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|
|
MIRA INFORM REPORT
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Report No. : |
494630 |
|
Report Date : |
03.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
EMPIRE SPICES AND FOODS LIMITED |
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Registered
Office : |
D-303, Everest Garden, Link Road, Ghatkopar (East), Mumbai – 400077,
Maharashtra |
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Tel. No.: |
91-22-25006007 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
02.09.1994 |
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Com. Reg. No.: |
11-080772 |
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Capital
Investment / Paid-up Capital : |
INR 26.951 Million |
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CIN No.: [Company Identification
No.] |
U15100MH1994PLC080772 |
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IEC No.: [Import-Export Code No.] |
0300054602 |
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TIN / CST No.: |
27530003779 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACE1056D1Z6 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACE1056D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The company is into the business of grinding and processing of spices, manufacturing of papad, papad atta and similar foods, manufacturing of sauces, pickles, chutney. [Registered activity] Manufacturer and exporter of spices and related food products. [Confirmed by management] |
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|
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No. of Employees
: |
800 (Approximately) |
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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Maximum Credit Limit : |
USD 640000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1994. The company is a
manufacturer and exporter of spices and related food products. As per the financial records of 2017, the company has achieved a
favourable growth of 15.98% in its revenue as compared to the previous year’s
revenue and has reported an average net profit margin of 2.21%. The company possesses satisfactory financial position marked by
adequate networth base along with low debt balance sheet profile and
sufficient liquidity position. Business is active. Payment seems to be usually correct. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
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 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Loans= BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
13.11.2017 |
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 (GENERAL DETAILS)
|
Name : |
Mrs. Amrita Dave |
|
Designation : |
Finance Manager |
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Contact No.: |
91-9552545707 |
|
Date : |
01.03.2018 |
LOCATIONS
|
Registered Office : |
D-303, Everest Garden, Link Road, Ghatkopar (East), Mumbai – 400077, Maharashtra,
India |
|
Tel. No.: |
91-22-25006007 |
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Mobile No.: |
91-9552545707 (Mrs. Amrita Dave) |
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Fax No.: |
91-22-25006007 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Corporate Office / Factory 1 : |
Empire House, Plot No. 30, 5th Crossing, Govind Nagar,
Nashik – 422008, Maharashtra, India |
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Tel. No.: |
91-253-259500682472516/2471664 |
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Fax No.: |
91-253-2500468 |
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Factory 2 : |
Aurangabad Pune Road, Shivrai Phata, Aurangabad – 411038, Maharashtra,
India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Umesh Laxminarayan Rathi |
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Designation : |
Managing director |
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Address : |
Vidyankatesh Bungalow, Tidke Colony, Near
Tup Sakhare Lawn, Nashik – 422002, Maharashtra, India |
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Date of Appointment : |
02.09.1994 |
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Din No.: |
00175730 |
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Other Directorship:
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Name : |
Mr. Anand Hemant Rathi |
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Designation : |
Director |
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Address : |
Anand Bunglow, Tidke Colony, Near Tup
Sakhare Lawn, Nashik – 422002, Maharashtra, India |
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Date of Birth/Age : |
27.05.1987 |
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Date of Appointment : |
01.01.2011 |
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DIN No.: |
03431923 |
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Name : |
Mr. Hemant Motilal Rathi |
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Designation : |
Director |
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Address : |
Anand Bunglow, Tidke Colony, Near Tup
Sakhare Lawn, Nashik – 422002, Maharashtra, India |
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Date of Appointment : |
02.09.1994 |
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DIN No.: |
00175854 |
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Other Directorship:
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Name : |
Mr. Sharad Deepchand Bedmutha |
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Designation : |
Director |
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Address : |
Sneh Bunglow, Kulkarni Colony, Near
Saraswati Apartment, Sharanpur Road, Nashik – 422002, Maharashtra, India |
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Date of Birth/Age : |
02.03.1957 |
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Date of Appointment : |
01.01.2011 |
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Din No.: |
03431938 |
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Name : |
Mr. Dnyaneshwar Murlidhar Bachhav |
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Designation : |
Director |
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Address : |
FL. 9, Roongtha Township, Building No. 3, Rane Nagar, Nashik – 422008,
Maharashtra, India |
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Date of Appointment : |
27.09.2012 |
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Din No.: |
05105320 |
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Name : |
Mr. Avinash Dattatreya Joshi |
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Designation : |
Director |
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Address : |
4, Samadhan, L.T. Road, Mulund (East), Mumbai – 400081, Maharashtra,
India |
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Date of Appointment : |
13.09.2016 |
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DIN No.: |
00102892 |
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Other Directorship:
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Name : |
Mr. Vilas Vishnu Shinde |
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Designation : |
Director |
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Address : |
Sr. No. 1102/8, Back Side At Police Barak, Adgaon, Nashik – 422101,
Maharashtra, India |
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Date of Appointment : |
13.09.2016 |
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DIN No.: |
02771771 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mrs. Amrita Dave |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
AS ON 27.09.2017
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
49.84 |
|
Promoters [Bodies
corporate] |
13.15 |
|
Public/Other than promoters
[Individual/Hindu Undivided Family (Indian)] |
37.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is into the business of grinding and processing of spices, manufacturing of papad, papad atta and similar foods, manufacturing of sauces, pickles, chutney. [Registered activity] Manufacturer and exporter of spices and related food products. [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 : |
·
Spices and related food products |
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Countries : |
·
Germany ·
USA |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Credit and Others (RTGS) |
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Purchasing : |
Credit |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Stockiest
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No. of Employees : |
800 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
AKNS and Associates Chartered Accountants |
|
Address : |
3, Shivdarshan Society (B), N.D. Patel Road, Nashik – 422001,
Maharashtra, India |
|
PAN No.: |
AAFFJ3595G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Others : |
· Rambandhu Masalewale Private Limited, India ·
Hemant Builders Private Limited, India |
CAPITAL STRUCTURE
AS ON 27.09.2017
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 |
|
|
|
|
|
|
2695130 |
Equity Shares |
INR 10/- each |
INR 26.951 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 |
26.951 |
26.951 |
22.189 |
|
(b) Reserves & Surplus |
196.791 |
168.933 |
119.475 |
|
(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) |
223.742 |
195.884 |
141.664 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
33.884 |
11.880 |
17.934 |
|
(b) Deferred tax liabilities (Net) |
11.075 |
13.570 |
13.144 |
|
(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) |
44.959 |
25.450 |
31.078 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
67.665 |
82.286 |
80.497 |
|
(b) Trade
payables |
94.485 |
42.883 |
52.477 |
|
(c) Other
current liabilities |
19.707 |
26.612 |
25.032 |
|
(d) Short-term
provisions |
46.194 |
44.868 |
35.519 |
|
Total Current
Liabilities (4) |
228.051 |
196.649 |
193.525 |
|
|
|
|
|
|
TOTAL |
496.752 |
417.983 |
366.267 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
174.883 |
171.607 |
133.374 |
|
(ii)
Intangible Assets |
6.696 |
6.877 |
1.731 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
8.763 |
2.280 |
0.737 |
|
(b) Non-current Investments |
0.859 |
1.908 |
2.721 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
9.511 |
7.068 |
6.181 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
200.712 |
189.740 |
144.744 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
225.933 |
188.540 |
203.447 |
|
(c) Trade
receivables |
29.834 |
25.775 |
5.054 |
|
(d) Cash
and cash equivalents |
8.311 |
2.403 |
2.343 |
|
(e)
Short-term loans and advances |
29.187 |
9.361 |
8.754 |
|
(f) Other
current assets |
2.775 |
2.164 |
1.925 |
|
Total
Current Assets |
296.040 |
228.243 |
221.523 |
|
|
|
|
|
|
TOTAL |
496.752 |
417.983 |
366.267 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1357.518 |
1170.486 |
1072.402 |
|
|
Other Income |
4.823 |
4.226 |
4.604 |
|
|
TOTAL |
1362.341 |
1174.712 |
1077.006 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
837.639 |
720.797 |
724.893 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(10.198) |
3.649 |
(55.725) |
|
|
Employee benefit expense |
117.116 |
106.742 |
91.168 |
|
|
Other expenses |
339.090 |
267.826 |
241.901 |
|
|
Prior period items |
0.033 |
0.033 |
0.000 |
|
|
TOTAL |
1283.680 |
1099.047 |
1002.237 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
78.661 |
75.665 |
74.769 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
18.941 |
16.583 |
12.898 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
59.720 |
59.082 |
61.871 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
14.378 |
14.415 |
12.481 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
45.342 |
44.667 |
49.390 |
|
|
|
|
|
|
|
Less |
TAX |
15.371 |
14.844 |
16.895 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
29.971 |
29.823 |
32.495 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
11.12 |
12.54 |
14.64 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
19.707 |
26.612 |
25.032 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activities |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
8.02 |
8.04 |
1.72 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
45.50 |
45.41 |
212.19 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
41.17 |
21.72 |
26.42 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.35 |
0.40 |
0.37 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.41 |
0.42 |
0.55 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.57 |
0.56 |
0.65 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.54 |
0.62 |
0.87 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.02 |
1.00 |
1.37 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.85 |
0.92 |
0.96 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.15 |
4.56 |
5.80 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
2.21 |
2.55 |
3.03 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.03 |
7.13 |
8.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
13.40 |
15.22 |
22.94 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.30 |
1.16 |
1.14 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.31 |
0.20 |
0.09 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.45 |
0.47 |
0.39 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.50 |
4.48 |
5.56 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.30 |
1.16 |
1.14 |
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 |
22.189 |
26.951 |
26.951 |
|
Reserves & Surplus |
119.475 |
168.933 |
196.791 |
|
Net
worth |
141.664 |
195.884 |
223.742 |
|
|
|
|
|
|
Long-term borrowings |
17.934 |
11.880 |
33.884 |
|
Short term borrowings |
80.497 |
82.286 |
67.665 |
|
Current maturities of
long-term debts |
25.032 |
26.612 |
19.707 |
|
Total
borrowings |
123.463 |
120.778 |
121.256 |
|
Debt/Equity
ratio |
0.872 |
0.617 |
0.542 |
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 |
1072.402 |
1170.486 |
1357.518 |
|
|
|
9.146 |
15.979 |
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 |
1072.402 |
1170.486 |
1357.518 |
|
Profit/ (Loss) |
32.495 |
29.823 |
29.971 |
|
|
3.03
% |
2.55
% |
2.21
% |
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 |
Yes |
|
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 |
Yes |
|
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 |
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 |
Brief description of the company's working
during the year/state of company's affair:
The company has earned revenue of INR 1357.518 million during the year which has been increased as compared to previous year’s revenue. The company has earned a profit during the year amounting to INR 45.342 million which has increased as compared to previous year.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Other loans and advances |
2.521 |
2.644 |
|
|
|
|
|
Total |
2.521 |
2.644 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G54886312 |
100056120 |
AXIS BANK LIMITED |
04/10/2016 |
29/09/2017 |
- |
260000000.0 |
MAZDA TOWER, TRIMBAK NAKA, GPO ROAD NASHIK MH422001IN |
|
2 |
G27553684 |
10080271 |
STATE BANK OF INDIA |
29/11/2007 |
10/09/2015 |
28/11/2016 |
257000000.0 |
SME BRANCH, SHINGADA TALAO NASHIK MH422001IN |
|
3 |
C54176573 |
90155348 |
ICICI BANK LIMITED |
04/09/2002 |
- |
08/05/2015 |
2337000.0 |
ICICI BANK TOWERS BANDRA KURLA COMPLEX MUMBAI MH400051IN |
|
4 |
A57624272 |
90159562 |
THE NASIK MERCHANL CO-OP. BANK LTD. |
03/10/1996 |
14/10/1997 |
03/03/2009 |
1000000.0 |
RAVWAR PETH NASIK MH422001IN |
|
5 |
A28365831 |
90159980 |
THE SARASWAT CO-OP. BANK LTD. |
15/12/2000 |
- |
17/12/2007 |
3600000.0 |
NASIK BRANCH; RAJIV GANDHI SMARAKSARANPUR ROAD NASIK MH422002IN |
|
6 |
A28365419 |
90159905 |
THE SARASWAT CO-OP. BANK LTD. |
06/03/2000 |
15/02/2000 |
17/12/2007 |
3500000.0 |
NASIK BRANCH; SUYOJIT TRADE CENTRESARANPUR ROAD NASIK MH422002IN |
|
7 |
A28364537 |
10004240 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
29/04/2006 |
- |
17/12/2007 |
1500000.0 |
NASIK BRANCH NASHIK MH422002IN |
|
8 |
A28364925 |
90155199 |
THE SARASWAT CO-OP. BANK LTD. |
06/03/2000 |
- |
17/12/2007 |
716000.0 |
NASIK BRANCH; OPP. RAJIV GANDHI BHAVANSARANPUR ROAD NASIK MH422002IN |
|
9 |
A28364800 |
10069130 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
01/10/2007 |
- |
17/12/2007 |
5600000.0 |
SHARANPUR ROAD,OPP RAJIV GANDHI BHAVANSUYOJIT TRADE CENTRE NASIK MH422002IN |
|
10 |
A28364651 |
10059412 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
20/06/2007 |
- |
17/12/2007 |
7400000.0 |
SHARANPUR ROAD BRANCH, OPP. RAJIV GANDHI BHAVAN NASHIK MH422002IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 : |
PNM |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
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.