|
|
|
MIRA INFORM REPORT
|
Report No. : |
487798 |
|
Report Date : |
24.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
JAI PARVATI FORGE LIMITED |
|
|
|
|
Registered
Office: |
SCF 286, Motor Market, Manimajra-160101, Chandigarh |
|
Tel. No.: |
91-1762-285100 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
23.01.2004 |
|
|
|
|
Com. Reg. No.: |
53-026751 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 49.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910CH2004PLC026751 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GST No: |
04AABCJ3788Q1ZY |
|
|
|
|
TIN No: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ3788Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Forged and Machined Components and Auto Components. (Registered Activity and also Confirmed by Management) |
|
|
|
|
No. of Employees
: |
400 (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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was incorporated in the year 2004 having satisfactory track record. It is engaged as manufacturer of forged and machined components and auto components. As per the available financials of March 2017, the company has achieved decent growth in its revenue as compared to its previous year along with fair profit margin during the year. Rating takes into consideration, the satisfactory financial risk profile marked by comfortable net worth base and healthy cash accruals. Rating continue to derive strength from its established track record of its business operation backed by extensive experience of the promoters in the forged components industry. However, these rating strengths gets partially offset by susceptibility to cyclicality in the end-user commercial vehicle and tractor industries, and working capital-intensive operations. 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 |
CRISIL |
|
Rating |
Long Term Rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
30.12.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating =A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
30.12.2017 |
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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Vijay Sharma |
|
Designation : |
Vice President |
|
Contact No.: |
91-9216363603 |
|
Date : |
22.01.2018 |
LOCATIONS
|
Registered Office : |
SCF 286, Motor Market, Manimajra-160101, Chandigarh, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9216363603 (Mr. Vijay Sharma) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory/ Admin Office : |
Village Bhagwanpur, Barwala Road, Near Der Spinners, Derabassi,
Mohalli – 134112, Punjab, India |
|
Tel. No.: |
91-1762-285100 / 285101 / 285221 |
|
Fax No.: |
91-1762-285100 |
|
|
|
|
Mailing Address: |
72, Sector 4, Panchkula, Haryana, India |
|
Tel. No.: |
91-172-2584821 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sahebder Singh Chauhan |
||||||||
|
Designation : |
Managing Director |
||||||||
|
Address : |
H. No -72 Sector-4, Panchkula - 134109, Haryana, India |
||||||||
|
Date of Birth/Age : |
01.07.1965 |
||||||||
|
Qualification: |
High School |
||||||||
|
Date of Appointment : |
23.01.2004 |
||||||||
|
PAN No.: |
AANPC9194J |
||||||||
|
DIN No.: |
01723352 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mrs. Suman Chauhan |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
House No. 42 Sector 12-A Panchkula - 134112, Haryana, India |
||||||||
|
Date of Birth/Age : |
20.03.1969 |
||||||||
|
Qualification: |
High School |
||||||||
|
Date of Appointment : |
23.01.2004 |
||||||||
|
PAN No: |
ACBPC6792Q |
||||||||
|
DIN No.: |
01611441 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Vineet Chauhan |
||||||||
|
Designation : |
Whole-time Director |
||||||||
|
Address : |
House No. 42 Sector 12-A Panchkula - 134112, Haryana, India |
||||||||
|
Date of Birth/Age : |
08.09.1985 |
||||||||
|
Qualification: |
Post Graduate |
||||||||
|
Date of Appointment : |
16.03.2007 |
||||||||
|
PAN No.: |
AFQPC8139P |
||||||||
|
DIN No.: |
01635995 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Varinder Kanda |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
# 202, Radha Krishan Nagar Pinjore, teh- Kalka, Distt Panchkula-134102, Haryana, India |
||||||||
|
Date of Birth/Age : |
22.06.1968 |
||||||||
|
Qualification: |
Graduate |
||||||||
|
Date of Appointment : |
22.03.2017 |
||||||||
|
DIN No.: |
06694391 |
||||||||
|
Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Narender Singh |
||||||||
|
Designation : |
Wholetime Director |
||||||||
|
Address : |
H. No. 65, Shyam Colony, Ballabgarh, Tehsil-Ballabgarh,
District- Faridabad-121004, Haryana, India |
||||||||
|
Date of Appointment : |
10.05.2017 |
||||||||
|
DIN No.: |
07813663 |
||||||||
KEY EXECUTIVES
|
Name : |
Mr. Vijay Sharma |
|
Designation : |
Vice President |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
S. S. Chauhan |
|
2410820 |
|
Suman Chauhan |
|
1551380 |
|
Amit Kumar |
|
13000 |
|
Anuditya Kadiyan |
|
20000 |
|
Bina Devi |
|
16000 |
|
Jaivir Singh |
|
80000 |
|
Murti Devi |
|
24000 |
|
Om Pal Singh |
|
30000 |
|
Parvendra Singh |
|
70000 |
|
Raghubir Singh |
|
80000 |
|
Ran Singh |
|
30000 |
|
Ranbeer Singh |
|
9000 |
|
Subey Singh |
|
265000 |
|
Shyam Singh |
|
100000 |
|
Vineet Chauhan |
|
110800 |
|
Dharmender Singh |
|
30000 |
|
Harendra Singh |
|
60000 |
|
|
|
|
|
Total |
|
4900000 |
AS ON 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
83.12 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
16.88 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Forged and Machined Components and Auto Components. (Registered Activity and also Confirmed by Management) |
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Products/ Services : |
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Brand Names : |
Not Available |
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|
||||
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Agencies Held : |
Not Available |
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Exports : |
|
||||
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Products : |
Not Available |
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Countries : |
Not Available |
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||||
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Imports : |
|
||||
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Products : |
Not Available |
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Countries : |
Not Available |
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|
||||
|
Terms : |
|
||||
|
Selling : |
Advance Payment, L/C, Cheque and Credit [30 days] |
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|
|
|
||||
|
Purchasing : |
Advance Payment, L/C, Cheque and Credit [30 days] |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
·
Dana Spicer ·
Indian Railway ·
Defence India ·
Ashok Leyland ·
Mahindra ad
Mahindra ·
Mahindra Sar
Transmissions ·
New Holland
Tractors ·
New Allenberry
Works ·
Carraro ·
Graziano
Transmissioni SPA ·
Bharat Gears
Limited ·
Swaraj
Enterprises ·
Gajra Gears
Group ·
Mahindra
Gujarat Tractors ·
International
Tractors Limited ·
Eicher |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
400 (Approximately) |
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|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Canara Bank Mid Corporate Branch, Plot No. 1, Sector 34A, Chandigarh - 160034, Chandigarh, India · HDFC Bank Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institutions : |
·
Tata Capital Financial Services Limited One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai-400001, Maharashtra, India · Hero Fincorp Limited 34, Community Centre, Basant Lokvasant Vihar, New Delhi-110057, India |
|
|
|
|
Auditors : |
|
|
Name : |
Ravinder K. Sharma and Company Chartered Accountants |
|
Address : |
NH 21-A, Neelam Hotel Complex,
Baddi, Solan-173205, Himachal Pradesh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFR7023M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associate Company : |
D S Engineer |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4900000 |
Equity Shares |
INR 10/- each |
INR 49.000
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 |
49.000 |
49.000 |
49.000 |
|
(b) Reserves and Surplus |
247.732 |
229.607 |
221.643 |
|
(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) |
296.732 |
278.607 |
270.643 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
149.918 |
146.322 |
152.261 |
|
(b) Deferred tax liabilities (Net) |
46.316 |
39.923 |
26.005 |
|
(c) Other long-term
liabilities |
4.363 |
3.343 |
2.496 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
200.597 |
189.588 |
180.762 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
193.846 |
185.285 |
170.656 |
|
(b) Trade payables |
150.314 |
126.648 |
135.343 |
|
(c) Other
current liabilities |
66.251 |
54.378 |
38.898 |
|
(d) Short-term
provisions |
6.279 |
4.523 |
7.655 |
|
Total Current
Liabilities (4) |
416.690 |
370.834 |
352.552 |
|
|
|
|
|
|
TOTAL |
914.019 |
839.029 |
803.957 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
451.341 |
421.074 |
401.695 |
|
(ii)
Intangible Assets |
0.027 |
0.040 |
0.062 |
|
(iii) Tangible assets capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.700 |
0.100 |
0.700 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
8.322 |
12.666 |
9.608 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
460.390 |
433.880 |
412.065 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
271.971 |
250.414 |
243.192 |
|
(c) Trade
receivables |
150.719 |
123.415 |
130.791 |
|
(d) Cash and
bank balances |
1.421 |
2.262 |
1.791 |
|
(e)
Short-term loans and advances |
29.518 |
29.058 |
16.118 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
453.629 |
405.149 |
391.892 |
|
|
|
|
|
|
TOTAL |
914.019 |
839.029 |
803.957 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
969.717 |
799.122 |
873.479 |
|
|
Other Income |
6.413 |
3.496 |
2.517 |
|
|
TOTAL |
976.130 |
802.618 |
875.996 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
551.100 |
452.449 |
547.124 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(18.806) |
(5.900) |
(49.321) |
|
|
Employee benefit expense |
92.811 |
64.292 |
54.523 |
|
|
Other expenses |
227.549 |
182.488 |
208.861 |
|
|
TOTAL |
852.654 |
693.329 |
761.187 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
123.476 |
109.289 |
114.809 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
57.083 |
57.353 |
50.973 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
66.393 |
51.936 |
63.836 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
35.458 |
31.582 |
33.582 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
30.935 |
20.354 |
30.254 |
|
|
|
|
|
|
|
Less |
TAX |
12.811 |
9.842 |
10.707 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
18.124 |
10.512 |
19.547 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
0.000 |
4.541 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
4.541 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.70 |
2.15 |
3.99 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term Borrowings |
49.485 |
40.886 |
27.083 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
105.597 |
94.589 |
118.758 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
43.282 |
27.294 |
57.317 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
56.73 |
56.37 |
54.65 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.43 |
6.48 |
6.68 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
99.55 |
102.17 |
90.29 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.45 |
0.44 |
0.47 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.27 |
0.26 |
0.29 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.67 |
0.67 |
0.66 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.33 |
1.34 |
1.29 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.40 |
1.33 |
1.30 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.52 |
1.51 |
1.48 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.16 |
1.91 |
2.25 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.87 |
1.32 |
2.24 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.98 |
1.25 |
2.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
6.11 |
3.77 |
7.22 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.09 |
1.09 |
1.11 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.44 |
0.42 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.32 |
0.33 |
0.34 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
8.03 |
7.60 |
7.14 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.09 |
1.09 |
1.11 |
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 |
49.000 |
49.000 |
49.000 |
|
Reserves & Surplus |
221.643 |
229.607 |
247.732 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
270.643 |
278.607 |
296.732 |
|
|
|
|
|
|
long-term borrowings |
152.261 |
146.322 |
149.918 |
|
Short term borrowings |
170.656 |
185.285 |
193.846 |
|
Current Maturities of Long
term debt |
27.083 |
40.886 |
49.485 |
|
Total
borrowings |
350.000 |
372.493 |
393.249 |
|
Debt/Equity
ratio |
1.293 |
1.337 |
1.325 |
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 |
873.479 |
799.122 |
969.717 |
|
|
|
-8.513 |
21.348 |
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 |
873.479 |
799.122 |
969.717 |
|
Profit |
19.547 |
10.512 |
18.124 |
|
|
2.24% |
1.32% |
1.87% |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
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% |
-- |
|
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 |
G46402293 |
100107968 |
HERO FINCORP LIMITED |
05/12/2016 |
- |
- |
40000000.0 |
34, COMMUNITY CENTRE, BASANT LOKVASANT VIHARNEW DELHIDe110057IN |
|
2 |
G46620274 |
100053215 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
19/07/2016 |
25/03/2017 |
- |
80000000.0 |
One Forbes,Dr. V. B. Gandhi Marg, FortMumbaiMH400001IN |
|
3 |
B79284857 |
10436075 |
CANARA BANK |
16/05/2013 |
- |
- |
20000000.0 |
SCO 255-256SECTOR 44-CCHANDIGARHCH160047IN |
|
4 |
G73081952 |
10321710 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
19/10/2011 |
04/09/2017 |
- |
125873445.0 |
One Forbes,Dr. V. B. Gandhi Marg, Fort,MumbaiMH400001IN |
|
5 |
A77015253 |
10195229 |
TATA CAPITAL LIMITED |
17/12/2009 |
- |
- |
5000000.0 |
ONE FORBESDR V B GANDHI MARG,FORTMUMBAIMH400001IN |
|
6 |
A71307961 |
10180221 |
CANARA BANK |
10/10/2009 |
- |
- |
334000.0 |
SECTOR 44CCHANDIGARHCH160047IN |
|
7 |
C59103739 |
80009941 |
Canara Bank |
15/07/2004 |
19/05/2015 |
- |
409500000.0 |
Mid Corporate BranchPlot No. 1, Sector 34AChandigarhCH160034IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
42.000 |
42.000 |
|
|
|
|
|
Total |
42.000 |
42.000 |
REVIEW OF BUSINESS ACTIVITIES
The company is engaged into the business of manufacturing forged & machined components on the basis of drawings provided by the buyer. During the financial year 2016-17, the company earned revenue of INR 976.130 Million, which is 21.62%more than the revenue of the company in the last financial year. Further, during the year, the company earned a net profit of INR 18.124 Million.
Company is consistently taking initiatives in the areas of product quality improvement, cost reduction in major areas i.e. raw material &energy consumption and optimum utilization of equipments so as to improve overall operational efficiency. The management is fully dedicated towards the growth and development of the company and is making continuous efforts to further increase the revenue and profit margins of the company.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
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, 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 63.77 |
|
UK Pound |
1 |
INR 89.20 |
|
Euro |
1 |
INR 78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
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 |
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.