|
|
|
MIRA INFORM REPORT
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Report No. : |
497006 |
|
Report Date : |
13.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
VINAR SYSTEMS PRIVATE LIMITED (w.e.f. 30.03.2001) |
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Formerly Known
As : |
VINAR SYSTEMS LIMITED (w.e.f. 15.09.1988) VINAR SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
9C Lord Sinha Road, 1st
Floor, Kolkata – 700071, West Bengal |
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Tel. No.: |
91-33-30575021 |
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|
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Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2017 |
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|
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Date of Incorporation
: |
29.01.1972 |
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Com. Reg. No.: |
21-028222 |
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|
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Capital
Investment / Paid-up Capital : |
INR 34.047 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29192WB1972PTC028222 |
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|
|
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IEC No.: [Import-Export Code No.] |
0288041348 |
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TIN No.: |
19200710009 |
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CST No.: |
19200710203 |
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GSTN : [Goods & Service Tax
Registration No.] |
19AAACV9241R1ZI |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACV9241R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of storage equipments and its accessories, all types of conveyors
and elevators and its accessories and material handling equipments and its
accessories and manufacturer of furniture from steel or any other metal, wood
or any other material. [Registered
Activity] |
|
|
|
|
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 : |
INR 81569000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1972. It is a manufacturer of
storage equipments and its accessories, all types of conveyors and elevators
and its accessories and material handling equipments and its accessories and
manufacturer of furniture from steel or any other metal, wood or any other
material. The subject’s customer includes BHEL, Aditya Birla, Tata, LG, TVS etc. For the financial year ended 2017, the company has achieved 5.05%
growth in its revenue as compared to previous year revenue along with profit
margin of 0.26%. The satisfactory financial profile of the company is marked by
acceptable networth base along with strong debt coverage indicators due to
low debt balance sheet profile. The rating takes into consideration the subject’s long established
track record of business operations along with extensive experience of its
promoters. However, these strengths are partially offset by working
capital-intensive operations and susceptibility to downturns in the steel and
automotive industries. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 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
|
Name : |
Mr. P. L. Koushik |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-33-30575021 |
|
Date : |
12.03.2018 |
LOCATIONS
|
Registered/ Head Office 1 / Bulk
Handling Division : |
9C Lord Sinha Road, 1st
Floor, Kolkata – 700071 ,West Bengal, India |
|
Tel. No.: |
91-33-22823661 / 22823662 / 22823775 / 22825424 / 30575001 |
|
Mobile No.: |
91-9830605799 [Mr. Rajarshi Sengupta] 91-9434464778 [Mr. Rajiv] |
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Fax No.: |
91-33-22823171 |
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E-Mail : |
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Website : |
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Head Office 2 : |
5 A, Lord Sinha Road, Kolkata – 700071, West Bengal, India |
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Factories / Sales Offices : |
UNIT HANDLING
DIVISION: 23 C, Ashutosh Chowdhury Avenue, KCI Plaza, 5th Floor,
Kolkata – 700071, West Bengal, India Also Located at: · New Delhi · Chennai · Bangalore · Pune · Kanpur · Sri Lanka · Kenya ·
Bangladesh STORAGE SOLUTION: 2/20 Ansari Road, Daryaganj,
New Delhi – 110002, India Also Located at: · Chennai · Mumbai · Bangalore · Hyderabad · Nagpur ·
Kochi FURNITURE: · New Delhi · Chennai · Mumbai · Bangalore · Hyderabad · Nagpur ·
Kochi |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Haigreve Khaitan |
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Designation : |
Director |
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Address : |
1104 Sterling Seaface Dr. Annie Besant Road, Worli, Mumbai – 400018,
Maharashtra, India |
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Date of Birth/Age : |
13.07.1970 |
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Qualification : |
Graduation |
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Date of Appointment : |
01.08.1994 |
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DIN No.: |
00005290 |
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Other Directorship:
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Name : |
Mr. Pradeep Kumar Singhi |
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Designation : |
Director |
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Address : |
130,Regent Park, Kolkata – 700040, West Bengal, India |
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Date of Birth/Age : |
10.09.1955 |
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Qualification : |
Graduation |
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Date of Appointment : |
22.09.1990 |
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DIN No.: |
00067296 |
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Other Directorship:
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Name : |
Mr. Gautam Nevatia |
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Designation : |
Director |
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Address : |
15 Alipore Road, Kolkata – 700027, West Bengal, India |
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Date of Birth/Age : |
03.01.1968 |
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Qualification : |
Graduation |
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Date of Appointment : |
01.10.2002 |
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PAN No.: |
ACBPN3616J |
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DIN No.: |
00086108 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Vinod Kumar Sagarmal Lohia |
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Designation : |
Wholetime Director |
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Address : |
Be-15, Salt Lake City ,Sector – I, Kolkata – 700064, West Bengal,
India |
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Date of Birth/Age : |
19.10.1994 |
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Qualification : |
Graduation |
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Date of Appointment : |
11.04.1998 |
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PAN No.: |
AAUPL9538J |
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DIN No.: |
00089061 |
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Other Directorship:
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Name : |
Mr. Sudeep Kumar Lohia |
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Designation : |
Wholetime Director |
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Address : |
Be - 15, Salt Lake City, Sector - 1, Po Salt Lake, Kolkata – 700064,
West Bengal, India |
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Date of Birth/Age : |
27.11.1967 |
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Qualification : |
Graduation |
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Date of Appointment : |
19.09.2015 |
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DIN No.: |
00089111 |
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Other Directorship:
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|
Name : |
Mr. Sumit Nevatia |
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Designation : |
Wholetime Director |
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Address : |
Flat No 1c, Shree Niket 11, Ashoka Road, Alipore, Kolkata – 700027,
West Bengal, India |
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Date of Birth/Age : |
29.01.1966 |
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Qualification : |
Graduation |
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|
Date of Appointment : |
19.09.2015 |
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DIN No.: |
06548856 |
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KEY EXECUTIVES
|
Name : |
Mr. P. L. Koushik |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Vinar Conveyors Private Limited, India |
|
504 |
|
Gautam Nevatia |
|
329947 |
|
Gautam Nevatia F&NG of Ananya Nevatia |
|
50 |
|
Suniti Nevatia |
|
9923 |
|
Gautam Nevatia F&NG Adya Nevatia |
|
48 |
|
|
|
|
|
Total |
|
340472 |
Equity Share Break up (Percentage of Total Equity)
AS ON 22.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
99.85 |
|
Promoters [Bodies
corporate] |
0.15 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of storage equipments and its accessories, all types of conveyors
and elevators and its accessories and material handling equipments and its
accessories and manufacturer of furniture from steel or any other metal, wood
or any other material. [Registered
Activity] |
||||
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||||
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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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|
||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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||||||||||||||||||||||||
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Customers [As per indirect source] : |
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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 : |
|
|
Auditors : |
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|
Name : |
RBSC and Company Chartered Accountants |
|
Address : |
Centre Point 21, Old Court, House Street, Kolkata – 700001, West Bengal, India |
|
PAN No.: |
AAMFS5710M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associate Company : |
|
|
|
|
|
Subsidiary Company : |
|
CAPITAL STRUCTURE
AS ON 22.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 100/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
340472 |
Equity Shares |
INR 100/- each |
INR 34.047 Million |
|
|
|
|
|
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 |
34.047 |
34.047 |
34.047 |
|
(b) Reserves & Surplus |
373.798 |
370.424 |
389.737 |
|
(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) |
407.845 |
404.471 |
423.784 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.766 |
0.501 |
0.856 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
13.500 |
15.437 |
0.000 |
|
(d) Long-term
provisions |
12.762 |
12.874 |
23.673 |
|
Total Non-current
Liabilities (3) |
27.028 |
28.812 |
24.529 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
70.599 |
61.353 |
78.557 |
|
(b) Trade
payables |
167.553 |
183.397 |
233.777 |
|
(c) Other current
liabilities |
159.267 |
153.025 |
187.440 |
|
(d) Short-term
provisions |
13.962 |
12.691 |
12.827 |
|
Total Current
Liabilities (4) |
411.381 |
410.466 |
512.601 |
|
|
|
|
|
|
TOTAL |
846.254 |
843.749 |
960.914 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
28.814 |
33.962 |
37.390 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
8.166 |
|
(b) Non-current Investments |
7.571 |
7.571 |
7.571 |
|
(c) Deferred tax assets (net) |
4.357 |
4.386 |
2.791 |
|
(d)
Long-term Loan and Advances |
9.620 |
9.345 |
9.604 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
50.362 |
55.264 |
65.522 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
167.462 |
181.163 |
178.383 |
|
(c) Trade receivables |
556.135 |
534.942 |
650.388 |
|
(d) Cash
and cash equivalents |
30.789 |
30.375 |
30.595 |
|
(e)
Short-term loans and advances |
31.424 |
23.832 |
16.647 |
|
(f) Other
current assets |
10.082 |
18.173 |
19.379 |
|
Total
Current Assets |
795.892 |
788.485 |
895.392 |
|
|
|
|
|
|
TOTAL |
846.254 |
843.749 |
960.914 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1284.613 |
1222.824 |
1467.069 |
|
|
Other Income |
41.725 |
30.194 |
60.371 |
|
|
TOTAL |
1326.338 |
1253.018 |
1527.440 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
595.815 |
582.392 |
680.419 |
|
|
Purchases of
Stock-in-Trade |
134.849 |
143.395 |
250.595 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
9.751 |
(2.094) |
(14.963) |
|
|
Employee benefit expense |
147.153 |
138.532 |
140.428 |
|
|
Other expenses |
409.181 |
380.212 |
433.225 |
|
|
Exceptional items |
6.924 |
5.838 |
7.036 |
|
|
TOTAL |
1303.673 |
1248.275 |
1496.740 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
22.665 |
4.743 |
30.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
9.112 |
8.394 |
8.689 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
13.553 |
(3.651) |
22.011 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
9.378 |
15.865 |
16.922 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
4.175 |
(19.516) |
5.089 |
|
|
|
|
|
|
|
Less |
TAX |
0.801 |
(0.204) |
(1.373) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
3.374 |
(19.312) |
6.462 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
25.157 |
34.598 |
61.848 |
|
|
TOTAL EARNINGS |
25.157 |
34.598 |
61.848 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
26.865 |
41.931 |
39.228 |
|
|
Capital Goods |
0.000 |
0.000 |
3.753 |
|
|
TOTAL IMPORTS |
26.865 |
41.931 |
42.981 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
9.91 |
(56.72) |
18.98 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(12.033) |
34.156 |
24.750 |
|
Net cash flows from (used in) operating activities |
(23.334) |
22.517 |
5.025 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
158.02 |
159.67 |
161.81 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.31 |
2.29 |
2.26 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
83.70 |
92.23 |
91.65 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.14 |
0.03 |
0.17 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.79 |
0.14 |
0.67 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.49 |
0.49 |
0.53 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.17 |
0.15 |
0.19 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.01 |
1.01 |
1.21 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.07 |
0.08 |
0.11 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.49 |
0.57 |
3.53 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
0.26 |
(1.58) |
0.44 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.40 |
(2.29) |
0.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.83 |
(4.77) |
1.52 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.93 |
1.92 |
1.75 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.53 |
1.48 |
1.40 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.48 |
0.48 |
0.44 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.10 |
1.82 |
2.33 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.93 |
1.92 |
1.75 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
34.047 |
34.047 |
34.047 |
|
Reserves & Surplus |
389.737 |
370.424 |
373.798 |
|
Net
worth |
423.784 |
404.471 |
407.845 |
|
|
|
|
|
|
Long-term borrowings |
0.856 |
0.501 |
0.766 |
|
Short term borrowings |
78.557 |
61.353 |
70.599 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
79.413 |
61.854 |
71.365 |
|
Debt/Equity
ratio |
0.187 |
0.153 |
0.175 |
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 |
1467.069 |
1222.824 |
1284.613 |
|
|
|
(16.649) |
5.053 |
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 |
1467.069 |
1222.824 |
1284.613 |
|
Profit/ (Loss) |
6.462 |
(19.312) |
3.374 |
|
|
0.44
% |
(1.58
%) |
0.26
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
34.047 |
34.047 |
|
(b) Reserves and Surplus |
|
374.137 |
370.736 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.090 |
0.089 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
408.184 |
404.783 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.766 |
0.500 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
13.500 |
15.437 |
|
(d) long-term
provisions |
|
12.761 |
12.874 |
|
Total Non-current
Liabilities (3) |
|
27.027 |
28.811 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
70.599 |
61.353 |
|
(b) Trade payables |
|
167.553 |
183.397 |
|
(c) Other
current liabilities |
|
159.273 |
153.031 |
|
(d) Short-term
provisions |
|
13.962 |
12.691 |
|
Total Current
Liabilities (4) |
|
411.387 |
410.472 |
|
|
|
|
|
|
TOTAL |
|
846.688 |
844.155 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
31.371 |
36.519 |
|
(ii)
Intangible Assets |
|
0.125 |
0.125 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
4.662 |
4.662 |
|
(c) Deferred tax assets (net) |
|
4.357 |
4.386 |
|
(d)
Long-term
loans and advances |
|
9.682 |
9.407 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
50.197 |
55.099 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
167.462 |
181.163 |
|
(c) Trade
receivables |
|
556.139 |
534.958 |
|
(d) Cash and bank
balances |
|
31.383 |
30.935 |
|
(e)
Short-term loans and advances |
|
31.426 |
23.827 |
|
(f) Other
current assets |
|
10.081 |
18.173 |
|
Total
Current Assets |
|
796.491 |
789.056 |
|
|
|
|
|
|
TOTAL |
|
846.688 |
844.155 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
1284.613 |
1222.824 |
|
|
Other Income |
|
41.864 |
30.358 |
|
|
TOTAL |
|
1326.477 |
1253.182 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
595.814 |
582.392 |
|
|
Purchases of
Stock-in-Trade |
|
134.849 |
143.395 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
9.751 |
(2.093) |
|
|
Employee benefit expense |
|
147.153 |
138.532 |
|
|
Other expenses |
|
409.285 |
380.268 |
|
|
Exceptional items |
|
6.924 |
5.838 |
|
|
TOTAL |
|
1303.776 |
1248.332 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
22.701 |
4.850 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
9.112 |
8.394 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
13.589 |
(3.544) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
9.378 |
15.865 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
4.211 |
(19.409) |
|
|
|
|
|
|
|
Less |
TAX |
|
0.808 |
(0.184) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
3.403 |
(19.225) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
10.00 |
(56.47) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from 5 A, Lord Sinha Road, Kolkata – 700071, West Bengal, India to the present address w.e.f. 23.10.2013
REVIEW OF BUSINESS OPERATIONS AND FUTURE
PROSPECTS:
The Company has three divisions viz. Bulk Material Handling Equipment Division, Unit Handling Division and Storage System Division. The Company's turnover for the year increased to INR 1284.600 million from INR 1222.800 million, in the previous year i.e. approx. 5% increase.
In the current year the Company has seen a resurgence of orders in the MHP Division and booked a large single order of INR 1100.000 million. This should lead to better performance of the Company and this Division. However, Capital expenditure in the private sector is yet to pick-up due low availability of Bank finance for projects.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
20.288 |
15.842 |
|
|
|
|
|
Total |
20.288 |
15.842 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G34175778 |
90345516 |
UCO BANK |
06/10/1994 |
16/01/2017 |
- |
480000000.0 |
FLAGSHIP CORPORATE IEP BRANCH2, INDIA EXCHANGE PLACE KOLKATA 700001, WEST BENGAL, INDIA |
|
2 |
G04771242 |
10282385 |
UCO BANK |
19/04/2011 |
- |
20/05/2016 |
70000000.0 |
MID CORPORAT BRANCH 10, B. T. M. SARANI, KOLKATA 700001, WEST BENGAL, INDIA |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 65.08 |
|
|
1 |
INR 89.85 |
|
Euro |
1 |
INR 80.16 |
INFORMATION DETAILS
|
Information Gathered
by : |
KMN |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
NKT |
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.