|
|
|
MIRA INFORM REPORT
|
Report No. : |
487570 |
|
Report Date : |
22.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ASHIDA ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A-308, Road No.21, Wagale Industrial Estate, Thane (West),
Thane – 400604, Maharashtra |
|
Tel. No.: |
91-22-25827524 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
19.09.1994 |
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|
|
|
Com. Reg. No.: |
11-081216 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 19.939 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21109MH1994PTC081216 |
|
|
|
|
IEC No.: |
0394065166 |
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|
|
|
GST No.: |
27AABCA5020G1Z7 |
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|
|
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TIN No.: |
27510001850 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCA5020G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturing of Power Protection Relays and SCADA Systems. [Registered Activity] |
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|
|
|
No. of Employees
: |
Not Divulged |
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 |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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|
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|
Comments : |
Subject is an established company incorporated in the year 1994 and it is having good track. It is engaged in manufacturing power system protection equipment and has developed a range of electromechanical, static and numerical relays indigenously along with Substation Automation Systems (SCADA). For the financial year 2017, the company has registered decrease in its revenue from operation as compared to previous year and maintained decent profitability margin of 13.31%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and low debt balance sheet. Further, rating also reflects from its established market position in the power protection equipment manufacturing business and marginal improvement in the revenue profile during the year. However, rating strength is partially offset by working capital intensive nature of operations. Trade relations are reported as fair. Business is active. Payments terms are reported to be regular. In view of the 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 |
CRISIL |
|
Rating |
Long Term Rating=BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
13.10.2017 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating=A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
13.10.2017 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-22-61299124]
LOCATIONS
|
Registered/ Head/ Regional Office
: |
Plot No. A-308, Road No.21, Wagale Industrial Estate, Thane (West),
Thane – 400604, Maharashtra, India |
|
Tel. No.: |
91-22-25827524/ 25/ 26/ 61299124/ 25 |
|
Fax No.: |
91-22-25804262 |
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E-Mail : |
|
|
Website : |
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|
Other Regional
Offices : |
Located at: · Kolkata · Delhi · Aurangabad · Secunderabad · Chennai · Chandigarh · Lucknow · Bangalore · Ahmedabad · Jabalpur · Bhopal |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Ms. Ashalata Manohar Kulkarni |
||||||||
|
Designation : |
Managing Director |
||||||||
|
Address : |
194, Sharmishta Twin Tower, Tarangan Mangal Pande Road, Thane – 400606, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
09.03.1943 |
||||||||
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Qualification : |
B.A. (Hons). |
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|
Date of Appointment : |
16.12.2009 |
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PAN No.: |
ACJPK2897G |
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DIN No.: |
00226851 |
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Other Directorship
:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Shrikrishna Dattatray Naik |
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|
Designation : |
Director |
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|
Address : |
124, Tower II, Tarangan Phase-I, Adjoining Cadbury Comp, Thane – 400602, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
26.08.1948 |
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|
Qualification : |
DIP. IN ELEC. ENGG. (1968) |
||||||||
|
Date of Appointment : |
19.09.1994 |
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PAN No.: |
AAUPN9397D |
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|
DIN No.: |
00226895 |
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Other Directorship
:
|
|||||||||
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|
|
||||||||
|
Name : |
Mr. Sunil Pundalik Kulkarni |
||||||||
|
Designation : |
Director |
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|
Address : |
Jay Tower CHS, 7th Floor, Opposite Punjani Estate, Thane – 400602, Maharashtra, India |
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|
Date of Birth/Age : |
15.08.1956 |
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Qualification : |
Graduate B.A. |
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|
Date of Appointment : |
16.01.1995 |
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PAN No.: |
ACJPK2910J |
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|
DIN No.: |
00226958 |
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|
|
||||||||
|
Name : |
Mr. Suyash Manohar Kulkarni |
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|
Designation : |
Director |
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|
Address : |
Flat No. 194, 19th Floor Sharmishtha, Tarangan, Off E E Highway, Thane – 400606, Maharashtra, India |
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|
Date of Birth/Age : |
04.04.1970 |
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Qualification : |
B.E. |
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Date of Appointment : |
19.09.1994 |
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PAN No.: |
ABBPK8613M |
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DIN No.: |
00226992 |
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Other Directorship
:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Sujay Manohar Kulkarni |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
194, Sharmishtha, Tarangan, Shahid Mangal Pande Marg, Thane – 400606, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
07.01.1974 |
||||||||
|
Qualification : |
BE (COMP) |
||||||||
|
Date of Appointment : |
01.02.2000 |
||||||||
|
PAN No.: |
ACOPK9993L |
||||||||
|
DIN No.: |
00227027 |
||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Amit Kulkarni |
|
10 |
|
Ashalata Manohar Kulkarni |
|
84875 |
|
Aparna Sujay Kulkarni |
|
1390 |
|
Mandar Shrikrishna Naik |
|
230 |
|
Manjusha Kulkarni |
|
10 |
|
Mrunal Rahul Kulkarni |
|
100 |
|
Pooja Athawale |
|
10 |
|
Sanjeevan Kulkarni |
|
10 |
|
Shrikrishna Dattray Naik |
|
32330 |
|
Seema Sunil Kulkarni |
|
4930 |
|
Sujay Manohar Kulkarni |
|
19325 |
|
Sukhada Suyash Kulkarni |
|
1625 |
|
Sunil Pundalik Kulkarni |
|
27920 |
|
Suyash Manohar Kulkarni |
|
19695 |
|
Unmesh Athawale |
|
10 |
|
Vaibhavi Kulkarni |
|
10 |
|
Vrushali Shrikrishna Naik |
|
6905 |
|
|
|
|
|
Total |
|
199385 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
92.36 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
7.64 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Power Protection Relays and SCADA Systems. [Registered Activity] |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Canara Bank Gokhale Road, Naupada, Thane-400602, Maharashtra, India |
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Facilities : |
|
|
|
|
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Auditors : |
|
|
Name : |
Singavi Oturkar and Kelkar Chartered Accountants |
|
Address : |
Nirveli Apartment, 1st Floor, Opposite Lakshmi Vilas Bank Swami Vivekanand Road, Off Gokhale Road, Naupada, Thane (West), Thane – 400602, Maharashtra, India |
|
PAN No.: |
AAEFS8002L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related Party : |
Ashida Service Centre |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
INR 100/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
199385 |
Equity Shares |
INR 100/- each |
INR 19.939
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR 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 |
19.938 |
19.938 |
19.938 |
|
(b) Reserves & Surplus |
709.309 |
601.083 |
495.606 |
|
(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) |
729.247 |
621.021 |
515.544 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1.328 |
0.620 |
0.979 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
3.280 |
0.000 |
|
(c)
Other long term liabilities |
0.611 |
1.862 |
3.115 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
1.939 |
5.762 |
4.094 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
89.002 |
83.107 |
110.650 |
|
(b)
Trade payables |
108.051 |
146.415 |
125.992 |
|
(c)
Other current liabilities |
18.246 |
15.356 |
26.123 |
|
(d)
Short-term provisions |
78.969 |
59.484 |
32.397 |
|
Total
Current Liabilities (4) |
294.268 |
304.362 |
295.162 |
|
|
|
|
|
|
TOTAL |
1025.454 |
931.145 |
814.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
167.323 |
177.217 |
171.453 |
|
(ii)
Intangible Assets |
2.829 |
2.278 |
3.506 |
|
(iii)
Capital work-in-progress |
10.277 |
6.727 |
7.722 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
8.450 |
0.250 |
0.250 |
|
(c) Deferred tax assets
(net) |
0.609 |
0.000 |
0.160 |
|
(d) Long-term Loan
and Advances |
66.156 |
54.052 |
52.125 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
255.644 |
240.524 |
235.216 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
103.714 |
135.138 |
76.810 |
|
(c)
Trade receivables |
463.857 |
394.537 |
356.864 |
|
(d)
Cash and cash equivalents |
177.984 |
142.683 |
136.455 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
24.255 |
18.263 |
9.455 |
|
Total
Current Assets |
769.810 |
690.621 |
579.584 |
|
|
|
|
|
|
TOTAL |
1025.454 |
931.145 |
814.800 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
840.247 |
1006.642 |
706.993 |
|
|
|
Other Income |
22.517 |
20.942 |
12.217 |
|
|
|
TOTAL |
862.764 |
1027.584 |
719.210 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
282.843 |
517.965 |
309.987 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
26.960 |
(36.583) |
(0.334) |
|
|
|
Employees benefits expense |
175.885 |
164.759 |
133.823 |
|
|
|
Other expenses |
195.800 |
192.556 |
146.730 |
|
|
|
Prior period items before tax |
0.049 |
0.000 |
0.000 |
|
|
|
CSR expenditure |
1.250 |
0.000 |
0.721 |
|
|
|
TOTAL |
682.787 |
838.697 |
590.927 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
179.977 |
188.887 |
128.283 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
6.623 |
7.569 |
5.628 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
173.354 |
181.318 |
122.655 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
20.400 |
22.396 |
28.037 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
152.954 |
158.922 |
94.618 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
41.110 |
53.441 |
25.456 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
111.844 |
105.481 |
69.162 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
134.235 |
354.287 |
138.108 |
|
|
TOTAL EARNINGS |
134.235 |
354.287 |
138.108 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
40.949 |
|
|
|
|
|
Capital Goods |
0.000 |
6.320 |
|
|
|
TOTAL IMPORTS |
40.949 |
122.819 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
561.00 |
529.00 |
347.00 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.628 |
0.355 |
0.318 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
114.835 |
79.633 |
117.221 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
68.803 |
40.827 |
97.617 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
201.50 |
143.06 |
184.24 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.81 |
2.55 |
1.98 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
139.44 |
103.18 |
148.35 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.74 |
1.40 |
1.67 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.00 |
1.01 |
0.70 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.29 |
0.33 |
0.36 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.12 |
0.14 |
0.22 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.40 |
0.49 |
0.57 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.25 |
0.30 |
0.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
27.17 |
24.96 |
22.79 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
13.31 |
10.48 |
9.78 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
10.91 |
11.33 |
8.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
15.34 |
16.99 |
13.42 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.62 |
2.27 |
1.96 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.26 |
1.83 |
1.70 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.71 |
0.67 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.56 |
4.22 |
5.61 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.62 |
2.27 |
1.96 |
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 |
19.938 |
19.938 |
19.938 |
|
Reserves & Surplus |
495.606 |
601.083 |
709.309 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
515.544 |
621.021 |
729.247 |
|
|
|
|
|
|
long-term borrowings |
0.979 |
0.620 |
1.328 |
|
Short term borrowings |
110.650 |
83.107 |
89.002 |
|
Current Maturities of Long
term debt |
0.318 |
0.355 |
0.628 |
|
Total
borrowings |
111.947 |
84.082 |
90.958 |
|
Debt/Equity
ratio |
0.217 |
0.135 |
0.125 |
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 |
706.993 |
1006.642 |
840.247 |
|
|
|
42.384 |
-16.530 |
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 |
706.993 |
1006.642 |
840.247 |
|
Profit/ (Loss) |
69.162 |
105.481 |
111.844 |
|
|
9.78% |
10.48% |
13.31% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G14593990 |
100053905 |
Canara Bank |
25/08/2016 |
- |
- |
1474000.0 |
NAUPADATHANEMH400602IN |
|
2 |
Y10250587 |
90150817 |
CANARA BANK |
29/08/2000 |
- |
- |
460000.0 |
41-A; GOKHALE ROADAUPADATHANEMHIN |
|
3 |
Y10251188 |
90151418 |
CANARA BANK |
26/04/1995 |
10/01/2000 |
- |
800000.0 |
GOKHALE ROADNALPADATHANEMHIN |
|
4 |
G35243500 |
90150315 |
Canara Bank |
26/04/1995 |
27/09/2016 |
- |
120000000.0 |
GOKHALE ROAD, NAUPADATHANEMH400601IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from directors |
14.117 |
14.118 |
|
|
|
|
|
Total |
14.117 |
14.118 |
PERFORMANCE:
The performance of the Company was satisfactory during the year. Due to slowdown in the economy the company has earned slightly lower revenue of INR 840.247 Million as compared to revenue of INR 1006.642 Million in the previous year. The management controlled the expenses and the expenditure for the current year was INR 709.810 Million against the last years expenditure of INR 868.662 Million. In spite of the reduction in the turnover of the company due to effective cost management the net profit for the year ended on 31st March, 2017was increased to INR 111.844 Million against the previous year profit of INR 105.481 Million.
The Directors are confident that the current year will show better performance.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against company not acknowledged as debt |
57.315 |
43.264 |
|
Other money for which company is contingently liable |
4.858 |
9.727 |
|
|
|
|
|
Total |
62.173 |
52.991 |
FIXED ASSETS:
Tangible 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, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.72 |
|
UK Pound |
1 |
INR 88.64 |
|
Euro |
1 |
INR 78.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.