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|
|
MIRA INFORM REPORT
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Report No. : |
488779 |
|
Report Date : |
31.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED |
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Registered
Office : |
"Prakash House", 39/40, Krishna Industrial Estate, Gorwa
Road, Vadodara-390016, Gujarat |
|
Tel. No.: |
91-265-3926000 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
09.08.2002 |
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Com. Reg. No.: |
04-041095 |
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Capital
Investment / Paid-up Capital : |
INR 0.500 Million |
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CIN No.: [Company Identification
No.] |
U51496GJ2002PTC041095 |
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IEC No.: |
3405005698 |
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TIN No.: |
Not Available |
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GST No.: |
24AACCP6646G1ZF |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCP6646G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in business of Trader and Importer of Chemical, Food Additives, Pharmaceutical and Chemical Products. (Confirmed by Management) (Currently, Subject
is a Trader and not Exporter and Distributor. The correct line of business is
updated and it’s confirmed by management.) |
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|
|
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No. of Employees
: |
100 (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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 274000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2002 and it is a trader of chemical and chemical products. As per financials of March 2017, the company has registered growth of 9.61% in its revenue as compared to its previous year’s revenue and has reported minimal profit margin of 0.83%. Rating takes into consideration the company’s established track record of business operations marked by sound net worth base along with average debt coverage indicators and decent liquidity position. Rating also takes into account the vast experience of the promoters in the chemical trading business and established relationship with reputed customers and suppliers. Further, the company has reported a good Earnings Per Share of INR 340.17 against its face value INR 10. However, ratings strength is partially offset by its thin profitability, small net worth base, inherent risk in trading operations and presence in a highly competitive and fragmented chemical industry. Payments are 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.
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 rating = BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
29.12.2016 |
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 31.01.2018.
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
|
Name : |
Mr. Jayendra Kumar Verma |
|
Designation : |
Finance Head |
|
Contact No.: |
91-265-3926000 |
|
Date : |
29.01.2018 |
LOCATIONS
|
Registered Office : |
"Prakash House", 39/40, Krishna Industrial Estate, Gorwa
Road, Vadodara-390016, Gujarat, India |
|
Tel. No.: |
91-265-3926000 |
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Fax No.: |
91-265-3962046/ 3926122 |
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E-Mail : |
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Website : |
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Area : |
1000 Sq. ft. |
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Location: |
Owned |
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Locality: |
Commercial cum Residential |
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Warehouse 1: |
Opposite Ranoli Railway Station, Ranoli, Vadodara, Gujarat, India |
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Warehouse 2: |
221/2, S M Hand Process House, Magankaka Udyognagar, Opposite Cozy Hotel, Ranipur Patia, Narol, Ahmedabad, Gujarat, India |
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Warehouse 3: |
17-A, B and 18-B, Green Park, Surat- Navsari Road, Unn, Sachin, Surat, Gujarat, India |
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Warehouse 4: |
Sohil Ware House, Wade Compound, Anjur Val Gaon Road, |
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Warehouse 5: |
Shed No. B/35, Survey No:182/2, Anand Industrial Estate, Narol, Ahmedabad, Gujarat, India |
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Branch Office 1 : |
Prakash House 87, Premjeevan Building, Kaji Saiyad Street, Masjid
Bunder, Mumbai-400003, Maharashtra, India
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Other Branch Offices : |
Located at: · Ahmedabad · North Gujarat · Ankleshwar |
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Marketing Offices : |
Located at: · Vapi · Daman · Silvassa · Saurashtra ·
Surat |
Note: Database Branch Offices i.e. Bharuch and Dahej
has been closed now.
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Dilip Kumarpal Shah |
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Designation : |
Managing Director |
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Address : |
15, Urmi Society, Vadodara Productivity Road, Vadodara – 390020,
Gujarat, India |
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Date of Birth/Age : |
21.09.1956 |
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Qualification: |
Graduate |
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Date of Appointment : |
09.08.2002 |
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PAN No. : |
AFSPS8320Q |
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DIN No. : |
00308782 |
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Other Directorship
:
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Name : |
Mr. Hardik Suryakant Shah |
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Designation : |
Director |
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Address : |
5, Sriniketan Society, Jetalpur Road, Vadodara – 390005, Gujarat,
India |
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Date of Birth/Age : |
02.03.1977 |
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Qualification: |
Graduate |
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Date of Appointment : |
28.09.2002 |
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PAN No. : |
AFSPS8331P |
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DIN No. : |
00315509 |
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Other
Directorship :
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Name : |
Mr. Manish Kumarpal Shah |
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Designation : |
Director |
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Address : |
3, Spring Valley, Productivity Road, Vadodara, Gujarat, India |
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Date of Birth/Age : |
13.12.1967 |
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Qualification: |
Gold medalist in Masters in Business Administration from MS University of Vadodara with specialization in Finance and International Trade |
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Date of Appointment : |
09.08.2002 |
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PAN No. : |
AFSPS8324L |
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DIN No. : |
00315521 |
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Other
Directorship :
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Name : |
Mr. Pinakin Kumarpal Shah |
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Designation : |
Director |
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Address : |
7, Nandanvan Colony, Near Akota Stadium, Vadodara – 390020, Gujarat,
India |
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Date of Birth/Age : |
18.09.1961 |
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Qualification: |
B. Com. |
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Date of Appointment : |
28.09.2002 |
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Pan No.: |
AFSPS8322N |
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DIN No. : |
00411629 |
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Other
Directorship :
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NOTE: As per our previous database, Mr. Sudip Dilip Shah, Mr. Chirag Prakash
Shah, Mr. Hitesh Chandrakant Shah, Mr. Prakash Chunilal Shah, Mr. Atul
Chandrakant Shah were the directors of the company, however, they does not appear in
the current Government Registry Records and the same has been confirmed with
the management as well.
KEY EXECUTIVE
|
Name : |
Mr. Jayendra Kumar Verma |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Shah Dilipbhai |
19249 |
38.50 |
|
Shah Hardik |
6253 |
12.51 |
|
Shah Sudip |
24498 |
49.00 |
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|
|
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Total |
50000 |
100.00 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
38.50 |
|
Public/Other than promoters (Individual/Hindu Undivided Family - Indian) |
61.50 |
|
|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in business of Trader and Importer of Chemical, Food Additives, Pharmaceutical and Chemical Products. (Confirmed by Management) (Currently, Subject
is a Trader and not Exporter and Distributor. The correct line of business is
updated and it’s confirmed by management.) |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : (Currently not doing) |
Not Available |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers
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No. of Employees : |
100 (Approximately) |
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Bankers : |
· Axis Bank Limited Vardhman Complex, Opposite, GEB Office Race Course, Circle, Vadodara - 390007, Gujarat, India |
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Facilities : |
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Auditors : |
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Name : |
Shah Shangvi and Company Chartered Accountants |
|
Address : |
2, Samarpan, 26 Haribhakti Colony, Race Course, Vadodara-390015, Gujarat, Indai |
|
Income-tax
PAN of auditor or auditor's firm : |
AITPS7518Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate Company: |
·
Prakash Software Solutions Private Limited ·
Prakash Chemicals International Private
Limited |
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Other Related Parties: |
· Hansaben Trust · Kalpana Traders |
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|
Group Companies : [From Indirect Sources-Website] |
· Prakash Chemicals Private Limited · Prakash Teleservices Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 10/- each |
INR 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 10/- each |
INR 0.500 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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
95.535 |
78.527 |
70.544 |
|
(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) |
96.035 |
79.027 |
71.044 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
17.943 |
14.947 |
5.498 |
|
(b) Deferred tax liabilities (Net) |
2.739 |
2.474 |
2.730 |
|
(c)
Other long term liabilities |
0.180 |
0.235 |
0.190 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
20.862 |
17.656 |
8.418 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
103.425 |
71.269 |
74.983 |
|
(b)
Trade payables |
289.808 |
257.942 |
208.486 |
|
(c)
Other current liabilities |
61.162 |
3.353 |
2.048 |
|
(d)
Short-term provisions |
7.179 |
2.971 |
4.976 |
|
Total
Current Liabilities (4) |
461.574 |
335.535 |
290.493 |
|
|
|
|
|
|
TOTAL |
578.471 |
432.218 |
369.955 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
41.777 |
29.618 |
32.540 |
|
(ii)
Intangible Assets |
1.526 |
0.253 |
0.529 |
|
(iii)
Capital work-in-progress |
0.058 |
1.644 |
1.282 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
5.249 |
6.227 |
6.227 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
9.995 |
9.795 |
9.817 |
|
(e)
Other Non-current assets |
3.895 |
3.647 |
0.568 |
|
Total
Non-Current Assets |
62.500 |
51.184 |
50.963 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
25.471 |
23.362 |
20.799 |
|
(c)
Trade receivables |
381.275 |
332.025 |
261.338 |
|
(d)
Cash and cash equivalents |
25.025 |
13.292 |
22.531 |
|
(e)
Short-term loans and advances |
84.200 |
12.355 |
14.324 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
515.971 |
381.034 |
318.992 |
|
|
|
|
|
|
TOTAL |
578.471 |
432.218 |
369.955 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2040.967 |
1862.031 |
1785.041 |
|
|
|
Other Income |
24.073 |
4.654 |
34.574 |
|
|
|
TOTAL |
2065.040 |
1866.685 |
1819.615 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
1918.776 |
1747.257 |
1649.387 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(3.993) |
(2.563) |
4.191 |
|
|
|
Employees benefits expense |
41.860 |
17.732 |
14.067 |
|
|
|
Exceptional items |
(0.419) |
0.000 |
0.000 |
|
|
|
Other expenses |
69.046 |
79.268 |
94.575 |
|
|
|
TOTAL |
2025.270 |
1841.694 |
1762.220 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
39.770 |
24.991 |
57.395 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
10.901 |
9.702 |
10.686 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
28.869 |
15.289 |
46.709 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.113 |
3.783 |
4.048 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
25.756 |
11.506 |
42.661 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.747 |
3.523 |
7.179 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
17.009 |
7.983 |
35.482 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
0.000 |
15.317 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
204.775 |
133.694 |
99.342 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
340.17 |
159.65 |
709.64 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1.937 |
1.086 |
0.458 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
2.370 |
(0.894) |
81.815 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(2.343) |
(6.344) |
76.370 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
68.19 |
65.08 |
53.44 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.35 |
5.61 |
6.83 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
55.13 |
53.88 |
46.14 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.56 |
1.07 |
2.76 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.92 |
0.79 |
1.67 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.83 |
0.81 |
0.80 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.28 |
1.10 |
1.14 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
4.81 |
4.25 |
4.09 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.45 |
0.40 |
0.48 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.65 |
2.58 |
5.37 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.83 |
0.43 |
1.99 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.94 |
1.85 |
9.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
17.71 |
10.10 |
49.94 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.12 |
1.14 |
1.10 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.06 |
1.07 |
1.03 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.17 |
0.18 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
246.61 |
174.60 |
161.88 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.12 |
1.14 |
1.10 |
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 |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
70.544 |
78.527 |
95.535 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
71.044 |
79.027 |
96.035 |
|
|
|
|
|
|
long-term borrowings |
5.498 |
14.947 |
17.943 |
|
Short term borrowings |
74.983 |
71.269 |
103.425 |
|
Current Maturities of Long
term debt |
0.458 |
1.086 |
1.937 |
|
Total
borrowings |
80.939 |
87.302 |
123.305 |
|
Debt/Equity
ratio |
1.139 |
1.105 |
1.284 |
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 |
1785.041 |
1862.031 |
2040.967 |
|
|
|
4.313 |
9.610 |
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 |
1785.041 |
1862.031 |
2040.967 |
|
Profit |
35.482 |
7.983 |
17.009 |
|
|
1.99% |
0.43% |
0.83% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
Yes |
|
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 |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G62704754 |
100134578 |
AXIS BANK LIMITED |
13/10/2017 |
- |
- |
207500000.0 |
VARDHMAN COMPLEX, OPP., GEB OFFICERACE COURSE CIRCLEVADODARAGJ390007IN |
|
2 |
C05553417 |
10246186 |
BANK OF BARODA |
22/09/2010 |
14/05/2014 |
- |
136400000.0 |
NAVAYARD BRANCH, INDULAL YAGNIK TRUST BLDG.,OPP. CHHANI JAKAT NAKA,VADODARAGJ390002IN |
|
3 |
C05553664 |
10103898 |
BANK OF BARODA |
08/04/2008 |
21/04/2014 |
- |
136400000.0 |
NAVAYARD BRANCH, INDULAL YAGNIK TRUST BLDG.,OPP. CHHANI JAKAT NAKA,VADODARAGJ390002IN |
|
4 |
A04234860 |
10018039 |
BANK OF BARODA |
24/08/2006 |
- |
- |
30000000.0 |
NAVAYARD BRANCHNAVAYARDVADODARAGJ390002IN |
|
5 |
Y10200447 |
90110755 |
BANK OF BARODA |
01/07/2004 |
- |
- |
9000000.0 |
NAVAYARD BRANCHOPP. CHAMAN JAKAT NAKA; CHHANI ROADBARODAGJ390002IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
11.607 |
2.887 |
|
Loans and advances from others |
4.292 |
11.268 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
49.960 |
29.472 |
|
|
|
|
|
Total |
65.859 |
43.627 |
REVIEW OF
OPERATIONS
The total revenue from operation during the year is INR 2146.418 million (Previous year INR 1860.651) the profit before tax is INR 25.756 million (Previous year INR 11.506 million).
FIXED ASSETS:
·
Land
·
Buildings
·
plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer Equipment’s
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.75 |
|
UK Pound |
1 |
INR 89.39 |
|
Euro |
1 |
INR 78.75 |
INFORMATION
DETAILS
|
Information
Gathered by : |
PUJ |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
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.