|
|
|
MIRA INFORM REPORT
|
Report No. : |
487255 |
|
Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
LAXMI BAORD AND PAPER MILLS PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 2, MIDC Area, Kalyan Bhiwandi Road, Saravli Kalyan, Thane –
421311, Maharashtra |
|
Tel. No.: |
91-2522-280641 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
25.09.1969 |
|
|
|
|
Com. Reg. No.: |
11-014398 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 72.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1969PTC014398 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL0662Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Dealer of Corrugated Paper and Paper Board (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1969 having satisfactory track
record. It is engaged as manufacturer and dealer of all kinds and classes of
paper, board, and pulp. For the financial record of 2017, the company has reported fair growth
in its revenue as compared to its previous year along with comfortable profit
margin during the year. Rating takes into consideration, the satisfactory financial risk profile
marked by adequate net worth base and comfortable debt level. Rating continue to derive strength from its long and established track
record of business operation backed by its well experienced management team. However, rating strength is partially offset by highly competitive
nature of the industry with presence of other large players and unorganized
sector along with low profit margin. Payments are reported to be usually 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.
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 DENIED BY
|
Name : |
Mr. Rakesh |
|
Designation : |
Finance Account |
|
Contact No.: |
91-2522-280641 |
|
Date : |
20.01.2018 |
LOCATIONS
|
Registered Office : |
Plot No. 2, MIDC Area, Kalyan Bhiwandi Road, Saravli Kalyan, Thane –
421311, Maharashtra, India |
|
Tel. No.: |
91-25-22280641 / 22280708 / 641 / 371 |
|
Fax No.: |
91-25-22280755 / 643 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Mumbai Address : |
Ground Floor, Shiv Samruddhi Apartments, Road #38, Station Road, Behind Notan Hieghts, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Tel. No.: |
91-22-26552951 / 52 / 53 |
|
Fax No.: |
91-22-26552956 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Manish Mahendra Patel |
|
Designation : |
Director |
|
Address : |
12, 13th Cross, Vani Vilas Mohalla Jayalakshmi Puram, Mysore – 570002, Karnataka, India |
|
Date of Appointment : |
26.03.1990 |
|
DIN No.: |
00128179 |
|
|
|
|
Name : |
Mr. Dineshchandra Chandulal Patel |
|
Designation : |
Managing Director |
|
Address : |
Aurum, Lala Jamnadas Gupta Marg, Deonar, Mumbai – 400088, Maharashtra, India |
|
Date of Birth/Age : |
16/10/1938 |
|
Qualification : |
BAR AT LAW U. K. |
|
Date of Appointment : |
12.02.1973 |
|
PAN No.: |
ABBPP4124C |
|
DIN No.: |
00167581 |
|
|
|
|
Name : |
Mr. Rajesh Modi |
|
Designation : |
Managing Director |
|
Address : |
701, Neel Sagar, 23/B, Perry Cross Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
24/02/1954 |
|
Qualification : |
B. COM. |
|
Date of Appointment : |
24.08.2000 |
|
PAN No.: |
AFPPM6400E |
|
DIN No.: |
00167599 |
|
|
|
|
Name : |
Mr. Kirit Natvarlal Modi |
|
Designation : |
Director |
|
Address : |
Q3-Q4, 17-B, Eden Hall, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India |
|
Date of Appointment : |
27.05.2003 |
|
DIN No.: |
00167607 |
|
|
|
|
Name : |
Mr. Harshad Natvarlal Modi |
|
Designation : |
Wholetime Director |
|
Address : |
B-201, Ruby Apartments, 3rd Floor, Presidency Society 7th, North South Road, Jvpd Scheme, Vile Parle (West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
18/08/1952 |
|
Qualification : |
GRADUATE |
|
Date of Appointment : |
01.06.2003 |
|
PAN No.: |
AEAPM8485M |
|
DIN No.: |
00167613 |
|
|
|
|
Name : |
Mr. Jitendra Ambalal Patel |
|
Designation : |
Director |
|
Address : |
70 Sopanbaug Co-Operative Housing Society, Ghorpuri, Pune – 411001, Maharashtra, India |
|
Date of Appointment : |
25.06.2004 |
|
DIN No.: |
00248302 |
|
|
|
|
Name : |
Mr. Ajay Dineshchandra Patel |
|
Designation : |
Wholetime Director |
|
Address : |
Aurum, Lala Jamnadas Gupta Marg, Deonar Farm Road, Deonar, Behind Tata School, Mumbai – 400088, Maharashtra, India |
|
Date of Birth/Age : |
10/12/1968 |
|
Qualification : |
B.E.M.B.A., USA |
|
Date of Appointment : |
01.07.2009 |
|
PAN No.: |
ABAPP3615P |
|
DIN No.: |
00466905 |
|
|
|
|
Name : |
Mr. Rachit Rajesh Modi |
|
Designation : |
Director |
|
Address : |
701, Neel Sagar, 23 B, Perry Cross Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Appointment : |
26.03.2010 |
|
DIN No.: |
02850945 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh |
|
Designation : |
Finance Account |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
73.30 |
|
Promoter – (Individual/ Hindu Undivided
Family – Non-resident Indian (NRI) |
26.70 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Dealer of Corrugated Paper and Paper Board (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Vijay T Parmar and Company Chartered Accountants |
|
Address : |
101, Madhav Baug Apartment, Opposite Bank of Maharashtra, Gaushala Road, Shivaji Path, Kalyan (West)-421301, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AEVPP1149P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
INR 10/- each |
INR 75.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7200000 |
Equity Shares |
INR 10/- each |
INR 72.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
72.000 |
72.000 |
72.000 |
|
(b) Reserves and Surplus |
510.124 |
487.169 |
493.831 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
582.124 |
559.169 |
565.831 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
132.599 |
104.984 |
1.024 |
|
(b) Deferred tax liabilities (Net) |
144.174 |
125.610 |
62.745 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.078 |
2.078 |
2.370 |
|
Total Non-current
Liabilities (3) |
278.851 |
232.672 |
66.139 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
288.287 |
258.835 |
295.824 |
|
(b) Trade
payables |
105.514 |
88.722 |
78.527 |
|
(c) Other
current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term
provisions |
145.969 |
132.299 |
112.935 |
|
Total Current
Liabilities (4) |
539.770 |
479.856 |
487.286 |
|
|
|
|
|
|
TOTAL |
1400.745 |
1271.697 |
1119.256 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
640.586 |
608.824 |
381.661 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
133.020 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.001 |
0.001 |
0.001 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
640.587 |
608.825 |
514.682 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
219.346 |
182.884 |
195.488 |
|
(c) Trade
receivables |
275.741 |
251.057 |
210.546 |
|
(d) Cash and
bank balances |
19.967 |
10.478 |
14.589 |
|
(e)
Short-term loans and advances |
245.104 |
218.453 |
183.951 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
760.158 |
662.872 |
604.574 |
|
|
|
|
|
|
TOTAL |
1400.745 |
1271.697 |
1119.256 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2158.760 |
2046.217 |
1989.289 |
|
|
Other Income |
1.273 |
3.526 |
4.364 |
|
|
TOTAL |
2160.033 |
2049.743 |
1993.653 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1236.601 |
1145.861 |
1155.615 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(4.660) |
9.659 |
(14.963) |
|
|
Employee benefit expense |
119.854 |
98.120 |
89.792 |
|
|
CSR expenditure |
2.033 |
2.325 |
2.603 |
|
|
Other expenses |
646.489 |
621.380 |
605.806 |
|
|
TOTAL |
2000.317 |
1877.345 |
1838.853 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
159.716 |
172.398 |
154.800 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
42.651 |
36.977 |
28.709 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
117.065 |
135.421 |
126.091 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
48.878 |
47.218 |
44.894 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
68.187 |
88.203 |
81.197 |
|
|
|
|
|
|
|
Less |
TAX |
32.564 |
81.866 |
21.669 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
35.623 |
6.337 |
59.528 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
441.192 |
454.854 |
413.961 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
5.000 |
7.000 |
6.000 |
|
|
Proposed Dividend |
12.669 |
12.999 |
12.635 |
|
|
Total
|
17.669 |
19.999 |
18.635 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
459.146 |
441.192 |
454.854 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1162.553 |
1076.144 |
998.828 |
|
|
Components and spare
parts |
2.502 |
4.683 |
6.906 |
|
|
Capital Goods |
2.364 |
0.000 |
0.886 |
|
|
TOTAL IMPORTS |
1167.418 |
1080.827 |
1006.620 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
7.53 |
9.61 |
7.04 |
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 |
277.083 |
138.158 |
170.865 |
|
Net cash flows from (used in) operating activities |
263.083 |
119.158 |
143.665 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
46.62 |
44.78 |
38.63 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
7.83 |
8.15 |
9.45 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
31.14 |
28.26 |
24.80 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.73 |
0.94 |
0.79 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.25 |
0.28 |
0.30 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.48 |
0.46 |
0.44 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.72 |
0.65 |
0.52 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.93 |
0.86 |
0.86 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.10 |
1.09 |
0.91 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.74 |
4.66 |
5.39 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.65 |
0.31 |
2.99 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.54 |
0.50 |
5.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
6.12 |
1.13 |
10.52 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.41 |
1.38 |
1.24 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
1.00 |
1.00 |
0.84 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.42 |
0.44 |
0.51 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
5.85 |
5.05 |
4.12 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.41 |
1.38 |
1.24 |
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 |
72.000 |
72.000 |
72.000 |
|
Reserves & Surplus |
493.831 |
487.169 |
510.124 |
|
Net
worth |
565.831 |
559.169 |
582.124 |
|
|
|
|
|
|
Long-term borrowings |
1.024 |
104.984 |
132.599 |
|
Short term borrowings |
295.824 |
258.835 |
288.287 |
|
Total
borrowings |
296.848 |
363.819 |
420.886 |
|
Debt/Equity
ratio |
0.525 |
0.651 |
0.723 |
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 |
1989.289 |
2046.217 |
2158.760 |
|
|
0.000 |
2.862 |
5.500 |
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 |
1989.289 |
2046.217 |
2158.760 |
|
Profit/ (Loss) |
59.528 |
6.337 |
35.623 |
|
|
2.99
% |
0.31
% |
1.65
% |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
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 |
OPERATIONS:
Production for the year (2016-17) has been 65450 mt against 60,891 mt for the previous accounting year - a slight increase of 4559 mt. Gross sales for the year reached INR 2291.900 Million as against INR 2170.700 Million. However there was a reduction in profit by INR. 20.016 million which was on account of unremunerative selling prices coupled with an increase in waste paper and coal prices. Only the last quarter witnessed better demand with increased price of finished paper.
CURRENT AND FUTURE
PROSPECTS:
For the first quarter of the present year, demand for the packaging paper had shown signs of improvement. However, at the same time with new and additional capacities having come into production in Western Maharashtra, market has become extremely competitive.
The Company has also felt the after effects of introduction of GST as flow of fresh orders has been reduced.
FINANCES:
From the cash generation of INR 158.432 Million including Depreciation of INR 48.878 Million, the Company has repaid term loans of INR 34.900 Million to Canara Bank. The balance amount of INR 109.554 Million has been utilized in working capital and capital expenditure.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term Borrowings |
|
|
|
Rupee term loans from banks |
72.500 |
50.600 |
|
|
|
|
|
Total |
72.500 |
50.600 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G47823513 |
10480947 |
01/03/2014 |
25/04/2017 |
- |
150000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
|
2 |
C67480640 |
10047112 |
07/04/2007 |
25/08/2015 |
- |
470000000.0 |
KALYAN MAIN BRANCHSTATION ROADKALYANMH421301IN |
|
|
3 |
G30403570 |
90143248 |
01/02/2001 |
01/12/2016 |
- |
470000000.0 |
Station RoadKalyan WestMH421301IN |
|
|
4 |
C19600915 |
90144223 |
16/12/2002 |
- |
12/08/2014 |
50000000.0 |
STATION ROADKALYANMHIN |
|
|
5 |
C14188775 |
10277714 |
14/03/2011 |
- |
18/07/2014 |
1166000.0 |
STATION ROADKALYANMH421301IN |
|
|
6 |
C14665269 |
10277712 |
14/03/2011 |
- |
18/07/2014 |
822000.0 |
STATION ROADKALYANMH421301IN |
|
|
7 |
C02592913 |
90142018 |
03/09/1997 |
- |
16/04/2014 |
840000.0 |
STATION ROADKALYANMHIN |
|
|
8 |
C02593580 |
90144600 |
23/07/2003 |
- |
16/04/2014 |
10000000.0 |
STATION ROADKALYANMH421301IN |
|
|
9 |
C02593770 |
90144656 |
28/08/2003 |
- |
16/04/2014 |
10000000.0 |
STATION ROADKALYANMH421301IN |
|
|
10 |
C02593028 |
90142234 |
07/10/1998 |
- |
16/04/2014 |
1150000.0 |
STATION ROADKALYANMH421301I |
FIXED ASSETS
- Land
- Buildings
- Office building
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
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 63.88 |
|
|
1 |
INR 88.59 |
|
Euro |
1 |
INR 78.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLK |
|
|
|
|
Analysis Done by
: |
NSR |
|
|
|
|
Report Prepared
by : |
SUJ |
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.