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MIRA INFORM REPORT
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Report No. : |
496942 |
|
Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
METROGLOBAL LIMITED (w.e.f. 02.09.2011) |
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Formerly Known
As : |
GLOBAL BOARDS LIMITED |
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Registered
Office : |
101, 1st Floor, “Mangal Disha”, Near Guru Gangeshwar
Temple, 6th Road, Khar (West), Mumbai – 400052, Maharashtra |
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Tel. No.: |
91-79-26468016 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
12.11.1992 |
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Com. Reg. No.: |
11-069527 |
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Capital
Investment / Paid-up Capital : |
INR 163.267 Million |
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CIN No.: [Company Identification
No.] |
L21010MH1992PLC069527 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
(Registered Activity) (Line of business is updated as per latest annual report 2017.) |
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No. of Employees
: |
20 (Approximately) (As per latest annual report there is a decrease in the number of employees over past years and current number employees are 20.) |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 7830000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1992 and it
is having good track records. For the financial year 2017, the company has shown marginal decrease
in its revenue from operations as compared to previous year and reported
average profitability margin of 4.28%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and low debt balance sheet. Further, rating also reflects from vast experience of the promoters in
chemical industry, established track record of business operations and large
clientele in the trading business. However, rating strength is partially offset by risk associated with
trading nature of operations, foreign exchange rate fluctuation risk and
cyclical nature of chemical industry. Trade relations are reported as fair. Business is active. Payment
terms are seems 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 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating=BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
12.04.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating=A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
12.04.2017 |
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 13.03.2017
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 (Tel. No.: 91-79-26468016)
LOCATIONS
|
Registered Office : |
101, 1st Floor, “Mangal Disha”, Near Guru Gangeshwar
Temple, 6th Road, Khar (West), Mumbai – 400052, Maharashtra, India |
|
Tel. No.: |
91-79-26468016 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : (Correct web ID) |
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Administrative / Corporate Office : |
508-509, “Shilp”, C.G. Road, Navarangpura, Ahmedabad – 380 009,
Gujarat, India |
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Tel. No.: |
91-79-26468016 / 26469150 |
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Fax No.: |
91-79-26407838 |
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E-Mail : |
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Accounts Office : |
808-809, Shilp Building, Opposite Girish Cold Drinks, C.G. Road,
Navarangpura, Ahmedabad – 380 009, Gujarat, India |
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Tel. No.: |
91-79-26403212, 26403930 |
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Fax No.: |
91-79-26463805 |
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E-Mail : |
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Factory 1 : |
Plot No: A-472-475, and 489-492, Phase II, GIDC, Vatva, Ahmedabad -
382445, Gujarat, India |
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Factory 2 : |
Plot No: A1-407,and A2-408, Phase II, GIDC, Vatva, Ahmedabad - 382445,
Gujarat, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Gautamkumar Mithalal Jain |
|
Designation : |
Chairman and Managing Director |
|
Address : |
7 Nandi Hill, Near Bhav Nirjar Temple, Opposite Isro, Satellite, Ahmedabad – 380015, Gujarat, India |
|
Date of Appointment : |
14.09.2011 |
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DIN No.: |
00160167 |
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Name : |
Mr. Rahul Gautamkumar Jain |
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Designation : |
Executive Director |
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Address : |
7 Nandi Hill, Near Bhav Nirjar Temple, Opposite Isro, Satellite, Ahmedabad – 380015, Gujarat, India |
|
Date of Appointment : |
14.09.2011 |
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DIN No.: |
01813781 |
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Name : |
Mrs. Krati Rahul Jain |
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Designation : |
Whole-time Director |
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Address : |
7, Nandi Hill, Opposite Isro, Near Bhavnirjar Temple, Satelite Road, Ahmedabad-380015, Gujarat, India |
|
Date of Appointment : |
07.04.2015 |
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DIN No.: |
07150442 |
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Name : |
Mr. Nilesh Rajanikant Desai |
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Designation : |
Independent Director |
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Address : |
1, Manekbaug Society, S. M. Road, Ahmedabad – 380015, Gujarat, India |
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Date of Birth/ Age : |
06.07.1960 |
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Date of Appointment : |
12.11.2011 |
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DIN No.: |
00414747 |
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Name : |
Mr. Sandeep Sarbatmal Bhandari |
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Designation : |
Independent Director |
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Address : |
Sampat Sadan, 19, Alankar Society, B/H Circuit House, Shahibaug, Ahmedabad – 380004, Gujarat, India |
|
Date of Birth/Age : |
19.12.1962 |
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Qualification : |
MBA Finance |
|
Date of Appointment : |
12.11.2011 |
|
DIN No.: |
01379445 |
Notes:
- Date of appointment of the directors has been updated as per the latest government registry records.
- Correct name of Chairman and Managing Director is “Mr. Gautamkumar Mithalal Jain” in the earlier report there was typo error.
KEY EXECUTIVES
|
Name : |
Mr. Nitinkumar
Shantilal Shah |
|
Designation : |
Company Secretary |
|
Address : |
15, Dilipnagar, C.H.S.L, Opposite Santosh Medical Stores, Daxini Society, Maninagar, Ahmedabad – 380008, Gujarat, India |
|
Date of Appointment : |
31.08.2011 |
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PAN No.: |
ASYPS3946B |
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|
Name : |
Mr. Nitinkumar Shantilal Shah |
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Designation : |
Chief Financial Officer |
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Address : |
15, Dilipnagar, C.H.S.L, Opposite Santosh Medical Stores, Daxini Society, Maninagar, Ahmedabad – 380008, Gujarat, India |
|
Date of Appointment : |
27.05.2014 |
|
PAN No.: |
ASYPS3946B |
Notes:
- Designation of the key executive has been updated as per the latest government registry records.
·
As per our previous database records, Ms. Kirti (HR
Department), Mr. Sumit Mehta (Finance Manager), were the key executives of the company,
however, they does not appear in the current government registry records and
the same could not be confirmed with the management as well.
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2017
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as a
% of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter and Promoter
Group |
9683926 |
59.31 |
|
|
(B) Public |
6642816 |
40.69 |
|
|
Grand
Total |
16326742 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as
a % of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
1233677 |
7.56 |
|
|
Gautamkumar Mithalal Jain |
1025413 |
6.28 |
|
|
GAUTAMKUMAR MITHALAL HUF |
32900 |
0.20 |
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|
RAHUL GAUTAMKUMAR JAIN |
74818 |
0.46 |
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BHAVNA GAUTAMKUMAR JAIN |
36546 |
0.22 |
|
|
RITU G. JAIN |
64000 |
0.39 |
|
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Any Other (specify) |
8450249 |
51.76 |
|
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SPRING TRADING AND
INVESTMENT PRIVATE LIMITED |
487666 |
2.99 |
|
|
AMAZE TRADING AND
INVESTMENT PRIVATE LIMITED |
566156 |
3.47 |
|
|
CHARM TRADING AND
INVESTMENT PRIVATE LIMITED |
125416 |
0.77 |
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ANIL DYECHEM IND PRIVATE
LIMITED |
2871176 |
17.59 |
|
|
MAIDEN TRADEFIN PRIVATE
LIMITED |
4399835 |
26.95 |
|
|
Sub Total A1 |
9683926 |
59.31 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
9683926 |
59.31 |
Statement showing
shareholding pattern of the Public shareholder
|
Category &
Name of the Shareholders |
No. of fully
paid up equity shares held |
Shareholding %
calculated as per SCRR, 1957 As a % of |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
468 |
0.00 |
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Financial Institutions/
Banks |
8438 |
0.05 |
|
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Insurance Companies |
6800 |
0.04 |
|
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Any Other (specify) |
1142 |
0.01 |
|
|
Sub Total B1 |
16848 |
0.10 |
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B2) Central Government/
State Government(s)/ President of India |
0 |
0.00 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual share capital
upto INR 0.200 Million |
1485823 |
9.10 |
|
|
Individual share capital
in excess of INR 0.200 Million |
675205 |
4.14 |
|
|
NBFCs registered with RBI |
244 |
0.00 |
|
|
Any Other (specify) |
4464696 |
27.35 |
|
|
NAVKAR SYNTHCHEM PRIVATE
LIMITED |
535512 |
3.28 |
|
|
MEGHA BIOTECH PRIVATE
LIMITED |
2705667 |
16.57 |
|
|
WORSHIP TRADING AND
INVESTMENT PRIVATE LIMITED |
626736 |
3.84 |
|
|
ALANKAR MAHENDRA LODHA |
276000 |
1.69 |
|
|
Sub Total B3 |
6625968 |
40.58 |
|
|
B=B1+B2+B3 |
6642816 |
40.69 |
BUSINESS DETAILS
|
Line of Business : |
(Registered Activity) (Line of business is updated as per latest annual report 2017.) |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
20 (Approximately) (As per latest annual report there is a decrease in the number of employees over past years and current number employees are 20.) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
AMPAC and Associates Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Company
: |
Metrochem Capital Trust Limited |
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|
|
|
Associates
Companies : |
|
|
|
|
|
Relatives of Key
Management Personnel and their Enterprises : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000000 |
Equity Shares |
INR 10/- each |
INR 950.000 Million |
|
25000000 |
Cumulative/Non-Cumulative, Redeemable, Convertible/Non-convertible Preference Shares |
INR 10/- each |
INR 250.000 Million |
|
|
Total
|
|
INR 1200.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16326742 |
Equity Shares |
INR 10/- each |
INR 163.267
Million |
|
|
|
|
|
The Company has only one class of shares referred to as Equity Shares having par value of INR 10/- each.
There are no issue of bonus shares during last five financial years.
Shares issued for consideration other than cash during last five financial years:
11433333 equity shares of INR 10 each issued to shareholders of Metrochem Industries Limited pursuant to scheme of arrangement.
|
PARTICULARS |
As at 31st March, 2017 |
|
Reconciliation
of No. of Shares |
No of shares |
|
Equity
Shares at the beginning of the year |
16326742 |
|
Add:
Issued during the financial year |
-- |
|
Equity
Shares at the end of the year |
16326742 |
|
Details
of Equity Shareholders |
As at 31st March 2017 |
|
|
holding
more than 5% shares : |
No of shares |
% held |
|
Gautam
kumar Mithalal Jain |
1025413 |
7.56 |
|
Maiden
Tradefin Private Limited |
4314019 |
26.13 |
|
Search
Invatrade Private Limited |
-- |
-- |
|
Anil
Dyechem Industries Private Limited |
2871176 |
17.59 |
|
Megha
Biotech Private Limited |
2705667 |
16.57 |
|
|
10916275 |
67.85 |
LISTING DETAILS:
|
Subject Stock
Code : |
BSE : 500159 NSE : GLOBABOARD ISIN : INE085D01033 |
|
Stock Exchange Place : |
The Stock Exchange, Mumbai |
|
Listed Date : |
Not Available |
FINANCIAL DATA
[all figures are
in INR 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 |
163.267 |
163.267 |
163.267 |
|
(b) Reserves & Surplus |
2578.430 |
2428.234 |
2272.634 |
|
(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) |
2741.697 |
2591.501 |
2435.901 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
313.088 |
522.461 |
494.775 |
|
(b) Deferred tax liabilities (Net) |
4.607 |
4.607 |
4.607 |
|
(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) |
317.695 |
527.068 |
499.382 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
412.085 |
114.711 |
184.461 |
|
(b) Trade
payables |
237.927 |
813.199 |
510.620 |
|
(c) Other
current liabilities |
32.015 |
29.203 |
26.500 |
|
(d) Short-term
provisions |
1.221 |
1.190 |
1.563 |
|
Total Current
Liabilities (4) |
683.248 |
958.303 |
723.144 |
|
|
|
|
|
|
TOTAL |
3742.640 |
4076.872 |
3658.427 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
100.300 |
88.600 |
77.662 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
151.731 |
142.309 |
98.189 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
183.501 |
155.436 |
145.851 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
709.620 |
762.989 |
763.829 |
|
(e) Other
Non-current assets |
2.216 |
2.666 |
3.620 |
|
Total Non-Current
Assets |
1147.368 |
1152.000 |
1089.151 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
150.005 |
107.931 |
226.880 |
|
(c) Trade
receivables |
412.659 |
1003.559 |
660.918 |
|
(d) Cash
and cash equivalents |
541.293 |
523.110 |
616.759 |
|
(e)
Short-term loans and advances |
1491.315 |
1290.272 |
1064.719 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2595.272 |
2924.872 |
2569.276 |
|
|
|
|
|
|
TOTAL |
3742.640 |
4076.872 |
3658.427 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
3505.995 |
3580.616 |
3773.312 |
|
|
Other Income |
15.486 |
11.356 |
45.761 |
|
|
TOTAL |
3521.481 |
3591.972 |
3819.073 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
3297.562 |
3207.139 |
3323.460 |
|
|
(Increase)/Decrease in Finished goods, Work In Progress and Stock in Trade |
(29.559) |
130.122 |
80.581 |
|
|
Employees benefits
expense |
11.321 |
11.107 |
11.041 |
|
|
Other expenses |
38.880 |
35.733 |
148.311 |
|
|
TOTAL |
3318.204 |
3384.101 |
3563.393 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
203.277 |
207.871 |
255.680 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
11.826 |
10.173 |
12.748 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
191.451 |
197.698 |
242.932 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.255 |
2.098 |
7.625 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
190.196 |
195.600 |
235.307 |
|
|
|
|
|
|
|
Less |
TAX |
40.000 |
40.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
150.196 |
155.600 |
235.307 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Traded Goods |
217.928 |
298.234 |
0.000 |
|
|
TOTAL IMPORTS |
217.928 |
298.234 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
9.20 |
9.53 |
14.41 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
(8.730) |
94.491 |
129.962 |
|
Net cash flow from operating activity |
(4.402) |
72.892 |
127.782 |
QUARTERLY RESULTS
|
Particulars |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Unaudited |
1st Quarter |
2nd Quarter |
3rd Quarter |
|
Net Sales |
809.040 |
455.060 |
998.120 |
|
Total Expenditure |
790.700 |
408.130 |
955.080 |
|
PBIDT (Excl OI) |
18.340 |
46.930 |
43.040 |
|
Other Income |
77.340 |
0.810 |
14.320 |
|
Operating Profit |
95.680 |
47.740 |
57.360 |
|
Interest |
4.650 |
2.850 |
3.150 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
91.030 |
44.890 |
54.210 |
|
Depreciation |
0.330 |
0.330 |
0.330 |
|
Profit Before Tax |
90.700 |
44.560 |
53.880 |
|
Tax |
NA |
13.400 |
13.000 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
90.700 |
31.160 |
40.880 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
90.700 |
31.160 |
40.880 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
42.96 |
102.30 |
63.93 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
8.50 |
3.57 |
5.71 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
26.34 |
92.55 |
56.08 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.36 |
1.93 |
1.13 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.81 |
0.90 |
1.45 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.27 |
0.36 |
0.33 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.26 |
0.25 |
0.28 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.25 |
0.37 |
0.30 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.09 |
0.09 |
0.07 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
17.19 |
20.43 |
20.06 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
4.28 |
4.35 |
6.24 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.01 |
3.82 |
6.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.48 |
6.00 |
9.66 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.80 |
3.05 |
3.55 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
3.58 |
2.94 |
3.24 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.73 |
0.64 |
0.67 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.44 |
3.90 |
4.16 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.80 |
3.05 |
3.55 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 77.00/- |
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 |
163.267 |
163.267 |
163.267 |
|
Reserves & Surplus |
2272.634 |
2428.234 |
2578.430 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2435.901 |
2591.501 |
2741.697 |
|
|
|
|
|
|
long-term borrowings |
494.775 |
522.461 |
313.088 |
|
Short term borrowings |
184.461 |
114.711 |
412.085 |
|
Total borrowings |
679.236 |
637.172 |
725.173 |
|
Debt/Equity ratio |
0.279 |
0.246 |
0.264 |
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 |
3773.312 |
3580.616 |
3505.995 |
|
|
|
(5.107) |
(2.084) |
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 |
3773.312 |
3580.616 |
3505.995 |
|
Profit/(Loss) |
235.307 |
155.600 |
150.196 |
|
|
6.24% |
4.35% |
4.28% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
163.267 |
163.267 |
|
(b) Reserves &
Surplus |
|
2563.863 |
2434.099 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Minority Interest |
|
29.525 |
23.980 |
|
Total Shareholders’ Funds
(1) + (2) |
|
2756.655 |
2621.346 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
313.088 |
522.461 |
|
(b) Deferred tax
liabilities (Net) |
|
4.607 |
4.607 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
317.695 |
527.068 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
412.085 |
114.711 |
|
(b) Trade payables |
|
237.927 |
813.199 |
|
(c) Other current
liabilities |
|
32.061 |
29.232 |
|
(d) Short-term provisions |
|
1.221 |
1.195 |
|
Total Current Liabilities
(4) |
|
683.294 |
958.337 |
|
|
|
|
|
|
TOTAL |
|
3757.644 |
4106.751 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
100.337 |
88.641 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
151.731 |
142.309 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
173.476 |
145.411 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
733.125 |
799.453 |
|
(e) Other Non-current
assets |
|
2.216 |
2.664 |
|
Total Non-Current Assets |
|
1160.885 |
1178.478 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
150.014 |
107.940 |
|
(c) Trade receivables |
|
412.659 |
1004.150 |
|
(d) Cash and cash
equivalents |
|
541.556 |
522.895 |
|
(e) Short-term loans and
advances |
|
1492.530 |
1293.288 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
2596.759 |
2928.273 |
|
|
|
|
|
|
TOTAL |
|
3757.644 |
4106.751 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
3507.763 |
3582.288 |
|
|
Other Income |
|
15.496 |
11.454 |
|
|
TOTAL |
|
3523.259 |
3593.742 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
|
3297.562 |
3207.139 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(29.559) |
130.122 |
|
|
Employees benefits
expense |
|
11.414 |
11.195 |
|
|
Other expenses |
|
53.822 |
35.806 |
|
|
TOTAL |
|
3333.239 |
3384.262 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
190.020 |
209.480 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
11.826 |
10.173 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
178.194 |
199.307 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.259 |
2.121 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
176.935 |
197.186 |
|
|
|
|
|
|
|
Less |
TAX |
|
41.840 |
40.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
|
135.095 |
157.186 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
8.27 |
9.63 |
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 |
Yes |
|
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 |
CORPORATE INFORMATION
Subject is a public limited company domiciled in India and earlier incorporated under the provisions of Companies Act, 1956 now governed by Companies Act 2013. Its Shares are listed and traded on BSE. Company is in the business of trading of speciality chemicals, dye intermediates, solvents, basic chemicals and mineral ore, textile fabric, plastic granules etc.
BRIEF DESCRIPTION OF
THE COMPANY’S WORKING DURING THE YEAR/STATE OF COMPANY’S AFFAIR:-
The turnover of the company for the various segments was INR 3521.481 Million for the year 2016-17 as against the turnover of INR 3591.972 Million during the year 2015-16.
The Company earned net profit of INR 150.196 Million during the year 2016-17 as against the net profit of INR 155.600 Million during the year 2015-16.
The management of the company is hopeful for the better performance in the coming years.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
OVERALL INDUSTRIAL
VIEW:
Indian Economy
India’s economic growth is estimated to slow to 7.1 percent in the year 2016-17 ending on March 31 compared to 7.6 percent in 2015-16, the first indicator of the impact of the demonetisation drive. The estimates have been reduced in all the sectors, except for agriculture, which has improved due to the positive monsoon season.
Demonetisation had temporarily slowed down economic activities in the third quarter due to cash crunch and expected rebound growth to 7.6-7.8% in 2017-18. The agricultural sector posted a huge jump in growth as it expanded by 4.9% during 2016-17 compared to dismal growth of 0.7% in the 2015-16.
Construction Sector
Increasing investments in residential construction and transport infrastructure will drive growth in India’s construction industry over the forecast period 2016–2020, the average annual growth in real terms is expected to improve from 2.95% to 5.65% during the coming five years. The country’s expanding population and urbanisation will continue to generate a need for infrastructure development. To improve trade competitiveness and cope with the population growth, the government is focusing more on infrastructure development, which is expected to result in regular investments in the maintenance and expansion of road infrastructure in the near future.
Residential construction was the largest market in the Indian construction industry. Construction activity in the residential market will be supported by rapid urbanisation, population growth, and positive developments in regional economic conditions. Government efforts to clear slum areas by 2022 and reduce the country’s housing deficit will also help the market grow.
DYES AND
INTERMEDIATES:
The Dyes and Intermediates industry in India is the largest consumer of its own products. With promising growth trends in the Dyes and Intermediates industry, this internal consumption is also set to rise. The Indian Dyes and Intermediates industry has a diversified manufacturing base that produces world-class products. There is a substantial presence of downstream industries in all segments. India already has a strong presence in the export market in the sub-segments of Dyes and Dyes Intermediates. India exports dyes to Germany, the UK, the US, Switzerland, Spain, Turkey, Singapore and Japan.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loan from Corporate Bodies (The unsecured loan includes loan taken from associate companies amounting to INR 282.300 Million (Previous year INR 465.900 Million) which is expected to be paid within a period of 2-5 years. |
282.259 |
465.878 |
|
Short-term
borrowings |
|
|
|
Loan from Corporate Bodies |
63.888 |
28.318 |
|
Loan from Directors |
32.000 |
0.000 |
|
OD facility of Dutche Bank against pledge of liquid funds |
144.582 |
0.000 |
|
Dropline OD facility of Kotak Bank INR 81.554 Million (P.Y. INR Nil) against mortgage of property of Director |
81.284 |
0.000 |
|
Total |
604.013 |
494.196 |
INDEX
OF CHARGES
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G50572841 |
100116112 |
HDFC BANK LIMITED |
14/06/2017 |
- |
- |
150000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI MAHARASHTRA 400013 INDIA |
|
2 |
G22371512 |
100060337 |
KOTAK MAHINDRA BANK LIMITED |
27/09/2016 |
- |
- |
150000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (EAST), Mumbai MAHARASHTRA 400051 INDIA |
|
3 |
B94443702 |
10399100 |
STATE BANK OF INDIA |
28/12/2012 |
17/12/2013 |
- |
500000000.0 |
SME LAW GARDEN BRANCH, ZODIAC AVENUEOPP. COMMISSIONERS BUNGLOW, AHMEDABAD GUJARAT 380006 INDIA |
|
4 |
B94705902 |
10401271 |
STATE BANK OF INDIA |
28/12/2012 |
17/12/2013 |
- |
500000000.0 |
SME LAW GARDEN BRANCH, ZODIAC AVENUEOPP. COMMISSIONERS BUNGLOW, AHMEDABAD GUJARAT 380006 INDIA |
|
5 |
A11118692 |
90099491 |
STATE BANK OF INDIA |
21/03/2002 |
02/02/2007 |
- |
770000000.0 |
CORPORATE FINANCE BRANCH58, SHRIMALI SOCIETY, NAVARANGPURA, AHMEDABAD GUJARAT 380009 INDIA |
|
6 |
Y10188792 |
90099100 |
STATE BANK OF INDIA |
31/12/1999 |
19/09/2000 |
- |
580000000.0 |
SHRIMALI SOCIETY MITHAKALI AHMEDABAD GUJARAT 380006 INDIA |
|
7 |
Y10192336 |
90102644 |
STATE BANK OF INDIA |
18/02/1998 |
- |
- |
18400000.0 |
SHRIMALI SOCIETY MITHAKALI AHMEDABAD GUJARAT 380006 INDIA |
|
8 |
Y10188392 |
90098700 |
STATE BANK OF INDIA |
21/10/1997 |
21/10/1997 |
- |
355000000.0 |
OVERSEAS BRANCHAHMEDABADGJIN |
|
9 |
Y10187555 |
90097863 |
STATE BANK OF INDIA |
16/03/1994 |
23/04/1998 |
- |
215000000.0 |
OVERSEAS BRANCH AHMEDABAD GUJARAT INDIA |
|
10 |
G07174717 |
10478273 |
KOTAK MAHINDRA BANK LIMITED |
24/01/2014 |
21/01/2015 |
13/06/2016 |
210000000.0 |
27BKC, C 27, G Block Bandra Kurla Complex, Bandra (EAST), Mumbai MAHARASHTRA 400051 INDIA |
UNAUDITED FINANCIAL
RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2017
(INR In Million)
|
Particulars |
Quarter Ended |
Nine Months Ended |
|
|
|
31.12.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
Income from
Operations |
|
|
|
|
Net Sales/Income from Operations |
998.117 |
455.060 |
2260.117 |
|
Other Income |
14.322 |
0.807 |
92.471 |
|
Total Income from
Operations (Net) |
1012.439 |
455.867 |
2352.588 |
|
Expenses |
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
0.000 |
|
Purchases of Stock-in-Trade |
906.492 |
435.496 |
2096.519 |
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
22.005 |
(38.121) |
(16.116) |
|
Employees benefits expense |
2.919 |
2.478 |
7.905 |
|
Depreciation and amortization expense |
0.325 |
0.325 |
0.975 |
|
Finance Costs |
3.150 |
2.852 |
8.550 |
|
Other expenses |
23.668 |
8.273 |
65.609 |
|
Total expenses |
958.559 |
411.303 |
2163.442 |
|
|
|
|
|
|
Profit/ (Loss)
before exceptional Items |
53.880 |
44.564 |
189.146 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
Profit /(Loss)
before tax |
53.880 |
44.564 |
189.146 |
|
Tax Expense |
13.000 |
13.400 |
26.400 |
|
Profit /(Loss)
after tax for the period |
40.880 |
31.164 |
162.746 |
|
Other Comprehensive
Income/-loss (Net of tax) |
|
|
|
|
-Re-measurement of net defined benefit liability (net off tax) |
(0.045) |
(0.057) |
(0.157) |
|
-Equity instruments through other comprehensive income i.e. gain or loss due to valuation of investments at fair value (net off tax) |
5.764 |
1.643 |
14.542 |
|
Total Comprehensive
Income |
46.599 |
32.750 |
177.131 |
|
Paid up equity share capital (Face value of INR 10/- each) |
163.267 |
163.267 |
163.267 |
|
Other Equity excluding revaluation reserve |
|
|
|
|
Earnings per share |
|
|
|
|
-Basic & Diluted EPS |
2.85 |
2.01 |
10.85 |
UNAUDITED FINANCIAL
RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2017
(INR In Million)
|
Particulars |
Quarter Ended |
Half Year Ended |
|
|
|
31.12.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
Segment Revenue |
|
|
|
|
Dyestuffs and Dye Intermediates Mfg. |
0.000 |
0.000 |
0.000 |
|
Infrastructure and Realty |
4.992 |
6.303 |
17.897 |
|
Trading and Finance |
1007.447 |
449.564 |
2334.691 |
|
Total Income |
1012.439 |
455.867 |
2352.588 |
|
|
|
|
|
|
Segment
Results |
|
|
|
|
Profit/(loss) before tax and interest |
|
|
|
|
Dyestuffs and Dye Intermediates Mfg. |
0.000 |
0.000 |
0.000 |
|
Infrastructure and Realty |
4.992 |
6.303 |
17.897 |
|
Trading and Finance |
48.888 |
38.261 |
171.249 |
|
Total |
53.880 |
44.564 |
189.146 |
|
Total profit/(loss)
before tax |
53.880 |
44.564 |
189.146 |
|
|
|
|
|
|
Capital Employed |
|
|
|
|
(Segment Assets-Segment Liabilities) |
|
|
|
|
Dyestuffs and Dye Intermediates Mfg. |
155.306 |
155.306 |
155.306 |
|
Infrastructure and Realty |
424.183 |
445.293 |
424.183 |
|
Trading and Finance |
2339.340 |
2271.631 |
2339.340 |
|
Total |
2918.829 |
2872.230 |
2918.829 |
Notes:
- The above results have been verified by the Audit committee at its meeting held on 12th February, 2018 and taken on record by the Board of Directors at its meeting held on 12th February, 2018.
- The company has received One complaints during the period and resolved the same and pending complaint as on 31st December, 2017 is Nil.
- Segmentwise Report for Dyestuffs and Dye Intermediates Manufacturing, Infrastructure and Reality Segment, Trading and Finance Segment is enclosed.
- The Company adopted Indian Accounting Standard (IND AS) and accordingly these financial results have been prepared in accordance with the recognition and measurement principles had down in the Ind As 34 Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder. The date of transaction to Ind As is 1 April, 2017. The Company will provide a reconciliation of its equity for the previous year ended 31st March, 2017 at the time of submitting the audited Financial Statements for the year ended 31st March. 2018. The Results have been prepared in accordance with Regulation 33 of SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015 read with SEBI circular dated 5th July, 2016.
- The reconciliation of net profit reported for the quarter ended 31-12-2017 in accordance with Indian GAAP to total comprehensive income in accordance with Ind AS is given below:
|
Description |
Quarter Ended 31.12.2017 |
Quarter Ended 30.09.2017 |
|
Net profit after tax as previous GAAP (Indian GAAP) |
40.880 |
31.164 |
|
i. Equity instruments through other comprehensive income i.e. gain or loss due to valuation of investments at fair value (net of tax) |
5.764 |
1.643 |
|
ii. Re-measurement of net defined benefit liability |
(0.045) |
(0.057) |
|
Total comprehensive income after tax as per Ind AS |
46.599 |
32.750 |
a)
Fair valuation of
Investments .Under the previous GAAP, long -term investments were measured at
cost less diminution in value which is other than temporary. Under Ind AS long
term investments are measured at fair value and resultant gain or loss is recognized
in other comprehensive income or the statement of profit and loss (as
applicable)
b)
Remeasurement cost of
net defined benefit liability: The remeasurement cost arising primarily due to
change in actuarial assumption has been recognised in Other Comprehensive
Income (OCI) under Ind-AS as compared to Statement of Profit and Loss under
previous GAAP.
- Previous period figures have been regrouped / rearranged wherever necessary for comparison purposes.
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Income Tax |
16.962 |
16.962 |
|
VAT/Sales Tax |
5.309 |
5.309 |
|
Excise Duty (Interest thereon not ascertainable at present) |
19.624 |
19.624 |
|
During 1993, the Company had imported plant and machinery under Export Promotion Capital Goods Scheme (‘EPCG’) at concessional rate of custom duty against export obligation under the said Scheme. As the Company could complete only partial Export obligation, it has received a notice of demand from Directorate General of Foreign Trade (‘DGFT’). The Company has paid the entire differential duty amount for INR 9468900 on 10.05.2011 and has made necessary submissions before the authorities. In view of this submission and pending decision of forum, interest liability is not ascertainable. |
||
|
Certain claims/show cause notices including notices related to arbitration for matters disputed have neither been considered as contingent liabilities nor acknowledged as claims based on the opinions obtained from legal counsels. |
||
FIXED ASSETS
- Land Freehold
- Factory Building
- Office Building
- Plant and Machinery
- Electric Installation
- Laboratory Equipments
- Office Equipments
- Furniture and Fixtures
- Vehicles
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 65.01 |
|
|
1 |
INR 90.12 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
SUD |
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 |
YES |
|
--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.