|
|
|
MIRA INFORM REPORT
|
Report No. : |
495981 |
|
Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
WESTERN DRUGS LIMITED (w.e.f. 17.04.2010) |
|
|
|
|
Formerly Known
As : |
WESTERN DRUGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-271 A, Mewar
Industrial Area, Madri, Udaipur – 313003, Rajasthan |
|
Tel. No.: |
91-294-2490976/ 6052345 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
20.04.1989 |
|
|
|
|
Com. Reg. No.: |
17-004914 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 41.485 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232RJ1989PLC004914 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
1389004066 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW2424P |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
08AAACW2424P1Z1 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturers Bulk Drugs, Niacin (Nicotinic Acid) and Niacinamide
(Nicotinamide). (Registered activity) |
|
|
|
|
No. of Employees
: |
Not Available |
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 2800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
The company was incorporated in the year 1989. It is a producer and
supplier of Niacin (Nicotinic Acid) and Niacinamide (Nicotinamide). As per the financial records of 2017, the company has achieved a favourable
growth of 13.00% in its revenue as compared to the previous year’s revenue
and reported fair net profit margin of 9.69%. The rating takes into consideration the sound financial profile marked
by healthy met worth base along with comfortable debt level and adequate net
worth base along with comfortable debt level and adequate liquidity position. Rating also takes into consideration the company’s satisfactory
Earnings Per Share (EPS) of INR 49.32 as against its Face Value (FV) of INR
10. Business is active. Payment seems to be regular. 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 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.
LOCATIONS
|
Registered Office/ Factory : |
F-271 A, Mewar
Industrial Area, Madri, Udaipur – 313003, Rajasthan, India |
|
|
|
|
Tel. No.: |
91-294-2490976 / 3293915 / 26052346 |
|
Mobile No.: |
91-9414160711 (Mr. Bhagwati) |
|
Fax No.: |
91-294-2490676 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Gala No. 321, 3rd Floor, Tantia - Jogani
Industrial Premises, Co-Operative Society Limited, Sitaram Mills Compound,
J.R. Boricha Marg, Mumbai - 400011, Maharashtra, India |
|
Tel. No.: |
91-22-61232000 |
|
Fax No.: |
91-22-61232030 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Mishri Lal Lodha |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
26-27 Pratap Colony,
Ganesh Nagar, Kalka Mata Road, Udaipur, Rajasthan, India |
||||||||||||||||
|
Date of Birth/Age : |
01.03.1952 |
||||||||||||||||
|
Qualification : |
B. Sc |
||||||||||||||||
|
Date of Appointment : |
20.04.1989 |
||||||||||||||||
|
PAN No.: |
AAPPL5344M |
||||||||||||||||
|
DIN No.: |
00302054 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Bhagwati Lal Dagliya |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
87, Ganesh Nagar,
Kalkamata Road, Udaipur, Rajasthan, India |
||||||||||||||||
|
Date of Birth/Age : |
11.11.1951 |
||||||||||||||||
|
Qualification : |
M. Com |
||||||||||||||||
|
Date of Appointment : |
20.04.1989 |
||||||||||||||||
|
PAN No.: |
ACLPD6256D |
||||||||||||||||
|
DIN No.: |
00302082 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Mahavir Chunni Lal Ranka |
||||||||||||||||
|
Designation : |
Chairman |
||||||||||||||||
|
Address : |
4, Prena Vidhya
Marg, Udaipur, Rajasthan, India |
||||||||||||||||
|
Date of Birth/Age : |
15.06.1954 |
||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||
|
Date of Appointment : |
27.09.1991 |
||||||||||||||||
|
PAN No.: |
AAAPR6894D |
||||||||||||||||
|
DIN No.: |
00337553 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Dilip Bakhtwar Ranka |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
2nd, Il Palazzo Little Gibbs Rd, Malbar Hill, Mumbai - 400006, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
25.09.1966 |
||||||||||||||||
|
Qualification : |
BE, MBA Finance |
||||||||||||||||
|
Date of Appointment : |
27.09.1991 |
||||||||||||||||
|
PAN No.: |
ADNPR5318R |
||||||||||||||||
|
DIN No.: |
00337719 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Jayantilal Ranka |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
503/4, Sulsa Apartment, Ridge Road, Malabar Hill, Mumbai - 400006, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
01.04.1949 |
||||||||||||||||
|
Qualification : |
B.COM |
||||||||||||||||
|
Date of Appointment : |
18.04.2016 |
||||||||||||||||
|
DIN No.: |
00361466 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Rajendra Ramnath Harlalka |
||||||||||||||||
|
Designation : |
Independent Director |
||||||||||||||||
|
Address : |
11, Laxmi Bhawan, 58, D Road, Churchgate, Mumbai – 400020,
Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
10.09.1960 |
||||||||||||||||
|
Qualification : |
B. Sc |
||||||||||||||||
|
Date of Appointment : |
15.09.2014 |
||||||||||||||||
|
DIN No.: |
00516594 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Surendra Kumar Ostwal |
||||||||||||||||
|
Designation : |
Independent Director |
||||||||||||||||
|
Address : |
17 Kushal Bagh Road No. 1 Jain Mandir Keshav Nagar, Udaipur – 313001, Rajasthan, India |
||||||||||||||||
|
Date of Birth/Age : |
08.07.1972 |
||||||||||||||||
|
Qualification: |
B. Sc., FCA, ICWA |
||||||||||||||||
|
Date of Appointment : |
15.09.2014 |
||||||||||||||||
|
DIN No.: |
06910789 |
||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Bhagwati Lal Dagliya |
|
176600 |
|
Mishri Lal Lodha |
|
378510 |
|
Bhagwati Devi Lodha |
|
148240 |
|
Maheshwari E. Dora |
|
375260 |
|
Vikram M. Ranka |
|
168750 |
|
Mahavir C. Ranka |
|
65550 |
|
Nikhil M. Ranka |
|
165640 |
|
Hitesh J. Ranka |
|
139750 |
|
Anil J. Ranka |
|
139750 |
|
Dilip B. Ranka |
|
56000 |
|
Manish J. Ranka |
|
139750 |
|
Sanjay J. Ranka |
|
139750 |
|
Riya D. Ranka |
|
143650 |
|
Sulochna B. Ranka |
|
431780 |
|
Bakhtawar C. Ranka |
|
100000 |
|
Usha M. Ranka |
|
642810 |
|
Neena D. Ranka |
|
236570 |
|
Chandresh Dagliya |
|
175215 |
|
Chandra B. Dagliya |
|
174935 |
|
Raj Ranka |
|
150000 |
|
|
|
|
|
Total |
|
4148510 |
Equity Share Break up (Percentage of Total Equity)
As on 15.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided Family
– Indian) |
16.31 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
83.69 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers Bulk Drugs, Niacin (Nicotinic Acid) and Niacinamide
(Nicotinamide). (Registered activity) |
|||||
|
|
|
|||||
|
Products : |
|
|||||
|
|
|
|||||
|
Brand Names : |
Not Available |
|||||
|
|
|
|||||
|
Agencies Held : |
Not Available |
|||||
|
|
|
|||||
|
Exports : |
Not Available |
|||||
|
|
|
|||||
|
Imports : |
Not Available |
|||||
|
|
|
|||||
|
Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Om Prakash S. Chaplot and Company Chartered Accountants |
|
Address : |
1st Floor, 145 Machhala Marga, Opposite Hotel Paras Mahal, Udaipur – 313001, Rajasthan, India |
|
Tel. No.: |
91-294-2420177/ 2414277 |
|
Fax No.: |
91-294-2412985 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFO0980E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary
Company: |
U24232RJ1998PTC015016 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4148510 |
Equity Shares |
INR 10/- each |
INR 41.485
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 |
41.485 |
41.485 |
41.485 |
|
(b) Reserves and Surplus |
941.571 |
799.947 |
732.966 |
|
(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) |
983.056 |
841.432 |
774.451 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
205.903 |
183.964 |
195.670 |
|
(b) Deferred tax liabilities (Net) |
120.878 |
115.831 |
101.082 |
|
(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) |
326.781 |
299.795 |
296.752 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
219.398 |
294.792 |
244.804 |
|
(b) Trade
payables |
234.720 |
261.202 |
108.860 |
|
(c) Other current
liabilities |
33.108 |
93.012 |
55.837 |
|
(d) Short-term
provisions |
53.028 |
24.418 |
24.952 |
|
Total Current
Liabilities (4) |
540.254 |
673.424 |
434.453 |
|
|
|
|
|
|
TOTAL |
1850.091 |
1814.651 |
1505.656 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
658.941 |
642.438 |
647.996 |
|
(ii)
Intangible Assets |
4.160 |
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 |
95.002 |
95.029 |
95.029 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
119.988 |
166.729 |
13.847 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
878.091 |
904.196 |
756.872 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
431.660 |
340.063 |
247.045 |
|
(c) Trade
receivables |
415.996 |
456.346 |
274.642 |
|
(d) Cash and
bank balances |
24.021 |
26.854 |
16.655 |
|
(e)
Short-term loans and advances |
99.007 |
85.775 |
210.302 |
|
(f) Other
current assets |
1.316 |
1.417 |
0.140 |
|
Total
Current Assets |
972.000 |
910.455 |
748.784 |
|
|
|
|
|
|
TOTAL |
1850.091 |
1814.651 |
1505.656 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2110.562 |
1867.681 |
1748.289 |
|
|
Other Income |
55.237 |
40.029 |
30.373 |
|
|
TOTAL |
2165.799 |
1907.710 |
1778.662 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1348.321 |
1435.436 |
1251.050 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
16.122 |
(88.403) |
(44.378) |
|
|
Employee benefit expense |
96.687 |
87.088 |
84.291 |
|
|
Expenditure on production, transportation
and Other expenditure pertaining to exploration
and production activities |
5.246 |
4.447 |
0.000 |
|
|
CSR expenditure |
2.976 |
2.998 |
3.124 |
|
|
Other expenses |
308.936 |
242.674 |
246.302 |
|
|
TOTAL |
1778.288 |
1684.240 |
1540.389 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
387.511 |
223.470 |
238.273 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
39.638 |
44.194 |
30.827 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
347.873 |
179.276 |
207.446 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
37.787 |
36.144 |
29.563 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
310.086 |
143.132 |
177.883 |
|
|
|
|
|
|
|
Less |
TAX |
105.475 |
53.335 |
61.134 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
204.611 |
89.797 |
116.749 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
49.322 |
21.646 |
28.142 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
14.412 |
84.107 |
0.000 |
|
Net cash flows from (used in) operations |
352.108 |
(47.058) |
202.768 |
|
Net cash flows from (used in) operating activities |
251.681 |
(85.645) |
129.249 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
71.94 |
89.18 |
57.34 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
5.07 |
4.09 |
6.37 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
63.54 |
66.42 |
31.76 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.90 |
0.66 |
0.96 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.58 |
0.35 |
0.37 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.41 |
0.52 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.45 |
0.67 |
0.57 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.55 |
0.80 |
0.56 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.67 |
0.76 |
0.84 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
9.78 |
5.06 |
7.73 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
9.69 |
4.81 |
6.68 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
11.06 |
4.95 |
7.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
20.81 |
10.67 |
15.08 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.80 |
1.35 |
1.72 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.00 |
0.85 |
1.15 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.53 |
0.46 |
0.51 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
10.60 |
13.57 |
10.62 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets
/ Total Current Liabilities] |
|
1.80 |
1.35 |
1.72 |
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 |
41.485 |
41.485 |
41.485 |
|
Reserves & Surplus |
732.966 |
799.947 |
941.571 |
|
Net
worth |
774.451 |
841.432 |
983.056 |
|
|
|
|
|
|
Long-term borrowings |
195.670 |
183.964 |
205.903 |
|
Short term borrowings |
244.804 |
294.792 |
219.398 |
|
Current maturities of
long-term debts |
0.000 |
84.107 |
14.412 |
|
Total
borrowings |
440.474 |
562.863 |
439.713 |
|
Debt/Equity
ratio |
0.569 |
0.669 |
0.447 |
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 |
1748.289 |
1867.681 |
2110.562 |
|
|
|
6.829 |
13.004 |
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 |
1748.289 |
1867.681 |
2110.562 |
|
Profit/ (Loss) |
116.749 |
89.797 |
204.611 |
|
|
6.68
% |
4.81
% |
9.69
% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
41.485 |
41.485 |
|
(b) Reserves and Surplus |
|
1010.506 |
840.857 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.007 |
0.004 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1051.991 |
882.342 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
205.903 |
183.965 |
|
(b) Deferred tax liabilities (Net) |
|
149.821 |
130.923 |
|
(c) Other long-term
liabilities |
|
0.350 |
0.350 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
356.074 |
315.238 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
221.322 |
295.573 |
|
(b) Trade
payables |
|
234.512 |
260.609 |
|
(c) Other
current liabilities |
|
37.977 |
97.419 |
|
(d) Short-term
provisions |
|
56.365 |
26.729 |
|
Total Current
Liabilities (4) |
|
550.176 |
680.330 |
|
|
|
|
|
|
TOTAL |
|
1958.248 |
1877.914 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
913.586 |
905.884 |
|
(ii)
Intangible Assets |
|
4.160 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.003 |
0.030 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
34.944 |
30.647 |
|
(e) Other Non-current
assets |
|
19.821 |
19.821 |
|
Total Non-Current
Assets |
|
972.514 |
956.382 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
436.612 |
344.266 |
|
(c) Trade
receivables |
|
416.035 |
456.346 |
|
(d) Cash and
bank balances |
|
24.241 |
27.175 |
|
(e)
Short-term loans and advances |
|
106.298 |
92.173 |
|
(f) Other
current assets |
|
2.548 |
1.572 |
|
Total
Current Assets |
|
985.734 |
921.532 |
|
|
|
|
|
|
TOTAL |
|
1958.248 |
1877.914 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
2252.538 |
1959.926 |
|
|
Other Income |
|
41.454 |
22.626 |
|
|
TOTAL |
|
2293.992 |
1982.552 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1348.321 |
1435.487 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
16.122 |
(88.403) |
|
|
Employee benefit expense |
|
111.178 |
99.658 |
|
|
Expenditure on production, transportation
and Other expenditure pertaining to
exploration and production activities |
|
5.246 |
4.447 |
|
|
CSR expenditure |
|
2.974 |
2.999 |
|
|
Other expenses |
|
367.399 |
279.957 |
|
|
TOTAL |
|
1851.240 |
1734.145 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
442.752 |
248.407 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
39.778 |
44.541 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
402.974 |
203.866 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
51.011 |
49.104 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
351.963 |
154.762 |
|
|
|
|
|
|
|
Less |
TAX |
|
129.777 |
50.965 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
222.186 |
103.797 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
53.558 |
25.020 |
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 |
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 |
NOTE: Registered office of the company has been
shifted from F-271 A, Mewar Industrial Area, Udaipur – 313001, Rajasthan, India
to the present address w.e.f. 01.12.2014
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from others |
0.000 |
96.978 |
|
|
|
|
|
Total |
0.000 |
96.978 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C24306219 |
10523043 |
Citi Bank N.A. |
07/08/2014 |
- |
- |
120000000.0 |
First International Financial Centre,Plot No. C-54&55 G-Block, BKC, Bandra (E)MumbaiMH400051IN |
|
2 |
C24312399 |
90074245 |
Citi Bank N.A. |
23/02/2005 |
07/08/2014 |
- |
435000000.0 |
First International Financial CentrePlot No. C-54&55 G-Block, BKC, Bandra (E)MumbaiMH400051IN |
|
3 |
C24317208 |
90075577 |
Citi Bank N.A. |
30/12/2004 |
07/08/2014 |
- |
315000000.0 |
First International Financial Centre, 9th Floor,Plot No. C-54&55, G-Block, BKC, Bandra (E)MumbaiMH400051IN |
|
4 |
G28442820 |
10318405 |
CITIBANK N. A. |
20/10/2011 |
- |
16/11/2016 |
70000000.0 |
DLF SQUARE BUILDING, M BLOCK,JACARANDA MARG, DLF CITY PHASE-II,GURGAONHR122002IN |
|
5 |
G02072684 |
10321116 |
BANK OF BARODA |
24/10/2011 |
- |
02/04/2016 |
80000000.0 |
PANCHSHEEL MARGMAIN BRANCHUDAIPURRJ313001IN |
|
6 |
B61140091 |
10179257 |
Citi Bank N.A. |
08/10/2009 |
- |
23/10/2012 |
20000000.0 |
BHAGWATI BHAWAN, GOVT. HOSTEL CROSSINGM.I. ROADJAIPURRJ302001IN |
|
7 |
A66850041 |
10046468 |
Export-Import Bank of India |
28/02/2007 |
26/07/2007 |
23/07/2009 |
50000000.0 |
Floor 21, Centre one Building,World Trade Centre, Cuffe ParadeMumbaiMH400005IN |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer 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 64.99 |
|
|
1 |
INR 89.91 |
|
Euro |
1 |
INR 80.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
NYT |
|
|
|
|
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.