|
|
|
MIRA INFORM REPORT
|
Report No. : |
487423 |
|
Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
PRAGATI ELECTRICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. R - 230 TTC MIDC, Industrial Area, Rabale, Navi Mumbai–
400701, Maharashtra |
|
Tel. No.: |
91-22-30923500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
06.05.1975 |
|
|
|
|
Com. Reg. No.: |
11-018322 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 8.190 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109MH1975PTC018322 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GST No.: |
27AAACP3897M1ZR |
|
|
|
|
TIN No.: |
27140000938 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP3897M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Instrument Transformers such as Current
Transformer, Power Transformer, etc. [Registered Activity and also Confirmed
by Management] |
|
|
|
|
No. of Employees
: |
300 (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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the 1975. It is a manufacturer and exporter of Instrument Transformers such as Current Transformer and Power Transformer. For the financial year 2017, the revenue of the company has increased by 23.16% but has reported low profit margin of 0.83%. The sound financial profile of the company is marked by adequate networth base along with negligible debt level. Rating also derives strength from company’s established track record of business. Business is active. 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.
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 |
SMERA |
|
Rating |
Cash Credit=BB |
|
Rating Explanation |
Moderate risk of default |
|
Date |
10.12.2016 |
|
|
|
|
Rating Agency Name |
SMERA |
|
Rating |
Bank Gurantee=A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
10.12.2016 |
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 : |
Mr. Sudhir Mandhare |
|
Designation : |
Senior Manager in Marketing |
|
Contact No.: |
91-9664451613 |
|
Date : |
20.01.2018 |
LOCATIONS
|
Registered Office : |
Plot No. R - 230 TTC MIDC, Industrial Area, Rabale, Navi Mumbai–
400701, Maharashtra, India |
|
Tel. No.: |
91-22-30923500 [100 Lines] |
|
Mobile No.: |
91-9664451613 [Mr. Sudhir Mandhare] |
|
Fax No.: |
91-22-27697225 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head
Office/ Factory 1 : |
280/3, 2nd Pokhran Road, Thane-400 610, Maharashtra,
India |
|
Tel. No.: |
91-22-39853500 (100 Lines) / 21730942 |
|
Fax No.: |
91-22-21730945 |
|
|
|
|
Factory
2 : |
Plot No. A-2/16, MIDC Industrial Area,
Murbad, District Thane-421401, Maharashtra, India |
|
Tel. No.: |
91-2524-223877 |
|
Fax No.: |
91-2524-223533 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Prakash Prabhakar Gune |
|
Designation : |
Managing Director |
|
Address : |
152/5, Vaishali Govind Pendse Lane, Brahmin Society,
Naupada, Thane-400602, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1944 |
|
Date of Appointment : |
06.05.1975 |
|
DIN No.: |
00615252 |
|
|
|
|
Name : |
Mr. Prashant Prakash Gune |
|
Designation : |
Wholetime Director |
|
Address : |
10, Yashomaya Co-opt.Housing Scty. Brahmin Soceity,
Naupada, Thane- 400602, Maharashtra, India |
|
Date of Birth/Age : |
18.05.1968 |
|
Date of Appointment : |
10.10.1997 |
|
DIN No.: |
00635700 |
|
|
|
|
Name : |
Mrs. Cheryl Titus Mendes |
|
Designation : |
Director |
|
Address : |
Shaffi Manzil 57, L.J. Road, Mahim, Mumbai-400016, Maharashtra,
India |
|
Date of Birth/Age : |
04.09.1951 |
|
Date of Appointment : |
10.10.1997 |
|
DIN No.: |
00689280 |
|
|
|
|
Name : |
Mr. Nachiket Prakash Gune |
|
Designation : |
Director |
|
Address : |
2b Vaishali Govind Brahmin Soc, Naupada, Thane-400602, Maharashtra,
India |
|
Date of Birth/Age : |
28.09.1973 |
|
Date of Appointment : |
27.01.2007 |
|
PAN No.: |
ABQPG2659C |
|
DIN No.: |
01264204 |
KEY EXECUTIVES
|
Name : |
Mr. Sudhir Mandhare |
|
Designation : |
Senior Manager in Marketing |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Prakash P. Gune |
|
19890 |
|
Prabha R Karandikar |
|
1956 |
|
Vidula P Walimbe |
|
9747 |
|
Swati P Gune |
|
5575 |
|
Michael R Nazareth |
|
3408 |
|
Pradip R Karandikar |
|
7180 |
|
Sarla S Mehta |
|
1890 |
|
Prashant P Gune |
|
13538 |
|
Mariola D’ Sylva |
|
2000 |
|
Ryspah J Manek |
|
4137 |
|
Lorna D’Costa |
|
1839 |
|
Nachiket P Gune [Director] |
|
3500 |
|
Pamela D’Souza |
|
1839 |
|
Cheryl Mendes [Director] |
|
5404 |
|
|
|
|
|
Total |
|
81903 |
AS ON: 18.08.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
24.28 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
75.72 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Instrument Transformers such as Current Transformer,
Power Transformer, etc. [Registered Activity and also Confirmed by
Management] |
||||
|
|
|
||||
|
Products/ Services : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
· USA · Middle East Countries · African Countries |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
China |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C, Cheque and Credit [30 days] |
||||
|
|
|
||||
|
Purchasing : |
L/C, Cheque and Credit [30 days] |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
End Users and OEMs · Asea Brown Boveri · Siemens · Schneider Electric · Bharat Heavy Electricals Limited (BHEL) · Suzlon Developers Limited · Boving Fouress Limited ·
Areva T&D Limited, etc |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
300 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Small Industries Development Bank of India SIDBI Tower, 15, Ashok Marg,, Lucknow - 226001, Uttar Pradesh, India · Thane Bharat Sahakari Bank Limited ·
HDFC Bank Limited |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
V J Choksi and Company LLP Chartered Accountants |
|
Address : |
301, Jolly Bhavan, No. 2, New Marine Lines, 3rd Floor, Mumbai-400020,
Maharashtra, India |
|
PAN No.: |
AAAFV7653G |
|
|
|
|
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 |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 100/- each |
INR 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
81903 |
Equity Shares |
INR 100/- each |
INR 8.190
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 |
8.190 |
8.190 |
8.190 |
|
(b) Reserves & Surplus |
233.142 |
228.336 |
227.156 |
|
(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) |
241.332 |
236.526 |
235.346 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1.473 |
5.693 |
11.294 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.077 |
0.077 |
0.077 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
1.550 |
5.770 |
11.371 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
163.589 |
179.554 |
191.896 |
|
(b)
Trade payables |
170.115 |
133.840 |
127.245 |
|
(c)
Other current liabilities |
25.013 |
18.814 |
12.498 |
|
(d)
Short-term provisions |
12.782 |
11.789 |
8.077 |
|
Total
Current Liabilities (4) |
371.499 |
343.997 |
339.716 |
|
|
|
|
|
|
TOTAL |
614.381 |
586.293 |
586.433 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
73.840 |
77.927 |
80.619 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
3.806 |
0.606 |
0.608 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
92.216 |
83.085 |
64.052 |
|
(c) Deferred tax assets
(net) |
2.609 |
2.138 |
1.817 |
|
(d) Long-term Loan
and Advances |
4.431 |
3.956 |
3.296 |
|
(e)
Other Non-current assets |
8.988 |
7.934 |
6.555 |
|
Total
Non-Current Assets |
185.890 |
175.646 |
156.947 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
135.467 |
144.829 |
133.997 |
|
(c)
Trade receivables |
179.670 |
172.225 |
153.274 |
|
(d)
Cash and cash equivalents |
93.819 |
70.679 |
108.805 |
|
(e)
Short-term loans and advances |
19.266 |
22.651 |
33.049 |
|
(f)
Other current assets |
0.269 |
0.263 |
0.361 |
|
Total
Current Assets |
428.491 |
410.647 |
429.486 |
|
|
|
|
|
|
TOTAL |
614.381 |
586.293 |
586.433 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
810.796 |
658.347 |
555.347 |
|
|
|
Other Income |
19.818 |
16.247 |
13.929 |
|
|
|
TOTAL |
830.614 |
674.594 |
569.276 |
|
|
|
[Increase in
order] |
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
594.743 |
508.712 |
428.414 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
17.849 |
(30.348) |
(35.932) |
|
|
|
Employees benefits expense |
66.230 |
56.005 |
51.804 |
|
|
|
Other expenses |
105.578 |
92.990 |
81.335 |
|
|
|
TOTAL |
784.400 |
627.359 |
525.621 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
46.214 |
47.235 |
43.655 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
21.896 |
24.246 |
18.842 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
24.318 |
22.989 |
24.813 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
15.269 |
16.877 |
19.920 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
9.049 |
6.112 |
4.893 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.316 |
3.480 |
1.305 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
6.733 |
2.632 |
3.588 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
95.982 |
59.589 |
64.656 |
|
|
TOTAL EARNINGS |
95.982 |
59.589 |
64.656 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
CIF value of imports of raw materials |
5.078 |
2.084 |
2.138 |
|
|
TOTAL IMPORTS |
5.078 |
2.084 |
2.138 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
82.59 |
33.07 |
44.28 |
|
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 |
|
|
|
|
|
|
Gross cash flow from operating activities |
78.045 |
41.098 |
(61.299) |
|
|
|
|
|
|
Net cash from Operating Activities |
76.015 |
38.919 |
(62.423) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
80.88 |
95.48 |
100.74 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.51 |
3.82 |
3.62 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
104.40 |
96.03 |
108.41 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.34 |
0.33 |
0.33 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.60 |
0.60 |
0.54 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.61 |
0.60 |
0.60 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.68 |
0.78 |
0.86 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.54 |
1.45 |
1.44 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.32 |
0.33 |
0.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.11 |
1.95 |
2.32 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.83 |
0.40 |
0.65 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.10 |
0.45 |
0.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
2.79 |
1.11 |
1.52 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.15 |
1.19 |
1.26 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.79 |
0.77 |
0.87 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.39 |
0.40 |
0.40 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
20.15 |
22.62 |
24.81 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.15 |
1.19 |
1.26 |
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 |
8.190 |
8.190 |
8.190 |
|
Reserves & Surplus |
227.156 |
228.336 |
233.142 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
235.346 |
236.526 |
241.332 |
|
|
|
|
|
|
long-term borrowings |
11.294 |
5.693 |
1.473 |
|
Short term borrowings |
191.896 |
179.554 |
163.589 |
|
Total
borrowings |
203.190 |
185.247 |
165.062 |
|
Debt/Equity
ratio |
0.863 |
0.783 |
0.684 |
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 |
555.347 |
658.347 |
810.796 |
|
|
|
18.547 |
23.156 |
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 |
555.347 |
658.347 |
810.796 |
|
Profit/ (Loss) |
3.588 |
2.632 |
6.733 |
|
|
0.65% |
0.40% |
0.83% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
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% |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G73405326 |
100146400 |
THANE BHARAT SAHAKARI BANK LIMITED |
08/12/2017 |
- |
- |
14056000.0 |
RIMZIM PREMISES, VISHNU NAGAR,NAUPADA,THANETHANEMH400602IN |
|
2 |
G57460719 |
100128683 |
THANE BHARAT SAHAKARI BANK LIMITED |
10/10/2017 |
- |
- |
10500000.0 |
RIMZIM PREMISES, VISHNU NAGAR,NAUPADA,THANE (WEST)THANEMH400602IN |
|
3 |
G46695995 |
100105004 |
THANE BHARAT SAHAKARI BANK LIMITED |
14/02/2017 |
- |
- |
1000000.0 |
RIMZIM PREMISES, VISHNU NAGAR,NAUPADA,THANETHANEMH400602IN |
|
4 |
C59744425 |
10581940 |
HDFC BANK LIMITED |
09/05/2015 |
- |
- |
490000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
5 |
C51640027 |
10565386 |
THANE BHARAT SAHAKARI BANK LIMITED |
10/04/2015 |
- |
- |
40000000.0 |
RIMZIM PREMISES, 1st FLOOR, VISHNU NAGARBAJI PRABHU DESHPANDE MARG, NAUPADA,THANE (WEST)THANEMH400602IN |
|
6 |
C40960965 |
90231272 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
22/12/2005 |
13/01/2015 |
- |
43500000.0 |
1&2, Dhanalaxmi Residency, LBS Marg,Near Hotel Tip Top Plaza,THANEMH400602IN |
|
7 |
G09913336 |
90230401 |
United Bank of India |
13/11/1984 |
22/08/2016 |
- |
125000000.0 |
PUSKRAJ PRASAD BUILDING, BAJI PRABHU DESHPANDEROAD, VISHNUNAGAR, NAUPADA, THANE (W)THANEMH400602IN |
|
8 |
G72296783 |
10454656 |
Thane Bharat Sahakari Bank Limited |
01/10/2013 |
- |
27/12/2017 |
19200000.0 |
Rimzim premises, Vishnu Nagar,Naupada,ThaneMH400602IN |
|
9 |
G62389465 |
100028247 |
THANE BHARAT SAHAKARI BANK LIMITED |
27/04/2016 |
- |
14/11/2017 |
830000.0 |
RIMZIM PREMISES, VISHNU NAGAR,NAUPADA, THANE (WEST)THANEMH400602IN |
|
10 |
G48995807 |
90149992 |
UNITED BANK OF INDIA |
05/06/1979 |
- |
17/07/2017 |
482000.0 |
MAINAR THEATER BUILDINGTHANAMHIN |
GENERAL
INFORMATION
Subject Incorporated on May 06, 1975 is engaged in the manufacturing of instrument
transformers in India. The main products include manufacturer of all types of
instrument transformers form 0.66 KV upto 220 KV class.
REVIEW OF
BUSINESS OPERATIONS AND FUTURE PROSPECTS:
During the year 2016-17 the performance of the company was better than the previous year. The gross revenue for the year was INR 830.600 Million compared to INR 0.674 Million in the previous year showing increase of approx 23.13%.The net profit for the year at INR 9.049 Million compared to INR 6.121 Million in the previous year, increased by 48.05%.
Orders received during the year at INR 779.503 Million were increased by 12.03% compared to INR 695.829 Million received in the previous year.
Power sector is one of the most critical component of economic growth and one of the most diversified and dynamic. Therefore demand for electrical equipment shall increase substantially in coming years. But how much of this demand would be available to any company will depend upon various factors such as price, delivery and quality.
It is from this perspective the company is undertaking various steps including capacity addition, adopting new technologies, automation, skill development, extensive R&D activities etc. Emphasis is also being given to accurate budgeting, ambitions target setting and mid term to long term planning of the operations. We expect a bright future for the company in next five years.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
On Letters of Guarantee |
21.600 |
15.220 |
|
Custom Duty Liability which may arise if obligation for exports is not fulfilled against import of machinery under Zero Duty EPCG Scheme. |
0.615 |
0.615 |
|
Liabilities
disputed and not provided for |
|
|
|
Excise Matter |
0.036 |
0.036 |
|
The Maharashtra Value Added Tax |
0.000 |
8.594 |
|
The Central Sales Tax |
0.000 |
10.582 |
FIXED ASSETS:
Tangible Assets
· Factory Building
· Machinery
· Furniture and Fixture
· Vehicle
· Office Equipment
· Mould and Dies
· Electrical Installation
· Computer
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 63.89 |
|
UK Pound |
1 |
INR 88.60 |
|
Euro |
1 |
INR 78.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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.