|
|
|
MIRA INFORM REPORT
|
Report No. : |
493685 |
|
Report Date : |
28.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
GALAXY GLASS PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No: #G25, 26 and 27, SIPCOT Industrial Park,
Sriperumbudur, Kanchipuram-602105, Tamilnadu |
|
Tel. No.: |
91- 44-27168067/ 68 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
12.05.2005 |
|
|
|
|
Com. Reg. No.: |
18-056265 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 45.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33201TN2005PTC056265 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
33AACCG3525D1Z7 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG3525D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The main activities
of the Company are: a. To carry on the business as producers, processors, makers, inventors, designers, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockists, agents, sub-agents merchants, distributors, consignors, jobbers, brokers, concessionaries or otherwise deal in all kinds of glass, levelled and unlevelled silvered sheet, curved or flat laminated and safety glass, toughened glass, fiber glass, welding glass, silver glass, colored glass, float and plate glass, lead glass, gold mirror, decorative glass, ice flowered glass, glass doors and fittings. b. To carry on the business of tempering of glass for Architectural and Automobile use, double or triple glazing of glass by hermitically sealing layers of glass with sealant and creating vaccum in between the glass for architectural purposes as well as polishing, bevelling, etching and sand blasting of glass. c. To carry on the business of fabrication of
architectural aluminium products like doors, windows, louvers, railing,
decorative grills, Aluminium composite panel cladding, curtain wall,
structural glazing, shop fronts, automatic doors and kitchen cabinets.
[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 : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2005 and it is a manufacturer and supplier of tempered/toughened, insulated/double glaze, printed and frosted glass for architectural and industrial needs. As per financials of March 2017, the company has registered decline in its revenue as compared to its previous year’s revenue and has reported losses. Rating takes into consideration the company’s accumulated losses from its operation which has led to erosion of net worth along with high debt balance sheet and weak financial risk profile. Payments are reported to be slow. In view of aforesaid, the company can be considered for business dealings with safe and secured 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 |
CRISIL |
|
Rating |
Long term rating = B+ |
|
Rating Explanation |
Risk prone credit quality and carries very high credit risk |
|
Date |
06.03.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
06.03.2017 |
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
31-03-2016.
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 28.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Khaleel |
|
Designation : |
Manager |
|
Contact No.: |
91-9884320910 |
|
Date : |
23.08.2018 |
MANAGEMENT NON-COOPERATIVE (Tel No.: 91-9176663187)
LOCATIONS
|
Registered Office /Head Office/Factory : |
Plot No: #G25, 26 and 27, SIPCOT Industrial Park, Sriperumbudur, Kanchipuram-602105, Tamilnadu, India |
|
Tel. No.: |
91-44-27168067/68 |
|
Mobile No.: |
91-9840937756/8048425076 |
|
Fax No.: |
91-44-27168070 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mrs. Usha Omanakuttan |
|
Designation : |
Director |
|
Address : |
Harekrishna, Vallikavumukku, Perunna, Changanacherry - 686102, Kerala, India |
|
Date of Birth/Age : |
30.11.1957 |
|
Date of Appointment : |
22.05.2005 |
|
DIN No.: |
02042540 |
|
|
|
|
Name : |
Mr. Moolayil Omanakuttan |
|
Designation : |
Director |
|
Address : |
Harekrishna, Vallikkavumukku, Perunna, Changanacherry - 686102, Kerala, India |
|
Date of Birth/Age : |
01.06.1950 |
|
Date of Appointment : |
22.05.2005 |
|
DIN No.: |
02042632 |
|
|
|
|
Name : |
Mr. Pradeep Omanakuttan Moolayil |
|
Designation : |
Director |
|
Address : |
Harekrishna, Vallikkavumukku, Perunna, Changanacherry - 686102, Kerala, India |
|
Date of Birth/Age : |
02.04.1987 |
|
Date of Appointment : |
02.12.2016 |
|
DIN No.: |
07687247 |
KEY EXECUTIVES
|
Name : |
Mr. Khaleel |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS
AS ON 22.09.2016
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Omanakuttan |
225000 |
50.00 |
|
Usha Omanakuttan |
225000 |
50.00 |
|
Total |
450000 |
100.00 |
AS ON 30.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Individual/Hindu Undivided Family – Indian] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The main activities
of the Company are: a. To carry on the business as producers, processors, makers, inventors, designers, convertors, importers, exporters, traders, buyers, sellers, retailers, wholesalers, suppliers, indenters, packers, movers, preservers, stockists, agents, sub-agents merchants, distributors, consignors, jobbers, brokers, concessionaries or otherwise deal in all kinds of glass, levelled and unlevelled silvered sheet, curved or flat laminated and safety glass, toughened glass, fiber glass, welding glass, silver glass, colored glass, float and plate glass, lead glass, gold mirror, decorative glass, ice flowered glass, glass doors and fittings. b. To carry on the business of tempering of glass for Architectural and Automobile use, double or triple glazing of glass by hermitically sealing layers of glass with sealant and creating vaccum in between the glass for architectural purposes as well as polishing, bevelling, etching and sand blasting of glass. c. To carry on the business of fabrication of
architectural aluminium products like doors, windows, louvers, railing,
decorative grills, Aluminium composite panel cladding, curtain wall,
structural glazing, shop fronts, automatic doors and kitchen cabinets.
[Registered Activity] |
||||
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Products : |
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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
|
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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||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Vairavanathan and Company Chartered Accountants |
|
Address : |
No: 93, Sm Plaza, III Floor, Armenian Street, Chennai-600001,
Tamilnadu, India |
|
PAN No.: |
AADPT5187A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000 |
Equity Shares |
INR 100/- each |
INR 45.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000 |
Equity Shares |
INR 100/- each |
INR 45.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
45.000 |
45.000 |
45.000 |
|
(b) Reserves &
Surplus |
(59.815) |
(54.059) |
(69.305) |
|
(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) |
(14.815) |
(9.059) |
(24.305) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
109.277 |
77.405 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
1.151 |
0.000 |
83.204 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
110.428 |
77.405 |
83.204 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
94.386 |
72.954 |
69.806 |
|
(c) Other current
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
94.386 |
72.954 |
69.806 |
|
|
|
|
|
|
TOTAL |
189.999 |
141.300 |
128.705 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
69.978 |
47.617 |
56.312 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.034 |
|
(c) Deferred tax assets
(net) |
0.000 |
-0.976 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
|
|
Total Non-Current Assets |
69.978 |
46.641 |
56.346 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
25.388 |
16.087 |
12.191 |
|
(c) Trade receivables |
64.478 |
54.777 |
41.200 |
|
(d) Cash and cash
equivalents |
13.606 |
16.063 |
11.493 |
|
(e) Short-term loans and
advances |
15.527 |
7.356 |
7.111 |
|
(f) Other current assets |
1.022 |
0.376 |
0.364 |
|
Total Current Assets |
120.021 |
94.659 |
72.359 |
|
|
|
|
|
|
TOTAL |
189.999 |
141.300 |
128.705 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
220.921 |
227.362 |
169.55 |
|
|
Other Income |
8.188 |
5.582 |
4.535 |
|
|
TOTAL |
229.109 |
232.944 |
174.085 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
138.922 |
136.769 |
98.507 |
|
|
Production Costs |
36.403 |
28.127 |
25.186 |
|
|
Employees benefits
expense |
25.608 |
23.791 |
21.553 |
|
|
Other expenses |
12.929 |
9.679 |
12.704 |
|
|
Prior Period Items |
0.351 |
0.897 |
3.231 |
|
|
TOTAL |
214.213 |
199.263 |
161.181 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
14.896 |
33.681 |
12.904 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
8.877 |
6.351 |
5.791 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
6.019 |
27.330 |
7.113 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
11.600 |
11.074 |
12.892 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(5.581) |
16.256 |
(5.779) |
|
|
|
|
|
|
|
Less |
TAX |
0.175 |
1.011 |
1.233 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(5.756) |
15.245 |
(7.012) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(13.00) |
34.00 |
(16.00) |
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 flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
106.53 |
87.94 |
88.69 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
3.43 |
4.15 |
4.12 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
247.99 |
194.69 |
258.65 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.59 |
2.09 |
1.06 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.21 |
0.71 |
0.23 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
1.07 |
1.06 |
0.54 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
(7.38) |
(8.54) |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
(6.37) |
(8.05) |
(2.87) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
(4.72) |
(5.26) |
(2.32 |
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial Charges] |
1.68 |
5.30 |
2.23 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
(2.61) |
6.71 |
(4.14) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(3.03) |
10.79 |
(5.45) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
38.85 |
(168.29) |
28.85 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.27 |
1.30 |
1.04 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.00 |
1.08 |
0.86 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
(0.08) |
(0.06) |
(0.19) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.43 |
1.72 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.27 |
1.30 |
1.04 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are INR
Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
45.000 |
45.000 |
45.000 |
|
Reserves & Surplus |
(69.305) |
(54.059) |
(59.815) |
|
Net worth |
(24.305) |
(9.059) |
(14.815) |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
77.405 |
109.277 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
77.405 |
109.277 |
|
Debt/Equity
ratio |
0.000 |
(8.545) |
(7.376) |
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
|
169.550 |
227.362 |
220.921 |
|
|
|
34.097 |
(2.833) |
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 |
169.550 |
227.362 |
220.921 |
|
Profit/ (Loss) |
(7.012) |
15.245 |
(5.756) |
|
|
(4.14%) |
6.71% |
(2.61%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
No |
|
17 |
Details of sister concerns |
No |
|
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 |
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
INFORMATION:
The Company has been incorporated as a Private Company limited by shares with the Registrar of Companies, Chennai on 12th May, 2005. The Shares are not listed in the Stock Exchange.
The
main activities of the Company are:
a. To carry on the business
as producers, processors, makers, inventors, designers, convertors, importers,
exporters, traders, buyers, sellers, retailers, wholesalers, suppliers,
indenters, packers, movers, preservers, stockists, agents, sub-agents
merchants, distributors, consignors, jobbers, brokers, concessionaries or
otherwise deal in all kinds of glass, levelled and unlevelled silvered sheet,
curved or flat laminated and safety glass, toughened glass, fiber glass,
welding glass, silver glass, colored glass, float and plate glass, lead glass,
gold mirror, decorative glass, ice flowered glass, glass doors and fittings.
b. To carry on the business
of tempering of glass for Architectural and Automobile use, double or triple
glazing of glass by hermitically sealing layers of glass with sealant and
creating vaccum in between the glass for architectural purposes as well as
polishing, bevelling, etching and sand blasting of glass
c. To carry on the business
of fabrication of architectural aluminium products like doors, windows,
louvers, railing, decorative grills, Aluminium composite panel cladding,
curtain wall, structural glazing, shop fronts, automatic doors and kitchen
cabinets.
The address of its registered office is Plot No. G25, G26& G27, SIPCOT Industrial Park, Sriperumbudur, Kancheepuram, Tamilnadu – 602105.
FINANCIAL RESULTS:
The financial result for the year under review has incurred a LOSS of INR 5.581 Million before tax.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G19666239 |
100057874 |
THE FEDERAL BANK LIMITED |
29/08/2016 |
- |
20000000.0 |
S V S CLUB BUILDING, 61, ANNA SALAI, MOUNT ROAD, CHENNAI – 600002, TAMILNADU, INDIA |
|
2 |
C46844098 |
10105097 |
THE FEDERAL BANK LIMITED |
17/12/2007 |
05/03/2015 |
73014000.0 |
S V S CLUB BUILDING, 61, ANNA SALAI, MOUNT ROAD, CHENNAI – 600002, TAMILNADU, INDIA |
CONTINGENT
LIABILITIES: [As On 31.03.2017]
The company has a liability towards customs duty of INR 22.100 million, if export obligation of INR 177.200 million is not fulfilled by the company.
FIXED ASSETS:
· Plant and Machinery
· Furniture and Fittings
· Computers and Printers
· Vehicles
· Office Equipment
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 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 64.85 |
|
UK Pound |
1 |
INR 79.97 |
|
Euro |
1 |
INR 90.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
GEET |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.