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|
|
MIRA INFORM REPORT
|
Report No. : |
496565 |
|
Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
STELMEC LIMITED (w.e.f. 17.07.2007) |
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Formerly Known
As : |
STELMEC PRIVATE LIMITED (w.e.f. 16.08.2005) STELMEC (INDIA) PRIVATE LIMITED |
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Registered
Office : |
Sea Queen 43 A, H K Bhabha Road, Bandstand, Bandra (West), Mumbai -
400050, Maharashtra |
|
Tel. No.: |
91-22-26436127 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
29.02.2000 |
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Com. Reg. No.: |
11-124565 |
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Capital
Investment / Paid-up Capital : |
INR 66.427 Million |
|
|
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CIN No.: [Company Identification
No.] |
U31200MH2000PLC124565 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No.: |
27480374589 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAECS5686B1Z8 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECS5686B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is mainly engaged in manufacture of electricity distribution and control apparatus. [Registered Activity] |
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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 |
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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 was incorporated in the year 2000. The company is a
manufacturer of low voltage power distribution products, medium voltage range
products, vacuum circuit breakers and associated control relay panels and
products, MV switchgears, As per the financial records of 2017, the company has achieved a
favourable growth of 23.63% in its revenue as compared to the previous year’s
and has reported an average profitability margin of 1.99%. The healthy financial position of the company is marked by above average
net worth base along with strong debt coverage indicator due to low debt
balance sheet profile and fair liquidity position. Buisness is active. Payment seems to be regular. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
BRICKWORK |
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Rating |
Long term loans = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
17.11.2017 |
|
|
|
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Rating Agency Name |
BRICKWORK |
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Rating |
Short term loans = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
17.11.2017 |
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 13.03.2018.
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 BY
Tel. No.: 91-22-26436127 (Office executive)
LOCATIONS
|
Registered Office / Corporate
Office : |
Sea Queen 43 A, H K Bhabha Road, Bandstand, Band Stand, Bandra (West),
Mumbai - 400050, Maharashtra, India |
|
Tel. No.: |
91-22-26436127 / 28 / 29 |
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Fax No.: |
91-22-26436139 |
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E-Mail : |
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Website : |
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Medium Voltage
Switchgear SBU-I: |
Ahmedabad-Sanand Road, Ullaria, Taluka Sanand, Ahmedabad-382110,
Gujarat, India |
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Tel. No.: |
91-2717-237640/329 65556 |
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Fax No.: |
91-2717-237726 |
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E-Mail : |
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Medium Voltage Switchgear, SBU-II : |
Virar-Vajreshwari Road, Usgaon, P.O. Bhatana, Vasai (East), District Thane-401303,
Maharashtra, India |
|
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Power IT Solutions, SBU-III : |
Plot No. 14/15, Western Express Highway
No. 8, Sativali, Vasai (East), District-Thane-401202,
Maharashtra, India |
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Smart Grid Competency Centre, SBU-IV : |
55, Corporate Avenue, Office No. 506/507, Saki Vihar Road, Andheri (East) – Mumbai – 400072,
Maharashtra, India |
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Branch Office 1 : |
Office No. 405, C51, BSI Business Park Sector 62, Noida- 201307, Uttar Pradesh, India |
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Branch Office 2 : |
House No.1005, 1st Floor,Sector-16, Panchkula, Chandigarh – 134113, Punjab, India |
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Branch Office 3 : |
Flat No.204, 2nd Floor, Coronation Bijwa Apartment, MG Road (Kalidas Marg), Lucknow-226001, Uttar Pradesh, India |
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Branch Office 4 : |
Karnani Estate, Office No. 96, 3rd Floor, 209, A J C Bose Road, Kolkata – 700017, West Bengal, India |
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Branch Office 5 : |
Destiny, House No: 12, 1st Floor, Bye Lane 7, Sub Lane 4, Lachit Nagar, Guwhati-781007, Assam, India |
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Branch Office 6 : |
305, 3rd Floor, Creative Industrial Estate, Sunder Nagar, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India |
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Branch Office 7 : |
901 ,”Iscon” Atria-1, Opposite Gujarat Energy Training and Research Institute (Getri), Gotri Road, Vadodara -390021, Gujarat, India |
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Branch Office 8 : |
Flat-1, Ganga Jamuna Apartment-IVth, B-111, Ganga Jamuna Colony, Murlipura, Jaipur - 302039, Rajasthan, India |
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Branch Office 9 : |
6 - 3- 652, Dhruvatara Apartment, 6th Floor, 6-E, Somajigoda, Hyderabad – 500082, Telangana, India |
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Branch Office 10 : |
37, B-3, 1st Floor, Murli Ananad Apt ,Loganathan Colony, Mylapore, Chennai – 600004, Tamilnadu, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Hamza Esmial Ariswala |
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Designation : |
Managing Director |
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|
Address : |
Sea Queen, 4th Floor, 43-A, H. K. Bhabha Road, Bandstand,
Bandra (West), Mumbai-400050, Maharashtra, India |
||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
17.06.1959 |
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Qualifications: |
B.E. Tec |
||||||||||||||||||||||||||||||||
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Date of Appointment : |
29.02.2000 |
||||||||||||||||||||||||||||||||
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PAN No.: |
AAGPA6159C |
||||||||||||||||||||||||||||||||
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DIN No.: |
00378521 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||
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Name : |
Mrs. Dolly Hamza Arsiwala |
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Designation : |
Whole-time Director |
||||||||||||||||||||||||||||||||
|
Address : |
Sea Queen 43-A, H. K. Bhabha Road, Bandstand, Bandra (West),
Mumbai-400050, Maharashtra, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.11.1958 |
||||||||||||||||||||||||||||||||
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Qualifications: |
M.S.C. |
||||||||||||||||||||||||||||||||
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Date of Appointment : |
01.03.2005 |
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PAN No.: |
AAGPA7456A |
||||||||||||||||||||||||||||||||
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DIN No.: |
00378517 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||
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Name : |
Mr. Shyamsunder Venkatesh Deo |
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Designation : |
Director |
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Address : |
Flat No. 201, Bhairavi Apartment S. No. 132B/5A, ICS Cly, Pune – 411007, Maharashtra, India |
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Date of Birth/Age : |
15.05.1940 |
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Qualifications: |
B.E. Electrical |
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Date of Appointment : |
12.10.2015 |
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PAN No.: |
ABGPD1437R |
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DIN No.: |
00210554 |
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Other Directorship:
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||||||||||||||||||||||||||||||||
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Name : |
Ms. Lameeya Hamza Arsiwala |
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Designation : |
Director |
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|
Address : |
Sea Queen 43-A, H. K. Bhabha Road, Bandstand, Bandra (West),
Mumbai-400050, Maharashtra, India |
||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
14.10.1988 |
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Qualifications: |
Bachelor of Media and Commerce |
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Date of Appointment : |
21.07.2008 |
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PAN No.: |
AVLPA0705E |
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DIN No.: |
02264323 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Alka Jain |
|
Designation : |
Company secretary |
|
Address : |
Flat No.B-3/25, Satsang Complex, Upper Govind Nagar, Malad (East),
Mumbai-400092, Maharashtra, India |
|
Mobile No.: |
91-9833376593 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Hamza |
|
6242833 |
|
Dolly H Arsiwala |
|
2495 |
|
Lameeya H Aesiwala |
|
96460 |
|
Dinesh Salian |
|
80 |
|
Vijay Mohan |
|
80 |
|
Paresh B. Doshi |
|
80 |
|
Poonam M Bhanushali |
|
30 |
|
Neeta P Dama |
|
30 |
|
Suryakant M Vora |
|
30 |
|
Malji K Bhanushali |
|
180 |
|
Rekha M Bhanushali |
|
180 |
|
Jitendra R Dama |
|
180 |
|
Subhankamna Commercial Private Limited, India |
|
214667 |
|
Shree Sigotar Metalchem Private Limited, India |
|
85333 |
|
Total |
|
6642658 |
AS ON 29.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
95.47 |
|
Public/Other than promoters - Individual/Hindu Undivided Family – Indian |
0.01 |
|
Public/Other than promoters - Bodies corporate |
4.52 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is mainly engaged in manufacture of electricity distribution and control apparatus. [Registered Activity] |
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Products / Services
: |
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||||
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||||
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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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|
||||
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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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|
||||||||||||||||||||||||
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No. of Employees : |
Information denied by the management |
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Bankers : |
|
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Facilities : |
|
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Auditors : |
|
|
Name : |
O. K. Malpani and Associates Chartered Accountants |
|
Address : |
B-304, Summer Trinity Tower - 2, New Prabha Devi Road, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Income-tax PAN
of auditor or auditor's firm : |
AAEPM2399A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
INR 10/- each |
INR 70.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6642658 |
Equity Shares |
INR 10/- each |
INR 66.427 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
66.427 |
66.427 |
66.427 |
|
(b) Reserves and Surplus |
552.351 |
451.152 |
357.080 |
|
(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) |
618.778 |
517.579 |
423.507 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
112.363 |
98.590 |
99.322 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
112.363 |
98.590 |
99.322 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
533.218 |
360.473 |
201.435 |
|
(b) Trade
payables |
1993.581 |
1285.829 |
1173.447 |
|
(c) Other current
liabilities |
348.620 |
119.416 |
82.971 |
|
(d) Short-term
provisions |
11.221 |
0.781 |
17.599 |
|
Total Current
Liabilities (4) |
2886.640 |
1766.499 |
1475.452 |
|
|
|
|
|
|
TOTAL |
3617.781 |
2382.668 |
1998.281 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
126.559 |
91.024 |
95.773 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
31.554 |
56.940 |
0.685 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
3.386 |
2.653 |
1.339 |
|
(d)
Long-term loans and advances |
11.719 |
4.052 |
39.743 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
173.218 |
154.669 |
137.540 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
375.562 |
333.751 |
206.477 |
|
(c) Trade
receivables |
2531.768 |
1376.911 |
1215.383 |
|
(d) Cash and
bank balances |
395.644 |
356.817 |
320.675 |
|
(e)
Short-term loans and advances |
113.123 |
133.348 |
83.367 |
|
(f) Other
current assets |
28.466 |
27.172 |
34.839 |
|
Total Current
Assets |
3444.563 |
2227.999 |
1860.741 |
|
|
|
|
|
|
TOTAL |
3617.781 |
2382.668 |
1998.281 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
5287.736 |
4277.015 |
3500.104 |
|
|
Other Income |
19.626 |
14.148 |
16.300 |
|
|
TOTAL |
5307.362 |
4291.163 |
3516.404 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4249.137 |
3322.927 |
2823.340 |
|
|
Employee benefit expense |
311.507 |
267.600 |
198.350 |
|
|
CSR expenditure |
1.100 |
0.000 |
0.000 |
|
|
Other expenses |
466.887 |
451.508 |
296.625 |
|
|
TOTAL |
5028.631 |
4042.035 |
3318.315 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
278.731 |
249.128 |
198.089 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
95.792 |
77.704 |
65.697 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
182.939 |
171.424 |
132.392 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
19.407 |
20.226 |
19.578 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
163.532 |
151.198 |
112.814 |
|
|
|
|
|
|
|
Less |
TAX |
58.499 |
53.267 |
40.955 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
105.033 |
97.931 |
71.859 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
4.621 |
27.474 |
1.821 |
|
|
TOTAL EARNINGS |
4.621 |
27.474 |
1.821 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
15.81 |
14.74 |
10.82 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1.285 |
1.243 |
1.514 |
|
Net cash flows from (used in) operations |
(55.052) |
8.009 |
156.064 |
|
Net cash flows from (used in) operating activities |
(66.459) |
(20.269) |
135.490 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
174.76 |
117.51 |
126.74 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
2.09 |
3.11 |
2.88 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
171.25 |
141.24 |
151.70 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.74 |
0.75 |
0.96 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.76 |
1.68 |
2.05 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.83 |
0.78 |
0.79 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.05 |
0.89 |
0.71 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
4.67 |
3.41 |
3.48 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.26 |
0.29 |
0.23 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.91 |
3.21 |
3.02 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
1.99 |
2.29 |
2.05 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.90 |
4.11 |
3.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
16.97 |
18.92 |
16.97 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.19 |
1.26 |
1.26 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.06 |
1.07 |
1.12 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.17 |
0.22 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
9.74 |
6.93 |
4.55 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.19 |
1.26 |
1.26 |
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 |
66.427 |
66.427 |
66.427 |
|
Reserves & Surplus |
357.080 |
451.152 |
552.351 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
423.507 |
517.579 |
618.778 |
|
|
|
|
|
|
Long-term borrowings |
99.322 |
98.590 |
112.363 |
|
Short term borrowings |
201.435 |
360.473 |
533.218 |
|
Current maturities of
long-term debts |
1.514 |
1.243 |
1.285 |
|
Total
borrowings |
302.271 |
460.306 |
646.866 |
|
Debt/Equity
ratio |
0.714 |
0.889 |
1.045 |
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 |
3500.104 |
4277.015 |
5287.736 |
|
|
|
22.197 |
23.631 |
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 |
3500.104 |
4277.015 |
5287.736 |
|
Profit/ (Loss) |
71.859 |
97.931 |
105.033 |
|
|
2.05% |
2.29% |
1.99% |
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 |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
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 |
RESULTS OF OPERATIONS
AND THE STATE OF COMPANY’S AFFAIRS
The Company is mainly engaged in manufacture of electrical and switchover products.
The Company has reported total revenue of INR 5307.362 million for the current year as compared to previous year was INR 4291.163 million. The company has earned Net Profit for the year amounting to INR 105.033 million as compared previous Year Net Profit was INR 97.931 million.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Long-term Borrowings |
|
|
|
Loans and advances from related parties |
11.970 |
6.281 |
|
Other loans and advances, others |
67.874 |
70.717 |
|
Working capital loans from banks |
23.302 |
12.549 |
|
Total |
103.146 |
89.547 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G70106604 |
100141931 |
Canara Bank |
12/09/2017 |
- |
792000.0 |
Bandra (West) Branch, Mumbai-400050, Maharashtra, India |
|
2 |
G59458398 |
100131290 |
Canara Bank |
07/08/2017 |
- |
1058000.0 |
Bandra (West) Branch, Mumbai-400050, Maharashtra, India |
|
3 |
C79515995 |
10621082 |
Canara Bank |
11/01/2016 |
- |
730000000.0 |
Milgres House, 81, Hill Road, Bandra (West), Mumbai-400050, Maharashtra, India |
|
4 |
C79513834 |
10621329 |
Canara Bank |
11/01/2016 |
- |
730000000.0 |
Milgres House, 81, Hill Road, Bandra (West), Mumbai-400050, Maharashtra, India |
|
5 |
G70627419 |
10600822 |
Canara Bank |
28/09/2015 |
17/10/2017 |
2070000000.0 |
Bandra (West) Branch, Mumbai-400050, Maharashtra, India |
|
6 |
B98063191 |
10481621 |
BANK OF BARODA |
24/02/2014 |
- |
240000000.0 |
Meghdoot, Junction of Turner Road and Linking Road, Bandra (West), Mumbai-400050, Maharashtra, India |
|
7 |
B95581070 |
10475821 |
Canara Bank |
19/12/2013 |
- |
732000.0 |
Milgres House, 81, Hill Road, Bandra (West), Mumbai-400050, Maharashtra, India |
|
8 |
C69252682 |
10052870 |
Canara Bank |
27/04/2007 |
30/09/2015 |
1380000000.0 |
Bandra (West) Branch, Mumbai-400050, Maharashtra, India |
|
9 |
A10229177 |
10036106 |
CANARA BANK |
15/01/2007 |
- |
8700000.0 |
Bandra (West) Branch, Mumbai-400050, Maharashtra, India |
|
10 |
A02039808 |
10008563 |
CANARA BANK |
07/06/2006 |
- |
60000000.0 |
50, Hill Road, Bandra (West), Mumbai-400050, Maharashtra, India |
FIXED ASSETS:
- Land
- Building
- Plant and equipment
- Furniture and Fixture
- Computer
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 : |
PON |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
BHG |
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 |
NO |
|
--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.