|
|
|
MIRA INFORM REPORT
|
Report No. : |
487269 |
|
Report Date : |
22.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ANDHRA POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Span Solitaire, 6-3-1090/B/5, Raj Bhavan Road, Hyderabad – 500082,
Telangana |
|
Tel. No.: |
91-40-23442260 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
21.06.1982 |
|
|
|
|
Com. Reg. No.: |
36-003538 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 24.760 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24134TG1982PTC003538 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN : |
36AABCA7291F1ZP |
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|
|
|
TIN No.: |
36530186643 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA7291F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
· The Company is engaged in the production of Technical Rubber Products and Calcium Silicate Ceiling Tiles. (Registered Activity) · Manufacturer of rubber products (Confirmed by management) |
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|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Andhra Polymers Private Limited (APPL), incorporated in the year 1982,
is engaged into manufacturing of ceiling tiles made of calcium silicate and rubber
products like pipe seals, rail pads, gaskets and variety of custom moulded
rubber parts. It is an established company having good track record. For the financial year ended 2017, the company has witnessed a growth in
its revenue and has achieved fair profit margin at 3.46% (approximately). The company possesses sound financial profile marked by healthy
networth base along with low debt of the company. The company also derives strength from its long standing track record
of business operations. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitments. 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.
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 |
ICRA |
|
Rating |
Term loan : BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
31.03.2017 |
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 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Narayan Desai |
|
Designation : |
Accountant |
|
Contact No.: |
91-40-23442260 |
|
Date : |
20.01.2018 |
LOCATIONS
|
Registered Office/ Corporate Office : |
Span Solitaire, 6-3-1090/B/5, Raj Bhavan Road, Hyderabad – 500082,
Telangana, India |
|
Tel. No.: |
91-40-23442260 |
|
Fax No.: |
91-40-23402095 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4000 Sq. ft. |
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory 1 : |
Plot No. 2A, Phase-V, IDA Jeedimetla, Hyderabad - 500 055, Telangana, India |
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|
|
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Factory 2 : |
Plot No. 2B, Phase-V, IDA Jeedimetla, Hyderabad - 500 055, Telangana, India |
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|
|
|
Factory 3 : |
Plot No. 16, IDA Medchal, Hyderabad – 501401, Telangana, India |
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|
|
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Factory 4 : |
Plot No. 9, Gate No. 108, Ambethan, Pune - 410501, Maharashtra, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Mahesh Khemka |
||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||
|
Address : |
6-3-1089/A/3/7, Gulmohar Avenue, Somajiguda, Hyderabad-500082,
Telangana, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
08.07.1951 |
||||||||||||||||||||||||
|
Date of Appointment : |
21.06.1982 |
||||||||||||||||||||||||
|
DIN No.: |
01635774 |
||||||||||||||||||||||||
|
Other
Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Pattabhi Vangala |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
1-3-183/40/70/4, Gandhinagar, Hyderabad-500380, Telangana, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
01.12.1938 |
||||||||||||||||||||||||
|
Date of Appointment : |
20.06.2001 |
||||||||||||||||||||||||
|
DIN No.: |
00200157 |
||||||||||||||||||||||||
|
Other
Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Ashok Kumar Kejriwal |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Ashwini Apartments, 7-1-28, Ameerpet, Hyderabad-500016, Telangana,
India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
04.10.1948 |
||||||||||||||||||||||||
|
Date of Appointment : |
25.03.1991 |
||||||||||||||||||||||||
|
DIN No.: |
01432394 |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Name : |
Ms. Laxmi Narasimha Murthy Srikakolapu |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Plot No 65, Asbestos Staff Colony, Opposite Vikrampuri, Secunderabad
500009, Telangana, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
01.09.1948 |
||||||||||||||||||||||||
|
Date of Appointment : |
19.11.2002 |
||||||||||||||||||||||||
|
DIN No.: |
01432818 |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Name : |
Ms. Hemlata Khemka |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
6-3-1089/A/3/7, 522 Gulmohar Avenue, Somajiguda Hyderabad 500082,
Telangana, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
05.10.1954 |
||||||||||||||||||||||||
|
Date of Appointment : |
19.05.1984 |
||||||||||||||||||||||||
|
DIN No.: |
01635755 |
||||||||||||||||||||||||
|
Other
Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Kamal Kumar Pachisia |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Aditya Classic, Flat No. 403, 6-3-1099/1/3, Somajiguda,
Hyderabad-500082, Telangana, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
17.11.1952 |
||||||||||||||||||||||||
|
Date of Appointment : |
10.04.2002 |
||||||||||||||||||||||||
|
DIN No.: |
01799381 |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Name : |
Ms. Radha Devi Khemka |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
H. No. 6-3-1089/A/3/7, New No.522, Gulmohar Avenue, Rajbhavan Road,
Hyderabad-500082, Telangana, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
26.10.1935 |
||||||||||||||||||||||||
|
Date of Appointment : |
12.04.2008 |
||||||||||||||||||||||||
|
DIN No.: |
02187701 |
||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Narayan Desai |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
As on 29.09.2017
|
Names of Shareholders |
|
No. of Shares |
|
Mahesh Khemka |
|
1579440 |
|
Hemlata Khemka |
|
155400 |
|
Raj Kumar Mahesh Kumar HUF |
|
246000 |
|
Mahesh Kumar HUF |
|
132600 |
|
Radha Devi Khemka |
|
361320 |
|
Sunita Modi |
|
600 |
|
Rati Khemka |
|
600 |
|
Total |
|
2475960 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
63.79 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
36.21 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· The Company is engaged in the production of Technical Rubber Products and Calcium Silicate Ceiling Tiles. (Registered Activity) · Manufacturer of rubber products (Confirmed by management) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
|
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Products : |
Finished Goods |
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Countries : |
·
Turkey ·
Dubai ·
Russia ·
United Kingdom ·
Japan |
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|
||||
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Imports : |
|
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Products : |
Raw Material |
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|
Countries : |
·
China ·
United Kingdom |
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|
||||
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Terms : |
|
||||
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Selling : |
Cheque |
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|
||||
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Purchasing : |
Cheque |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
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Customers : |
Retailers, End Users
|
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|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
400 (Approximately) |
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|
|
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|
Bankers : |
·
Kotak Mahindra Bank Limited ·
State Bank of India |
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|
|
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|
Facilities : |
|
|
Auditors : |
|
|
Name : |
P. Ramakrishna and Company Chartered Accountants |
|
Address : |
2-2-1130-19/5D, Shivam Road, Vidyanagar, Hyderabad – 500044,
Telangana, India |
|
Tel. No.: |
91-40-27614287 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFP7741L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Other Related Parties: |
|
CAPITAL STRUCTURE
As on: 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 10/- each |
INR 25.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2475960 |
Equity Shares |
INR 10/- each |
INR 24.760 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
24.760 |
24.760 |
24.760 |
|
(b) Reserves & Surplus |
213.820 |
190.471 |
172.338 |
|
(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) |
238.580 |
215.231 |
197.098 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
25.767 |
31.197 |
46.812 |
|
(b) Deferred tax liabilities (Net) |
3.738 |
4.677 |
5.766 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.784 |
0.693 |
0.553 |
|
Total Non-current
Liabilities (3) |
30.289 |
36.567 |
53.131 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
127.987 |
109.238 |
160.312 |
|
(b) Trade
payables |
34.637 |
22.308 |
22.847 |
|
(c) Other
current liabilities |
33.226 |
28.635 |
21.319 |
|
(d) Short-term
provisions |
36.477 |
21.702 |
19.214 |
|
Total Current
Liabilities (4) |
232.327 |
181.883 |
223.692 |
|
|
|
|
|
|
TOTAL |
501.196 |
433.681 |
473.921 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
142.044 |
139.032 |
155.708 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
2.226 |
1.324 |
0.510 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10.000 |
10.000 |
10.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.708 |
17.080 |
18.079 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
161.978 |
167.436 |
184.297 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
100.464 |
72.830 |
106.945 |
|
(c) Trade
receivables |
145.605 |
111.952 |
114.389 |
|
(d) Cash
and cash equivalents |
60.081 |
59.998 |
40.090 |
|
(e)
Short-term loans and advances |
32.914 |
19.838 |
27.886 |
|
(f) Other
current assets |
0.154 |
1.627 |
0.314 |
|
Total
Current Assets |
339.218 |
266.245 |
289.624 |
|
|
|
|
|
|
TOTAL |
501.196 |
433.681 |
473.921 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
673.454 |
562.082 |
671.612 |
|
|
Other Income |
10.733 |
17.677 |
4.142 |
|
|
TOTAL |
684.187 |
579.759 |
675.754 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
309.108 |
243.271 |
330.006 |
|
|
Purchases of
Stock-in-Trade |
4.995 |
1.368 |
4.773 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(23.904) |
25.988 |
7.212 |
|
|
Employees benefits
expense |
111.913 |
90.062 |
93.326 |
|
|
Other expenses |
207.312 |
155.849 |
187.995 |
|
|
TOTAL |
609.424 |
516.538 |
623.312 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
74.763 |
63.221 |
52.442 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
13.544 |
16.208 |
15.486 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
61.219 |
47.013 |
36.956 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
25.599 |
23.666 |
22.404 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
35.620 |
23.347 |
14.552 |
|
|
|
|
|
|
|
Less |
TAX |
12.271 |
5.213 |
6.781 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
23.349 |
18.134 |
7.771 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
190.471 |
172.337 |
173.070 |
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
Adjustment Relating to
fixed Assets |
0.000 |
0.000 |
4.246 |
|
|
Bonus Shares Issued |
0.000 |
0.000 |
4.127 |
|
|
Transfer to receivables |
0.000 |
0.000 |
0.131 |
|
|
Total |
0.000 |
0.000 |
8.504 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
213.820 |
190.471 |
172.337 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
131.075 |
97.660 |
190.222 |
|
|
TOTAL EARNINGS |
131.075 |
97.660 |
190.222 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
96.827 |
82.179 |
106.836 |
|
|
Components and Stores
parts |
1.071 |
0.209 |
3.016 |
|
|
TOTAL IMPORTS |
97.898 |
82.388 |
109.852 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
9.43 |
7.32 |
3.14 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
6.725 |
6.725 |
0.000 |
|
Cash generated from operations |
33.503 |
92.695 |
27.616 |
|
Net cash flows from operating activity |
20.292 |
86.393 |
21.529 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
78.92 |
72.70 |
62.17 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.63 |
5.02 |
5.87 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
40.25 |
33.28 |
24.91 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.74 |
0.87 |
0.49 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.52 |
0.45 |
0.34 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.53 |
0.51 |
0.57 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.67 |
0.68 |
1.05 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.97 |
0.85 |
1.13 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.60 |
0.65 |
0.79 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
5.52 |
3.90 |
3.39 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
3.47 |
3.23 |
1.16 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.66 |
4.18 |
1.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
9.79 |
8.43 |
3.94 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.46 |
1.46 |
1.29 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.03 |
1.06 |
0.82 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.48 |
0.50 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
6.48 |
5.94 |
8.37 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.46 |
1.46 |
1.29 |
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 |
24.760 |
24.760 |
24.760 |
|
Reserves & Surplus |
172.338 |
190.471 |
213.820 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
197.098 |
215.231 |
238.580 |
|
|
|
|
|
|
long-term borrowings |
46.812 |
31.197 |
25.767 |
|
Short term borrowings |
160.312 |
109.238 |
127.987 |
|
Current maturities of
long-term debts |
0.000 |
6.725 |
6.725 |
|
Total
borrowings |
207.124 |
147.160 |
160.479 |
|
Debt/Equity
ratio |
1.051 |
0.684 |
0.673 |
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 |
671.612 |
562.082 |
673.454 |
|
|
|
(16.309) |
19.814 |
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 |
671.612 |
562.082 |
673.454 |
|
Profit |
7.771 |
18.134 |
23.349 |
|
|
1.16% |
3.23% |
3.47% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
24.760 |
|
(b) Reserves & Surplus |
|
|
272.947 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
297.707 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
33.244 |
|
(b) Deferred tax liabilities (Net) |
|
|
5.281 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
0.784 |
|
Total Non-current Liabilities
(3) |
|
|
39.309 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
136.206 |
|
(b) Trade
payables |
|
|
49.555 |
|
(c) Other
current liabilities |
|
|
38.075 |
|
(d) Short-term
provisions |
|
|
46.131 |
|
Total Current
Liabilities (4) |
|
|
269.967 |
|
|
|
|
|
|
TOTAL |
|
|
606.983 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
170.589 |
|
(ii)
Intangible Assets |
|
|
0.458 |
|
(iii)
Capital work-in-progress |
|
|
2.226 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
8.362 |
|
(e) Other
Non-current assets |
|
|
0.816 |
|
Total Non-Current
Assets |
|
|
182.451 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
114.285 |
|
(c) Trade
receivables |
|
|
170.534 |
|
(d) Cash
and cash equivalents |
|
|
84.694 |
|
(e)
Short-term loans and advances |
|
|
54.865 |
|
(f) Other
current assets |
|
|
0.154 |
|
Total
Current Assets |
|
|
424.532 |
|
|
|
|
|
|
TOTAL |
|
|
606.983 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
790.707 |
|
|
Other Income |
|
|
23.207 |
|
|
TOTAL |
|
|
813.914 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
359.531 |
|
|
Purchases of Stock-in-Trade |
|
|
4.995 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
(25.428) |
|
|
Employees benefits expense |
|
|
119.023 |
|
|
Other expenses |
|
|
250.207 |
|
|
TOTAL |
|
|
708.328 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
105.586 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
15.266 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
90.320 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
|
31.752 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
|
58.568 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
18.443 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
|
40.125 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
|
16.21 |
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) |
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF COMPANY
AFFAIRS:
During the year, the company has been able to maintain its sales and production levels in spite of stiff competition. The company’s net revenue from operation stood at INR 684.187 million. Consequently, Profit before tax for the year was INR 35.620 million as compared to INR 23.349 million reported last year.
CORPORATE
INFORMATION:
The Company is engaged in the production of Technical Rubber Products and Calcium Silicates Celling Tiles. The Company Presently has manufacturing facilities at Jeedimetla, Hyderabad.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Deferred Payment Liabilities |
12.896 |
13.218 |
|
Loans and advance
from related parties |
|
|
|
Vehicle Loan |
3.142 |
0.000 |
|
Kotak Mahindra Bank |
1.203 |
1.953 |
|
Radha Devi Khemka |
0.000 |
0.885 |
|
Sunita Modi |
1.670 |
1.472 |
|
Short-term
borrowings |
|
|
|
Loans and advance |
|
|
|
Vehicle Loan |
1.480 |
0.105 |
|
Total |
20.391 |
17.633 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B36843530 |
10347249 |
State Bank of Hyderabad |
15/03/2012 |
- |
- |
360000.0 |
SANATHNAGAR BRANCH, HYDERABAD-500018, TELANGANA, INDIA |
|
2 |
A78914017 |
10201125 |
STATE BANK OF HYDERABAD |
23/12/2009 |
- |
- |
1900000.0 |
SANATHNAGAR BRANCH, HYDERABAD-500018, TELANGANA, INDIA |
|
3 |
Y10217700 |
90124895 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
11/04/1988 |
- |
- |
244000.0 |
CHIRAG ALI LANE, HYDERABAD, TELANGANA, INDIA |
|
4 |
Y10217675 |
90124870 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
09/08/1986 |
- |
- |
1650000.0 |
ABIDS, HYDERABAD, TELANGANA, INDIA |
|
5 |
G10621159 |
90127261 |
STATE BANK OF HYDERABAD |
25/04/1985 |
03/06/2016 |
- |
271900000.0 |
STATE BANK OF HYDERABAD, SANATH NAGAR BRANCH, INDUSTRIAL ESTATE, SANATHNAGAR, HYDERABAD-500018, TELANGANA, INDIA |
|
6 |
Y10218249 |
90125444 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
01/10/1984 |
- |
- |
200000.0 |
CHIRAG ALI LANE, HYDERABAD, TELANGANA, INDIA |
FIXED ASSETS
Tangible Assets
- Free Hold
Land
- Lease Hold
Land
- Office
Building
- Factory
Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicle
- Computer
Accessories
- Office
Equipment
- Testing
Equipment
- Moulds
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 63.72 |
|
|
1 |
INR 88.64 |
|
Euro |
1 |
INR 78.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTIK |
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.