|
|
|
MIRA INFORM REPORT
|
Report No. : |
495669 |
|
Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
CLOTHING CULTURE LIMITED (w.e.f.
27.08.2012) |
|
|
|
|
Formerly known
as : |
CLOTHING CULTURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
BKT House, C/14A, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra |
|
Tel. No.: |
91-22-66665600 / 3800 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
02.07.2012 |
|
|
|
|
Com. Reg. No.: |
11-232825 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 10.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17290MH2012PLC232825 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECC9016B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturer, importer, exporter, trader and dealer of all kinds of cloth, fabric, garments, apparels, textiles, piece goods, etc. (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 : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2012 having satisfactory track
record. It is engaged as manufacturer, importer, exporter, trader and dealer
of all kinds of cloth, fabric, garments, apparels, textiles, piece goods,
etc. Management has not filed its financials for the year 2017 with
Registrar of Companies. For the financial year 2016, the company has achieved decent growth in
its revenue as compared to its previous year along with fair profit margin
during the year. Rating takes into consideration, the satisfactory financial risk
profile marked by adequate net worth base and strong debt protection metrics.
Rating continue to derive strength from its long and established track
record of its business operation backed by its well experienced management
team. However, these rating strengths gets partially offset by highly
competitive nature of the industry with presence of other large players and
unorganized sector marked by profit margins exposed to fluctuations in the input
prices. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings a 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 |
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 06.03.2018
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. Rakesh |
|
Designation : |
Director |
|
Contact No.: |
91-22-66665600 / 3800 |
|
Date : |
05.03.2018 |
LOCATIONS
|
Registered Office : |
BKT House, C/14A, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66665600 / 3800 |
|
Fax No.: |
91-22-66665699 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Rakesh Kumar Garodia |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
4, Piramal Industrial Estate, S.V. Road, Goregaon (West),
mumbai - 400062, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.09.1963 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.10.2015 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAAPG8736D |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00143438 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vijayalaxmi Poddar |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
R:94, 95 F:12, W: P-62A, Mount Unique Dr. Gopalrao
Deshmukh Marg, Cumbalal Hill, Mumbai – 400026, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.12.1960 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||||||||||||||||||||||||
|
Experience : |
56 Years |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.10.2015 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AACPP2353F |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00160484 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Pooja Anirudh Dhoot |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
101, Videocon House 99, Manav Mandir Road, Nepean Sea
Road, Mumbai - 400006, Maharashtra,
India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
31.05.1980 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||||||||||||||||||||||||
|
Experience : |
37 Years |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.07.2013 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AACPP1913F |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00574379 |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vipul Suresh Pithadia |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
264 - B/24, Rikhi Bhuvan Lakhamshi Nappu Road, Matunga,
Mumbai – 400019, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
S.S.C., LTM-Diploma in textile manufacturing, DITM-Diploma in International trade management |
||||||||||||||||||||||||||||||||||||||||
|
Experience : |
40 years |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.11.2017 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07042113 |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Purshottam Nawandhar |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
A 604 Sonam Heights New Golden Nest Phase 15 Bhayander
East, Thane - 401105, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.11.2017 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07980314 |
||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Vipul Pithadia |
|
Designation : |
Sr. Manager (Production Planning) |
|
|
|
|
Name : |
Mr. Naresh Khandawala |
|
Designation : |
General Manager (Production) |
|
Qualification : |
B.Com |
|
Experience : |
53 Years |
|
|
|
|
Name : |
Mr. Saswata Mukherjee |
|
Designation : |
Manager - LFS |
|
Qualification : |
B.Tech.(Textiles), PGD, |
|
Experience : |
40 Years |
|
|
|
|
Name : |
Mr. Pravin Khavare |
|
Designation : |
Production Manager |
|
Qualification : |
DTT, PGAPM |
|
Experience : |
37 Years |
|
|
|
|
Name : |
Mr. Vijaykumar Bhalia |
|
Designation : |
Sr. Manager – Business Development |
|
Qualification : |
HSC, Diploma in Textie Tech, Diploma in Marking Management, DEXIM |
|
Experience : |
41 Years |
|
|
|
|
Name : |
Mr. Harish Nayak |
|
Designation : |
National Manager (Sales) |
|
Qualification : |
B.Com |
|
Experience : |
45 Years |
|
|
|
|
Name : |
Shriniwas Maindarge |
|
Designation : |
Sr. Manager - Design |
|
Qualification : |
B.E. PGD, |
|
Experience : |
37 Years |
|
|
|
|
Name : |
Mr. Shailesh Singh |
|
Designation : |
General Manager (Inst. Sales) |
|
Qualification : |
B.Sc., PGDBM (Marketing) |
|
Experience : |
45 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Vijayalaxmi Poddar |
|
505250 |
|
Pooja Anirudh Dhoot |
|
494745 |
|
Rajiv A Poddar |
|
1 |
|
Khushboo R Poddar |
|
1 |
|
Shyamlata Poddar |
|
1 |
|
Rishabh Poddar |
|
1 |
|
Arvind Poddar |
|
1 |
|
Total |
|
1000000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturer, importer, exporter, trader and dealer of all kinds of cloth, fabric, garments, apparels, textiles, piece goods, etc. (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 : |
|
||||||||||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
K M Garg and Company Chartered Accountants |
|
Address : |
603-604, Unique Tower, Off S V Road, Goregaon (West), Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFK4654J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
L99999MH1961PLC012185
L67120MH1982PLC027394 |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
INR 10/- each |
INR 15.000 Million |
|
3500000 |
Preference Shares |
INR 10/- each |
INR 35.000 Million |
|
|
|
|
INR 50.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves and Surplus |
467.389 |
484.492 |
424.740 |
|
(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) |
477.389 |
494.492 |
434.740 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
5.576 |
4.601 |
1.930 |
|
(c) Other long-term
liabilities |
2.577 |
2.690 |
2.097 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
8.153 |
7.291 |
4.027 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
263.324 |
41.742 |
14.702 |
|
(c) Other
current liabilities |
120.093 |
57.441 |
18.372 |
|
(d) Short-term
provisions |
5.021 |
25.858 |
1.366 |
|
Total Current
Liabilities (4) |
388.438 |
125.041 |
34.440 |
|
|
|
|
|
|
TOTAL |
873.980 |
626.824 |
473.207 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
113.380 |
119.266 |
83.200 |
|
(ii)
Intangible Assets |
0.439 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
102.200 |
102.200 |
102.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
9.520 |
43.512 |
26.099 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
225.539 |
264.978 |
211.499 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.006 |
0.005 |
0.000 |
|
(b)
Inventories |
348.117 |
138.062 |
108.244 |
|
(c) Trade
receivables |
255.123 |
172.508 |
124.450 |
|
(d) Cash and
bank balances |
32.924 |
33.670 |
13.525 |
|
(e)
Short-term loans and advances |
6.912 |
9.572 |
8.572 |
|
(f) Other current
assets |
5.359 |
8.029 |
6.917 |
|
Total
Current Assets |
648.441 |
361.846 |
261.708 |
|
|
|
|
|
|
TOTAL |
873.980 |
626.824 |
473.207 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
775.075 |
648.653 |
1127.944 |
|
|
Other Income |
24.095 |
16.404 |
353.836 |
|
|
TOTAL |
799.170 |
665.057 |
1481.780 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
261.852 |
286.737 |
202.126 |
|
|
Purchases of
Stock-in-Trade |
308.424 |
63.595 |
891.426 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(177.168) |
(31.751) |
45.241 |
|
|
Employee benefit expense |
52.976 |
42.073 |
29.712 |
|
|
CSR expenditure |
0.000 |
0.000 |
0.000 |
|
|
Other expenses |
273.615 |
214.854 |
156.135 |
|
|
TOTAL |
719.699 |
575.508 |
1324.640 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
79.471 |
89.549 |
157.140 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.045 |
0.131 |
0.519 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
79.426 |
89.418 |
156.621 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.515 |
3.190 |
2.067 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
74.911 |
86.228 |
154.554 |
|
|
|
|
|
|
|
Less |
TAX |
21.392 |
26.476 |
26.351 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
53.519 |
59.752 |
128.203 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
97.578 |
103.739 |
88.017 |
|
|
TOTAL EARNINGS |
97.578 |
103.739 |
88.017 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
0.462 |
|
|
Capital Goods |
0.000 |
0.000 |
0.376 |
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
0.837 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
53.52 |
59.75 |
128.20 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
47.172 |
66.899 |
(182.304) |
|
Net cash flows from (used in) operating activities |
(23.724) |
49.923 |
(251.748) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
120.14 |
97.07 |
40.27 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.04 |
3.76 |
9.06 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
168.54 |
43.49 |
4.91 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.23 |
0.65 |
1.45 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.70 |
0.75 |
1.89 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.44 |
0.20 |
0.07 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.81 |
0.25 |
0.08 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.24 |
0.24 |
0.19 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1766.02 |
683.58 |
302.77 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
6.91 |
9.21 |
11.37 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
6.12 |
9.53 |
27.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
11.21 |
12.08 |
29.49 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.67 |
2.89 |
7.60 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.77 |
1.79 |
4.46 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.55 |
0.79 |
0.92 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.67 |
2.89 |
7.60 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
424.740 |
484.492 |
467.389 |
|
Net
worth |
434.740 |
494.492 |
477.389 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1127.944 |
648.653 |
775.075 |
|
|
0.000 |
(42.492) |
19.490 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1127.944 |
648.653 |
775.075 |
|
Profit/ (Loss) |
128.203 |
59.752 |
53.519 |
|
|
11.37
% |
9.21
% |
6.91
% |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 |
OPERATIONS:
During the year the total revenue has increased from INR 648.700 Million to INR 775.100 Million. The Company has earned profit of INR 53.500 Million during the Year. The working and operational parameters of the plant of the Company were quite satisfactory during the year. Labour relations at the plants are cordial and an atmosphere of mutual trust and confidence prevails.
THE STATE OF COMPANY
AFFAIRS:
The Year 2015-16 was challenging year. They witnessed a boost in product style, innovations and new launches of products which were well received in the market. The Company is committed to ensure that the SIN Brand continues to be synonymous with the highest quality standards. In the Company, they are focused on creating excellence right across their textile business.
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Guarantees given by the Company's bankers on behalf of the Company against the Company's Indemnity (Against marging of Fixed Deposit of INR 84,53230) |
9.283 |
9.283 |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Office equipment
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 65.05 |
|
|
1 |
INR 89.69 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Information Gathered
by : |
SLK |
|
|
|
|
Analysis Done by
: |
NSR |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.