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|
|
MIRA INFORM REPORT
|
Report No. : |
516503 |
|
Report Date : |
22.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
THERMOTECH SYSTEMS LIMITED |
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|
|
|
Registered
Office : |
Plot No. 2607-2608, Phase - 4, G.I.D.C., Vatva, Ahmedabad-382445, Gujarat |
|
Mob. No.: |
91-79-25840233/ 25842387 |
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|
|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2017 |
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|
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Date of
Incorporation : |
04.07.1995 |
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|
|
|
CIN No.: [Company Identification
No.] |
U26933GJ1995PLC026596 |
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|
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Capital
Investment / Paid-up Capital : |
INR 12.815 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0895008505 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT4509Q |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
24AAACT4509Q1Z2 |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
Manufacturer, Exporter and Importer of engineering goods such as Process Heating Equipment’s, Thermopac, Steam Boiler, Thermic Fluid Heater - Liquid / Gas Fuel Fired, Thermic Fluid Heater - Solid Fuel Fired, Hot Water Generator etc. (Registered activity and also confirmed by management) |
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|
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
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 1995 and it is a manufacturer, exporter and importer of engineering goods such as heat processing equipment like solid fired thermic fluid heater, gas fired hot water generator, 3 pass thermic fluid heater and 3 pass oil fired hot air generator. As per the financials of March 2017, the company has registered a decline in its revenue as compared to its previous year’s revenue and has reported average profit margin of 1.04% Rating takes into consideration the company’s established track record of business operations marked by sound net worth base along with comfortable debt coverage indicators and decent liquidity position. 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.
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 (GENERAL DETAILS)
|
Name : |
Mr. Rakeshbhai |
|
Designation : |
Director |
|
Contact No.: |
91-9824037271 |
|
Date : |
21.06.2018 |
LOCATIONS
|
Registered Office/Factory /Corporate Office: |
Plot No. 2607- 2608, Phase - 4, G.I.D.C., Vatva, Ahmedabad-382445, Gujarat, India |
|
Tel. No.: |
91-79-25840233/ 25842387 |
|
Mobile No.: |
91-9824037271 (Mr. Rakeshbhai Kanubhai Shah) |
|
Fax No.: |
91-79-25841634 |
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E-Mail : |
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Website : |
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Area : |
8000 Sq. ft. |
|
Location : |
Owned |
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Locality : |
Industrial |
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Branch Office : |
Located At :
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DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Rajnikant Jethalal Shah |
|
Designation : |
Managing Director |
|
Address : |
4, Manglay Bunglow, Rambaug, Behind Ibp Petrolpump, Maninagar Ahmedabad -380008 , Gujarat, India |
|
Date of Birth/Age : |
19.09.1949 |
|
Date of Appointment : |
01.01.2011 |
|
DIN No. |
00038744 |
|
|
|
|
Name : |
Mr. Kanubhai Jethalal Shah |
|
Designation : |
Managing Director |
|
Address : |
Shri Nidhi, 78, Mukti Medan, Behind LG Corner, Maninagar, Ahmedabad- 380008, Gujarat, India |
|
Date of Birth/Age : |
09.09.1939 |
|
Date of Appointment : |
01.09.2008 |
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DIN No. |
00996831 |
|
|
|
|
Name : |
Mr. Rakeshbhai Kanubhai Shah |
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Designation : |
Whole-Time Director |
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Address : |
Shri Nidhi 78, Mukti Medan, Behind LG Corner, Maninagar, Ahmedabad 380008, Gujarat, India |
|
Date of Birth/Age : |
22.04.1963 |
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Date of Appointment : |
01.04.2005 |
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DIN No. |
01355664 |
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|
|
|
Name : |
Kinjalkumar Rajnikant Shah |
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Designation : |
Whole-Time Director |
|
Address : |
4, Manglay Bunglow, Rambaug, Behind IBP Petrolpump, Maninagar Ahmedabad -380008 , Gujarat, India |
|
Date of Birth/Age : |
02.01.1980 |
|
Date of Appointment : |
01.04.2008 |
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DIN No. |
01355609 |
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|
|
|
Name : |
Mr. Jigneshkumar Mahendrabhai Shah |
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Designation : |
Whole-Time Director |
|
Address : |
43, Deepmala Bunglows, Near Cadila Bridge, Ghodasar, Ahmedabad - 380050, Gujarat, India |
|
Date of Birth/Age : |
13.03.1980 |
|
Date of Appointment : |
01.04.2006 |
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DIN No. |
01355654 |
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|
|
|
Name : |
Mr. Mahendrabhai Chandulal Shah |
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Designation : |
Whole-Time Director |
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Address : |
43, Deepmala Bunglows, Near Cadila Bridge, Ghodasar,, Ahmedabad - 380050, Gujarat, India |
|
Date of Birth/Age : |
04.06.1957 |
|
Date of Appointment : |
01.04.2010 |
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DIN No. |
01355631 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Kanubhai Jethalal Shah |
|
152510 |
|
Rakeshbhai Kanubhai Shah |
|
160497 |
|
Premilaben Kanibhai Shah |
|
27410 |
|
Gitaben Rakeshbhai Shah |
|
36460 |
|
Rakeshbhai Kanubhai Shah HUF |
|
45570 |
|
Kanubhai Jethalal Shah – HUF |
|
22305 |
|
Rajnikant Jethalal Shah |
|
125480 |
|
Prafulben Rajnibhai Shah |
|
98062 |
|
Ripal Rajnibhai Shah |
|
5010 |
|
Mahendrabhai Chandulal Shah |
|
85500 |
|
Jignesh Mahendrabhai Shah |
|
76490 |
|
Kinjal Rajnikant Shah |
|
155500 |
|
Sarikaben Bhadreshbhai Shah |
|
67840 |
|
Ripal Kinjalbhai Shah |
|
89145 |
|
Ripalben Pritebhai shah |
|
5000 |
|
Pankajbhai Mahendrabhai Shah |
|
76346 |
|
Mahendrabhai Chandulal Shah – HUF |
|
10000 |
|
Jigneshbhai Mahendrabhai Shah - HUF |
|
6500 |
|
Kinjal Rajnikant Shah HUF |
|
9570 |
|
Rajnikant Jethalla Shah HUF |
|
24825 |
|
Snehaben Shah |
|
1460 |
|
|
|
|
|
Total |
|
1281480 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided Family
– Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of engineering goods such as Process Heating Equipment’s, Thermopac, Steam Boiler, Thermic Fluid Heater - Liquid / Gas Fuel Fired, Thermic Fluid Heater - Solid Fuel Fired, Hot Water Generator etc. (Registered activity and also confirmed by management) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Cheque, RTGS/ Bank Transfer |
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Purchasing : |
L/C, Cheque, RTGS/ Bank Transfer |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Surana Maloo and Company Chartered Accountants |
|
Address : |
2nd Floor, Aakashganga Complex, Near Parimal Under, Bridge, Opposite
Suvidha Shopping Center, Ahmedabad-380007, Gujarat, India |
|
Tel. No.: |
91-79-26651777/8 |
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Mobile No.: |
91-8156051777 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAHFS7809J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
IEC-TSL Ingenious Energy LLP |
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Enterprises over
which Key Managerial Personnel are able to exercise significant influence: |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1281480 |
Equity Shares |
INR 10/- each |
INR 12.815
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 |
12.815 |
12.815 |
12.815 |
|
(b) Reserves &
Surplus |
65.340 |
62.577 |
56.182 |
|
(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) |
78.155 |
75.392 |
68.997 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
63.370 |
61.631 |
36.035 |
|
(b) Deferred tax
liabilities (Net) |
3.347 |
3.531 |
3.213 |
|
(c) Other long term
liabilities |
0.000 |
8.599 |
9.735 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
66.717 |
73.761 |
48.983 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
47.951 |
53.236 |
47.668 |
|
(b) Trade payables |
68.737 |
89.626 |
103.938 |
|
(c) Other current
liabilities |
22.518 |
18.338 |
84.944 |
|
(d) Short-term provisions |
3.541 |
4.497 |
2.895 |
|
Total Current Liabilities
(4) |
142.747 |
165.697 |
239.445 |
|
|
|
|
|
|
TOTAL |
287.619 |
314.850 |
357.425 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
46.018 |
48.637 |
49.253 |
|
(ii) Intangible Assets |
1.132 |
1.223 |
1.376 |
|
(iii) Capital
work-in-progress |
1.368 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.230 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.050 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.494 |
1.021 |
0.996 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
49.292 |
50.881 |
51.625 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
141.483 |
135.854 |
130.470 |
|
(c) Trade receivables |
67.130 |
83.531 |
53.677 |
|
(d) Cash and cash
equivalents |
13.879 |
23.434 |
88.232 |
|
(e) Short-term loans and
advances |
15.835 |
21.150 |
33.421 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
238.327 |
263.969 |
305.800 |
|
|
|
|
|
|
TOTAL |
287.619 |
314.850 |
357.425 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
266.534 |
486.042 |
461.160 |
|
|
Other Income |
0.781 |
3.820 |
5.904 |
|
|
TOTAL |
267.315 |
489.862 |
467.064 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
137.586 |
300.088 |
400.251 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
9.153 |
(10.680) |
(87.820) |
|
|
Employees benefits
expense |
18.755 |
20.649 |
16.121 |
|
|
Other expenses |
83.165 |
153.435 |
110.767 |
|
|
TOTAL |
248.659 |
463.492 |
439.319 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
18.656 |
26.370 |
27.745 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
11.565 |
12.154 |
11.012 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
7.091 |
14.216 |
16.733 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
3.595 |
3.474 |
3.403 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
3.496 |
10.742 |
13.330 |
|
|
|
|
|
|
|
Less |
TAX |
0.732 |
4.347 |
4.357 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
2.764 |
6.395 |
8.973 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
19.515 |
83.833 |
113.394 |
|
|
TOTAL EARNINGS |
19.515 |
83.833 |
113.394 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
137.586 |
300.088 |
400.251 |
|
|
TOTAL IMPORTS |
137.586 |
300.088 |
400.251 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.16 |
4.99 |
8.96 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
7.710 |
(81.624) |
0.250 |
|
Net cash flow from operating activity |
5.934 |
(85.834) |
(4.020) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
91.93 |
62.73 |
42.48 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.97 |
5.82 |
8.59 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
182.35 |
109.01 |
94.78 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.13 |
0.19 |
0.21 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.38 |
0.53 |
0.55 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.72 |
0.72 |
0.77 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.42 |
1.52 |
1.21 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.83 |
2.20 |
3.47 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.62 |
0.66 |
0.73 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.61 |
2.17 |
2.52 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.04 |
1.32 |
1.95 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.96 |
2.03 |
2.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
3.54 |
8.48 |
13.00 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.67 |
1.59 |
1.28 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.68 |
0.77 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.27 |
0.24 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
8.69 |
8.96 |
6.53 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.67 |
1.59 |
1.28 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
12.815 |
12.815 |
12.815 |
|
Reserves & Surplus |
56.182 |
62.577 |
65.340 |
|
Net worth |
68.997 |
75.392 |
78.155 |
|
|
|
|
|
|
long-term borrowings |
36.035 |
61.631 |
63.370 |
|
Short term borrowings |
47.668 |
53.236 |
47.951 |
|
Total borrowings |
83.703 |
114.867 |
111.321 |
|
Debt/Equity ratio |
1.213 |
1.524 |
1.424 |
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 |
461.160 |
486.042 |
266.534 |
|
|
|
5.396 |
(45.162) |
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 |
461.160 |
486.042 |
266.534 |
|
Profit |
8.973 |
6.395 |
2.764 |
|
|
1.95% |
1.32% |
1.04% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
12.815 |
12.815 |
|
(b) Reserves &
Surplus |
|
65.340 |
62.577 |
|
(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) |
|
78.155 |
75.392 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
63.369 |
61.631 |
|
(b) Deferred tax
liabilities (Net) |
|
3.347 |
3.531 |
|
(c) Other long term
liabilities |
|
0.000 |
8.599 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
66.716 |
73.761 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
47.951 |
53.236 |
|
(b) Trade payables |
|
68.737 |
89.626 |
|
(c) Other current
liabilities |
|
22.519 |
18.338 |
|
(d) Short-term provisions |
|
3.541 |
4.497 |
|
Total Current Liabilities
(4) |
|
142.748 |
165.697 |
|
|
|
|
|
|
TOTAL |
|
287.619 |
314.850 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
46.018 |
48.637 |
|
(ii) Intangible Assets |
|
1.132 |
1.223 |
|
(iii) Capital
work-in-progress |
|
1.368 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.230 |
0.000 |
|
(b) Non-current
Investments |
|
0.050 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.494 |
1.021 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
49.292 |
50.881 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
141.483 |
135.854 |
|
(c) Trade receivables |
|
67.130 |
83.531 |
|
(d) Cash and cash
equivalents |
|
13.879 |
23.434 |
|
(e) Short-term loans and
advances |
|
15.835 |
21.150 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
238.327 |
263.969 |
|
|
|
|
|
|
TOTAL |
|
287.619 |
314.850 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
266.534 |
486.042 |
|
|
Other Income |
|
0.781 |
3.820 |
|
|
TOTAL |
|
267.315 |
489.862 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
137.586 |
300.088 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
9.153 |
(10.680) |
|
|
Employees benefits
expense |
|
18.755 |
20.649 |
|
|
Other expenses |
|
83.165 |
153.435 |
|
|
TOTAL |
|
248.659 |
463.492 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
18.656 |
26.370 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
11.565 |
12.154 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
7.091 |
14.216 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
3.595 |
3.474 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
3.496 |
10.742 |
|
|
|
|
|
|
|
Less |
TAX |
|
0.732 |
4.347 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
2.764 |
6.395 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
2.16 |
4.99 |
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 |
Yes |
|
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) |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
From Bodies Corporate |
10.540 |
10.201 |
|
From Directors |
52.365 |
49.223 |
|
|
|
|
|
Total |
62.905 |
59.424 |
CORPORATE
INFORMATION
Subject is a limited (Unlisted) company domiciled in India and
incorporated under the provision of the companies act, 1956. Subject is engaged
in business of manufacturing of engineering goods.
INDEX
OF CHARGES:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G87396677 |
100174761 |
HDFC BANK LIMITED |
14/03/2018 |
20/04/2018 |
- |
34000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
2 |
G86696820 |
100143144 |
HDFC BANK LIMITED |
29/11/2017 |
14/03/2018 |
- |
99000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
G76154780 |
10441569 |
BANK OF BARODA |
08/08/2013 |
30/01/2016 |
23/01/2018 |
129000000.0 |
VATVA INDUSTRIAL ESTATE, G.I.D.CVATVA PHASE-IV,AHMEDABADGJ382445IN |
|
4 |
G76155076 |
10456824 |
BANK OF BARODA |
08/10/2013 |
03/02/2016 |
23/01/2018 |
129000000.0 |
VATVA INDUSTRIAL ESTATE, G.I.D.CVATVA PHASE-IV,AHMEDABADGJ382445IN |
|
5 |
B85228435 |
10302950 |
ING VYSYA BANK LIMITED |
28/06/2011 |
- |
29/08/2013 |
38900000.0 |
P.B.NO.4038,CHANAKYA BUILDING,NEAR DINESH HALL,OFF ASHRAM ROAD,AHMEDABADGJ380009IN |
|
6 |
B19519818 |
10115462 |
HDFC BANK LIMITED |
13/06/2008 |
17/12/2009 |
08/08/2011 |
30000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
7 |
A57042798 |
10044961 |
BANK OF BARODA |
26/03/2007 |
- |
05/08/2008 |
7500000.0 |
MANINAGAR (WEST) BRANCH,MANINAGAR,AHMEDABADGJ380008IN |
|
8 |
A57043051 |
10044959 |
BANK OF BARODA |
29/03/2007 |
- |
05/08/2008 |
7500000.0 |
MANINAGAR (WEST) BRANCH,MANINAGAR,AHMEDABADGJ380008IN |
|
9 |
A12267787 |
90108055 |
THE AHMEDABAD MERCANTILE CO.OP BANK LTD |
14/06/2004 |
- |
06/03/2007 |
1200000.0 |
VATWA BRANCHAHMEDABADGJIN |
FIXED ASSETS
- Land
- Factory
Building
- Office
Building
- Plant and
Machinery
- Furniture and
Fixture
- Office
Equipment
- Computer
- Motor Cars
- Laboratory
Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 67.83 |
|
|
1 |
INR 91.68 |
|
Euro |
1 |
INR 80.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
JYO |
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.