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|
MIRA INFORM REPORT
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Report No. : |
516028 |
|
Report Date : |
26.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
JBM AUTO LIMITED |
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|
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Registered
Office : |
601, Hemkunt Chamber, 89, Nehru Place, New Delhi – 110019 |
|
Tel. No.: |
91-11-26427104 |
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|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2018 |
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|
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|
Date of
Incorporation : |
05.11.1996 |
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Capital
Investment / Paid-up Capital : |
INR 204.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74899DL1996PLC083073 |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
09AAACJ9630N1Z2 |
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PAN No.: [Permanent Account No.] |
AAACJ9630N |
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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
: |
The Company is engaged in the automotive business that
manufactures and sell sheet metal components, tools dies and moulds and buses
including sale of spare parts, accessories and maintenance contract of Buses. [Registered Activity] |
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|
|
|
No. of Employees
: (As on
31.03.2017) |
817 (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 |
|
Maximum Credit Limit : |
USD 6044300 |
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|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of JBM Group, incorporated in the year 1996 and it is engaged as manufacturer of sheet metal components, tools and dies for automotive applications. For the financial year 2018, the company has achieved marginal growth in its revenue as compared to its previous year and has managed to maintain fair profit margin during the year. Rating takes into consideration, the healthy financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continue to derive strength from the company’s strong group that offers support in the form of technical and operational guidance as well as financial support. Further, the company has manage to secure many share of the business OEMs such as HCIL, VECV, TML, M&M, Ford, Renault Nissan and HMSI. The company has its share price trading at around INR 358.65 on BSE as on 20th June 2018 as against its face value of INR 5. However, these rating strengths gets partially offset by Limited diversification with high dependence on sheet metal division for revenues. Payments are seems to be regular. 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 |
ICRA |
|
Rating |
Fund Based Limits = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
08.06.2018 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Fund Based Limits = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
08.06.2018 |
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 26.06.2018.
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
Management Non-Cooperative (Tel. No.:91-124-4674500/ 4674550)
Mobile No.: 91-9711199138 (Not Reachable)
LOCATIONS
|
Registered Office : |
601, Hemkunt Chamber, 89, Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
91-11-26427104 |
|
Fax No.: |
91-11-26427100 |
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E-Mail : |
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|
Website : |
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|
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Corporate Office |
Plot No.9, Institutional Area, Sector – 44, Gurugram – 122003, Haryana,
India |
|
Tel. No.: |
91-124-4674500/ 4674550 |
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Fax No.: |
91-124-4674599 |
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|
|
|
Plant Location |
|
|
Plant I |
Plot No. 133, Sector-24, Faridabad-121005, Haryana, India |
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Tel. No.: |
91-129-4090200 |
|
Fax No.: |
91-129-2234230 |
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|
|
|
Plant II |
Plot No. 5, Sector-31, Kasna Industrial Area, Greater Noida-201306, Uttar Pradesh, India |
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Tel. No.: |
91-120-4522500, 2341417, 2341429 |
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Fax No.: |
91-120-2341423 / 4522504 |
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|
|
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Plant III |
71-72, MIDC, Satpur, Nashik – 422007, Maharashtra, India |
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Tel. No.: |
91-253-2207297 |
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Fax No.: |
91-253-2360559 |
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|
|
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Plant IV |
Plot No. B-2, Survey No.1, Tata Motors Vendor Park, Sanand - 382170, Ahmedabad, Gujarat, India |
|
Tel. No.: |
91-2717-645180 |
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|
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Plant V |
Plot No. 118, Sector – 59, HSIIDC, Industrial Estate, Ballabhgarh, Faridabad-121004, Haryana, India |
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Plant VI |
A-4, Industrial Estate, Kosi Kotwan, Dist. Mathura, Uttar Pradesh, India |
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Plant VII |
Plot No. 157-E, Sector-3, Pithampur Industrial Area, District Dhar-454775, Madhya Pradesh, India |
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Plant VIII |
Plot No. SP-1/891, RIICO Industrial Area, Pathredi, Bhiwadi, District Alwar - 301707, Rajasthan, India |
|
|
|
|
Skill Development Centre
(SDC) |
Plot No. 16, Sector-20B, Faridabad-121007, Haryana, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sandip Sanyal |
|
Designation : |
Whole-time Director |
|
Address : |
B-143, The Icon, DLF City – 5, Gurugram-122002, Haryana, India |
|
Date of Appointment : |
18.05.2015 |
|
DIN No.: |
07186909 |
|
|
|
|
Name : |
Mr. Ashok Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
H. No-67, G/F Road, No-41, West Punjabi Bagh, New Delhi-110026, India |
|
Date of Appointment : |
01.08.2000 |
|
DIN No.: |
00003988 |
|
|
|
|
Name : |
Mr. Surendra Arya |
|
Designation : |
Director |
|
Address : |
Neelanchal No.7, Bandh Road Chandanhulla, Mehrauli, New Delhi-110030, India |
|
Date of Appointment : |
01.08.2000 |
|
DIN No.: |
00004626 |
|
|
|
|
Name : |
Mr. Nishant Arya |
|
Designation : |
Director |
|
Address : |
Neelanchal No.7, Bandh Road Chandanhulla Mahrauli, New Delhi -110030, India |
|
Date of Birth/Age : |
01.11.1986 |
|
Qualification : |
MBA and diploma in Business Development and Strategy |
|
Date of Appointment : |
30.07.2009 |
|
DIN No.: |
00004954 |
|
|
|
|
Name : |
Mr. Mahesh Kumar Aggarwal |
|
Designation : |
Director |
|
Address : |
D-251, Sector-47, Noida-201301, Uttar Pradesh, India |
|
Date of Appointment : |
07.06.2002 |
|
DIN No.: |
00004982 |
|
|
|
|
Name : |
Mr. Pravin Tripathi |
|
Designation : |
Additional Director |
|
Address : |
D-243, Anupam Gadens, Neb Sarai Sainik Farm, New Delhi-110068, India |
|
Date of Appointment : |
04.09.2017 |
|
DIN No.: |
06913463 |
KEY EXECUTIVES
|
Name : |
Mr. Vivek Gupta |
|
Designation : |
Company Secretary/ Chief Finance Officer |
|
Address : |
Flat No. 703, Plot No. 7, GH Greenwood Society, Sector – 47, Gurugram-122001, Haryana, India |
|
Date of Appointment : |
02.04.2014 |
|
PAN: |
AEWPG9867P |
SHAREHOLDING PATTERN
AS ON MARCH 2018
|
Category of shareholder |
Total no. shares held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
25275199 |
61.96 |
|
|
(B) Public |
15520165 |
38.04 |
|
|
Grand Total |
40795364 |
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 (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
1145659 |
2.81 |
|
|
Surendra Kumar Arya (HUF) |
288856 |
0.71 |
|
|
Vishudda Ramrichhpal Agarwal |
375 |
0.00 |
|
|
Surendra Kumar Arya |
118140 |
0.29 |
|
|
Nishant Arya |
339400 |
0.83 |
|
|
Neelam Arya |
396188 |
0.97 |
|
|
Ramrichpal Rameshwardas Agarwal |
600 |
0.00 |
|
|
Satya Priya Arya |
2100 |
0.01 |
|
|
Any Other (specify) |
24129540 |
59.15 |
|
|
Ans Holding Private Limited |
2058996 |
5.05 |
|
|
Focal Leasing And Credits Limited |
1579132 |
3.87 |
|
|
A To Z Securities Limited |
4190160 |
10.27 |
|
|
Jbm Builders Private Limited |
3030832 |
7.43 |
|
|
Nap Investment And Leasing Private Limited |
2274616 |
5.58 |
|
|
Shuklamber Exports Limited |
3424824 |
8.40 |
|
|
Smc Credits Limited |
7570260 |
18.56 |
|
|
Jbm Industries Limited |
720 |
0.00 |
|
|
Sub Total A1 |
25275199 |
61.96 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
25275199 |
61.96 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name
of the Shareholders |
Total no. shares
held |
Shareholding %
calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
104473 |
0.26 |
|
|
Foreign Portfolio Investors |
193089 |
0.47 |
|
|
Financial Institutions/ Banks |
5371 |
0.01 |
|
|
Insurance Companies |
4320 |
0.01 |
|
|
Sub Total B1 |
307253 |
0.75 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
4248210 |
10.41 |
|
|
Individual share capital in excess of INR 0.200 Million |
1753750 |
4.30 |
|
|
Anil Kumar Goel |
630000 |
1.54 |
|
|
NBFCs registered with RBI |
1380 |
0.00 |
|
|
Any Other (specify) |
9209572 |
22.58 |
|
|
Zeal Impex And Traders Private Limited |
4018968 |
9.85 |
|
|
Amity Infotech Private Limited |
4000000 |
9.81 |
|
|
Non-Resident Indian (NRI) |
288352 |
0.71 |
|
|
Trusts |
400 |
0.00 |
|
|
IEPF |
63100 |
0.15 |
|
|
Sub Total B3 |
15212912 |
37.29 |
|
|
B=B1+B2+B3 |
15520165 |
38.04 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the automotive business that manufactures
and sell sheet metal components, tools dies and moulds and buses including
sale of spare parts, accessories and maintenance contract of Buses. [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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|
||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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|
No. of Employees
: (As on
31.03.2017) |
817 (Approximately) |
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Bankers : |
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Facilities : |
Note: (As on
31.03.2017) LONG TERM BORROWINGS
SHORT TERM BORROWINGS
|
|
Banking Relations
: |
|
|
|
|
|
Auditor 1 : |
|
|
Name : |
Mehra Goel and Company Chartered Accountants |
|
Address: |
505, Chiranjiv Tower, 43 Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
91-11-26419527/ 26430349 |
|
Fax No.: |
91-11-26217981 |
|
Email: |
|
|
|
|
|
Auditor 2 : |
|
|
Name : |
Sahni Natarajan and Bahl Chartered Accountants |
|
Address: |
303, Mansarovar, 90, Nehru Place, New Delhi-110019, India |
|
Tel. No.: |
91-11-26433003 / 04 |
|
Fax No.: |
91-11-26484835 |
|
Email: |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary
Companies : (As on 31.03.2017) |
CIN No.: U27100DL2009PLC187584
CIN No.: U34300DL1998PTC314334
CIN No.: U34300DL2016PTC315153 |
|
|
|
|
Joint Ventures : (As on 31.03.2017) |
CIN No.: U29220PN2007PTC155874
CIN No.: U28931MP2008PTC034503 |
CAPITAL STRUCTURE
AS ON 31.03.2018
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 204.000 Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000000 |
Equity Shares |
INR 5/- each |
INR 400.000 Million |
|
10000000 |
Preference Shares |
INR 10/- each |
INR 100.000 Million |
|
|
TOTAL |
|
INR 500.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40795364 |
Equity Shares |
INR 5/- each |
INR 203.977 Million |
|
10000000 |
Preference Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
INR 303.977
Million |
LISTING DETAILS:
|
Subject Stock
Code : |
BSE : 532605 NSE : JBMA ISIN: INE 927D 01028 |
|
Stock Exchange Place : |
|
|
|
|
|
Listing Date: |
Not Available |
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 |
204.000 |
303.977 |
303.977 |
|
(b) Reserves &
Surplus |
1911.500 |
2176.714 |
1774.713 |
|
(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) |
2115.500 |
2480.691 |
2078.690 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1525.900 |
783.850 |
778.709 |
|
(b) Deferred tax
liabilities (Net) |
142.200 |
299.515 |
218.689 |
|
(c) Other long term
liabilities |
71.000 |
4.858 |
4.363 |
|
(d) long-term provisions |
28.000 |
20.331 |
11.574 |
|
Total Non-current
Liabilities (3) |
1767.100 |
1108.554 |
1013.335 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1545.400 |
1321.561 |
1296.066 |
|
(b) Trade payables |
1528.200 |
1692.601 |
2061.435 |
|
(c) Other current
liabilities |
922.100 |
748.023 |
651.906 |
|
(d) Short-term provisions |
10.400 |
17.099 |
87.481 |
|
Total Current Liabilities
(4) |
4006.100 |
3779.284 |
4096.888 |
|
|
|
|
|
|
TOTAL |
7888.700 |
7368.529 |
7188.913 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2142.000 |
2307.030 |
2347.392 |
|
(ii) Intangible Assets |
507.900 |
530.365 |
509.522 |
|
(iii) Capital
work-in-progress |
214.700 |
38.748 |
69.050 |
|
(iv) Intangible assets
under development |
411.400 |
306.217 |
172.782 |
|
(b) Non-current
Investments |
761.400 |
713.358 |
713.278 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
20.100 |
235.304 |
146.724 |
|
(e) Other Non-current
assets |
149.900 |
0.000 |
0.000 |
|
Total Non-Current Assets |
4207.400 |
4131.022 |
3958.748 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1431.100 |
1215.137 |
1575.873 |
|
(c) Trade receivables |
1898.800 |
1576.313 |
1215.263 |
|
(d) Cash and cash
equivalents |
9.800 |
5.880 |
29.825 |
|
(e) Short-term loans and
advances |
0.000 |
274.559 |
148.266 |
|
(f) Other current assets |
341.600 |
165.618 |
260.938 |
|
Total Current Assets |
3681.300 |
3237.507 |
3230.165 |
|
|
|
|
|
|
TOTAL |
7888.700 |
7368.529 |
7188.913 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
7889.600 |
6979.811 |
5669.450 |
|
|
Other Income |
108.100 |
108.784 |
112.230 |
|
|
TOTAL |
7997.700 |
7088.595 |
5781.680 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
5244.300 |
4570.657 |
4260.704 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(41.700) |
191.375 |
(537.273) |
|
|
Employees benefits
expense |
849.600 |
786.743 |
716.317 |
|
|
Excise duty |
231.800 |
0.000 |
0.000 |
|
|
Exceptional items |
0.000 |
(110.500) |
0.000 |
|
|
Other expenses |
719.500 |
664.429 |
600.180 |
|
|
TOTAL |
7003.500 |
6102.704 |
5039.928 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
994.200 |
985.891 |
741.752 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
270.000 |
259.153 |
284.059 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
724.200 |
726.738 |
457.693 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
250.400 |
232.922 |
210.068 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
473.800 |
493.816 |
247.625 |
|
|
|
|
|
|
|
Less |
TAX |
152.800 |
91.815 |
1.358 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
321.000 |
402.001 |
246.267 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
NA |
1194.890 |
1040.258 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Dividend on Preference
share Paid |
NA |
0.000 |
2.951 |
|
|
Dividend on Preference
share Proposed |
NA |
0.000 |
5.049 |
|
|
Dividend on Equity Shares
Proposed |
NA |
0.000 |
71.392 |
|
|
Dividend Tax - Equity
Shares |
NA |
0.000 |
7.243 |
|
|
Transfer to General
Reserve |
NA |
5.000 |
5.000 |
|
|
Total |
NA |
5.000 |
91.635 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
NA |
1591.891 |
1194.890 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
44.270 |
28.219 |
|
|
TOTAL EARNINGS |
NA |
44.270 |
28.219 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
20.865 |
126.620 |
|
|
Stores & Spares |
NA |
0.690 |
8.900 |
|
|
Capital Goods |
NA |
2.485 |
4.455 |
|
|
TOTAL IMPORTS |
NA |
24.040 |
139.975 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
7.87 |
9.62 |
5.84 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
426.933 |
353.561 |
|
Cash generated from operations |
NA |
628.827 |
890.280 |
|
Net Cash From Operating Activities |
NA |
539.665 |
828.937 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors
/ Income * 365) |
87.85 |
82.43 |
78.24 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
4.16 |
4.43 |
4.67 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
106.36 |
135.17 |
176.60 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.69 |
0.81 |
0.47 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.30 |
0.31 |
0.24 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.70 |
0.68 |
0.73 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.45 |
1.02 |
1.17 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.89 |
1.52 |
1.97 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.55 |
1.28 |
1.49 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.68 |
3.80 |
2.61 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin [(PAT / Sales) * 100] |
% |
4.07 |
5.76 |
4.34 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.07 |
5.46 |
3.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
15.17 |
16.21 |
11.85 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.92 |
0.86 |
0.79 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.56 |
0.54 |
0.40 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.27 |
0.34 |
0.29 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
15.06 |
8.33 |
7.99 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.92 |
0.86 |
0.79 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 5.00/- |
|
Market Value |
INR 358.65/- |
FINANCIAL ANALYSIS
[all figures are
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 |
303.977 |
303.977 |
204.000 |
|
Reserves & Surplus |
1774.713 |
2176.714 |
1911.500 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2078.690 |
2480.691 |
2115.500 |
|
|
|
|
|
|
Long-term borrowings |
778.709 |
783.850 |
1525.900 |
|
Short term borrowings |
1296.066 |
1321.561 |
1545.400 |
|
Total borrowings |
2074.775 |
2105.411 |
3071.300 |
|
Debt/Equity ratio |
0.998 |
0.849 |
1.452 |
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 |
5669.450 |
6979.811 |
7889.600 |
|
|
|
23.113 |
13.035 |
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 |
5669.450 |
6979.811 |
7889.600 |
|
Profit |
246.267 |
402.001 |
321.000 |
|
|
4.34% |
5.76% |
4.07% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2018 |
31.03.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
204.000 |
303.977 |
|
(b) Reserves &
Surplus |
|
3969.500 |
3891.597 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
(3) Non-controlling
interest |
|
733.700 |
825.083 |
|
Total Shareholders’ Funds
(1) + (2) |
|
4907.200 |
5020.657 |
|
|
|
|
|
|
(4) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2252.900 |
1516.276 |
|
(b) Deferred tax
liabilities (Net) |
|
357.300 |
662.073 |
|
(c) Other long term
liabilities |
|
72.700 |
172.528 |
|
(d) long-term provisions |
|
50.300 |
34.388 |
|
Total Non-current
Liabilities (3) |
|
2733.200 |
2385.265 |
|
|
|
|
|
|
(5) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2756.400 |
2971.440 |
|
(b) Trade payables |
|
2568.900 |
3635.505 |
|
(c) Other current
liabilities |
|
1364.500 |
1658.391 |
|
(d) Short-term provisions |
|
17.700 |
39.847 |
|
Total Current Liabilities
(4) |
|
6707.500 |
8305.183 |
|
|
|
|
|
|
TOTAL |
|
14347.900 |
15711.105 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
5067.500 |
6633.298 |
|
(ii) Intangible Assets |
|
510.900 |
535.058 |
|
(iii) Capital
work-in-progress |
|
221.600 |
90.647 |
|
(iv) Intangible assets
under development |
|
411.400 |
314.941 |
|
(b) Non-current
Investments |
|
135.500 |
161.949 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
3.144 |
|
(d) Long-term Loan and Advances |
|
52.700 |
518.801 |
|
(e) Other Non-current
assets |
|
948.700 |
0.000 |
|
Total Non-Current Assets |
|
7348.300 |
8257.838 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
2351.800 |
2557.129 |
|
(c) Trade receivables |
|
3549.700 |
3550.036 |
|
(d) Cash and cash
equivalents |
|
24.800 |
28.512 |
|
(e) Short-term loans and
advances |
|
0.000 |
1023.411 |
|
(f) Other current assets |
|
1073.300 |
294.179 |
|
Total Current Assets |
|
6999.600 |
7453.267 |
|
|
|
|
|
|
TOTAL |
|
14347.900 |
15711.105 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
16870.100 |
17902.302 |
|
|
Other Income |
|
109.000 |
105.448 |
|
|
TOTAL |
|
16979.100 |
18007.750 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
11427.300 |
12225.420 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
6.900 |
193.923 |
|
|
Employees benefits
expense |
|
1655.000 |
1953.183 |
|
|
Excise duty |
|
541.300 |
0.000 |
|
|
Share of profit of joint
ventures/associates |
|
(134.500) |
0.000 |
|
|
Exceptional items |
|
0.000 |
(110.500) |
|
|
Other expenses |
|
1202.900 |
1613.618 |
|
|
TOTAL |
|
14698.900 |
15875.644 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
2280.200 |
2132.106 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
485.800 |
529.133 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
1794.400 |
1602.973 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION
|
|
555.700 |
607.553 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
1238.700 |
995.420 |
|
|
|
|
|
|
|
Less |
TAX |
|
427.400 |
257.854 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
811.300 |
737.566 |
|
|
|
|
|
|
|
Add |
Share of (Profit)/
Loss transferred to Minority Interest |
|
NA |
(78.744) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) FOR THE
PERIOD |
|
811.300 |
658.822 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
17.27 |
15.91 |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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) |
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 |
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 |
No |
|
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 |
CORPORATE GENERAL
INFORMATION (As on 31.03.2017)
The “Company” is a public limited company incorporated under the Indian Companies Act 1956 having its registered office at 601, Hemkunt chambers, 89, Nehru place, New Delhi. The Company is engaged in the automotive business that manufactures and sell sheet metal components, tools dies and moulds and buses including sale of spare parts, accessories and maintenance contract of Buses. The company is listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
UNSECURED LOANS:
|
PARTICULAR |
31.03.2018 INR In Million |
31.03.2017 INR In Million |
|
Long-term
Borrowings |
|
|
|
Inter Corporate Deposit |
NA |
400.000 |
|
Less: Current Maturities |
NA |
133.333 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Loans from Banks |
|
|
|
-Working Capital Loan |
NA |
273.379 |
|
Total |
NA |
540.046 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G77467306 |
100155894 |
BAJAJ FINANCE LIMITED |
06/02/2018 |
- |
500000000.0 |
Akurdi, Pune-411035, Maharashtra India |
|
2 |
G78154044 |
100157491 |
IDFC BANK LIMITED |
01/02/2018 |
- |
250000000.0 |
KRM Tower, 7th Floor, No. 1 Harrington Road, Chetpet, Chennai-600031, Tamilnadu, India |
|
3 |
G77378925 |
100155721 |
HDFC BANK LIMITED |
23/01/2018 |
- |
250000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
4 |
G69208783 |
100138299 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
13/11/2017 |
- |
250000000.0 |
One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai-400001, Maharashtra, India |
|
5 |
C62484951 |
10587781 |
RBL Bank Limited |
24/08/2015 |
- |
50000000.0 |
Shahupuri, Kolhapur-416001, Maharashtra, India |
|
6 |
G31863541 |
10587773 |
RBL BANK LIMITED |
24/08/2015 |
20/06/2016 |
200000000.0 |
Shahupuri, Kolhapur-416001, Maharashtra, India |
|
7 |
G04986006 |
10533554 |
INDUSIND BANK LTD. |
07/11/2014 |
30/03/2016 |
250000000.0 |
Dr. Gopal Das, Building 28, Barakhamba Road, New Delhi-110001, India |
|
8 |
G02192466 |
10517994 |
KOTAK MAHINDRA BANK LIMITED |
08/08/2014 |
29/03/2016 |
250000000.0 |
Kotak Aerocity, IBIS Commercial Block, Asset Area 9, Hospitality District Delhi, Aerocity, New Delhi-110037, India |
|
9 |
G11463239 |
10514946 |
YES BANK LIMITED |
25/07/2014 |
30/03/2016 |
300000000.0 |
9th Floor, Nehru Centre Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India |
|
10 |
C04461745 |
10494346 |
HDFC BANK LIMITED |
05/03/2014 |
- |
100000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
|
Claims against the
Company not acknowledged as debt |
|
|
|
Income Tax Matters |
NA |
80.440 |
|
Excise and Service tax Matters |
NA |
93.478 |
|
Sales tax and VAT Matters |
NA |
5.023 |
|
Total |
NA |
178.941 |
FIXED ASSETS:
Tangible Assets
- Land
- Building
- Plant and Machinery
- Furniture and Fixture
- Office Equipments
- Computer
- Vehicles
Intangible Assets
- Computer Software
CMT REPORT (Corruption Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts India Prisons Service Interpol
etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized blocked frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners controlling shareholders
director officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management its Board of Directors Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws
regulations or policies that prohibit restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 68.15 |
|
UK Pound |
1 |
INR 90.27 |
|
Euro |
1 |
INR 79.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
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 |
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.