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|
|
MIRA INFORM REPORT
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Report No. : |
516181 |
|
Report Date : |
22.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
CMI LIMITED (w.e.f. 15.06.1988) |
|
|
|
|
Formerly Known
As : |
CMI PRIVATE LIMITED (w.e.f. 07.11.1985) CHOUDHARI METAL INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
Flat No. 501 - 503, 5th Floor, New Delhi House, 27 Barakhamba
Road, New Delhi - 110 001 |
|
Tel. No.: |
91-11-49570000 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2018 |
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|
|
Date of
Incorporation : |
22.06.1967 |
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|
CIN No.: [Company Identification
No.] |
L74899DL1967PLC018031 |
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Capital
Investment / Paid-up Capital : |
INR 150.307 Million |
|
|
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IEC No.: [Import-Export Code No.] |
0588125105 |
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|
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PAN No.: [Permanent Account No.] |
AAACC2156L |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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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 cables for various industries including Railways, Oil and Gas, Telecommunications, Energy, Industrial, Power, Petrochemicals, etc. (Registered Activity) |
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|
|
|
No. of Employees
: (As on 2017) |
122 (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
CMI Limited was incorporated in 1967. The company is engaged in the manufacturing of cables which find applications across industries viz. railways, utilities, oil and gas, refineries and petrochemical industries. The products range of the company includes signaling, instrumentation, control, power, telecommunication cables etc. It is an established company having fine track record. For the financial year ended 2018, the company has witnessed a growth
in its revenue and has achieved fair profit margin at 5.97% (approximately). The company possesses sound financial profile marked by healthy
networth base along with comfortable debt level and favorable gap between
trade payables to its trade receivables. The company also derives strength from its long established track
record of business operations. Trade relations are reported as fair. Business is active. Payment
terms are seems to be regular and as per commitments. In view of the 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 (31.12.2017) |
Current Rating (01.04.2018) |
|
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 = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
26.09.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
26.09.2017 |
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 DENIED BY
|
Name : |
Mr. Subodh Kumar Barnwal |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-9911807009 |
(Tel No.:91-11-49570000 / 91-129-4262707)
LOCATIONS
|
Registered Office : |
Flat No. 501 - 503, 5th Floor, New Delhi House, 27 Barakhamba Road, New Delhi – 110001, India |
|
Tel. No.: |
91-11-49570000 |
|
Mobile No.: |
91-9911807009 (Mr. Subodh Kumar Barnwal) |
|
Fax No.: |
91-11-23739902 |
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E-Mail : |
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|
Website : |
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Plant Address |
Plot No. 71 and 82, Sector - 6, Faridabad - 121006, Haryana, India |
|
Tel. No.: |
91-129-4262707 |
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Fax No.: |
91-129-2242686/4262707 |
|
Location : |
Owned |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Amit Jain |
|
Designation : |
Managing Director |
|
Address : |
C - 483, Yojna Vihar, New Delhi – 110092, India |
|
Date of Birth/Age : |
15.10.1973 |
|
Date of Appointment : |
01.10.2002 |
|
DIN No.: |
00041300 |
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|
|
|
Name : |
Mr. Vijay Kumar Gupta |
|
Designation : |
Whole-time Director |
|
Address : |
C181, Vivek Vihar, New Delhi – 110095, India |
|
Date of Birth/Age : |
15.12.1949 |
|
Date of Appointment : |
15.01.2009 |
|
DIN No.: |
00995523 |
|
|
|
|
Name : |
Mr. Manoj Bishan Mittal |
|
Designation : |
Director |
|
Address : |
501 A, The Capital, G- Block, Bandra Kurla Complex, Behind ICICI Bank, Plot No.C 70, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Date of Appointment : |
29.07.2016 |
|
DIN No.: |
00282676 |
|
|
|
|
Name : |
Mr. Kishor Punamchand Ostwal |
|
Designation : |
Director |
|
Address : |
A/120, 1st Floor, Gokul Arcade, Sahar Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India |
|
Date of Appointment : |
29.07.2016 |
|
DIN No.: |
00460257 |
|
|
|
|
Name : |
Mrs. Archana Bansal |
|
Designation : |
Director |
|
Address : |
D-327, First Floor, Anand Vihar, Delhi – 110092, India |
|
Date of Birth/Age : |
07.09.1973 |
|
Date of Appointment : |
01.05.2015 |
|
DIN No.: |
01129623 |
|
|
|
|
Name : |
Mr. Pyare Lal Khanna |
|
Designation : |
Director |
|
Address : |
A-41, Vivek Vihar, Phase-II, Delhi – 110095, India |
|
Date of Birth/Age : |
13.08.1948 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
02237272 |
|
|
|
|
Name : |
Mr. Ramesh Chand |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Rattan Lal Aggarwal |
|
Designation : |
Chief Financial Officer |
|
Address : |
61, Second Floor, Engineers Enclave, Pitam Pura, New Delhi – 110034, India |
|
Date of Appointment : |
05.12.2016 |
|
PAN No.: |
AGFPA3347P |
|
|
|
|
Name : |
Mr. Subodh Kumar Barnwal |
|
Designation : |
Company Secretary |
|
Address : |
C-267, Pandav Nagar, New Delhi – 110092, India |
|
Date of Appointment : |
01.08.2010 |
|
PAN No.: |
AYJPK4556E |
|
|
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|
Audit Committee : (As on 2017) |
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|
|
|
|
Nomination and Remuneration Committee : (As on 2017) |
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|
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Stake Holder Relationship
Committee : (As on 2017) |
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|
|
|
|
Corporate Social Responsibility Committee : (As on 2017) |
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MAJOR SHAREHOLDERS
As on 31.03.2018
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % |
|
|
(A) Promoter & Promoter Group |
6543877 |
43.55 |
|
|
(B) Public |
8483580 |
56.45 |
|
|
Grand Total |
15027457 |
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 |
|
||
|
Individuals/Hindu undivided Family |
65 43 877 |
43.55 |
|
|
Amit Jain |
50 93 877 |
33.90 |
|
|
Dhruv Jain |
5 00 000 |
3.33 |
|
|
Himani Jain |
2 50 000 |
1.66 |
|
|
Vishwa Prabha Jain |
7 00 000 |
4.66 |
|
|
Sub Total A1 |
65 43 877 |
43.55 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
65 43 877 |
43.55 |
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 % |
|
|
B1) Institutions |
|||
|
Mutual Funds/ |
582871 |
3.88 |
|
|
Hsbc Small Cap Equity Fund |
582871 |
3.88 |
|
|
Foreign Portfolio Investors |
1759581 |
11.71 |
|
|
Gmo Emerging Domestic Opportunities Fund, A
Series Of Gmo Trust |
1206095 |
8.03 |
|
|
Gmo Emerging Markets Fund, A Series Of Gmo
Trust |
293346 |
1.95 |
|
|
Financial Institutions/ Banks |
8502 |
0.06 |
|
|
Sub Total B1 |
2350954 |
15.64 |
|
|
B2) Central Government/ State
Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200
million |
2766451 |
18.41 |
|
|
Individual share capital in excess of INR
0.200 million |
945695 |
6.29 |
|
|
Pulkit.n.sekhsaria |
155000 |
1.03 |
|
|
Any Other (specify) |
2420480 |
16.11 |
|
|
Cni Research Limited |
300000 |
2.00 |
|
|
Trusts |
350 |
0.00 |
|
|
Clearing Members |
12838 |
0.09 |
|
|
Prashant Omprakash Kothari |
227500 |
1.51 |
|
|
Sub Total B3 |
6132626 |
40.81 |
|
|
B=B1+B2+B3 |
8483580 |
56.45 |
BUSINESS DETAILS
|
Line of Business : (As on 2017) |
Subject is engaged in the business of manufacturing cables for various industries including Railways, Oil and Gas, Telecommunications, Energy, Industrial, Power, Petrochemicals, etc. (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
122 (Approximately) |
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Bankers : |
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Facilities : |
|
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Auditors : |
|
|
Name: |
J. K. Manocha and Associates Chartered Accountants |
|
Address : |
27/55, Street No. 8, Vishwas Nagar, Shahdara, Delhi -
110032, India |
|
Tel. No.: |
91-11-22389025/22385078 |
|
E-Mail : |
|
|
|
|
|
Statutory Auditors Name: |
Krishna Neeraj and associates Chartered Accountants |
|
Address : |
HNo.54, Rajendra Place, New Delhi-110008, India |
|
|
|
|
Internal Auditor of
the Company: |
Raj Kumar |
|
|
|
|
Secretarial Auditor
of the Company: |
Pooja and Associates Practicing Company Secretaries |
|
Address : |
101,SitaRamMansion,718/21,JoshiRoad,KarolBagh, New Delhi-110005, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Parties in which the
Key Managerial Personnel/Directors of the Company are interested: |
|
CAPITAL STRUCTURE
As on 31.03.2018
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR
150.307 Million
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
INR 10/- each |
INR 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14777457 |
Equity Shares |
INR 10/- each |
INR 147.775
Million |
|
|
Add: Forfeited Shares - Amount Originally Paid up |
|
INR 0.032
Million |
|
|
Total |
|
INR 147.807 Million |
The details of
Shareholders holding more than 5% shares:
|
Particulars |
As At 31.03.2017 |
|
|
Name of the
Shareholder |
No. of Shares |
% of Held |
|
Amit Jain |
5093877 |
34.47 |
|
GMO Emerging Domestic Opportunities Fund |
1178365 |
7.97 |
The reconciliation of
the number of shares outstanding is set out below:
|
Name of
Shareholders |
As At 31.03.2017 |
|
Particulars |
No. of Shares held |
|
Equity
shares at the beginning of the year |
14077457 |
|
Add:
Shares issued on exercise of preferential allotment during the year |
700 000 |
|
Equity
shares at the end of the year |
14777457 |
Terms & rights attached to Equity shares
The Company has issued only one class of shares, i.e. equity shares of face value of INR 10/-each. All Equity Shareholders are entitled to one vote per share.
In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in the proportion to their shareholdings.
a. The Company has not issued any bonus shares in the last five years.
b. The Company has not bought back any share in the last five years.
c. The Company has not issued share other than cash in the last five years.
FINANCIAL DATA
[all figures are
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 |
150.307 |
147.807 |
140.807 |
|
(b) Reserves & Surplus |
1192.281 |
833.818 |
637.198 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
11.200 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1342.588 |
981.625 |
789.205 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
80.971 |
88.270 |
540.832 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
2.680 |
0.000 |
|
(c) Other long term
liabilities |
30.240 |
12.320 |
84.940 |
|
(d) long-term
provisions |
6.454 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
117.665 |
103.270 |
625.772 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1324.610 |
590.709 |
326.221 |
|
(b) Trade
payables |
643.018 |
695.546 |
349.723 |
|
(c) Other
current liabilities |
398.476 |
183.817 |
71.766 |
|
(d) Short-term
provisions |
4.307 |
109.907 |
89.396 |
|
Total Current
Liabilities (4) |
2370.411 |
1579.979 |
837.106 |
|
|
|
|
|
|
TOTAL |
3830.664 |
2664.874 |
2252.083 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
104.682 |
166.741 |
162.594 |
|
(ii)
Intangible Assets |
1.642 |
3.373 |
5.105 |
|
(iii)
Capital work-in-progress |
0.000 |
23.518 |
22.087 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
217.136 |
4.883 |
4.883 |
|
(c) Deferred tax assets (net) |
15.171 |
0.000 |
19.661 |
|
(d) Long-term Loan and Advances |
465.333 |
495.545 |
977.110 |
|
(e) Other
Non-current assets |
3.866 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
807.830 |
694.060 |
1191.440 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
879.310 |
658.686 |
451.310 |
|
(c) Trade
receivables |
1349.402 |
936.564 |
495.262 |
|
(d) Cash
and cash equivalents |
101.932 |
78.505 |
49.827 |
|
(e)
Short-term loans and advances |
489.408 |
295.371 |
61.775 |
|
(f) Other
current assets |
202.782 |
1.688 |
2.469 |
|
Total
Current Assets |
3022.834 |
1970.814 |
1060.643 |
|
|
|
|
|
|
TOTAL |
3830.664 |
2664.874 |
2252.083 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
3834.702 |
3072.320 |
2402.220 |
|
|
Other Income |
73.987 |
22.327 |
14.834 |
|
|
TOTAL |
3908.689 |
3094.647 |
2417.054 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2797.579 |
2452.550 |
1964.760 |
|
|
Purchases of
Stock-in-Trade |
380.142 |
105.999 |
2.424 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(103.133) |
(124.562) |
(54.759) |
|
|
Employees benefits
expense |
47.862 |
42.313 |
30.712 |
|
|
Other expenses |
209.584 |
164.962 |
132.214 |
|
|
Exceptional item |
0.000 |
(0.073) |
(0.558) |
|
|
TOTAL |
3332.034 |
2641.189 |
2074.793 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
576.655 |
453.458 |
342.261 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
207.022 |
131.297 |
84.286 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
369.633 |
322.161 |
257.975 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.005 |
13.388 |
12.790 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
355.628 |
308.773 |
245.185 |
|
|
|
|
|
|
|
Less |
TAX |
126.558 |
107.939 |
75.225 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
229.070 |
200.834 |
169.960 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
438.713 |
279.893 |
126.034 |
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
Income/Deferred Tax
relating to earlier years |
|
24.228 |
0.000 |
|
|
Interim Dividend |
|
0.000 |
13.377 |
|
|
Proposed Dividend |
|
14.777 |
0.000 |
|
|
Dividend Distribution Tax |
|
3.009 |
2.724 |
|
|
Total |
|
42.014 |
16.101 |
|
|
|
NA |
|
|
|
|
Balance Carried to the
B/S |
|
438.713 |
279.893 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
6.315 |
27.772 |
|
|
|
|
|
|
|
|
|
CIF Value of Imports |
321.867 |
361.954 |
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|||
|
Basic |
15.23 |
13.83 |
13.39 |
|
|
Diluted |
15.23 |
13.77 |
13.10 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
14.375 |
32.331 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
(74.260) |
182.251 |
|
Net cash flows from (used in) operating activity |
NA |
(74.260) |
182.251 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
128.44 |
111.27 |
75.25 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.84 |
3.28 |
4.85 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
73.86 |
99.23 |
64.89 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.66 |
0.69 |
0.76 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
5.42 |
2.34 |
1.80 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.64 |
0.63 |
0.63 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.05 |
0.71 |
1.14 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.77 |
1.61 |
1.06 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.08 |
0.20 |
0.24 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.79 |
3.45 |
4.06 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
5.97 |
6.54 |
7.08 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.98 |
7.54 |
7.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
17.06 |
20.46 |
21.54 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.28 |
1.25 |
1.27 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.90 |
0.83 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.35 |
0.37 |
0.35 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
9.35 |
4.69 |
6.39 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.28 |
1.25 |
1.27 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
Market Value |
INR 244 |
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 |
140.807 |
147.807 |
150.307 |
|
Reserves & Surplus |
637.198 |
833.818 |
1192.281 |
|
Money received against share
warrants |
11.200 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
789.205 |
981.625 |
1342.588 |
|
|
|
|
|
|
long-term borrowings |
540.832 |
88.270 |
80.971 |
|
Short term borrowings |
326.221 |
590.709 |
1324.610 |
|
Total
borrowings |
867.053 |
678.979 |
1405.581 |
|
Debt/Equity
ratio |
1.099 |
0.692 |
1.047 |
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 |
2402.220 |
3072.320 |
3834.702 |
|
|
|
27.895 |
24.815 |
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 |
2402.220 |
3072.320 |
3834.702 |
|
Profit |
169.960 |
200.834 |
229.070 |
|
|
7.08% |
6.54% |
5.97% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2018 |
31.03.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
150.307 |
147.807 |
|
(b) Reserves &
Surplus |
|
2231.070 |
1898.007 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
2381.377 |
2045.814 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
446.919 |
507.223 |
|
(b) Deferred tax
liabilities (Net) |
|
3.594 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
12.320 |
|
(d) long-term provisions |
|
6.684 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
457.197 |
519.543 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1656.665 |
799.195 |
|
(b) Trade payables |
|
909.171 |
1021.782 |
|
(c) Other current
liabilities |
|
524.285 |
273.563 |
|
(d) Short-term provisions |
|
4.326 |
109.907 |
|
Total Current Liabilities
(4) |
|
3094.447 |
2204.447 |
|
|
|
|
|
|
TOTAL |
|
5933.021 |
4769.804 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1499.582 |
1618.016 |
|
(ii) Intangible Assets |
|
9.405 |
19.096 |
|
(iii) Capital
work-in-progress |
|
42.220 |
49.074 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
94.581 |
0.005 |
|
(c) Deferred tax assets
(net) |
|
163.708 |
179.385 |
|
(d) Long-term Loan and Advances |
|
9.703 |
27.940 |
|
(e) Other Non-current
assets |
|
78.697 |
0.000 |
|
Total Non-Current Assets |
|
1897.896 |
1893.516 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1275.649 |
1004.427 |
|
(c) Trade receivables |
|
2267.261 |
1410.351 |
|
(d) Cash and cash
equivalents |
|
122.088 |
87.984 |
|
(e) Short-term loans and
advances |
|
8.887 |
370.844 |
|
(f) Other current assets |
|
361.240 |
2.682 |
|
Total Current Assets |
|
4035.125 |
2876.288 |
|
|
|
|
|
|
TOTAL |
|
5933.021 |
4769.804 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
5600.599 |
3778.740 |
|
|
Other Income |
|
29.596 |
48.196 |
|
|
TOTAL |
|
5630.195 |
3826.936 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
4383.840 |
3238.986 |
|
|
Purchases of
Stock-in-Trade |
|
43.187 |
46.583 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(84.992) |
(373.645) |
|
|
Employees benefits
expense |
|
157.954 |
114.589 |
|
|
Other expenses |
|
341.999 |
266.873 |
|
|
Exceptional Item |
|
0.000 |
(0.072) |
|
|
TOTAL |
|
4841.988 |
3293.314 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
788.207 |
533.622 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
289.581 |
205.668 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
498.626 |
327.954 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
104.823 |
101.332 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
393.803 |
226.622 |
|
|
|
|
|
|
|
Less |
TAX |
|
135.751 |
(74.126) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
258.052 |
300.748 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
Basic |
|
17.17 |
20.61 |
|
|
Diluted |
|
17.17 |
20.51 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
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 |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULAR |
31.03.2018 (INR
in Million) |
31.03.2017 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
From Banks and Financial Institutions |
|
3.746 |
|
|
|
|
|
Total |
NA |
3.746 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G61457578 |
100132993 |
INDUSIND BANK LTD. |
11/10/2017 |
- |
- |
300000000.0 |
2401 GEN THIMMAYYA ROAD CONTONMENT PUNE-411001 MAHARASHTRA INDIA |
|
2 |
G72343197 |
100143568 |
HDFC BANK LIMITED |
04/09/2017 |
- |
- |
7979000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI-400013 MAHARASHTRA INDIA |
|
3 |
G77551968 |
100174114 |
HERO FINCORP LIMITED |
12/08/2017 |
- |
- |
200000000.0 |
34, COMMUNITY CENTRE, BASANT LOKVASANT VIHARNEW DELHI-110057 MAHARASHTRA INDIA |
|
4 |
G58207846 |
100118902 |
YES BANK LIMITED |
28/07/2017 |
27/09/2017 |
- |
300000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BASANT ROAD, WORLI, MUMBAI-400018 MAHARASHTRA INDIA |
|
5 |
G50137892 |
100115078 |
BAJAJ FINANCE LIMITED |
01/07/2017 |
- |
- |
150000000.0 |
AKURDI PUNE-PUNE—411035 MAHARASHTRA INDIA |
|
6 |
G48679203 |
100110587 |
RBL BANK LIMITED |
30/06/2017 |
- |
- |
300000000.0 |
SHAHUPURI,KOLHAPUR, KOLHAPUR-416001 MAHARASHTRA INDIA |
|
7 |
G36789139 |
100079434 |
Syndicate Bank |
07/02/2017 |
- |
- |
1000000.0 |
PARSAVANATH METRO TOWER, OPP. METRO STATION,SHAHDARA, DELHI-110032 INDIA |
|
8 |
G36789220 |
100079435 |
Syndicate Bank |
07/02/2017 |
- |
- |
900000.0 |
PARSAVANATH METRO TOWER, OPP. METRO STATION,SHAHDARA,DELHIDL110032IN |
|
9 |
G16952301 |
100055940 |
EDELWEISS RETAIL FINANCE LIMITED |
27/09/2016 |
- |
- |
40000000.0 |
EDELWEISS HOUSE, OFF. C.S.T ROAD,KALINA MUMBAI-400098 MAHARASHTRA INDIA |
|
10 |
C64303597 |
10591145 |
KOTAK MAHINDRA BANK LIMITED |
21/08/2015 |
- |
- |
50175000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI-400051 MAHARASHTRA INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
|
|
|
306.168 |
|
Pending suit in court filed by parties for alleged demand for recovery. |
|
6.436 |
|
Outstanding Bills Discounted. |
NA |
195.502 |
|
TDS Liability Outstanding. |
|
0.065 |
|
Corporate Guarantee. |
|
678.810 |
FIXED ASSETS
- Land –Freehold
- Factory Buildings
- Office Building
- Leasehold Improvement
- Plant and Equipment
- Furniture & Fixture
- Office Equipment’s
- Vehicles
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 68.08 |
|
UK Pound |
1 |
INR 89.59 |
|
Euro |
1 |
INR 78.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
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.