|
|
|
MIRA
INFORM REPORT
|
Report No. : |
495737 |
|
Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
HAWA ENGINEERS LIMITED |
|
|
|
|
Registered
Office : |
Plot No.129, Near Kashiram Textile Mill, Narol Road, Ahmedabad –
382405, Gujarat |
|
Tel. No.: |
91-79-25320781/82/83/86 |
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|
|
|
Country : |
India |
|
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|
Financials (as
on) : |
31.03.2017 |
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|
Date of
Incorporation : |
26.03.1993 |
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|
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|
Com. Reg. No.: |
04-019199 |
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|
Capital
Investment / Paid-up Capital : |
INR 35.264 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29120GJ1993PLC019199 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMH00483A |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AAACH3878G1ZL |
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|
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TIN No.: |
24072501746 |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACH3878G |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing of Industrial valves. [Registered Activity] |
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|
|
|
No. of Employees
: |
79 (Approximately) [AS ON 31.03.2016] |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1993. It is a manufacturer of
gate valves, globe valve, check valve, ball valve, butterfly valve, air
valve, etc. The company’s clients include,
Ultratech Cement, Tata Chemicals, Ambuja Cement, L&T IDPL, Cipla, Sun
Pharma, TNPL, Gujarat State Fertilizers and Chemicals Limited, BGR Energy,
NTPC, BHEL, Tata Steel, SAIL, etc. As per the financial records of 2017, the company has achieved a fair
growth of 16.17% in its revenue as compared to the previous year’s revenue
and has reported an average net profit margin of 1.42%. The satisfactory financial profile of the company is reflected by
adequate net worth base, acceptable debt level and moderate liquidity
position. The company has its share price trading at around INR 62.50 on BSE as
a March 5, 2018 as against the Face Value (FV) of INR 10. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
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
Management Non-Cooperative (Tel. No.: 91-79-25320781 / 82 / 83)
Tel. No.: 91-9925007502 not reachable.
LOCATIONS
|
Registered Office/ Corporate Office : |
Plot No.129, Near Kashiram Textile Mill, Narol Road, Ahmedabad –
382405, Gujarat, India |
|
Tel. No.: |
91-79-25320781/82/83/86 |
|
Fax No.: |
91-79.25320785 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
35000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
307, Behind Chandola Police Chowki, Opposite F. K. Texttile, Ahmedabad
- 380 028, Gujarat, India |
|
Tel. No.: |
91-79-25320781/82/83/86 |
|
Fax No.: |
91-79-25320785 |
|
|
|
|
Regional Offices: |
Located At: ·
Ahmedabad ·
·
Ankleshwar ·
·
·
·
Kolkata ·
Mumbai ·
Pune ·
·
Secunderabad ·
·
Vapi |
|
|
|
|
International Office: |
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Aslam Kagdi |
|
Designation : |
Director |
|
Address : |
7, Prachina Society, Sarkhej Road, Ahmedabad – 380055, Gujarat, India |
|
Date of Appointment : |
01.06.2000 |
|
DIN No.: |
00006879 |
|
|
|
|
Name : |
Mr. Asad Kagdi |
|
Designation : |
Managing Director |
|
Address : |
35,36 Prachina Society Juhapura Sarkhej Road, Ahmedabad –
380055, Gujarat, India |
|
Date of Appointment : |
26.03.1999 |
|
DIN No.: |
00006898 |
|
|
|
|
Name : |
Mr. Mohammedkhan Pathan |
|
Designation : |
Director |
|
Address : |
B-73, New Amber Tower, 8th Floor, Sarkhej Road, Ahmedabad
– 380055, Gujarat, India |
|
Date of Appointment : |
30.04.2004 |
|
DIN No.: |
00006940 |
|
|
|
|
Name : |
Mr. Shad Mdafzal Ranginwala |
|
Designation : |
Director |
|
Address : |
341, Dabaliya Pole Near, Kalupur Tower, Kalupur, Ahmedabad
– 380001, Gujarat, India |
|
Date of Appointment : |
31.01.2008 |
|
DIN No.: |
01989939 |
|
|
|
|
Name : |
Mr. Mahboob Abdul Raheman Shaikh |
|
Designation : |
Director |
|
Address : |
C8A, Shamiyana Society Opposite Teachers' Society,
Vejalpur Road, Vejalpur, Ahmedabad –
380051, Gujarat, India |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
02378611 |
|
|
|
|
Name : |
Mr. Sajid Mehboobbhai Sacha |
|
Designation : |
Casual Vacancy Director |
|
Address : |
2182 Navi Mahulat Panchkunwa, Street No-16, Behind Panchkuwa
Darwaja Kalupur, Ahmedabad – 380001, Gujarat, India |
|
Date of Appointment : |
12.12.2012 |
|
DIN No.: |
03268965 |
|
|
|
|
Name : |
Mr. Anwarahmed Mohammed Javid Daruwala |
|
Designation : |
Director |
|
Address : |
B19 Bage-Nishat Society Opposite Sonal Cinema Vejalpur
Road, Sarkhej, Ahmedabad – 380055, Gujarat, India |
|
Date of Appointment : |
15.02.2013 |
|
DIN No.: |
06487724 |
|
|
|
|
Name : |
Mr. Sabana Amjad Rehmani |
|
Designation : |
Director |
|
Address : |
Flat-505,Moin Apartment, Near Muslim Society, Navrangpura,
Ahmedabad – 380009, Gujarat, India |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
06967822 |
KEY EXECUTIVES
|
Name : |
Bharti Rathi |
|
Designation : |
Company Secretary |
|
Address : |
P-202, Green City,Nirnaya Nagar Near Ram Vadi, Arjun
Ashram Road, Ahmedabad – 382481, Gujarat, India |
|
Date of Appointment : |
02.09.2016 |
|
PAN No.: |
AKCPR5779F |
|
|
|
|
Name : |
Mr. Aslam Kagdi |
|
Designation : |
Chief Financial Officer (KMP) |
|
Address : |
7, Prachina Society, Sarkhej Road, Ahmedabad – 380055, Gujarat, India |
|
Date of Appointment : |
03.07.2014 |
|
PAN No.: |
AGBPK2131K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2017
|
Category of
shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
18,55,110 |
52.61 |
|
|
(B) Public |
16,71,290 |
47.39 |
|
|
Grand Total |
35,26,400 |
100.00 |
|
Statement
showing shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
|
|
|
Individuals/Hindu undivided Family |
18,55,110 |
52.61 |
|
|
Fazlurehman Mohammedmiya Kagdi |
1,03,800 |
2.94 |
|
|
Mohammed Fazlurrehman Kagdi |
1,12,800 |
3.20 |
|
|
Jamilabibi Fazlurrehman Kagdi |
2,09,700 |
5.95 |
|
|
Aslam F Kagdi |
1,78,110 |
5.05 |
|
|
Asad F Kagdi |
1,72,700 |
4.90 |
|
|
Aaminah Mohamed Zakaria Kagdi |
1,39,700 |
3.96 |
|
|
Sajid Sacha |
2,800 |
0.08 |
|
|
Sabera Hawa |
1,100 |
0.03 |
|
|
Safiya Mohammed Kagdi |
91,500 |
2.59 |
|
|
Gulam Husain Keriwala |
200 |
0.01 |
|
|
Kagadi Mohamedilyas Asad |
55,800 |
1.58 |
|
|
Khalik Yahyabhai Hawa |
4,400 |
0.12 |
|
|
Haseeb Yusufbhai Kapadia |
4,000 |
0.11 |
|
|
Mujiba Hawa |
3,900 |
0.11 |
|
|
Ibrahim M Kagdi |
3,400 |
0.10 |
|
|
Ismail Keriwala |
2,500 |
0.07 |
|
|
Fowzia Hawa |
2,500 |
0.07 |
|
|
Humaira Mohammed Kagdi |
24,200 |
0.69 |
|
|
Sufiyan A Payawala |
43,200 |
1.23 |
|
|
Kagdi Sumaiya Aslam |
9,500 |
0.27 |
|
|
Zafar A Hawa |
4,900 |
0.14 |
|
|
B N Pathan |
4,900 |
0.14 |
|
|
Abdullah M Kagdi |
33,400 |
0.95 |
|
|
Aasia A Rangoonwala |
28,000 |
0.79 |
|
|
Tariq A Kusiwala |
27,900 |
0.79 |
|
|
Wasim M Shaikh |
27,900 |
0.79 |
|
|
Sohel Sadik Maniar |
25,300 |
0.72 |
|
|
M N Pathan |
24,300 |
0.69 |
|
|
Tehseen Mohammedasad Kagdi |
1,00,700 |
2.86 |
|
|
Asfak Mrangoonwala |
78,000 |
2.21 |
|
|
Sarah Aslam Kagdi |
1,73,000 |
4.91 |
|
|
M Zakariya Kagdi |
56,200 |
1.59 |
|
|
Siddiqua Aslam Kagdi |
53,300 |
1.51 |
|
|
Zubir A Kagdi |
48,400 |
1.37 |
|
|
Zunnun Hawa |
3,100 |
0.09 |
|
|
Sub Total A1 |
18,55,110 |
52.61 |
|
|
A2) Foreign |
0.00 |
|
|
|
A=A1+A2 |
18,55,110 |
52.61 |
|
Statement
showing shareholding pattern of the Public shareholder
|
Category
& Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR, 1957 As a
% of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
|
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
|
|
|
B3) Non-Institutions |
0.00 |
|
|
|
Individual share capital upto INR 0.200 Million |
10,95,209 |
31.06 |
|
|
Individual share capital in excess of INR 0.200 Million |
4,93,509 |
13.99 |
|
|
Bishma Mohammed Ilyas Kagdi |
1,25,700 |
3.56 |
|
|
Mohammedkasam Abdulkadar Rusnaiwala |
48,624 |
1.38 |
|
|
Rushnaiwala Azhar |
54,200 |
1.54 |
|
|
Shamsuddin Kadri |
48,900 |
1.39 |
|
|
Vijay V Mehta |
60,000 |
1.70 |
|
|
Zaid Asad Kagdi |
48,845 |
1.39 |
|
|
Any Other (specify) |
82,572 |
2.34 |
|
|
Bodies Corporate |
51,946 |
1.47 |
|
|
Clearing Members |
27,187 |
0.77 |
|
|
NRI – Non- Repat |
3,400 |
0.10 |
|
|
NRI – Repat |
39 |
0.00 |
|
|
Sub Total B3 |
16,71,290 |
47.39 |
|
|
B=B1+B2+B3 |
16,71,290 |
47.39 |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Industrial valves. [Registered Activity] |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
79 (Approximately) [AS ON 31.03.2016] |
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Bankers : |
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Facilities : |
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Auditors 1: |
|
|
Name : |
Yusuf C. Mansuri and Compay Chartered Accountants |
|
Address : |
Ahmedabad, Gujarat, India |
|
|
|
|
Auditors 2: |
|
|
Name : |
Nawab Memon and Associates Chartered Accountants |
|
Address : |
4195, Kothi Mohalla, Lal Darwaja, Ahmedabad-380001, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
APPPM1726F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates
Companies : [AS ON 31.03.2016] |
|
CAPITAL STRUCTURE
As On 31.03.2017
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 35.264
Million
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
INR 10/- each |
INR 40.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3526400 |
Equity Shares |
INR 10/- each |
INR 35.264 Million |
|
|
|
|
|
Reconcilation of the
Shares outstanding at the beginning and at the end of the reporting period :
|
Particulars |
INR In Million |
|
Number of shares at the beginning |
3.526 |
|
Number of shares at the end |
3.526 |
|
Amount of Share Capital at the beginning |
35.264 |
|
Amount of Share Capital at the end |
35.264 |
Details of Shareholders
holding more than 5% equity shares :
|
Particulars |
INR In Million |
|
Jameela F. Kagdi (5.95%) |
0.210 |
|
Mohammed Aslam F. Kagdi (5.05%) |
0.177 |
Terms / Rights
attached to Shares :
The Company has only one class of shares referred to as equity shares having a par value of INR 10/- per Share. Each holder of equity shares is entitled to one vote per share.
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 |
35.264 |
35.264 |
35.264 |
|
(b) Reserves &
Surplus |
79.062 |
71.995 |
65.220 |
|
(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) |
114.326 |
107.259 |
100.484 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
26.177 |
17.689 |
1.783 |
|
(b) Deferred tax
liabilities (Net) |
7.795 |
6.870 |
6.809 |
|
(c) Other long term
liabilities |
29.051 |
26.151 |
35.178 |
|
(d) long-term provisions |
6.999 |
6.043 |
5.307 |
|
Total Non-current
Liabilities (3) |
70.022 |
56.753 |
49.077 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
91.707 |
61.204 |
66.336 |
|
(b) Trade payables |
96.972 |
78.617 |
49.643 |
|
(c) Other current
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
7.389 |
4.956 |
8.145 |
|
Total Current Liabilities
(4) |
196.068 |
144.777 |
124.124 |
|
|
|
|
|
|
TOTAL |
380.416 |
308.789 |
273.685 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
80.593 |
68.011 |
65.360 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) 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 |
3.501 |
3.500 |
0.001 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
84.094 |
71.511 |
65.361 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
79.525 |
71.107 |
45.433 |
|
(c) Trade receivables |
95.100 |
95.479 |
84.590 |
|
(d) Cash and cash
equivalents |
63.325 |
35.667 |
38.934 |
|
(e) Short-term loans and
advances |
28.799 |
25.418 |
27.617 |
|
(f) Other current assets |
29.573 |
9.607 |
11.750 |
|
Total Current Assets |
296.322 |
237.278 |
208.324 |
|
|
|
|
|
|
TOTAL |
380.416 |
308.789 |
273.685 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
496.729 |
427.596 |
456.549 |
|
|
Other Income |
2.814 |
3.160 |
2.873 |
|
|
TOTAL |
499.543 |
430.756 |
459.422 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
354.880 |
312.811 |
350.995 |
|
|
Purchases of
Stock-in-Trade |
0.198 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
3.518 |
(1.830) |
(2.090) |
|
|
Employees benefits
expense |
16.347 |
21.691 |
23.206 |
|
|
Other expenses |
91.851 |
70.692 |
61.214 |
|
|
TOTAL |
466.794 |
403.364 |
433.325 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
32.749 |
27.392 |
26.097 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
12.765 |
10.799 |
10.143 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
19.984 |
16.593 |
15.954 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
7.621 |
6.507 |
5.831 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
12.363 |
10.086 |
10.123 |
|
|
|
|
|
|
|
Less |
TAX |
5.295 |
3.311 |
3.286 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
7.068 |
6.775 |
6.837 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.00 |
1.92 |
1.94 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
9.526 |
1.687 |
|
Net cash flow from operating activity |
NA |
6.275 |
(3.403) |
QUARTERLY
RESULTS
|
PARTICULARS |
30.06.2017 1ST
Quarter |
30.09.2017 2nd
Quarter |
31.12.2017 3rd
Quarter |
|
|
Unaudited
|
Unaudited
|
Unaudited
|
|
Net Sales |
142.910 |
134.880 |
130.310 |
|
Total Expenditure |
134.110 |
126.350 |
122.820 |
|
PBIDT (Excl OI) |
8.800 |
8.530 |
7.490 |
|
Other Income |
0.730 |
0.470 |
2.000 |
|
Operating Profit |
9.530 |
9.000 |
9.490 |
|
Interest |
3.360 |
3.250 |
2.890 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
6.170 |
5.750 |
6.600 |
|
Depreciation |
1.880 |
1.900 |
2.170 |
|
Profit Before Tax |
4.290 |
3.850 |
4.430 |
|
Tax |
NA |
NA |
NA |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
4.290 |
3.850 |
4.430 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
4.290 |
3.850 |
4.430 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
69.88 |
81.50 |
67.63 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.22 |
4.48 |
5.40 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
99.68 |
91.73 |
51.62 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.41 |
0.39 |
0.57 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.41 |
0.40 |
0.40 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.58 |
0.53 |
0.46 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.03 |
0.74 |
0.68 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.71 |
1.35 |
1.24 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.70 |
0.63 |
0.65 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.57 |
2.54 |
2.57 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.42 |
1.58 |
1.50 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.86 |
2.19 |
2.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
6.18 |
6.32 |
6.80 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.51 |
1.64 |
1.68 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.11 |
1.15 |
1.31 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.30 |
0.35 |
0.37 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3.34 |
2.24 |
1.93 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.51 |
1.64 |
1.68 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 62.50/- |
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 |
35.264 |
35.264 |
35.264 |
|
Reserves & Surplus |
65.220 |
71.995 |
79.062 |
|
Net worth |
100.484 |
107.259 |
114.326 |
|
|
|
|
|
|
long-term borrowings |
1.783 |
17.689 |
26.177 |
|
Short term borrowings |
66.336 |
61.204 |
91.707 |
|
Total borrowings |
68.119 |
78.893 |
117.884 |
|
Debt/Equity ratio |
0.678 |
0.736 |
1.031 |
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 |
456.549 |
427.596 |
496.729 |
|
|
|
(6.342) |
16.168 |
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 |
456.549 |
427.596 |
496.729 |
|
Profit |
6.837 |
6.775 |
7.068 |
|
|
1.50% |
1.58% |
1.42% |
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 |
No |
|
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 |
|
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
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 |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
From other parties |
|
|
|
Luft Capital Limited |
NA |
2.765 |
|
|
|
|
|
Total |
NA |
2.765 |
CORPORATE INFORMATION:
[AS ON 31.03.2016]
Subject is in business of Manufacturing of Industrial Valves, etc. The Company was incorporated in 1993 and it is situated in Ahmedabad, Gujarat.
OPERATIONAL OVERVIEW:
[AS ON 31.03.2016]
During the Year, the total revenue from operations (gross) of your Company stood at INR 4751.328 million as against INR. 511.033 million for FY 2014-15 showing a decrease of 7.03% One of the reasons for the reduction in turnover is slowdown of economy. However, Earnings before interest, tax, depreciation and amortization (EBITDA) were INR. 25.135 million registering a growth of 7.95% over the EBITDA of INR. 23.136 million in 2014-15. Profit after tax (PAT) for the year was INR. 6.774 million recording a decline of 0.9% over the PAT of INR 6.836 million in 2014-15. The movement of finished products from factory, arrangement of raw materials etc. was satisfactory in comparison to previous financial year. The staff and workers put their sincere effort in the operation of the plant and achieving efficiency in the production level.
During the Year, export realization has decreased from INR 41.322 million to INR 22.411 million and the director feels proud in saying that we have been successfully able to expand their horizon in the International market. However, expenditure in foreign Currency has also increased from INR. 3.112 million to INR. 5.034 million as compared to that of Previous Year (2014-15).
The Directors have taken appropriate remedial action to mitigate the adverse circumstances and are hopeful of better performance and results during the current year.
The Company has taken effective steps to improve its production and sales during the year.
INDEX OF CHARGES:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G44977635 |
90100032 |
Canara Bank |
29/04/2005 |
31/03/2017 |
- |
147500000.0 |
NAVRANGPURA BRANCH, NAVRANGPURA AHMEDABAD GJ 380009IN |
|
2 |
Y10189538 |
90099846 |
THE KARUR VYSYA BANK LTD. |
18/06/2004 |
- |
- |
230000.0 |
ASHRAM BRANCH MOTILAL CENTRE AHMEDABAD GJ IN |
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 31ST DECEMBER 2017
(INR in Million)
|
Sr. No. |
Particulars |
Quarter Ended |
Quarter Ended |
Nine Months Ended |
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
||
|
Unaudited |
Unaudited |
Unaudited |
||
|
Part I |
|
|
|
|
|
1. |
Income from
Operations |
|
|
|
|
|
a)
Net Sales / Income from Operations |
130.312 |
134.875 |
400.302 |
|
|
b)
Other Operating Income |
0.000 |
0.000 |
0.000 |
|
|
Total
Income from Operations (net) |
130.312 |
134.875 |
400.302 |
|
2. |
Expenditure |
|
|
|
|
|
a)
Cost of materials consumed |
89.223 |
104.084 |
304.695 |
|
|
b)
Purchase of stock-in-trade |
0.000 |
0.000 |
0.000 |
|
|
c) Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
1.870 |
(1.451) |
(6.704) |
|
|
d)
Employee benefits expense |
5.591 |
4.465 |
15.585 |
|
|
e)
Depreciation and amortisation expense |
2.167 |
1.900 |
4.875 |
|
|
f) Power and Fuel Charges |
0.000 |
0.000 |
0.000 |
|
|
g)
Other expenses |
26.142 |
19.246 |
61.196 |
|
|
Total Expenses |
124.992 |
128.244 |
379.647 |
|
3. |
Profit/ (Loss) from
Operations before Other Income, Exchange gain/(loss), Finance costs and
Exceptional items |
5.321 |
6.631 |
20.655 |
|
4. |
Other Income |
1.996 |
0.469 |
1.050 |
|
5. |
Profit /(Loss)
from Ordinary activities before finance costs and Exceptional items |
7.317 |
7.100 |
21.706 |
|
6. |
Finance Costs |
2.884 |
3.252 |
9.780 |
|
7. |
Profit / (Loss) from ordinary activities
after Finance costs but before Exceptional items |
4.433 |
3.848 |
11.925 |
|
8. |
Tax expenses |
0.000 |
0.000 |
0.000 |
|
9. |
Net Profit / (Loss) from ordinary
activities after tax |
4.433 |
3.848 |
11.925 |
|
10. |
Extraordinary
items |
0.000 |
0.000 |
0.000 |
|
11. |
Net Profit /
(Loss) for the period |
4.433 |
3.848 |
11.925 |
|
12. |
Paid-up equity share capital (Face Value of Rs. 10 per share) |
35.264 |
35.264 |
35.264 |
|
13. |
Reserve excluding Revaluation reserve |
0.000 |
0.000 |
0.000 |
|
14. |
Earnings Per Share (EPS) before and after extraordinary items (of Rs.
10/- each) a) Basic b) Diluted |
1.26 1.26 |
1.09 1.09 |
3.38 3.38 |
FIXED ASSETS
- Freehold Land
- Buildings
- Plant and Machinery
- Electric Installation
- Furniture and Fittings
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.05 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
JYO |
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.