|
|
|
MIRA INFORM REPORT
|
Report No. : |
516281 |
|
Report Date : |
22.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
ANNAPURNA PET PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-201/202, 2nd Floor, Rajeshri Accord, Telly Cross Lane, Off. S.N.
Road, Near Station, Andheri (East), Mumbai – 400069, Maharashtra |
|
Tel. No.: |
91-22-65250005 |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of Incorporation
: |
01.06.2011 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25203MH2011PTC218187 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 34.880
Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0311022952 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCA5155C |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturing, Trading and Jobwork of Poly Pet Bottles, Pet
Preforums, Poly-Prothlene, P P Caps, and all types of Packing Materials. [Registered
Activity] |
|
|
|
|
No. of Employees
: |
Information declined 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 : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 2011. It is engaged in the business of manufacturing of polyethylene terephthalate (PET) pre-forms and bottle caps, used in the manufacturing of plastic bottles/containers. For the financial year 2017, the company has achieved revenue growth of 22.40% as compared to the previous year along with an average profit margin of 1.19%. The satisfactory financial risk profile of the company is marked by sufficient net worth base along with average debt balance sheet profile. Rating is constrained by susceptibility of margins to fluctuation in input prices and presence in highly regulated and competitive plastic product industry. Payment seems to be slow but 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
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Loans = BB- [Issuer not
cooperating] |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
04.04.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Loans = A4 [Issuer not
cooperating] |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
04.04.2018 |
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
31-03-2018.
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 22.06.2018
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 BY
|
Name : |
Mr. Atul Agarwal |
|
Designation : |
Director |
|
Contact No.: |
91-9821776737 |
|
Date : |
21.06.2018 |
|
Name : |
Mr. Ankit Mittal |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9277853437 |
|
Date : |
21.06.2018 |
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-22-65250005]
LOCATIONS
|
Registered/ Corporate Office : |
A-201/202, 2nd Floor, Rajeshri Accord, Telly Cross Lane, Off. S.N.
Road, Near Station, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
91-22-65250005 |
|
Mobile No.: |
91-9821776737 [Mr. Atul Agarwal] 91-9277853437 [Mr. Ankit Mittal] |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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|
Factory : |
Survey No. 18, Near Varoli River, Village Humran, Sanjan,
Umargaon, District: Valsad – 396165,
Gujarat, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sunil Badriprasad Goyal |
|
Designation : |
Director |
|
Address : |
731/A, 7th Floor, Akshay Girikunj-Iii Paliram Road, Andheri (West) Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
04.10.1967 |
|
Date of Appointment : |
16.07.2012 |
|
DIN No.: |
00503570 |
|
|
|
|
Name : |
Mr. Krishan Murari Tulsian |
|
Designation : |
Director |
|
Address : |
B/501, Aster Tower, Vasant Valley Film City Road, Malad (East) Mumbai - 400097, Maharashtra, India |
|
Date of Birth/Age : |
13.12.1961 |
|
Date of Appointment : |
01.06.2011 |
|
DIN No.: |
00508806 |
|
|
|
|
Name : |
Mr. Suresh Kumar Murarka |
|
Designation : |
Director |
|
Address : |
B-503/504, Sahyadri, Upper Govind Nagar, Malad (East) Mumbai - 400097, Maharashtra, India |
|
Date of Birth/Age : |
01.12.1967 |
|
Date of Appointment : |
16.07.2012 |
|
DIN No.: |
01496223 |
|
|
|
|
Name : |
Mr. Atul Aggarwal |
|
Designation : |
Director |
|
Address : |
R/O Ateli Mandi, Near Old Anaj Mandi Tehnanraul, District - M/Garh, Haryana 123001, India |
|
Date of Appointment : |
28.10.2016 |
|
DIN No.: |
03547197 |
|
|
|
|
Name : |
Mr. Vimalkumar Shriram Bajoria |
|
Designation : |
Director |
|
Address : |
104/105 Ahimsa Kutir, Chincholi Link Road, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Date of Birth/Age : |
27.12.1957 |
|
Date of Appointment : |
20.06.2011 |
|
DIN No.: |
03548598 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
NOTE: SHAREHOLDING AND ALLOTTEES DETAILS FILE ATTACHED
AS ON 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
25.78 |
|
Promoters – Body Corporate |
70.77 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
3.45 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Trading and Jobwork of Poly Pet Bottles,
Pet Preforums, Poly-Prothlene, P P Caps, and all types of Packing Materials. [Registered
Activity] |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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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 : |
Information declined by the management |
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Bankers : |
· Central Bank of India Chandermukhi Ground Floor, Barrister Rajani Patel Road, Nariman Point Mumbai – 400021, Maharashtra, India |
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Facilities : |
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Auditors : |
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|
Name : |
AMS and Company Chartered Accountants |
|
Address : |
F/97, Profit Centre, 1st Floor, Opposite Balaji Party, Mahavir Nagar,
Kandivali (W), Mumbai – 400067, Maharashtra, India |
|
PAN No.: |
AASFA3432A |
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|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
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|
Enterprises owned or significantly influenced by Key Management
Personnel and / or their Relative with whom the Company has entered into
transaction : |
· Ladderup Finance Limited · Ladderup Corporate Advisory Private Limited · Rajhans Traders Private Limited · Secure Quick Financial Services Private Limited |
|
|
|
|
Firm in which director is a partner : |
SGCO and Company LLP |
CAPITAL STRUCTURE
AFTER 30.09.2017
Authorised Capital : INR 43.500 Million
Issued, Subscribed & Paid-up Capital : INR 42.050
Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3650000 |
Equity Shares |
INR 10/- each |
INR 36.500 Million |
|
350000 |
Preference Shares |
INR 10/- each |
INR 3.500 Million |
|
|
|
|
|
|
|
Total |
|
INR 40.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3249000 |
Equity Shares |
INR 10/- each |
INR 32.490
Million |
|
239000 |
Preference Shares |
INR 10/- each |
INR 2.390
Million |
|
|
|
|
|
|
|
Total |
|
INR 34.880 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 |
34.880 |
12.672 |
11.713 |
|
(b) Reserves & Surplus |
119.266 |
76.655 |
64.438 |
|
(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) |
154.146 |
89.327 |
76.151 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
239.365 |
191.251 |
180.895 |
|
(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) |
239.365 |
191.251 |
180.895 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
98.769 |
78.499 |
80.184 |
|
(b)
Trade payables |
143.251 |
104.250 |
131.024 |
|
(c)
Other current liabilities |
48.038 |
44.314 |
31.428 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
290.058 |
227.063 |
242.636 |
|
|
|
|
|
|
TOTAL |
683.569 |
507.641 |
499.682 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
276.920 |
178.662 |
189.196 |
|
(ii)
Intangible Assets |
0.007 |
0.043 |
0.021 |
|
(iii)
Capital work-in-progress |
44.892 |
43.492 |
36.700 |
|
(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) |
9.474 |
6.282 |
3.282 |
|
(d) Long-term Loan
and Advances |
10.047 |
7.196 |
6.885 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
341.340 |
235.675 |
236.084 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
143.648 |
119.191 |
95.157 |
|
(c)
Trade receivables |
136.009 |
94.650 |
117.881 |
|
(d)
Cash and cash equivalents |
28.775 |
16.149 |
20.023 |
|
(e)
Short-term loans and advances |
9.946 |
16.192 |
29.634 |
|
(f)
Other current assets |
23.851 |
25.784 |
0.903 |
|
Total
Current Assets |
342.229 |
271.966 |
263.598 |
|
|
|
|
|
|
TOTAL |
683.569 |
507.641 |
499.682 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
648.041 |
529.429 |
439.994 |
|
|
|
Other Income |
2.985 |
3.999 |
2.824 |
|
|
|
TOTAL (A) |
651.026 |
533.428 |
442.818 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
510.887 |
414.564 |
276.431 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
87.241 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(13.855) |
(23.261) |
(8.477) |
|
|
|
Employees benefits expense |
19.035 |
16.810 |
14.344 |
|
|
|
Other expenses |
66.964 |
62.283 |
40.595 |
|
|
|
TOTAL (B) |
583.031 |
470.396 |
410.134 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
67.995 |
63.032 |
32.684 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
38.372 |
36.751 |
30.628 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
29.623 |
26.281 |
2.056 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
25.078 |
25.697 |
25.077 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
4.545 |
0.584 |
(23.021) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(3.194) |
(3.000) |
(0.755) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
7.739 |
3.584 |
(22.266) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings [FOB Basis] |
6.339 |
4.459 |
35.476 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
45.205 |
4.035 |
35.476 |
|
|
|
Components & Spare Parts |
2.155 |
0.355 |
0.000 |
|
|
|
Capital Goods |
54.411 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
101.771 |
4.390 |
35.476 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
|
|
|
|
|
Basic
|
4.16 |
3.42 |
(21.23) |
|
|
|
Diluted
|
4.05 |
3.33 |
(21.23) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
34.128 |
30.062 |
29.515 |
|
|
|
|
|
|
Cash generated from operations |
50.942 |
13.351 |
5.124 |
|
|
|
|
|
|
Net Cash inflow from/ (outflow) from Operating activities |
50.813 |
13.187 |
4.739 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
76.61 |
65.25 |
97.79 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.76 |
5.59 |
3.73 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
102.34 |
91.79 |
131.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.47 |
0.53 |
0.34 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.21 |
0.28 |
0.14 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.82 |
0.88 |
0.91 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.41 |
3.36 |
3.82 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.88 |
2.54 |
3.19 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.09 |
2.49 |
2.97 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.77 |
1.72 |
1.07 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.19 |
0.68 |
(5.06) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.13 |
0.71 |
(4.46) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.02 |
4.01 |
(29.24) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.18 |
1.20 |
1.09 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.68 |
0.67 |
0.69 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.23 |
0.18 |
0.15 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
10.67 |
23.66 |
24.81 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.18 |
1.20 |
1.09 |
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
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
11.713 |
12.672 |
34.880 |
|
Reserves & Surplus |
64.438 |
76.655 |
119.266 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
76.151 |
89.327 |
154.146 |
|
|
|
|
|
|
Long-term borrowings |
180.895 |
191.251 |
239.365 |
|
Short term borrowings |
80.184 |
78.499 |
98.769 |
|
Current Maturities of Long
term debt |
29.515 |
30.062 |
34.128 |
|
Total
borrowings |
290.594 |
299.812 |
372.262 |
|
Debt/Equity
ratio |
3.816 |
3.356 |
2.415 |
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 |
439.994 |
529.429 |
648.041 |
|
|
|
20.326 |
22.404 |
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 |
439.994 |
529.429 |
648.041 |
|
Profit/ (Loss) |
(22.266) |
3.584 |
7.739 |
|
|
-5.06% |
0.68% |
1.19% |
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 |
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C54185483 |
10570497 |
NEW INDIA CO-OP BANK LIMITED |
17/04/2015 |
- |
- |
10700000.0 |
CORPORATE OFFICE, NEW INDIA BHAVAN, A.V. NAGWEKARMARG, B. WORLIKAR CHOWK, PRABHADEVI,MUMBAIMH400025IN |
|
2 |
G38147211 |
10359004 |
CENTRAL BANK OF INDIA |
05/05/2012 |
27/02/2017 |
- |
432800000.0 |
CHANDERMUKHI GROUND FLOOR,BARRISTER RAJANI PATEL ROAD, NARIMAN POINTMUMBAIMH400021IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Inter Corporate Deposit [From Shareholder] |
30.344 |
0.000 |
|
Inter Corporate Deposit [From Others] |
42.829 |
70.279 |
|
SHORT TERM BORROWINGS |
|
|
|
From Directors and Relative |
0.000 |
0.500 |
|
|
|
|
|
Total |
73.173 |
70.779 |
STATE OF COMPANY’S
AFFAIRS:
The Company is engaged in the business of Trading, Manufacturing, job work of poly pet bottles, pet preforums, poly-prothlene, P P Caps, and all types of packing materials and to carry on business of manufacturing, Traders, processing, extrusioning, moulding, colouring, dipping, assembling, exporting, importing, buying, selling, dealing, as agents, distributors and dealers in plastic materials, products, substances, containers, packing and plastic pen materials, bottles, pipe and fittings, storage tanks made from plastic, plastic materials including polyethylene, cellulose, acetate moulding powder, polystyrene, PET polyvinyl chloride polycarbonate, polystyrene, PET polyvinyl chloride polycarbonate, polypropylene and copolymer epoxy resins composites, thermosetting, materials, polyol, isocynate of from other materials or combination of the same and to carry on the business of manufacturing, processing, assembling, exporting, importing, buying, selling, dealing as agent, distributors and dealers in Plastic Thermo ware Articles, plastic and wood composite profile, decorative strips made of plastic to be used by consumers, industrial Government for commercial and household purpose.
There has been no change in the business of the Company during the financial year ended 31st March, 2017.
The highlights of the Company’s performance are as compared to the previous financial year are as under:-
· The revenue from operations increased from INR 529.429 Million to INR 648.041 Million
· Net Profit for the year increased from INR 3.584 Million to INR 7.739 Million
· Earnings per share have increased from INR 3.42/- to INR 4.16/-
CONTINGENT
LIABILITIES: [AS ON 31.03.2017]
1. Outstanding Bank Guarantee INR 7.320 Million [Previous Year: INR 7.320 Million]
2. The Company has purchased Machinery and Moulds under the EPCG Scheme whereby it has obligation of exporting goods on FOB basis amounting to 6 times the Import duty saved within a period of 6 years. The amount of duty saved is INR 15.216 Million and hence the total liability for export commitment is INR 91.297 Million and out of this total export done till 31.03.2017 is INR 26.853 Million. Accordingly the pending export obligations as on this date is INR 64.445 Million [Previous Year: INR 85.266 Million].
3. Disputed Tax Liability: Income Tax INR 0.082 Million.
FIXED ASSETS:
· Freehold Land
· Factory Building
· Plant and Machinery
· Moulds and Ancillary
· Electrical Installations
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Air Conditioner
· Computer
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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
|
Indian Rupees |
|
US Dollar |
1 |
INR 68.20 |
|
UK Pound |
1 |
INR 89.58 |
|
Euro |
1 |
INR 78.79 |
INFORMATION DETAILS
|
Information Gathered
by : |
AKSH |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
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 |
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.