|
|
|
MIRA INFORM REPORT
|
Report No. : |
517048 |
|
Report Date : |
27.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
INDO SHELL CAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A14, SIDCO Industrial Estate, Coimbatore -641021,
Tamilnadu |
|
Tel. No.: |
91-422-3041600/2679049 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
21.07.1987 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310TZ1987PTC002013 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 7.000 Million |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI4299N |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Shell Moulded Alloy Shell Castings etc. [Registered Activity] |
|
|
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2006 having
good track records. As per the Registrar of Companies date of balance sheet (i.e.
financial filed) is shown as 31.03.2017 but the documents related to financial
for the year 2017 are not available from any sources. As per available financials of 2016, revenue of the company has
slightly declined but reported growth in its profit and has achieved fair
profile margin at 3.66% (approx.). The company possesses sound financial profile marked by healthy net
worth base along with low debt level and favourable gap between trade
payables to its trade receivables. Further, as per indirect source we could find that the company has
achieved healthy revenue of INR 1195.000 million and reported profit of INR
41.600 million during FY 2017. Trade relations are reported as fair. Business is active. Payment
terms are seems to be regular and as per commitments. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term rating: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
19.03.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating: A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
19.03.2018 |
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 27.06.2018
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 (91-422-3041600/2679049)
91-80-42605501/42605502/10 – does not belongs to Subject Company.
LOCATIONS
|
Registered Office : |
A14, SIDCO Industrial Estate, Coimbatore -641021,
Tamilnadu, India |
|
Tel. No.: |
91-422-3041600/2679049 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website: |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Ramprakash Jagadeesan |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
70,71, Krishna Colony Trichy Road, Singanallur, Coimbatore
- 641005, Tamilnadu, India |
||||||||||||||||
|
Date of Birth/Age : |
29.01.1977 |
||||||||||||||||
|
Qualification: |
BE |
||||||||||||||||
|
Date of Appointment : |
22.02.2001 |
||||||||||||||||
|
DIN No.: |
00001586 |
||||||||||||||||
|
PAN No.: |
ADZPR6087J |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Jagadeesan Ganeshkumar |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
No 70, 71, Krishna Colony Trichy Road, Singanallur,
Coimbatore - 641005, Tamilnadu, India |
||||||||||||||||
|
Date of Birth/Age : |
28.08.1972 |
||||||||||||||||
|
Qualification: |
MCA |
||||||||||||||||
|
Date of Appointment : |
22.02.2001 |
||||||||||||||||
|
DIN No.: |
01752672 |
||||||||||||||||
|
PAN No.: |
AEXPJ8348F |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Siddhanaickenpalayam Venkitasamynaidu Jagadeesan |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
70,71, Krishna Colony Trichy Road, Singanallur, Coimbatore
- 641005, Tamilnadu, India |
||||||||||||||||
|
Date of Birth/Age : |
16.06.1946 |
||||||||||||||||
|
Qualification: |
DME |
||||||||||||||||
|
Date of Appointment : |
01.07.2017 |
||||||||||||||||
|
DIN No.: |
00001578 |
||||||||||||||||
|
PAN No.: |
AAZPJ2648G |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Pushpaveni Jagadeesan |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
70, Krishna Colony Trichy Road, Singanallur, Coimbatore -
641005, Tamilnadu, India |
||||||||||||||||
|
Date of Birth/Age : |
16.09.1951 |
||||||||||||||||
|
Qualification: |
Under Graduate |
||||||||||||||||
|
Date of Appointment : |
22.02.2001 |
||||||||||||||||
|
DIN No.: |
00458409 |
||||||||||||||||
|
PAN No.: |
AFOPP6668Q |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
S V Jagadesan |
|
20000 |
|
J Puspaveni |
|
20000 |
|
J Ganeshkumar |
|
10000 |
|
J Ramprakash |
|
10000 |
|
Unique Shell Mould India Private Limited, India |
|
10000 |
|
Total |
|
70000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
85.71 |
|
Promoters- Body corporate |
14.29 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Shell Moulded Alloy Shell Castings etc. [Registered Activity] |
||||
|
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|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
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|
|
|
||||
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Exports : |
Not Divulged |
||||
|
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|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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|
||||||||||||||||||||||
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No. of Employees : |
Information denied by the management |
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
VKS Aiyer and Company Chartered Accountants |
|
Address : |
No.34, "A S Apartments", Bharathi Park, 8th Cross, Saibaba Colony, Coimbatore - 641 011, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFV1533H |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates in which
control exists (AS ON 31.03.2016): |
|
|
|
|
|
Entities in which
investment is made (AS ON 31.03.2016): |
|
|
|
|
|
Entities in which
Key Managerial personnel and/or their relatives having significant influence
(AS ON 31.03.2016): |
|
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75,000 |
Equity Shares |
INR 100/- each |
INR 7.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70,000 |
Equity Shares |
INR 100/- each |
INR 7.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7.000 |
7.000 |
7.000 |
|
(b) Reserves and Surplus |
300.616 |
263.232 |
237.173 |
|
(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) |
307.616 |
270.232 |
244.173 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
58.882 |
54.163 |
41.781 |
|
(b) Deferred tax liabilities (Net) |
10.820 |
15.534 |
16.140 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
10.250 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
69.702 |
69.697 |
68.171 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
78.116 |
97.502 |
101.786 |
|
(b) Trade
payables |
107.347 |
102.983 |
118.071 |
|
(c) Other
current liabilities |
45.003 |
41.640 |
40.385 |
|
(d) Short-term provisions |
6.045 |
4.764 |
5.373 |
|
Total Current
Liabilities (4) |
236.511 |
246.889 |
265.615 |
|
|
|
|
|
|
TOTAL |
613.829 |
586.818 |
577.959 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
201.859 |
186.219 |
172.181 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
4.579 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
13.478 |
10.355 |
9.621 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
30.504 |
23.857 |
17.622 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
245.841 |
220.431 |
204.003 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
44.477 |
45.715 |
51.564 |
|
(c) Trade
receivables |
287.807 |
287.350 |
300.859 |
|
(d) Cash and
bank balances |
6.109 |
1.200 |
1.070 |
|
(e)
Short-term loans and advances |
25.901 |
29.218 |
17.807 |
|
(f) Other
current assets |
3.694 |
2.904 |
2.656 |
|
Total
Current Assets |
367.988 |
366.387 |
373.956 |
|
|
|
|
|
|
TOTAL |
613.829 |
586.818 |
577.959 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
1089.242 |
1219.744 |
1102.619 |
|
|
Other Income |
2.423 |
2.403 |
2.080 |
|
|
TOTAL |
1091.665 |
1222.147 |
1104.699 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
459.731 |
578.226 |
495.609 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1.378) |
8.591 |
8.043 |
|
|
Employee benefit expense |
97.407 |
95.302 |
85.592 |
|
|
Expenditure on production, transportation
and Other expenditure pertaining to
exploration and production activities |
212.797 |
209.285 |
185.239 |
|
|
Other expenses |
240.374 |
244.676 |
226.238 |
|
|
Exceptional items before tax |
0.000 |
0.000 |
(0.054) |
|
|
TOTAL |
1008.931 |
1136.080 |
1000.667 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
82.734 |
86.067 |
104.032 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
21.972 |
22.024 |
20.234 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
60.762 |
64.043 |
83.798 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
16.293 |
29.165 |
25.819 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
44.469 |
34.878 |
57.979 |
|
|
|
|
|
|
|
Less |
TAX |
4.557 |
6.291 |
13.580 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
39.912 |
28.587 |
44.399 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
177.040 |
150.981 |
113.439 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Provision for equity dividend |
2.100 |
2.100 |
2.100 |
|
|
Provision for tax on corporate
dividend – Current Year |
0.428 |
0.428 |
0.357 |
|
|
Amount Transferred to Reserve |
0.000 |
0.000 |
4.400 |
|
|
Balance
Carried to the B/S |
214.424 |
177.040 |
150.981 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
570.17 |
408.39 |
634.27 |
|
Particulars |
|
|
31.03.2017 |
|
|
|
|
|
|
TOTAL OPERATING
INCOME |
|
|
1195.000 |
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (PAT) |
|
|
41.600 |
Note: Above information
has been taken from indirect source i.e “CARE”
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
6.263 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
57.971 |
40.177 |
54.232 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
80.965 |
66.867 |
63.422 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
96.44 |
85.99 |
99.59 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.78 |
4.24 |
3.66 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
85.23 |
65.01 |
86.96 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.86 |
1.88 |
2.02 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.41 |
0.46 |
0.59 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.48 |
0.51 |
0.54 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.45 |
0.56 |
0.61 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.77 |
0.91 |
1.09 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.66 |
0.69 |
0.72 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.77 |
3.91 |
5.14 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.66 |
2.34 |
4.03 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.50 |
4.87 |
7.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
12.97 |
10.58 |
18.18 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.56 |
1.48 |
1.41 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.37 |
1.30 |
1.21 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.50 |
0.46 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
19.57 |
21.67 |
21.40 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.56 |
1.48 |
1.41 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
7.000 |
7.000 |
7.000 |
|
Reserves & Surplus |
237.173 |
263.232 |
300.616 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
244.173 |
270.232 |
307.616 |
|
|
|
|
|
|
Long-term borrowings |
41.781 |
54.163 |
58.882 |
|
Short term borrowings |
101.786 |
97.502 |
78.116 |
|
Current maturities of
long-term debts |
6.263 |
0.000 |
0.000 |
|
Total
borrowings |
149.830 |
151.665 |
136.998 |
|
Debt/Equity
ratio |
0.614 |
0.561 |
0.445 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1102.619 |
1219.744 |
1089.242 |
|
|
|
10.622 |
(10.699) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1102.619 |
1219.744 |
1089.242 |
|
Profit/ (Loss) |
44.399 |
28.587 |
39.912 |
|
|
4.03
% |
2.34
% |
3.66
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
7.000 |
7.000 |
|
(b) Reserves and Surplus |
|
337.904 |
263.232 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
344.904 |
270.232 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
58.882 |
54.163 |
|
(b) Deferred tax liabilities (Net) |
|
10.820 |
15.534 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
69.702 |
69.697 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
78.116 |
97.502 |
|
(b) Trade
payables |
|
107.347 |
102.983 |
|
(c) Other
current liabilities |
|
45.003 |
41.640 |
|
(d) Short-term
provisions |
|
6.045 |
4.764 |
|
Total Current
Liabilities (4) |
|
236.511 |
246.889 |
|
|
|
|
|
|
TOTAL |
|
651.117 |
586.818 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
201.859 |
186.219 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
50.766 |
10.355 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
30.504 |
23.857 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
283.129 |
220.431 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
44.477 |
45.715 |
|
(c) Trade
receivables |
|
287.807 |
287.350 |
|
(d) Cash and
bank balances |
|
6.109 |
1.200 |
|
(e)
Short-term loans and advances |
|
25.901 |
29.218 |
|
(f) Other
current assets |
|
3.694 |
2.904 |
|
Total
Current Assets |
|
367.988 |
366.387 |
|
|
|
|
|
|
TOTAL |
|
651.117 |
586.818 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
1089.242 |
1219.744 |
|
|
Other Income |
|
11.588 |
2.403 |
|
|
TOTAL |
|
1100.830 |
1222.147 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
459.730 |
578.226 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(1.378) |
8.591 |
|
|
Employee benefit expense |
|
97.407 |
95.302 |
|
|
Expenditure on production, transportation
and Other expenditure pertaining to
exploration and production activities |
|
212.798 |
209.285 |
|
|
Other expenses |
|
240.374 |
244.676 |
|
|
TOTAL |
|
1008.931 |
1136.080 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
91.899 |
86.067 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
21.972 |
22.024 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
69.927 |
64.043 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
16.293 |
29.165 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
53.634 |
34.878 |
|
|
|
|
|
|
|
Less |
TAX |
|
4.557 |
6.291 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
49.077 |
28.587 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
701.10 |
408.39 |
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 |
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 |
No |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last four 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 |
REVIEW OF OPERATION
During the year, the Company achieved lower volume / value of turnover of INR 1089.242 Million (Last Year INR 1219.744 Million) from sale of products. The sales include exports turnover of INR 106.260 Million as against INR 104.567 Million in the previous year. However the Company could substantially improve the revenue from job work by carrying out machining of components on behalf of an associate concern, which substantially increased to INR 15.681 Million (Last year INR 7.499 Million).
The Electric Energy generated from Wind Mills (2 Nos) consumed captively wholly for foundry division, substituting purchased power for a value of INR 5.674 Million (Last year INR 5.882 Million). The Company also made a turnover of INR 0.653 Million (Last Year 0.581 Million) from sale of Solar Energy to associate.
Due to the depressed market conditions, the Company could not achieve a higher turnover and the Directors are hopeful of getting better results in future.
In view of the higher volume of revenue from job work, the Company could maintain its profitability at satisfactory level in spite of lower volume of sales of products. The performance of the Company should be considered as satisfactory.
FUTURE PROSPECTS
That with an expected improvement in the overall economic environment and revival of demand for two wheelers, the company is hopeful of achieving further growth both in volume of production and sales in the year ahead.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2016 |
As
on 31.03.2015 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from directors |
23.600 |
22.100 |
|
Total |
23.600 |
22.100 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G64256662 |
100135589 |
CITI BANK N.A. |
05/09/2017 |
- |
- |
60000000.0 |
TRISTAR TOWERS,
AVINASHI ROADPLOT NO. 657COIMBATORETN641037IN |
|
2 |
G02110880 |
100022023 |
CITI BANK N.A. |
31/12/2015 |
- |
- |
40000000.0 |
PLOT NO. 657,TRISTAR
TOWER, AVINASHI ROAD,COIMBATORETN641037IN |
|
3 |
C75108944 |
10539437 |
CITI BANK N.A. |
24/12/2014 |
31/12/2015 |
- |
80000000.0 |
PLOT NO.
657,TRISTAR TOWER, AVINASHI ROAD,COIMBATORETN641037IN |
|
4 |
C36190106 |
90001308 |
BANK OF INDIA |
21/03/2002 |
11/11/2014 |
- |
143200000.0 |
COIMBATORE MAIN
BRANCH324, OPPANAKARA STREETCOIMBATORETN641001IN |
|
5 |
C19673847 |
90001808 |
GLOBAL TRADE
FINANCE PVT LTD. |
25/02/2005 |
- |
19/08/2014 |
91900000.0 |
6TH FLOOR; METROPOLITAN
BUILDINGBANDRA KURLA COMPLEX; BANDRA (E)MUMBAIMH400051IN |
|
6 |
C02609956 |
10187372 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
13/11/2009 |
- |
10/04/2014 |
9500000.0 |
GOWTHAM
CENTRE1055/7, AVINASHI ROADCOIMBATORETN641018IN |
|
7 |
A18343079 |
90001421 |
CENTURION BANK
LIMITED |
14/02/2003 |
- |
07/07/2007 |
455000.0 |
AVANASHI
ROADCOIMBATORETN641018IN |
|
8 |
Y10064844 |
90000829 |
STATE BANK OF
INDIA |
26/03/1998 |
22/05/1998 |
18/04/2005 |
5000000.0 |
S.S.I. BRANCHKURICHICOIMBATORETN641021IN |
FIXED ASSETS:
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 68.17 |
|
|
1 |
INR 90.47 |
|
Euro |
1 |
INR 79.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
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.