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|
%20PRIVATE%20LIMITED%20-%20488373%2030-Jan-2018_files/image015.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20488373%2030-Jan-2018_files/image016.jpg)
%20PRIVATE%20LIMITED%20-%20488373%2030-Jan-2018_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
488373 |
|
Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SPX FLOW TECHNOLOGY (INDIA) PRIVATE LIMITED [w.e.f.23.03.2010] |
|
|
|
|
Formerly Known
As : |
JOHNSON PUMP (INDIA) PRIVATE LIMITED [w.e.f.30.07.2009] JOHNSON PUMP (INDIA) LIMITED ASSOTEX TRADING AND INVESTMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 275, Odhav Road, Odhav, Ahmedabad – 382415, Gujarat |
|
Tel. No.: |
91-79-22870311 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
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|
|
|
Date of
Incorporation : |
02.04.1980 |
|
|
|
|
Com. Reg. No.: |
04-050281 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 6.710 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900GJ1980PTC050281 |
|
|
|
|
IEC No.: |
0888015852 |
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|
|
TIN No.: |
24075101244 |
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|
|
|
GST No: |
24AAACS7234B1ZU |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS7234B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
·
Manufacturer, Trader and Exporter of
Centrifugal Pumps, Homozinisers, Valves, Mixers Lightnin and Plenty Valves,
etc. [Confirmed
by Management] ·
Manufacturer and Trader of Centrifugal Pumps,
Homozinisers, Valves, etc. [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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 3083500 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
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|
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Comments : |
Subject was incorporated in the year 1980 and is a manufacturer and exporter of Centrifugal Pumps and Valves. Management has failed to file its financial with Registrar of Companies for the FY 2017. As per the available financial record of 2016, the revenue of the company has increased by 25.73% and has maintained average profitability margin of 5.69% during the year under review. The healthy financial profile of the company is reflected by its healthy solvency indicators due to zero debt balance sheet profile along with decent net worth base and satisfactory liquidity position. The company has decent Earning Per Share (EPS) of INR. 240.14 against the face value (FV) of INR 10. The rating takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. However, rating is constrained on account of absence of latest financials. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered good for normal 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
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 DECLINED
MANAGEMENT NON-COOPERATIVE [91-79-22873005]
[91-79-22870311] Ringing
LOCATIONS
|
Registered/ Head Office/ Factory 1 : |
Survey No. 275, Odhav Road, Odhav, Ahmedabad – 382415, Gujarat, India |
|
Tel. No.: |
91-79-22870311/ 22873005/ 27719950/ 30265025 |
|
Mobile No: |
91-9898385472 [Mr. Keshwan] |
|
Fax No.: |
91-79-22870593/ 2522 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
G-72/73, RIICO Industrial Area, Mansarovar, Jaipur - 302020, Rajasthan, India |
|
Tel. No.: |
91-141-2396759 |
|
|
|
|
Marketing Office : |
Nyati Unitree Building, Upper Ground Floor, East A1 Wing, Survey No. 103/129, Nagar Road, Yerwada, Pune – 411006, Maharashtra, India |
|
Tel. No.: |
91-20-30208033 |
|
|
|
|
Branch Office : |
004, Ground Floor, Pentagon Towers P4, Magarpatta City, Hadapsar Pune- 411013, Maharashtra, India |
|
Tel. No.: |
91-20-30208033 |
DIRECTORS
AS ON 28.09.2017
|
Name : |
Stephen Athan Tsoris |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
2516, Flintgrove Road, Charlotte NC, 28226, United States of America |
||||||||||||||||
|
Date of Birth/Age : |
26.07.1957 |
||||||||||||||||
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Date of Appointment : |
04.04.2015 |
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DIN No.: |
07170397 |
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Other Directorship :
|
|||||||||||||||||
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|
|
||||||||||||||||
|
Name : |
Mr. Rajendra Gadadhar Karandikar |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
A-1, Mohar Plot No 12, Swasti Shree, Housing Society, Ganesh Nagar, Karve Nagar, Pune - 411052, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
06.10.1966 |
||||||||||||||||
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Date of Appointment : |
27.09.2011 |
||||||||||||||||
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PAN No.: |
ABXPK2849R |
||||||||||||||||
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DIN No.: |
03614435 |
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Other Directorship :
|
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|
||||||||||||||||
|
Name : |
Mr. Jeremy Smeltser |
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|
Designation : |
Director |
||||||||||||||||
|
Address : |
513 Wyndham Lane, Waxhaw North Carolina, 28201, United States of America |
||||||||||||||||
|
Date of Birth/Age : |
20.01.1975 |
||||||||||||||||
|
Date of Appointment : |
22.03.2013 |
||||||||||||||||
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DIN No.: |
05301559 |
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Other Directorship :
|
|||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Anurag Lakhotia |
|
Designation : |
Company Secretary |
|
Address : |
141, Ganesh Nagar, Iskcon Road, Mansarovar, Jaipur - 302020,
Rajasthan, India |
|
Date of Appointment : |
09.09.2015 |
|
PAN No.: |
AAVPL1540M |
|
|
|
|
Name : |
Mr. Biten |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2016
|
Names of Shareholder |
No. of Shares |
Percentage of Holding |
|
Ballantyne Holding Mauritius Limited |
671020 |
100.00 |
|
|
|
|
|
Total |
671020 |
100.00 |
%20PRIVATE%20LIMITED%20-%20488373%2030-Jan-2018_files/image020.gif)
BUSINESS DETAILS
|
Line of Business : |
·
Manufacturer, Trader and Exporter of
Centrifugal Pumps, Homozinisers, Valves, Mixers Lightnin and Plenty Valves,
etc. [Confirmed
by Management] ·
Manufacturer and Trader of Centrifugal Pumps,
Homozinisers, Valves, etc. [Registered Activity] |
||||||
|
|
|
||||||
|
Products : |
· Pumps · Valves · Homozinisers · Heat Exchangers · Mixers · Systems |
||||||
|
|
|
||||||
|
Brand Names : |
· Anhydro · APV · SPX · Bran+Luebbe · ClydeUnion Pumps · Gerstenberg Schröder (GS) · Johnson Pump · SPX's Lightnin, etc. |
||||||
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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 : |
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||||||
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Selling : |
Not Divulged |
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||||||
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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 : |
· Citi Bank N.A. Ground Floor, Kalapuram, Near Municipal Market, C G Road, Ahmedabad - 380009, Gujarat, India · Citi Bank N.A 2nd Floor, Bhagwati Bhawan, Government Hostel Crossing, M.I. Road, Jaipur - 302001, Rajasthan, India |
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||||||||||||||
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Facilities : |
--- |
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
“Heritage” 3rd Floor, Gujarat Vidyapith, Off
Ashram Road, Ahmedabad - 380014, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFD7919A |
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|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
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|
Holding company |
Ballantyne Holding Mauritius Limited, Mauritius |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
· Spx Flow Technology Assen, B.V · Spx Flow Technology Belgium, N.V · Spx (shanghai) Flow Technology Co. Limited · Spx Flow Technology Poland Sp. Zoo. · Spx Corporation Technology (Goldsboro) · Spx Flow Technology Norderstedt Gmbh · Spx Flow Technology Singapore Pte Limited · Spx Flow Technology Denmark A/s · Spx Flow Technology Rosista Gmbh · Spx Flow Technology (Cops Vulcan) USA · Spx Flow Technology (Cops Vulcan) UK · Spx Flow Technology USA Inc · Spx Flow Technology Santorso S.r.i. · Spx Flow Technology Ireland · Spx Flow Technology Denmark A/s (Anhydro · Spx Flow Technology Bluk · Spx Flow Technology Rochester · Spx Flow Technology Copenhagen · Spx Flow Technology Korae Co Limited · Spx Flow Technology Ocala- USA · Spx Flow Technology Plenty Filteration · Spx Flow Technology Moers Gmbh · Spx Flow Technology France SAS · Spx Ft, London · Spx Corporation (USA) · Spx International Limited · Spx Flow Technology Canada Inc, Canada · Spx Flow Technology Denmark A/s · Spx Flow Technology Kerry, Ireland · Spx Flow Technology Ltd. (bl UK) · Spx Flow Technology France Sas · Spx Flow Technology Assen, B.V · Radio Detection Limited |
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3680000 |
Equity Shares |
INR 10/- each |
INR 36.800 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
671020 |
Equity Shares |
INR 10/- each |
INR 6.710 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 |
6.710 |
6.710 |
4.995 |
|
(b) Reserves and Surplus |
1072.525 |
913.537 |
395.196 |
|
(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) |
1079.235 |
920.247 |
400.191 |
|
|
|
|
|
|
(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 |
3.046 |
2.950 |
3.050 |
|
(d) long-term
provisions |
23.384 |
19.989 |
8.305 |
|
Total Non-current
Liabilities (3) |
26.430 |
22.939 |
11.355 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
378.659 |
283.955 |
277.136 |
|
(c) Other
current liabilities |
149.327 |
264.175 |
71.804 |
|
(d) Short-term
provisions |
41.124 |
36.990 |
7.084 |
|
Total Current
Liabilities (4) |
569.110 |
585.120 |
356.024 |
|
|
|
|
|
|
TOTAL |
1674.775 |
1528.306 |
767.570 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
233.096 |
244.127 |
64.101 |
|
(ii)
Intangible Assets |
0.401 |
0.620 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
29.214 |
20.213 |
6.994 |
|
(d)
Long-term
loans and advances |
20.271 |
8.157 |
9.862 |
|
(e) Other
Non-current assets |
38.502 |
2.597 |
0.000 |
|
Total Non-Current
Assets |
321.484 |
275.714 |
80.957 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
232.561 |
215.732 |
132.507 |
|
(c) Trade
receivables |
445.568 |
540.325 |
366.963 |
|
(d) Cash and bank
balances |
527.612 |
354.361 |
89.892 |
|
(e)
Short-term loans and advances |
110.253 |
77.826 |
97.036 |
|
(f) Other
current assets |
37.297 |
64.348 |
0.215 |
|
Total Current
Assets |
1353.291 |
1252.592 |
686.613 |
|
|
|
|
|
|
TOTAL |
1674.775 |
1528.306 |
767.570 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2830.407 |
2251.224 |
1348.216 |
|
|
Other Income |
51.648 |
7.620 |
2.650 |
|
|
TOTAL (A) |
2882.055 |
2258.844 |
1350.866 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1241.114 |
878.809 |
562.046 |
|
|
Purchases of
Stock-in-Trade |
822.378 |
756.257 |
440.014 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(4.732) |
(2.585) |
5.819 |
|
|
Employee benefit expense |
245.332 |
182.794 |
100.974 |
|
|
Other expenses |
287.977 |
277.102 |
157.403 |
|
|
TOTAL (B) |
2592.069 |
2092.377 |
1266.256 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
289.986 |
166.467 |
84.610 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.252 |
8.633 |
4.675 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
275.734 |
157.834 |
79.935 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.142 |
15.584 |
15.383 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
248.592 |
142.250 |
64.552 |
|
|
|
|
|
|
|
Less |
TAX (H) |
87.451 |
53.905 |
24.361 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX (G-H) (I) |
161.141 |
88.345 |
40.191 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
478.236 |
233.492 |
180.021 |
|
|
Services |
24.928 |
19.220 |
0.000 |
|
|
Pattern development charges |
0.000 |
0.591 |
0.112 |
|
|
TOTAL EARNINGS |
503.164 |
253.303 |
180.133 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw material and Components |
180.508 |
175.241 |
100.509 |
|
|
Purchase of stock-in-trade |
447.226 |
407.721 |
440.015 |
|
|
TOTAL IMPORTS |
627.734 |
582.962 |
540.524 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
240.14 |
162.18 |
80.46 |
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 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
338.201 |
159.000 |
64.549 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
226.847 |
105.986 |
36.963 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
57.46 |
87.61 |
99.35 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.35 |
4.17 |
3.67 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
66.98 |
63.39 |
100.95 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.25 |
0.77 |
0.64 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.24 |
0.68 |
1.32 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.34 |
0.38 |
0.46 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.53 |
0.64 |
0.89 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.22 |
0.27 |
0.16 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
20.35 |
19.28 |
18.10 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
5.69 |
3.92 |
2.98 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
9.62 |
5.78 |
5.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
14.93 |
9.60 |
10.04 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.38 |
2.14 |
1.93 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.97 |
1.77 |
1.56 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.64 |
0.60 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.38 |
2.14 |
1.93 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL DATA
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
4.995 |
6.710 |
6.710 |
|
Reserves & Surplus |
395.196 |
913.537 |
1072.525 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
400.191 |
920.247 |
1079.235 |
|
|
|
|
|
|
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 |
%20PRIVATE%20LIMITED%20-%20488373%2030-Jan-2018_files/image022.gif)
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 |
1348.216 |
2251.224 |
2830.407 |
|
|
|
66.978 |
25.727 |
%20PRIVATE%20LIMITED%20-%20488373%2030-Jan-2018_files/image024.gif)
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 |
1348.216 |
2251.224 |
2830.407 |
|
Profit/ (Loss) |
40.191 |
88.345 |
161.141 |
|
|
2.98
% |
3.92
% |
5.69
% |
%20PRIVATE%20LIMITED%20-%20488373%2030-Jan-2018_files/image026.gif)
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C50059898 |
10561395 |
CITI BANK N.A. |
23/01/2015 |
- |
- |
20000000.0 |
KALAPURAM, C. G. ROAD,NAVRANGPURA,AHMEDABADGJ380009IN |
|
2 |
C50058213 |
10245326 |
CITI BANK N.A. |
01/10/2010 |
23/01/2015 |
- |
124500000.0 |
KALAPURAM, C. G. ROAD,NAVRANGPURA,AHMEDABADGJ380009IN |
|
3 |
A89302046 |
10228107 |
CITIBANK N.A |
09/07/2010 |
- |
- |
110400000.0 |
2ND FLOOR, BHAGWATI BHAWANGOVERMENT HOSTEL CROSSING, M. I. ROADJAIPURRJ302001IN |
|
4 |
Y10128116 |
90048021 |
ICICI LTD |
20/07/2000 |
- |
- |
5800000.0 |
ICICI TOWERSBANDRA KURLA COMPLEX BANDRA (E)MUMBAIMH400051IN |
|
5 |
C40476863 |
90188483 |
TEXTILE TRADERS CO - OP. BANK LTD. |
28/05/1993 |
- |
30/12/2014 |
200000.0 |
PARSI CHAWL MASKATI MARKETAHMEDABADGJ380002IN |
|
6 |
C37061827 |
90188208 |
THE KALUPUR COMMERCE CO - OP. BANK LTD. |
11/02/1986 |
- |
21/11/2014 |
800000.0 |
KALUPURCHOKHA BAZARAHMEDABADGJ380002IN |
|
7 |
B05622972 |
90188720 |
ICICI BANKNG CORP. LTD. |
26/02/1998 |
20/02/2001 |
03/02/2011 |
21000000.0 |
JMC HOUSE; OPP; PARIMAL GARDENPANCHWATIAHMEDABADGJ380006IN |
|
8 |
Y10290731 |
90188832 |
ICICI BANKNG CORP. LTD. |
20/02/2001 |
- |
12/07/2001 |
48000000.0 |
JMC HOUSE; OPP; PARIMAL GARDENPANCHWATIAHMEDABADGJ380006IN |
|
9 |
Y10290604 |
90188705 |
TEXTILE TRADERS CO - OP. BANK LTD. |
01/10/1997 |
- |
11/04/1998 |
203000.0 |
6; VASANT VIHAR SOCIETYMITHAKHALI SIX ROADS; NAVRANGPURAAHMEDABADGJ380009IN |
|
10 |
Y10288345 |
90186446 |
TEXTILE TRADERS CO - OP. BANK LTD. |
12/04/1997 |
- |
11/04/1998 |
275000.0 |
6; VASANT VIHAR SOCIETYMITHAKHALI SIX ROADS; NAVRANGPURAAHMEDABADGJ380009IN |
|
11 |
Y10290377 |
90188478 |
STATE BANK OF INDIA |
23/04/1993 |
31/01/1997 |
07/04/1998 |
4500000.0 |
G.V.M.S.A. LTD.ODHAVAHMEDABADGJ380010IN |
|
12 |
Y10290362 |
90188463 |
THE KALUPUR COMMERCIAL CO - OP. BANK LTD. |
16/12/1992 |
- |
21/05/1993 |
1800000.0 |
KALUPURCHAKHA BAZARAHMEDABADGJ380002IN |
COMPANY OVERVIEW
SPX Flow Technology (India) Private Limited (“the Company”) is a private limited company incorporated as Assotex Trading and Investment Private Limited on 2nd April, 1980 under the Indian Companies Act, 1956. The Company changed its name to its present name w.e.f. 23rd March, 2010 The Company is primarily engaged in the business of manufacturing and trading of Centrifugal Pumps, Homozinisers, valves, etc.
Subsequently, the Company amalgamated with SPX India Private Limited, its wholly owned subsidiary company engaged in the business of manufacturing and trading of industrial filters and filtration system at its plant at Jaipur w.e.f 1st December, 2014.
STATE OF COMPANIES AFFAIR
SPX Flow Technology (India) Private Limited (“the Company”) is a private limited company incorporated as Assotex Trading and Investment Private Limited on 2nd April, 1980 under the Indian Companies Act, 1956. The Company changed its name to its present name w.e.f.23rd March, 2010. The Company is primarily engaged in the business of manufacturing and trading of Centrifugal Pumps, Homozinisers, valves, etc. Subsequently, the Company amalgamated with SPX India Private Limited, its wholly owned subsidiary company engaged in the business of manufacturing and trading of industrial filters and filtration system at its plant at Jaipur w.e.f 1st December, 2014.
SCHEME OF
AMALGAMATION
The Companies Act, 1956 for amalgamation of erstwhile SPX India Private Limited (the “Transferor Company”) with the Company (“the Scheme”) as sanctioned by the Hon’ble High Court of Gujarat vide its order dated March 30, 2015. The Effective Date of the Scheme is May 1, 2015. All the assets and liabilities of the Transferor Company were transferred to and vested in the Company without any consideration, on a going concern basis with effect from December 1, 2014, the Appointed Date as stated in the Scheme. The Transferor Company was a wholly owned subsidiary of the Company and was engaged in the business of manufacturing and trading of industrial filters and filtration systems at its plant at Jaipur. The Scheme, has accordingly been given effect to, in these financial statements.
The amalgamation has been accounted for under the “Purchase method” as prescribed under Accounting Standard 14- “Accounting for Amalgamations” (AS 14) issued by the Institute of Chartered Accountants of India. Accordingly, after giving effect in compliance of the Scheme of Amalgamation, all the assets and liabilities of the Transferor Company, are now considered a division of the Company, were recorded in the books of the Company, at their fair value, as determined by an approved valuer, as at the Appointed Date. Accordingly, the difference of INR 118,686,686 between the net assets of the Transferor Company and the carrying value of investments in Equity Shares of the Transferor Company in the books of the Company has been credited to Capital Reserve.
Upon coming into effect of the Scheme of amalgamation the authorized share capital of the Transferor Company has been added to the authorized share capital of the Company as on the effective date without any further act or deed on the part of the Company.
In view of the Scheme of amalgamation being given effect to in previous period’s financial statements, the figures of the current year are not comparable with those of the previous period.
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 43 Dr. V B
Gandhi Marg, Fort, Mumbai-400023, Maharashtra, India to the present address
w.e.f 09.03.2007
FIXED ASSETS:
Tangible 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 63.55 |
|
|
1 |
INR 89.82 |
|
Euro |
1 |
INR 78.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
YES |
|
--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 be considered as unfavorable.
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.