|
|
|
MIRA INFORM REPORT
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Report No. : |
517238 |
|
Report Date : |
28.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
STANLEY ENGINEERED FASTENING INDIA PRIVATE LIMITED (w.e.f. 01.04.2014) |
|
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|
Formerly Known
As : |
EMHART TEKNOLOGIES (INDIA) PRIVATE LIMITED |
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Registered
Office : |
No 55, Chennai-Bangalore Highway, Thandalam Village, Sriperumpudur Taluk, Kanchipuram – 602105, Tamilnadu |
|
Tel. No.: |
91-44-37105622/ 43060639 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
09.09.2008 |
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|
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|
CIN No.: [Company Identification
No.] |
U72900TN2008FTC101445 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 77.191 Million |
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|
|
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PAN No.: [Permanent Account No.] |
AACCE0728L |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
33AACCE0728L1ZT (Tamilnadu) 27AACCE0728L1ZM (Maharashtra) 06AACCE0728L1ZQ (Haryana) 19AACCE0728L1ZJ (West Bengal) |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The
Company is engaged in trading and manufacturing of fastening assembly
solutions including installation tools, components, industrial fasteners and
allied products. [Registered
Activity] |
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|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 1980000 |
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|
|
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “Black and Decker Overseas
Holding B.V”, Netherlands. The company was incorporated in the year 2008. For the financial year 2017, the company has achieved 30.84% growth in
its revenue as compared to previous year revenue and has maintained healthy
profitability margin of 7.59% during the year under review. The sound financial profile of the company is marked by adequate
networth base along with strong debt coverage indicators due to debt free
balance sheet profile. Rating takes into account the strong financial and managerial support
that the company receives from its holding entity backed by its well
experienced management team. Business is active. 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
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 28.06.2018
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 (91-44-43060639)
LOCATIONS
|
Registered Office : |
No 55, Chennai-Bangalore Highway, Thandalam Village, Sriperumpudur Taluk, Kanchipuram – 602105, Tamilnadu, India |
|
Tel. No.: |
91-44-37105622/ 43060639 |
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Fax No.: |
91-44-43060768 |
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E-Mail : |
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Website : |
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Head Office : |
Apex Towers, 6th Floor, No. 54, 2nd Main Road, R.A. Puram, Chennai – 600028, Tamilnadu, India |
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Tel. No.: |
91-44-43437100 |
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Fax No.: |
91-44-43060768 |
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|
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Factory 1 / Warehouse 1 : |
Plot No 165/166, Road No. 27, Wagle Industrial Estate, Thane – 400604, Maharashtra, India |
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Tel. No.: |
91-22-41134347 |
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Fax No.: |
91-22-25825365 |
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Factory 2 / Warehouse 2 : |
Plot No. 0Z-14, Hitech SEZ, Sipcot Industrial Growth Centre, Oragadam, Sriperumbudur Taluk, Kanchipuram District – 602105, Tamilnadu, India |
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Tel. No.: |
91-44-47118006 |
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Warehouse 3 : |
116, Devaneri Village, Sholavaram Post, Ponneri Taluk, Chennai – 600067, Tamilnadu, India |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Vignesh Shankaran Rajaram |
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Designation : |
Managing Director |
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Address : |
No : 6 / 21, Saffron, 3rd Floor, V P Colony, 3rd Cross Street, Near
Karnataka Bank, A Yanavaram, Chennai – 600023, Tamilnadu, India |
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PAN No.: |
10.11.2017 |
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DIN No.: |
02803903 |
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Other Directorship:
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Name : |
Kevin Vince Fernando |
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Designation : |
Additional Director |
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Address : |
BLK 8 Kinsington Park Drive #12-06, Singapore 557323 |
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Date of Appointment : |
28.09.2017 |
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DIN No.: |
01987591 |
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Other Directorship:
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Name : |
Mr. Rangaraju Sivasubramaniyan |
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Designation : |
Additional Director |
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|
Address : |
9a, Ishwarya Garden, 6th Main Road, Kurinji Nagar, Perungalathur, Chennai
– 600063, Tamilnadu, India |
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Date of Appointment : |
28.09.2017 |
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DIN No.: |
06475848 |
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Other Directorship:
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Name : |
Mr. Gopalakrishnan Balasubramaniam |
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Designation : |
Additional Director |
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Address : |
6, Ridgewood Cl 15-07, Singapore 276697 |
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Date of Appointment : |
28.09.2017 |
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DIN No.: |
07727004 |
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|
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Name : |
Mr. Arjun Sridharan |
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Designation : |
Director |
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Address : |
No. 8B, Block 3, Shyamala Garden 136, Arcot Road, Near Avichi School,
Sali Gramam, Chennai – 600093, Tamilnadu, India |
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Date of Birth/Age : |
06.09.1975 |
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Date of Appointment : |
09.12.2016 |
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PAN No.: |
AUTPS5999K |
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DIN No.: |
07331476 |
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KEY EXECUTIVES
|
Name : |
Mr. Senthil Kumar K |
|
Designation : |
Company Secretary |
|
Address : |
3, Ramakrishna Street, Pammal, Chennai – 600075, Tamilnadu, India |
|
Date of Birth/Age : |
10.06.1982 |
|
Date of Appointment : |
25.09.2015 |
|
PAN No.: |
EDIPS0508E |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Black and Decker Overseas Holding B.V, Netherlands |
|
7719024 |
|
Stanley Black and Decker Netherlands B.V., Netherlands |
|
30 |
|
|
|
|
|
Total |
|
7719054 |
LIST OF ALLOTTEES:
AS ON 15.12.2017
|
Names of Allottee |
|
No. of Shares |
|
Black and Decker Overseas Holding B.V, Netherlands |
|
5891076 |
|
|
|
|
|
Total |
|
5891076 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The
Company is engaged in trading and manufacturing of fastening assembly solutions
including installation tools, components, industrial fasteners and allied
products. [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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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Auditors : |
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|
Name : |
M K Dandeker and Company Chartered Accountants |
|
Address : |
No
244 (Old No.138) 2nd Floor, Angappa Naicken Street, Chennai – 600001,
Tamilnadu, India |
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PAN No.: |
AAAFM0865H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
·
Black and Decker Overseas Holding B.V,
Netherlands |
|
|
|
|
Associates/Subsidiaries : |
· Emhart Teknologies LLC, USA · Shanghai Emhart Fastening System Company Limited, China · Emhart Teknologies Nippon POP Rivets and Fasteners Limited · Emhart Teknologies Tucker GmbH · Guangzhou Emhart Fastening Systems Company Limited, China · Emhart Teknologies · Stanley Assembly Teknologies · Emhart Teknologies · Avdel UK Limited · Infastech Fastening System Wuxi China · Spirallock Corporation USA · Avdel Italy · Infastech Australia · Infastech Tri Star Taiwan · Stanley Black and Decker India Private Limited · Infastech Malaysia SDN BHD · Infastech Singapore Pte. Limited · Stanley Chiro International Limited, Taiwan · Infastech Intellectual Properties Pte. Limited · Stanley Security Solutions India Private Limited · Emhart Shanghai ·
Emhart Teknologies, Group Management |
CAPITAL STRUCTURE
AFTER 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95260000 |
Equity Shares |
INR 10/- each |
INR 952.600 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13610130 |
Equity Shares |
INR 10/- each |
INR 136.101 Million |
|
|
|
|
|
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95260000 |
Equity Shares |
INR 10/- each |
INR 952.600 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7719054 |
Equity Shares |
INR 10/- each |
INR 77.191 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
77.191 |
77.191 |
771.905 |
|
(b) Reserves & Surplus |
616.079 |
540.496 |
876.215 |
|
(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) |
693.270 |
617.687 |
1648.120 |
|
|
|
|
|
|
(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 |
8.691 |
9.033 |
0.000 |
|
Total Non-current
Liabilities (3) |
8.691 |
9.033 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
300.433 |
244.988 |
30.144 |
|
(c) Other
current liabilities |
20.354 |
21.787 |
354.096 |
|
(d) Short-term
provisions |
0.963 |
1.149 |
10.882 |
|
Total Current
Liabilities (4) |
321.750 |
267.924 |
395.122 |
|
|
|
|
|
|
TOTAL |
1023.711 |
894.644 |
2043.242 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
80.485 |
103.780 |
75.664 |
|
(ii)
Intangible Assets |
0.672 |
1.407 |
0.325 |
|
(iii)
Capital work-in-progress |
11.615 |
0.000 |
13.769 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
1.282 |
|
(b) Non-current Investments |
0.000 |
0.000 |
1253.389 |
|
(c) Deferred tax assets (net) |
38.839 |
8.565 |
8.565 |
|
(d)
Long-term Loan and Advances |
46.467 |
39.970 |
9.719 |
|
(e) Other
Non-current assets |
14.936 |
14.995 |
0.000 |
|
Total Non-Current
Assets |
193.014 |
168.717 |
1362.713 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
278.686 |
293.966 |
188.268 |
|
(c) Trade
receivables |
271.546 |
191.338 |
122.081 |
|
(d) Cash
and cash equivalents |
199.061 |
133.017 |
197.629 |
|
(e) Short-term
loans and advances |
75.792 |
98.397 |
28.001 |
|
(f) Other
current assets |
5.612 |
9.209 |
144.550 |
|
Total
Current Assets |
830.697 |
725.927 |
680.529 |
|
|
|
|
|
|
TOTAL |
1023.711 |
894.644 |
2043.242 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
995.682 |
760.972 |
555.184 |
|
|
Other Income |
18.439 |
5.847 |
31.235 |
|
|
TOTAL |
1014.121 |
766.819 |
586.419 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
230.480 |
289.716 |
330.741 |
|
|
Purchases of
Stock-in-Trade |
378.794 |
287.788 |
98.079 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
21.390 |
(105.912) |
(84.322) |
|
|
Employee benefit expense |
80.711 |
64.631 |
44.240 |
|
|
Other expenses |
221.791 |
235.235 |
114.112 |
|
|
TOTAL |
933.166 |
771.458 |
502.850 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
80.955 |
(4.639) |
83.569 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.531 |
2.219 |
0.101 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
80.424 |
(6.858) |
83.468 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
25.268 |
31.213 |
18.882 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
55.156 |
(38.071) |
64.586 |
|
|
|
|
|
|
|
Less |
TAX |
(20.427) |
0.000 |
(0.019) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
75.583 |
(38.071) |
64.605 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.768 |
1.107 |
0.000 |
|
|
TOTAL EARNINGS |
0.768 |
1.107 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
9.79 |
(4.93) |
8.37 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
70.950 |
(209.866) |
50.040 |
|
Net cash flows from (used in) operating activities |
75.513 |
(244.366) |
49.131 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
99.54 |
91.78 |
80.26 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.67 |
3.98 |
4.55 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
179.98 |
154.84 |
25.66 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.29 |
(0.02) |
0.44 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.87 |
(0.04) |
0.92 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.31 |
0.30 |
0.19 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.46 |
0.43 |
0.24 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.13 |
0.17 |
0.06 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
152.46 |
(2.09) |
827.42 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
7.59 |
(5.00) |
11.64 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
7.38 |
(4.26) |
3.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.90 |
(6.16) |
3.92 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.58 |
2.71 |
1.72 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.72 |
1.61 |
1.25 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.68 |
0.69 |
0.81 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.58 |
2.71 |
1.72 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
771.905 |
77.191 |
77.191 |
|
Reserves & Surplus |
876.215 |
540.496 |
616.079 |
|
Net
worth |
1648.120 |
617.687 |
693.270 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
555.184 |
760.972 |
995.682 |
|
|
|
37.067 |
30.843 |
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 |
555.184 |
760.972 |
995.682 |
|
Profit/ (Loss) |
64.605 |
(38.071) |
75.583 |
|
|
11.64
% |
(5.00
%) |
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 |
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 |
No |
|
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 three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO CHARGES
EXISTS FOR COMPANY
CORPORATE INFORMATION
The Company was incorporated on September 09, 2008. The Company is a subsidiary of Black and Decker Overseas Holding B.V, Netherlands which is ultimately held by Stanley Black and Decker, Inc.
The Company is engaged in trading and manufacturing of fastening assembly solutions including installation tools, components, industrial fasteners and allied products.
Pursuant to scheme of amalgamation, Subsidiary Companies Avfast India Private Limited and Infastech Fastening Technologies India Private Limited have been merged with the Company with effect from the appointed date of 01.04.2015, as per Sections 391 to 394 of the erstwhile Companies Act, 1956.
REVIEW OF BUSINESS OPERATIONS
The Directors wish to present the details of Business operations done during the year:
They could achieve a profit of INR 75.583 million as against a previous year’s loss of INR 38.071 million. The Company has achieved total revenue of INR 1014.121 million (previous year INR 766.819 million) out of which INR 995.682 million is the Company’s operational revenue during the year 2016-17.
The Directors have made all the efforts to enhance the business performance of the company during current financial year.
FIXED ASSETS:
· Land
· Plant and equipment
· Furniture and fixtures
· Office equipment
· Computer equipments
· Leasehold improvements
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 : |
SHL |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.