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|
MIRA INFORM REPORT
|
Report No. : |
488701 |
|
Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
PRAVIN RATILAL SHARE AND STOCK BROKERS LIMITED |
|
|
|
|
Registered
Office : |
Sakar-1, 5th Floor, East Wing, Opposite Gandhigram Railway
Station,
Ahmedabad – 380007, Gujarat |
|
Tel. No.: |
91-79-26553841 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
26.05.1994 |
|
|
|
|
Com. Reg. No.: |
04-022117 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 38.625 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67120GJ1994PLC022117 |
|
|
|
|
IEC No.: |
Not Divulged |
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|
GSTIN/UIN : |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACP9124H |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
The company is substantially engaged in the business of acting as broker / depository service to the clients and is providing various services relating to the financial assets namely initial public offers, investment in mutual funds, investment in Government bonds, investment in fixed deposits, portfolio advisor, advising on investment in equity shares, derivatives etc. [Registered Activity] |
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|
|
|
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 |
|
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|
|
Payment Behaviour : |
Usually correct |
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|
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|
Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1994. It is engaged in the business of acting as broker / depository service to the clients and is providing various services relating to the financial assets namely initial public offers, investment in mutual funds, investment in Government bonds, investment in fixed deposits, portfolio advisor, advising on investment in equity shares, derivatives etc. For the financial year 2017, the company has achieved revenue growth
of 12.99% as compared to the previous year along with a decent profit margin
of 20.04%. The sound financial risk profile of the company is marked by adequate
networth base along with debt free balance sheet profile. Rating takes into account the subject’s long established track record
of business operations along with extensive experience of its promoters. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
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 30.01.2018
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 BY
|
Name : |
Mr. Hiren Gandhi |
|
Designation : |
Chief Accountant |
|
Contact No.: |
91-79-26553841 |
|
Date : |
29.01.2018 |
LOCATIONS
|
Registered Office : |
Sakar-1, 5th Floor, East Wing, Opposite Gandhigram Railway
Station,
Ahmedabad – 380007, Gujarat, India |
|
Tel. No.: |
91-79-26553841 / 26581133 / 26553771 / 26553700 / 66302700 |
|
Fax No.: |
91-79-26582331 |
|
E-Mail : |
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|
Website : |
|
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|
|
|
Branch Offices : |
Located at: ·
Ahmedabad ·
Bharuch ·
Bhavnagar ·
Dholka ·
Gandhinagar ·
Himmatnagar · Kapadwanj · Khambhat · Mandal · Mehsana · Prantij · Rajkot · Surendranagar · Vadodara · Viramgam · Visnagar ·
Vyara |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Atul Pravinbhai Sharedalal |
|
Designation : |
Director |
|
Address : |
Ratnakar 27B, BMM Society, Ellisbridge, Ahmedabad –
380006, Gujarat,
India |
|
Date of Appointment : |
24.06.1994 |
|
DIN No.: |
00325830 |
|
|
|
|
Name : |
Mr. Pravin Ratilal Sharedalal |
|
Designation : |
Director |
|
Address : |
Ratnakar 27B, BMM Society, Ellisbridge, Ahmedabad –
380006, Gujarat,
India |
|
Date of Appointment : |
24.06.1994 |
|
DIN No.: |
00332213 |
|
|
|
|
Name : |
Mr. Jigen Pravinbhai Sharedalal |
|
Designation : |
Director |
|
Address : |
Ratnakar 27B, BMM Society, Ellisbridge, Ahmedabad –
380006, Gujarat,
India |
|
Date of Appointment : |
24.06.1994 |
|
DIN No.: |
00332291 |
KEY EXECUTIVES
|
Name : |
Mr. Hiren Gandhi |
|
Designation : |
Chief Accountant |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Pravin Ratilal Sharedalal |
|
100 |
|
Atulbhai Pravinbhai Sharedalal |
|
350100 |
|
Jigen Pravinbhai Sharedalal |
|
100 |
|
Sulochana Pravinbhai Sharedalal |
|
100 |
|
Trupti Atulbhai Sharedalal |
|
100 |
|
Shweta Jigenbhai Sharedalal |
|
100 |
|
Keyur R. Shah |
|
100 |
|
Pravin Ratilal Sharedalal Sulochana Pravinbhai Sharedalal |
|
902400 |
|
Atul Pravinbhai Sharedalal Pravin Ratilal Sharedalal |
|
269900 |
|
Jigen Pravinbhai Sharedalal Pravin Ratilal Sharedalal |
|
176900 |
|
Sulochana Pravinbhai Sharedalal Pravin Ratilal Sharedalal |
|
369600 |
|
Trupti Atulbhai Sharedalal Atul Pravinbhai Sharedalal |
|
122500 |
|
Shweta ligenbhai Sharedalal ligen Pravinbhai Sharedalal |
|
159000 |
|
Sulochana Pravinbhai Sharedalal Jigen Pravinbhai Sharedalal |
|
93000 |
|
Jigen Pravinbhai Sharedalal Shweta ligenbhai Sharedalal |
|
97500 |
|
Jigen Pravinbhai HUF |
|
57500 |
|
Pravin Ratilal HUF |
|
154000 |
|
Atul Pravinbhai Sharedalal Trupti Atulbhai Sharedalal |
|
56000 |
|
Atul Pravinbhai HUF |
|
53500 |
|
PRSSB Services Limited |
|
1000000 |
|
|
|
|
|
Total |
|
3862500 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
74.11 |
|
Promoters [Bodies
corporate] |
25.89 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is substantially engaged in the business of acting as broker / depository service to the clients and is providing various services relating to the financial assets namely initial public offers, investment in mutual funds, investment in Government bonds, investment in fixed deposits, portfolio advisor, advising on investment in equity shares, derivatives etc. [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Deepak Soni and Associates Chartered Accountants |
|
Address : |
5, Jayshree Apartment, Udhyan Marg, Law Garden, Ahmedabad – 380009,
Gujarat, India |
|
Tel. No.: |
91-79-26425150
/ 26652784 |
|
PAN No.: |
AFLPS9250E |
|
Membership No.: |
31138 |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
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|
Associated Company
/ Enterprise where common control exists : |
· PRSSB Services Limited, India |
|
|
|
|
Relatives of Key Management
Personnel and their Enterprises : |
· Atul P. Sharedalal (HUF) ·
Jigen P. Sharedalal (HUF) |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3862500 |
Equity Shares |
INR 10/- each |
INR 38.625 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 |
38.625 |
38.625 |
38.625 |
|
(b) Reserves & Surplus |
153.746 |
143.364 |
168.083 |
|
(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) |
192.371 |
181.989 |
206.708 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
26.794 |
33.205 |
35.609 |
|
(c) Other
current liabilities |
2.696 |
2.067 |
1.898 |
|
(d) Short-term
provisions |
2.771 |
2.074 |
2.551 |
|
Total Current
Liabilities (4) |
32.261 |
37.346 |
40.058 |
|
|
|
|
|
|
TOTAL |
224.632 |
219.335 |
246.766 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
22.051 |
24.493 |
23.869 |
|
(ii)
Intangible Assets |
8.510 |
8.510 |
8.510 |
|
(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 |
116.211 |
104.956 |
59.299 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
26.887 |
36.143 |
61.603 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
173.659 |
174.102 |
153.281 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
16.922 |
10.759 |
13.414 |
|
(d) Cash
and cash equivalents |
34.039 |
34.461 |
80.058 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
0.012 |
0.013 |
0.013 |
|
Total
Current Assets |
50.973 |
45.233 |
93.485 |
|
|
|
|
|
|
TOTAL |
224.632 |
219.335 |
246.766 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
51.818 |
45.857 |
51.392 |
|
|
|
Other Income |
15.877 |
9.759 |
10.126 |
|
|
|
TOTAL |
67.695 |
55.616 |
61.518 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
0.000 |
|
|
|
Purchase of Stock-in-trade |
0.000 |
0.000 |
0.000 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
0.000 |
0.000 |
0.000 |
|
|
|
Employee Benefits Expenses |
23.295 |
20.175 |
23.371 |
|
|
|
Other Expenses |
19.465 |
19.660 |
18.204 |
|
|
|
TOTAL |
42.760 |
39.835 |
41.575 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
24.935 |
15.781 |
19.943 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.283 |
0.675 |
0.790 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
21.652 |
15.106 |
19.153 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
4.248 |
5.412 |
6.396 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
17.404 |
9.694 |
12.757 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.022 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
10.382 |
9.694 |
12.757 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (INR) |
2.69 |
2.51 |
3.30 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
(4.336) |
(5.356) |
(2.733) |
|
Net cash flow from operating activities |
5.194 |
(2.656) |
4.774 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
119.20 |
85.64 |
95.27 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.06 |
4.26 |
3.83 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.82 |
0.48 |
0.62 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.14 |
0.17 |
0.16 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.17 |
0.21 |
0.19 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.16 |
0.18 |
0.16 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
7.60 |
23.38 |
25.24 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
20.04 |
21.14 |
24.82 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.62 |
4.42 |
5.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.40 |
5.33 |
6.17 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.58 |
1.21 |
2.33 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.58 |
1.21 |
2.33 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.86 |
0.83 |
0.84 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.58 |
1.21 |
2.33 |
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 |
38.625 |
38.625 |
38.625 |
|
Reserves & Surplus |
168.083 |
143.364 |
153.746 |
|
Net
worth |
206.708 |
181.989 |
192.371 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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
|
51.392 |
45.857 |
51.818 |
|
|
|
(10.770) |
12.999 |
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
|
51.392 |
45.857 |
51.818 |
|
Profit/(Loss) |
12.757 |
9.694 |
10.382 |
|
|
24.82% |
21.14% |
20.04% |
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 |
No |
|
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 |
No |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
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 |
GENERAL INFORMATION
The company has been incorporated as a public limited company under section 3 of the Companies Act, 1956. The company is substantially engaged in the business of acting as broker / depository service to the clients and is providing various services relating to the financial assets namely initial public offers, investment in mutual funds, investment in Government bonds, investment in fixed deposits, portfolio advisor, advising on investment in equity shares, derivatives etc. The registered office of the company is situated at ‘Sakar-1, 5th Floor, East Wing, Opposite Gandhigram Railway Station, Ahmedabad – 380007, Gujarat, India’. The business affairs of the company are being administrated by the Chairman and the directors of the company under overall supervision by the Board of Directors.
BUSINESS OPERATIONS AND FUTURE PROSPECTS:
During the
financial year 2016-17, the company has earned a gross income of INR 53.421
million, from its business operations during the financial year under review
against INR 45.857 million in the previous year. The net profit of the company
for the year stood at INR 10.382 million as against INR 9.694 million in its
corresponding previous financial year. The cautious and conservative approach
on part of the management could help in achieving the profitable business
operations. It is expected that the company will be able to perform better in
future.
During the year company has achieved a turnover of INR 51.818 million
and has made net profit of INR 10.382 million.
During the year the company has made profit. However company focused on
innovation and to grow faster. The company create an effectiveness strategy for
achieves new capabilities.
PROFILE
The company, one of the leading Share Brokers cum Depository Participants (DP), is a customer oriented research based organization. They have upheld the traditional ethical value of quality and trust together with strict adherence with principles and ethics handed down from four generations. Started and promoted as a small stock broking firm in the year 1957 by Shri Pravin Ratilal Sharedalal; worthy Chairman of the Company, the Company has gradually grown up into a young corporate entity amongst a number of small and big stock brokers of the region.
The Company is a member of the National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE) for Capital Market Equity, Derivatives as well as Currency Derivatives Segments and also of Ahmedabad Stock Exchange Limited (ASE). In the due course of time they have also acquired the membership as a Depository Participant (DP) with the National Securities Depository Limited (NSDL). The name PRAVIN RATILAL SHAREDALAL itself has invaluable goodwill and brand equity attached to it.
In its endeavor to satisfy its clients the company has institutionalized a hi-tech transparent system. It has become an institution where finance has acquired a new dimension. With its principles of integrity in all dealings combining strong business ethics, PRSSB has built up a reputation where trust is the bottom line. This reputation is clearly indicated by its impressive and ever growing list of clients. Their customers rely on us because of their ability to devise innovative solutions and manage complex transactions.
The goal of the Company is to keep pace with the times by adapting to the needs of the market by providing sound advice, quality solutions and quick services to its clients. All these are made available at no extra cost and without burdening the clients with heavy charges - Providing satisfactory service in an economical way.
They are proud to announce that the founders and promoter directors of the company are into its 59th year of business operations.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Forward Looking Statements
The financial statements have been prepared in compliance with the requirements of the Companies Act. 1956 and Generally Accepted Accounting Principles (GAAP) in India. However, readers are cautioned that this discussion may contain "forward-looking statements" by Pravin Ratilal Share And Stock Brokers Ltd ("PRSSB") that are not historical in nature. These forward looking statements, which may include statements relating to future results of operations, financial conditions, business prospects, plans and objectives, are based on the current belief, assumptions, expectations, estimates and projections of the directors and management of PRSSB about the business, industry and markets in which PRSSB operates. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond PRSSB's control and difficult to predict that could cause actual results, performance or achievements.
Such statements are not and should not be construed as a representation of future performance or achievements of PRSSB. It should be noted that the actual performance or achievements of PRSSB may vary significantly from such statements.
Macro-Economic Review and Industry
Developments
With a growth of 7.1% in GDP in the year 16-17 which is slower than the growth registered in 2015-16.lndia's growth assumes significance as the global economy recorded a growth of 3.2% whereas the emerging and developing economies recorded a growth of 4.3%. This is achieved mainly because of restoring macroeconomic stability achieved on account of fiscal consolidation; control over inflation and support from fall in the global commodity prices.
As was envisaged, the financial year 2017 did not pan out as per the expectations, primarily due to deterioration in the global situation leading to export slowdown and second straight year of poor monsoon. The rural economy has been badly hit as successive years of drought impacted the crop revenues. The impact of global slowdown was visible on the Indian economy too. The continued reduction in commodity prices raised concerns regarding the economic growth in many countries. The FDI inflow increased during the year, where FIIs were the net sellers and, as a result the Indian stock markets witnessed a decline. The subdued global demand and week commodity prices resulted in a fall in India's overall exports. On imports front also, the fall in international crude prices translated into sizeable saving on account of petroleum and oil imports, despite a pick-up in imports volumes in Q3.
While growth has been much in line with IMF expectations, trade growth has actually slowed down owing to weak investment growth across emerging market economies. There is a need to build resilience against potential global shocks emanating from volatile financial market, while simultaneously focusing on reviving domestic economy through better transmission and lastly, the Government's infra push and reforms should start improving the domestic economy. Going ahead, the sentiments should be better with gradual improvement in economy and corporate earnings.
In the current fiscal, the Market Indices have continued to be vibrant owing to the improved Gross Domestic Product (GOP) and the Goods and Service Tax (GST) bill passed by the parliament will contribute in India's GOP growth in FY2017-18. With greater interest in equities and other asset classes, the wealth management industry is also on the cusp of significant growth going forward. The Indian rupee remained fairly resilient versus other emerging market peers despite noises about a possible Fed rate hike during the later part of FY2016-17 on the back of strong capital inflows and reserve build-up by the RBI.
With the Brexit happening in the end of first quarter of FY 2016-17, Indian markets had a mixed reaction. While the debt market remained calm, the Sensex dropped 1091 points on the day after Brexit, however, it immediately regained 486 points before close. The impact of Brexit on the market started easing after 48 hours. India is reasonably insulated from Brexit type of global developments, since the country is going to be the fastest growing major economy in the world, assisted by several policy initiatives such as the FDI, make in India and renewed thrust on infrastructure developments.
The Government of India and the Reserve Bank are committed to an institutional architecture that accords primacy to price stability as an objective of monetary policy. Higher volatility and increasing indices in the current fiscal also show strong positive sentiments of the capital market and the investors.
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
FIXED ASSETS:
Tangible assets
· Furniture and Fixture
· Machinery
· Computer
· Motor Cars
· Vehicles (Other Than Cars)
Intangible assets
· Stock Exchange
· Cards
· NSE Cards
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 63.55 |
|
|
1 |
INR 89.82 |
|
Euro |
1 |
INR 78.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared by
: |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.