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|
|
MIRA
INFORM REPORT
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Report No. : |
495758 |
|
Report Date : |
09.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
ARCVAC FORGE CAST PRIVATE LIMITED (w.e.f. 18.12.2015) |
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|
|
|
Formerly Known
As : |
ARCVAC FORGE CAST LIMITED (w.e.f. 27.02.2007) ARCVAC
FORGE CAST PRIVATE LIMITED INDVAC
METALS AND FORGE PRIVATE LIMITED |
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|
|
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Registered
Office : |
N.H. 2, Panchghara, Hooghly–712306, West Bengal |
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Tel. No.: |
91-33-26598000/ 26002101 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
11.07.2003 |
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Com. Reg. No.: |
21-096561 |
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Capital
Investment / Paid-up Capital : |
INR 50.067 Million |
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|
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CIN No.: [Company Identification
No.] |
U27109WB2003PTC096561 |
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IEC No.: |
0205018211 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECA8396E |
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|
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TIN No.: |
19433954075 |
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GST No.: |
19AAECA8396E1ZC |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Steel Ingots and
Forgings. [Registered Activity] |
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|
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow and Delayed |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2003. The company is engaged in manufacturing
and selling of ingots ad steel forging. As per the financial records of 2017, the company has reported a
decline in its revenue as compared to the previous year and has incurred operational
losses. The company possesses healthy financial position marked by adequate
net worth base. However, rating is considered on account of delays in debt servicing
due to stressed liquidity position of the company. Business is active. Payment seems to be slow and delayed. In view of aforesaid, the company can be considered for business dealings
on safe and secured 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 |
CARE |
|
Rating |
Long Term Loans = D |
|
Rating Explanation |
Lowest-credit-quality and very low prospects of recovery |
|
Date |
20.02.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Loans = D |
|
Rating Explanation |
Lowest-credit-quality and very low prospects of recovery |
|
Date |
20.02.2017 |
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 09.03.2018
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. Jaydeep Chatterjee |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-33-26002101 |
|
Date : |
07.03.2018 |
LOCATIONS
|
Registered Office/ Factory : |
N.H. 2, Panchghara, Hooghly–712306, West Bengal, India |
|
Tel. No.: |
91-33-26598000/ 26002101 |
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Fax No.: |
91-33-26598002 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Binod Chhajer |
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Designation : |
Director |
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Address : |
1-S, Mani Pushpak, 13, Chapel Road Hastings, Kolkata – 700022, West Bengal, India |
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Date of Birth/Age : |
23.01.1961 |
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QUALIFICATION : |
B.Com |
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Date of Appointment : |
11.07.2003 |
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PAN No.: |
ACKPC0494J |
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DIN No.: |
00028959 |
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Name : |
Mr. Raj Kumar Chhajer |
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Designation : |
Director |
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Address : |
Konark Garden, Block-A, 2 Cd 6, Burdwan Road , Kolkata – 700027, West Bengal, India |
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Date of Birth/Age : |
30.06.1955 |
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Qualification : |
B.Com |
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Date of Appointment : |
11.07.2003 |
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PAN No.: |
ACIPC6387J |
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DIN No.: |
00028972 |
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KEY EXECUTIVES
|
Name : |
Mr. Jaydeep Chatterjee |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
3.35 |
|
Promoters – Body Corporate |
96.65 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Steel Ingots and
Forgings. [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 : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank of India Commercial Branch, N. S. Road, Gillander House, 8, Netaji Subhash Road, Kolkata - 700001, West Bengal, India · State Bank of India SSI Branch, Bhowanipore, 39, Shakespeare Sarani, Kolkata - 700017, West Bengal, India |
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Facilities : |
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Auditors : |
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|
Name : |
R L Mundhra and Company Chartered Accountants |
|
Address : |
859/ 745,
Marshal House, 33/1 Netaji Subhas Road, Kolkata – 700001, West Bengal, India |
|
PAN No.: |
AAEFR0104N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives: |
· Vikrant Forge Private Limited [U27106WB1985PTC039776] · Integrated Forge Limited [U27100WB2008PLC131551] · Cider Tracom Private Limited [U51109WB2007PTC116044] · Vikash Vinimay Private Limited [U51109WB2007PTC117178] · Kingfisher Vinimay Private Limited [U51109WB2008PTC125928] · Smithy Private Limited [U27100WB2008PTC131291] ·
Telescope Vinimay Private Limited [U51109WB2007PTC114617] |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5100000 |
Equity Shares |
INR 10/- each |
INR 51.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5006746 |
Equity Shares |
INR 10/- each |
INR 50.067 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 |
50.067 |
50.067 |
50.067 |
|
(b) Reserves and Surplus |
717.019 |
804.754 |
832.177 |
|
(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) |
767.086 |
854.821 |
882.244 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
580.891 |
625.555 |
761.954 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
229.457 |
235.973 |
235.932 |
|
(d) long-term
provisions |
2.328 |
1.919 |
1.710 |
|
Total Non-current
Liabilities (3) |
812.676 |
863.447 |
999.596 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
424.986 |
399.276 |
366.055 |
|
(b) Trade
payables |
406.829 |
353.953 |
488.806 |
|
(c) Other
current liabilities |
284.915 |
200.043 |
160.633 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
1116.730 |
953.272 |
1015.494 |
|
|
|
|
|
|
TOTAL |
2696.492 |
2671.540 |
2897.334 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1471.110 |
1523.625 |
1587.771 |
|
(ii)
Intangible Assets |
0.573 |
0.453 |
0.352 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
42.245 |
51.410 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
93.760 |
45.681 |
4.904 |
|
(d)
Long-term loans and advances |
12.948 |
12.948 |
13.334 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1578.391 |
1624.952 |
1657.771 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
429.632 |
452.002 |
527.369 |
|
(c) Trade
receivables |
476.086 |
386.112 |
470.472 |
|
(d) Cash and
bank balances |
58.411 |
57.763 |
53.430 |
|
(e)
Short-term loans and advances |
153.972 |
150.711 |
188.292 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1118.101 |
1046.588 |
1239.563 |
|
|
|
|
|
|
TOTAL |
2696.492 |
2671.540 |
2897.334 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1202.533 |
1527.567 |
1681.601 |
|
|
Other Income |
22.617 |
41.435 |
42.947 |
|
|
TOTAL |
1225.150 |
1569.002 |
1724.548 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
642.700 |
787.858 |
1006.090 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
8.201 |
50.753 |
(43.739) |
|
|
Employee benefit expense |
84.023 |
78.624 |
77.249 |
|
|
Other expenses |
371.081 |
450.081 |
474.135 |
|
|
TOTAL |
1106.005 |
1367.316 |
1513.735 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
119.145 |
201.686 |
210.813 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
158.980 |
172.859 |
171.482 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(39.835) |
28.827 |
39.331 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
95.977 |
97.027 |
91.020 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(135.812) |
(68.200) |
(51.689) |
|
|
|
|
|
|
|
Less |
TAX |
(48.078) |
(40.777) |
(1.197) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(87.734) |
(27.423) |
(50.492) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1.701 |
21.644 |
38.293 |
|
|
TOTAL EARNINGS |
1.701 |
21.644 |
38.293 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
143.800 |
126.447 |
201.754 |
|
|
Components and spare
parts |
3.989 |
0.590 |
1.677 |
|
|
TOTAL IMPORTS |
147.789 |
127.037 |
203.431 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(17.52) |
(5.48) |
(10.08) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
218.199 |
162.435 |
114.583 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
176.068 |
299.092 |
261.933 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
175.450 |
298.399 |
261.279 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
144.50 |
92.26 |
102.12 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.53 |
3.96 |
3.57 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
231.04 |
163.98 |
177.33 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.28 |
0.45 |
0.40 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.08 |
0.13 |
0.13 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.71 |
0.65 |
0.65 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.60 |
1.39 |
1.41 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.46 |
1.12 |
1.15 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.92 |
1.83 |
1.86 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.75 |
1.17 |
1.23 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(7.30) |
(1.80) |
(3.00) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(3.25) |
(1.03) |
(1.74) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(11.44) |
(3.21) |
(5.72) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.00 |
1.10 |
1.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.62 |
0.62 |
0.70 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.28 |
0.32 |
0.30 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
24.45 |
23.71 |
24.82 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.00 |
1.10 |
1.22 |
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
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
50.067 |
50.067 |
50.067 |
|
Reserves & Surplus |
832.177 |
804.754 |
717.019 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
882.244 |
854.821 |
767.086 |
|
|
|
|
|
|
Long-term borrowings |
761.954 |
625.555 |
580.891 |
|
Short term borrowings |
366.055 |
399.276 |
424.986 |
|
Current maturities of
long-term debts |
114.583 |
162.435 |
218.199 |
|
Total
borrowings |
1242.592 |
1187.266 |
1224.076 |
|
Debt/Equity
ratio |
1.408 |
1.389 |
1.596 |
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 |
1681.601 |
1527.567 |
1202.533 |
|
|
|
(9.160) |
(21.278) |
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 |
1681.601 |
1527.567 |
1202.533 |
|
Profit/ (Loss) |
(50.492) |
(27.423) |
(87.734) |
|
|
(3.00
%) |
(1.80
%) |
(7.30
%) |
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 |
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
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G10754463 |
100024594 |
STATE BANK OF INDIA |
05/05/2016 |
17/08/2016 |
- |
90000000.0 |
COMMERCIAL BRANCH, JEEVANDEEP1,MIDDLETON STREET, JEEVANDEEP BUILDING, 2ND FLOORKOLKATAWB700071IN |
|
2 |
G10753689 |
10534929 |
STATE BANK OF INDIA |
21/11/2014 |
17/08/2016 |
- |
704700000.0 |
COMMERCIAL BRANCH, JEEVANDEEP1,MIDDLETON STREET, JEEVANDEEP BUILDING, 2ND FLOORKOLKATAWB700071IN |
|
3 |
B75146092 |
10425759 |
STATE BANK OF BIKANER & JAIPUR |
30/03/2013 |
- |
- |
117000000.0 |
20-B, PARK STREETKOLKATAWB700016IN |
|
4 |
B73971095 |
10422528 |
STATE BANK OF HYDERABAD |
23/03/2013 |
- |
- |
115800000.0 |
PARK STREET BRANCH, PODDAR POINT (1ST FLOOR),113, PARK STREET,KOLKATAWB700016IN |
|
5 |
C03611712 |
10349436 |
STATE BANK OF INDIA |
30/03/2012 |
31/03/2014 |
- |
875500000.0 |
COMMERCIAL BRANCH, JEEVANDEEP1,MIDDLETON STREET, JEEVANDEEP BUILDING, 2ND FLOORKOLKATAWB700071IN |
|
6 |
A32865123 |
10089228 |
STATE BANK OF INDIA (LEAD BANK) |
07/02/2008 |
- |
- |
1140000000.0 |
MID CORPORATE LOAN ADMINISTRATION, 7TH FLOOR"SAMRIDDHI BHAWAN", E BLOCK, 1, STRAND ROADKOLKATAWB700001IN |
|
7 |
B73226128 |
80022097 |
STATE BANK OF INDIA |
06/01/2006 |
21/03/2013 |
- |
1019400000.0 |
COMMERCIAL BRANCH, N. S. ROAD8, N. S. ROADKOLKATAWB700001IN |
|
8 |
G10754935 |
80022098 |
STATE BANK OF INDIA |
06/01/2006 |
17/08/2016 |
- |
1550100000.0 |
COMMERCIAL BRANCH, JEEVANDEEP1,MIDDLETON STREET, JEEVANDEEP BUILDING, 2ND FLOORKOLKATAWB700071IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
8.535 |
5.053 |
|
Loans repayable on demand from others |
153.136 |
101.200 |
|
|
|
|
|
Total |
161.671 |
106.253 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Guarantees |
59.495 |
4.168 |
|
Other commitments |
165.520 |
165.946. |
BUSINESS OUTLOOK
The
Company's prospects are directly related to the capital goods industries which
remained sluggish with a negative growth in 2016-17. Sales and profit remain
under pressure due to higher competition and low demand in industries to which
company caters its products. This has resulted in lower EBIDTA as compared to
last year.
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 64.92 |
|
UK Pound |
1 |
INR 90.23 |
|
Euro |
1 |
INR 80.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
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.