|
|
|
MIRA INFORM REPORT
|
Report No. : |
496187 |
|
Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
GKB HI-TECH LENSES PRIVATE LIMITED (w.e.f. 24.06.1985) |
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|
|
|
Formerly Known
As : |
GOA
OPTOLAB PRIVATE LIMITED |
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|
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Registered
Office : |
50, Tivim Industrial Estate, Mapusa -403507, Goa |
|
Tel. No.: |
91-832-2257371 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.12.2015 |
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|
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Date of
Incorporation : |
14.02.1986 |
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|
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Com. Reg. No.: |
24-000662 |
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|
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|
Capital
Investment / Paid-up Capital : |
INR 218.800 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33201GA1986PTC000662 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG7027J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer and Sales of Opthalmic Lenses. [Registered Activity] |
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|
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No. of Employees
: |
Information denied by the management |
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 5000000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Essilor India Private Limited” and was incorporated in the year 1986. It is engaged as manufacturer and sales of opthalmic lenses. Management has failed to file its financials after 2015 with Registrar of Companies. As per available financials of 2015, the company has achieved decent sales growth of 34% as compared to its previous year but has incurred losses during the year. Rating takes into consideration, the satisfactory financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continue to derive strength from its long and established track record of its business operation and considerable experience of the promoters. However, these rating gets partially offset by non-availability of latest financials and intense competition faced by the company amongst the players. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings with 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 |
EXTERNAL AGENCY RATING
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 13.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management Non-Cooperative (91-832-2257371/72)
LOCATIONS
|
Registered Office : |
50, Tivim Industrial Estate, Mapusa -403507, Goa,
India |
|
Tel. No.: |
91-832-2257371/ 72 |
|
Fax No.: |
91-832-2257236/ 2417559 |
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E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 2017
|
Name : |
Mr. Mahendra Kumar Gupta |
||||||||||||||||||||||||||||||||||||||||||||
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Designation : |
Wholetime Director |
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Address : |
785, Shantam Alto Betim Porvorim 403501,
Goa, India |
||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
03.03.1944 |
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Qualification: |
BE (Electrical) |
||||||||||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
03.12.2011 |
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DIN No.: |
00173309 |
||||||||||||||||||||||||||||||||||||||||||||
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PAN No.: |
ACEPG6885F |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Shobit Gupta |
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Designation : |
Wholetime Director |
||||||||||||||||||||||||||||||||||||||||||||
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Address : |
785, Shantam Alto-Betim, Porvorim 403501,
Goa, India |
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Date of Birth/Age : |
19.07.1973 |
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Date of Appointment : |
03.12.2011 |
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DIN No.: |
00173426 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Neeraj Mahendra Kumar Gupta |
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Designation : |
Wholetime Director |
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Address : |
785, Shantam Alto-Betim Porvorim 403501,
Goa, India |
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Date of Birth/Age : |
24.09.1975 |
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Qualification: |
BE (Electrical) |
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Date of Appointment : |
03.12.2011 |
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DIN No.: |
00624638 |
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PAN No.: |
ACEPG6889K |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Shivkumar Janardhanan |
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Designation : |
Director |
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|
Address : |
C-303, 3rd Floor, Cassia Block Brigade Millennium,
J.P. Nagar, 7th Phase, Bangalore -560078, Karnataka, India |
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Date of Birth/Age : |
21.07.1966 |
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Date of Appointment : |
29.05.2012 |
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DIN No.: |
00095649 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mrs. Meera Gupta |
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Designation : |
Director |
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|
Address : |
785, Shantam Alto-Betim, Porvorim- 403501,
Goa, India |
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Date of Birth/Age : |
16.08.1949 |
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Date of Appointment : |
29.05.2012 |
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DIN No.: |
00173520 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Ramachandran Parthasarathy |
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|
Designation : |
Director |
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|
Address : |
B-603, Brigade Residency, No. 51,
Uttarahalli Main Road, Bangalore- 560061, Karnataka, India |
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Date of Birth/Age : |
02.09.1965 |
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Date of Appointment : |
17.06.2014 |
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DIN No.: |
00542483 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Narasimhan Narayanan |
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Designation : |
Director |
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Address : |
15, Leonie Hill Road, #08-03, S239194 Singapore
239194 |
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Date of Birth/Age : |
07.10.1964 |
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Date of Appointment : |
17.06.2014 |
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DIN No.: |
06894045 |
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Other Directorship:
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Name : |
Mr. Hemant Navnitrai Desai |
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|
Designation : |
Additional Director |
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|
Address : |
Tower A-9/C, Viceroypark Thakur Villege, Kandivali
(East), Mumbai -400101, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
22.11.2016 |
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DIN No.: |
07660474 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Niranjan Daga |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 3, 1st Floor, Gomes Building La
Campala Colony, Miramar Tiswadi Panaji- 403001, Goa, India |
|
Date of Appointment : |
18.02.2015 |
|
PAN No.: |
ADHPD3822D |
MAJOR SHAREHOLDERS
AS ON 30.09.2017
|
Names of Shareholders |
|
No. of Shares |
|
Mahendra Kumar Gupta |
|
4027188 |
|
Meera Gupta |
|
3729793 |
|
Shobit Gupta |
|
1016036 |
|
Neeraj Gupta |
|
1016036 |
|
Rachita Gupta |
|
904800 |
|
Kanak Gupta |
|
84816 |
|
Priya Gupta |
|
84816 |
|
Das C E Silva Gupta |
|
7290 |
|
Gopal Shetty |
|
420 |
|
James Varghese |
|
138 |
|
Vijaya R Nayak |
|
696 |
|
Preethi R Nayak |
|
696 |
|
Neetha N Nayak |
|
696 |
|
Satya P Farsaiya |
|
1398 |
|
Raj Farsaiya |
|
1398 |
|
Ravi Gupta |
|
1398 |
|
Usman K S |
|
138 |
|
Rajni Sharma |
|
420 |
|
Madhu Gupta |
|
1680 |
|
Munishwar Dutt |
|
2520 |
|
Romano D’Souza |
|
696 |
|
Charlene Dsouza |
|
696 |
|
Satish Jain |
|
1398 |
|
Antinio Sequeira |
|
138 |
|
Essilor India Private Limited, India |
|
10994701 |
|
Total |
|
21880002 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
49.65 |
|
Promoters- Body corporate |
50.25 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
0.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Sales of Opthalmic Lenses. [Registered Activity] |
||||
|
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|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
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Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
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|
||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountants |
|
Address : |
Kalpataru Heritage, 1 2 7 M. G Road, Mumbai -400001, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFK7554R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprise having
control over reporting enterprise (AS ON 31.12.2015): |
|
|
|
|
|
Subsidiaries (AS ON
31.12.2015): |
|
|
|
|
|
Fellow Subsidiaries
(AS ON 31.12.2015): |
|
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 10/- each |
INR 300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21880002 |
Equity Shares |
INR 10/- each |
INR 218.800 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2015 |
31.12.2014 |
31.12.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
218.800 |
192.132 |
192.132 |
|
(b) Reserves and Surplus |
1539.805 |
1215.560 |
1167.312 |
|
(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) |
1758.605 |
1407.692 |
1359.444 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.236 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
88.287 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
13.228 |
6.038 |
8.101 |
|
Total Non-current
Liabilities (3) |
13.228 |
6.038 |
96.624 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
717.386 |
996.042 |
922.647 |
|
(b) Trade
payables |
383.165 |
564.768 |
320.556 |
|
(c) Other current
liabilities |
348.967 |
185.042 |
110.772 |
|
(d) Short-term
provisions |
95.617 |
62.428 |
93.452 |
|
Total Current
Liabilities (4) |
1545.135 |
1808.280 |
1447.427 |
|
|
|
|
|
|
TOTAL |
3316.968 |
3222.010 |
2903.495 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
806.664 |
1002.939 |
961.140 |
|
(ii)
Intangible Assets |
0.997 |
7.633 |
11.749 |
|
(iii) Tangible assets
capital work-in-progress |
12.722 |
0.068 |
10.521 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
77.050 |
81.080 |
76.036 |
|
(c) Deferred tax assets (net) |
56.543 |
(78.680) |
0.000 |
|
(d)
Long-term loans and advances |
70.251 |
73.167 |
102.746 |
|
(e) Other Non-current
assets |
0.000 |
1.479 |
18.149 |
|
Total Non-Current
Assets |
1024.227 |
1087.686 |
1180.341 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.180 |
0.180 |
0.131 |
|
(b)
Inventories |
653.129 |
516.260 |
516.513 |
|
(c) Trade
receivables |
1074.054 |
1130.290 |
975.292 |
|
(d) Cash and
bank balances |
94.418 |
139.651 |
111.082 |
|
(e)
Short-term loans and advances |
470.712 |
347.412 |
120.136 |
|
(f) Other
current assets |
0.248 |
0.531 |
0.000 |
|
Total
Current Assets |
2292.741 |
2134.324 |
1723.154 |
|
|
|
|
|
|
TOTAL |
3316.968 |
3222.010 |
2903.495 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2015 |
31.12.2014 |
31.12.2013 |
|
|
SALES |
|
|
|
|
|
Income |
2293.388 |
1711.344 |
NA |
|
|
Other Income |
19.020 |
11.567 |
NA |
|
|
TOTAL |
2312.408 |
1722.911 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1113.781 |
762.643 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(39.752) |
40.331 |
|
|
|
Employee benefit expense |
265.664 |
261.168 |
|
|
|
Other expenses |
420.949 |
372.473 |
|
|
|
Exceptional items |
178.222 |
0.000 |
|
|
|
TOTAL |
1938.864 |
1436.615 |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
373.544 |
286.296 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
102.944 |
166.513 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
270.600 |
119.783 |
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
283.776 |
88.613 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(13.176) |
31.170 |
NA |
|
|
|
|
|
|
|
Less |
TAX |
(7.787) |
(17.077) |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(5.389) |
48.247 |
125.514 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1027.318 |
541.779 |
NA |
|
|
TOTAL EARNINGS |
1027.318 |
541.779 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
811.680 |
287.391 |
268.515 |
|
|
Components and Stores parts |
29.302 |
77.043 |
42.341 |
|
|
Capital Goods |
69.070 |
84.339 |
68.826 |
|
|
TOTAL
IMPORTS |
910.052 |
448.773 |
379.682 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(0.25) |
2.51 |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2015 |
31.12.2014 |
31.12.2013 |
|
Current Maturities of Long term debt |
0.000 |
0.236 |
0.738 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
378.355 |
235.830 |
183.020 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
321.427 |
208.627 |
171.000 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.12.2015 |
31.12.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
170.94 |
241.07 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
2.14 |
1.51 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
125.57 |
270.30 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
0.57 |
0.55 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
0.46 |
0.28 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2015 |
31.12.2014 |
31.12.2013 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.47 |
0.56 |
0.50 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.41 |
0.71 |
0.68 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.88 |
1.28 |
1.06 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.47 |
0.72 |
0.72 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.63 |
1.72 |
NA |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2015 |
31.12.2014 |
31.12.2013 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(0.23) |
2.82 |
NA |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(0.16) |
1.50 |
4.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(0.31) |
3.43 |
9.23 |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2015 |
31.12.2014 |
31.12.2013 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.48 |
1.18 |
1.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.06 |
0.89 |
0.83 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.53 |
0.44 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.28 |
5.19 |
4.81 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.48 |
1.18 |
1.19 |
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 |
31.12.2013 |
31.12.2014 |
31.12.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
192.132 |
192.132 |
218.800 |
|
Reserves & Surplus |
1167.312 |
1215.560 |
1539.805 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1359.444 |
1407.692 |
1758.605 |
|
|
|
|
|
|
Long Term borrowings |
0.236 |
0.000 |
0.000 |
|
Short Term borrowings |
922.647 |
996.042 |
717.386 |
|
Current Maturities of Long term debt |
0.738 |
0.236 |
0.000 |
|
Total
borrowings |
923.621 |
996.278 |
717.386 |
|
Debt/Equity
ratio |
0.679 |
0.708 |
0.408 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2014 |
31.12.2015 |
|
|
INR
In Million |
INR
In Million |
|
Sales
|
1711.344 |
2293.388 |
|
|
|
34.011 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2014 |
31.12.2015 |
|
|
INR
In Million |
INR
In Million |
|
Sales
|
1711.344 |
2293.388 |
|
Profit |
48.247 |
(5.389) |
|
|
2.82% |
(0.23%) |
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 |
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 |
No |
|
26 |
Turnover of firm for last two 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 |
BUSINESS PERFORMANCE: (AS ON 31.12.2015)
The company is
primarily engaged in the business of processing of ophthalmic. The company
intends to focus on developing lens market by developing the distributors’
network and by providing high quality products. The directors are certain that
the above initiatives would enable the Company to increase its share in a
growing ophthalmic industry and make substantial gains in the years to come.
During the year,
Company has achieved a significant growth of about 34% in turnover compared to
last year. Company is making all efforts to keep up this pace of growth in
order to secure its market share. This is evidenced in the attached financials
and relevant schedules for the year 2015.
COMPANY OVERVIEW (AS
ON 31.12.2015)
Subject was incorporated in February, 1986 as Goa Optolab Private Limited having CIN U33201GA1986PTC000662. The Company is primarily engaged in production and marketing of Opthalmic Lenses. In December 2011, the Company became a subsidiary of Essilor India Private Limited. which holds 50.25% stake in the capital of the Company. The Company has two wholly owned subsidiaries namely GKB Hi Tech Middle East FZE and GKB Hi Tech Lenses SA Pty. Limited.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.12.2015 |
As
on 31.12.2014 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from directors |
80.277 |
307.800 |
|
Total |
80.277 |
307.800 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G47019864 |
10549666 |
KOTAK MAHINDRA
BANK LIMITED |
29/10/2014 |
01/06/2017 |
- |
430000000.0 |
27BKC, C 27, G
BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
2 |
C74150665 |
10106476 |
ICICI BANK LIMITED |
07/03/2008 |
15/12/2015 |
- |
120000000.0 |
LANDMARKRACE
COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
3 |
B02622314 |
10085767 |
3I INFOTECH
TRUSTEESHIP SERVICES LIMITED |
01/12/2007 |
29/12/2010 |
- |
90000000.0 |
3RD TO 6TH FLOOR, INTERNATIONAL
INFOTECH PARK,TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHINAVI
MUMBAIMH400703IN |
|
4 |
G10286839 |
10365143 |
CITIBANK N.A. |
12/06/2012 |
- |
12/08/2016 |
350000000.0 |
CITIBANK
N.A.,PRESTIGE MERIDIAN - II, M.G. ROADBANGALOREKA560001IN |
|
5 |
C51948404 |
90077091 |
STATE BANK OF
INDIA |
17/06/1993 |
13/04/2005 |
08/04/2015 |
9500000.0 |
COMMERCIAL
BRANCHPATLO PLAZAPANJIGA403001IN |
|
6 |
C51949196 |
10037129 |
STATE BANK OF
INDIA |
28/12/2006 |
29/12/2010 |
08/04/2015 |
564000000.0 |
COMMERCIAL
BRANCH,STATE BANK LEARNING CENTRE BLDG, PATTO PLAZAPANAJIGA403001IN |
|
7 |
C51949865 |
90077084 |
STATE BANK OF
INDIA |
16/01/1993 |
02/06/2005 |
08/04/2015 |
40200000.0 |
COMMERCIAL
BRANCHPATTO PLAZAPANAJIGAIN |
|
8 |
C20878047 |
10024517 |
ICICI BANK LIMITED |
16/11/2006 |
29/12/2010 |
04/09/2014 |
230000000.0 |
LANDMARKRACE
COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
9 |
C20875266 |
10123818 |
ICICI BANK LIMITED |
29/09/2008 |
29/12/2010 |
04/09/2014 |
70000000.0 |
LANDMARKRACE COURCE
CIRCLEALKAPURIBARODAGJ390015IN |
|
10 |
B67610162 |
10212276 |
YES BANK LIMITED |
15/03/2010 |
29/12/2010 |
17/01/2013 |
180000000.0 |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
FIXED ASSETS:
Tangible assets
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Leasehold improvements
- Office equipment
- Computer equipments
Intangible assets
- Computer software
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 65.02 |
|
|
1 |
INR 90.12 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KVT |
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.