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MIRA INFORM REPORT
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Report No. : |
516352 |
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Report Date : |
22.06.2018 |
IDENTIFICATION DETAILS
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Name : |
ASTRAL
POLY TECHNIK LIMITED (w.e.f.29.09.2006) |
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Formerly Known
As : |
ASTRAL
POLY TECHNIK PRIVATE LIMITED |
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Registered
Office : |
“Astral House” 207/1, B/h. Rajpath Club, Off S. G. Highway, Ahmedabad - 380 059, Gujarat |
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Tel. No.: |
91-79-66212000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
25.03.1996 |
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CIN No.: [Company Identification
No.] |
L25200GJ1996PLC029134 |
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Capital
Investment / Paid-up Capital : |
INR 119.800 Million |
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IEC No.: |
0897008171 |
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PAN No.: [Permanent Account No.] |
AABCA2951N |
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GSTN : [Goods & Service Tax
Registration No.] |
24AABCA2951N1ZO 29AABCA2951N1ZE 37AABCA2951N1ZH 36AABCA2951N1ZJ 07AABCA2951N1ZK |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in the business of Manufacturing and
Marketing of PVC and CPVC plumbing system both for residential as well as
industrial applications and Lead Free PVC Plumbing Systems. [Registered
Activity and also Confirmed by management] |
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No. of Employees
: |
933 [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 |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Astral Poly Technik Limited was incorporated in the year 1996. It is engaged in manufacturing and marketing of PVC and CPVC Plumbing System both for Residential as well as Industrial Applications and Lead free PVC Plumbing Systems. For the financial year 2018, the company has achieved 9.14% growth in its revenue as compared to the previous year revenue and has maintained decent profitability margin of 7.39% during the year under review. The rating takes into consideration strong financial profile of the company marked by healthy networth base along with strong debt coverage indicators due to low debt balance sheet profile. The rating also takes into consideration the subject’s long established track record of the business operations along with extensive experience of its promoters. The company has its share price trading at around INR 1015.95 against the Face Value (FV) of INR 01 on BSE as on 21st June, 2018. However, these rating strengths are partially offset by company’s exposure to intense competition in the pipes and fittings segment and susceptibility of operating margin to volatility in raw material prices and foreign exchange (forex) rates. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered good for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long Term =AA- |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
20.09.2017 |
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Rating Agency Name |
CRISIL |
|
Rating |
Non fund based =A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
20.09.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 PARTED BY
|
Name : |
Mr. Jignesh |
|
Designation : |
Assistant Manager |
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Contact No.: |
91-79-66212000 |
|
Date : |
21.06.2018 |
LOCATIONS
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Registered/ Corporate Office : |
“Astral House” 207/1, B/h. Rajpath Club, Off S. G. Highway, Ahmedabad - 380059, Gujarat, India |
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Tel. No.: |
91-79-66212000 |
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Fax No.: |
91-79-66212121 |
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E-Mail : |
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Website : |
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Factory 1 : |
1206,1210,1212,1253 and 1264 Santej-Nasmed Road, Kalol – 382721,
Gujarat, India |
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Factory 2 : |
Village: Santej, Taluka: Kalol, District: Gandhinagar, Gujarat, India |
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Factory 3 : |
Dholka-Kheda Road, Rampur, Dholka, District: Ahmedabad, Gujarat, India |
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Factory 4 : |
Village: Bated, P.O. Barotiwala, District: Solan, Tehsil: Kasauli, Himachal Pradesh, India |
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Factory 5 : |
Perandaplli Post, Village-Alur, District-Krishnagiri, Hosur, Tamilnadu, India |
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Branch Office 1 : |
C 722, Atrium, 215, Andheri Kurla Road, Andheri [East], Mumbai-400059, Maharashtra, India |
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Branch Offices : |
Located at : ·
Bengaluru (Karnataka) ·
Chennai (Tamilnadu) ·
Hyderabad (Telangana) ·
Jaipur (Rajasthan) ·
Kochi (Kerala) ·
Lucknow (Uttar Pradesh) ·
New Delhi ·
Pune (Maharashtra) |
DIRECTORS
AS ON: 31.03.2018
|
Name : |
Mr. Sandeep Pravinbhai Engineer |
|
Designation : |
Managing Director |
|
Address : |
22, Rambaug FP No.712, Survey No.713/3, Near Springvalley B/H Karnavati Club, Mohmadpura Road, SG HI, Ahmedabad – 380058, Gujarat, India |
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Date of Birth/Age : |
11.05.1961 |
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Date of Appointment : |
25.03.1996 |
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DIN No.: |
00067112 |
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Name : |
Mrs. Jagruti Sandeep Engineer |
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Designation : |
Whole Time Director |
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Address : |
22, Rambaug, S. No.713/3, B/H Karnavati Club, SG Highway, Makarpura Ahmedabad – 380058, Gujarat, India |
|
Date of Birth/Age : |
15.07.1965 |
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Date of Appointment : |
25.03.1996 |
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DIN No.: |
00067276 |
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Name : |
Mr. Narasinh Krishna Balgi |
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Designation : |
Director |
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Address : |
B-401, Sumadhur-II, Near Azad Society, Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Appointment : |
28.01.2015 |
|
DIN No.: |
00163468 |
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|
Name : |
Mr. Kyle Anthony Thompson |
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Designation : |
Director |
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Address : |
102, Season Lane Ne, Huntsville AL 35811 US |
|
Date of Birth/Age : |
06.05.1971 |
|
Date of Appointment : |
01.12.1997 |
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DIN No.: |
00254002 |
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|
|
|
Name : |
Mr. Pradip Natvarlal Desai |
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Designation : |
Director |
|
Address : |
434//5, Suwas Bunglow, Law Garden Road, Ellisbridge, Ahmedabad – 380006, Gujarat, India |
|
Date of Appointment : |
23.09.2006 |
|
DIN No.: |
00336937 |
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|
|
|
Name : |
Mr. Katapadi Raghunath Shenoy |
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Designation : |
Director |
|
Address : |
Nalanda, 1st Cross Road, Chilimbi Hills, Manglore – 575006, Karnataka, India |
|
Date of Appointment : |
23.09.2006 |
|
DIN No.: |
00801985 |
|
|
|
|
Name : |
Mr. Anilkumar Jani |
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Designation : |
Director |
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Address : |
40/B, Yogeshwarnagar Society, Bhaththa Paldi, Ahmedabad – 380007, Gujarat, India |
|
Date of Appointment : |
28.01.2015 |
|
DIN No.: |
07078868 |
KEY EXECUTIVES
|
Name : |
Mr. Hiranand Asandas Savlani |
|
Designation : |
Chief Financial Officer |
|
Address : |
56, Sangini Bunglow, Near Avsar Party Plot, Thaltej, Ahmedabad – 380054, Gujarat, India |
|
Date of Appointment : |
18.07.2014 |
|
PAN No.: |
AEQPS9225K |
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|
|
|
Name : |
Mr. Krunal Devendrakumar Bhatt |
|
Designation : |
Company Secretary |
|
Address : |
J-7, Komal Enclave, PT Collage Road, Near Shantivan Cross Road, Paldi Ahmedabad – 380007, Gujarat, India |
|
Date of Appointment : |
02.02.2015 |
|
PAN No.: |
AHVPB4783F |
|
|
|
|
Name : |
Mr. Jignesh |
|
Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2018
|
Category of shareholder |
Total no. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter &
Promoter Group |
70065860 |
58.50 |
|
|
(B) Public |
49700705 |
41.50 |
|
|
Grand Total |
119766565 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated
as per SCRR, 1957)As a % of |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
46991660 |
39.24 |
|
|
SANDEEP PRAVINBHAI
ENGINEER |
37842460 |
31.60 |
|
|
JAGRUTI SANDEEP
ENGINEER |
9143410 |
7.63 |
|
|
HANSABEN PRAVINBHAI
ENGINEER |
5790 |
0.00 |
|
|
Any Other
(specify) |
17118430 |
14.29 |
|
|
SAUMYA POLYMERS
LLP |
14758170 |
12.32 |
|
|
KAIRAV CHEMICALS
LIMITED |
2360260 |
1.97 |
|
|
Sub Total A1 |
64110090 |
53.53 |
|
|
A2) Foreign |
0.00 |
||
|
Any Other
(specify) |
5955770 |
4.97 |
|
|
SPECIALTY PROCESS
LLC |
5955770 |
4.97 |
|
|
Sub Total A2 |
5955770 |
4.97 |
|
|
A=A1+A2 |
70065860 |
58.50 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR, 1957
As a % of |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
7669500 |
6.40 |
|
|
AXIS MUTUAL FUND
TRUSTEE LIMITED A/C AXIS MUTUAL FUND A/C AXIS LONG TERM EQUITY FUND |
2982006 |
2.49 |
|
|
UTI - EQUITY FUND |
2512405 |
2.10 |
|
|
Alternate
Investment Funds |
183297 |
0.15 |
|
|
Foreign Portfolio
Investors |
19175998 |
16.01 |
|
|
STEADVIEW CAPITAL
MAURITIUS LIMITED |
6650837 |
5.55 |
|
|
DF INTERNATIONAL
PARTNERS |
2745800 |
2.29 |
|
|
ABG CAPITAL |
2578823 |
2.15 |
|
|
LTR FOCUS FUND |
1999796 |
1.67 |
|
|
Financial
Institutions/ Banks |
12404 |
0.01 |
|
|
Any Other
(specify) |
4646574 |
3.88 |
|
|
FII |
4646574 |
3.88 |
|
|
TREE LINE ASIA
MASTER FUND (SINGAPORE) PTE LTD |
3630000 |
3.03 |
|
|
Sub Total B1 |
31687773 |
26.46 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0.00 |
||
|
B3)
Non-Institutions |
0.00 |
||
|
Individual share
capital upto INR 0.200 million |
10273328 |
8.58 |
|
|
Individual share
capital in excess of INR 0.200 million |
3696577 |
3.09 |
|
|
MITEN MEHTA |
1200000 |
1.00 |
|
|
VIJAY SURESH
PARIKH |
1400433 |
1.17 |
|
|
NBFCs registered
with RBI |
100 |
0.00 |
|
|
Any Other
(specify) |
4042927 |
3.38 |
|
|
Bodies Corporate |
3249353 |
2.71 |
|
|
Clearing Members |
67347 |
0.06 |
|
|
Foreign Portfolio Investor
(Category - III) |
450 |
0.00 |
|
|
Non-Resident
Indian (NRI) |
723602 |
0.60 |
|
|
Trusts |
495 |
0.00 |
|
|
IEPF |
1680 |
0.00 |
|
|
Sub Total B3 |
18012932 |
15.04 |
|
|
B=B1+B2+B3 |
49700705 |
41.50 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Manufacturing and
Marketing of PVC and CPVC plumbing system both for residential as well as
industrial applications and Lead Free PVC Plumbing Systems. [Registered
Activity and also Confirmed by management] |
|
|
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|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
|
|
Products : |
PVC and CPVC Plumbing System |
|
Countries : |
United States of America |
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|
|
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Imports : |
Not Divulged |
|
|
|
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Terms : |
|
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Selling : |
Cash, Advance Payment, L/C, Cheque and Others [RTGS] |
|
|
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Purchasing : |
Cash, Advance Payment, L/C, Cheque and Others [RTGS] |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Others [Distributors]
|
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No. of Employees : |
933 [Approximately] |
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Bankers : |
· Corporation Bank · HDFC Bank Limited · HSBC Bank · IDBI Bank Limited · IndusInd Bank ·
Standard Chartered Bank |
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Facilities : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
19th Floor, Shapath-V, S.G. Highway, Ahmedabad-380 015, Gujarat,
India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
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|
Subsidiary
Companies : [AS ON :31.03.2017] |
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|
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Enterprises over
which Key Managerial Personal are able to exercise significant influence : [AS ON :31.03.2017] |
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Joint Venture : [AS ON :31.03.2017] |
Astral Pipes Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2018
Authorised Capital: NOT AVAILABLE
Issued, Subscribed & Paid-up Capital: INR 119.800
Million
AS ON: 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
INR 1/- each |
INR 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
119766565 |
Equity Shares |
INR 1/- each |
INR 119.767
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
119.800 |
119.767 |
119.750 |
|
(b) Reserves & Surplus |
9368.200 |
8242.490 |
7202.087 |
|
(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 |
9488.000 |
8362.257 |
7321.837 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
733.500 |
985.051 |
1215.851 |
|
(b) Deferred tax liabilities (Net) |
288.000 |
261.576 |
214.911 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
4.900 |
4.279 |
3.172 |
|
Total
Non-current Liabilities |
1026.400 |
1250.906 |
1433.934 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
250.000 |
0.000 |
|
(b)
Trade payables |
2831.900 |
2458.816 |
2674.999 |
|
(c)
Other current liabilities |
957.800 |
842.174 |
811.510 |
|
(d)
Short-term provisions |
8.700 |
1.753 |
0.816 |
|
Total
Current Liabilities |
3798.400 |
3552.743 |
3487.325 |
|
|
|
|
|
|
TOTAL |
14312.800 |
13165.906 |
12243.096 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4471.900 |
4071.360 |
3588.749 |
|
(ii)
Intangible Assets |
14.600 |
19.978 |
22.791 |
|
(iii)
Capital work-in-progress |
646.700 |
172.524 |
80.682 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
3375.900 |
3359.085 |
3363.878 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
243.100 |
147.344 |
88.534 |
|
(e)
Other Non-current assets |
94.500 |
121.182 |
215.510 |
|
Total
Non-Current Assets |
8846.700 |
7891.473 |
7360.144 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2651.300 |
1964.291 |
2117.650 |
|
(c)
Trade receivables |
2211.800 |
2665.075 |
1807.288 |
|
(d)
Cash and cash equivalents |
382.300 |
148.626 |
456.127 |
|
(e)
Short-term loans and advances |
11.600 |
50.989 |
52.879 |
|
(f)
Other current assets |
209.100 |
399.871 |
449.008 |
|
Total
Current Assets |
5466.100 |
5228.852 |
4882.952 |
|
|
|
|
|
|
Assets classified
as held for sale |
0.000 |
45.581 |
0.000 |
|
|
|
|
|
|
TOTAL |
14312.800 |
13165.906 |
12243.096 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
16323.600 |
16481.260 |
14681.632 |
|
|
|
Excise duty on sale of goods |
226.600 |
1733.584 |
1501.512 |
|
|
|
Net Revenue from Operations |
16097.000 |
14747.676 |
13180.120 |
|
|
|
Other Income |
110.500 |
82.490 |
20.757 |
|
|
|
TOTAL |
16207.500 |
14830.166 |
13200.877 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
10262.000 |
9676.319 |
9130.192 |
|
|
|
Purchases of Stock-in-Trade |
772.400 |
772.804 |
807.476 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
-185.000 |
67.940 |
-267.127 |
|
|
|
Employees benefits expense |
531.100 |
415.055 |
338.590 |
|
|
|
Other expenses |
2350.300 |
1745.473 |
1513.329 |
|
|
|
Exceptional Items |
29.600 |
0.000 |
8.311 |
|
|
|
TOTAL |
13760.400 |
12677.591 |
11530.771 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2447.100 |
2152.575 |
1670.106 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
174.000 |
142.956 |
276.377 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2273.100 |
2009.619 |
1393.729 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
466.600 |
417.28 |
354.359 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1806.500 |
1592.339 |
1039.370 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
616.300 |
526.066 |
310.883 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1190.200 |
1066.273 |
728.487 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
105.755 |
122.478 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
9.94 |
8.90 |
6.12 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term borrowings |
NA |
486.795 |
488.670 |
|
|
|
|
|
|
Cash generated from operations |
NA |
1293.275 |
2083.608 |
|
|
|
|
|
|
Net cash generated by operating activities |
NA |
872.539 |
1863.524 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
50.15 |
65.96 |
50.05 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.28 |
5.53 |
7.29 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
93.67 |
85.89 |
98.25 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.92 |
1.10 |
0.79 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.48 |
0.50 |
0.45 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.32 |
0.34 |
0.38 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.08 |
0.15 |
0.17 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.40 |
0.42 |
0.48 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.54 |
0.51 |
0.50 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
14.06 |
15.06 |
6.04 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
7.39 |
7.23 |
5.53 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
8.32 |
8.10 |
5.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
12.54 |
12.75 |
9.95 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.44 |
1.47 |
1.40 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.74 |
0.92 |
0.79 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.66 |
0.64 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
6.12 |
10.31 |
10.15 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.44 |
1.47 |
1.40 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 1.00/- |
|
|
|
|
Market Value |
INR 1015.95/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
119.750 |
119.767 |
119.800 |
|
Reserves & Surplus |
7202.087 |
8242.490 |
9368.200 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
7321.837 |
8362.257 |
9488.000 |
|
|
|
|
|
|
long-term borrowings |
1215.851 |
985.051 |
733.500 |
|
Short term borrowings |
0.000 |
250.000 |
0.000 |
|
Total
borrowings |
1215.851 |
1235.051 |
733.500 |
|
Debt/Equity
ratio |
0.166 |
0.148 |
0.077 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
13180.120 |
14747.676 |
16097.000 |
|
|
|
11.893 |
9.149 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
13180.120 |
14747.676 |
16097.000 |
|
Profit/ (Loss) |
728.487 |
1066.273 |
1190.200 |
|
|
5.53% |
7.23% |
7.39% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2018 |
31.03.2017 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
119.800 |
119.767 |
|
(b) Reserves & Surplus |
|
10062.600 |
8348.695 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Minority Interest |
|
0.000 |
122.656 |
|
Non-controlling
Interest |
|
135.100 |
0.000 |
|
Total
Shareholders’ Funds |
|
10317.500 |
8591.118 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
1174.100 |
1219.115 |
|
(b) Deferred tax liabilities (Net) |
|
330.600 |
279.568 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
16.300 |
11.068 |
|
Total
Non-current Liabilities |
|
1521.000 |
1509.751 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
55.800 |
350.000 |
|
(b)
Trade payables |
|
3490.800 |
2930.899 |
|
(c)
Other current liabilities |
|
1348.600 |
1224.780 |
|
(d)
Short-term provisions |
|
17.300 |
9.803 |
|
Total
Current Liabilities |
|
4912.500 |
4515.482 |
|
|
|
|
|
|
TOTAL |
|
16751.000 |
14616.351 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
6054.700 |
5070.350 |
|
(ii)
Intangible Assets |
|
22.800 |
20.200 |
|
(iii)
Capital work-in-progress |
|
731.300 |
249.825 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
Goodwill |
|
2347.300 |
2321.493 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.700 |
16.440 |
|
(d) Long-term Loan
and Advances |
|
56.700 |
14.237 |
|
(e)
Other Non-current assets |
|
108.000 |
173.159 |
|
Total
Non-Current Assets |
|
9321.500 |
7865.704 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current
investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
3572.400 |
2720.995 |
|
(c)
Trade receivables |
|
3067.200 |
3386.203 |
|
(d)
Cash and cash equivalents |
|
436.600 |
165.704 |
|
(e)
Short-term loans and advances |
|
2.800 |
2.776 |
|
(f)
Other current assets |
|
350.500 |
429.388 |
|
Total
Current Assets |
|
7429.500 |
6705.066 |
|
|
|
|
|
|
Assets classified
as held for sale |
|
0.000 |
45.581 |
|
|
|
|
|
|
TOTAL |
|
16751.000 |
14616.351 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
21388.700 |
21234.922 |
|
|
|
Other Income |
|
126.800 |
91.235 |
|
|
|
TOTAL |
|
21515.500 |
21326.157 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
13567.000 |
12658.787 |
|
|
|
Purchases of Stock-in-Trade |
|
453.800 |
403.099 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(187.100) |
(26.982) |
|
|
|
Employees benefits expense |
|
1064.900 |
886.618 |
|
|
|
Other expenses |
|
2993.500 |
2328.804 |
|
|
|
Share of loss of joint venture |
|
0.000 |
26.202 |
|
|
|
Exceptional items |
|
26.700 |
9.839 |
|
|
|
Excise duty on sale of goods |
|
328.600 |
2346.464 |
|
|
|
TOTAL |
|
18247.400 |
18632.831 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
3268.100 |
2693.326 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
215.800 |
183.995 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3052.300 |
2509.331 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
571.300 |
502.017 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
2481.000 |
2007.314 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
724.500 |
561.574 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
1756.500 |
1445.740 |
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
14.62 |
12.08 |
|
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) |
Yes |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
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 |
G34813642 |
100023369 |
THE
HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
02/04/2016 |
29/12/2016 |
- |
725000000.0 |
OFFICE
NO 35-47 MARDIA PLAZAUPPER LEVEL CG ROADAHMEDABADGJ380006IN |
|
2 |
G33573023 |
10549636 |
THE
HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
24/01/2015 |
27/12/2016 |
- |
200000000.0 |
OFFICE
NO 35-47 MARDLA PLAZAUPPER LEVEL CG ROADAHMEDABADGJ380006IN |
|
3 |
G33958224 |
10550144 |
HSBC
BANK (MAURITIUS) LIMITED |
24/01/2015 |
27/12/2016 |
- |
544477500.0 |
6TH
FLOOR, HSBC CENTRE, 18 CYBER CITYEBENE, MAURITIUSCYBER CITYNA72201MU |
|
4 |
G33573510 |
10435959 |
INDUSIND
BANK LTD. |
02/07/2013 |
27/12/2016 |
- |
620000000.0 |
2401
GEN THIMMAYYA ROADCONTONMENTPUNEMA411001IN |
|
5 |
G33966342 |
10308431 |
IDBI
TRUSTEESHIP SERVICES LIMITED |
13/09/2011 |
27/12/2016 |
- |
589280000.0 |
ASIAN
BLDG., GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAIMH400001IN |
|
6 |
G33640798 |
10201480 |
IDBI
BANK LIMITED |
08/02/2010 |
27/12/2016 |
- |
300000000.0 |
IDBI
COMPLEX, OPP.MUNCIPAL STAFF QUARTERS,NEAR LAL BUNGLOW, OFF
C.G.ROAD,AHMEDABADGJ380006IN |
|
7 |
G33957200 |
10091244 |
STANDARD
CHARTERED BANK |
03/03/2008 |
27/12/2016 |
- |
300000000.0 |
ABHIJEET
II GROUND FLOORNEAR MITHAKHALI SIX ROADSAHMEDABADGJ380006IN |
|
8 |
G33721507 |
90110450 |
CORPORATION
BANK |
11/07/2002 |
27/12/2016 |
- |
1856000000.0 |
CORPORATE
BANKING BRANCH1ST FLOOR RANGOLI COMPLEX, OPP. V S HOSPITALAHMEDABADGJ380006IN |
|
9 |
G01617026 |
10277794 |
STANDARD CHARTERED BANK |
10/03/2011 |
02/07/2013 |
18/04/2016 |
207865000.0 |
ABHIJEET II, GROUND FLOORNEAR MITHAKALI SIX ROAD,AHMEDABADGJ380006IN |
|
10 |
B76687573 |
10091243 |
STANDARD CHARTERED BANK |
03/03/2008 |
15/01/2013 |
21/05/2013 |
64700000.0 |
ABHIJEET II GROUND FLOORNEAR MITHAKALI SIX ROADSAHMEDABADGJ380006IN |
|
11 |
G34813642 |
100023369 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
02/04/2016 |
29/12/2016 |
- |
725000000.0 |
OFFICE NO 35-47 MARDIA PLAZAUPPER LEVEL CG ROADAHMEDABADGJ380006IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2018 (INR
In Million) |
31.03.2017 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Buyers Credit |
NA |
26.391 |
|
|
|
|
|
Total |
NA |
26.391 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2018 (INR
In Million) |
31.03.2017 (INR
In Million) |
|
Letters of Credits for Purchases |
NA |
379.608 |
|
Central Sales Tax under appeal * |
NA |
0.734 |
|
Guarantee given by Company on behalf of Joint Venture and
Subsidiary company for availing borrowing from local Bank |
NA |
656.227 |
* Future cash outflows in respect of the above matters are determined only on receipt of judgments / decisions pending at various forums / authorities
COMPANY
OVERVIEW:- [AS ON: 31.03.2017]
The Company was established in 1996, to manufacture and market the most advanced CPVC plumbing system for the first time in India. Astral today manufactures CPVC plumbing systems for both residential as well as industrial applications and lead free PVC plumbing system. Astral is equipped with state-of-the-art three production facilities two at Gujarat and one at Tamilnadu states in India to manufacture plumbing systems from ˝” to 12" and drainage systems with all kinds of necessary fittings.
FIXED ASSETS: [AS
ON: 31.03.2017]
·
Land
· Buildings
· Plant and Equipments
· Furniture and Fixtures
· Vehicles
· Computers
· Office Equipments
· Computer software
· Goodwill
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
|
INR |
|
US Dollar |
1 |
INR 68.20 |
|
UK Pound |
1 |
INR 89.58 |
|
Euro |
1 |
INR 78.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHI |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
RUP |
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 |
YES |
|
--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.