|
|
|
MIRA INFORM REPORT
|
Report No. : |
487670 |
|
Report Date : |
22.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ADITYA BIRLA INSURANCE BROKERS LIMITED (w.e.f. 18.08.2010) |
|
|
|
|
Formerly Known
As : |
BIRLA
INSURANCE ADVISORY AND BROKING SERVICES LIMITED (w.e.f. 25.06.2007) BIRLA
INSURANCE ADVISORY SERVICES LIMITED |
|
|
|
|
Registered
Office : |
Indian Rayon Compound, Veraval, Junagadh – 362266, Gujarat |
|
Tel. No.: |
91-22-66525000 / 43568535 / 2876-248629 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
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Date of
Incorporation : |
26.12.2001 |
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Com. Reg. No.: |
11-062239 |
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Capital
Investment / Paid-up Capital : |
INR 27.000 Million |
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CIN No.: [Company Identification
No.] |
U99999GJ2001PLC062239 |
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IEC No.: |
Not Divulged |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AABCB8091L |
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GSTIN : |
Not Divulged |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
The Company is engaged in the business of provides Insurance Broking and Advisory services. (Registered activity) |
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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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a joint venture between “Aditya Birla Financial Services Limited” and “Infocyber India Private Limited” incorporated in the year 2001 having fine track record. The subject is engaged in the business of insurance broking and risk management services in non-life and reinsurance. As per the financials of 2017, the company has achieved decent growth in its revenue as compared to its previous year along with fair profitability margin during the year. Rating take into consideration the healthy financial risk profile marked by adequate net worth base and strong debt protection metrics. Further rating considers the shared brand name of the two joint venture partners which strengthens the adequate and timely financial and managerial support in Indian insurance industry. Rating continue to derive strength from its strong earnings per share of INR 92.715 against its face value of INR 10. However, these rating strengths gets partially offset by amidst competition from other insurance companies. Payments are reported to be regular and as per commitment. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 22.01.2018
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
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-22-66525000)
GIVEN NUMBER (I.E. 91-22-22880660) IS NOT WORKING
LOCATIONS
|
Registered Office : |
Indian Rayon Compound, Veraval, Junagadh – 362266, Gujarat |
|
Tel. No.: |
91-22-66525000 / 43568535 / 2876-248629 |
|
Mobile No.: |
91-9702052106 (Mr. Anantha Subrahmanya Dhananjaya) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office: |
One Indiabulls Center, Tower 1, 14th floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-43568585 |
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E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Madhukar Manilal Bhagat |
|
Designation : |
Director |
|
Address : |
13 Kabir Road, Kolkata – 700026, West Bengal, India |
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Date of Birth/Age : |
21.08.1933 |
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Qualification : |
B. Com, ACII and ACIS (Inter) London |
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Date of Appointment : |
11.12.2002 |
|
DIN No.: |
00006245 |
|
|
|
|
Name : |
Mr. Adesh Kumar Gupta |
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Designation : |
Director |
|
Address : |
701, Tagore Avenue, Tagore Road, Santa Cruz, Mumbai – 400054,
Maharashtra, India |
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Date of Birth/Age : |
11.09.1956 |
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Qualification : |
Chartered Accountant, Company Secretary and AMP from Harvard |
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Date of Appointment : |
08.11.2006 |
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DIN No.: |
00020403 |
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|
|
|
Name : |
Mr. Askaran Agarwala |
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Designation : |
Director |
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Address : |
Flat No 3, Haveli, L.D Ruparel Marg, Mumbai – 400006, Maharashtra,
India |
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Date of Birth/Age : |
01.07.1933 |
|
Qualification : |
Chartered Accountant, B. Com and LLB |
|
Date of Appointment : |
08.11.2006 |
|
DIN No.: |
00023684 |
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|
|
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Name : |
Mr. Vijay Gopi Kishan Agarwal |
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Designation : |
Director |
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Address : |
301, S.S. Sadan, Gulmohar Cross Road No.6, Juhu Scheme, Mumbai -
400049, Maharashtra, India |
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Date of Appointment : |
26.04.2017 |
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DIN No.: |
00058548 |
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|
|
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Name : |
Mr. Anantha Subrahmanya Dhananjaya |
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Designation : |
Additional Director |
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Address : |
57, 10th Floor Sunita, Cuffe Parade, Mumbai – 400005, Maharashtra,
India |
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Date of Birth/Age : |
19.12.1961 |
|
Date of Appointment : |
31.10.2017 |
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PAN No.: |
AAEPD9825E |
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DIN No.: |
01744569 |
KEY EXECUTIVES
|
Name : |
Ms. Priyanka Vastimal Jain |
|
Designation : |
Company Secretary |
|
Address : |
203/D, Raval Nagar, Near Hardik Palace Hotel, Mira Road (East), Thane
– 401107, Maharashtra, India |
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Date of Birth/Age : |
24.11.1989 |
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Qualification : |
Company Secretary & B. Com |
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Date of Appointment : |
02.02.2016 |
|
PAN No.: |
AJZPJ6454D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Infocyber India Private Limited |
|
1349946 |
|
Aditya Birla Financial Services Limited (ABFSL) |
|
1349829 |
|
Rajesh |
|
10 |
|
Rakesh |
|
10 |
|
Nirmal |
|
10 |
|
Ashok |
|
10 |
|
Ramchandra |
|
10 |
|
Deepak |
|
10 |
|
Goverdhan |
|
10 |
|
Naresh |
|
10 |
|
Dinesh |
|
10 |
|
Gopal |
|
10 |
|
Manoj |
|
55 |
|
Shriram |
|
25 |
|
Shashank Shekhar |
|
45 |
|
|
|
|
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Total |
|
2700000 |
Equity Share Break up (Percentage of Total Equity)
As on 05.06.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided Family
– Indian) |
0.01 |
|
Promoter - Bodies
corporate |
99.99 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of provides Insurance Broking and Advisory services. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Auditors : |
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Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
14Th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar West, Mumbai – 400028, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAPPW3232R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
U67120GJ2007PLC058890
U67120GJ2007PLC058890 |
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Ultimate Holding
company : |
L17199GJ1956PLC001107 |
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|
Fellow Subsidiary
company: |
U65990GJ1991PLC064603
U65999MH2008PLC183695
U99999MH2000PLC128110
U61190GJ1997PLC062406
L65993GJ1995PLC064810
U66000MH2015PLC263677
L32100GJ1996PLC030976 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2700000 |
Equity Shares |
INR 10/- each |
INR 27.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
27.000 |
27.000 |
27.000 |
|
(b) Reserves and Surplus |
564.289 |
509.410 |
295.732 |
|
(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) |
591.289 |
536.410 |
322.732 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.321 |
0.183 |
0.140 |
|
(d) long-term
provisions |
0.000 |
0.000 |
12.745 |
|
Total Non-current
Liabilities (3) |
0.321 |
0.183 |
12.885 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
243.822 |
171.883 |
105.697 |
|
(c) Other
current liabilities |
83.590 |
69.372 |
4.167 |
|
(d) Short-term
provisions |
20.743 |
43.566 |
181.926 |
|
Total Current
Liabilities (4) |
348.155 |
284.821 |
291.790 |
|
|
|
|
|
|
TOTAL |
939.765 |
821.414 |
627.407 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
68.226 |
20.854 |
20.475 |
|
(ii)
Intangible Assets |
28.195 |
23.405 |
11.292 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
1.287 |
|
(iv)
Intangible assets under development |
7.991 |
8.721 |
5.284 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
25.314 |
19.709 |
2.711 |
|
(d)
Long-term loans and advances |
13.504 |
12.411 |
16.174 |
|
(e) Other
Non-current assets |
15.937 |
12.458 |
10.162 |
|
Total Non-Current
Assets |
159.167 |
97.558 |
67.385 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
211.163 |
92.587 |
47.658 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
169.131 |
104.497 |
75.214 |
|
(d) Cash and
bank balances |
41.452 |
64.746 |
16.072 |
|
(e) Short-term
loans and advances |
301.621 |
393.878 |
421.078 |
|
(f) Other
current assets |
57.231 |
68.148 |
0.000 |
|
Total
Current Assets |
780.598 |
723.856 |
560.022 |
|
|
|
|
|
|
TOTAL |
939.765 |
821.414 |
627.407 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1210.888 |
967.812 |
730.052 |
|
|
Other Income |
54.398 |
49.893 |
40.527 |
|
|
TOTAL |
1265.286 |
1017.705 |
770.579 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
421.402 |
340.731 |
284.685 |
|
|
CSR expenditure |
5.500 |
4.300 |
0.000 |
|
|
Other expenses |
421.421 |
330.076 |
207.008 |
|
|
TOTAL |
848.323 |
675.107 |
491.693 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
416.963 |
342.598 |
278.886 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
416.963 |
342.598 |
278.886 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
29.761 |
19.118 |
11.803 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
387.202 |
323.480 |
267.083 |
|
|
|
|
|
|
|
Less |
TAX |
136.873 |
115.328 |
91.168 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
250.329 |
208.152 |
175.915 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
92.714 |
77.093 |
65.154 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
377.105 |
431.200 |
537.188 |
|
Net cash flows from (used in) operating activities |
228.911 |
266.118 |
317.331 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
50.98 |
39.41 |
37.60 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
7.16 |
9.26 |
9.71 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
3.99 |
6.47 |
7.27 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.37 |
0.35 |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ NetWorth) |
|
0.59 |
0.53 |
0.90 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.18 |
0.10 |
0.12 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
20.67 |
21.51 |
24.10 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
26.64 |
25.34 |
28.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
42.34 |
38.80 |
54.51 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
2.24 |
2.54 |
1.92 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
2.24 |
2.54 |
1.92 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.63 |
0.65 |
0.51 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
2.24 |
2.54 |
1.92 |
Total Liability = Short-term
Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
27.000 |
27.000 |
27.000 |
|
Reserves & Surplus |
295.732 |
509.410 |
564.289 |
|
Net
worth |
322.732 |
536.410 |
591.289 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
730.052 |
967.812 |
1210.888 |
|
|
|
32.568 |
25.116 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
730.052 |
967.812 |
1210.888 |
|
Profit/ (Loss) |
175.915 |
208.152 |
250.329 |
|
|
24.10
% |
21.51
% |
20.67
% |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 |
NOTE: Registered office of the company has been shifted from 2nd Floor, Mafatlal Chambers - B, N. M. Joshi Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India to the present address w.e.f. 04.08.2010
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Furniture and fixtures
- Vehicles
- 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 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 63.72 |
|
|
1 |
INR 88.64 |
|
Euro |
1 |
INR 78.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.