|
|
|
MIRA INFORM REPORT
|
Report No. : |
495217 |
|
Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
MAX AEROSPACE AND AVIATION PRIVATE LIMITED [w.e.f.24.02.2011] |
|
|
|
|
formerly known
as: |
MAX AEROSPACE AND AVIATION LIMITED |
|
|
|
|
Registered
Office : |
Hanger No. C1, Juhu Aerodrome, Juhu, Mumbai-400054, Maharashtra |
|
Tel. No.: |
91-22-26609723/ 27/ 28/ 29 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
12.07.1994 |
|
|
|
|
Com. Reg. No.: |
11-079577 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 10.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35300MH1994PTC079577 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM9671M |
|
|
|
|
GST No.: |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Repair and Maintenance of Aircraft System and Sub System. [Registered Activity and also Confirmed by Management] |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 391305 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was incorporated in the year 1994 and it is engaged in repairing and maintaining of aircraft system and sub-system. 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 average profit margin of 1.79%. Rating takes into consideration the company’s established track record of business operations marked by sound net worth base along with low solvency indicators and decent liquidity position. Payment seems to be slow but correct. 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 (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
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
31-03-2016.
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 01.03.2018
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 DECLINED BY
|
Name : |
Mr. Vivek |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-26609723 |
[91-22-26609727/ 28/ 29] MANAGEMENT NON-COOPERATIVE
LOCATIONS
|
Registered Office/ Factory : |
Hanger No. C1, Juhu Aerodrome, Juhu, Mumbai-400054, Maharashtra, India |
|
Tel. No.: |
91-22-26609723/ 27/ 28/ 29/ 26613582/ 3563 |
|
Fax No.: |
91-22-26609724 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Bharat Harkishan Malkani |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
Bindiya Gandhi Gram Road, Juhu, Mumbai-400049, Maharashtra, India |
|||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.10.1965 |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.07.1994 |
|||||||||||||||||||||||||||||||
|
DIN No.: |
00486775 |
|||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
|
Name : |
Mr. Pravin Harkishan Malkani |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
Bindiya Gandhi Gram Road, Juhu, Mumbai-400049, Maharashtra, India |
|||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.07.1968 |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.07.1994 |
|||||||||||||||||||||||||||||||
|
DIN No.: |
00486803 |
|||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
|
Name : |
Mr. Jaimini Bipinchandra Chinai |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
305/405 Vasant, Gandhi Gram Road, Juhu, Mumbai-400049, Maharashtra, India |
|||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.02.1946 |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
28.07.2005 |
|||||||||||||||||||||||||||||||
|
DIN No.: |
02478855 |
|||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
|
Name : |
Mrs. Jyoti Bharat Malkani |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
Bindiya Gandhi Gram Road, Juhu, Mumbai-400049, Maharashtra, India |
|||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.01.1966 |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.07.1994 |
|||||||||||||||||||||||||||||||
|
DIN No.: |
02568401 |
|||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Vivek |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage
of Holding |
|
Bindiya Harkishan Malkani |
159700 |
15.97 |
|
Bharat Harkishan Malkani |
800000 |
80.00 |
|
Babita Pravin Malkani |
100 |
0.01 |
|
Anushka Bharat Malkani |
40000 |
4.00 |
|
Meghna Bharat Malkani |
200 |
0.02 |
|
|
|
|
|
Total |
1000000 |
100.00 |
AS ON: 26.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
95.97 |
|
Promoters – Others
[Relatives of Promoters] |
4.03 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Repair and Maintenance of Aircraft System and Sub System. [Registered Activity and also Confirmed by Management] |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
· HAL · Indian Air Force · Indian Coast Guard · Indian Navy · Ministry of Defence |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Not Divulged |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
C.B Pokle and Company Chartered Accountants |
|
Address : |
201,Chitrakoot, Kasinath Dhuru, Street, Agar Bazar, Dadar, Mumbai-400028, India |
|
Tel No.: |
91-22-24322223/ 24/ 24229413/ 12 |
|
Mobile No.: |
91-9870309229 |
|
Fax No.: |
91-22-24322225 |
|
Email : |
|
|
PAN No.: |
AAAFC5077A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Companies: |
· Max MRO Services Private Limited [U63033MH2008PTC178221] · Max Defence Aerospace Limited [U62200MH2008PTC178218] · Maxaero Aircraft Engines Private Limited [U35122MH2014PTC255856] |
|
|
|
|
Associates
Companies : |
· Hotel Transit Private Limited · Max Defence Systems Limited · Max Aviation Infrastructure and Projects Services Private Limited · DSQ Architects Private Limited · Mallkani Interbuild |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
126.957 |
126.368 |
118.030 |
|
(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) |
136.957 |
136.368 |
128.030 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.100 |
0.287 |
0.456 |
|
(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 |
1.369 |
1.221 |
1.056 |
|
Total
Non-current Liabilities (3) |
1.469 |
1.508 |
1.512 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
1.358 |
1.620 |
0.118 |
|
(c)
Other current liabilities |
1.917 |
5.988 |
13.643 |
|
(d)
Short-term provisions |
19.924 |
19.464 |
17.039 |
|
Total
Current Liabilities (4) |
23.199 |
27.072 |
30.800 |
|
|
|
|
|
|
TOTAL |
161.625 |
164.948 |
160.342 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
8.736 |
9.380 |
9.071 |
|
(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 |
45.985 |
45.985 |
45.985 |
|
(c) Deferred tax assets
(net) |
0.764 |
0.671 |
0.528 |
|
(d) Long-term Loan
and Advances |
13.604 |
13.600 |
43.098 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
69.089 |
69.636 |
98.682 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
12.096 |
2.099 |
0.457 |
|
(c)
Trade receivables |
2.029 |
14.875 |
2.822 |
|
(d)
Cash and cash equivalents |
28.082 |
32.108 |
14.231 |
|
(e)
Short-term loans and advances |
49.099 |
44.785 |
43.989 |
|
(f)
Other current assets |
1.230 |
1.445 |
0.161 |
|
Total
Current Assets |
92.536 |
95.312 |
61.660 |
|
|
|
|
|
|
TOTAL |
161.625 |
164.948 |
160.342 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
32.967 |
47.604 |
33.790 |
|
|
|
Other Income |
2.168 |
2.772 |
0.992 |
|
|
|
TOTAL |
35.135 |
50.376 |
34.782 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock in trade |
9.799 |
4.668 |
12.242 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(9.997) |
(1.642) |
0.066 |
|
|
|
Employees benefits expense |
13.453 |
9.328 |
4.300 |
|
|
|
Other expenses |
19.260 |
25.851 |
14.483 |
|
|
|
TOTAL |
32.515 |
38.205 |
31.091 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2.620 |
12.171 |
3.691 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.067 |
0.128 |
0.173 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.553 |
12.043 |
3.518 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.607 |
1.447 |
2.048 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
0.946 |
10.596 |
1.470 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.357 |
2.258 |
(0.091) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
0.589 |
8.338 |
1.561 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods |
1.944 |
17.010 |
3.360 |
|
|
|
Other Earnings |
3.210 |
0.020 |
0.359 |
|
|
TOTAL EARNINGS |
5.154 |
17.030 |
3.719 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
CIF Basis |
3.435 |
3.741 |
8.805 |
|
|
TOTAL IMPORTS |
3.435 |
3.741 |
8.805 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
0.59 |
8.34 |
1.56 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.187 |
0.169 |
7.553 |
|
|
|
|
|
|
Cash generated from operating activities |
(0.902) |
19.524 |
4.195 |
|
|
|
|
|
|
Net Cash from operating activities |
(4.666) |
17.793 |
3.643 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
22.46 |
114.05 |
30.48 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
16.25 |
3.20 |
11.97 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
50.58 |
126.67 |
3.52 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.22 |
5.80 |
8.08 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.30 |
1.30 |
0.41 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.15 |
0.17 |
0.24 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.06 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.17 |
0.20 |
0.24 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.06 |
0.07 |
0.07 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
39.10 |
95.09 |
21.34 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.79 |
17.52 |
4.62 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.36 |
5.05 |
0.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.43 |
6.11 |
1.22 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.99 |
3.52 |
2.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
3.47 |
3.44 |
1.99 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.85 |
0.83 |
0.80 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.03 |
0.05 |
0.80 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.99 |
3.52 |
2.00 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
118.030 |
126.368 |
126.957 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
128.030 |
136.368 |
136.957 |
|
|
|
|
|
|
long-term borrowings |
0.456 |
0.287 |
0.100 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of Long
term debt |
7.553 |
0.169 |
0.187 |
|
Total
borrowings |
8.009 |
0.456 |
0.287 |
|
Debt/Equity
ratio |
0.063 |
0.003 |
0.002 |
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 |
33.790 |
47.604 |
32.967 |
|
|
|
40.882 |
(30.747) |
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 |
33.790 |
47.604 |
32.967 |
|
Profit/ (Loss) |
1.561 |
8.338 |
0.589 |
|
|
4.62% |
17.52% |
1.79% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
10.000 |
10.000 |
|
(b) Reserves & Surplus |
|
189.666 |
186.447 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Minority interest |
|
60.482 |
57.764 |
|
Total
Shareholders’ Funds (1) + (2) |
|
260.148 |
254.211 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.100 |
0.287 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
7.095 |
5.938 |
|
Total
Non-current Liabilities (3) |
|
7.195 |
6.225 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.170 |
0.000 |
|
(b)
Trade payables |
|
13.419 |
8.702 |
|
(c)
Other current liabilities |
|
8.609 |
11.998 |
|
(d)
Short-term provisions |
|
29.275 |
25.279 |
|
Total
Current Liabilities (4) |
|
51.473 |
45.979 |
|
|
|
|
|
|
TOTAL |
|
318.816 |
306.415 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
25.853 |
28.056 |
|
(ii)
Intangible Assets |
|
0.830 |
0.672 |
|
(iii)
Capital work-in-progress |
|
9.116 |
4.089 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.036 |
0.036 |
|
(c) Deferred tax assets
(net) |
|
0.812 |
0.586 |
|
(d) Long-term Loan
and Advances |
|
31.229 |
31.226 |
|
(e)
Other Non-current assets |
|
0.091 |
0.109 |
|
Total
Non-Current Assets |
|
67.967 |
64.774 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
14.812 |
14.812 |
|
(b)
Inventories |
|
83.900 |
64.575 |
|
(c)
Trade receivables |
|
37.558 |
40.180 |
|
(d)
Cash and cash equivalents |
|
50.945 |
64.747 |
|
(e)
Short-term loans and advances |
|
62.403 |
55.882 |
|
(f)
Other current assets |
|
1.231 |
1.445 |
|
Total
Current Assets |
|
250.849 |
241.641 |
|
|
|
|
|
|
TOTAL |
|
318.816 |
306.415 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
235.260 |
232.261 |
|
|
|
Other Income |
|
3.702 |
7.736 |
|
|
|
TOTAL |
|
238.962 |
239.997 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
|
135.139 |
114.937 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(19.325) |
(8.632) |
|
|
|
Employees benefits expense |
|
60.089 |
51.539 |
|
|
|
Other expenses |
|
46.402 |
52.240 |
|
|
|
TOTAL |
|
222.305 |
210.084 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
16.657 |
29.913 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.867 |
1.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
15.790 |
28.910 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
6.348 |
6.129 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
9.442 |
22.781 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
3.505 |
5.198 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
5.937 |
17.583 |
|
|
|
|
|
|
|
|
|
Less |
MINORITY
INTEREST |
|
2.719 |
4.181 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX AND MINORITY INTEREST |
|
3.218 |
13.402 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
3.22 |
13.40 |
|
LEGAL CASES
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
PRESENTATION DATE:-
09.05.2017 |
|
LODGING NO: ITXAL/1126/2017
FILING DATE: 09.05.2017 REG. NO: ITXA/1289/2017
REG. DATE: 14.09.2017 |
|
PETITIONER: PR. COMMISSIONER OF INCOME TAX-10 RESPONDENT: MAX AEROSPACE AND AVIATION PRIVATE LIMITED RESP. ADV.: PADMA DIVAKAR [I3287] STAGE:
MINT AND CONFRERES [837]
DISTRICT: MUMBAI |
|
BENCH: DIVISION STATUS: PRE-ADMISSION CATEGORY:
TAX APPEALS NEXT DATE: 27.04.2018
STAGE: FOR REJECTION [ORIGINAL SIDE MATTERS] CORAM: ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
|
ACT: Income Tax Act
1961 Under Section :- 260A |
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 |
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 |
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 |
Yes |
|
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
CHANGE OF ADDRESS:
The Registered address of the company has been shifted from Hotel
Transit, Off Nehru Road, Vile Parle (East), Mumbai-400099, Maharashtra, India
to the present address w.e.f 25.10.2007
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Contingent Liabilities not provided for in respect of the Guarantees issued by Bank |
5.445 |
5.216 |
OPERATIONS:
STANDALONE FINANCIAL
STATEMENTS:-
The company has reported total income of INR 35.138 million the current year as compared to INR 50.376 million in the previous year. The Net Profit for the year amounted to INR 0.589 million in the current year as compared to INR 8.338 million in the previous year.
The
company successfully executed prestigious Aircraft Modification Assignment for
Indian Air Force. Further, it also begged Structural Components Repair
assignment from them as well as orders from outsource department of a Defense
Public Sector undertaking under the current financial year.
FIXED ASSETS:
· Building
· Plant and Equipments
· Furniture and Fixture
· Vehicles
· Office Equipment
· 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 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 65.10 |
|
UK Pound |
1 |
INR 90.45 |
|
Euro |
1 |
INR 79.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.