|
|
|
MIRA INFORM REPORT
|
Report No. : |
494294 |
|
Report Date : |
03.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
ESSAE DIGITRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
34 and 35, Bommasandra Industrial Area, Anekal Taluk, Bangalore – 560099, Karnataka |
|
Tel. No.: |
91-80-40834714 / 40834723 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
02.02.1996 |
|
|
|
|
Com. Reg. No.: |
08-019747 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 14.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31101KA1996PTC019747 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0796001731 |
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|
|
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TIN / CST No.: |
29600310373 |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
29AAACE3212F1Z4 |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAACE3212F |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer
of electronic weigh bridges, weighing machine, automobile components etc. [Registered Activity] |
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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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
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Comments : |
Subject was incorporated in the year 1996. It is a manufacturer of
weigh bridges. For the financial year 2017, the company has achieved revenue growth of
11.17% as compared to the previous year along with an average profit margin
of 3.77%. Rating takes into consideration sound financial risk profile of the
company marked by adequate networth base along with negligible debt level and
positive working capital. Rating takes into consideration the subject’s healthy Earnings Per
Share of INR 396 against the Face Value of INR 100. Rating also takes into account the subject’s long established track
record of business operations along with extensive experience of its
promoters. Business is active. Payments seems to be regular and as per
commitments. In view of aforesaid, the company can be considered for business
dealings with 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 |
CRISIL |
|
Rating |
Long term rating= BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
21.07.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating=A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
21.07.2017 |
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 DENIED BY
|
Name : |
Mr. Rahul |
|
Designation : |
Treasury Department |
|
Contact No.: |
91-9342680168 |
|
Date : |
26.02.2018 |
Management Non-Cooperative (91-80-40834723)
LOCATIONS
|
Registered Office/ Factory : |
34 and 35, Bommasandra Industrial Area, Anekal Taluk , Bangalore – 560099, Karnataka, India |
|
Tel. No.: |
91-80-40834714 / 40834723 |
|
Mobile No.: |
91-9342680168 (Mr. Rahul) |
|
Fax No.: |
91-80-40834720 / 40834683 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Head Office/ Marketing and Service Department: |
Truck Scale Division, No. 13, Old No.246, 13th Cross, 2nd Floor, Wilson Garden, Bangalore – 560027, Karnataka, India |
|
|
|
|
Hub Drive Division: |
Survey No 51/1, Chikku Begure Gate, Near Amar Transport Godown, 7th Mile Hosur Road, Bangalore – 560068, Karnataka, India |
|
Tel. No.: |
91-80-42045321-323 |
|
|
|
|
Machined Components
Division: |
No. 195, Bommasandra Industrial Area, Anekal Taluk, Bangalore – 560099, Karnataka, India |
|
Tel. No.: |
91-80-40834505 |
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Fax No.: |
91-80-27833551 |
|
|
|
|
Branch Offices: |
7 Branches all over India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Prakash Venkatesan |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
No.457, 3rd Cross, Wilson Garden, Bangalore – 560027, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.04.1971 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduation |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.10.2014 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ABRPV2531P |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00384859 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sengunam Arunachalam Venkatesan |
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|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
No 27, Essae Nivas, 9th Cross, Wilson Garden, Bangalore – 560027,
Karnataka, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.10.1931 |
||||||||||||||||||||||||||||||||||||||||
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Qualification : |
Graduation |
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Date of Appointment : |
08.02.1996 |
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PAN No.: |
ABNPV9559M |
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DIN No.: |
00384949 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Srinivasan Jagannathan |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
"Gayathri" No.16, Sriram Nagar, South Street, Alwarpet,
Chennai – 600018, Telangana, India |
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|
Date of Birth/Age : |
22.08.1939 |
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Qualification : |
Graduation |
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|
Date of Appointment : |
31.05.2014 |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00063660 |
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Nand Kumar Kongot Unni |
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Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
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Address : |
A-36, Friends Colony (East), New Delhi – 110065, India |
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|
Date of Birth/Age : |
15.11.1954 |
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Date of Appointment : |
27.06.2015 |
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DIN No.: |
00292105 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Mohan Rangan |
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Designation : |
Director |
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Address : |
600, 12th Main HalIi Stage, Bangalore – 560008, Karnataka, India |
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Date of Birth/Age : |
03.09.1960 |
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Qualification : |
Graduation |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.05.2014 |
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DIN No.: |
01116821 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Rahul |
|
Designation : |
Treasury Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Prakash Venkatesan |
|
42214 |
|
Vasanthi Krishnana |
|
18502 |
|
Narsimha Sabramanian |
|
17160 |
|
Balaji Sabramanian |
|
16970 |
|
Prabhu Chandran |
|
14892 |
|
Karthik Vishwanathan |
|
11760 |
|
Ranjini Chandrashekhar |
|
10400 |
|
Vidya Prakash |
|
2994 |
|
Mallika Vishwnathan |
|
1800 |
|
Vidya Vishwaqnathan |
|
1800 |
|
S.A. Viswanathan |
|
1800 |
|
Uma Chandran |
|
1134 |
|
Shanti Chandran |
|
1080 |
|
S.A. Venkatesan |
|
250 |
|
B. Subhashnee |
|
190 |
|
Sri Vidya Prabhu |
|
54 |
|
|
|
|
|
Total |
|
143000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.08.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
29.70 |
|
Public/Other than promoters
[Individual/Hindu Undivided Family (Indian)] |
70.30 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of electronic weigh bridges, weighing machine, automobile components etc. [Registered Activity] |
||||||
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|
Products / Services
: |
|
||||||
|
|
|
||||||
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Brand Names : |
Not Available |
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|
|
|
||||||
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Agencies Held : |
Not Available |
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|
||||||
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Exports : |
Not Divulged |
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|
||||||
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Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
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Customers : |
|
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Canara Bank, Cantonment Branch No 85, M G
Road, Bangalore – 560001, Karnataka, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
M A Narasimhan and Company Chartered Accountants |
|
Address : |
No. 25, Old No. 13, 7th Cross, S.P. Extension Malleswaram, Bangalore – 560003, Karnataka, India |
|
PAN No.: |
AAGFM7833H |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associate Companies: |
· Essae Teraoka Limited · Essae Technologys Private Limited · Essae Chandran Institute |
CAPITAL STRUCTURE
AS ON 29.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
INR 100/- each |
INR 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
143000 |
Equity Shares |
INR 100/- each |
INR 14.300 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 |
14.300 |
14.300 |
7.150 |
|
(b) Reserves & Surplus |
580.837 |
524.166 |
515.077 |
|
(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) |
595.137 |
538.466 |
522.227 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
140.097 |
171.316 |
180.930 |
|
(b) Deferred tax liabilities (Net) |
7.676 |
7.596 |
6.214 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
20.375 |
18.462 |
6.709 |
|
Total Non-current
Liabilities (3) |
168.148 |
197.374 |
193.853 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
135.755 |
113.564 |
104.033 |
|
(b) Trade
payables |
125.676 |
96.276 |
111.882 |
|
(c) Other
current liabilities |
96.712 |
83.420 |
72.008 |
|
(d) Short-term
provisions |
10.845 |
12.182 |
21.712 |
|
Total Current
Liabilities (4) |
368.988 |
305.442 |
309.635 |
|
|
|
|
|
|
TOTAL |
1132.273 |
1041.282 |
1025.715 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
445.612 |
456.748 |
401.271 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
20.142 |
3.656 |
55.102 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.200 |
0.200 |
0.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
5.666 |
3.638 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
471.620 |
464.242 |
456.573 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
124.817 |
145.516 |
122.949 |
|
(c) Trade
receivables |
413.782 |
299.459 |
320.494 |
|
(d) Cash
and cash equivalents |
26.923 |
42.003 |
41.139 |
|
(e)
Short-term loans and advances |
84.666 |
80.758 |
72.974 |
|
(f) Other
current assets |
10.465 |
9.304 |
11.586 |
|
Total
Current Assets |
660.653 |
577.040 |
569.142 |
|
|
|
|
|
|
TOTAL |
1132.273 |
1041.282 |
1025.715 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1501.565 |
1350.687 |
1254.222 |
|
|
|
Other Income |
7.686 |
5.333 |
0.852 |
|
|
|
TOTAL |
1509.251 |
1356.020 |
1255.074 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
784.363 |
676.346 |
664.222 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
0.105 |
(0.310) |
0.083 |
|
|
|
Employee Benefits Expenses |
264.169 |
258.038 |
231.130 |
|
|
|
CSR expenditure |
0.150 |
0.650 |
0.200 |
|
|
|
Other
expenses |
315.984 |
288.059 |
235.616 |
|
|
|
TOTAL |
1364.771 |
1222.783 |
1131.251 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
144.480 |
133.237 |
123.823 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
42.555 |
44.342 |
31.695 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
101.925 |
88.895 |
92.128 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
42.392 |
47.646 |
33.886 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
59.533 |
41.249 |
58.242 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.862 |
1.383 |
3.916 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
56.671 |
39.866 |
54.326 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (INR) |
396.00 |
279.00 |
760.00 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
45.989 |
89.973 |
6.583 |
|
Net cash flows from (used in) operating activities |
77.604 |
129.508 |
33.602 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
100.58 |
80.92 |
93.27 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.63 |
4.51 |
3.91 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
58.48 |
51.96 |
61.48 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.16 |
0.92 |
1.01 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.31 |
0.29 |
0.27 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.45 |
0.46 |
0.48 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.46 |
0.53 |
0.55 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.62 |
0.57 |
0.59 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.78 |
0.86 |
0.87 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.40 |
3.00 |
3.91 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
3.77 |
2.95 |
4.33 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.01 |
3.83 |
5.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
9.52 |
7.40 |
10.40 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.79 |
1.89 |
1.84 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.45 |
1.41 |
1.44 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.53 |
0.52 |
0.51 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
19.29 |
19.92 |
39.85 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.79 |
1.89 |
1.84 |
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 |
7.150 |
14.300 |
14.300 |
|
Reserves & Surplus |
515.077 |
524.166 |
580.837 |
|
Net
worth |
522.227 |
538.466 |
595.137 |
|
|
|
|
|
|
Long Term borrowings |
180.930 |
171.316 |
140.097 |
|
Short Term borrowings |
104.033 |
113.564 |
135.755 |
|
Total
borrowings |
284.963 |
284.880 |
275.852 |
|
Debt/Equity
ratio |
0.546 |
0.529 |
0.464 |
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
|
1254.222 |
1350.687 |
1501.565 |
|
|
|
7.691 |
11.170 |
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
|
1254.222 |
1350.687 |
1501.565 |
|
Profit/(Loss) |
54.326 |
39.866 |
56.671 |
|
|
4.33% |
2.95% |
3.77% |
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 |
Yes |
|
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 |
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 |
NOTE: Registered office
of the company has been shifted from A-1, Essa Industrial Estate, 62/3, Begur
Hobli Road, Bommanahalli, Bangalore – 560068, Karnataka, India to the present
address w.e.f. 01.08.2007
RESULTS OF OPERATIONS:
Revenue from operations recorded a growth of 11.17% during FY 2016-17. Profit before tax has increased by 44.33%. The Revenue in weighing business recorded a growth of 22.0% while the Auto components business was flat.
The Net Profit of the company registered a growth of 42.15% over last year. This was contributed by higher product sales and service revenue growth in weighing business.
OUTLOOK FOR THE CURRENT YEAR 2017-18:
Buoyed by positive investment climate of the country in infrastructure projects and introduction of level playing tax regime, market for weighing systems is likely to be positive during 2017-18. The two wheeler segment which contributes to about 70% of Auto components business is also expected to grow by 15% over last year volumes. All coal blocks that were put on hold have shown revival of investment which should propel demand for rapid load out systems.
Based on these positive environmental factors the company’s top line is expected to register a healthy and robust growth. Company has initiated several measures to contain cost and arrest losses incurred in Auto Component Business.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
77.741 |
87.740 |
|
|
|
|
|
Total |
77.741 |
87.740 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G38557807 |
100083811 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
27/01/2017 |
- |
- |
30000000.0 |
NO 7 MG ROAD BANGALORE KA 560001IN |
|
2 |
G38558334 |
100083814 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
27/01/2017 |
- |
- |
90000000.0 |
NO 7 MG ROAD BANGALORE KA 560001IN |
|
3 |
G38556882 |
100083808 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
06/01/2017 |
- |
- |
9000000.0 |
NO 7 MG ROAD BANGALORE KA 560001IN |
|
4 |
C70563788 |
10603404 |
CITI BANK N.A. |
09/09/2015 |
- |
- |
48000000.0 |
2ND FLOOR, NO. 5M. G. ROAD BANGALORE KA560001IN |
|
5 |
C22808349 |
10522266 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
16/09/2014 |
- |
- |
120000000.0 |
NO 7 MG ROAD BANGALORE KA 560001IN |
|
6 |
G38560322 |
10522214 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
16/09/2014 |
27/01/2017 |
- |
90000000.0 |
NO 7 MG ROAD BANGALORE KA 560001IN |
|
7 |
Y10291468 |
90189569 |
KARNATAKA STATE FINANCIAL CORPORATION |
31/10/2002 |
- |
- |
8000000.0 |
THIMMAIAH ROAD BANGALOE KAIN |
|
8 |
Z01893181 |
80068242 |
CANARA BANK |
24/05/2001 |
- |
- |
25000000.0 |
WILSON GARDEN BANGALORE KA560001IN |
|
9 |
G63468219 |
80015582 |
CANARA BANK |
04/11/2000 |
13/11/2017 |
- |
400000000.0 |
CANTONMENT BRANCH NO 85 M G ROAD BANGALORE KA560001IN |
|
10 |
C70569496 |
80068241 |
CANARA BANK |
20/02/1997 |
- |
05/11/2015 |
500000.0 |
CANTONMENT BRANCH BANGALORE KA560001IN |
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 : |
SPR |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
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 |
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.