|
|
|
MIRA INFORM REPORT
|
Report No. : |
488621 |
|
Report Date : |
25.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
JESONS INDUSTRIES
LIMITED |
|
|
|
|
Registered
Office : |
904, Peninsula Tower No. 1, Ganpat Rao Kadam Marg, Lower Parel (West),
Mumbai – 400 013, |
|
Tel. No.: |
91-22-66515253 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
12.10.1999 |
|
|
|
|
Com. Reg. No.: |
11-122193 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 89.352
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24295MH1999PLC122193 |
|
|
|
|
GSTIN/UIN : |
Not Divulged |
|
|
|
|
IEC No.: |
0300015704 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ06269E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ7659P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Synthetic
Adhesives, Vinyl Acetate and Acrylic Emulsions. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum Credit Limit : |
USD 2700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Jesons Industries Limited is engaged in manufacturing of Synthetic
Adhesives, Vinyl Acetate and Acrylic Emulsions. The company was incorporated
in 1999 and is based in Mumbai, Maharashtra. For the financial year 2017, the company has achieved top line growth
of 19.45% as compared to the previous year along with an average profit
margin of 4.40%. The sound financial risk profile of the company is marked by healthy net
worth base along with comfortable liquidity and favourable gap between trade
payables and trade receivables. However, the above strength are tempered by susceptibility of
company’s profit margins to raw material price volatility. Rating takes into consideration the subject’s healthy earnings per
share of INR 290 against the face value of INR 100. Payment are reported to be regular. In view of long track record and sound financial base, the company can
be considered normal 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 |
CARE |
|
Rating |
Long Term Bank facilities : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
August 23, 2016 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank facilities: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
August 23, 2016 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 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 DENIED
Management non cooperative (91-22-66515253/ 66515226/ 91-260-2243834)
LOCATIONS
|
Registered Office/ Head Office : |
904, Peninsula Tower No. 1, Ganpat Rao Kadam Marg, Lower Parel (West),
Mumbai – 400 013, Maharashtra, India |
|
Tel. No.: |
91-22-66515253 / 66515226 |
|
Fax No.: |
91-22-66515252 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
6500 Sq. Ft. |
|
Location: |
Owned |
|
|
|
|
Factory 1: |
Unit I, Survey No. 377/1/7, Zari Causeway Road, Behind Store Quarry, Kachigam, Daman (Union Territory), India |
|
Tel. No.: |
91-260-2243834 |
|
Fax No.: |
91-260-2240255 |
|
Location: |
Owned |
|
|
|
|
Factory 2: |
Located At: Roorkee, Uttarakhand, India |
|
|
|
|
Factory 3: |
Plot No A-4/2 Part B, Siport Industrial Park, Village – Thervoy
Kandigai, Taluka - Gummidipoondi, District- Thiruvallur - 601202, Tamilnadu,
India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Dhiresh Shashikant Gosalia |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
131/132, Spenta Tower, 13th Floor, 55-57, Forjet Street, Gowalia Tank,
Mumbai – 400036, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
06.01.1962 |
||||||||||||||||
|
Qualification : |
B.SC, Diploma In Textile Chemistry Management, Executive Course from
Hardward University |
||||||||||||||||
|
Date of Appointment : |
29.09.2014 |
||||||||||||||||
|
DIN No.: |
00217158 |
||||||||||||||||
|
PAN No.: |
AAIPG5800G |
||||||||||||||||
|
Other directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Raju Vinod Palvia |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Shramdan Building, 209/11, 3rd Floor, Opposite Sion Hospital, Sion (East), Mumbai - 400022, Maharashtra, India |
||||||||||||||||
|
Date of Birth |
12.03.1961 |
||||||||||||||||
|
Qualification: |
Diploma in Textile Management |
||||||||||||||||
|
Date of Appointment : |
30.09.2013 |
||||||||||||||||
|
DIN No.: |
06538252 |
||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Shreyas Mahendra Patel |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Flat No.12, Mount Unique, 62-A, Pedder Road, Mumbai – 400026,
Maharashtra, India |
||||||||||||||||
|
Date of Birth |
28.03.1969 |
||||||||||||||||
|
Qualification: |
Advocate |
||||||||||||||||
|
Date of Appointment : |
29.09.2014 |
||||||||||||||||
|
DIN No.: |
00112370 |
||||||||||||||||
|
Other directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Alyza Nihar Sanghai |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
52, Neelamber Co-Operative Housing Society Limited, 37, Pedder Road,
Mumbai, 400024, Maharashtra, India |
||||||||||||||||
|
Date of Birth |
17.04.1983 |
||||||||||||||||
|
Qualification: |
MBA, Financial Journalist |
||||||||||||||||
|
Date of Appointment : |
29.09.2014 |
||||||||||||||||
|
DIN No.: |
06958628 |
||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mrs. Jyoti Himanshu Doshi |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Karma Kshetra, D-2, Flat No. 145, 14th Floor, Sion (East),
Mumbai – 400037, Maharashtra, India |
||||||||||||||||
|
Date of Appointment : |
29.09.2014 |
||||||||||||||||
|
Date of Birth |
28.11.1965 |
||||||||||||||||
|
Qualification: |
B.A |
||||||||||||||||
|
DIN No.: |
06958724 |
||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Kushal Vasantbhai Gala |
|
Designation : |
Secretary |
|
Address : |
4/B, Nalanda Niketan, Datta Mandir Road, Malad (East), Mumbai - 400097, Maharashtra, India |
|
PAN No.: |
AKBPG9948G |
|
Date of Appointment : |
01.09.2015 |
|
|
|
|
Name : |
AABID and Company |
|
Designation : |
Company Secretary |
|
Address : |
12, 4th Floor, Sai Sadan 68, Janmabhooml Marg, Fort, Mumbai-400001, Maharashtra, India |
|
Tel. No: |
91-22-40025464 / 22828661 |
|
Mob. No: |
91-9892158830 |
|
Email: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Dhiresh Gosalia |
798020 |
|
Madhavi D Gosalia |
70100 |
|
Hemal M Kampani |
100 |
|
Kiran V Daftary |
100 |
|
Ravina D Gosalia |
25000 |
|
Madhu Ranchhoddas Mehta |
100 |
|
Parul Mody |
100 |
|
Total |
893520 |
Equity Share Break up (Percentage of Total Equity)
As on: 26.09.2017
|
Category |
Percentage |
|
Promoters |
|
|
Individual/Hindu Undivided Family – India |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Synthetic Adhesives, Vinyl Acetate and Acrylic Emulsions. (Registered
Activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
R. Trivedi and
Associates Chartered
Accountants |
|
Address : |
119, Ground
Floor, G-Block, Ranjit Studio, Dadasaheb Palke Road, Dadar, (East), Mumbai -
400014, Maharashtra, India |
|
Tel. No.: |
91-22-24140957 |
|
Email: |
|
|
PAN No.: |
AADPT8670Q |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary: |
--- |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
INR 100/- each |
INR 150.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
893520 |
Equity Shares |
INR 100/-
each |
INR 89.352 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 |
89.352 |
89.352 |
89.352 |
|
(b) Reserves and Surplus |
875.325 |
615.378 |
512.046 |
|
(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) |
964.677 |
704.730 |
601.398 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
129.726 |
164.484 |
33.014 |
|
(b) Deferred tax liabilities (Net) |
6.690 |
16.460 |
8.301 |
|
(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) |
136.416 |
180.944 |
41.315 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
323.988 |
316.458 |
421.208 |
|
(b) Trade payables |
1154.705 |
710.842 |
853.506 |
|
(c) Other current
liabilities |
92.737 |
69.822 |
46.791 |
|
(d) Short-term provisions |
50.571 |
19.351 |
17.419 |
|
Total Current Liabilities
(4) |
1622.001 |
1116.473 |
1338.924 |
|
|
|
|
|
|
TOTAL |
2723.094 |
2002.147 |
1981.637 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
619.413 |
458.713 |
204.441 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.489 |
30.648 |
50.588 |
|
(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 |
0.000 |
0.000 |
4.258 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
619.902 |
489.361 |
259.287 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
10.533 |
|
(b) Inventories |
600.399 |
417.323 |
419.962 |
|
(c) Trade receivables |
1264.783 |
815.423 |
875.956 |
|
(d) Cash and
bank balances |
10.180 |
22.133 |
65.683 |
|
(e) Short-term loans
and advances |
227.830 |
257.907 |
350.216 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
2103.192 |
1512.786 |
1722.350 |
|
|
|
|
|
|
TOTAL |
2723.094 |
2002.147 |
1981.637 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
5910.412 |
4947.998 |
5350.862 |
|
|
Other Income |
4.438 |
4.643 |
20.381 |
|
|
TOTAL |
5914.850 |
4952.641 |
5371.243 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4998.497 |
4284.610 |
4812.685 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(24.416) |
(25.058) |
40.143 |
|
|
Employee benefit expense |
196.821 |
112.066 |
86.193 |
|
|
CSR expenditure |
2.400 |
2.750 |
0.000 |
|
|
Other expenses |
285.204 |
319.532 |
216.246 |
|
|
Exceptional items |
0.000 |
(0.222) |
0.000 |
|
|
TOTAL |
5458.506 |
4693.678 |
5155.267 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
456.344 |
258.963 |
215.976 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
78.840 |
77.605 |
68.979 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
377.504 |
181.358 |
146.997 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
53.332 |
33.533 |
29.925 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
324.172 |
147.825 |
117.072 |
|
|
|
|
|
|
|
Less |
TAX |
64.225 |
44.494 |
21.651 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
259.947 |
103.331 |
95.421 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
861.050 |
659.620 |
695.719 |
|
|
TOTAL EARNINGS |
861.050 |
659.620 |
695.719 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3554.390 |
3119.044 |
3952.739 |
|
|
Capital Goods |
0.389 |
1.207 |
0.987 |
|
|
TOTAL IMPORTS |
3554.779 |
3120.251 |
3953.726 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
290.92 |
115.65 |
106.479 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
46.145 |
43.230 |
6.181 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
253.057 |
310.205 |
153.890 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
199.119 |
272.919 |
140.658 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
78.11 |
60.15 |
59.75 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
4.67 |
6.07 |
6.11 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
84.32 |
60.56 |
64.73 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.76 |
0.62 |
0.51 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.74 |
0.53 |
0.85 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.66 |
0.66 |
0.70 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / Net Worth) |
|
0.52 |
0.74 |
0.77 |
|
|
|
|
|
|
|
Current Liabilities to Net worth (Current Liabilities
/ Net Worth) |
|
1.68 |
1.58 |
2.23 |
|
|
|
|
|
|
|
Fixed Assets to Net Worth (Net Fixed Assets
/ Net Worth) |
|
0.64 |
0.69 |
0.42 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
5.79 |
3.34 |
3.13 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
4.40 |
2.09 |
1.78 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
9.55 |
5.16 |
4.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / Net
Worth) * 100] |
(%) |
26.95 |
14.66 |
15.87 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.30 |
1.35 |
1.29 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.93 |
0.98 |
0.97 |
|
|
|
|
|
|
|
G-Score Ratio Financial [Net Worth / Total
Assets] |
|
0.35 |
0.35 |
0.30 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
5.59 |
5.87 |
5.15 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.30 |
1.35 |
1.29 |
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 |
89.352 |
89.352 |
89.352 |
|
Reserves & Surplus |
512.046 |
615.378 |
875.325 |
|
Net
worth |
601.398 |
704.730 |
964.677 |
|
|
|
|
|
|
Long-term borrowings |
33.014 |
164.484 |
129.724 |
|
Short term borrowings |
421.208 |
316.458 |
323.988 |
|
Current maturities of
long-term debts |
6.181 |
43.230 |
46.145 |
|
Total
borrowings |
460.403 |
524.172 |
499.857 |
|
Debt/Equity
ratio |
0.766 |
0.744 |
0.518 |
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 |
5350.862 |
4947.998 |
5910.412 |
|
|
|
(7.529) |
19.451 |
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 |
5350.862 |
4947.998 |
5910.412 |
|
Profit/ (Loss) |
95.421 |
103.331 |
259.947 |
|
|
1.78
% |
2.09
% |
4.40
% |
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 |
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 |
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 |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF OPERATIONS:
The Company’s continuing operations reported revenue for operations (net of excise) for the year ended 31st March, 2017 stood at INR 5910.412 Million as against INR 4947.998 Million for the previous FY 2015-16. Thus achieved higher sales growth of 20%of the total sales revenue for the year, 17% is contributed by exports. The Company recorded volume growth of about 16% in adhesive and coating emulsion business over the previous year. The Company’s continued focus on sales growth, effective raw material management and cost control measures, helped in improving the Company’s operational EBDIT to INR 456.344 Million (7.76% of sales) against INR 258.963 Million (5.28% of sales) during the FY 2016-17. During the year, the Company reported a profit after tax (after exceptional items) of INR 259.947 Million for the year ended 31st March, 2017 as compared to profit after tax (after exceptional items) of INR 103.331 Million in the previous year. The Company remain committed and focused on its drive for sustainable growth in all segments it operates, through better material and cost management, improving utilization of existing capacities, faster ramp-up of new capacities, targeting new markets and introducing innovative products.
ECONOMIC OVERVIEW:
The global economy has recovered smartly and is expected to grow at 3.5% in 2017 & 3.6% in 2018 according to the International Monetary Fund (IMF). This growth will be driven by emerging market economies, which now accounts for almost 75% of global growth. Commodity prices picked up, dispelling deflationary pressure and the job scenario in leading nations like USA begin to show growth impulses. Consumer confidence in key regions kept investor sentiments buoyant and major market indices closed the year on a positive note. Within this scenario, the Indian economy continued to be one the fasted growing major economies with the IMF estimating that the country would grow at 7.2% in 2017 & 7.7% in 2018.
The Government pressed ahead with its agenda for progress, passing some crucial Legislative Bills, such as Goods and Service Tax Bill, which will result in streamlining of Central and State Government taxes and pave the way for more fair and transparent and uniform tax system in the country in the near future. This and other decisive measures, such as demonetization drive and efforts to build on the Make in India theme by allowing 100% FDI into a gamut of sectors, amongst many others, resulted in an increase in global confidence in India.
OUTLOOK AND
OPPORTUNITIES:
- The Company enjoys additional advantages of product development capabilities, branding & distribution.
- The Chemical market in India is has been encumbered with added taxations on its production capacity as well as its consumption demands. With the introduction of the Goods and Service Tax (GST), double taxation will be pre-empted as all state and central taxes will be rationalized and made consistent across the country. Consequently, future production facilities will be based more on logistical considerations and supply to consuming industries will be market driven.
- The Government Make in India initiative will facilitate the Industry with common infrastructure.
- The Indian Chemical Industry continues to enjoy advantages in terms of labour costs.
- The Cost of compliance could make operations increasingly economically unviable for small players. Ability to scale up, offering differentiated products through innovations, implementing an effective sales and marketing strategy and maintaining high level of regulatory standards will clearly separate winners from the crowds in this space.
NATURE OF BUSINESS
Subject the Company was incorporated under Companies Act, 1956 on 12th October 1999 at Mumbai, India. The company is engaged in the business of manufacturing of Adhesives and Binders. The manufacturing facility of the Company are located at Union Territory of Daman and Diu, at Roorkee in the State of Uttaranchal and at Thiruvallur district in the State of Tamil Nadu
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long Term
Borrowings |
|
|
|
Loans and advances from directors |
40.000 |
40.000 |
|
Total |
40.000 |
40.000 |
INDEX OF CAHREGS:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C72273683 |
10606276 |
Punjab National Bank |
30/10/2015 |
- |
- |
1300000.0 |
SHIVAJI PRAK BRANCH, GOPI TANK ROAD, BEHIND CITILITE CINEMA, MAHIM, MUMBAI-400016, MAHARASHTRA, INDIA |
|
2 |
C71852610 |
10605500 |
DBS Bank Limited |
19/10/2015 |
- |
- |
165000000.0 |
DLF CAPITOL POINT, GROUND FLOOR AND FIRST FLOOR, BABA KHARAK SINGH MARG, CONNAUGHT PLACE, NEW DELHI-110001, INDIA |
|
3 |
C56562515 |
10575166 |
DBS Bank Limited |
15/06/2015 |
- |
- |
165000000.0 |
DLF CAPITOL POINT, GROUND FLOOR AND FIRST FLOOR, BABA KHARAK SINGH MARG, CONNAUGHT PLACE, NEW DELHI-110001, INDIA |
|
4 |
C63208052 |
10187219 |
CENTRAL BANK OF INDIA |
30/10/2009 |
25/08/2015 |
- |
1905000000.0 |
M. G. ROAD, FORT, MUMBAI-400023, MAHARASHTRA, INDIA |
|
5 |
C11698966 |
10243444 |
CENTRAL BANK OF INDIA |
25/09/2010 |
20/07/2011 |
08/07/2014 |
1102000000.0 |
MUMBAI MAIN OFFICE, M.G. ROAD FORT, MUMBAI-400001, MAHARASHTRA, INDIA |
|
6 |
C11698230 |
90236138 |
Central bank Of India |
21/01/2002 |
30/10/2009 |
08/07/2014 |
153000000.0 |
M. G. ROAD, FORT, MUMBAI-400023, MAHARASHTRA, INDIA |
|
7 |
B23276686 |
10237335 |
Barclays Bank Plc |
01/09/2010 |
21/10/2010 |
10/10/2011 |
60000000.0 |
601/603, CEEJAY HOUSE, SHIVSAGAR ESTATE, DR. ANNIE BESANT ROAD, WORLI, MUMBAI-400018, MAHARASHTRA, INDIA |
|
8 |
B24176984 |
10221549 |
CENTRAL BANK OF INDIA |
20/04/2010 |
- |
28/09/2011 |
30000000.0 |
MUMBAI MAIN OFFICE, M.G ROAD, FORT, MUMBAI-400023, MAHARASHTRA, INDIA |
|
9 |
B19170604 |
10251536 |
PUNJAB NATIONAL BANK |
19/10/2010 |
- |
12/08/2011 |
60000000.0 |
7, BIKAIJI KAMA PALACE, NEW DELHI-110066, INDIA |
|
10 |
A76704998 |
10164251 |
CENTRAL BANK OF INDIA |
01/07/2009 |
- |
29/12/2009 |
10000000.0 |
MAIN OFFICE, MUMBAI-400023, MAHARASHTRA, INDIA |
|
11 |
A16036261 |
90236025 |
BANK OF INDIA |
06/09/2000 |
- |
25/05/2007 |
30000000.0 |
S.S.I BRANCH, ANDHERI, MUMBAI, MAHARASHTRA, INDIA |
|
12 |
A16514390 |
80031968 |
Bank of India |
06/09/2000 |
- |
25/05/2007 |
30000000.0 |
S.S.I. BRANCH, ANDHERI (EAST), MUMBAI-400069, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
(INR in Million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Service Tax Credit on Commission |
138.100 |
138.100 |
|
Custom Duty |
265.200 |
0.000 |
|
Custom Duty |
34.400 |
0.000 |
FIXED ASSETS
- Land
- Buildings
- 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 63.64 |
|
|
1 |
INR 89.32 |
|
Euro |
1 |
INR 78.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
PYK |
|
|
|
|
Report Prepared
by : |
MTN |
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.