|
|
|
MIRA INFORM REPORT
|
Report No. : |
516506 |
|
Report Date : |
23.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
VINAYAGA MARINE PETRO LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, Viraj Impex House, 47, P D' Mello Road, Masjid Carnac
Bunder, Mumbai-400009, Maharashtra |
|
Tel. No.: |
91-22-61295060 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
06.10.1997 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1.516 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35110MH1997PLC111092 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Applicable (As informed by the management that firm
does not have export and import) |
|
|
|
|
TIN No.: |
27910001048 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AABCV0793M1ZV |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV0793M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and importer of steel products, sheets, plates and cold rolled. [Registered activity and also confirmed by management] |
|
|
|
|
No. of Employees
: |
12 (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 |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1997 and it is a trader and importer of steel products, sheets, plates and cold rolled. As per financials of March 2017, the company has registered a decline in its revenue from its previous year’s revenue and has reported good profit margin of 7.59%. Rating takes into consideration the company’s established track record of business operations marked by sound net worth base along with low solvency indicators and decent liquidity position. Rating also takes into account the extensive experience of the promoters in the iron and steel trading business and VMPL’s established relationship with reputed international suppliers, which ensures smooth supply of traded steel at competitive rates. Further, the company has reported a good earnings per share of INR 424.01 against its face value of INR 10. However, the rating strength is partially offset by working capital intensive nature of operations and intense competition in the steel industry. Payments terms seems to be slow but correct. In view of aforesaid, the subject can be considered for business dealings 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 |
ICRA |
|
Rating |
Long term rating = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
14.02.2018 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
14.02.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Ravi Chandran |
|
Designation : |
General Manager |
|
Contact No.: |
91-9594355666 |
|
Date : |
21.06.2018 |
LOCATIONS
|
Registered Office : |
4th Floor, Viraj Impex House, 47, P D' Mello Road, Masjid
Carnac Bunder, Mumbai-400009, Maharashtra, India |
|
Tel. No.: |
91-22-61295060 / 61295000 |
|
Mobile No.: |
91-9594355666 (Mr. Ravi Chandran) |
|
Fax No.: |
91-22-61295024 |
|
E-Mail : |
|
|
|
|
|
Sales Office : |
KL-6/11/15, Sector 3E, Kalamboli, New Mumbai-410218, Maharashtra,
India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Vimal Ratanlal Didwania |
||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||
|
Address : |
Chapsey Terrace, 1st Floor 30 Altamount Road, Kemps Corner, Mumbai-400026, Maharashtra, India |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.10.1955 |
||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||
|
Date of Appointment : |
06.10.1997 |
||||||||||||||||||||||||||||
|
PAN No.: |
ACQPD3759B |
||||||||||||||||||||||||||||
|
DIN No.: |
00221021 |
||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Kailash Ratanlal Didwania |
||||||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||||||
|
Address : |
Chapsey Terrace, 1st Floor 30 Altamount Road, Kemps Corner, Mumbai-400026, Maharashtra, India |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.05.1959 |
||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||
|
Date of Appointment : |
14.03.2013 |
||||||||||||||||||||||||||||
|
PAN No.: |
ACQPD3758A |
||||||||||||||||||||||||||||
|
DIN No.: |
00226080 |
||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Prakash Ratanlal Didwania |
||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||
|
Address : |
New Usha Kiran Co-Operative Housing Society Limited, 15 Carmichael Road, Flat No.20, 10th Floor, Mumbai-400026, Maharashtra, India |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.06.1960 |
||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||
|
Date of Appointment : |
12.02.2015 |
||||||||||||||||||||||||||||
|
PAN No.: |
AFQPD0874A |
||||||||||||||||||||||||||||
|
DIN No.: |
00225978 |
||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Vikash Amarnath Singh |
||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||
|
Address : |
06 Vibha Jha Chawl, Gavdevi Road, Mithila Nagar, Bhajivadi, Kandivali (East), Mumbai-400101, Maharashtra, India |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.03.1986 |
||||||||||||||||||||||||||||
|
Qualification : |
Non Graduate |
||||||||||||||||||||||||||||
|
Date of Appointment : |
27.08.2015 |
||||||||||||||||||||||||||||
|
PAN No.: |
CFUPS4890H |
||||||||||||||||||||||||||||
|
DIN No.: |
07271441 |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Krishnan Hari Nair |
||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||
|
Address : |
C212, National Park Chs, Plot 452, Near Moraj CHS, Takka Panvel, Raigad-410206, Maharashtra, India |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.09.1990 |
||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||
|
Date of Appointment : |
27.08.2015 |
||||||||||||||||||||||||||||
|
PAN No.: |
AMDPN4932B |
||||||||||||||||||||||||||||
|
DIN No.: |
07271391 |
||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Ravi Chandran |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Vimal Ratanlal Didwania |
|
54150 |
|
Suman Vimal Didwania |
|
100 |
|
Jeetendra C Rathi |
|
10 |
|
Sushil Prahlad Poddar |
|
10 |
|
Sangita Sushil Poddar |
|
10 |
|
Ketan Shantilal Shah |
|
10 |
|
Ami Ketan Shah |
|
10 |
|
Ratanlal Kanhiyalal Didwania |
|
1940 |
|
Vinay Holdings Private Limited, India |
|
17000 |
|
Indo-City Infotech Limited, India |
|
5000 |
|
Insutech India Limited, India |
|
3350 |
|
Chouhary Global Limited, India |
|
3350 |
|
Alka Diamond Industries Limited, India |
|
3350 |
|
Shresth Leasing & Finance Limited, India |
|
5000 |
|
Sunciti Financial Services Private Limited, India |
|
5000 |
|
Kushal Software Limited, India |
|
3350 |
|
Amalgamated Commercial Traders Private Limited, India |
|
5000 |
|
Javda India Impex Limited, India |
|
5000 |
|
Jagmandri Finvest Private Limited, India |
|
5000 |
|
Kim Electronics Industries Limited, India |
|
5000 |
|
Kush Hindustan Entertainment Limited |
|
10000 |
|
Lexus Infotech Limited, India |
|
10000 |
|
Yash V Jewels Limited, India |
|
10000 |
|
Total |
|
151640 |
AS ON 29.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
37.09 |
|
Promoters - Bodies corporate |
14.51 |
|
Public/Other than promoters - Bodies corporate |
48.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and importer of steel products, sheets, plates and cold rolled. [Registered activity and also confirmed by management] |
||||
|
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|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
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|
|
|
||||
|
Agencies Held : |
Not Available |
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|
||||
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Exports : |
Not Available |
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|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Advance Payment and L/C |
||||
|
|
|
||||
|
Purchasing : |
Advance Payment and L/C |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
End Users
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
12 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Bhat T and Mathur Chartered Accountants |
|
Address : |
402 / B - Wing, Star Manor, Anand Road Extension, Malad (West), Mumbai -400064, Maharashtra, India |
|
PAN No.: |
AAAFB5870F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associate Company : |
Viraj Properties Private Limited, India CIN No.: U70100MH1999PTC121018 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
CIN No.: U51900MH1988PTC046416
CIN No.: L99999MH1985PLC082517 |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
INR 10/- each |
INR 2.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
151640 |
Equity Shares |
INR 10/- each |
INR 1.516 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
1.516 |
1.516 |
1.516 |
|
(b) Reserves and Surplus |
215.680 |
151.382 |
124.923 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
217.196 |
152.898 |
126.439 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
72.400 |
78.995 |
74.268 |
|
(b) Trade
payables |
450.076 |
331.733 |
347.938 |
|
(c) Other
current liabilities |
31.196 |
26.507 |
26.477 |
|
(d) Short-term
provisions |
0.260 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
553.932 |
437.235 |
448.683 |
|
|
|
|
|
|
TOTAL |
771.128 |
590.133 |
575.122 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
59.431 |
60.381 |
60.960 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
30.000 |
30.000 |
30.000 |
|
(c) Deferred tax assets (net) |
1.168 |
26.608 |
37.350 |
|
(d)
Long-term loans and advances |
22.354 |
13.214 |
12.268 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
112.953 |
130.203 |
140.578 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
74.349 |
26.973 |
14.473 |
|
(b)
Inventories |
152.198 |
40.986 |
29.376 |
|
(c) Trade
receivables |
312.095 |
260.148 |
308.990 |
|
(d) Cash and
bank balances |
91.347 |
114.259 |
62.546 |
|
(e)
Short-term loans and advances |
3.790 |
2.658 |
3.136 |
|
(f) Other
current assets |
24.396 |
14.906 |
16.023 |
|
Total
Current Assets |
658.175 |
459.930 |
434.544 |
|
|
|
|
|
|
TOTAL |
771.128 |
590.133 |
575.122 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
846.761 |
1073.512 |
1254.790 |
|
|
Other Income |
21.461 |
18.275 |
30.461 |
|
|
TOTAL |
868.222 |
1091.787 |
1285.251 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.016 |
|
|
Purchases of
Stock-in-Trade |
842.919 |
1045.105 |
1238.703 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(111.212) |
(11.610) |
7.043 |
|
|
Employee benefit expense |
9.052 |
1.358 |
1.557 |
|
|
CSR expenditure |
0.260 |
0.000 |
0.000 |
|
|
Other expenses |
23.121 |
8.548 |
9.479 |
|
|
TOTAL |
764.140 |
1043.401 |
1256.798 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
104.082 |
48.386 |
28.453 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
5.578 |
6.323 |
6.391 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
98.504 |
42.063 |
22.062 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
2.766 |
3.133 |
4.263 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
95.738 |
38.930 |
17.799 |
|
|
|
|
|
|
|
Less |
TAX |
31.440 |
12.471 |
5.833 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
64.298 |
26.459 |
11.966 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
112.798 |
86.339 |
74.372 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
177.096 |
112.798 |
86.339 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
424.01 |
174.49 |
78.91 |
|
Particulars |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
880.000 |
|
|
|
|
(Due to business
growth) |
The above information has been parted by Mr. Ravi Chandran (General
Manager)
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 |
|
Net cash flows from (used in) operations |
50.732 |
58.236 |
(122.391) |
|
Net cash flows from (used in) operating activities |
25.852 |
49.205 |
(131.101) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
134.53 |
88.45 |
89.88 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
2.71 |
4.13 |
4.06 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
194.89 |
115.86 |
102.52 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.68 |
1.18 |
0.97 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.75 |
0.80 |
0.47 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.72 |
0.74 |
0.78 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.33 |
0.52 |
0.59 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.55 |
2.86 |
3.55 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.27 |
0.39 |
0.48 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
18.66 |
7.65 |
4.45 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
7.59 |
2.46 |
0.95 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
8.34 |
4.48 |
2.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
29.60 |
17.31 |
9.46 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.19 |
1.05 |
0.97 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.91 |
0.96 |
0.90 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.28 |
0.26 |
0.22 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
47.76 |
52.11 |
48.99 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.19 |
1.05 |
0.97 |
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 |
1.516 |
1.516 |
1.516 |
|
Reserves & Surplus |
124.923 |
151.382 |
215.680 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
126.439 |
152.898 |
217.196 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
74.268 |
78.995 |
72.400 |
|
Total
borrowings |
74.268 |
78.995 |
72.400 |
|
Debt/Equity
ratio |
0.587 |
0.517 |
0.333 |
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 |
1254.790 |
1073.512 |
846.761 |
|
|
|
(14.447) |
(21.122) |
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 |
1254.790 |
1073.512 |
846.761 |
|
Profit/ (Loss) |
11.966 |
26.459 |
64.298 |
|
|
0.95% |
2.46% |
7.59% |
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) |
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 |
No |
|
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
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 |
CORPORATE INFORMATION
The company is engaged in trading in Iron and Steel and imports flat steel products from various countries for resale in India. Company was also engaged in an integrated engineering service provider supporting the maritime and offshore infrastructure in India but due to lack order this business segment is not in operation.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Short-term
borrowings |
|
|
|
Other loans and advances |
72.400 |
78.995 |
|
Total |
72.400 |
78.995 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
A90714445 |
90158407 |
UCO BANK |
05/06/2004 |
12/07/2010 |
- |
2500000000.0 |
Flagship Corporate Branch, 1st Floor, Mafatlal Centre, Nariman Point, Mumbai-400021, Maharashtra, India |
|
2 |
G50636950 |
90158555 |
CANARA BANK |
28/01/2005 |
17/02/2005 |
05/08/2017 |
80000000.0 |
Fort Branch, Sir Pm Road, Mumbai-400001, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees |
2792.300 |
2766.061 |
|
Total |
2792.300 |
2766.061 |
FIXED ASSETS:
- Land
- Building
- Plant and equipment
- Furniture and Fixture
- Computer
- 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 67.77 |
|
|
1 |
INR 89.96 |
|
Euro |
1 |
INR 78.86 |
INFORMATION DETAILS
|
Information Gathered
by : |
SHA |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
BHG |
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.