|
|
|
MIRA INFORM REPORT
|
Report No. : |
487864 |
|
Report Date : |
24.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
MAHINDRA STEEL SERVICE CENTRE LIMITED |
|
|
|
|
Registered
Office : |
Mahindra Towers, P.K. Kurne Chowk, Worli, Mumbai – 400018,
Maharashtra |
|
Tel. No.: |
91-22-24935185 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
15.01.1993 |
|
|
|
|
Com. Reg. No.: |
11-070416 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 165.398 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1993PLC070416 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN/UIN: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM4987H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Processing of hot-rolled and cold-rolled products of steel. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information denied 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 : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between Mahindra Intertrade Limited and Metal One Corporation of Japan. It is a well-established company having a fine track record. The rating reflected company’s strong financial profile marked by low gearing, healthy debt protection metrics and the company’s status as a part of the Mahindra and Mahindra group, with strong operational and management linkages with Mahindra Intertrade Limited. The company has witnessed increasing demand for electrical segment over the last two years, which has been the major revenue driver. The rating is constrained due to company’s exposure to cyclicality inherent in the steel and automobile industry, which is likely to keep its cash flows volatile. Trade relations are fair. Business is active. Payments are reported to be usually correct. In view of aforesaid, the company can be considered good for normal business dealing at usual trade terms and conditions. NOTE: As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
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 |
ICRA |
|
Rating |
Long term loans: AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
07.07.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term loans: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest
credit risk. |
|
Date |
07.07.2017 |
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 (91-22-24935185)
LOCATIONS
|
Registered Office / Head Office : |
Mahindra Towers, P.K. Kurne Chowk, Worli, Mumbai – 400018,
Maharashtra, India |
|
Tel. No.: |
91-22-24935185/5186 |
|
Fax No.: |
91-22-24951236 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Pune (Plant I and II) : |
At and Post Kanhe, Taluka Vadgaon, Maval, District Pune – 412 106,
Maharashtra, India |
|
Tel. No.: |
91-2114-255348/ 255368 |
|
Fax No.: |
91-2114-255433 |
|
E-Mail : |
|
|
|
|
|
Bhopal (Plant III) : |
C-10 and 11, Industrial Area, Mandideep Phase-II, District: Raisen – 462 046, Madhya Pradesh, India |
|
Tel. No.: |
91-7480-281000 |
|
E-Mail : |
|
|
|
|
|
Regional Office : |
Located at : ·
Delhi ·
Chennai |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Sumit Issar |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
1B.43 Kalpataru Gardens, Off Akurli Road, Ashok Nagar, Kandivali East, Mumbai - 400101, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06951249 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Padmanabh Ramchandra Barpande |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Saubhagya Society, Block 51, 5th Floor, A - Wing, Jeevan Vikas Kendra Marg,
Andheri (East), Mumbai – 400069, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.03.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00016214 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ajaykumar Natvarbhai Mehta |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
104, Vijay Cooperative Housing Society Limited, S. V. Road, Poisar,
Borivali (West), Mumbai - 400092, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.03.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07102804 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Vijay Harbanslal Arora |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
C-404, Lincoln - II, Mahindra Royale, Pimpri Nehrunagar Road, Pimpri,
Pune - 411018, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
24.06.2016 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07347126 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Rajeev Bidyanand Dubey |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Nominee Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
1701, Mahindra Heights, 96 Tardeo Road, Mumbai - 400034, Maharashtra,
India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.04.1954 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.11.2006 |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00104817 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Shimpei Asada |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
B-1/6, Second Floor, Vasant Vihar, New Delhi - 110057,
India |
||||||||||||
|
Date of Appointment : |
23.06.2017 |
||||||||||||
|
DIN No.: |
07800080 |
||||||||||||
|
Other Directorship:
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Toyokazu Makino |
||||||||||||
|
Designation : |
Additional Director |
||||||||||||
|
Address : |
Flat No. 3202 Lodha Bellissimo, A Wing, 32nd Floor, Apollo
Mills Compound, N M Joshi Marg, Mumbai - 400011, Maharashtra, India |
||||||||||||
|
Date of Appointment : |
04.08.2017 |
||||||||||||
|
DIN No.: |
06626817 |
||||||||||||
KEY EXECUTIVES
|
Name : |
Jitendra Tukaram Rahate |
|
Designation : |
Chief Finance Officer |
|
Address : |
502, Kulaswamini Cooperative Housing Society Limited, Chunabhatti, Mumbai - 400022, Maharashtra, India |
|
Date of Appointment : |
23.04.2014 |
|
PAN No: |
AGWPR2555F |
|
|
|
|
Name : |
Mr. Bakul Pranjivandas Sheth |
|
Designation : |
Company Secretary |
|
Address : |
B-104, Aum Darshan Apartments, Shankar Lane, Kandivali (West), Mumbai
– 400 067, Maharashtra, India |
|
Date of Birth/Age : |
17.09.1954 |
|
Date of Appointment : |
23.04.1999 |
|
PAN No.: |
AALPS0967M |
|
Election Card No.: |
MT/09/44/0987381 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Mahindra Intertrade Limited, India |
|
10089250 |
|
Mahindra Intertrade Limited jointly with Mr. Zhooben Bhiwandiwala |
|
1 |
|
Mahindra Intertrade Limited jointly with Mr. K. Chandrasekhar |
|
1 |
|
Mahindra Intertrade Limited jointly with Mr. Rajeev Dubey |
|
1 |
|
Mahindra Intertrade Limited jointly with Mr. Bakul P. Sheth |
|
1 |
|
Mahindra Intertrade Limited jointly with Mr. Sumit Issar |
|
1 |
|
Mahindra Intertrade Limited jointly Mr. Percy Mahernosh |
|
1 |
|
Mahindra Intertrade Limited jointly Mr. Vijay Arora |
|
1 |
|
Metal One Corporation, Japan |
|
6450502 |
|
|
|
|
|
Total |
|
16539759 |
Equity Share Break up (Percentage of Total Equity)
AS ON 23.06.2017
|
Category |
Percentage |
|
Promoters- Body corporate (not mentioned above) |
61.00 |
|
Public/Other than promoters- Body corporate (not mentioned above) |
39.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Processing of hot-rolled and cold-rolled products of steel. [Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th – 32nd Floor, Indiabulls Finance Centre, Elphinstone Mill Compound, Senapati Bapat Marg, Elphinstone (West), Mumbai – 400 013, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD7919A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company (AS
ON 31.03.2016): |
|
|
|
|
|
Ultimate Holding
company (AS ON 31.03.2016): |
|
|
|
|
|
Fellow Subsidiary Company (AS ON
31.03.2016): |
|
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management
personnel and their relatives (AS ON 31.03.2016): |
|
CAPITAL STRUCTURE
AS ON 23.06.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17000000 |
Equity Shares |
INR 10/- each |
INR 170.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16539759 |
Equity Shares |
INR 10/- each |
INR 165.398 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
165.398 |
165.398 |
165.398 |
|
(b) Reserves and Surplus |
808.899 |
767.934 |
715.335 |
|
(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) |
974.297 |
933.332 |
880.733 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
70.115 |
129.117 |
241.151 |
|
(b) Deferred tax liabilities (Net) |
99.852 |
106.217 |
93.349 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
10.394 |
7.236 |
6.177 |
|
Total Non-current
Liabilities (3) |
180.361 |
242.570 |
340.677 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
236.972 |
35.632 |
0.000 |
|
(b) Trade
payables |
658.003 |
726.328 |
412.134 |
|
(c) Other current
liabilities |
89.404 |
136.961 |
241.165 |
|
(d) Short-term
provisions |
18.042 |
21.974 |
12.962 |
|
Total Current
Liabilities (4) |
1002.421 |
920.895 |
666.261 |
|
|
|
|
|
|
TOTAL |
2157.079 |
2096.797 |
1887.671 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
847.644 |
933.537 |
979.219 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
28.714 |
15.685 |
14.214 |
|
(e) Other Non-current
assets |
64.653 |
60.173 |
0.000 |
|
Total Non-Current
Assets |
941.011 |
1009.395 |
993.433 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
661.543 |
499.101 |
278.062 |
|
(c) Trade
receivables |
349.888 |
352.046 |
294.942 |
|
(d) Cash and
bank balances |
44.614 |
7.181 |
76.927 |
|
(e)
Short-term loans and advances |
137.699 |
217.083 |
244.265 |
|
(f) Other
current assets |
22.324 |
11.991 |
0.042 |
|
Total
Current Assets |
1216.068 |
1087.402 |
894.238 |
|
|
|
|
|
|
TOTAL |
2157.079 |
2096.797 |
1887.671 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
1948.504 |
1506.938 |
1219.337 |
|
|
Other Income |
0.802 |
3.705 |
4.437 |
|
|
TOTAL
|
1949.306 |
1510.643 |
1223.774 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1484.796 |
1061.034 |
836.613 |
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
11.523 |
(22.646) |
16.933 |
|
|
Employee benefit expense |
88.124 |
71.301 |
63.021 |
|
|
CSR expenditure |
1.553 |
1.180 |
0.000 |
|
|
Other expenses |
130.714 |
118.996 |
111.800 |
|
|
TOTAL
|
1716.710 |
1229.865 |
1028.367 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
232.596 |
280.778 |
195.407 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
54.088 |
48.485 |
46.502 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
178.508 |
232.293 |
148.905 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
97.273 |
97.272 |
77.055 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
81.235 |
135.021 |
71.850 |
|
|
|
|
|
|
|
Less |
TAX |
26.335 |
59.645 |
17.536 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
54.900 |
75.376 |
54.314 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
348.375 |
295.776 |
252.105 |
|
|
|
|
|
|
|
|
Depreciation
on transition to Schedule II of the Companies Act, 2013 |
0.000 |
(2.870) |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed dividend |
11.578 |
16.540 |
9.097 |
|
|
Income-tax on proposed
dividend |
2.357 |
3.367 |
1.546 |
|
|
Balance
Carried to the B/S |
389.340 |
348.375 |
295.776 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2.550 |
0.258 |
0.275 |
|
|
Earnings on other income |
0.000 |
0.000 |
0.124 |
|
|
TOTAL
EARNINGS |
2.550 |
0.258 |
0.399 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1028.858 |
692.834 |
518.978 |
|
|
Components and Stores parts |
0.370 |
2.790 |
9.728 |
|
|
Capital Goods |
0.000 |
39.765 |
0.000 |
|
|
TOTAL
IMPORTS |
1029.228 |
735.389 |
528.706 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
3.32 |
4.56 |
3.87 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
59.002 |
112.209 |
225.046 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
42.596 |
250.416 |
170.101 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
11.297 |
220.220 |
155.331 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
65.54 |
85.27 |
88.29 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.57 |
4.28 |
4.13 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
160.51 |
255.31 |
176.24 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.35 |
0.56 |
0.70 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.27 |
0.30 |
0.20 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.52 |
0.55 |
0.60 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.38 |
0.30 |
0.53 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.03 |
0.99 |
0.76 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.87 |
1.00 |
1.11 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.30 |
5.79 |
4.20 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.82 |
5.00 |
4.45 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.55 |
3.59 |
2.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.63 |
8.08 |
6.17 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.21 |
1.18 |
1.34 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.55 |
0.64 |
0.92 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.45 |
0.45 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.21 |
1.67 |
2.82 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.21 |
1.18 |
1.34 |
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 |
165.398 |
165.398 |
165.398 |
|
Reserves & Surplus |
715.335 |
767.934 |
808.899 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
880.733 |
933.332 |
974.297 |
|
|
|
|
|
|
Long Term borrowings |
241.151 |
129.117 |
70.115 |
|
Short Term borrowings |
0.000 |
35.632 |
236.972 |
|
Current Maturities of Long term debt |
225.046 |
112.209 |
59.002 |
|
Total
borrowings |
466.197 |
276.958 |
366.089 |
|
Debt/Equity
ratio |
0.529 |
0.297 |
0.376 |
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
|
1219.337 |
1506.938 |
1948.504 |
|
|
|
23.587 |
29.302 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
1219.337 |
1506.938 |
1948.504 |
|
Profit |
54.314 |
75.376 |
54.900 |
|
|
4.45% |
5.00% |
2.82% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from Mahindra Tower, World Road No. 13, Worli, Mumbai - 400018, Maharashtra, India, India to the present address w.e.f. 24.10.2007
UNSECURED LOANS:
|
PARTICULARS |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Deferred payment liabilities |
9.335 |
12.522 |
|
Other loans and advances |
26.405 |
33.620 |
|
Total |
35.740 |
46.142 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B83720920 |
10446421 |
HDFC BANK LIMITED |
08/08/2013 |
- |
- |
110000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
2 |
B44674810 |
10241609 |
YES BANK LIMITED |
17/09/2010 |
06/07/2012 |
- |
240000000.0 |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
|
3 |
G40400467 |
10214119 |
HDFC BANK LIMITED |
07/04/2010 |
14/03/2017 |
- |
500000000.0 |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG,LOWER PAREL WEST,MUMBAIMH400013IN |
|
4 |
B06270490 |
10173629 |
AXIS BANK LIMITED |
13/08/2009 |
02/02/2011 |
- |
730000000.0 |
UNIT NO. 6, CORPORATE
PARK, SION TROMBAY ROAD,CHEMBUR EASTMUMBAIMH400071IN |
|
5 |
A27852003 |
80038727 |
UNION BANK OF
INDIA |
21/12/2004 |
- |
13/07/2007 |
50000000.0 |
INDUSTRIAL FINANCE
BRANCH,239,VIDHAN BHAVAN MARG, NARIMAN POINT,MUMBAIMH400021IN |
|
6 |
Y10256416 |
90156646 |
UNION BANK OF
INDIA |
18/08/1997 |
- |
10/10/2001 |
20000000.0 |
PRABHADEVI BRANCH,
DR.ANNIE BESANT ROAD,PRABHADEVIMUMBAIMH400025IN |
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,
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 |
|
|
1 |
INR 89.20 |
|
Euro |
1 |
INR 78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.