|
|
|
MIRA INFORM REPORT
|
Report No. : |
487049 |
|
Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
BATLIBOI ENVIRONMENTAL ENGINEERING LIMITED |
|
|
|
|
Registered
Office : |
Spartan House, 1st Floor, Plot No. B-29 Road No. S-18, Wagle Estate,
Thane (West) – 400604, Maharashtra |
|
Tel. No.: |
91-22-25583031 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
25.08.1959 |
|
|
|
|
Com. Reg. No.: |
11-011435 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 187.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH1959PLC011435 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH1091B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
|
|
|
|
|
No. of Employees
: |
Information denied by the management |
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 2140 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1959. It is engaged in design, engineering, manufacturing
and commissioning of air and water pollution control equipment and systems. As per available financial of March 2017, the company has achieved a
growth of 10.93% as compared to its previous year but has reported net worth
operating losses during the year. The company possesses moderate financial risk profile marked by low
net worth base and weak cash accruals. Rating further gets constrained on account of its continuous
operational losses due to delays in the execution of the projects on the back
of its stressed market conditions. However, theses rating weakness gets partially offset by its long
track record of its business operation backed by its experienced management
team in air treatment business. Payments are reported to be slow but correct. In view of aforesaid, 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 |
INDIA RATINGS |
|
Rating |
Cash Credit = B- |
|
Rating Explanation |
Risk-prone-credit-quality and carries very
high credit risk |
|
Date |
08.05.2017 |
|
|
|
|
Rating Agency Name |
INDIA RATINGS |
|
Rating |
Non-Fund Based Limit = A4 |
|
Rating Explanation |
Minimal degree of safety and very low credit
risk |
|
Date |
08.05.2017 |
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 23.01.2018.
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
|
Name : |
Mr. Sanjiv |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-22-25583031 |
|
Date : |
20.01.2018 |
LOCATIONS
|
Registered Office /
Corporate Office : |
Spartan House, 1st Floor, Plot No. B-29 Road No. S-18, Wagle Estate, Thane (West) – 400604, Maharashtra, India |
|
Tel. No.: |
91-22-25583031 / 3372/ 66378200 / 25833312 / 25837245 / 246 / 25836678 / 79 / 96 |
|
Fax No.: |
91-22-22675601 / 25833312 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Kaushik Kantilal Shah |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
B/2, Jaichamunda Society 5th, Kasturba Road, Borivali (East), Mumbai-400066, Maharashtra, India |
||||||||||||||||||||
|
Date of Birth/Age : |
29.06.1954 |
||||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||||
|
Date of Appointment : |
26.03.2015 |
||||||||||||||||||||
|
DIN No.: |
00265380 |
||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Parmeshwaran Krishnan Nair |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
401, Rosemary 4th Floor, Ice Factory Road, Bandra (West), Mumbai-400050, Maharashtra, India |
||||||||||||||||||||
|
Date of Birth/Age : |
22.04.1934 |
||||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||||
|
Date of Appointment : |
29.09.1988 |
||||||||||||||||||||
|
DIN No.: |
00409095 |
||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Kabir Nirmal Bhogilal |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
Gold Croft, 39/B. Desai Road, Mumbai-400026, Maharashtra, India |
||||||||||||||||||||
|
Date of Birth/Age : |
27.08.1981 |
||||||||||||||||||||
|
Qualification : |
B.A (Business Admin) |
||||||||||||||||||||
|
Date of Appointment : |
05.09.2013 |
||||||||||||||||||||
|
DIN No.: |
02692222 |
||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Sudhakar Balakrishna Rao |
|
Designation : |
CFO(KMP) |
|
Address : |
304, Alif Tower CHS Limited, Murbad Road, Syndigate, Thangewadi, Kalyan (West), Mumbai-421304, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1970 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
23.07.2015 |
|
PAN No.: |
ACWPR6486P |
|
|
|
|
Name : |
Mr. Sanjiv Harischandra Joshi |
|
Designation : |
Manager |
|
Address : |
D-31, Kavita Apartments, Indraprashtha Park, 90 Ft Road, Mulund (East), Mumbai-400081, Maharashtra, India |
|
Date of Birth/Age : |
27.12.1960 |
|
Qualification : |
B.E Mechanical Engineer |
|
Date of Appointment : |
17.08.2014 |
|
PAN No.: |
AAVPJ0806C |
|
|
|
|
Name : |
Mr. Ganpat Sakharam Sawant |
|
Designation : |
Company Secretary |
|
Address : |
405/B, Haridwar Apartment, Goddev, Opposite Abhyudaya Bank, Bhayander, Thane-401105, Maharashtra, India |
|
Date of Appointment : |
28.11.2017 |
|
PAN No.: |
FQQPS4647E |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Equity Shareholders |
|
No. of Shares |
|
P. K. Nair |
|
10 |
|
Nirmal Bhogilal jointly with Sheela Bogilal |
|
2975702 |
|
Hitco Investments Private Limited, India |
|
16000 |
|
Batliboi Limited, India |
|
1908930 |
|
Pranir Trustees Private Limited, India |
|
2125000 |
|
Sheela Bogilal jointly with Nirmal Bhogilal |
|
3275010 |
|
Nirmal Bhogilal |
|
1999348 |
|
Batliboi International Limited, India |
|
3000000 |
|
Kabir Bhogilal |
|
700000 |
|
Total |
|
16000000 |
|
Names of Preference
Shareholders |
|
No. of Shares |
|
Hitco Investments Private Limited, India |
|
100000 |
|
Kabir Bhogilal |
|
170000 |
|
Total |
|
270000 |
AS ON 12.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
55.94 |
|
Promoters - Bodies corporate |
44.06 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
|
||||||||
|
|
|
||||||||
|
Products / Services
: |
|
||||||||
|
|
|
||||||||
|
Brand Names : |
Not Available |
||||||||
|
|
|
||||||||
|
Agencies Held : |
Not Available |
||||||||
|
|
|
||||||||
|
Exports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Imports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
V Sankar Aiyar and Company Chartered Accountants |
|
Address : |
2-C, Court Chambers 35, New Marine Lines, Mumbai, Maharashtra, India |
|
PAN No.: |
AAAFV0781D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
CIN No.: L52320MH1941PLC003494
CIN No.: U51900MH1991PLC061002
CIN No.: U51109MH1950PLC008184
CIN No.: U74999TN1996PTC051693
CIN No.: U24230MH1992PLC065589
CIN No.: U65990MH1982PTC028924
CIN No.: U36911MH1988PTC049910
CIN No.: U67120MH1981PTC024943
CIN No.: U67120MH1993PTC073816
CIN No.: U67120MH1993PTC073817
|
|
|
|
|
Others : |
|
CAPITAL STRUCTURE
AS ON 12.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17000000 |
Equity Shares |
INR 10/- each |
INR 170.000 Million |
|
400000 |
Preference Shares |
INR 100/- each |
INR 40.000 Million |
|
|
Total |
|
INR 210.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
INR 10/- each |
INR 160.000 Million |
|
270000 |
Preference Shares |
INR 100/- each |
INR 27.000 Million |
|
|
Total |
|
INR 187.000
Million |
FINANCIAL DATA
[all figures are
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 |
187.000 |
160.000 |
160.000 |
|
(b) Reserves &
Surplus |
(186.250) |
(159.162) |
(136.920) |
|
(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) |
0.750 |
0.838 |
23.080 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
5.000 |
4.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.844 |
0.844 |
1.711 |
|
(d) long-term provisions |
3.648 |
2.504 |
3.772 |
|
Total Non-current
Liabilities (3) |
4.492 |
8.348 |
9.483 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
7.091 |
17.840 |
20.504 |
|
(b) Trade payables |
212.695 |
203.061 |
181.143 |
|
(c) Other current
liabilities |
34.224 |
34.249 |
51.036 |
|
(d) Short-term provisions |
0.145 |
1.086 |
0.996 |
|
Total Current Liabilities
(4) |
254.155 |
256.236 |
253.679 |
|
|
|
|
|
|
TOTAL |
259.397 |
265.422 |
286.242 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.201 |
0.946 |
1.057 |
|
(ii) Intangible Assets |
0.935 |
1.115 |
0.470 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.010 |
0.010 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
142.866 |
139.079 |
146.191 |
|
Total Non-Current Assets |
145.002 |
141.150 |
147.728 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2.300 |
2.300 |
2.300 |
|
(c) Trade receivables |
76.901 |
102.478 |
115.264 |
|
(d) Cash and cash
equivalents |
27.887 |
15.396 |
14.879 |
|
(e) Short-term loans and
advances |
7.297 |
4.098 |
6.071 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
114.385 |
124.272 |
138.514 |
|
|
|
|
|
|
TOTAL |
259.387 |
265.422 |
286.242 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
354.740 |
319.799 |
325.608 |
|
|
Other Income |
6.647 |
10.999 |
19.241 |
|
|
TOTAL |
361.387 |
330.798 |
344.849 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
304.321 |
262.655 |
263.768 |
|
|
Employees benefits
expense |
27.830 |
25.998 |
31.389 |
|
|
Other expenses |
44.567 |
51.951 |
37.735 |
|
|
TOTAL |
376.718 |
340.604 |
332.892 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(15.331) |
(9.806) |
11.957 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
10.887 |
11.718 |
10.613 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(26.218) |
(21.524) |
1.344 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.870 |
0.716 |
0.402 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(27.088) |
(22.240) |
0.942 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(27.088) |
(22.240) |
0.942 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(197.888) |
(175.648) |
(176.590) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
(224.976) |
(197.888) |
(175.648) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
16.392 |
7.907 |
0.976 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(1.69) |
(1.39) |
0.01 |
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 |
13.071 |
15.152 |
(9.864) |
|
Net cash flows from (used in) operating activities |
13.071 |
15.152 |
(9.864) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
79.13 |
116.96 |
129.21 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
4.61 |
3.12 |
2.82 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
255.10 |
282.18 |
250.66 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(6.67) |
(4.26) |
5.20 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(7.18) |
(4.76) |
7.83 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.98 |
0.98 |
0.90 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
9.45 |
27.26 |
1.06 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
338.87 |
305.77 |
10.99 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.85 |
2.46 |
0.07 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(1.41) |
(0.84) |
1.13 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
(7.64) |
(6.95) |
0.29 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(10.44) |
(8.38) |
0.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(3611.73) |
(2653.94) |
4.08 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.45 |
0.48 |
0.55 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.44 |
0.48 |
0.54 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.00 |
0.00 |
0.08 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.04 |
0.14 |
0.15 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.45 |
0.48 |
0.55 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
160.000 |
160.000 |
187.000 |
|
Reserves & Surplus |
(136.920) |
(159.162) |
(186.250) |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
23.080 |
0.838 |
0.750 |
|
|
|
|
|
|
long-term borrowings |
4.000 |
5.000 |
0.000 |
|
Short term borrowings |
20.504 |
17.840 |
7.091 |
|
Total borrowings |
24.504 |
22.840 |
7.091 |
|
Debt/Equity ratio |
1.062 |
27.255 |
9.455 |
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 |
325.608 |
319.799 |
354.740 |
|
|
|
(1.784) |
10.926 |
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 |
325.608 |
319.799 |
354.740 |
|
Profit / (Loss) |
0.942 |
(22.240) |
(27.088) |
|
|
0.29% |
(6.95%) |
(7.64%) |
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 |
No |
|
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 |
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 |
PERFORMANCE AND
OUTLOOK
The Company has posted Loss of INR 27.088 million in 2016-17 as against Loss of INR 22.240 million in the previous financial year. Due to challenging economic scenario, there was sluggish demand on account of declining industrial production and deferral of capital investments by customers of steel and cement companies.
Air Pollution Control
Division:
APC division booking and billing for the financial year 2016-17 was considerably lower than the previous year due to weak business sentiments, cash flow crunch with major steel manufacturers, leading to slow down in new investments, differing finalization of projects, and delayed dispatches due to financial difficulties faced by steel manufacturers.
The situation is likely to continue to be challenging. They have been able to book orders in newer segments like Tyre and Chemical industry and are hopeful of better bookings in F.Y 2017-18. Their efforts will be to execute Q1 and Q2 bookings of F.Y 2017-18 in the same year to make up the shortfall.
Industrial Fans
Division:
IFD division has been able to improve order booking in financial year 2016-17 as compared to previous year 2015-16. This was primarily due to better bookings in Sugar Industry and cogeneration. Thrust is to focus on exports and higher capacity process fans in boiler and cement industry.
They expect this division would be able to maintain the momentum and achieve better booking and billing figures in the current financial year with better realization.
The Liquid Pollution
Control division:
They have achieved closure of all old LPC projects .One current project they expect to close in F.Y 2017-18.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
0.000 |
5.000 |
|
Total |
0.000 |
5.000 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
C27369222 |
10524654 |
Bank of Baroda |
16/09/2014 |
- |
15000000.0 |
Mumbai Main Office, 10/12, Mumbai Samachar Marg, Fort, Mumbai-400001, Maharashtra, India |
|
2 |
B44287902 |
10366880 |
Bank of Maharashtra |
28/05/2012 |
- |
30000000.0 |
Appeja House 130, Mumbai Samachar Marg, Fort, Mumbai-400023, Maharashtra, India |
|
3 |
B29425345 |
10327950 |
Bank of Baroda |
22/12/2011 |
- |
250000000.0 |
Corporate Financial Services, Branch No. 10/11, Mumbai Samachar Marg, Fort, Mumbai-400023, Maharashtra, India |
|
4 |
A27768746 |
90218573 |
BANK OF MAHARASHTRA |
14/06/2004 |
14/11/2007 |
19637000.0 |
Industrial Finance Branch, Apeejay House, Dr. V.B. Gandhi Marg, Fort, Mumbai-400023, Maharashtra, India |
|
5 |
G72473663 |
80050485 |
BANK OF MAHARASHTRA |
14/06/2004 |
01/01/2018 |
85383130.0 |
Industrial Finance Branch, Apeejay House, Dr. V.B. Gandhi Marg, Fort, Mumbai-400023, Maharashtra, India |
|
6 |
Y10321657 |
90219092 |
BANK OF MAHARASHTRA |
07/12/1998 |
- |
1402587.0 |
Industrial Finance Branch, Apeejay House, Dr. V.B. Gandhi Marg, Fort, Mumbai-400023, Maharashtra, India |
|
7 |
Y10320197 |
90217632 |
BANK OF MAHARASHTRA |
16/12/1992 |
- |
1000000.0 |
Industrial Finance Branch, Apeejay House, Dr. V.B. Gandhi Marg, Fort, Mumbai-400023, Maharashtra, India |
|
8 |
Y10320141 |
90217576 |
BANK OF MAHARASHTRA |
05/05/1992 |
- |
2000000.0 |
Industrial Finance Branch, Apeejay House, Dr. V.B. Gandhi Marg, Fort, Mumbai-400023, Maharashtra, India |
|
9 |
Y10321441 |
90218876 |
BANK OF MAHARASHTRA |
19/08/1989 |
- |
2000000.0 |
Industrial Finance Branch, Apeejay House, Dr. V.B. Gandhi Marg, Fort, Mumbai-400023, Maharashtra, India |
|
10 |
Y10319881 |
90217316 |
SYNDICATE BANK |
16/05/1989 |
- |
750000.0 |
Tardeo Branch J. Dadaji Road, Tardeo, Mumbai-400034i, Maharashtra, India |
FIXED ASSETS:
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Computer
- Vehicles
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 63.89 |
|
|
1 |
INR 88.60 |
|
Euro |
1 |
INR 78.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
BHG |
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.