|
|
|
MIRA INFORM REPORT
|
Report No. : |
487607 |
|
Report Date : |
24.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
GANGA ACROWOOLS LIMITED |
|
|
|
|
Registered
Office : |
249, Industrial Area-‘A’, Ludhiana – 141 003, Punjab |
|
Tel. No.: |
91-161-6608400/ 2223535/ 2222611/ 1628 - 660660 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
02.02.1994 |
|
|
|
|
Com. Reg. No.: |
16-014190 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 280.936 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17117PB1994PLC014190 |
|
|
|
|
IEC No.: |
3097010254 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDG01474E |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG8869Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in manufacturing of Acrylic and Blended yarn. (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 2700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Ganga Acrowools Limited (GAL), set up by Dr. Ravinder Verma in 1994,
manufacturers worsted acrylic yarn (grey and dyed) and other blended yarns.
It is an established company having fine track record. As per Registrar of Companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2017 but the documents related to the
financial for the year 2017 are not available from any sources. As per available financials of 2016, revenue of the company has marginally
decline. However, it has witnesses a significant growth in its profit and has
achieved good profit margin at 6.87% (approx.). The company possesses sound financial risk profile marked by decent
net worth base along with low debt level and favourable gap between trade
payables to its trade receivables. The company also derives strength from its long standing track record
of business operations. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitments. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
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 |
CRISIL |
|
Rating |
Long Term Rating = (A-) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
February 17, 2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = (A2+) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
February 17, 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 24.01.2018
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
MANAGEMENT NON-COOPERATIVE: Tel. No.:
91-161-6608400
LOCATIONS
|
Registered/ Corporate Office : |
249, Industrial Area-‘A’, |
|
Tel. No.: |
91-161-6608400/ 2223535/ 2222611/ 1628 - 660660 |
|
Mobile No.: |
91-9216218005 (Mr. Prashant) |
|
Fax No : |
91-161-2600973/ 6608444 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
Locality: |
Industrial |
|
|
|
|
|
546, Sector – ‘A’, |
|
|
|
|
Factory : |
G.T. Road, Village Kot Sekhon and Jaspalon, Tehsil Khanna, Ludhiana –
141 003, Punjab, India |
|
Tel. No.: |
91-1628-660660 |
|
Fax No : |
91-1628-660666 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Dr. Ravinder Verma |
||||||||||||
|
Designation : |
Managing Director |
||||||||||||
|
Address : |
60, Sant Nagar, Civil Lines, |
||||||||||||
|
Date of Birth/Age : |
09.11.1963 |
||||||||||||
|
Qualification : |
MBBS |
||||||||||||
|
Experience : |
30 years |
||||||||||||
|
Date of Appointment : |
26.07.2015 |
||||||||||||
|
PAN No.: |
AAMPV8454H |
||||||||||||
|
DIN No.: |
00517907 |
||||||||||||
|
Other Directorship:
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Ajay Kumar Sharma |
||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||
|
Address : |
H. No. 481/29, Guru Harkrishan Nagara, Malerkotla Road, Khanna –
141402, Punjab, India |
||||||||||||
|
Date of Birth/Age : |
11.08.1968 |
||||||||||||
|
Qualification : |
B.Com |
||||||||||||
|
Experience : |
22 years |
||||||||||||
|
Date of Appointment : |
12.03.2008 |
||||||||||||
|
DIN No.: |
01262459 |
||||||||||||
|
Other Directorship:
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Inderjit Singh Bhatia |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
B-lll, 246/1, Purana Bazar, Gal Vakilan, |
||||||||||||
|
Date of Birth/Age : |
24.10.1968 |
||||||||||||
|
Qualification : |
Chartered |
||||||||||||
|
Date of Appointment : |
30.09.2008 |
||||||||||||
|
PAN No.: |
ABXPB2722Q |
||||||||||||
|
DIN No.: |
01870344 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Dinesh Maheshwari |
||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||
|
Address : |
H. No. 107, GK Estate, |
||||||||||||
|
Date of Birth/Age : |
02.03.1967 |
||||||||||||
|
Qualification : |
Chartered Accountant |
||||||||||||
|
Experience : |
22 years |
||||||||||||
|
Date of Appointment : |
24.12.2009 |
||||||||||||
|
PAN No.: |
AGLPM8487G |
||||||||||||
|
DIN No.: |
02867380 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Barkha Thapar |
||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||
|
Address : |
House No. 753/2, Gurdev Nagar, Sarabha Nagar, Ludhiana –
141001, Punjab, India |
||||||||||||
|
Date of Appointment : |
27.05.2017 |
||||||||||||
|
DIN No.: |
05162080 |
||||||||||||
|
Other Directorship:
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Vijay Kumar Gupta |
||||||||||||
|
Designation : |
Additional director |
||||||||||||
|
Address : |
House No. 4152, Sector B, Pocket 5 and 6, Vasant Kunj, Vasant Vihar, South West Delhi, Delhi, 110070, India |
||||||||||||
|
Date of Birth/Age : |
24.04.1952 |
||||||||||||
|
Qualification : |
B.Sc, LL.B. |
||||||||||||
|
Date of Appointment : |
30.09.2015 |
||||||||||||
|
PAN No.: |
ADWPG9843N |
||||||||||||
|
DIN No.: |
07036814 |
||||||||||||
|
Other Directorship:
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Bal Krishan Bindal |
||||||||||||
|
Designation : |
Additional director |
||||||||||||
|
Address : |
House No. 27, Ranjit Nagar, Bhadson Road, Patiala - 147004, Punjab, India |
||||||||||||
|
Date of Birth/Age : |
19.08.1947 |
||||||||||||
|
Qualification : |
B.Sc. |
||||||||||||
|
Date of Appointment : |
30.09.2015 |
||||||||||||
|
PAN No.: |
ABXPB3248F |
||||||||||||
|
DIN No.: |
07036913 |
||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Rajiv Khanna |
|
Designation : |
Chief Financial Officer/ Secretary |
|
Address : |
369/12, Katra Parja Inside, Hathi Gate, Amritsar – 143006, Punjab, India |
|
Date of Birth/Age : |
14.12.1973 |
|
Date of Appointment : |
03.09.2014 |
|
PAN No.: |
AGRPK0522C |
|
|
|
|
Name : |
Mr. Sumit Jain |
|
Designation : |
Secretary |
|
Address : |
Flat No. 187, Vijay Inder Nagar, Daba Road, Sherpur, Ludhiana - 141003, Punjab, India |
|
Date of Appointment : |
05.08.2015 |
|
PAN No.: |
AEYPJ6742G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
10.22 |
|
Promoter - Bodies
corporate |
72.66 |
|
Public – (Individual/ Hindu Undivided
Family – Indian) |
7.05 |
|
Public – (Individual/ Hindu
Undivided Family – Non-resident Indian (NRI) |
1.09 |
|
Public – (Government – State
Government) |
2.92 |
|
Public - Bodies corporate |
6.06 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in manufacturing of Acrylic and Blended yarn. (Registered activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Davinder Rekhi and Company Chartered Accountants |
|
Address : |
Office No. 4, Ist Floor, Carnival Shopping Centre, The Mall, Ludhiana-141003, Punjab, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFD3965D |
|
|
|
|
Secretarial Audit
Report : |
|
|
Name : |
Nesar and Associates |
|
PAN No.: |
AAGPA4992H |
|
Membership number: |
3360 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Others : |
U17117PB1990PLC010479
|
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30500000 |
Equity Shares |
INR 10/- each |
INR 305.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28093650 |
Equity Shares |
INR 10/- each |
INR 280.936
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 |
280.936 |
280.936 |
272.076 |
|
(b) Reserves & Surplus |
668.584 |
479.928 |
441.319 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.300 |
|
Total
Shareholders’ Funds (1) + (2) |
949.520 |
760.864 |
713.695 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
337.173 |
530.529 |
590.298 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
20.404 |
7.987 |
6.098 |
|
Total
Non-current Liabilities (3) |
357.577 |
538.516 |
596.396 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
379.040 |
484.657 |
496.750 |
|
(b) Trade payables |
99.391 |
66.170 |
142.244 |
|
(c) Other current liabilities |
152.200 |
140.596 |
177.713 |
|
(d) Short-term provisions |
57.193 |
41.014 |
43.929 |
|
Total
Current Liabilities (4) |
687.824 |
732.437 |
860.636 |
|
|
|
|
|
|
TOTAL |
1994.921 |
2031.817 |
2170.727 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1016.712 |
1075.639 |
1121.983 |
|
(ii) Intangible Assets |
1.603 |
2.204 |
2.302 |
|
(iii) Capital work-in-progress |
21.426 |
1.213 |
12.679 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
35.035 |
21.326 |
34.430 |
|
(e) Other Non-current assets |
0.000 |
0.176 |
0.365 |
|
Total
Non-Current Assets |
1074.776 |
1100.558 |
1171.759 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
459.639 |
385.674 |
464.182 |
|
(c) Trade receivables |
174.041 |
293.319 |
329.165 |
|
(d) Cash and cash equivalents |
7.277 |
11.221 |
15.217 |
|
(e) Short-term loans and
advances |
14.487 |
20.154 |
39.218 |
|
(f) Other current assets |
264.701 |
220.891 |
151.186 |
|
Total
Current Assets |
920.145 |
931.259 |
998.968 |
|
|
|
|
|
|
TOTAL |
1994.921 |
2031.817 |
2170.727 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
2857.004 |
2862.828 |
2776.295 |
|
|
Other Income |
16.906 |
36.116 |
4.776 |
|
|
TOTAL
|
2873.910 |
2898.944 |
2781.071 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1453.353 |
1553.864 |
1432.400 |
|
|
Purchases of Stock-in-Trade |
10.872 |
17.626 |
187.304 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
-42.961 |
50.879 |
-61.648 |
|
|
Employees benefits expense |
293.269 |
255.266 |
215.213 |
|
|
CSR expenditure |
1.123 |
0.506 |
0.000 |
|
|
Other expenses |
647.809 |
612.195 |
591.787 |
|
|
TOTAL |
2363.465 |
2490.336 |
2365.056 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
510.445 |
408.608 |
416.015 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
111.354 |
165.598 |
152.541 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
399.091 |
243.010 |
263.474 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
106.717 |
175.110 |
81.220 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
292.374 |
67.900 |
182.254 |
|
|
|
|
|
|
|
Less |
TAX |
96.008 |
38.674 |
42.482 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
196.366 |
29.226 |
139.772 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1237.367 |
1267.685 |
1132.917 |
|
|
TOTAL
EARNINGS |
1237.367 |
1267.685 |
1132.917 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
235.403 |
0.000 |
NA |
|
|
Components and Stores parts |
62.645 |
0.000 |
NA |
|
|
Capital Goods |
32.418 |
0.000 |
NA |
|
|
TOTAL
IMPORTS |
330.466 |
0.000 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
6.99 |
1.04 |
5.14 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
53.535 |
99.304 |
133.618 |
|
Net cash flows from (used in) operations |
307.990 |
233.326 |
340.270 |
|
Net cash flows from (used in) operating activities |
307.990 |
233.326 |
220.779 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
22.23 |
37.40 |
43.28 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
16.42 |
9.76 |
8.43 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
24.78 |
15.37 |
32.05 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.11 |
1.06 |
0.90 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.49 |
0.38 |
0.37 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.54 |
0.67 |
0.73 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.81 |
1.46 |
1.71 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.72 |
0.96 |
1.21 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.10 |
1.42 |
1.59 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.58 |
2.47 |
2.73 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
6.87 |
1.02 |
5.03 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
9.84 |
1.44 |
6.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
20.68 |
3.84 |
19.58 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.34 |
1.27 |
1.16 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.67 |
0.74 |
0.62 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.48 |
0.37 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.74 |
3.97 |
4.49 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.34 |
1.27 |
1.16 |
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 |
272.076 |
280.936 |
280.936 |
|
Reserves & Surplus |
441.319 |
479.928 |
668.584 |
|
Share Application money pending allotment |
0.300 |
0.000 |
0.000 |
|
Net
worth |
713.695 |
760.864 |
949.520 |
|
|
|
|
|
|
Long Term borrowings |
590.298 |
530.529 |
337.173 |
|
Short Term borrowings |
496.750 |
484.657 |
379.040 |
|
Current Maturities of Long term debt |
133.618 |
99.304 |
53.535 |
|
Total
borrowings |
1220.666 |
1114.490 |
769.748 |
|
Debt/Equity
ratio |
1.710 |
1.465 |
0.811 |
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
|
2776.295 |
2862.828 |
2857.004 |
|
|
|
3.117 |
-0.203 |
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
|
2776.295 |
2862.828 |
2857.004 |
|
Profit |
139.772 |
29.226 |
196.366 |
|
|
5.03% |
1.02% |
6.87% |
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 |
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 public company incorporated under the provisions of the Companies Act, 2013 on 2nd February 1994. The company is engaged in manufacturing of Acrylic and Blended yarn.
PERFORMANCE OF THE
COMPANY
The financial year 2015-16 was a volatile year due to input costs falling as a result of fall in crude oil prices. As a consequence, total sales of the company have been slightly less than last year even while the sale volumes are higher at 7851Mts as against 7535 Mts.
The total revenues of the Company during 2015-16 is slightly decreased to INR 2873.900 Million as compared to INR 2898.900 Million in the previous year. The export sale of the Company during 2015-16 has been INR 1237.400 Million as compared to INR 1267.700 Million in previous year, which constitutes 43.05% of total revenue of the Company.
The Profit of the Company for 2015-16 has been INR 196.400 Million as compared to INR 29.200 Million in previous year because of higher value additions, coupled with a reduction in costs.
FUTURE PLANS
In continuation of the strategy of moving further up in the value chain and to improve operating efficiencies, GAL has undertaking a project in current financial year entailing:
- Modernization, debottlenecking and balancing of existing setup
- Adding Fancy Yarn manufacturing Capacity
- Building to house facilities as in-above
- Land for ETP effluent plantation
STATE OF COMPANYS
AFFAIRS
During the period, the company has selected such accounting policies and applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that period
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Other loans and advances |
0.000 |
3.228 |
|
Total |
0.000 |
3.228 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G54301023 |
100125057 |
11/08/2017 |
- |
- |
300000000.0 |
TRISHUL, 3rd FLOOR, OPPOSITE SAMARTHESHWAR TEMPLELAW GARDEN, ELLIS BRIDGEAHMEDABADGJ380006IN |
|
|
2 |
G53963518 |
100124284 |
05/08/2017 |
- |
- |
380000000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PARELMUMBAIMH400013IN |
|
|
3 |
G53074498 |
100122295 |
28/07/2017 |
- |
- |
1226000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
|
4 |
G51991909 |
100120201 |
19/06/2017 |
- |
- |
3141100.0 |
BXX/2427/928,GOBIND NAGAR,MAIN FEROZEPUR ROADLudhianaPB141001IN |
|
|
5 |
G45646684 |
100102210 |
29/04/2017 |
- |
- |
820000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WESTMUMBAIMH400013IN |
|
|
6 |
G39221981 |
100085838 |
09/03/2017 |
- |
- |
850000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL- WMUMBAIMH400013IN |
|
|
7 |
G43670850 |
100097106 |
23/01/2017 |
- |
- |
110000000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PARELMUMBAIMH400013IN |
|
|
8 |
G15379142 |
100054555 |
19/09/2016 |
- |
- |
790000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL - WMUMBAIMH400013IN |
|
|
9 |
G14702336 |
100053995 |
15/09/2016 |
- |
- |
686000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL - WMUMBAIMH400013IN |
|
|
10 |
G15380777 |
100054558 |
15/09/2016 |
- |
- |
740000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL - WMUMBAIMH400013IN |
FIXED ASSETS
- Land
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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 : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
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.