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MIRA INFORM REPORT
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Report No. : |
487594 |
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Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
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Name : |
INOX AIR PRODUCTS PRIVATE LIMITED [w.e.f. 11.04.2015] |
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Formerly Known
As : |
INOX AIR PRODUCTS
LIMITED INDUSTRIAL OXYGEN COMPANY LIMITED INDUSTRIAL
OXYGEN COMPANY PRIVATE LIMITED |
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Registered
Office : |
7th Floor, Ceejay House, Dr. Annie Beasant Road, Worli,
Mumbai - 400018, Maharashtra |
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Tel. No.: |
91-22-40323195 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
04.04.1963 |
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Com. Reg. No.: |
11-012625 |
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Capital
Investment / Paid-up Capital : |
INR 103.407 Million |
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CIN No.: [Company Identification
No.] |
U24999MH1963PTC012625 |
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IEC No.: |
0388075279 |
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GSTIN/UIN: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACI5569D |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Subject is primarily engaged in the business of manufacture, trading and supply of industrial and medical gases including on job work / processing basis and also derives income from gas plants given on operating leases and allied activities. (Registered activity) |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Inox Air Products Private Limited was incorporated in the year 1963. It is primarily engaged in the business of manufacture, trading and supply of industrial and medical gases including on job work / processing basis and also derives income from gas plants given on operating leases and allied activities. For the financial year 2016, the company has achieved 10.71% growth in its revenue as compared to previous year revenue and has maintained healthy profitability margin of 21.03% during the year under review. The healthy financial profile of the company is marked by strong networth base along with strong debt coverage indicators due to low debt balance sheet profile. The company has decent Earning per Share (EPS) of INR. 221.49 against the Face Value (FV) of INR.10. Rating also derives strength from company’s established track record and extensive experience of the promoters/management in the industrial & medical gas business, the company’s strong foothold in the Indian market for industrial gases. However, rating strengths are partially offset by exposure to intense competition in the commoditized industrial gas industry and to cyclical demand in end-user segments. Business is active. Payments are reported to be regular. In view of aforesaid, Inox Air Products Private Limited can be considered for business dealings at usual trade terms and conditions. Note: As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to financial for the year 31.03.2017 are not available from any sources. |
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) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long term: AA |
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Rating Explanation |
High degree of safety and very low credit
risk. |
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Date |
23.02.2017 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term: A1+ |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
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Date |
23.02.2017 |
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
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Name : |
Mr. Ravi |
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Designation : |
Accounts Manager |
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Contact No.: |
91-22-40323195 |
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Date : |
20.01.2018 |
LOCATIONS
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Registered Office : |
7th Floor, Ceejay House, Dr. Annie Besant Road, Worli,
Mumbai - 400018, Maharashtra, India |
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Tel. No.: |
91-22-40323195/40323960 |
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Fax No.: |
91-22-40323191/ 40323991 |
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E-Mail : |
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Website : |
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Factory 1 : |
Raj Bhavan Road, Somajiguda, 6-3-902 / D / 202, F No.202, Durga
Apartments, Hyderabad, Telangana, India |
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Factory 2 : |
Village Kunjhal, Industrial Area, Barotiwala, District Solan-174103, Himachal Pradesh, India |
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Tel. No.: |
91-1795-271127/ 271128 |
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Fax No.: |
91-1795-271115 |
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Factory 3: |
Plot No 38, IDA, Phase - I, Pashamlaram Patancheru Mandal, Medak -
502307, Hyderabad, Telangana, India |
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Admin Office: |
Flat No.104, 4th Floor, Plot No. 1098, Jubille Hills,
Hyderabad, Telangana, India |
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Sales Centers and Depots : |
Located At · Ahmedabad · Andaman and Nicobar Islands · Telangana · Bangalore · Bharuch · Surat · Vadodara · Jharkhand · Bellary · Bhopal · Indore · Alwar · Bhandara · Nagpur · Navi Mumbai · Raigad · Mumbai · Pune · Boisar · Thane · Wardha · Punjab · Tamilnadu · Uttar Pradesh · West Bengal |
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Branch Office : |
4th Floor ABS Towers Old Padre Road Vadodara, Gujarat,
India |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Pavan Kumar Jain |
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Designation : |
Managing Director |
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Address : |
Benzer Terrace, 94 Worli Sea Face, Mumbai – 4000018, Maharashtra, India |
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Date of Birth/Age : |
17.05.1951 |
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Qualification : |
B.E.(Chem.) |
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Date of Appointment : |
17.10.2004 |
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PAN No.: |
AAJPJ5851D |
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DIN No.: |
00030098 |
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Other Directorship:
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Name : |
Mr. Siddharth Jain |
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Designation : |
Whole-time director |
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Address : |
94, Benzar Terrace, Worli, Sea Face, Mumbai-400018, Maharashtra, India |
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Date of Birth/Age : |
21.09.1978 |
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Qualification : |
B.E.(Mech.) |
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Date of Appointment : |
01.04.2017 |
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PAN No.: |
ACYPJ7083L |
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DIN No.: |
00030202 |
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Other Directorship:
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Name : |
Mr. Vivek Kumar Jain |
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Designation : |
Director |
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Address : |
47, Golf Links, New Delhi-110003, India |
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Date of Birth/Age : |
30.08.1955 |
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Date of Appointment : |
31.12.1984 |
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DIN No.: |
00029968 |
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Other Directorship:
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Name : |
Mr. Subodh Kumar Jain |
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Designation : |
Director |
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Address : |
36, Golf Links, New Delhi – 110003, Delhi, India |
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Date of Birth/Age : |
02.04.1952 |
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Date of Appointment : |
17.07.1976 |
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DIN No.: |
00031010 |
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Other Directorship:
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Name : |
Michael Scott Crocco |
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Designation : |
Director |
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Address : |
8865 Clearwater Circle Fogelsville Pennsylvania 18051 Us |
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Date of Appointment : |
30.09.2015 |
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DIN No.: |
07070320 |
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Name : |
Seifollah Ghasemi |
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Designation : |
Director |
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Address : |
22 Pumphouse Lane New Vernon New Jersey 07976 Us |
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Date of Appointment : |
30.09.2015 |
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DIN No.: |
07070434 |
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Name : |
Richard John Boocock |
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Designation : |
Director |
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Address : |
22 Woodsome Lodge Weybridge Kt130dh Gb |
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Date of Appointment : |
30.09.2016 |
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DIN No.: |
07404093 |
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Other Directorship:
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Name : |
David John Leney |
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Designation : |
Director |
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Address : |
46 Old Charlton Road Shepperton Middlesex Tw178bh Gb |
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Date of Appointment : |
30.09.2016 |
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DIN No.: |
07546881 |
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DIN No.: |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Vinit Shukla |
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Designation : |
Company Secretary |
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Address : |
901, Manisha Purti CHS Limited New Shastri Nagar, Goregaon
(West), Mumbai 400104, Maharashtra, India |
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Date of Appointment : |
01.10.2017 |
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Pan No.: |
BOEPS2836F |
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Name : |
Surendra Choudhary |
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Designation : |
Chief Finance officer |
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Address : |
Flat 405 Floor 4th Raheja Residency Plot No 48/24,25,26 Sector 14 M.G. Complex, Vashi, Navi Mumbai – 400703, Maharashtra, India |
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Date of Appointment : |
08.05.2014 |
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PAN No: |
ACQPC0455M |
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Name : |
Mr. Ravi |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
SHAREHOLEDR’S DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
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Promoters- Body corporate |
49.74 |
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Promoters- Others |
49.74 |
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Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
0.13 |
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Public/Other than promoters - Body corporate |
0.01 |
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Public/Other than promoters- Others |
0.38 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of manufacture, trading and supply of industrial and medical gases including on job work / processing basis and also derives income from gas plants given on operating leases and allied activities. (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 : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
(INR
In Million)
|
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Auditors : |
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|
Name : |
Patankar and Associates Chartered Accountants |
|
Address : |
Office no. 19-23, 4th Floor, Goldwings, S. No. 118/A, Plot No.543, Parvati Nagar, Sinhgad Road, Pune - 411030, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFP8926B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprise having
significant influence, its holding/associate companies (AS ON 31.03.2016): |
[U24200PN2009PTC133706] |
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Enterprise over
which Key Management Personnel, or his relative, has significant influence
(AS ON 31.03.2016): |
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|
Joint Venture (AS
ON 31.03.2016): |
[U40200KA2005PTC036482] |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 10/- each |
INR 300.000 Million |
|
1500000 |
Preference Shares |
INR 100/- each |
INR 150.000 Million |
|
|
Total |
|
INR 450.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10340697 |
Equity Shares |
INR 10/- each |
INR 103.407 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are INR
Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
103.407 |
103.407 |
103.407 |
|
(b) Reserves and Surplus |
16186.270 |
13873.960 |
12021.065 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
16289.677 |
13977.367 |
12124.472 |
|
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|
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|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6345.979 |
8363.143 |
8438.313 |
|
(b) Deferred tax liabilities (Net) |
2580.918 |
2304.887 |
2116.670 |
|
(c) Other long-term
liabilities |
338.779 |
458.478 |
473.821 |
|
(d) long-term
provisions |
78.845 |
57.816 |
51.538 |
|
Total Non-current
Liabilities (3) |
9344.521 |
11184.324 |
11080.342 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
2.454 |
214.874 |
186.882 |
|
(b) Trade
payables |
348.601 |
310.540 |
440.894 |
|
(c) Other
current liabilities |
1502.656 |
2042.672 |
1783.678 |
|
(d) Short-term
provisions |
115.687 |
209.568 |
115.095 |
|
Total Current
Liabilities (4) |
1969.398 |
2777.654 |
2526.549 |
|
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|
|
|
|
TOTAL |
27603.596 |
27939.345 |
25731.363 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
20907.173 |
13100.821 |
13696.788 |
|
(ii)
Intangible Assets |
16.812 |
13.994 |
13.034 |
|
(iii) Tangible assets
capital work-in-progress |
392.852 |
343.034 |
191.786 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
276.458 |
276.463 |
276.438 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
425.484 |
7805.388 |
8107.236 |
|
(e) Other
Non-current assets |
63.521 |
81.171 |
1.899 |
|
Total Non-Current
Assets |
22082.300 |
21620.871 |
22287.181 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
201.155 |
0.025 |
0.025 |
|
(b)
Inventories |
768.303 |
730.183 |
654.921 |
|
(c) Trade
receivables |
1900.049 |
1588.801 |
1316.010 |
|
(d) Cash and
bank balances |
2001.492 |
3052.105 |
665.717 |
|
(e)
Short-term loans and advances |
274.366 |
377.331 |
441.436 |
|
(f) Other
current assets |
375.931 |
570.029 |
366.073 |
|
Total
Current Assets |
5521.296 |
6318.474 |
3444.182 |
|
|
|
|
|
|
TOTAL |
27603.596 |
27939.345 |
25731.363 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
10888.515 |
9835.267 |
8764.356 |
|
|
Other Income |
1514.623 |
1753.338 |
354.554 |
|
|
TOTAL |
12403.138 |
11588.605 |
9118.910 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
701.588 |
622.132 |
543.049 |
|
|
Purchases of
Stock-in-Trade |
261.060 |
305.497 |
416.036 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
3.659 |
(10.201) |
(1.655) |
|
|
Employee benefit expense |
1026.128 |
1004.099 |
808.886 |
|
|
CSR expenditure |
9.625 |
3.000 |
0.000 |
|
|
Other expenses |
4897.323 |
4743.088 |
3927.227 |
|
|
TOTAL |
6899.383 |
6667.615 |
5693.543 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
5503.755 |
4920.990 |
3425.367 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
951.955 |
1116.098 |
447.789 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4551.800 |
3804.892 |
2977.578 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1047.705 |
904.298 |
917.204 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
3504.095 |
2900.594 |
2060.374 |
|
|
|
|
|
|
|
Less |
TAX |
1213.781 |
1020.763 |
695.215 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2290.314 |
1879.831 |
1365.159 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
181.693 |
73.084 |
118.415 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Interim/Proposed dividend |
51.703 |
51.703 |
51.703 |
|
|
Tax on dividend |
10.526 |
10.526 |
8.787 |
|
|
Transfer to Debenture Redemption Reserve |
350.000 |
350.000 |
350.000 |
|
|
Transfer to General Reserve |
1700.000 |
1358.993 |
1000.000 |
|
|
Balance
Carried to the B/S |
359.778 |
181.693 |
73.084 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
24.383 |
9.805 |
8.072 |
|
|
TOTAL EARNINGS |
24.383 |
9.805 |
8.072 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
108.552 |
138.811 |
136.818 |
|
|
Components and spare
parts |
40.564 |
64.956 |
32.499 |
|
|
Capital Goods |
27.052 |
248.788 |
103.812 |
|
|
TOTAL IMPORTS |
176.168 |
452.555 |
273.129 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
221.49 |
181.79 |
132.02 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
854.665 |
1275.183 |
1024.552 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
3546.235 |
3300.637 |
2977.197 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
2625.549 |
2526.670 |
2571.942 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
63.69 |
58.96 |
54.81 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.73 |
6.19 |
6.66 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
132.18 |
122.19 |
167.79 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
7.16 |
6.74 |
5.23 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.26 |
0.37 |
0.25 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.33 |
0.44 |
0.47 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.44 |
0.70 |
0.80 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.12 |
0.20 |
0.21 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.31 |
0.96 |
1.15 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.78 |
4.41 |
7.65 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
21.03 |
19.11 |
15.58 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
8.30 |
6.73 |
5.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
14.06 |
13.45 |
11.26 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.80 |
2.27 |
1.36 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.41 |
2.01 |
1.10 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.59 |
0.50 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
69.66 |
95.29 |
93.32 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.80 |
2.27 |
1.36 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
103.407 |
103.407 |
103.407 |
|
Reserves & Surplus |
12021.065 |
13873.960 |
16186.270 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
12124.472 |
13977.367 |
16289.677 |
|
|
|
|
|
|
Long-term borrowings |
8438.313 |
8363.143 |
6345.979 |
|
Short term borrowings |
186.882 |
214.874 |
2.454 |
|
Current maturities of
long-term debts |
1024.552 |
1275.183 |
854.665 |
|
Total
borrowings |
9649.747 |
9853.200 |
7203.098 |
|
Debt/Equity
ratio |
0.796 |
0.705 |
0.442 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
8764.356 |
9835.267 |
10888.515 |
|
|
|
12.219 |
10.709 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
8764.356 |
9835.267 |
10888.515 |
|
Profit/ (Loss) |
1365.159 |
1879.831 |
2290.314 |
|
|
15.58
% |
19.11
% |
21.03
% |
BALANCE
SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
|
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
103.407 |
|
(b) Reserves and Surplus |
|
|
16593.617 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
(d) Minority interest |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
|
16697.024 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
6345.979 |
|
(b) Deferred tax liabilities (Net) |
|
|
2712.314 |
|
(c) Other long-term
liabilities |
|
|
380.031 |
|
(d) long-term
provisions |
|
|
78.845 |
|
Total Non-current
Liabilities (3) |
|
|
9517.169 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
|
2.454 |
|
(b) Trade
payables |
|
|
331.151 |
|
(c) Other
current liabilities |
|
|
1506.720 |
|
(d) Short-term
provisions |
|
|
121.794 |
|
Total Current
Liabilities (4) |
|
|
1962.119 |
|
|
|
|
|
|
TOTAL |
|
|
28176.312 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
|
|
21490.034 |
|
(ii)
Intangible Assets |
|
|
16.836 |
|
(iii) Tangible assets
capital work-in-progress |
|
|
392.852 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
181.633 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d)
Long-term loans and advances |
|
|
432.859 |
|
(e) Other
Non-current assets |
|
|
63.521 |
|
Total Non-Current
Assets |
|
|
22577.735 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
|
|
201.155 |
|
(b)
Inventories |
|
|
787.525 |
|
(c) Trade
receivables |
|
|
1939.752 |
|
(d) Cash and
bank balances |
|
|
2013.850 |
|
(e)
Short-term loans and advances |
|
|
280.276 |
|
(f) Other
current assets |
|
|
376.019 |
|
Total
Current Assets |
|
|
5598.577 |
|
|
|
|
|
|
TOTAL |
|
|
28176.312 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
|
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
11302.410 |
|
|
Other Income |
|
|
1488.643 |
|
|
TOTAL |
|
|
12791.053 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
|
673.724 |
|
|
Purchases of
Stock-in-Trade |
|
|
239.298 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
3.665 |
|
|
Employee benefit expense |
|
|
1026.128 |
|
|
CSR expenditure |
|
|
9.625 |
|
|
Other expenses |
|
|
5193.529 |
|
|
TOTAL |
|
|
7145.969 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
5645.084 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
951.956 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
4693.128 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
1088.868 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
|
3604.260 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
1258.068 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
|
2346.192 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
226.89 |
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 |
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 |
No |
|
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 |
CORPORATE
INFORMATION
Subject is a closely held company and is a joint venture company between the Jain group and Air Products and Chemical Inc., USA. The Company is engaged in the manufacture, trading and supply of industrial and medical gases including on job work / processing basis. The Company has also given plants on operating lease and earns operations and maintenance charges in respect of the said plants. The Company mainly caters to the domestic market. The Company has passed a special resolution in the Extra Ordinary General Meeting held on 25th March, 2015 and has been converted in to a private company and the name of the Company has been changed to Inox Air Products Private Limited from Inox Air Products Limited w.e.f. 11th April, 2015.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2016 |
As
on 31.03.2015 |
|
LONG TERM
BORROWING |
|
|
|
Deferred sales tax loan |
13.498 |
19.865 |
|
Intercorporate borrowings |
270.300 |
292.300 |
|
Total |
283.798 |
312.165 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G51153450 |
100117577 |
ST HELEN'S
NOMINEES INDIA PRIVATE LIMITED |
29/07/2017 |
- |
- |
1061445000.0 |
1ST FLOOR,
CRESCENZO BUILDING, C-38/39,"G" BLOCK, BANDRA KURLA COMPLEX,BANDRA
(EAST)MUMBAIMA400051IN |
|
2 |
G09866740 |
100045609 |
LIC HOUSING
FINANCE LTD |
27/05/2016 |
- |
- |
200000000.0 |
BOMBAY LIFE BLDG.,
2ND FLOOR,45/47, VEER NARIMAN ROAD,MUMBAI- 400 001.MA400001IN |
|
3 |
G01766286 |
10488969 |
AXIS TRUSTEE
SERVICES LIMITED |
28/03/2014 |
31/03/2016 |
- |
7000000000.0 |
AXIS HOUSE, 2ND
FLR, BOMBAY DYEING MILLS COMPOUND,PANDURANG BUDHKAR MARG, WORLI,MUMBAIMA400025IN |
|
4 |
G10408490 |
10417525 |
DEUTSCHE BANK AG |
28/03/2013 |
04/08/2016 |
- |
545000000.0 |
DEUTSCHE BANK
HOUSEHAZARIMAL SOMANI MARG, FORTMUMBAIMH400001IN |
|
5 |
B75322222 |
10401702 |
STANDARD CHARTERED
BANK |
25/01/2013 |
09/05/2013 |
- |
554800000.0 |
23,NARAIN
MANZILBARAKHAMBA ROADNEW DELHIDL110001IN |
|
6 |
A98892185 |
90224803 |
BANK OF
MAHARASHTRA |
17/04/1997 |
26/10/2010 |
- |
1416400000.0 |
628/29 SACHPIR
STREET,CAMP BRANCHPUNEMH411001IN |
|
7 |
G34376707 |
10243648 |
BANK OF
MAHARASHTRA |
27/09/2010 |
- |
02/01/2017 |
415000000.0 |
628/629, SACHPIR
STREETCAMP BRANCHPUNEMH411001IN |
|
8 |
G34375931 |
10243652 |
BANK OF
MAHARASHTRA |
27/09/2010 |
- |
02/01/2017 |
135000000.0 |
628/629, SACHPIR STREET,CAMP
BRANCHPUNEMH411001IN |
|
9 |
G23764673 |
10277095 |
BNP PARIBAS |
10/03/2011 |
- |
02/11/2016 |
532200000.0 |
20, COLLYER
QUAYTUNG CENTRE,SINGAPORENA049319SG |
|
10 |
G15469372 |
10239286 |
DBS BANK LIMITED |
15/09/2010 |
- |
06/10/2016 |
372400000.0 |
FORT HOUSE, 3RD
FLOOR,221, DR. D.N. ROAD, FORTMUMBAIMH400001IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
Intangible assets
- Computer software
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 : |
PNM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KVT |
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.