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MIRA INFORM REPORT
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Report No. : |
494777 |
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Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SEDEMAC MECHATRONICS PRIVATE LIMITED |
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Registered
Office : |
211, 2nd Floor, Building No 1, Sona Udyog Industrial Estate, Parsi
Panchayat Road, Andheri (East), Mumbai – 400069, Maharashtra |
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Tel. No.: |
91-20-67313500 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
18.07.2007 |
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Com. Reg. No.: |
11-172479 |
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Capital
Investment / Paid-up Capital : |
INR 0.777 Million |
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CIN No.: [Company Identification
No.] |
U29253MH2007PTC172479 |
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IEC No.: |
0308063759 |
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TIN No.: |
27120697312 |
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GST No.: |
27AALCS0479F1Z4 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AALCS0479F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is primarily engaged in Manufacturing of Mechanical
Components, which in turn are used in the DG set Telecom Tower Business. (Registered Activity) |
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No. of Employees
: |
Information declined 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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2007. The company is a
Manufacturing of Mechanical Components, which in turn are used in the DG set
Telecom Tower Business. For the financial year 2017, the company has achieved a massive growth
in its revenue as compared to the previous year but has incurred operational
losses. The company possesses healthy financial position marked by above
average net worth base along with comfortable debt balance sheet profile. Business is active. 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.
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
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-20-67313500]
LOCATIONS
|
Registered Office : |
211, 2nd Floor, Building No 1, Sona Udyog Industrial Estate, Parsi
Panchayat Road, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Technical Centre |
C-9-10, C-Block, MIDC Bhosari, Pune-411026, Maharashtra,
India
|
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Tel. No.: |
91-20-67313500 |
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|
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Factory 1: |
G-1, MIDC, Phase- III, Chakan Industrial Area, Nighoje, Pune-410501, Maharashtra, India
|
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Tel. No.: |
91-2135-623200 |
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Factory 2: |
Survey No.64/5, Bhide Baug Industrial Estate, Off Sinhagad
Road,
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Tel. No.: |
91-20-2424392351/ 52/ 53 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Pushkaraj Panse |
|
Designation : |
Director |
|
Address : |
5B, Shilp Sangeet, Vazira Naka, L.T. Road, Borivali (West), Mumbai-400091, Maharashtra, India |
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Date of Birth/Age : |
07.02.1980 |
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Date of Appointment : |
18.07.2007 |
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DIN No.: |
01315324 |
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Name : |
Mr. Shashikanth Suryanarayanan |
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Designation : |
Director |
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Address : |
15A, B2 Building, Harbour Heights, N.A. Sawant Marg, Colaba, Mumbai-400005, Maharashtra, India |
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Date of Birth/Age : |
11.07.1977 |
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Date of Appointment : |
18.07.2007 |
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DIN No.: |
01269904 |
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|
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Name : |
Mr. Sandeep Shiamsunder Singhal |
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Designation : |
Director |
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Address : |
Duplex Flat No 3202, 32nd Floor, A Wing, Vivarea, Sane Guruji Marg, J Circle, Byculla, Mumbai-400011, Maharashtra, India |
|
Date of Birth/Age : |
21.10.1966 |
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Date of Appointment : |
10.06.2011 |
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DIN No.: |
00422796 |
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Name : |
Mr. Pajir Vishwanath Rajesh Rai |
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Designation : |
Director |
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Address : |
Oak A-403, Godrej Woodsman Estate, Bellary Road, Hebbal, Bangalore-560024, Karnataka, India |
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Date of Birth/Age : |
10.01.1972 |
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Date of Appointment : |
06.09.2011 |
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DIN No.: |
03284892 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Equity Shareholders |
|
No. of Shares |
|
Shashikanth Suryanarayanan |
|
4022 |
|
Pushkaraj Panse |
|
3078 |
|
Manish Sharma |
|
631 |
|
Amit Dixit |
|
1010 |
|
Arvind Athavale |
|
120 |
|
Society for Innovation and Entrepreneurship, India |
|
287 |
|
Mallika Iyer |
|
430 |
|
Manisha |
|
54 |
|
Nexus India Venture I Investments |
|
357 |
|
IL and FS Trust Co. Limited Trustee of India Innovation Fund |
|
10 |
|
Anathapadmanabhan Guruswamy |
|
205 |
|
Rajani Iyer |
|
200 |
|
Ravikumar Krishnamurthi |
|
183 |
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Entrust Family Office Trusteeship Services Private Limited Trustee of NRIN Family |
|
142 |
|
|
|
|
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Total |
|
10729 |
|
Names of Preference Shareholders |
Series A |
Series B |
Total |
|
Nexus India Venture I Investments, Mauritius |
5179 |
1164 |
6343 |
|
IL and FS Company Limited Trustee of India Innovation Fund, India |
0 |
1947 |
1947 |
|
Total |
5179 |
3111 |
8290 |
|
Names of Preference Shareholders |
Series C |
Series D |
Series D1 |
Series E |
Series E1 |
Total |
|
Nexus India Venture I Investments, Mauritius |
767 |
648 |
762 |
797 |
0 |
2974 |
|
IL and FS Company Limited Trustee of India Innovation Fund, India |
576 |
0 |
0 |
0 |
0 |
576 |
|
Entrust Family Office Trusteeship Services Private Limited, India |
0 |
0 |
0 |
0 |
2319 |
2319 |
|
Total |
1343 |
648 |
762 |
797 |
2319 |
5869 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
81.47 |
|
Public/Other than promoters (Individual/Hindu Undivided Family - Indian) |
11.11 |
|
Public/Other than promoters (Body corporate) |
7.42 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in Manufacturing of Mechanical
Components, which in turn are used in the DG set telecom tower business. (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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 declined by the management |
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Bankers : |
·
Small
Industries Development Bank of India |
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Facilities : |
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Auditors : |
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Name : |
B S R and Company LLP Chartered Accountants |
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Address : |
701-703, 7th Floor, Godrej Castlemaine, Next to Ruby, Hall Clinic,
Bund Garden Road, Pune-411001, Maharashtra, India |
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Tel. No.: |
91-20-30504000 |
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Fax No.: |
91-20-30504100 |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Related Parties: |
· Nexus India Ventures Investments · India Innovation Fund (Represented by IL and FS Trust Company Limited) · Entrust Family Office Trusteeship Services Private Limited, India |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22400 |
Equity Shares |
INR 10/- each |
INR 0.224 Million |
|
5200 |
Series A Compulsorily Convertible Preference Shares |
INR 10/- each |
INR 0.052 Million |
|
3200 |
Series B Compulsorily Convertible Preference Shares |
INR 10/- each |
INR 0.032 Million |
|
1400 |
Series C Compulsorily Convertible Preference Shares |
INR 100/- each |
INR 0.140 Million |
|
700 |
Series D Compulsorily Convertible Preference Shares |
INR 100/- each |
INR 0.070 Million |
|
770 |
Series D1 Compulsorily Convertible Preference Shares |
INR 100/- each |
INR 0.077 Million |
|
800 |
Series E Compulsorily Convertible Preference Shares |
INR 100/- each |
INR 0.080 Million |
|
3250 |
Series E1 Compulsorily Convertible Preference Shares |
INR 100/- each |
INR 0.325 Million |
|
|
Total |
|
INR 1.000
Million |
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10729 |
Equity Shares |
INR 10/- each |
INR 0.107 Million |
|
5179 |
Series A Compulsorily Convertible Preference Shares |
INR 10/- each |
INR 0.052 Million |
|
3111 |
Series B Compulsorily Convertible Preference Shares |
INR 10/- each |
INR 0.031 Million |
|
1343 |
Series C Compulsorily Convertible Preference Shares |
INR 100/- each |
INR 0.134 Million |
|
648 |
Series D Compulsorily Convertible Preference Shares |
INR 100/- each |
INR 0.065 Million |
|
762 |
Series D1 Compulsorily Convertible Preference Shares |
INR 100/- each |
INR 0.076 Million |
|
797 |
Series E Compulsorily Convertible Preference Shares |
INR 100/- each |
INR 0.080 Million |
|
2319 |
Series E1 Compulsorily Convertible Preference Shares |
INR 100/- each |
INR 0.232 Million |
|
|
Total |
|
INR 0.777
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 |
0.777 |
0.777 |
0.464 |
|
(b) Reserves & Surplus |
501.587 |
530.829 |
110.195 |
|
(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) |
502.364 |
531.606 |
110.659 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
110.756 |
63.571 |
7.900 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
2.555 |
3.011 |
0.575 |
|
(d)
long-term provisions |
18.984 |
6.910 |
5.667 |
|
Total
Non-current Liabilities (3) |
132.295 |
73.492 |
14.142 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
84.406 |
0.000 |
0.375 |
|
(b)
Trade payables |
157.862 |
62.087 |
34.115 |
|
(c)
Other current liabilities |
47.448 |
29.461 |
27.549 |
|
(d)
Short-term provisions |
2.846 |
1.838 |
1.317 |
|
Total
Current Liabilities (4) |
292.562 |
93.386 |
63.356 |
|
|
|
|
|
|
TOTAL |
927.221 |
698.484 |
188.157 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
256.774 |
128.680 |
19.315 |
|
(ii)
Intangible Assets |
141.970 |
21.848 |
13.600 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
145.360 |
68.591 |
16.658 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
29.298 |
30.915 |
8.010 |
|
(e)
Other Non-current assets |
8.280 |
27.760 |
7.211 |
|
Total
Non-Current Assets |
581.682 |
277.794 |
64.794 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
128.767 |
63.258 |
37.952 |
|
(c)
Trade receivables |
140.423 |
39.860 |
30.173 |
|
(d)
Cash and cash equivalents |
41.238 |
290.851 |
46.055 |
|
(e)
Short-term loans and advances |
27.318 |
23.088 |
3.980 |
|
(f)
Other current assets |
7.793 |
3.633 |
5.203 |
|
Total
Current Assets |
345.539 |
420.690 |
123.363 |
|
|
|
|
|
|
TOTAL |
927.221 |
698.484 |
188.157 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
810.894 |
370.366 |
188.364 |
|
|
|
Other Income |
7.211 |
1.887 |
1.903 |
|
|
|
TOTAL |
818.105 |
372.253 |
190.267 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
537.742 |
206.234 |
115.698 |
|
|
|
Changes in inventories of finished goods work-in-progress
and Stock-in-Trade |
(28.592) |
(0.321) |
(9.446) |
|
|
|
Employees benefits expense |
117.077 |
54.335 |
40.716 |
|
|
|
Other expenses |
153.885 |
100.586 |
50.420 |
|
|
|
TOTAL |
780.112 |
360.834 |
197.388 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST TAX DEPRECIATION AND AMORTISATION |
37.993 |
11.419 |
(7.121) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
12.255 |
6.635 |
6.428 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX DEPRECIATION AND AMORTISATION |
25.738 |
4.784 |
(13.549) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
57.589 |
15.781 |
15.721 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(31.851) |
(10.997) |
(29.270) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(31.851) |
(10.997) |
(29.270) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
1.511 |
0.000 |
0.885 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
172.161 |
4.604 |
13.064 |
|
|
|
Component and spare parts |
10.435 |
2.809 |
0.000 |
|
|
|
Capital Goods |
15.243 |
0.307 |
0.280 |
|
|
TOTAL IMPORTS |
197.839 |
7.720 |
13.344 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (INR) |
(3007.00) |
(1038.00) |
(2835.00) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
25.815 |
14.329 |
22.850 |
|
|
|
|
|
|
Cash generated from operations |
60.898 |
(18.164) |
(21.896) |
|
|
|
|
|
|
Net Cash flows used in operating activities |
57.941 |
(25.000) |
(24.242) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
63.21 |
39.28 |
58.47 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.77 |
9.29 |
6.24 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
107.15 |
109.88 |
107.62 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.30 |
0.18 |
(0.19) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.07 |
0.05 |
-0.14 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.46 |
0.25 |
0.50 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.44 |
0.15 |
0.28 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.58 |
0.18 |
0.57 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.08 |
0.41 |
0.45 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.10 |
1.72 |
-1.11 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(3.93) |
(2.97) |
(15.54) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(3.44) |
(1.57) |
(15.56) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(6.34) |
(2.07) |
(26.45) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.18 |
4.50 |
1.95 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.74 |
3.83 |
1.35 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.54 |
0.76 |
0.59 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
284.40 |
100.26 |
67.08 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.18 |
4.50 |
1.95 |
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
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
0.464 |
0.777 |
0.777 |
|
Reserves & Surplus |
110.195 |
530.829 |
501.587 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
110.659 |
531.606 |
502.364 |
|
|
|
|
|
|
Long-term borrowings |
7.900 |
63.571 |
110.756 |
|
Short term borrowings |
0.375 |
0.000 |
84.406 |
|
Current Maturities of Long
term debt |
22.850 |
14.329 |
25.815 |
|
Total
borrowings |
31.125 |
77.900 |
220.977 |
|
Debt/Equity
ratio |
0.281 |
0.147 |
0.440 |
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 |
188.364 |
370.366 |
810.894 |
|
|
|
96.622 |
118.944 |
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 |
188.364 |
370.366 |
810.894 |
|
Profit/(Loss) |
(29.270) |
(10.997) |
(31.851) |
|
|
(15.54%) |
(2.97%) |
(3.93%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G68818319 |
100137685 |
SIDBI |
24/11/2017 |
- |
- |
40000000.0 |
OFFICE NO. 305, 3RD FLOOR, KAKADE BIZZ ICONNEAR E - SQUARE, SHIVAJINAGAR, PUNE - 411 016PUNEMH411016IN |
|
2 |
G68819630 |
100054016 |
SIDBI |
29/09/2016 |
13/11/2017 |
- |
40000000.0 |
OFFICE NO. 305, 3RD FLOOR, KAKADE BIZZ ICON,NEAR E - SQUARE, SHIVAJINAGARPUNEMH400016IN |
|
3 |
G15693294 |
100052728 |
SIDBI |
29/09/2016 |
03/10/2016 |
- |
80000000.0 |
JEEVAN SHREE BULIDING, S NO. 1109, PLOT NO.488PUNE UNIVERSITY ROAD, NEAR PUNE CENTAL MALLPUNEMH411016IN |
|
4 |
C54758081 |
10558294 |
SMALL INDUSTRIAL DEVELOPMENT BANK OF INDIA |
26/03/2015 |
31/03/2015 |
- |
40000000.0 |
JEEVAN SHREE BLDG, S NO.1109, PT NO 488NR PUNE CENTRAL MALL,GANESHKHIND, SHIVAJINAGARPUNEMH411016IN |
|
5 |
C09901463 |
10234713 |
STATE BANK OF INDIA |
22/01/2010 |
- |
12/06/2014 |
10400000.0 |
PBB HIRANANDANI BRANCH15/16 VENTURA GARDENS, HIRANANDANI GARDENS, POWAIMUMBAIMH400076IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From other parties |
|
|
|
Jainsons Finlease Limited, Equity Shareholder |
14.000 |
23.571 |
|
|
|
|
|
Total |
14.000 |
23.571 |
CHANGE OF ADDRESS:
Registered address of the company has been shifted from Sine Business Incubator,
CSRE Bldg., Indian Institute of Technology, Mumbai, Powai, MUMBAI - 400076,
Maharashtra, India to the present address w.e.f. 23.02.2009.
COMPANY OVERVIEW
Subject is private company, incorporated under the companies act, 1956
The company is primarily engaged in manufacturing of material components, which
in turn are used in the DG set and telecom tower business. Additionally, the
company has developed novel ignition control technology for single-cylinder,
spark-ignited, carbureted engines. The primary application of the technology is
used in 2/3 wheelers.
Pursuant to the business transfer agreement entered between the company
and the Messers Auto Electronics (the firm) on 29 August 2016 and approved by
the board on 29 April 2016, business of the firm is acquired by the company
under the slump sale arrangement. The undertaking of the firm as specified
under business transfer agreement have been transferred to the company with
effect from 1 September 2016.
FIXED ASSETS:
· Plant and equipment
· Furniture and Fixture
· Computer and software
· Vehicles
· Leasehold Improvements
· Land
· Building
· Office Equipment’s
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 65.10 |
|
UK Pound |
1 |
INR 90.45 |
|
Euro |
1 |
INR 79.59 |
INFORMATION
DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
ARC |
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.