|
|
|
MIRA
INFORM REPORT
|
Report No. : |
516594 |
|
Report Date : |
23.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
FLINT GROUP INDIA PRIVATE LIMITED (w.e.f. 12.06.2006) |
|
|
|
|
Formerly Known
As : |
INCOWAX PRIVATE LIMITED |
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Registered
Office : |
Plot No.- 2, Shiv Industrial Infrastructure Park, Nirma Canal Road, Lamdapura, Taluka Savli, Vadodara – 391775, Gujarat |
|
Tel. No.: |
91-2667-262425 / 677369 |
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|
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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 : |
06.01.1989 |
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|
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CIN No.: [Company Identification
No.] |
U02422GJ1989PTC079311 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 24.300 Million |
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|
|
|
IEC No.: [Import-Export Code No.] |
0588037371 |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACI5639L |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
24AAACI5639L1ZE |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and trading of printing inks. [Registered activity] |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 2600000 |
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|
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1989. It is a subsidiary of Flint Ink (Mauritius) Limited. The company is a manufacturer if printing inks and printing chemicals. As per the financial records of 2017, the company has achieved 2.40% growth in its revenue as compared to the previous year’s revenue and has reported an average net profit margin of 2.12%. The company possesses healthy financial position marked by sound net worth base along with comfortable liquidity parameter. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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
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 23.06.2018
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. Ritesh Shah |
|
Designation : |
Deputy Manager in Commercial Department |
|
Contact No.: |
91-8511170325 |
|
Date : |
22.06.2018 |
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No.- 2, Shiv Industrial Infrastructure Park, Nirma Canal Road, Lamdapura, Taluka Savli, Vadodara – 391775, Gujarat, India |
|
Tel. No.: |
91-2667-262425 / 677369 |
|
Mobile No.: |
91-8511170325 (Mr. Ritesh Shah) |
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Fax No.: |
91-2667-262428 / 267367 |
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E-Mail : |
|
|
Website : |
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|
Area : |
8 acres |
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Location : |
Owned |
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Locality: |
Industrial |
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|
|
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Factory 2 : |
No. 66, SIPCOT, Industrial Complex, Phase-I, Hosur – 635126, Tamilnadu, India |
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Tel. No.: |
91-4344-276877 |
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|
|
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Factory 3 : |
Plot No. 486-490, GIDC, Manjusar, Taluka Savli, District Vadodara – 391775, Gujarat, India |
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Tel. No.: |
91-2667-264648 |
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Fax No.: |
91-2667-264649 |
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|
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Branch Office 1: |
1G, Survey No. 226, Phase II, IDA-Cherlapally, Hyderabad – 500051, Telangana, India |
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Tel. No: |
91-40-27260089 |
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|
|
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Branch Office 2: |
Merrill Infrastructure Park, Ground Floor, Block E-2, Sandhipur (After Dhulagarh Toll Tax), P.O: Jaynagar, P.S: Sankrail, Howrah – 711302, West Bengal, India |
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Tel. No: |
91-33-25468416 |
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Branch Office 3: |
Plot No. 486 - 490, GIDC, Manjusar, Savli – 391760, Vadodara, Gujarat, India |
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Tel. No.: |
91-2667-264648 |
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Fax No.: |
91-2667-264649 |
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|
|
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Branch Office 4: |
Gala No- 217, Second Floor, Hasti Industrial Premises Co-operative Society Limited, Plot No-R798, TTC Industrials Area, MIDC, Mahape and Savli, Navi Mumbai, Taluka and District: Thane – 400706, Maharashtra, India |
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Tel. No.: |
91-22-49744755 |
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Branch Office 5: |
Plot No. C-52, Sector 58, Noida Complex, Gautam Budh Nagar, Noida – 201301, Uttar Pradesh, India |
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Tel. No: |
91-120-4349640 |
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Branch Office 6: |
Office No: 622, Avior Nirmal Galaxy, LBS Marg, Mulund (West), Mumbai – 400080, Maharashtra, India |
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Tel. No.: |
91-22-67702982 |
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|
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Overseas Offices : |
· Europe/Middle East/Africa · Asia/Pacific · North America · Latin America |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Upal Roy |
|
Designation : |
Managing Director |
|
Address : |
H-52 / D, Saket, New Delhi – 110017, India |
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Date of Birth/Age : |
30.12.1965 |
|
Date of Appointment : |
30.09.2011 |
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PAN No.: |
AAHPR2771A |
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DIN No.: |
05222906 |
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|
|
|
Name : |
Mr. Ronny Saleem Muawad |
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Designation : |
Additional director |
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Address : |
1341, Kensington Ave, Grosse Pointe Park, Michigan, 482301103, United States of America |
|
Date of Appointment : |
04.12.2014 |
|
DIN No.: |
06911666 |
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|
|
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Name : |
Mr. Paramjeet Singh Harnam Singh Sethi |
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Designation : |
Additional Director |
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Address : |
K-48 SF, Block K, West Patel Nagar, Delhi – 110008, India |
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Date of Birth/Age : |
15.08.1965 |
|
Date of Appointment : |
31.07.2015 |
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PAN No.: |
AHNPS9426J |
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DIN No.: |
07213759 |
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|
|
|
Name : |
Mr. Sachin Kumar |
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Designation : |
Additional Director |
|
Address : |
178, Greenpark, Beesalpur Road, Bareilly – 243001, Uttar Pradesh, India |
|
Date of Birth/Age : |
13.10.1975 |
|
Date of Appointment : |
31.07.2015 |
|
PAN No.: |
AHYPK9416B |
|
DIN No.: |
07244952 |
KEY EXECUTIVES
|
Name : |
Mr. Ritesh Shah |
|
Designation : |
Deputy Manager in Commercial Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Flint Ink (Mauritius) Limited, Mauritius |
|
2429999 |
|
Flint Ink US LLC |
|
1 |
|
|
|
|
|
Total |
|
2430000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and trading of printing inks. [Registered activity] |
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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 : |
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 : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Price Water House LLP Chartered Accountants |
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Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028, Maharashtra, India |
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PAN No.: |
AAEFP3641G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
·
Flint Ink (Mauritius) Limited, Mauritius |
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Ultimate Holding company : |
·
Colour OZ Top Co SCA, Luxembourg |
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Fellow Subsidiary companies : |
·
Day International (UK) Limited, UK ·
Day International-SDN BHD, Malaysia ·
Flint Group (Asia) Pte. Limited, Singapore ·
Flint Group Australia Pty Limited, Australia ·
Flint Group Company (Thailand) Limited, Thailand ·
Flint Group Germany GMBH, Germany ·
Flint Group Italia S.p.A., Italy ·
Flint Group NZ Limited, Auckland ·
Flint Group Netherlands BV, Netherlands ·
Flint Group Shanghai Management Company Limited,
China ·
Flint Group Sweden AB, Sweden ·
Flint Group XSYS, Sweden ·
Flint Ink (Beijing) Printing Ink Company Limited,
Beijing ·
Flint Ink (UK) Limited, Raubon, United Kingdom ·
Flint Ink Corporation, United States ·
Flint Ink Tintas De Impresso LTDA, Brazil ·
Flint Ink Vietnam Company Limited, Viet Nam ·
PT Flint Group, Indonesia ·
Varn International INC., United Kingdom · Flint Group (Guangzhou) Printing Ink Co. Ltd, China · Flint Group (Malaysia) Sdn Bhd, Malaysia · Flint Group North America Corporation · Flint Ink (UK) Limited, Raubon |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2430000 |
Equity Shares |
INR 10/- each |
INR 24.300 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees 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 |
24.300 |
24.300 |
24.300 |
|
(b) Reserves and Surplus |
883.259 |
825.391 |
759.044 |
|
(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) |
907.559 |
849.691 |
783.344 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
106.149 |
323.858 |
306.442 |
|
(b) Deferred tax liabilities (Net) |
15.627 |
20.429 |
28.716 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
82.912 |
71.749 |
60.281 |
|
Total Non-current
Liabilities (3) |
204.688 |
416.036 |
395.439 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
39.584 |
0.000 |
|
(b) Trade
payables |
831.274 |
775.693 |
746.375 |
|
(c) Other
current liabilities |
320.824 |
52.412 |
67.551 |
|
(d) Short-term
provisions |
6.607 |
5.655 |
4.663 |
|
Total Current
Liabilities (4) |
1158.705 |
873.344 |
818.589 |
|
|
|
|
|
|
TOTAL |
2270.952 |
2139.071 |
1997.372 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
611.763 |
618.173 |
648.166 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
128.962 |
38.179 |
8.825 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.070 |
0.070 |
0.071 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
56.389 |
54.623 |
31.977 |
|
(e) Other
Non-current assets |
0.000 |
1.051 |
0.000 |
|
Total Non-Current
Assets |
797.184 |
712.096 |
689.039 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
457.114 |
471.245 |
387.040 |
|
(c) Trade
receivables |
741.466 |
663.344 |
650.791 |
|
(d) Cash and bank
balances |
147.872 |
146.021 |
133.500 |
|
(e)
Short-term loans and advances |
126.321 |
144.686 |
135.730
|
|
(f) Other
current assets |
0.995 |
1.679 |
1.272 |
|
Total
Current Assets |
1473.768 |
1426.975 |
1308.333 |
|
|
|
|
|
|
TOTAL |
2270.952 |
2139.071 |
1997.372 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2736.017 |
2671.996 |
2552.458 |
|
|
Other Income |
33.210 |
3.591 |
137.393 |
|
|
TOTAL |
2769.227 |
2675.587 |
2689.851 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1958.806 |
1985.847 |
2042.221 |
|
|
Purchases of
Stock-in-Trade |
39.240 |
52.021 |
16.017 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
48.818 |
(49.245) |
(27.228) |
|
|
Employee benefit expense |
268.993 |
212.898 |
148.147 |
|
|
Other expenses |
275.054 |
297.446 |
300.766 |
|
|
TOTAL |
2590.911 |
2498.967 |
2479.923 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
178.316 |
176.620 |
209.928 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
18.786 |
31.799 |
29.864 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
159.530 |
144.821 |
180.064 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
69.961 |
71.720 |
82.199 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
89.569 |
73.101 |
97.865 |
|
|
|
|
|
|
|
Less |
TAX |
31.702 |
6.754 |
37.878 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
57.867 |
66.347 |
59.987 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
181.572 |
279.457 |
0.000 |
|
|
Other
Earning |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
181.572 |
279.457 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
715.665 |
698.045 |
0.000 |
|
|
Components and spare parts |
21.029 |
48.128 |
0.000 |
|
|
Capital Goods |
75.153 |
4.719 |
0.000 |
|
|
TOTAL IMPORTS |
811.846 |
750.892 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
23.81 |
27.30 |
24.69 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
211.003 |
NA |
NA |
|
Net cash flows from (used in) operations |
196.306 |
110.311 |
(121.119) |
|
Net cash flows from (used in) operating activities |
174.929 |
81.674 |
(125.226) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days [Sundry Debtors
/ Income * 365] |
|
98.92 |
90.61 |
93.06 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
3.69 |
4.03 |
3.92 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
151.86 |
138.93 |
132.36 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.39 |
0.37 |
0.54 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.24 |
0.27 |
0.32 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing
+ Current Liabilities) / Total Assets] |
|
0.65 |
0.56 |
0.56 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.35 |
0.43 |
0.39 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
1.28 |
1.03 |
1.04 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.82 |
0.77 |
0.84 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
9.49 |
5.55 |
7.03 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
2.12 |
2.48 |
2.35 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
2.55 |
3.10 |
3.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
6.38 |
7.81 |
7.66 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio
[Current Assets / Current Liabilities] |
|
1.27 |
1.63 |
1.60 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.88 |
1.09 |
1.13 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.40 |
0.40 |
0.39 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
13.05 |
14.96 |
12.61 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.27 |
1.63 |
1.60 |
Total Liability =
Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
24.300 |
24.300 |
24.300 |
|
Reserves & Surplus |
759.044 |
825.391 |
883.259 |
|
Net
worth |
783.344 |
849.691 |
907.559 |
|
|
|
|
|
|
Long-term borrowings |
306.442 |
323.858 |
106.149 |
|
Short term borrowings |
0.000 |
39.584 |
0.000 |
|
Total
borrowings |
306.442 |
363.442 |
317.152 |
|
Debt/Equity
ratio |
0.391 |
0.428 |
0.349 |
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 |
2552.458 |
2671.996 |
2736.017 |
|
|
|
4.683 |
2.396 |
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 |
2552.458 |
2671.996 |
2736.017 |
|
Profit/ (Loss) |
59.987 |
66.347 |
57.867 |
|
|
2.35
% |
2.48
% |
2.12
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C75306456 |
10611740 |
HDFC BANK LIMITED |
15/12/2015 |
- |
- |
300000000.0 |
1ST FLOOR AVIDITYA COMPLEX,OPP. ARPAN COMPLEX,NIZAMPURA BRANCH,NIZAMPURA, VADODARA-390002 VADODARA GJIN |
|
2 |
C32436073 |
80057141 |
CORPORATION BANK |
26/12/2005 |
28/03/2013 |
01/10/2014 |
150000000.0 |
14-15 FIRST FLOOR, NATIONAL PLAZAR C DUTT ROAD, ALKAPURI VADODARA GJ390007IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Other money for which company is contingently liable |
18.748 |
51.357 |
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
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 67.77 |
|
|
1 |
INR 89.96 |
|
Euro |
1 |
INR 78.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared by
: |
NKT |
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.