|
|
|
MIRA INFORM REPORT
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Report No. : |
487857 |
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Report Date : |
25.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
EMPIRE HOME APPLIANCES PRIVATE LIMITED (w.e.f.30.07.2014) |
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|
Formerly Known
As : |
EMPIRE HOME APPLIANCES LIMITED (w.e.f.10.09.2004) UNICORN ELECTROMAC LIMITED (w.e.f.31.01.2003) MAHARAJA REFRIGERATIONS LIMITED
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Registered
Office : |
1/7, West Patel Nagar, New Delhi -
110008 |
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Tel. No.: |
91-11-25885794 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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|
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Date of
Incorporation : |
03.02.1992 |
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Com. Reg. No.: |
55-047452 |
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Capital Investment
/ Paid-up Capital : |
INR 143.799 Million |
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|
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CIN No.: [Company Identification
No.] |
U29192DL1992PTC047452 |
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|
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IEC No.: |
Not Applicable (As informed by the management that firm
does not have export and import) |
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TIN No.: |
07530304518 |
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GST No.: |
07AABCE3652Q1ZA |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCE3652Q |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing (including Job Work) of White Goods and Appliances
(Washing Machine and Refrigerator). (Registered Activity and Confirmed by
Management) |
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|
|
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 38900 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1992 having moderate track
record. Management has not filed its financials of March 2017 with Registrar
of Companies. As per the financial of March 2016, the company has achieved decent
growth in its revenue as compared to its previous year and shown improvement
in its profitability. However, the company possesses moderate financial risk profile marked
by negative net worth base and moderate debt protection metrics. Further rating gets constrained on account of previous year
accumulated losses incurred by the company along with high working capital
requirement due to fragmented and highly competitive industry. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some caution. |
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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 25.01.2018
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. Lalit Chilwal |
|
Designation : |
Assistant Manager |
|
Contact No.: |
91-9871673298 |
|
Date : |
24.01.2018 |
LOCATIONS
|
Registered Office : |
1/7, West Patel Nagar, New Delhi -
110008, India |
|
Tel. No.: |
91-11-25885794 / 25885792 |
|
Mobile No.: |
91-9871673298 [Mr. Lalit Chilwal] |
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Fax No.: |
91-11-25885794 |
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E-Mail : |
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Website: |
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Factory : |
Khasra, No. 532 and 533, Village Malkumajra Pargana, Dharampur, Tehsil
Nalagarh, District Solan, Himachal Pradesh, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Harish Kumar |
||||||||||||||||||||||||||||||||||||||||
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Designation : |
Director |
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Address : |
5/21, Shanti Niketan, New Delhi - 110021, India |
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Date of Birth/Age : |
28.01.1990 |
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Date of Appointment : |
03.02.1992 |
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DIN No.: |
00922391 |
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PAN No.: |
AAIPK9783G |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mrs. Anita Kumar |
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Designation : |
Director |
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Address : |
5/21, Shanti Niketan, New Delhi - 110021, India |
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PAN No.: |
AAIPK9784B |
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Date of Appointment : |
03.02.1992 |
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DIN No.: |
01191057 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mrs. Prerna Kumar |
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Designation : |
Director |
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Address : |
54, Road No. 2, Near Shiv Mandir East, Punjabi Bagh, New Delhi - 110026, India Note: Address of the directors has been
updated as per the latest government registry. |
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Date of Appointment : |
13.04.2007 |
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DIN No.: |
01305018 |
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Other Directorship:
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Name : |
Mr. Gyan Dev Sharma |
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Designation : |
Director |
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Address : |
House No. X-1444 Gali No.4 ,Raj Garh Colony, Delhi - 110031, India |
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Date of Appointment : |
21.09.2004 |
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DIN No.: |
01471768 |
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Sarthak Harish Kumar |
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Designation : |
Director |
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Address : |
39/2, East Patel Nagar, New Delhi - 110008, India |
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Date of Birth: |
28.01.1990 |
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Qualification |
Graduate |
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Date of Appointment : |
15.02.2013 |
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DIN No.: |
02158184 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Lalit Chilwal |
|
Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Harish Kumar |
|
359325 |
|
Anita Kumar |
|
13991373 |
|
Prerna Kumar |
|
10 |
|
Priyanka Kumar |
|
1660 |
|
Raksha Devi |
|
10 |
|
Gyan Dev Sharma |
|
10 |
|
Sarthak Harish Kumar |
|
27500 |
|
|
|
|
|
Total |
|
14379888 |
AS ON: 29.09.2016
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
99.80 |
|
Public/Other than promoters (Individual/Hindu Undivided Family - Indian) |
0.20 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing (including Job Work) of White Goods and Appliances
(Washing Machine and Refrigerator). (Registered Activity and Confirmed by Management) |
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Products : |
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Brand Names : |
“Gem“ |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank of India SME Baddi Branch, SAI Road, Baddi - 173205, Himachal Pradesh, India · Kotak Mahindra Bank Limited Karol Bagh Branch, Arya Smaj Road, New Delhi, India |
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Facilities : |
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Auditors : |
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Name : |
Padam Dinesh and Company Chartered Accountants |
|
Address : |
11/6-B, Ii Floor, Shanti Chambers, Pusa Road, Delhi – 110005, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFP9361P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20500000 |
Equity Shares |
INR 10/- each |
INR 205.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14379888 |
Equity Shares |
INR 10/- each |
INR 143.799
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
143.799 |
143.798 |
143.798 |
|
(b) Reserves & Surplus |
(7.556) |
(8.636) |
17.159 |
|
(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) |
136.243 |
135.162 |
160.957 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
444.727 |
479.407 |
308.014 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
28.581 |
11.945 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
444.727 |
507.988 |
319.959 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
154.537 |
44.482 |
87.385 |
|
(b) Trade payables |
49.436 |
7.129 |
43.800 |
|
(c) Other current liabilities |
20.892 |
21.752 |
24.317 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
224.865 |
73.363 |
155.502 |
|
|
|
|
|
|
TOTAL |
805.835 |
716.513 |
636.418 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
295.470 |
244.165 |
234.646 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) 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) |
0.637 |
0.540 |
1.221 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
296.107 |
244.705 |
235.867 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
246.743 |
233.190 |
135.891 |
|
(c) Trade receivables |
101.529 |
62.779 |
73.315 |
|
(d) Cash and cash equivalents |
32.261 |
17.114 |
33.443 |
|
(e) Short-term loans and
advances |
129.195 |
158.725 |
157.902 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
509.728 |
471.808 |
400.551 |
|
|
|
|
|
|
TOTAL |
805.835 |
716.513 |
636.418 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
381.988 |
282.718 |
267.280 |
|
|
Other Income |
118.062 |
2.135 |
8.234 |
|
|
TOTAL
|
500.050 |
284.853 |
275.514 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
349.803 |
163.828 |
187.506 |
|
|
Purchases of Stock-in-Trade |
3.121 |
1.386 |
0.850 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(22.408) |
(4.800) |
(24.658) |
|
|
Employees benefits expense |
57.030 |
50.447 |
35.274 |
|
|
Other expenses |
71.410 |
66.800 |
42.160 |
|
|
TOTAL
|
458.956 |
277.661 |
241.132 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
41.094 |
7.192 |
34.382 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
13.735 |
12.160 |
17.726 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
27.359 |
(4.968) |
16.656 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
26.278 |
20.827 |
16.546 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1.081 |
(25.795) |
0.110 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1.081 |
(25.795) |
0.110 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (INR) |
0.08 |
(1.79) |
0.01 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
154.539 |
(175.595) |
(132.424) |
|
|
|
|
|
|
Net cash flow from operating activity |
126.046 |
(159.196) |
(120.968) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
97.01 |
81.05 |
100.12 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.76 |
4.50 |
3.65 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
51.13 |
15.75 |
84.88 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.17 |
0.03 |
0.25 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.14 |
0.03 |
0.15 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.83 |
0.77 |
0.73 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
4.40 |
3.88 |
2.46 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.65 |
0.54 |
0.97 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.17 |
1.81 |
1.46 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.99 |
0.59 |
1.94 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.28 |
(9.12) |
0.04 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.13 |
(3.60) |
0.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.79 |
(19.08) |
0.07 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.27 |
6.43 |
2.58 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.17 |
3.25 |
1.70 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.17 |
0.19 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.17 |
3.64 |
2.75 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.27 |
6.43 |
2.58 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
143.798 |
143.798 |
143.799 |
|
Reserves & Surplus |
17.159 |
(8.636) |
(7.556) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
160.957 |
135.162 |
136.243 |
|
|
|
|
|
|
long-term borrowings |
308.014 |
479.407 |
444.727 |
|
Short term borrowings |
87.385 |
44.482 |
154.537 |
|
Total
borrowings |
395.399 |
523.889 |
599.264 |
|
Debt/Equity
ratio |
2.457 |
3.876 |
4.398 |
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 |
267.280 |
282.718 |
381.988 |
|
|
|
5.776 |
35.113 |
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 |
267.280 |
282.718 |
381.988 |
|
Profit/ (Loss) |
0.110 |
(25.795) |
1.081 |
|
|
0.04% |
-9.12% |
0.28% |
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 |
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 |
No |
|
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 |
G44771467 |
10043252 |
STATE BANK OF
INDIA |
17/01/2007 |
08/03/2017 |
- |
121000000.0 |
A11- A14, NEAR ROTARY
CHOWKBADDISOLANHP173205IN |
|
2 |
A03468386 |
90058938 |
KOTAK MAHINDRA
BANK LTD. |
02/03/2005 |
- |
29/08/2006 |
14300000.0 |
KAROL BAGH
BRANCHARYA SMAJ ROADNEW DELHIDLIN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
444.727 |
479.407 |
|
|
|
|
|
Total |
444.727 |
479.407 |
REVIEW OF BUSINESS OPERATIONS AND FUTURE
PROSPECTS
During the year, the Company has not earned any income from the business operation. The net profit for the year has been INR 1.081 million as against a loss of INR 25.795 million during the previous financial year 2014-15. The Directors are continuously looking for avenues for future growth of the Company.
FIXED ASSETS:
·
Land
·
Office building
·
Furniture and fixtures
·
Office equipment
·
Computer equipment’s
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 records 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 63.64 |
|
UK Pound |
1 |
INR 89.32 |
|
Euro |
1 |
INR 78.45 |
INFORMATION
DETAILS
|
Information
Gathered by : |
PMN |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
ARC |
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 |
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.