|
|
|
%20LIMITED%20-%20496010%2008-Mar-2018_files/image002.jpg){kind=small}
%20LIMITED%20-%20496010%2008-Mar-2018_files/image004.jpg)
%20LIMITED%20-%20496010%2008-Mar-2018_files/image006.gif)
MIRA
INFORM REPORT
|
Report No. : |
496010 |
|
Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
GENERAL OPTICS (ASIA) LIMITED |
|
|
|
|
Registered
Office : |
R.S.84/1, Nallavadu Road, Thavalakuppam, Pondicherry – 605007 |
|
Tel. No.: |
91-413-2619001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
08.10.1982 |
|
|
|
|
Com. Reg. No.: |
59-000203 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 13.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33201PY1982PLC000203 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG3012B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Design, Develop, Manufacture, Buy, Sell (including exporting from and
importing into India) Supply and otherwise Deal in Precision Optical
Components. (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 720000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1982 and it
is having good track records. For the financial year 2017, the company has increased in its revenue
from operation as compared to previous year and maintained decent
profitability margin of 13.17%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and very low debt balance sheet. Further, rating also derives strength from its long track records of
business operation and improvement in the revenue as well as profitability
during the year. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low
Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High
Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
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 : |
R.S.84/1, Nallavadu Road, Thavalakuppam, Pondicherry – 605007, India |
|
Tel. No.: |
91-413-2619001 |
|
Fax No.: |
91-413-2618755 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Murali Srinivasagopalan |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Gurukripa, No.5, I Cross, Jayanagar Reddiarpalayam,
Pondicherry, Pondihcerry – 605010, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.06.1953 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.10.1982 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00207907 |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vaidyanathan Ramamurthy |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
226, Panduranga Nagar Bannerghatta Road, Bangalore -
560076,
Karnataka, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.12.1951 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.1987 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00221577 |
||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Shankarlal Abhaya Kumar |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
27, Maylairanganathan Street, T. Nagar, Chennai – 600017, Tamilnadu,
India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.12.1953 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
28.11.2005 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00729827 |
||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Nagalakshmi Murali Venkataraman |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Gurukripa, 5, I Cross, Jayanagar, Reddiarpalayam
Pondicherry – 605010, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.01.1955 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.01.2011 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02316308 |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Narasimhan Jayaraman |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
1, 31st Cross, 4th Main Road, Avvainagar,
Pondicherry-605008, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
06.06.1947 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.08.2008 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02274068 |
||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Arulmozhi Thangam |
|
Designation : |
Company Secretary |
|
Address : |
2-B, Jai Dev Apartment, 16-A Cross, Avvai Nagar, Lawspet,
Puducherry Puducherry – 605008, India |
|
Date of Appointment : |
15.07.1983 |
|
PAN No.: |
ABYPA9426D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
SHAREHOLDING
DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 04.07.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
89.94 |
|
Public – (Individual/ Hindu
Undivided Family – Indian |
10.06 |
|
Total |
100.00 |
%20LIMITED%20-%20496010%2008-Mar-2018_files/image008.gif)
BUSINESS DETAILS
|
Line of Business : |
Design, Develop, Manufacture, Buy, Sell (including exporting from and
importing into India) Supply and otherwise Deal in Precision Optical
Components. (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 : |
· Indian Bank, Ethiraj Salai Branch, Chennai, India · Royal Bank Of Scotland, Harrington Road, Chennai, India · CITI Bank, Rue Bussy, Pondicherry, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Ganesan and Company Chartered Accountant |
|
Address : |
23, Jawaharlal Nehru Street, Pondicherry – 605 001, India |
|
Tel. No.: |
91-413-2336884 / 2332015 / 2338975 |
|
Email : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFG4385N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Others : |
V.P. Finance and Company Sectary |
CAPITAL STRUCTURE
As on 31.03.2017
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 |
|
|
|
|
|
|
1350000 |
Equity Shares |
INR 10/- each |
INR 13.500
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 |
13.500 |
13.500 |
13.500 |
|
(b) Reserves & Surplus |
239.452 |
247.057 |
329.829 |
|
(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) |
252.952 |
260.557 |
343.329 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
15.090 |
23.107 |
27.216 |
|
(b) Deferred tax liabilities
(Net) |
18.910 |
20.890 |
15.455 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
18.470 |
6.422 |
15.536 |
|
Total
Non-current Liabilities (3) |
52.470 |
50.419 |
58.207 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
8.982 |
9.937 |
9.288 |
|
(c) Other current liabilities |
46.173 |
38.079 |
37.467 |
|
(d) Short-term provisions |
1.286 |
12.454 |
10.454 |
|
Total
Current Liabilities (4) |
56.441 |
60.470 |
57.209 |
|
|
|
|
|
|
TOTAL |
361.863 |
371.446 |
458.745 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
177.493 |
193.235 |
277.254 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
2.989 |
3.162 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.002 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.625 |
5.772 |
3.289 |
|
(e) Other Non-current assets |
1.844 |
1.844 |
1.615 |
|
Total
Non-Current Assets |
179.962 |
203.840 |
285.322 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
34.772 |
31.684 |
21.976 |
|
(c) Trade receivables |
27.289 |
22.975 |
51.594 |
|
(d) Cash and cash equivalents |
116.554 |
109.879 |
97.172 |
|
(e) Short-term loans and
advances |
1.550 |
1.090 |
0.987 |
|
(f) Other current assets |
1.736 |
1.978 |
1.694 |
|
Total
Current Assets |
181.901 |
167.606 |
173.423 |
|
|
|
|
|
|
TOTAL |
361.863 |
371.446 |
458.745 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
176.334 |
156.089 |
131.488 |
|
|
Other Income |
8.298 |
10.220 |
10.276 |
|
|
TOTAL
|
184.632 |
166.309 |
141.764 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
34.907 |
29.466 |
20.128 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.360 |
(5.741) |
(2.937) |
|
|
Employees benefits expense |
51.533 |
41.651 |
41.321 |
|
|
Other expenses |
54.223 |
58.466 |
53.654 |
|
|
TOTAL |
141.023 |
123.842 |
112.166 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
43.609 |
42.467 |
29.598 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.425 |
4.208 |
2.830 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
40.184 |
38.259 |
26.768 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
10.541 |
11.869 |
10.556 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
29.643 |
26.390 |
16.212 |
|
|
|
|
|
|
|
Less |
TAX |
6.406 |
9.614 |
4.484 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
23.237 |
16.776 |
11.728 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
116.918 |
116.380 |
114.099 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer from Revaluation
Reserve |
0.787 |
0.000 |
0.000 |
|
|
Interim Dividend |
13.500 |
13.500 |
1.915 |
|
|
Interim Dividend Payable |
0.000 |
0.000 |
6.750 |
|
|
Depreciation adjustment on initial adoption of Schedule II
depreciation rates |
0.000 |
0.000 |
(0.592) |
|
|
Tax on Interim Dividend |
2.748 |
2.738 |
1.374 |
|
|
Total
|
17.035 |
16.238 |
9.447 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
123.120 |
116.918 |
116.380 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
117.989 |
115.288 |
77.382 |
|
|
TOTAL
EARNINGS |
117.989 |
115.288 |
77.382 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
22.180 |
22.401 |
10.995 |
|
|
Consumable and Components |
10.409 |
11.723 |
7.646 |
|
|
Spares |
3.211 |
4.763 |
5.942 |
|
|
Capital Goods |
2.586 |
3.460 |
43.686 |
|
|
TOTAL
IMPORTS |
38.386 |
42.347 |
68.269 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
17.21 |
12.43 |
8.69 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
8.054 |
7.157 |
6.289 |
|
Cash generated from operations |
40.099 |
56.689 |
(3.684) |
|
Net cash flow from operating activity |
32.425 |
50.661 |
(3.179) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
56.49 |
53.72 |
143.22 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
6.46 |
6.79 |
2.55 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
93.92 |
123.09 |
168.43 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.25 |
1.34 |
1.35 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.25 |
0.22 |
0.11 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.22 |
0.24 |
0.20 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.09 |
0.12 |
0.10 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.22 |
0.23 |
0.17 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.70 |
0.75 |
0.82 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
12.73 |
10.09 |
10.46 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
13.18 |
10.75 |
8.92 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
6.42 |
4.52 |
2.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
9.19 |
6.44 |
3.42 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.22 |
2.77 |
3.03 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.61 |
2.25 |
2.65 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.70 |
0.70 |
0.75 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.71 |
2.24 |
2.48 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
3.22 |
2.77 |
3.03 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
13.500 |
13.500 |
13.500 |
|
Reserves & Surplus |
329.829 |
247.057 |
239.452 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
343.329 |
260.557 |
252.952 |
|
|
|
|
|
|
Long Term borrowings |
27.216 |
23.107 |
15.090 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of Long term debt |
6.289 |
7.157 |
8.054 |
|
Total
borrowings |
33.505 |
30.264 |
23.144 |
|
Debt/Equity
ratio |
0.098 |
0.116 |
0.091 |
%20LIMITED%20-%20496010%2008-Mar-2018_files/image010.gif)
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
|
131.488 |
156.089 |
176.334 |
|
|
|
18.710 |
12.970 |
%20LIMITED%20-%20496010%2008-Mar-2018_files/image012.gif)
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
|
131.488 |
156.089 |
176.334 |
|
Profit |
11.728 |
16.776 |
23.237 |
|
|
8.92% |
10.75% |
13.18% |
%20LIMITED%20-%20496010%2008-Mar-2018_files/image014.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL INFORMATION:
NATURE OF INDUSTRY
The members 01 the company may please note that your Company is a 100% EOU and has been in existence from 08.10.1982.
The members of the company may also note that the Company is Ii custom product manufacturer and exports its products to USA. Germany, UK Netherlands. Switzerland, Belgium, France etc.
The Company is also an accr8dited supplier to Department of Space and Defense Research and Development Organization and has been a partner in iii variety of indigenization efforts of the Government of India.
OTHER INFORMATION
The Order book of the Company at the end of the year (as at 31.03.17) is INR 158.800 Million. Orders worth INR 62.100 Million have been mobilized so far in the new fiscal starting 01.04.17. Additional orders worth INR 180.000 Million are under various stages of negollaticn. They plan to execute most of the orders during the year 2017-18.
The member of the company would note that, the Company has been consistently declaring good dividend and maintaining a healthy Earnings per Share.
The company's quality systems are certified under the ISO 9001-2008 series. This assures that the Company continues to maintain adequate controls commensurate with its size and nature of business.
The proposed remuneration is the minimum remuneration payable, as per schedule V of the companies Act 2013, as amended, in case the company's profits are inadequate. The members may also note from the financial performance shown above, that the company has more than adequate profits for payment of the proposed remuneration. The inadequacy of profit arises only when the remuneration paid to all the Whole time directors of the company, is calculated as a percentage of profit, 88 per the applicable provisions of the Companies Act 2013.
The members of the company may please note that there is no default in repayment of debts or debentures or interest payable etc., for a continuous period Of thirty days in the preceding financial year (Financial year ended 31.3.2017).
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
B34956755 |
90006009 |
INDIAN BANK |
13/01/2006 |
23/02/2012 |
- |
210000000.0 |
26, ETHIRAJ SALAICHENNAICHENNAITN600008IN |
|
2 |
Y10366144 |
90258058 |
INDIAN BANK |
17/02/1995 |
- |
- |
20000000.0 |
INDUSTRIAL FINANCE BRANCHEGMORECHENNAITN600003IN |
|
3 |
Y10084565 |
90005395 |
INDIAN BANK |
09/01/1993 |
13/01/2006 |
- |
3500000.0 |
ETHIRAJ SALAI BRANCH26; ETHIRAJ SALAICHENNAITN600008IN |
|
4 |
Y10365784 |
90257698 |
INDIAN BANK |
15/02/1991 |
09/01/1993 |
- |
2500000.0 |
HARBOUR BRANCHRAJAI SAJAMADRASTN600001IN |
|
5 |
Y10367609 |
90259523 |
INDIAN BANK |
15/02/1991 |
09/01/1993 |
- |
1500000.0 |
MISSION STREETPONDICHERRYTN605001IN |
|
6 |
Y10365741 |
90257655 |
INDIAN BANK |
18/06/1990 |
03/11/1990 |
- |
1500000.0 |
HARBOUR BRANCHRAJAI SAJACHENNAITN600001IN |
|
7 |
Y10365730 |
90257644 |
INDIAN BANK |
02/04/1990 |
- |
- |
500000.0 |
HARBOUR BRANCHRAJAJICHENNAITN600001IN |
|
8 |
Y10365585 |
90257499 |
INDIAN BANK |
30/12/1987 |
- |
- |
4000000.0 |
HARBOUR BRANCHRAJAJICHENNAITN600001IN |
|
9 |
Y10368717 |
90260631 |
INDIAN BANK |
06/10/1986 |
06/10/1993 |
- |
1000000.0 |
HARBOUR BRANCHRAJAJI SALAIMADRASTN600001IN |
|
10 |
Y10084434 |
90005264 |
INDIAN BANK |
06/10/1986 |
13/01/2006 |
- |
1000000.0 |
ETHIRAJ SALAI BRANCH26; ETHIRAJ SALAICHENNAITN600008IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Disputed Income Tax demand pending before Appellate Authorized |
2.516 |
2.516 |
|
Disputed VAT Tax – Show cause notice for
reversal of Input Tax Credit against CST Sales |
0.000 |
0.231 |
|
Disputed Excise Duty Demand pending before
CESTAT |
0.894 |
0.894 |
|
Disputed Excise Duty as per show cause
Notices issued by the Central Excise Department |
72.572 |
72.572 |
FIXED ASSETS
- Land
- Building
- Machinery
- Computer
- Plant Electrification
- Fire Fighting Equipment
- Furniture
- Vehcile
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 65.99 |
|
|
1 |
INR 89.90 |
|
Euro |
1 |
INR 80.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
SUJ |
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.