|
|
|
MIRA
INFORM REPORT
|
Report No. : |
495554 |
|
Report Date : |
03.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
HETTICH INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Durolite House, Opposite SAB TV Tower, New Link
Road, Andheri (West), Mumbai - 400053, Maharashtra |
|
Tel. No.: |
91-22-26743289 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
29.11.1999 |
|
|
|
|
Com. Reg. No.: |
11-161129 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 58.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36109MH1999PTC161129 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0400022435 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACH8849M1ZX |
|
|
|
|
TIN No: |
27440290900 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH10141F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH8849M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is mainly trading in furniture fittings in
domestic and international markets and also engaged in manufacturing of
baskets and related wire products. (Registered Activity and also
Confirmed by management) |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 8300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1999 and it is having good track records. Hettich India Pvt. Ltd is a Joint Venture between Hettich Group, Germany and the Saroj Poddar Group. It has a pan India presence with a customer base of over 1500, which consist of large and small Dealers, Furniture and Kitchen manufacturers. For the financial year 2017, the company has increased its revenue from operations as compared to previous year and reported decent profitability margin of 8.65%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and negligible debt balance sheet. Further, rating also reflects from long & established presence of Hettich group worldwide with strong brand recognition, highly experienced & qualified management, operational support derived from the parent in terms of technical assistance and sourcing arrangements and improvement in the revenue as well as profitability profile. However, rating strength is partially offset by Competitive intensity of business and HIPL’s products are imported and sold in the domestic market, its margins remain exposed to foreign exchange fluctuation risk. Trade relations are reported as fair. Business is active. Payment terms are seems 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 |
CARE |
|
Rating |
Issuer Rating (AA-) |
|
Rating Explanation |
High Degree of safety and very low credit risk. |
|
Date |
14.11.2017 |
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 DENIED
Management non-cooperative (Tel No.: 91-2743289/ 3356/ 4089)
LOCATIONS
|
Registered Office : |
3rd Floor, Durolite House, Opposite SAB TV Tower, New Link
Road, Andheri (West), Mumbai - 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26743289/ 3356/ 4089 |
|
Fax No.: |
91-22-26743267 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
Plot No. 304 to 309, 311 to 316 Dhanora- Nandesari Road,
Dhanora |
|
|
|
|
Head Office: |
A 26/4, 1st Floor, Mohan Cooperative Industrial
Estate, New Delhi – 110044, India |
|
Tel. No.: |
91-11-48894000/48894005 |
|
Fax No.: |
91-11-48894044 |
|
|
|
|
Regional office: |
2nd Floor, “Sai Krishna”,
797-A, Road No. 36, Jubilee Hills, Hyderabad – 500 034, Telangana,
India |
|
|
|
|
Branch Office : |
Located at
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Anil Kumar Goel |
|
Designation : |
Managing director |
|
Address : |
70, Rajdhani Enclave, Pitampura, New Delhi - 110034, India |
|
Date of Birth/Age : |
01.02.1958 |
|
Qualification : |
B.Com (ACA) |
|
Date of Appointment : |
01.01.2005 |
|
Qualification : |
B. Com, ACA |
|
DIN No.: |
00103997 |
|
PAN No.: |
ABWPG4504A |
|
|
|
|
Name : |
Mr. Saroj Kumar Poddar |
|
Designation : |
Director |
|
Address : |
Poddar Niket, 2, Gurusaday Road, Kolkata - 700019, West
Bengal, India |
|
Date of Birth/Age : |
15.09.1945 |
|
Date of Appointment : |
29.01.2001 |
|
Qualification : |
B.Com (Hons) |
|
DIN No.: |
00008654 |
|
PAN No.: |
AFTPP2386N |
|
|
|
|
Name : |
Mr. Andreas Berthold Hettich |
|
Designation : |
Director |
|
Address : |
IM Groben Vorwerk 25, Herford, 32049, Germany |
|
Date of Birth/Age : |
13.08.1969 |
|
Qualification : |
Dr. (PHD) Dipl.-ING. (Graduate Engineer) Electrical Engineering |
|
Date of Appointment : |
16.12.2008 |
|
DIN No.: |
02366338 |
|
|
|
|
Name : |
Mr. Akshay Poddar |
|
Designation : |
Director |
|
Address : |
Poddar Niket, 2, Gurusaday Road, Kolkata - 700019, West
Bengal, India |
|
Date of Appointment : |
29.08.2014 |
|
DIN No.: |
00008686 |
|
PAN No.: |
AFUPP0096C |
|
|
|
|
Name : |
Mr. Dieter Wirths |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Lindenstrabe 11, Hiddenhausen, 32120, Germany |
|
Date of Birth/Age : |
31.08.1952 |
|
Qualification : |
Dr. (PHD) ING.(Graduate Engineer) Material Science |
|
Date of Appointment : |
01.06.2012 |
|
DIN No.: |
05254007 |
|
|
|
|
Name : |
Mr. Sanjeev Singh |
|
Designation : |
Additional Director |
|
Address : |
1, Shivam Grass Court Society, Sama Savli Road, Vadodara – 390008, Gujarat, India |
|
Date of Birth/Age : |
06.09.1963 |
|
PAN No.: |
AGEPS0299K |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
11.04.2016 |
|
DIN No.: |
07483647 |
KEY EXECUTIVES
|
Name : |
Mr. Sujeet Kumar |
|
Designation : |
Secretary |
|
Address : |
C 137, National Apartment , Plot No 4 , Sector-3, Dwarka,
New Delhi, 110075, India |
|
Date of Birth/Age : |
22.09.1970 |
|
Date of Appointment : |
10.12.2013 |
|
PAN No: |
AAJPK0878R |
|
|
|
|
|
|
|
Name : |
Aashish K. Bhatt and Associates |
|
Designation : |
Practicing Company Secretary |
|
Address : |
D/101, Lata Annexe, Above Axis Bank, W.E. Highway, Borivali (East), Mumbai – 400066, Maharashtra, India |
|
Mob. No: |
91-9867151081 |
|
Telefax: |
91-22-28461715 |
|
Email: |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Anton Hettich Austandbeteiligungs Verwaltungs GmbH, |
|
2900000 |
|
Saroj Kumar Poddar |
|
1550000 |
|
Akshay Poddar |
|
700000 |
|
Adventz Finance Private Limited, India |
|
650000 |
|
Total |
|
5800000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
26.72 |
|
Promoters- Individual/Hindu Undivided Family- Individual/Hindu Undivided Family- Foreign national (Other than NRI) |
12.07 |
|
Promoters- Body corporate |
11.21 |
|
Promoters- Others |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is mainly trading in furniture fittings in
domestic and international markets and also engaged in manufacturing of
baskets and related wire products. (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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|
||||
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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 |
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|
||||
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Terms : |
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||||
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Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
|
||||||||||||||||||||||
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||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th -32nd Floor, Indiabulls Finance Centre, Elphinstone Mill Compound, senapati Bapat Marg, Elphinstone (West), Mumbai - 400013, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD7919A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Co-Venturer: |
|
|
|
|
|
Enterprise
over which Key Managerial Personnel is able to exercise significant
influence: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
INR 10/- each |
INR 60.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5800000 |
Equity Shares |
INR 10/- each |
INR 58.000
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 |
58.000 |
58.000 |
58.000 |
|
(b) Reserves and Surplus |
2836.281 |
2417.734 |
2084.167 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2894.281 |
2475.734 |
2142.167 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
67.500 |
246.950 |
146.683 |
|
(b) Deferred tax liabilities (Net) |
55.049 |
31.726 |
31.323 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
87.798 |
79.969 |
13.730 |
|
Total Non-current
Liabilities (3) |
210.347 |
358.645 |
191.736 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
69.397 |
0.000 |
|
(b) Trade
payables |
741.562 |
503.357 |
386.454 |
|
(c) Other
current liabilities |
371.307 |
291.761 |
315.007 |
|
(d) Short-term
provisions |
86.836 |
15.697 |
92.722 |
|
Total Current
Liabilities (4) |
1199.705 |
880.212 |
794.183 |
|
|
|
|
|
|
TOTAL |
4304.333 |
3714.591 |
3128.086 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1438.949 |
1200.825 |
826.351 |
|
(ii)
Intangible Assets |
9.055 |
5.824 |
0.044 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
8.269 |
76.265 |
|
(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 loans and advances |
356.500 |
293.011 |
245.040 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1804.504 |
1507.929 |
1147.700 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1056.378 |
957.160 |
807.242 |
|
(c) Trade
receivables |
1304.469 |
1137.005 |
885.643 |
|
(d) Cash and
bank balances |
39.649 |
31.850 |
194.778 |
|
(e)
Short-term loans and advances |
99.333 |
80.647 |
92.723 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2499.829 |
2206.662 |
1980.386 |
|
|
|
|
|
|
TOTAL |
4304.333 |
3714.591 |
3128.086 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
6048.449 |
5123.407 |
5736.137 |
|
|
Other Income |
84.344 |
12.589 |
63.129 |
|
|
TOTAL |
6132.793 |
5135.996 |
5799.266 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
282.220 |
134.609 |
99.137 |
|
|
Purchases of
Stock-in-Trade |
3716.334 |
3300.564 |
3318.979 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(68.971) |
(133.359) |
214.273 |
|
|
Employee benefit expense |
454.839 |
380.549 |
414.031 |
|
|
CSR expenditure |
12.011 |
3.000 |
0.000 |
|
|
Other expenses |
784.236 |
662.056 |
714.985 |
|
|
Prior period items before tax |
0.000 |
0.000 |
2.950 |
|
|
TOTAL |
5180.669 |
4347.420 |
4764.355 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
952.124 |
788.576 |
1034.911 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
42.381 |
25.225 |
30.418 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
909.743 |
763.351 |
1004.493 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
128.441 |
112.447 |
105.348 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
781.302 |
650.904 |
899.145 |
|
|
|
|
|
|
|
Less |
TAX |
258.044 |
212.626 |
306.013 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
523.258 |
438.278 |
593.132 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
727.396 |
645.829 |
409.092 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Interim Dividend |
87.000 |
87.000 |
87.000 |
|
|
Tax on Dividend |
17.711 |
17.711 |
17.395 |
|
|
Transfer to General Reserve |
250.000 |
250.000 |
250.000 |
|
|
Transfer to Debtors Contingency Reserve |
2.000 |
2.000 |
2.000 |
|
|
Balance
Carried to the B/S |
893.943 |
727.396 |
645.829 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
34.638 |
18.685 |
51.571 |
|
|
Commission |
0.765 |
0.291 |
0.000 |
|
|
TOTAL EARNINGS |
35.403 |
18.976 |
51.571 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Inventories |
2943.824 |
2598.457 |
2734.649 |
|
|
Raw Material and Components |
61.671 |
32.638 |
8.607 |
|
|
Capital Goods |
255.401 |
106.020 |
44.912 |
|
|
Stores and Spares |
7.643 |
0.958 |
7.085 |
|
|
TOTAL IMPORTS |
3268.539 |
2738.073 |
2795.253 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
90.217 |
75.57 |
102.26 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
179.450 |
149.733 |
220.448 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
935.460 |
501.320 |
868.701 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
750.575 |
252.569 |
605.392 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days [Sundry Debtors
/ Income * 365] |
|
78.72 |
81.00 |
56.35 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
4.64 |
4.51 |
6.48 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
67.69 |
53.48 |
41.27 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.90 |
0.82 |
1.28 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.66 |
0.65 |
1.15 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio
[(Borrowing + Current Liabilities) / Total Assets] |
|
0.34 |
0.34 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.09 |
0.19 |
0.17 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.41 |
0.36 |
0.37 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.50 |
0.49 |
0.42 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
22.47 |
31.26 |
34.02 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
8.65 |
8.55 |
10.34 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
12.16 |
11.80 |
18.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
18.08 |
17.70 |
27.69 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio
[Current Assets / Current Liabilities] |
|
2.08 |
2.51 |
2.49 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.20 |
1.42 |
1.48 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.67 |
0.67 |
0.68 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
4.26 |
8.04 |
6.33 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
2.08 |
2.51 |
2.49 |
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 |
58.000 |
58.000 |
58.000 |
|
Reserves & Surplus |
2084.167 |
2417.734 |
2836.281 |
|
Net
worth |
2142.167 |
2475.734 |
2894.281 |
|
|
|
|
|
|
Long-term borrowings |
146.683 |
246.950 |
67.500 |
|
Short term borrowings |
0.000 |
69.397 |
0.000 |
|
Current maturities of
long-term debts |
220.448 |
149.733 |
179.450 |
|
Total
borrowings |
367.131 |
466.080 |
246.950 |
|
Debt/Equity
ratio |
0.171 |
0.188 |
0.085 |
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 |
5736.137 |
5123.407 |
6048.449 |
|
|
|
(10.682) |
18.055 |
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 |
5736.137 |
5123.407 |
6048.449 |
|
Profit/ (Loss) |
593.132 |
438.278 |
523.258 |
|
|
10.34
% |
8.55
% |
8.65
% |
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 |
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 two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
OPERATIONS
Performance of the Company during the year has been satisfactory from sales and profitability view point. Constant efforts by the management to grow the top-line helped the company to register growth in sales.
CORPORATE
INFORMATION
Subject is incorporated under the provisions of the Companies Act, 1956 on November 29, 1999. The Company is mainly trading in furniture fittings in domestic and international markets. During the year, the Company has set up of a manufacturing facility in Vadodara for manufacturing of baskets and related wire products.
The Company also earns commission income in respect of direct sales made by Hettich Germany for which orders are procured by the Company."
INDEX OF CHARGES:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C41987678 |
10371301 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD. |
09/08/2012 |
05/01/2015 |
- |
1661300000.0 |
11TH FLOOR, BUILDING NO.3, NESCO IT PARK,WESTERN EXPRESS HIGHWAY, GOREGAON (E)MUMBAIMH400063IN |
|
2 |
B38399242 |
80040944 |
PUNJAB NATIONAL BANK LIMITED |
28/06/2003 |
- |
13/04/2012 |
7500000.0 |
LARGE CORPORATE BRANCH,A-9, RAJEEV CHOWK, CONNAUGHT PLACE,NEW DELHIDL110003IN |
|
3 |
B38398772 |
80040943 |
PUNJAB NATIONAL BANK |
28/06/2003 |
- |
13/04/2012 |
2500000.0 |
LARGE CORPORATE BRANCH,A-9,RAJEEV CHOWK, CONNAUGHT PLACE,NEW DELHIDL110003IN |
|
4 |
B38781571 |
80040942 |
PUNJAB NATIONAL BANK |
28/06/2003 |
- |
13/04/2012 |
10000000.0 |
LARGE CORPORATION BRANCH,A-9, RAJEEV CHOWK, CONNAUGHT PLACE,NEW DELHIDL110003IN |
FIXED ASSETS:
Tangible assets
- Land – Freehold
- Buildings
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Computer equipments
- Vehicles
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 : |
SVT |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
MTN |
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.