MIRA INFORM REPORT

 

 

Report No. :

495643

Report Date :

05.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

FLOWMORE LIMITED (w.e.f. 27.06.2008)

 

 

Formerly Known As :

FLOWMORE PRIVATE LIMITED

 

 

Registered Office :

Plot No-14 , Block – II, Mohan Co-Operative Industrial Estate, New Delhi - 110044

Tel. No.:

91-124-4563200

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

26.07.1967

 

 

Com. Reg. No.:

55-004773

 

 

Capital Investment / Paid-up Capital :

INR 210.000 Million

 

 

CIN No.:

[Company Identification No.]

U74899DL1967PLC004773

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

07AAACF0876E1ZV

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

AAACF0876E

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer, Importer, Developer, Deal in and sell complete range of power diesel and other pumps, agricultural farm machinery, other engineering goods. (Registered activity and also Confirmed by management)

 

 

No. of Employees :

1000 (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+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1967 and it is having fine track records.

 

For the financial year 2017, the company has increased in its revenue from operation as compared to previous year and maintained average profitability margin of 3.63%.

 

Rating takes into consideration strong financial profile of the company marked by healthy networth base and low debt balance sheet.

 

Further, rating also derives strength from its long track records of business operation along with healthy improvement in the revenue as well as profitability during the year and established market position.     

 

Trade relations are reported as fair. Business is active. Payments 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

BRICKWORKS

Rating

Long term rating : BBB+

Rating Explanation

Moderate degree of safety and moderate credit risk

Date

24.08.2017

 

Rating Agency Name

BRICKWORKS

Rating

Short term rating : A2

Rating Explanation

Moderate degree of safety and low credit risk

Date

24.08.2017

 

 

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 05.03.2018

 

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

 

Name :

Ms. Sarita Thakur

Designation :

Commercial Manager

Contact No.:

91-7042596461

Date :

03.03.2018

 

 

LOCATIONS

 

Registered Office :

Plot No-14 , Block – II, Mohan Co –Operative Industrial Estate, New Delhi – 110044, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

corporate@flowmoregroup.com

hpsharma1967@gmail.com

rkgupta@flowmoregroup.in

Website :

www.flowmoregroup.com

 

 

Corporate Office :

443, Udyog Vihar, Phase III, Gurugram - 122016, Haryana, India

Tel. No.:

91-124-4563200

Fax No.:

91-124-4563299

E-Mail :

corporate@flowmoregroup.com

 

 

Factory 1 :

9th Mile Stone, G. T. Road, Sahibaba Extension, P.O. Mohan Nagar, Uttar Pradesh, India

Tel. No.:

91-120-3004320-28

Fax No.:

91-120-3004329

E-Mail :

fplworks@flowgroup.com

 

 

Factory 2 :

28/A, Site-4, Sahibabad Industrial Area, Sahibabad, Ghaziabad - 201011, Uttar Pradesh, India

Tel. No.:

91-120-3004658/ 59

Fax No.:

91-120-4155929

E-Mail :

fbmworks@flowgroup.com

 

 

Branch Offices :

Located at:

 

·         Mumbai

·         Chennai

·         Kolkata

·         Dhanbad

·         Ahmedabad

·         Indore

·         Secunderabad

·         Bangalore

·         Raipur

·         Patna

·         Jamshedpur

·         Bhubneshwar

·         Jaipur

·         Ranchi

·         Kanpur

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Saurabh Gupta

Designation :

Managing Director

Address :

6, Shivji Marg, Rangpuri, New Delhi-110037, India

Date of Birth/Age :

29.07.1972

Qualification :

B.COM (H)

Date of Appointment :

01.11.2005

PAN No.:

AAAPG6908M

DIN No.:

00764711

Other Directorship :

CIN/FCRN

Company Name

Begin Date

End Date

U74110DL2013PLC253910

FLOWMORE SOLAR LIMITED

13/06/2013

-

U74140DL2009PTC195730

R G FREELANCERS PRIVATE LIMITED

05/11/2009

-

U74900DL2009PTC195724

G G ADVISORY SERVICES PRIVATE LIMITED

05/11/2009

-

U74140DL2009PTC195731

SAURABH ADVISORS PRIVATE LIMITED

05/11/2009

-

U72300DL2006PTC157170

FLOWMORE DESIGN & TECHNOLOGIES PRIVATE LIMITED

29/12/2006

-

U51909DL1996PTC078032

TEMPLETREE POWER CONSTRUCTION PRIVATE LIMITED

08/07/2008

-

U74899DL1992PTC048297

F P L PUMPS AND SPARES PRIVATE LIMITED

28/09/2010

-

U74899DL1985PTC021587

FLOWMORE ESTATES PRIVATE LIMITED

12/01/1995

-

U74899DL1979PTC009602

TOTAL ENGINEERING SERVICES PRIVATE LIMITED

08/07/2008

-

U74999DL1973PTC006743

USHAMIL ASSOCIATES PRIVATE LIMITED

29/09/2008

-

U74899DL1974PTC007287

DEVSHAKTI HYDRO POWER PRIVATE LIMITED

30/09/2013

-

 

 

Name :

Mr. Gaurav Gupta

Designation :

Whole-time Director

Address :

6, Shivaji Marg, Rangpuri, New Delhi-110037, India

Date of Birth/Age :

28.12.1970

Qualification :

B.COM(H) and MBA From USA

Date of Appointment :

01.11.2005

PAN No.:

AAAPG6949C

DIN No.:

00164590

Other Directorship :

CIN/FCRN

Company Name

Begin Date

End Date

U74110DL2013PLC253910

FLOWMORE SOLAR LIMITED

13/06/2013

-

U74140DL2009PTC195730

R G FREELANCERS PRIVATE LIMITED

05/11/2009

-

U74900DL2009PTC195724

G G ADVISORY SERVICES PRIVATE LIMITED

05/11/2009

-

U74140DL2009PTC195731

SAURABH ADVISORS PRIVATE LIMITED

05/11/2009

-

U72300DL2006PTC157170

FLOWMORE DESIGN & TECHNOLOGIES PRIVATE LIMITED

29/12/2006

-

U51909DL1996PTC078032

TEMPLETREE POWER CONSTRUCTION PRIVATE LIMITED

08/07/2008

-

U74899DL1992PTC048297

F P L PUMPS AND SPARES PRIVATE LIMITED

28/09/2010

-

U45202DL1991PLC046111

PUREARTH INFRASTRUCTURE LIMITED

16/09/2015

-

U74899DL1985PTC021587

FLOWMORE ESTATES PRIVATE LIMITED

12/01/1995

-

U74899DL1979PTC009602

TOTAL ENGINEERING SERVICES PRIVATE LIMITED

08/07/2008

-

U74999DL1973PTC006743

USHAMIL ASSOCIATES PRIVATE LIMITED

29/09/2008

-

U74899DL1974PTC007287

DEVSHAKTI HYDRO POWER PRIVATE LIMITED

30/09/2013

-

 

 

Name :

Mr. Rishabh Gupta

Designation :

Whole-time Director

Address :

6, Shivji Marg, Rangpuri, New Delhi-110037, India

Date of Birth/Age :

02.02.1978

Qualification :

BBA FROM USA

Date of Appointment :

01.11.2005

PAN No.:

AAEPG4163A

DIN No.:

00671390

Other Directorship :

CIN/FCRN

Company Name

Begin Date

End Date

U74899DL1979PTC009602

TOTAL ENGINEERING SERVICES PRIVATE LIMITED

08/07/2008

-

U74999DL1973PTC006743

USHAMIL ASSOCIATES PRIVATE LIMITED

29/09/2008

-

U74899DL1985PTC021587

FLOWMORE ESTATES PRIVATE LIMITED

28/09/2010

-

U74899DL1974PTC007287

DEVSHAKTI HYDRO POWER PRIVATE LIMITED

30/09/2013

-

U74899DL1992PTC048297

F P L PUMPS AND SPARES PRIVATE LIMITED

28/09/2010

-

U51909DL1996PTC078032

TEMPLETREE POWER CONSTRUCTION PRIVATE LIMITED

08/07/2008

-

U72300DL2006PTC157170

FLOWMORE DESIGN & TECHNOLOGIES PRIVATE LIMITED

29/12/2006

-

U74140DL2009PTC195731

SAURABH ADVISORS PRIVATE LIMITED

05/11/2009

-

U74900DL2009PTC195724

G G ADVISORY SERVICES PRIVATE LIMITED

05/11/2009

-

U74140DL2009PTC195730

R G FREELANCERS PRIVATE LIMITED

05/11/2009

-

U74110DL2013PLC253910

FLOWMORE SOLAR LIMITED

13/06/2013

-

 

 

Name :

Mr. Birendra Kumar

Designation :

Whole-time Director

Address :

17A/617, Vasundhra Sec-17, Block A, Ghaziabad-201014, Uttar Pradesh, India

Date of Appointment :

01.07.2015

DIN No.:

07179657

 

 

Name :

Mr. Anirudh Khaitan

Designation :

Director

Address :

A-31 Ansal Villa Satbari, Near Mehrauli, New Delhi-110074, India

Date of Appointment :

16.03.2015

DIN No.:

00755744

Other Directorship :

CIN/FCRN

Company Name

Begin Date

End Date

U24241WB1926PLC005236

JOHN PATERSON & CO (INDIA) LIMITED

26/02/2007

-

U51109WB1983PLC036900

ANSHUMAN PROJECTS LIMITED

26/02/2007

-

U65910WB1985PLC038673

ANSHUMAN FINANCE LIMITED

28/08/1998

-

U15549WB1985PTC038799

ANIRUDH COMMERCIAL PRIVATE LIMITED

22/08/2006

-

U70101WB1990PTC048251

ANIRUDH HOLDINGS PRIVATE LIMITED

28/08/1998

-

U74899DL1987PTC026891

WILD ORCHID FASHIONS PRIVATE LIMITED

28/08/1998

-

U74899DL1990PTC041216

ROSY IMPEX (INDIA) PRIVATE LIMITED

22/08/2006

-

U36101DL2004PTC127246

AA TRANSFORM DESIGN PRIVATE LIMITED

29/06/2004

-

U67190DL2004PTC129172

AN PLATINUM TRADE AND INVESTMENT CONSULTANTS PRIVATE LIMITED

17/09/2004

-

U85100DL2012PTC232099

SD WELLNESS PRIVATE LIMITED

18/04/2012

-

U15490DL2015PTC281405

WISDOM FOODS PRIVATE LIMITED

30/09/2016

-

U51909DL2015PLC282371

NARAH OVERSEAS LIMITED

02/07/2015

-

 

 

Name :

Mr. Mahesh Prasad Gupta

Designation :

Director

Address :

6 Shivji Marg, Rangpuri, Delhi-110037, India

Date of Birth/Age :

29.04.1922

Qualification :

B - Tech (Electrical, Mechanical)

Date of Appointment :

26.07.1967

DIN No.:

01058574

Other Directorship :

CIN/FCRN

Company Name

Begin Date

End Date

U74899DL1974PTC007287

DEVSHAKTI HYDRO POWER PRIVATE LIMITED

29/05/1974

-

U74999DL1973PTC006743

USHAMIL ASSOCIATES PRIVATE LIMITED

30/07/1973

-

U74899DL1979PTC009602

TOTAL ENGINEERING SERVICES PRIVATE LIMITED

17/05/1979

-

U74899DL1992PTC048297

F P L PUMPS AND SPARES PRIVATE LIMITED

31/08/2006

-

U51909DL1996PTC078032

TEMPLETREE POWER CONSTRUCTION PRIVATE LIMITED

11/04/1996

-

U72300DL2006PTC157170

FLOWMORE DESIGN & TECHNOLOGIES PRIVATE LIMITED

29/12/2006

-

 

 

Name :

Mr. Neoma Vasdev

Designation :

Director

Address :

6 Shivji Marg West End Green Farms, Rangpuri, New Delhi-110037, India

Date of Birth/Age :

Graduate

Qualification :

09.02.1981

Date of Appointment :

25.07.2016

DIN No.:

07575320

 

CIN/FCRN

Company Name

Begin Date

End Date

U74899DL1989PTC036712

A M ESTATES PRIVATE LIMITED

15/12/2017

-

 

 

Name :

Mr. Rishi Sahai

Designation :

Director

Address :

A-177, Sector-40, Noida-201303, Uttar Pradesh, India

Date of Birth/Age :

17.05.1971

Qualification :

Graduate

Date of Appointment :

16.03.2015

DIN No.:

00050208

Other Directorship :

CIN/FCRN

Company Name

Begin Date

End Date

U74140DL2004PTC125868

AFFINITY TECHNOSERVICES PRIVATE LIMITED

29/09/2008

-

U74140DL2005PTC140203

COGENCE MANAGEMENT CONSULTANCY SERVICES PRIVATE LIMITED

30/09/2015

-

U74140DL2008PTC183249

COGENCE ADVISORS PRIVATE LIMITED

11/03/2015

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Gautam Singh Karnawat

Designation :

Company Secretary

Address :

ZP-49, 2nd Floor, Pittam Pura, Delhi-110034, India

Date of Birth/Age :

18.07.1963

Date of Appointment :

25.02.2010

PAN No.:

AJJPK7733N

 

 

Name :

Mr. Nalin Kumar Nigam

Designation :

Chief Finance Officer

Address :

79, Baldev Park, Krishna Nagar, Delhi-110051, India

Date of Birth/Age :

23.02.1958

Qualification :

Graduate

Date of Appointment :

01.07.2015

PAN No.:

AEAPN8498R

 

 

Name :

Ms. Sarita Thakur

Designation :

Commercial Manager

 

 

MAJOR SHAREHOLDERS

 

As on 31.03.2017

 

Names of Shareholders

 

No. of Shares

GG Advisory Private Limited, India  

 

4280000

RG Freelancers Private Limited, India  

 

4280000

Saurabh Advisors Private Limited, India  

 

4280000

Janak Gupta and Rishabh Gupta

 

500490

Janak Gupta and Saurabh Gupta

 

320490

Janak Gupta and Gaurav Gupta

 

302220

Saurabh Gupta

 

2297070

Rishabh Gupta

 

2199510

Gaurav Gupta

 

2297070

Gaurav Gupta and Janak Gupta

 

100710

Saurabh Gupta and Janak Gupta

 

82440

Sanchyita Tradelink Private Limited, India

 

60000

Total

 

21000000

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2017

 

Category

Percentage

Promoters (Individual/Hindu Undivided Family – Indian)

38.57

Promoters (Body corporate)

61.14

Public/Other than promoters (Body corporate)

0.29

Total 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Importer, Developer, Deal in and sell complete range of power diesel and other pumps, agricultural farm machinery, other engineering goods. (Registered activity and also Confirmed by management)

 

 

Products / Services :

Item Code No.

Products/Services Description

99611892

Electrical equipment, General Purpose and Special

purpose Machinery and equipment,

Transport equipment

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         European Countries

·         Nigeria

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

L/C, Credit (30 Days), Others (RTGS)

 

 

Purchasing :

L/C, Credit (30 Days), Others (RTGS)

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

1000 (Approximately)

 

 

Bankers :

Banker Name :

Standard Chartered  Bank

Branch :

Narin Manzil, 23 Barakhamba Road, New Delhi – 110001, India

Person Name (With Designation) :

--

Contact Number :

91-11-23712982 (Continuously Ringing)

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

Canara Bank, F-19, Connaught Circus, New Delhi- 110001, India

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Rupee term loans from banks

0.000

4.742

Other loans and advances

7.883

8.952

Short-term borrowings

 

 

Rupee term loans from banks

861.345

973.097

Total

869.228

986.791

 

Auditors :

 

Name :

D. Ostwal and Associates

Chartered Accountants

Address :

03-304, Dakha Chambers 2068 H.S. Nalwa Street, 38, Karol Bagh, Delhi, India

Income-tax PAN of auditor or auditor's firm :

AABFD7566P

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates:

·         Flowmore Design and Technologies Private Limited

CIN No.: U72300DL2006PTC157170

·         A M Estates Private Limited

CIN No.: U74899DL1989PTC036712

·         Ushamil Associates Private Limited

CIN No.: U74999DL1973PTC006743

·         Flowmore Estates Private Limited

CIN No.: U74899DL1985PTC021587

·         G G Advisory Services Private Limited

CIN No.: U74900DL2009PTC195724

·         Saurabh Advisors Private Limited

CIN No.: U74140DL2009PTC195731

·         R G Freelancers Private Limited

CIN No.: U74140DL2009PTC195730

·         F P L Pumps and Spares Private Limited

CIN No.: U74899DL1992PTC048297

·         Total Engineering Services Private Limited

CIN No.: U74899DL1979PTC009602

·         Flowmore Solar Limited

CIN No.: U74110DL2013PLC253910

·         Fairbanks Morse India Limited

 

 

Subsidiary Company :

Fairbanks Morse India Limited

CIN No.: U29120DL1973PLC006493

 

 

CAPITAL STRUCTURE

 

As on 30.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

21000000

Equity Shares

INR 10/- each

INR 210.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

21000000

Equity Shares

INR 10/- each

INR 210.000 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

210.000

201.000

201.000

(b) Reserves and Surplus

1033.431

875.156

776.157

(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)

1243.431

1076.156

977.157

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

7.883

13.694

38.966

(b) Deferred tax liabilities (Net)

0.000

0.000

3.946

(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)

7.883

13.694

42.912

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

983.750

1107.579

974.917

(b) Trade payables

2235.060

1672.710

1218.640

(c) Other current liabilities

266.166

265.737

355.958

(d) Short-term provisions

38.600

26.300

12.590

Total Current Liabilities (4)

3523.576

3072.326

2562.105

 

 

 

 

TOTAL

4774.890

4162.176

3582.174

 

 

 

 

II.    ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

213.232

242.283

289.047

(ii) Intangible Assets

1.396

2.600

6.164

(iii) Tangible assets capital work-in-progress

2.347

2.347

2.721

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

7.924

7.923

7.923

(c) Deferred tax assets (net)

5.238

0.628

0.000

(d) Long-term loans and advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

230.137

255.781

305.855

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

905.862

897.714

869.638

(c) Trade receivables

3077.999

2564.406

1969.593

(d) Cash and bank balances

137.313

125.501

100.975

(e) Short-term loans and advances

239.463

201.071

220.145

(f) Other current assets

184.116

117.703

115.968

Total Current Assets

4544.753

3906.395

3276.319

 

 

 

 

TOTAL

4774.890

4162.176

3582.174

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Revenue from operations

4363.585

3625.999

2938.034

 

Other Income

12.345

6.107

9.760

 

TOTAL

4375.930

3632.106

2947.794

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

2716.852

2225.953

1975.341

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(79.142)

(14.076)

(146.156)

 

Employee benefit expense

215.157

197.791

188.939

 

CSR expenditure

1.813

1.718

0.000

 

Other expenses

1020.335

789.231

565.630

 

TOTAL

3875.015

3200.617

2583.754

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

500.915

431.489

364.040

 

 

 

 

 

Less

FINANCIAL EXPENSES

277.982

252.220

224.829

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

222.933

179.269

139.211

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

46.923

58.596

77.516

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

176.010

120.673

61.695

 

 

 

 

 

Less

TAX

17.735

21.576

(3.662)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

158.275

99.097

65.357

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

7.54

4.93

3.26

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

12.269

27.976

38.573

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

358.692

124.892

220.728

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

257.46

258.14

244.69

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

1.42

1.41

1.49

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

300.27

274.28

225.18

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.55

0.48

0.42

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

2.31

1.75

1.22

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.74

0.75

0.74

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.81

1.07

1.08

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

2.83

2.85

2.62

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.17

0.23

0.30

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.80

1.71

1.62

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

3.63

2.73

2.22

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

3.31

2.38

1.82

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

12.73

9.21

6.69

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.29

1.27

1.28

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.03

0.98

0.94

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.26

0.26

0.27

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

4.78

5.72

5.24

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.29

1.27

1.28

 

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

201.000

201.000

210.000

Reserves & Surplus

776.157

875.156

1033.431

Net worth

977.157

1076.156

1243.431

 

 

 

 

long-term borrowings

38.966

13.694

7.883

Short term borrowings

974.917

1107.579

983.750

Current maturities of long-term debts

38.573

27.976

12.269

Total borrowings

1052.456

1149.249

1003.902

Debt/Equity ratio

1.077

1.068

0.807

 

 

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

2938.034

3625.999

4363.585

 

 

23.416

20.342

 

 

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

2938.034

3625.999

4363.585

Profit

65.357

99.097

158.275

 

2.22%

2.73%

3.63%

 

 

 

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)

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

Yes

35]

Negative Reporting by Auditors in the Annual Report

No

 

NOTE: Registered office of the company has been shifted from 1584/113, Ganesh Pura, Tri Nagar, Delhi – 110035, India to the present address w.e.f. 03.09.2015

 

STATE OF AFFAIRS

 

The business of the company is to manufacture, import, develop, deal in and sell complete range of power diesel and other pumps, agricultural farm machinery, other engineering goods.

 

The highlights of the Company’s performance are as under:-

           

Total Revenue of the company has increased from INR 3632.106 Million to INR 4375.930 Million

Net Profit of the company has increased from INR 99.097 Million to INR 158.275 Million

 

UNSECURED LOAN

 

PARTICULARS

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Short-term borrowings

 

 

Loans and advances from related parties

6.773

5.405

Other loans and advances

115.632

129.077

Total

122.405

134.482

 

 

INDEX OF CHARGES

 

S

No

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Amount

Address

1

G08693335

100042308

ALLAHABAD BANK

14/07/2016

-

2516400.0

PARLIAMENT STREET BRANCH, GROUND FLOOR17, PARLIAMENT STREET NEW DELHI 110001 INDIA

2

G06274708

100034870

Canara Bank

31/05/2016

-

925000.0

BRANCH F-19, CONNAUGHT CIRCUS NEW DELHI 110001 INDIA

3

C81965931

10626630

BANK OF BARODA

17/02/2016

-

3138000.0

3RD FLOOR, BANK OF BARODA BUILDINGSANSAD MARG DELHI 110001 INDIA

4

C70285036

10602863

Canara Bank

30/09/2015

-

2400000.0

F-19, CONNAUGHT CIRCUS NEW DELHI 110001 INDIA

5

C65258816

10593122

UNION BANK OF INDIA

31/08/2015

-

1025000000.0

M-11, IST FLOOR, MIDDLE CIRCLE CONNAUGHT CIRCUS, NEW DELHI 110001 INDIA

6

C54638978

10571386

Canara Bank

24/04/2015

-

1420000000.0

F-19, CONNAUGHT CIRCUS NEW DELHI 110001 INDIA

7

C41481060

10545165

Canara Bank

30/12/2014

-

1725000.0

F-19, CONNAUGHT CIRCUS NEW DELHI 110001 INDIA

8

B95436374

10475401

Canara Bank

23/12/2013

-

40000000.0

F-19, CONNAUGHT CIRCUS NEW DELHI 110001 INDIA

9

B85601532

10450721

Canara Bank

17/09/2013

-

2270000.0

F-19, CONNAUGHT CIRCUS NEW DELHI 110001 INDIA

10

G68591718

10381714

Canara Bank (Lead Bank of Consortium)

09/10/2012

23/11/2017

7000000000.0

F-19, CONNAUGHT CIRCUS NEW DELHI 110001 INDIA

 

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Guarantees

2499.239

2276.417

Other money for which company is contingently liable

330.870

611.609

Total

2830.109

2888.026

 

 

FIXED ASSETS

 

  • Land
  • Building
  • Furniture and Fixture
  • Computer
  • Plant and Machinery

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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

UK Pound

1

INR 79.50

Euro

1

INR 89.71

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

PRA

 

 

Report Prepared by :

JYTK

 

 

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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.
 
 

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