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|
MIRA INFORM REPORT
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Report No. : |
487141 |
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Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
FITCAST FOUNDER AND ENGINEERS PRIVATE LIMITED |
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|
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|
Registered
Office : |
314, Phase II, G.I.D.C. Estate Vatva, Ahmedabad – 382445,
Gujarat |
|
Tel. No.: |
91-79-40087749 |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
17.12.1999 |
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|
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Com. Reg. No.: |
04- 037035 |
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Capital
Investment / Paid-up Capital : |
INR 28.051 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U27209GJ1999PTC037035 |
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|
|
|
IEC No.: |
0806013087 |
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GSTIN : |
24AAACF4478L1ZE |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACF4478L |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
· The company is engaged in business as manufacturers, producers, processors, makers, converters, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, merchants, distributors, consignors, jobbers, brokers, concessionaries or deal in high quality casting of metals to act as founders of ferrous metals, sheet workers, mechanical, structural and metallurgical engineers, and to carry on the work of casting and to manufacture of iron and steel · Casting of ferrous metals i.e. iron and steel. (Registered activity and also confirmed by management) |
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No. of Employees
: |
150 (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 |
|
Maximum Credit Limit : |
USD 200300 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1999. It is a Manufacturer, supplier, trader and exporter of ferrous and non-ferrous metals, sheet workers, mechanical, structural and casting of Iron and Steel of all kinds. For the financial year 2017, the company has achieved 81.68% growth in its revenue as compared to previous year revenue and has maintained average profitability margin of 2.00% during the year under review. The satisfactory financial profile of the company is marked by sufficient networth base and favourable gap between trade payables and trade receivables along with negligible debt level. The rating takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. Business is active. Payment terms are reported to be slow but correct. 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 |
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 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 PARTED BY
|
Name : |
Ms. Shruti |
|
Designation : |
Export Manager |
|
Contact No.: |
91-8042903065 |
|
Date : |
22.01.2018 |
LOCATIONS
|
Registered Office/ Factory 1 : |
314, Phase II, G.I.D.C. Estate Vatva, Ahmedabad – 382445,
Gujarat, India |
|
Tel. No.: |
91-79-40087749 |
|
Mobile No.: |
91-8042903065 (Ms. Shruti) 91-9328818997 (Mr. Bhalchandra Bhagwan Andrutkar) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Industrial |
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Factory 2 : |
Plot No. 461/462, Phased, , G.I.D.C. Estate Vatva, Ahmedabad –
382445, Gujarat, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Bhalchandra Bhagwan Andrutkar |
|
Designation : |
Director |
|
Address : |
22/B, Gopalkunj Housing Society, Jawahar Chawck,
Maninagar, Ahmedabad - 380008, Gujarat, India |
|
Date of Birth/Age : |
22.11.1960 |
|
Date of Appointment : |
17.12.1999 |
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DIN No.: |
00343224 |
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|
|
|
Name : |
Mr. Chetan Jashvantlal Champanaria |
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Designation : |
Director |
|
Address : |
8, Lilavati Park, Near Hirabhai Tower, Maninagar,
Ahmedabad – 380008, Gujarat, India |
|
Date of Birth/Age : |
14.04.1961 |
|
Date of Appointment : |
01.02.2000 |
|
DIN No.: |
01081119 |
KEY EXECUTIVES
|
Name : |
Ms. Shruti |
|
Designation : |
Export Manager |
MAJOR SHAREHOLDERS
As on 09.08.2017
|
Names of Shareholders |
|
No. of Shares |
|
Bhalchandra Bhagwan Andhrutkar |
|
738175 |
|
Chetan Jashvantlal Champaneria |
|
548550 |
|
Prakash Vijaykumar Shah |
|
281425 |
|
Dakshaben Bhalchandra Andhrutkar |
|
239250 |
|
Smita Chetan Champaneria |
|
355175 |
|
Sangita Prakash Shah |
|
17500 |
|
Shruti Bhalchandra Andhrutkar |
|
141250 |
|
Bijal Chetan Champaneria |
|
22500 |
|
Krishna Keshav Athale |
|
31425 |
|
Bhagwan Ramchandra Andhrutkar |
|
12250 |
|
Premilaben Bhagwan Andhrutkar |
|
5250 |
|
Angira Ashokbhai Patel |
|
17675 |
|
Ashok Dahyabhai Patel |
|
7762 |
|
Surajbhan Ramdevsinh Rajput |
|
25638 |
|
Dinkar Bhaishankar Upadhyay |
|
8750 |
|
Jashvantlal Nanalal Champaneria |
|
31125 |
|
Ravjibhai Gajanbhai Ari |
|
3675 |
|
Rasikbhai Raghubhai Patel |
|
26250 |
|
S. S. Bhatia |
|
135175 |
|
Rahul Krishna Athale |
|
8750 |
|
Deven Indravadan Dalal |
|
9000 |
|
Manjulaben Jashwantlal Champaneria |
|
7500 |
|
Ramilaben Indravadan Dalal |
|
13500 |
|
Udit Chetan Champaneria |
|
67500 |
|
Jhanvi Bhalchandra Andhrutkar |
|
50000 |
|
Total |
|
2805050 |
Equity Share Break up (Percentage of Total Equity)
As on 09.08.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
79.09 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
20.91 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· The company is engaged in business as manufacturers, producers, processors, makers, converters, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, merchants, distributors, consignors, jobbers, brokers, concessionaries or deal in high quality casting of metals to act as founders of ferrous metals, sheet workers, mechanical, structural and metallurgical engineers, and to carry on the work of casting and to manufacture of iron and steel · Casting of ferrous metals i.e. iron and steel. (Registered activity and also 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 : |
·
Ferrous |
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Countries : |
·
United Kingdom ·
European Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Credit (45 Days), Others (RTGS, NEFT, Bank Transfer) |
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Purchasing : |
Advance Payment, Credit (75 Days), Others (RTGS, NEFT, Bank Transfer) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
OEM’s
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No. of Employees : |
150 (Approximately) |
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Bankers : |
· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India · Small Industrial Development Bank |
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Facilities : |
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Auditors : |
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|
Name : |
D A Rupawala and Associates Chartered Accountants |
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Address : |
705, Mahakant, Opposite V S Hospital Ellisbridge, Ahmedabad – 380006,
Gujarat, India |
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Tel. No.: |
91-79-26579201 |
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Mobile No.: |
91-9824039370 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AATPR7200A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 09.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2805050 |
Equity Shares |
INR 10/- each |
INR 28.051 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 |
28.051 |
28.051 |
28.051 |
|
(b) Reserves & Surplus |
42.045 |
30.855 |
22.765 |
|
(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) |
70.096 |
58.906 |
50.816 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
8.242 |
12.773 |
3.405 |
|
(b) Deferred tax liabilities
(Net) |
4.495 |
4.643 |
5.980 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
12.737 |
17.416 |
9.385 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
29.344 |
22.696 |
33.738 |
|
(b) Trade payables |
93.906 |
35.013 |
20.804 |
|
(c) Other current liabilities |
19.539 |
17.861 |
14.416 |
|
(d) Short-term provisions |
9.187 |
4.126 |
3.324 |
|
Total
Current Liabilities (4) |
151.976 |
79.696 |
72.282 |
|
|
|
|
|
|
TOTAL |
234.809 |
156.018 |
132.483 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
60.532 |
65.395 |
47.309 |
|
(ii) Intangible Assets |
0.193 |
0.380 |
0.418 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.825 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.786 |
1.590 |
5.520 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
61.511 |
67.365 |
54.072 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
17.564 |
22.325 |
21.527 |
|
(c) Trade receivables |
146.339 |
60.503 |
50.380 |
|
(d) Cash and cash equivalents |
1.064 |
1.155 |
0.863 |
|
(e) Short-term loans and
advances |
8.331 |
4.670 |
5.641 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
173.298 |
88.653 |
78.411 |
|
|
|
|
|
|
TOTAL |
234.809 |
156.018 |
132.483 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
558.782 |
307.555 |
286.603 |
|
|
Other Income |
(0.243) |
1.183 |
(0.388) |
|
|
TOTAL
|
558.539 |
308.738 |
286.215 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
340.837 |
132.901 |
130.118 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
2.818 |
(0.582) |
3.889 |
|
|
Employees benefits expense |
53.375 |
30.026 |
23.250 |
|
|
Selling & Administrative Expenses |
8.211 |
11.306 |
10.727 |
|
|
Manufacturing Expenses |
126.566 |
117.889 |
103.281 |
|
|
Exceptional Items |
0.000 |
0.000 |
1.653 |
|
|
TOTAL |
531.807 |
291.540 |
272.918 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
26.732 |
17.198 |
13.297 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
4.146 |
3.907 |
3.598 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
22.586 |
13.291 |
9.699 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
5.672 |
4.850 |
4.011 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
16.914 |
8.441 |
5.688 |
|
|
|
|
|
|
|
Less |
TAX |
5.723 |
0.351 |
1.591 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
11.191 |
8.090 |
4.097 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
28.987 |
20.897 |
18.966 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Effect of enactment of
Schedule II |
0.000 |
0.000 |
0.131 |
|
|
Prior Year Tax Adjustments |
0.000 |
0.000 |
0.597 |
|
|
Assets w/o due to retain
earning |
0.000 |
0.000 |
1.438 |
|
|
Total
|
0.000 |
0.000 |
2.166 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
40.178 |
28.987 |
20.897 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
91.864 |
66.734 |
87.694 |
|
|
TOTAL
EARNINGS |
91.864 |
66.734 |
87.694 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
30.608 |
22.601 |
10.446 |
|
|
TOTAL
IMPORTS |
30.608 |
22.601 |
10.446 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
3.99 |
2.88 |
1.46 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
4.531 |
5.204 |
3.753 |
|
Cash generated from operations |
8.342 |
28.851 |
(2.243) |
|
Net Cash from Operating Activities |
2.472 |
27.283 |
(4.640) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
95.59 |
71.80 |
64.16 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.82 |
5.08 |
5.69 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
100.56 |
96.16 |
58.36 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.52 |
0.77 |
0.62 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.44 |
0.26 |
0.27 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.70 |
0.63 |
0.60 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.60 |
0.69 |
0.80 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
2.17 |
1.35 |
1.42 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.87 |
1.12 |
0.96 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
6.45 |
4.40 |
3.70 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.00 |
2.63 |
1.43 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.77 |
5.19 |
3.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
15.97 |
13.73 |
8.06 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.14 |
1.11 |
1.08 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.02 |
0.83 |
0.79 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.30 |
0.38 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.50 |
1.45 |
1.46 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.14 |
1.11 |
1.08 |
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 |
28.051 |
28.051 |
28.051 |
|
Reserves & Surplus |
22.765 |
30.855 |
42.045 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
50.816 |
58.906 |
70.096 |
|
|
|
|
|
|
long-term borrowings |
3.405 |
12.773 |
8.242 |
|
Short term borrowings |
33.738 |
22.696 |
29.344 |
|
Current maturities of
long-term debts |
3.753 |
5.204 |
4.531 |
|
Total
borrowings |
40.896 |
40.673 |
42.117 |
|
Debt/Equity
ratio |
0.805 |
0.690 |
0.601 |
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 |
286.603 |
307.555 |
558.782 |
|
|
|
7.310 |
81.685 |
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 |
286.603 |
307.555 |
558.782 |
|
Profit |
4.097 |
8.090 |
11.191 |
|
|
1.43% |
2.63% |
2.00% |
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 |
No |
|
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 |
No |
|
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 |
CORPORATE INFORMATION
The company is a private limited company and incorporated under the Companies, Act, 1956. The company is engaged in business as manufacturers, producers, processors, makers, converters, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockiest, agents, merchants, distributors, consignors, jobbers, brokers, concessionaries or otherwise deal in high quality casting of all metals or other materials and to act as founders of ferrous and non-ferrous metals, sheet workers, mechanical, structural and metallurgical engineers, and to carry on the work of cast iron laundry and to manufacture iron, steel, brass, bronze, aluminum of all kinds.
REVIEW OF BUSINESS
OPERATIONS AND FUTURE PROSPECTS
There has been reasonable increase in the export sales due to the efforts of directors. The financial status of the company was satisfactory and the fund position was also found to be comfortable. The company has incurred capital expenditure of INR 0.622 million. The turnover of the company has increased by 80% during the current year. The Directors are happy to report that with better Product Mix, Stringent Cost and Inventory Control Company has been able to achieve better results.
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G71943674 |
10599905 |
HDFC BANK LIMITED |
30/09/2015 |
14/11/2017 |
- |
85000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARG LOWER PAREL W MUMBAI MAHARASHTRA 400013 INDIA |
|
2 |
C54831516 |
10546554 |
Small Industries Development Bank of India |
05/02/2015 |
14/05/2015 |
- |
13000000.0 |
1ST FLOOR, NAVJIVAN AMRIT JAYANTI BHAVAN PO BAG NO.10, NAVJIVAN PO, ASHRAM ROAD AHMEDABAD GUJARAT 380014 INDIA |
|
3 |
B58201393 |
10373269 |
Small Industries Development Bank of India |
24/08/2012 |
11/09/2012 |
- |
7500000.0 |
1ST FLOOR, NAVJIVAN AMRIT JAYANTI BHAVAN PO BAG NO.10, NAVJIVAN PO, ASHRAM ROAD AHMEDABAD GUJARAT 380014 INDIA |
|
4 |
B13452677 |
90105482 |
Small Industries Development Bank of India |
28/01/2005 |
05/05/2011 |
- |
16000000.0 |
1ST FLOOR, NAVJIVAN AMRIT JAYANTI BHAVAN PO BAG NO.10, NAVJIVAN PO, ASHRAM ROAD AHMEDABAD GUJARAT 380014 INDIA |
|
5 |
C79473872 |
10071512 |
BANK OF BARODA |
25/09/2007 |
- |
10/02/2016 |
650000.0 |
ASHRAM ROAD AHMEDABAD GUJARAT 380009 INDIA |
|
6 |
C75975961 |
90104208 |
BANK OF BARODA |
03/07/2003 |
13/08/2014 |
01/01/2016 |
38500000.0 |
ASHRAM ROAD AHMEDABAD GUJARAT 380009 INDIA |
|
7 |
C75973727 |
10527454 |
Bank of Baroda |
14/10/2014 |
- |
31/12/2015 |
1300000.0 |
ASHRAM ROAD AHMEDABAD GUJARAT 380009 INDIA |
|
8 |
B74649518 |
10308397 |
Bank of Baroda |
23/08/2011 |
- |
17/04/2013 |
2500000.0 |
ASHRAM ROAD AHMEDABAD GUJARAT 380009 INDIA |
|
9 |
B69987063 |
10330317 |
Bank of Baroda |
29/11/2011 |
- |
06/03/2013 |
2500000.0 |
ASHRAM ROAD AHMEDABAD GUJARAT 380009 INDIA |
|
10 |
B70599030 |
90106931 |
SBI FACTOR AND COMMERCIAL SERVICES PRIVATE LIMITED |
19/06/2004 |
05/02/2008 |
28/02/2013 |
17500000.0 |
1ST FLOOR, B B C TOWERS,NEAR WORLD TRADE CENTRE, SAYAJIGANJ VADODARA GUJARAT 390005 INDIA |
FIXED ASSETS
- Land and Building
- Plant and Machinery
- Furniture and Fixtures
- Vehicles
- Computers and Printers
- ERP Software
- Simulation Drawing
- MS Windows Home
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 |
|
UK Pound |
1 |
INR 88.64 |
|
Euro |
1 |
INR 78.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
NO |
|
--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.
·