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|
|
MIRA INFORM REPORT
|
Report No. : |
495762 |
|
Report Date : |
03.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
EMJAY
STEEL UDYYOG PRIVATE LIMITED |
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|
|
|
Registered
Office : |
No. 18/26, Loganathan Nagar, 2nd Street, 100 Feet Road, Choolaimedu,
Chennai –
600094, Tamilnadu |
|
Tel. No.: |
91-44-23611271/ 72 |
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|
|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2017 |
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|
|
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Date of
Incorporation : |
08.03.2010 |
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Com. Reg. No.: |
18-074826 |
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Capital
Investment / Paid-up Capital : |
INR 99.013 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U27106TN2010PTC074826 |
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IEC No.: |
Not Divulged |
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GSTIN/UIN: |
37AACCE4753D1ZT |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCE4753D |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Manufacturing and Exporter of Mild Steel Billets. [Registered Activity and also Confirmed by Management] |
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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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 1237000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2010 and it is having fine track
record. For the financial year 2017, the company has increased its revenue
from operations as compared to previous year and maintained average
profitability margin of 1.10%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and low debt balance sheet. Further, rating also reflects from extensive experience of promoters
over two decades of experience in the iron and steel industry and improvement
in the revenue profile during the year. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (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 |
INDIA RATINGS |
|
Rating |
Long term Ratings = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
12.09.2017 |
|
Rating Agency Name |
INDIA RATINGS |
|
Rating |
Commercial Paper = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
12.09.2017 |
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 03.03.2018
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 PARTED BY [PARTIAL DETAILS]
|
Name : |
Mr. Mahesh |
|
Designation : |
Accountant |
|
Contact No.: |
91-44-23611271 |
|
Date : |
03.03.2018 |
LOCATIONS
|
Registered Office : |
No. 18/26, Loganathan Nagar, 2nd Street, 100 Feet Road, Choolaimedu,
Chennai –
600094, Tamilnadu, India |
|
Tel. No.: |
91-44-23611271/ 72 |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
|
|
|
Factory : |
Survey No. 62-3, A1 and A2, Vengamambapuram Village, Naidupet,
District Nellore – 524402, Andhra Pradesh, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Mathew Koshy Elanjickal |
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|
Designation : |
Director |
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|
Address : |
Elanjickal House, Kizhakkum Bhagom PO Niranam West, Pathanamthitta, District Thiruvilla 689101, Kerala, India |
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Date of Birth/Age : |
10.03.1960 |
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Date of Appointment : |
08.03.2010 |
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PAN No.: |
AAXPE8165B |
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DIN No.: |
02892234 |
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Other Directorship:
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|
||||||||||||
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Name : |
Mr. Jacob Mathew |
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Designation : |
Director |
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Address : |
38A Jalan US T 20/1A 47630 ULP Subang Jaya Selangor 47630 |
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Date of Birth/Age : |
27.02.1968 |
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Date of Appointment : |
18.12.2010 |
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DIN No.: |
03432087 |
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|
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Name : |
Mr. Chitrakkudi Sundararajan Nesu Mohan |
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Designation : |
Director |
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|
Address : |
No.4, H5, 1st Main Road, MMDA Colony, Maduravoyal, Chennai 600095, Tamilnadu, India |
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Date of Appointment : |
05.12.2012 |
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DIN No.: |
03628106 |
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Other Directorship:
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Name : |
Mr. Abraham Zechariah |
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Designation : |
Director |
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Address : |
23-B-1, Flowers Road, Chennai 600084, Tamilnadu, India |
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Date of Appointment : |
24.11.2012 |
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DIN No.: |
06426220 |
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Other Directorship:
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|
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Name : |
Mr. Ajith Oommen Abraham |
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Designation : |
Whole-time Director |
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|
Address : |
Paruvackal House, Adoor, Post Pathanamthitta, Trivandrum 691523, Kerala, India |
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|
Date of Appointment : |
15.06.2013 |
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|
DIN No.: |
06548153 |
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KEY EXECUTIVES
|
Name : |
Mr. Mahesh |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Mathew Koshy Elanjickal |
9269390 |
93.62 |
|
Jacob Mathew |
332836 |
3.36 |
|
Abraham Zechariah |
99 |
0.00 |
|
Binu John Philip |
125000 |
1.26 |
|
Anna Manju Mathew |
124000 |
1.25 |
|
C.S.N. Mohan |
5001 |
0.05 |
|
Vinod Garg * |
45000 |
0.45 |
|
|
|
|
|
Total |
9901326 |
100.00 |
* Amount yet to be received from Subscriber
against 45000 equity shares as per Subscriber to the Memorandum of Association
and the same included in paid up capital of the company.
AS ON 30.09.2017
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
Promoters- Individual/Hindu Undivided Family- Indian |
0.51 |
|
Promoters- Individual/Hindu Undivided Family- Non-resident Indian [NRI] |
96.13 |
|
Promoters- Individual/Hindu Undivided Family- Foreign national [other than NRI] |
3.36 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Manufacturing and Exporter of Mild Steel Billets. [Registered Activity and also Confirmed by Management] |
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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 : |
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Products : |
Finished Goods |
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Countries : |
Asian Countries |
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Imports : |
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Products : |
Sponge Iron and Scrap |
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Countries : |
Asian Countries |
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Terms : |
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Selling : |
Advance Payment, L/C and Credit |
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Purchasing : |
Advance Payment, L/C and Credit |
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 : |
· State Bank of India (Lead Bank of the SBI and SIB Consortium) Mid Corporate Group, Industrial Finance Branch, 155, Anna Salai, Chennai - 600002, Tamilnadu, India · HDFC Bank Limited |
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Facilities : |
(INR
In Million)
|
|
Auditors : |
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|
Name : |
Krupa and Company Chartered Accountants |
|
Address : |
First Floor, No. 5, Kumbhat Complex, 700 Poonamallee High Road, Aminjikarai, Chennai – 600029, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABPI2273A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
INR 10/- each |
INR 120.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9901326 |
Equity Shares |
INR 10/- each |
INR 99.013 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 |
99.013 |
99.013 |
92.650 |
|
(b) Reserves &
Surplus |
333.992 |
308.660 |
268.471 |
|
(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) |
433.005 |
407.673 |
361.121 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
90.812 |
148.180 |
|
(b) Deferred tax
liabilities (Net) |
20.772 |
23.107 |
23.466 |
|
(c) Other long term
liabilities |
171.000 |
171.000 |
126.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
191.772 |
284.919 |
297.646 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
92.288 |
348.760 |
489.462 |
|
(b) Trade payables |
582.763 |
470.240 |
288.797 |
|
(c) Other current
liabilities |
3.206 |
72.609 |
66.283 |
|
(d) Short-term provisions |
43.739 |
53.432 |
40.179 |
|
Total Current Liabilities
(4) |
721.996 |
945.041 |
884.721 |
|
|
|
|
|
|
TOTAL |
1346.773 |
1637.633 |
1543.488 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
342.109 |
379.492 |
433.493 |
|
(ii) Intangible Assets |
0.070 |
0.106 |
0.010 |
|
(iii) Capital
work-in-progress |
25.862 |
25.862 |
22.187 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(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 |
85.364 |
57.579 |
27.800 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.001 |
|
Total Non-Current Assets |
453.405 |
463.039 |
483.491 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
134.795 |
282.118 |
167.824 |
|
(c) Trade receivables |
685.458 |
779.401 |
733.838 |
|
(d) Cash and cash
equivalents |
26.075 |
21.464 |
45.480 |
|
(e) Short-term loans and
advances |
37.827 |
85.232 |
109.699 |
|
(f) Other current assets |
9.213 |
6.379 |
3.156 |
|
Total Current Assets |
893.368 |
1174.594 |
1059.997 |
|
|
|
|
|
|
TOTAL |
1346.773 |
1637.633 |
1543.488 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
||
|
|
SALES |
|
|
|
||
|
|
|
Revenue from Operations |
2295.625 |
2012.538 |
2911.240 |
|
|
|
|
Other Income |
7.838 |
7.114 |
24.374 |
|
|
|
|
TOTAL (A) |
2303.463 |
2019.652 |
2935.614 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
1667.666 |
1381.012 |
2243.178 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(30.375) |
36.184 |
25.615 |
|
|
|
|
Employee Benefits Expenses |
10.003 |
8.725 |
13.086 |
|
|
|
|
Other Expenses |
524.049 |
473.984 |
513.663 |
|
|
|
|
TOTAL (B) |
2171.343 |
1899.905 |
2795.542 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
132.120 |
119.747 |
140.072 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
66.329 |
65.091 |
97.881 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
65.791 |
54.656 |
42.191 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
42.794 |
43.463 |
34.112 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G)
|
22.997 |
11.193 |
8.079 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
(2.335) |
(0.359) |
(5.234) |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
25.332 |
11.552 |
13.313 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
306.053 |
543.053 |
570.749 |
|
|
|
|
Components and spare parts |
0.759 |
0.913 |
0.968 |
|
|
|
TOTAL IMPORTS |
306.812 |
543.966 |
571.717 |
||
|
|
|
|
|
|
||
|
|
Earnings / (Loss)
Per Share (INR) |
2.56 |
1.17 |
1.44 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
444.180 |
154.660 |
108.958 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
446.515 |
148.676 |
102.187 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
108.99 |
141.35 |
92.01 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.35 |
2.58 |
3.97 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
127.55 |
124.28 |
46.99 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.98 |
0.42 |
0.83 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.36 |
0.30 |
0.31 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.54 |
0.63 |
0.67 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.21 |
1.08 |
1.77 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.67 |
2.32 |
2.45 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.85 |
0.99 |
1.26 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.99 |
1.84 |
1.43 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.10 |
0.57 |
0.46 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.88 |
0.71 |
0.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.85 |
2.83 |
3.69 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.24 |
1.24 |
1.20 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.05 |
0.94 |
1.01 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.32 |
0.25 |
0.23 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.93 |
4.44 |
6.88 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.24 |
1.24 |
1.20 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
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 |
92.650 |
99.013 |
99.013 |
|
Reserves & Surplus |
268.471 |
308.660 |
333.992 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
361.121 |
407.673 |
433.005 |
|
|
|
|
|
|
long-term borrowings |
148.180 |
90.812 |
0.000 |
|
Short term borrowings |
489.462 |
348.760 |
92.288 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
637.642 |
439.572 |
92.288 |
|
Debt/Equity ratio |
1.766 |
1.078 |
0.213 |
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 |
2911.240 |
2012.538 |
2295.625 |
|
|
|
-30.870 |
14.066 |
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 |
2911.240 |
2012.538 |
2295.625 |
|
Profit |
13.313 |
11.552 |
25.332 |
|
|
0.46% |
0.57% |
1.10% |
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) |
Yes |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
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 |
C60050358 |
10582483 |
HDFC BANK LIMITED |
12/11/2014 |
- |
- |
6750000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL
WMUMBAIMH400013IN |
|
2 |
B30656540 |
10332138 |
STATE BANK OF INDIA (LEAD BANK OF THE SBI &
SIB CONSORTIUM) |
07/01/2012 |
- |
- |
600000000.0 |
MID CORPORATE GROUPINDUSTRIAL FINANCE BRANCH, 155,
ANNA SALAICHENNAITN600002IN |
|
3 |
B29265071 |
10305686 |
STATE BANK OF INDIA |
29/07/2011 |
17/12/2011 |
- |
575000000.0 |
MID CORPORATE GROUP, INDUSTRIAL FINANCE
BRANCH155, ANNA SALAICHENNAITN600002IN |
CORPORATE INFORMATION
Business Activity: The Company is engaged in manufacturing of Mild Steel Billets. The Company imports Scrap and purchases locally sponge iron and scrap.
STATE OF
COMPANY'S AFFAIRS AND FUTURE OUTLOOK
STATE OF
AFFAIRS
1. The Company is engaged in the business of manufacture of MS Billets and there has been no change in the business of the Company during the financial year ended 31st March, 2017.
2 The highlights of the Company's performance are as under:-
i. Revenue from operations increased by 14% from INR 2019.600 Million to INR 2303.500 Million.
ii. Net Profit for the year increased by 120% from INR 11.500 Million to INR 25.300 Million.
The increase in revenue, net profit as mentioned above is accredited to increase in turnover in comparison to the last financial year.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Computer equipments
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 65.23 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 79.50
|
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
BVA |
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.