CO OPERATIVE BANK LIMITED |
24/11/2009 |
- |
17/10/2012 |
350000.0 |
"MERCANTILE" MAHARSHI DAYANAND MARGANANDANANDGJ388001IN |
|
30 |
B14375398 |
10118137 |
THE ANAND MERCANTILE CO-OP BANK LTD |
25/08/2008 |
- |
14/06/2011 |
393000.0 |
MAHARSHI DAYANAND MARGANANDANANDGJ388001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans taken for vehicles |
1.089 |
2.733 |
|
Loans and advances from directors |
111.542 |
105.442 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
213.277 |
36.002 |
|
Other loans and advances |
58.324 |
27.083 |
|
|
|
|
|
Total |
384.232 |
171.260 |
CORPORATE INFORMATION
The Company’ is a public company which was incorporated on October 20, 1998 under the provision of the Companies Act, 1956. The objective is to manufacture various types of cranes and material handling equipment’s in particular required by Industries like steel plants, cement plants, refineries, heavy transporters, workshops, power plants etc.
REVIEW OF FINANCIAL AND OPERATIONS :
During the year, net sales and erection and other charges amounted to INR 2989.000 million as against INR 2903.500 million in the previous year which reflected a nominal increase of approximately 3% in sales as compared to the previous year.
The performance of the company has been marginally better on account of execution of orders with better margins during the year. There has been a strong indication of the upward revival of the industry in terms of more Contracts being awarded in comparison with earlier years in the Power, Infrastructure and Steel sectors.
The Earnings Before Depreciation, Interest and Tax (EBIDTA) for the current financial year has increased substantially to INR 539.800 million as against INR 497.600 million in the corresponding previous year. The significant difference is due to reduction in Direct Other expenses including non-requirement of additional provisioning for doubtful debts. The Profit Before Tax was higher at INR 8.33 crores against INR75.200 million in the previous year. Profit After Tax for the year is INR 69.300 million as against INR 42.000 million for the previous year.
The Company’s order book position is fairly good and with the orders in hand which are expected to be executed during the Financial Year 2016 – 17, the company expects to marginally increase by 5% the turnover and the profitability during the current year as compared to the Financial Year 2014 – 15.
FUTURE
OUTLOOK:
The interest rates are also expected to soften, although the impact of the same will be felt only in next financial year. With the initiative taken by the Central Government in the field of coal sector which will have direct impact on the power sector as well as the emphasis on development of infrastructure, fresh investments are expected to provide the long awaited impetus to the industry.
The power sector, steel sector and Infrastructure/Port sector, which form major customer base for the company’s products, has shown a gradual improvement in the current year in terms of increased procurement action. Further, all the major investments in SAIL projects which were held up since last couple of years have now taken off. The order book position of the company also reflects this improved sentiment.
They have grab ship unloader for bulk material handling. They have been qualified and under active consideration for two projects Viz.
TNEB through BGR, Chennai and BHEL Bangalore respectively. As the investment in port sector looks promising we have started focusing on this sector with the knowledge gain & experience from JV. We have been able to grab 6 RTG orders from Navkar.
EXPORT BUSINESS :
They started necessary ground work like vendor approval, trial order execution and the marketing activities in the Middle East and Korea with EPC companies. Now, we are in a much better position in terms of flow of enquiries. Under the present scenario, the investment rate is going substantially up in the Middle East and thereby opening a lot of business opportunities in form of active offers under various stages of evaluation. This will translate into a substantial increase in export order book position.
At Iran, the current steel producing capacity is around 15 mio TPA, which is planned to enhance to 55 million by 20/25. Recently they have received an order worth INR 40 Million from one of our steel producers from Iran.
They have submitted offers to BAKU STEEL, ArcelorMittal Ukrain worth of INR 50 Crore and 54 Crore respectively.
They have already qualified bidder and having fair chance to get orders.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Claims against the Company not acknowledged as debts: Income tax related matters: |
|
|
|
In respect of matters decided against the Company for which the Company is in appeal with higher authorities |
0.886 |
8.332 |
|
Indirect tax related matters: |
|
|
|
In respect of matters decided against the Company for which the Company is in appeal with higher authorities. |
|
|
|
Disputed Directorate General of Central Excise & Investigation (DGCEI) demand pending under appeal |
56.535 |
56.565 |
|
Disputed Excise demand pending under appeal with Customs ,Excise & Service Tax Appellate Tribunal (CESTAT), West Zonal Bench, Ahmedabad |
38.657 |
35.654 |
|
Other matters: |
|
|
|
Workmen compensation & Other claims against the company not acknowledge as debt |
Amount not determinable |
Amount not determinable |
FIXED ASSETS:
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 63.84 |
|
UK Pound |
1 |
INR 88.28 |
|
Euro |
1 |
INR 77.88 |
INFORMATION
DETAILS
|
Information
Gathered by : |
SWT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ARC |
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.