|
|
|
MIRA
INFORM REPORT
|
Report No. : |
496298 |
|
Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
VISHVA-VISHAL ENGINEERING LIMITED |
|
|
|
|
Registered
Office : |
31, 3rd Floor, Maker Chamber III, Nariman Point, Mumbai – 400021, Maharashtra |
|
Tel. No.: |
91-22-22831724 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
24.10.1985 |
|
|
|
|
Com. Reg. No.: |
11-035656 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 25.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28920MH1985PLC035656 |
|
|
|
|
IEC No.: |
1193001251 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV1290N |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
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GST No.: |
27AAACV1290N1Z0 |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. [Stopped Trading on BSE due to Penal reasons] |
|
|
|
|
Line of Business
: |
Manufacturing of Refractory Items. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum credit limit |
USD 1400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
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|
Comments : |
Vishva Vishal Engineering Limited was incorporated in the year 1985. It is a manufacturer of Refractory Items. For the financial year 2017, the revenue of the company has increased by 6.39% along with average profile margin of 4.95%. The sound financial profile of the company is marked by adequate networth base along with negligible debt level. The rating takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. However, rating strengths are partially offset by unfavorable gap between trade payables and trade receivables. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. Note: The subject is suspended from BSE due to penal reason. |
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 |
ICRA |
|
Rating |
Fund Based Working Capital = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
08.02.2018 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Fund Based Working Capital = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
01.12.2016 |
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 08.03.2018
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 DECLINED BY
|
Name : |
Mr. Rahul |
|
Designation : |
Sales Department |
|
Contact No.: |
91-22-22831724 |
|
Date : |
06.03.2018 |
[91-22-22816859/ 22873611] Ringing
LOCATIONS
|
Registered Office : |
31, Maker Chambers III, 3rd Floor, Nariman Point, Mumbai –
400021, Maharashtra, India |
|
Tel. No.: |
91-22-22816859/ 22873611/ 22831724 |
|
Fax No.: |
91-22-22873611 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate/ Head Office/ Factory : |
4/5 Industrial Estate, Nandini Road, Bhilai, Durg – 490026,
Chhattisgarh, India |
|
Tel. No.: |
91-788-4088400/ 4088637 |
|
Fax No.: |
91-788-4088439 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Ashish Jain |
|
Designation : |
Director |
|
Address : |
43, Nehru Nagar, Bhilai – 490020, Chhattisgarh, India |
|
Date of Birth/Age : |
27.02.1976 |
|
PAN: |
AFAPJ0441B |
|
Qualification : |
MBA |
|
Date of Appointment : |
27.03.2007 |
|
DIN No.: |
00207048 |
|
|
|
|
Name : |
Mr. Arvind Kumar Jain |
|
Designation : |
Director |
|
Address : |
43, Nehru Nagar, Bhilai – 490020, Chhattisgarh, India |
|
Date of Birth/Age : |
31.10.1946 |
|
Qualification : |
B.E. |
|
PAN: |
AFBPJ4996C |
|
Date of Appointment : |
14.01.1994 |
|
DIN No.: |
00207106 |
|
|
|
|
Name : |
Mr. Rajeev Jain |
|
Designation : |
Director |
|
Address : |
3/14, Nehru Nagar (East), Bhilai-490020, Chhattisgarh, India |
|
Date of Birth/Age : |
23.02.1960 |
|
Qualification : |
IIT |
|
Date of Appointment : |
14.02.1987 |
|
DIN No.: |
00327831 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 29.09.2017
|
Names of Shareholders |
|
No. of Shares |
|
MewarFibre Holdings Limited, India |
|
249125 |
|
Cooltex Holdings Limited, India |
|
98450 |
|
Novel Projects Limited, India |
|
196250 |
|
Bhilai Investments Limited, India |
|
89375 |
|
Sudha Investments Limited, India |
|
135500 |
|
Beco Agriculture & Industries Private Limited,
India |
|
147000 |
|
B.R. Jain (Trustee) on behalf of J.P. Jain Trust,
India |
|
291680 |
|
Bhilai Management Services Private Limited, India |
|
105000 |
|
BEC Impex International Private Limited, India |
|
557750 |
|
Kirtimoya Capital Limited, India |
|
110870 |
|
Surge Services Private Limited, India |
|
147000 |
|
Ashish Industrial & Commercial Enterprises Private Limited, India |
|
186000 |
|
Balka Services Private Limited, India |
|
186000 |
|
|
|
|
|
Total |
|
2500000 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
88.33 |
|
Promoters – Others - Shri B.R. Jain (Trustee) on behalf of J.P. Jain Trust |
11.67 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Refractory Items. [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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||||
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Exports : |
Not Divulged |
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|
||||
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Imports : |
Not Divulged |
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||||
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Terms : |
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||||
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Selling : |
Not Divulged |
||||
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|
||||
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Syndicate Bank Maurya Pictures Complex, G. E. Road,, Bhilai - 490023, Chhattisgarh, India · State Bank of India |
||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Taunk and Srikanth Chartered Accountants |
|
Address : |
11 Commercial Complex Nehru Nagar East, Bhilai, Chhattisgarh,
India |
|
PAN No.: |
AABFN9360K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associate Company : |
Dreams (proprietary concern) |
|
|
|
|
Company controlled
by Directors/relatives are : |
· Bhilai Engg Corporation Limited · BEC Strips Limited · BEC Impex International Private Limited · BEC Projects Limited · Arkas Energy LLP · Arkas Industries Private Limited · Arkas Biocon Private Limited · BEC Infra Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 10/- each |
INR 25.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
25.000 |
25.000 |
25.000 |
|
(b) Reserves & Surplus |
465.756 |
434.960 |
406.425 |
|
(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) |
490.756 |
459.960 |
431.425 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
18.923 |
19.361 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
9.027 |
6.941 |
14.893 |
|
(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) |
27.950 |
26.302 |
14.893 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
44.716 |
68.471 |
62.754 |
|
(b)
Trade payables |
78.929 |
56.558 |
38.702 |
|
(c)
Other current liabilities |
77.535 |
37.619 |
29.830 |
|
(d)
Short-term provisions |
1.771 |
2.106 |
1.775 |
|
Total
Current Liabilities (4) |
202.951 |
164.754 |
133.061 |
|
|
|
|
|
|
TOTAL |
721.657 |
651.016 |
579.379 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
111.939 |
109.183 |
95.437 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
2.864 |
11.803 |
17.681 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
39.311 |
40.121 |
19.025 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
15.929 |
14.070 |
11.261 |
|
(e)
Other Non-current assets |
16.194 |
6.405 |
16.987 |
|
Total
Non-Current Assets |
186.237 |
181.582 |
160.391 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
90.460 |
95.016 |
105.558 |
|
(c)
Trade receivables |
405.744 |
329.389 |
264.316 |
|
(d)
Cash and cash equivalents |
4.856 |
2.463 |
9.040 |
|
(e)
Short-term loans and advances |
33.180 |
41.728 |
39.408 |
|
(f)
Other current assets |
1.180 |
0.838 |
0.666 |
|
Total
Current Assets |
535.420 |
469.434 |
418.988 |
|
|
|
|
|
|
TOTAL |
721.657 |
651.016 |
579.379 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
673.115 |
632.712 |
555.082 |
|
|
|
Other Income |
22.792 |
6.538 |
30.938 |
|
|
|
TOTAL |
695.907 |
639.250 |
586.020 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
470.127 |
451.940 |
415.746 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
7.946 |
8.363 |
(3.773) |
|
|
|
Employees benefits expense |
62.683 |
61.518 |
54.885 |
|
|
|
Other expenses |
74.648 |
56.310 |
60.136 |
|
|
|
TOTAL |
615.404 |
578.131 |
526.994 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
80.503 |
61.119 |
59.026 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
8.408 |
5.766 |
3.530 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
72.095 |
55.353 |
55.496 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
19.062 |
18.337 |
23.405 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
53.033 |
37.016 |
32.091 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
19.686 |
7.248 |
7.296 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
33.347 |
29.768 |
24.795 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
5.286 |
4.629 |
2.836 |
|
|
|
Dividend from JV in Sultanate of Oman |
16.353 |
0.000 |
23.281 |
|
|
TOTAL EARNINGS |
21.639 |
4.629 |
26.117 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
51.048 |
64.748 |
NA |
|
|
TOTAL IMPORTS |
51.048 |
64.748 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
13.34 |
11.91 |
9.00 |
|
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 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
53.033 |
37.016 |
32.091 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
53.033 |
37.016 |
32.091 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
220.02 |
190.02 |
173.80 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.66 |
1.92 |
2.10 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
61.28 |
45.68 |
33.98 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.89 |
0.64 |
0.56 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.70 |
0.51 |
0.52 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.31 |
0.28 |
0.23 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.13 |
0.19 |
0.15 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.41 |
0.36 |
0.31 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.23 |
0.26 |
0.26 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
9.57 |
10.60 |
16.72 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
4.95 |
4.70 |
4.47 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.62 |
4.57 |
4.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
6.80 |
6.47 |
5.75 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.64 |
2.85 |
3.15 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.19 |
2.27 |
2.36 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.68 |
0.71 |
0.74 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.55 |
3.51 |
2.51 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.64 |
2.85 |
3.15 |
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 |
25.000 |
25.000 |
25.000 |
|
Reserves & Surplus |
406.425 |
434.960 |
465.756 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
431.425 |
459.960 |
490.756 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
19.361 |
18.923 |
|
Short term borrowings |
62.754 |
68.471 |
44.716 |
|
Total
borrowings |
62.754 |
87.832 |
63.639 |
|
Debt/Equity
ratio |
0.145 |
0.191 |
0.130 |
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 |
555.082 |
632.712 |
673.115 |
|
|
|
13.985 |
6.386 |
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 |
555.082 |
632.712 |
673.115 |
|
Profit |
24.795 |
29.768 |
33.347 |
|
|
4.47% |
4.70% |
4.95% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last 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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C66284399 |
10595821 |
SYNDICATE BANK |
31/07/2015 |
- |
- |
105000000.0 |
G.E. ROADBHILAICT490023IN |
|
2 |
G31781685 |
90215418 |
STATE BANK OF INDIA |
29/11/1994 |
06/01/2003 |
02/12/2016 |
64000000.0 |
COMMERCIAL BRANCHSECTOR 1BHILAIMPIN |
|
3 |
C69180636 |
10336415 |
SYNDICATE BANK |
24/12/2011 |
- |
31/10/2015 |
26600000.0 |
MAURYA PICTURES COMPLEX,G. E. ROAD,BHILAICT490023IN |
|
4 |
C69179620 |
10129498 |
SYNDICATE BANK |
07/11/2008 |
- |
31/10/2015 |
40000000.0 |
MAURYA CINEMA COMPLEXG.E.ROADBHILAICT490023IN |
|
5 |
C69181022 |
10098433 |
SYNDICATE BANK |
10/04/2008 |
09/01/2012 |
31/10/2015 |
93000000.0 |
MAURYA PICTURES COMPLEX,G. E. ROAD,BHILAICT490023IN |
OPERATIONAL
REVIEW AND THE STATE OF COMPANY’S AFFAIRS:
In the year, the company has performed well and has achieved total revenue of INR 695.907 Million as against INR 639.250 Million during the previous year and the net profit of the company before tax is at INR 53.033 Million as compare to INR 37.016 Million in the previous year which is quite imposing. Profit after tax is INR 33.347 Million as compare to INR 29.768 Million in the previous year.
SEGMENT REPORTING
The company was operating two divisions i) Refractories ii) Wind Power Generation 1.25 MW. In the year 2015-16 the company has disposed off its Wind Power Generation unit and at present only Refractory manufacturing unit is in operation.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
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 64.96 |
|
UK Pound |
1 |
INR 90.34 |
|
Euro |
1 |
INR 80.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
RUP |
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.