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|
|
MIRA INFORM REPORT
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Report No. : |
488001 |
|
Report Date : |
25.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
TURAKHIA INTERNATIONAL PRIVATE LIMITED (w.e.f. 17.10.2011) |
|
|
|
|
Formerly Known
As : |
MEGHA
POLYMERS PRIVATE LIMITED |
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Registered
Office : |
414, 4th Floor, Vyapar Bhavan, 49, P. D’Mello Road, Carnac Bunder, Mumbai – 400009, Maharashtra |
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Tel. No.: |
91-22-66194444 / 23482483 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
|
Date of
Incorporation : |
26.08.1991 |
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Com. Reg. No.: |
11-173982 |
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Capital
Investment / Paid-up Capital : |
INR 28.211 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U51909MH1991PTC173982 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCM0854B |
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GSTIN : |
27AACCM0854B1ZW |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Company is engaged in Wholesale Trader of Iron and Steel. (Registered activity) |
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No. of Employees
: |
28 (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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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 1991 and it is a wholesale
trader of
iron and steel products. As per financials of March 2017, the company has registered marginal
growth in its revenue and has reported good profit margin of 7.87%. Rating takes into consideration the company’s established track record
of business operations marked by healthy net worth base along with zero debt
balance sheet and good liquidity position. Further, the company has reported a good earnings per share of INR
104.49 against its face value of INR 10. However, rating strength is partially offset by highly competitive and
working capital intensive steel industry. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered good 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 |
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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 moderate credit
risk. |
|
Date |
30.12.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = BBB+ |
|
Rating Explanation |
Strong degree of safety low 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 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 : |
Ms. Chitra Pawar |
|
Designation : |
Import Department |
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Contact No.: |
91-22-66194444 |
|
Date : |
24.01.2018 |
LOCATIONS
|
Registered Office : |
414, 4th Floor, Vyapar Bhavan, 49, P. D’Mello Road, Carnac Bunder, Mumbai – 400009, Maharashtra, India |
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Tel. No.: |
91-22-66194444 / 23482483 |
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Fax No.: |
91-22-23480807 |
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E-Mail : |
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Website : |
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Warehouse : |
Located at :
Plot No. 1278, Road No. 14, Sector KWC, Kalamboli,
Taluka – Panwel, District – Raigad, Navi Mumbai – 410218, Maharashtra,
India
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Branches : |
Located at :
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Manoj Mansukhlal Turakhia |
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Designation : |
Director |
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Address : |
7/1 Tehmi Terrace, 805 Dr. B. A. Road, Dadar, Mumbai – 400014, Maharashtra, India |
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Date of Birth/Age : |
29.03.1961 |
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Qualification : |
MBA |
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Date of Appointment : |
08.10.2004 |
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PAN No.: |
ABRPT8827A |
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DIN No.: |
01569510 |
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Other Directorship:
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Name : |
Mr. Anuj Turakhia Manoj |
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Designation : |
Director |
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Address : |
7/1 Tehmi Terrace, 805 Dr. B. A. Road, Dadar, Mumbai – 400014, Maharashtra, India |
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Date of Birth/Age : |
26.05.1987 |
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Date of Appointment : |
25.02.2016 |
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PAN No.: |
AFIPT1363E |
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DIN No.: |
02526276 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Ms. Chitra Pawar |
|
Designation : |
Import Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Manoj Mansukhlal Turakhia |
|
328550 |
|
Anuj Manoj Turakhia |
|
350900 |
|
Shreyan Manoj Turakhia |
|
303810 |
|
Turakhia Ferromat Private Limited |
|
1625530 |
|
Manoj Mansukhlal Turakhia Huf |
|
212350 |
|
|
|
|
|
Total |
|
2821140 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
42.38 |
|
Promoter - Bodies
corporate |
57.62 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is engaged in Wholesale Trader of Iron and Steel. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Available |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
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Terms : |
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Selling : |
Advance Payment, Cheque, Credit (30 Days) |
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Purchasing : |
Advance Payment, Cheque, Credit (30 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users, OEMs
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No. of Employees : |
28 (Approximately) |
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Bankers : |
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Auditors : |
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|
Name : |
Manish Modi and Associates Chartered Accountants |
|
Address : |
Gita Building, 2nd Floor, Plot No.92, Opp. Sion Bus Depot, Near Chhagan Meetha Petrol Pump, Sion (East), Mumbai - 400022 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAOFM4644C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
Turakhia Ferromet Private Limited, India U27200MH1994PTC078585 |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
Turakhia Engineering Company Private Limited, India U28900MH2005PTC152644 Turakhia Engineering Company (Pithampur) Private Limited, India U28110MP2009PTC022083 Steel Mart India Private Limited, India U74990MH2009PTC195588 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2821140 |
Equity Shares |
INR 10/- each |
INR 28.211
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees 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 |
28.211 |
28.211 |
28.211 |
|
(b) Reserves and Surplus |
760.916 |
466.124 |
412.845 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
789.127 |
494.335 |
441.056 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
321.067 |
642.474 |
599.873 |
|
(b) Trade
payables |
396.051 |
422.604 |
763.011 |
|
(c) Other
current liabilities |
145.602 |
61.611 |
50.527 |
|
(d) Short-term
provisions |
13.404 |
6.433 |
18.418 |
|
Total Current
Liabilities (4) |
876.124 |
1133.122 |
1431.829 |
|
|
|
|
|
|
TOTAL |
1665.251 |
1627.457 |
1872.885 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
4.805 |
2.976 |
1.766 |
|
(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 |
126.185 |
8.584 |
48.772 |
|
(c) Deferred tax assets (net) |
0.802 |
0.823 |
0.860 |
|
(d)
Long-term loans and advances |
0.094 |
1.121 |
1.111 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
131.886 |
13.504 |
52.509 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
447.519 |
333.413 |
371.688 |
|
(c) Trade
receivables |
749.698 |
870.359 |
1073.640 |
|
(d) Cash and
bank balances |
266.258 |
263.812 |
175.485 |
|
(e)
Short-term loans and advances |
68.827 |
143.671 |
198.599 |
|
(f) Other
current assets |
1.063 |
2.698 |
0.964 |
|
Total
Current Assets |
1533.365 |
1613.953 |
1820.376 |
|
|
|
|
|
|
TOTAL |
1665.251 |
1627.457 |
1872.885 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3744.716 |
3705.473 |
4696.700 |
|
|
Other Income |
32.365 |
20.948 |
21.711 |
|
|
TOTAL |
3777.081 |
3726.421 |
4718.411 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
2688.028 |
2709.080 |
3836.474 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(114.106) |
38.275 |
(23.897) |
|
|
Employee benefit expense |
92.196 |
21.516 |
20.155 |
|
|
Other expenses |
581.640 |
789.298 |
674.048 |
|
|
TOTAL |
3247.758 |
3558.169 |
4506.780 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
529.323 |
168.252 |
211.631 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
77.906 |
72.670 |
61.161 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
451.417 |
95.582 |
150.470 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.685 |
0.970 |
2.744 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
450.732 |
94.612 |
147.726 |
|
|
|
|
|
|
|
Less |
TAX |
155.940 |
41.333 |
50.743 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
294.792 |
53.279 |
96.983 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
104.494 |
18.886 |
34.377 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Net cash flows from (used in) operations |
631.419 |
72.525 |
(118.985) |
|
Net cash flows from (used in) operating activities |
482.423 |
37.662 |
(170.399) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
73.07 |
85.73 |
83.44 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
4.99 |
4.26 |
4.37 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
53.78 |
56.94 |
72.59 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
1.18 |
0.50 |
0.57 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
110.16 |
56.54 |
119.84 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.53 |
0.70 |
0.76 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.41 |
1.30 |
1.36 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
1.11 |
2.29 |
3.25 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.01 |
0.01 |
0.00 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
6.79 |
2.32 |
3.46 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
7.87 |
1.44 |
2.06 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
17.70 |
3.27 |
5.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
37.36 |
10.78 |
21.99 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.75 |
1.42 |
1.27 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories) /
Current Liabilities] |
|
1.24 |
1.13 |
1.01 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.47 |
0.30 |
0.24 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
11.38 |
22.77 |
21.26 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.75 |
1.42 |
1.27 |
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 |
28.211 |
28.211 |
28.211 |
|
Reserves & Surplus |
412.845 |
466.124 |
760.916 |
|
Net
worth |
441.056 |
494.335 |
789.127 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
599.873 |
642.474 |
321.067 |
|
Total
borrowings |
599.873 |
642.474 |
321.067 |
|
Debt/Equity
ratio |
1.360 |
1.300 |
0.407 |
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 |
4696.700 |
3705.473 |
3744.716 |
|
|
|
(21.105) |
1.059 |
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 |
4696.700 |
3705.473 |
3744.716 |
|
Profit/ (Loss) |
96.983 |
53.279 |
294.792 |
|
|
2.06
% |
1.44
% |
7.87
% |
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 |
Yes |
|
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 |