|
|
|
MIRA INFORM REPORT
|
Report No. : |
495501 |
|
Report Date : |
05.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
STESALIT SYSTEMS LIMITED |
|
|
|
|
Registered
Office : |
71, Park Street, Park Plaza (North Block), 71th Floor,
Kolkata - 700016, West Bengal |
|
Tel. No.: |
91-33-22654984 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
07.12.2010 |
|
|
|
|
Com. Reg. No.: |
21-155476 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 63.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31908WB2010PLC155476 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAPCS0996R |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
19AAPCS0996R1Z2 |
|
|
|
|
Legal Form : |
Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacture of Machinery for Processing of Tea and Software
Development and Maintenance Chagres. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 190000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Stesalit Systems Limited was incorporated in the year 2010. It is engaged in manufacturing for processing of Tea and Software development. For the FY 2017, the company has achieved 94.38% growth in its revenue
as compared to previous year revenue and has maintained average profitability
margin of 1.14% during the year under review. The moderate financial profile of the company is marked by low reserve
base as compared to its capital along with average debt coverage indicators. However, rating weakness is partially offset by equity infused by its
promoters. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some caution. |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 DENIED BY
|
Name : |
Mr. Saibal Bishnu |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9830010504 |
|
Date : |
03.03.2018 |
LOCATIONS
|
Registered Office : |
71, Park Street, Park Plaza (North Block), 71th Floor,
Kolkata - 700016, West Bengal, India |
|
|
|
|
Tel. No.: |
91-33-22654984 / 85 / 86 / 87 / 69000185 |
|
Mobile No.: |
91-9830010504 (Mr. Saibal Bishnu) |
|
Fax No.: |
91-33-22495305 / 40081255 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory: |
1C, Tangra 2nd Lane, Kolkata - 700046, West Bengal, India |
|
|
|
|
Corporate
Office: |
Block GP, Salt Lake, Sector - V, Kolkata - 700091, West Bengal, India |
|
Tel. No.: |
91-33-46017640 |
|
Fax No.: |
91-33-40081522 |
|
Location : |
Owned |
|
|
|
|
Hyderabad Office : |
Arya One, 2nd And 3rd Floor 1-8-303/48/13, P.G. Road, Secunderabad – 500003, Telangana, India |
|
Tel. No.: |
91-40-69990259 |
|
|
|
|
Bangalore Office : |
648/A-8 3rd Floor, Binnamangala First Stage, Indiranagar, Bangalore – 560038, Karnataka, India |
|
Tel. No.: |
91-80-48518391 |
|
|
|
|
Bhubaneswar Office : |
Plot No. 242, District Center, Chandrashekharpur – 751016, Bhubaneswar, India |
|
Tel. No.: |
91-674-2747303 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Arun Kumar Khemka |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Basil Heights, 3C, Loudon Street, 8th Floor, Kolkata - 700017, West Bengal, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.08.1940 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
07.12.2010 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AFQPK5135B |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00032526 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Hemant Khemka |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Basil Heights, 3C, Loudon Street, 8th Floor, Kolkata - 700017, West Bengal, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.11.1971 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
MBA Finance |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
07.12.2010 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AFTPK1872N |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00032636 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Surendra Kumar Rajpal |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Prasanna Estate 4A, Nasiruddin Road, Circus Avenue, Kolkata - 700017, West Bengal, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.02.1935 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.11.2013 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
BCSPR5983C |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00300149 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Nilu Kapoor |
|
Designation : |
Company Secretary |
|
Address : |
2 Ram Lochan, Mullick Street, Kolkata – 700073, West Bengal, India |
|
Date of Appointment : |
01.01.2018 |
|
PAN No.: |
BUWPS8737F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Arun Khemka |
|
960000 |
|
Kusum Khemka |
|
640000 |
|
Hemant Khemka |
|
960000 |
|
Gitanjali Khemka |
|
16000 |
|
Arun Kumar Khemka (HUF) |
|
1864000 |
|
Maruna exports Private Limited, India |
|
960000 |
|
Sapphire Traders Private Limited, India |
|
960000 |
|
|
|
|
|
Total |
|
6360000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
69.81 |
|
Promoter - Bodies
corporate |
30.19 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Machinery for Processing of Tea and Software
Development and Maintenance Chagres. (Registered activity) |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Divulged |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Divulged |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
B Chhawchharia and Company Chartered Accountants |
|
Address : |
8A and 8B, Satyam Towers, 3, Alipore Road, Kolkata - 700027, West
Bengal, India |
|
Tel. No.: |
91-33-24791951 |
|
Fax No.: |
91-33-24791952 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFB3201F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
U74110WB2014PTC199467 |
|
|
|
|
Associates : |
U72400WB1998PLC088315
U65100WB1988PTC044250
U65100WB1995PTC071579
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6360000 |
Equity Shares |
INR 10/- each |
INR 63.600 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
63.600 |
49.600 |
49.600 |
|
(b) Reserves & Surplus |
3.816 |
0.482 |
(5.950) |
|
(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) |
67.416 |
50.082 |
43.650 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
155.343 |
170.000 |
0.183 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.576 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
9.532 |
6.142 |
0.000 |
|
Total
Non-current Liabilities (3) |
164.875 |
176.718 |
0.183 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
119.991 |
31.989 |
3.000 |
|
(b) Trade payables |
21.326 |
11.508 |
2.037 |
|
(c) Other current liabilities |
78.726 |
34.153 |
2.146 |
|
(d) Short-term provisions |
8.688 |
2.618 |
0.858 |
|
Total
Current Liabilities (4) |
228.731 |
80.268 |
8.041 |
|
|
|
|
|
|
TOTAL |
461.022 |
307.068 |
51.874 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
12.303 |
5.906 |
4.415 |
|
(ii) Intangible Assets |
33.372 |
44.502 |
6.274 |
|
(iii) Capital work-in-progress |
1.611 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
25.381 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.300 |
0.300 |
0.300 |
|
(c) Deferred tax assets (net) |
1.383 |
0.000 |
2.483 |
|
(d) Long-term Loan and Advances |
6.449 |
19.035 |
0.548 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
80.799 |
69.743 |
14.020 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
31.165 |
27.299 |
14.350 |
|
(c) Trade receivables |
305.534 |
179.437 |
10.865 |
|
(d) Cash and cash equivalents |
1.491 |
3.416 |
5.920 |
|
(e) Short-term loans and
advances |
41.307 |
26.534 |
6.719 |
|
(f) Other current assets |
0.726 |
0.639 |
0.000 |
|
Total
Current Assets |
380.223 |
237.325 |
37.854 |
|
|
|
|
|
|
TOTAL |
461.022 |
307.068 |
51.874 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
293.350 |
150.917 |
32.847 |
|
|
Other Income |
0.811 |
0.507 |
0.561 |
|
|
TOTAL
|
294.161 |
151.424 |
33.408 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
39.061 |
15.580 |
11.999 |
|
|
Purchases of Stock-in-Trade |
16.040 |
6.846 |
3.801 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(9.251) |
0.416 |
(5.936) |
|
|
Employees benefits expense |
84.119 |
40.710 |
2.795 |
|
|
Expenditure on production,
transportation and |
3.299 |
5.361 |
0.000 |
|
|
Other expenses |
108.662 |
49.754 |
11.451 |
|
|
TOTAL |
241.930 |
118.667 |
24.110 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
52.231 |
32.757 |
9.298 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
30.54 |
11.416 |
0.513 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
21.691 |
21.341 |
8.785 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
14.391 |
9.494 |
3.624 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
7.300 |
11.847 |
5.161 |
|
|
|
|
|
|
|
Less |
TAX |
3.966 |
5.359 |
2.053 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
3.334 |
6.488 |
3.108 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
17.939 |
10.247 |
10.050 |
|
|
TOTAL
EARNINGS |
17.939 |
10.247 |
10.050 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Material |
9.005 |
7.266 |
1.762 |
|
|
Finished Good |
0.000 |
6.343 |
0.286 |
|
|
Capital Goods |
4.140 |
0.000 |
0.537 |
|
|
TOTAL
IMPORTS |
13.145 |
13.609 |
2.585 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
0.63 |
1.52 |
0.73 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
37.678 |
1.348 |
0.222 |
|
Net cash flows from (used in) operations |
(52.930) |
(140.748) |
(15.859) |
|
Net cash flows from (used in) operating activities |
(61.352) |
(143.106) |
(15.797) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
380.16 |
433.98 |
120.73 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
0.96 |
0.84 |
3.02 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
141.27 |
187.30 |
47.06 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.68 |
1.20 |
0.65 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.72 |
0.65 |
0.87 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.91 |
0.82 |
0.16 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
4.64 |
4.06 |
0.08 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.39 |
1.60 |
0.18 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.08 |
1.01 |
0.24 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.71 |
2.87 |
18.12 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
1.14 |
4.30 |
9.46 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.72 |
2.11 |
5.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
4.95 |
12.95 |
7.12 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.66 |
2.96 |
4.71 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.53 |
2.62 |
2.92 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.15 |
0.16 |
0.84 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.92 |
4.10 |
0.07 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.66 |
2.96 |
4.71 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
49.600 |
49.600 |
63.600 |
|
Reserves & Surplus |
(5.950) |
0.482 |
3.816 |
|
Net
worth |
43.650 |
50.082 |
67.416 |
|
|
|
|
|
|
Long Term borrowings |
0.183 |
170.000 |
155.343 |
|
Short Term borrowings |
3.000 |
31.989 |
119.991 |
|
Current Maturities of Long term debt |
0.222 |
1.348 |
37.678 |
|
Total
borrowings |
3.405 |
203.337 |
313.012 |
|
Debt/Equity
ratio |
0.078 |
4.060 |
4.643 |
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
|
32.847 |
150.917 |
293.350 |
|
|
|
359.454 |
94.378 |
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
|
32.847 |
150.917 |
293.350 |
|
Profit |
3.108 |
6.488 |
3.334 |
|
|
9.46% |
4.30% |
1.14% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
63.600 |
49.600 |
|
(b) Reserves and Surplus |
|
3.763 |
0.424 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.164 |
0.162 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
67.363 |
50.024 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
155.343 |
169.999 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.576 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
9.532 |
6.142 |
|
Total Non-current
Liabilities (3) |
|
164.875 |
176.717 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
119.991 |
31.989 |
|
(b) Trade
payables |
|
21.327 |
11.508 |
|
(c) Other
current liabilities |
|
78.740 |
34.167 |
|
(d) Short-term
provisions |
|
8.690 |
2.621 |
|
Total Current
Liabilities (4) |
|
228.748 |
80.285 |
|
|
|
|
|
|
TOTAL |
|
461.150 |
307.188 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
12.303 |
5.906 |
|
(ii)
Intangible Assets |
|
33.372 |
44.502 |
|
(iii) Tangible assets
capital work-in-progress |
|
26.992 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
1.383 |
0.000 |
|
(d)
Long-term loans and advances |
|
6.449 |
19.035 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
80.499 |
69.443 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
31.165 |
27.299 |
|
(c) Trade
receivables |
|
305.534 |
179.437 |
|
(d) Cash and
bank balances |
|
1.519 |
3.463 |
|
(e)
Short-term loans and advances |
|
41.310 |
26.886 |
|
(f) Other
current assets |
|
1.123 |
0.660 |
|
Total
Current Assets |
|
380.651 |
237.745 |
|
|
|
|
|
|
TOTAL |
|
461.150 |
307.188 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
293.350 |
150.917 |
|
|
Other Income |
|
0.875 |
0.546 |
|
|
TOTAL |
|
294.225 |
151.463 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
39.061 |
15.580 |
|
|
Purchases of
Stock-in-Trade |
|
16.040 |
6.846 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(9.251) |
0.416 |
|
|
Employee benefit expense |
|
84.119 |
40.710 |
|
|
Expenditure on production, transportation
and Other expenditure pertaining to
exploration and production activities |
|
3.299 |
5.361 |
|
|
Other expenses |
|
108.716 |
49.786 |
|
|
TOTAL |
|
241.984 |
118.699 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
52.241 |
32.764 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
30.540 |
11.416 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
21.701 |
21.348 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
14.391 |
9.494 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
7.310 |
11.854 |
|
|
|
|
|
|
|
Less |
TAX |
|
3.969 |
5.361 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
3.341 |
6.493 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
0.525 |
1.309 |
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 |
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 three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF THE
COMPANY’S AFFAIRS
During the financial year ended 31st March, 2017, the Company recorded a total turnover of INR 294.161 Million as compared to total turnover of INR 151.424 Million in the previous financial year. Profit before finance cost, depreciation and taxation was INR 52.231 Million against INR 32.757 Million in the previous year. After providing for depreciation, interest and tax expenses, the net Profit of the Company stood at INR 3.334 Million as against Profit of INR 6.488 Million in the previous year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand |
75.406 |
15.897 |
|
|
|
|
|
Total |
75.406 |
15.897 |
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G35131010 |
10618228 |
STATE BANK OF BIKANER & JAIPUR |
20/01/2016 |
05/01/2017 |
- |
80000000.0 |
14 Netaji Subhas Road, Kolkata – 700001, West Bengal, India |
FIXED ASSETS
· Plant and Machinery
· Jigs and Fixture
· Vehicle Tracking device
· Testing Equipment
· Furniture and Fixtures
· Air Conditioner
· Office Equipment
· Vehicles
· Computer and Accessories
· Mould and Dies
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 : |
KAM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KJL |
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.