|
|
|
MIRA INFORM REPORT
|
Report No. : |
497123 |
|
Report Date : |
15.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
YASH CHEMEX LIMITED (w.e.f. 15.02.2016) |
|
|
|
|
Formerly Known
As : |
YASH CHEMEX PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
411, 4th Floor, Sigma Icon-1, 132ft. Ring Road, Opposite
Medilink Hospital, Satellite, Ahmedabad – 380015, Gujarat |
|
Tel. No.: |
91-79-26730257 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation
: |
03.06.2006 |
|
|
|
|
Com. Reg. No.: |
04-048385 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 40.974 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24119GJ2006PLC048385 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
(Registered Activity) |
|
|
|
|
No. of Employees
: |
11 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 3780000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2006 and it is having
satisfactory track records. For the financial year 2017, the company has increased its revenue
from operation as compared to previous year and maintained minimal profit
margin of 0.80%. Rating takes into consideration sound financial profile of the company
marked by adequate networth base and low debt balance sheet. Further, rating also reflects from its long standing track records of
business operations and improvements and improvement in the revenue as well
as profitability profile during the year. However, rating strength is partially offset by low profitability
margin and intense competition from industry. Trade relations are reported as fair. Business is active. Payments are
seems to be usually 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 15.03.2018
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. Ronak Mehta |
|
Designation : |
Account Department |
|
Contact No.: |
91-79-26730257 |
|
Date : |
13.03.2018 |
LOCATIONS
|
Registered Office : |
411, 4th Floor, Sigma Icon-1, 132ft. Ring Road, Opposite
Medilink Hospital, Satellite, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-26730257/ 26730258/ 40028639 |
|
Fax No.: |
91-79-26730258 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Pritesh Shah
Yeshwantbhai |
||||||||||||
|
Designation : |
Managing Director |
||||||||||||
|
Address : |
63, Vrundavan Bunglows Part-1, Jodhpur, Ahmedabad – 380015, Gujarat, India |
||||||||||||
|
Date of Appointment : |
15.03.2016 |
||||||||||||
|
DIN No.: |
00239665 |
||||||||||||
|
Other Directorship:
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Yashwantlal
Chhanalal Shah |
||||||||||||
|
Designation : |
Chairman and Whole time Director |
||||||||||||
|
Address : |
63, Vrundavan Bungalows, Near Medilink Hospital, 132' Ring Road, Satellite, Ahmedabad – 380015, Gujarat, India |
||||||||||||
|
Date of Birth/Age : |
03.08.1941 |
||||||||||||
|
Qualification : |
B.Com |
||||||||||||
|
Date of Appointment : |
03.06.2006 |
||||||||||||
|
DIN No.: |
01002342 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Ms. Dimple Priteshkumar Shah |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Date of Appointment : |
01.01.2018 |
||||||||||||
|
DIN No.: |
06914755 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Ms. Jinal Dineshbhai
Shah |
||||||||||||
|
Designation : |
Independent Director |
||||||||||||
|
Address : |
F/3, Nityanand Appartment, Pritamnagar, Ellisbridge, Ahmedabad – 380006, Gujarat, India |
||||||||||||
|
Date of Appointment : |
30.03.2016 |
||||||||||||
|
DIN No.: |
07467703 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Ms. Angee
Rajendrakumar Shah |
||||||||||||
|
Designation : |
Independent Director |
||||||||||||
|
Address : |
Kirti Society, Opposite Babeshwar Society, Ramnagar, Sabarmati, Ahmedabad – 380005, Gujarat, India |
||||||||||||
|
Date of Appointment : |
09.04.2016 |
||||||||||||
|
DIN No.: |
07486980 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Ms. Vrusha Patel |
||||||||||||
|
Designation : |
Additional Independent Director |
||||||||||||
|
Address : |
E-20, Vaibhav Apartment, Sardar Chowk, Opposite Maniba School, Krishnana Gar, Ahmedabad – 382345, Gujarat, India |
||||||||||||
|
Date of Birth/Age : |
25.06.1995 |
||||||||||||
|
Date of Appointment : |
28.09.2017 |
||||||||||||
|
DIN No.: |
07772669 |
||||||||||||
|
Other Directorship:
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Mr. Raj Vikenkumar
Shah |
||||||||||||
|
Designation : |
Additional Director |
||||||||||||
|
Address : |
Samari Mata Mandir, Balasinor – 388255, Gujarat, India |
||||||||||||
|
Date of Appointment : |
18.12.2017 |
||||||||||||
|
DIN No.: |
07936042 |
||||||||||||
KEY EXECUTIVES
|
Name : |
Ms. Aesha Jashwantray Mashru |
|
Designation : |
Company Secretary |
|
Address : |
A/6, Mital Flats, Near Naranpura Railway Crossing, Naranpura, Ahmedabad – 380013, Gujarat, India |
|
Date of Appointment : |
02.08.2016 |
|
PAN No.: |
CTUPM4352A |
|
|
|
|
Name : |
Mr. Kiritkumar Harjivandas Shah |
|
Designation : |
Chief Financial Officer |
|
Address : |
B-401, Chinmay Cryst Vastrapur Gam, Ahmedabad – 380015, Gujarat, India |
|
Date of Appointment : |
25.02.2016 |
|
PAN No.: |
ADFPS0646A |
|
|
|
|
Name : |
Mr. Ronak Mehta |
|
Designation : |
Account Department |
|
|
|
|
Name : |
Ms. Khiloni |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2017
|
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 |
1972869 |
48.15 |
|
|
(B) Public |
2124501 |
51.85 |
|
|
Grand
Total |
4097370 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
Nos. of
shareholders |
No. of fully
paid up equity shares held |
Shareholding as
a % of total no. of shares (calculated as per SCRR, 1957)As a % of |
Number of Locked
in shares |
||
|
No. |
As a % of total
Shares held |
|||||
|
A1) Indian |
0.00 |
0.00 |
||||
|
Individuals/Hindu
undivided Family |
8 |
1972869 |
48.15 |
840500 |
42.60 |
|
|
SHAH YASHVANT
CHHANALAL-HUF |
1 |
292177 |
7.13 |
119000 |
40.73 |
|
|
PRITESH YASHVANT SHAH
-HUF |
1 |
370999 |
9.05 |
0.00 |
||
|
SHAH YASHVANT CHHANALAL |
1 |
241540 |
5.90 |
130000 |
53.82 |
|
|
PRITESH YASHWANTLAL SHAH |
1 |
603500 |
14.73 |
591500 |
98.01 |
|
|
KOMAL KALPESH SHAH |
1 |
25000 |
0.61 |
0.00 |
||
|
DIMPLE PRITESH SHAH |
1 |
301700 |
7.36 |
0.00 |
||
|
CHANDRIKA YASHVANT SHAH |
1 |
127953 |
3.12 |
0.00 |
||
|
BHAVINA SHAH |
1 |
10000 |
0.24 |
0.00 |
||
|
Sub Total A1 |
8 |
1972869 |
48.15 |
840500 |
42.60 |
|
|
A2) Foreign |
0.00 |
0.00 |
||||
|
A=A1+A2 |
8 |
1972869 |
48.15 |
840500 |
42.60 |
|
Statement showing
shareholding pattern of the Public shareholder
|
Category &
Name of the Shareholders |
No. of
shareholder |
No. of fully paid
up equity shares held |
Shareholding %
calculated as per SCRR, 1957 As a % of |
|
|
B1) Institutions |
0 |
0 |
0.00 |
|
|
B2) Central Government/
State Government(s)/ President of India |
0 |
0 |
0.00 |
|
|
B3) Non-Institutions |
0 |
0 |
0.00 |
|
|
Individual share capital
upto INR 0.200 Million |
95 |
631832 |
15.42 |
|
|
Individual share capital
in excess of INR 0.200 Million |
15 |
1218998 |
29.75 |
|
|
BHAVESH PARESHBHAI DARJI |
1 |
50000 |
1.22 |
|
|
JAY LALITBHAI PATEL |
1 |
156000 |
3.81 |
|
|
KANTIBHAI MEGHJIBHAI
PATEL |
1 |
48000 |
1.17 |
|
|
KISHORKUMAR V. RAKHOLIYA |
1 |
76000 |
1.85 |
|
|
LALITBHAI KANTIBHAI PATEL |
1 |
561000 |
13.69 |
|
|
Navinbhai Gordhanbhai
Patel |
1 |
72000 |
1.76 |
|
|
RINABEN BHAVESHBHAI DARJI |
1 |
50000 |
1.22 |
|
|
Any Other (specify) |
34 |
273671 |
6.68 |
|
|
AMBUJA METAL INDUSTRIES
PRIVATE LIMITED |
1 |
54000 |
1.32 |
|
|
Clearing Members |
23 |
134404 |
3.28 |
|
|
NRI – Repat |
1 |
3000 |
0.07 |
|
|
Bodies Corporate |
9 |
82267 |
2.01 |
|
|
Sub Total B3 |
144 |
2124501 |
51.85 |
|
|
B=B1+B2+B3 |
144 |
2124501 |
51.85 |
BUSINESS DETAILS
|
Line of Business : |
(Registered Activity) |
||||
|
|
|
||||
|
Products/ Services : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
11 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
Note: Cash Credit facility
availed from Yes Bank Limited is secured by Charge on Current Assets,
Equitable mortgage of Residential Bunglows and personal guarantee of
Directors Mr. Pritesh Y Shah and Yashwant C Shah and Fixed deposit. |
|
Auditors : |
|
|
Name : |
Harshad Sudhir and Company Chartered Accountants |
|
Address : |
41, Stadium House, Opposite Municipal Snanagar, Stadium Cross Road,
Navrangpura, Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-26444739 |
|
Mobile No.: |
91-9924388744 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFH3797J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Entities under the
control of Key Management Personnel and their relatives : |
|
CAPITAL STRUCTURE
As on 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
INR 10/- each |
INR 110.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4097370 |
Equity Shares |
INR 10/- each |
INR 40.974
Million |
|
|
|
|
|
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
INR 10/- each |
INR 45.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4097370 |
Equity Shares |
INR 10/- each |
INR 40.974
Million |
|
|
|
|
|
Reconciliation of
number of shares
|
Particulars |
Number of Equity Shares |
|
31st March, 2017 |
|
|
At
the beginning of the year |
3005370 |
|
Add |
|
|
Shares
issued for Cash (IPO) |
1092000 |
|
Shares
issued as Bonus |
0.000 |
|
At
the end of the year |
4097370 |
Rights,
Preferences and Restrictions
The Company has only one class of equity shares having par value of INR 10/- per share. Each equity shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors, if any, is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, if any, in proportion to their shareholding.
Details of
Shareholdings
Shareholders holding more than 5% shares
|
Particulars |
31st March, 2017 |
|
|
Number of Equity Shares |
% of Holding |
|
|
Pritesh
Y Shah |
597500 |
14.58 |
|
Pritesh
Y Shah HUF |
367999 |
8.98 |
|
Yashvantbhai
C Shah HUF |
292177 |
7.13 |
|
Yashvantbhai
C Shah |
241540 |
5.90 |
|
Dimple
P Shah |
277700 |
6.78 |
|
Jay
Lalit Patel |
222000 |
5.42 |
|
Lalit
K Patel |
750000 |
18.30 |
LISTING DETAILS:
|
Subject Stock
Code : |
BSE : 539939 NSE : -- ISIN : INE571U01010 |
|
Stock Exchange Place : |
The Stock Exchange, Mumbai |
|
Listed Date : |
Not Available |
FINANCIAL DATA
[all figures are in
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
40.974 |
30.054 |
14.099 |
|
(b) Reserves & Surplus |
91.326 |
70.905 |
60.603 |
|
(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) |
132.300 |
100.959 |
74.702 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.010 |
|
(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) |
0.000 |
0.000 |
0.010 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
29.487 |
38.178 |
76.687 |
|
(b) Trade
payables |
255.664 |
309.840 |
208.754 |
|
(c) Other current
liabilities |
2.484 |
1.851 |
5.729 |
|
(d) Short-term
provisions |
2.878 |
1.427 |
0.406 |
|
Total Current
Liabilities (4) |
290.513 |
351.296 |
291.576 |
|
|
|
|
|
|
TOTAL |
422.813 |
452.255 |
366.288 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3.412 |
3.772 |
4.323 |
|
(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 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.007 |
0.030 |
1.143 |
|
(d)
Long-term Loan and Advances |
0.150 |
1.106 |
3.748 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3.569 |
4.908 |
9.214 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
29.320 |
114.899 |
90.366 |
|
(c) Trade receivables |
383.077 |
319.469 |
239.675 |
|
(d) Cash
and cash equivalents |
1.534 |
1.398 |
2.724 |
|
(e)
Short-term loans and advances |
5.313 |
11.581 |
24.309 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
419.244 |
447.347 |
357.074 |
|
|
|
|
|
|
TOTAL |
422.813 |
452.255 |
366.288 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
779.824 |
713.808 |
730.414 |
|
|
Other Income |
7.209 |
6.017 |
10.297 |
|
|
TOTAL |
787.033 |
719.825 |
740.711 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
669.012 |
718.571 |
762.332 |
|
|
Inventory |
85.579 |
(24.533) |
(47.330) |
|
|
Employees benefits
expense |
3.590 |
2.488 |
3.043 |
|
|
Direct, Administrative
and other expenses |
14.983 |
11.721 |
11.849 |
|
|
TOTAL |
773.164 |
708.247 |
729.894 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
13.869 |
11.578 |
10.817 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
4.379 |
6.706 |
8.922 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
9.490 |
4.872 |
1.895 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.359 |
0.557 |
0.658 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
9.131 |
4.315 |
1.237 |
|
|
|
|
|
|
|
Less |
TAX |
2.905 |
1.495 |
0.403 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
6.226 |
2.820 |
0.834 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
0.000 |
0.170 |
NA |
|
|
|
|
|
|
|
|
CIF VALUE OF IMPORTS |
76.461 |
174.580 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.61 |
1.36 |
0.45 |
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 |
(18.983) |
(31.879) |
7.618 |
|
Net cash flow from operating activity |
(21.865) |
(24.375) |
7.212 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
179.30 |
163.36 |
119.77 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
2.04 |
2.23 |
3.05 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
139.49 |
157.38 |
99.95 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.47 |
0.10 |
0.12 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
4.06 |
3.07 |
2.50 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.69 |
0.78 |
0.80 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.22 |
0.38 |
1.03 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.20 |
3.48 |
3.90 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.03 |
0.04 |
0.06 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.17 |
1.73 |
1.21 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
0.80 |
0.40 |
0.11 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.47 |
0.62 |
0.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.71 |
2.79 |
1.12 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.44 |
1.27 |
1.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.34 |
0.95 |
0.91 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.31 |
0.22 |
0.20 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.72 |
1.27 |
5.44 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.44 |
1.27 |
1.22 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 175.00/- |
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 |
14.099 |
30.054 |
40.974 |
|
Reserves & Surplus |
60.603 |
70.905 |
91.326 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
74.702 |
100.959 |
132.300 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
76.687 |
38.178 |
29.487 |
|
Total borrowings |
76.687 |
38.178 |
29.487 |
|
Debt/Equity ratio |
1.027 |
0.378 |
0.223 |
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 |
730.414 |
713.808 |
779.824 |
|
|
|
(2.274) |
9.248 |
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 |
730.414 |
713.808 |
779.824 |
|
Profit/(Loss) |
0.834 |
2.820 |
6.226 |
|
|
0.11% |
0.40% |
0.80% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The registered office of the company
has been shifted from “63, Vrundavan Bunglows, Near Medilink Hospital, 132
Ring Road, Satellite, Ahmedabad - 380015,
Gujarat, India” to the present address
w.e.f. 16.01.2014
REVIEW
OF OPERATIONS AND THE STATE OF COMPANY’S AFFAIRS
The
Key highlights pertaining to the business of the company for the year 2016‐17
and period subsequent there to have been given hereunder:
•
The total income of the Company during the financial year 2016‐17
was INR 787.033 Million against the income of INR 719.825 Million in the
previous financial year 2015‐16.
•
The total expenditure during the year was INR 777.902 Million against INR
715.510 Million in the previous year 2015‐16. The Profit after tax
for the year at INR 6.226 was likewise higher than that of profit in the
previous year of INR 2.820 Million.
•
The Directors trust that the shareholders will find the performance of the
company for financial year 2016‐17 to be satisfactory. The
Earning per Share (EPS) of the company is 1.61 per share.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
INDUSTRY
STRUCTURE AND DEVELOPMENTS
The chemical industry in India is a Key Constituent of Indian economy, accounting for about 2.11 percent of the gross domestic product (GDP). In terms of volume of production, Indian Chemical industry is the third largest producer in Asia and sixth largest in the world.
Indian chemical industry generated business worth US $ 118 billion in 2014 Bulk chemicals account for 39 per cent of the Indian chemical industry, followed by agrochemicals (20.3 per cent) and specialty chemicals (19.5 per cent). Pharmaceuticals and biotechnology accounted for remaining share. India’s growing per capita consumption and demand for agriculture related chemicals offers huge scope of growth for the sector in the future. Lured by the size and returns of the Indian market, foreign firms have strengthened their presence in India. From April 2000 to May 2015, total foreign direct investment (FDI) inflows into the Indian chemicals industry (excluding fertilisers) were US $ 10.49 billion.
The Government of India has been Supportive to the sector 100 per cent FDI is permissible in the Indian Chemicals sector while manufacturing of most chemicals products is de‐ licensed. The government has also been encouraging Research and Development (R & D) in the sector. Moreover, the government is continuously reducing the list of reserved chemical items for production in the small scale sector, thereby facilitating greater investment in technology up‐ gradation and modernisation.
OUTLOOK
The long term objective of the Company is to remain strong player in the market with strong emphasis on product and market development. The Company is also continuously improving its operational efficiency and cost control which alone can improve the bottom line in future in highly competitive environment. Further, the Company is hopeful to get advantage of this overall boom likely to happen for the Indian markets and will do all efforts to secure the bigger share of the increasing market in future.
INTERNAL
CONTROL SYSTEMS AND THEIR ADEQUACY
The company has proper and
adequate system of internal control to ensure that all assets are protected
against the loss from unauthorized use or disposition and the transaction are
authorized, recorded and reported correctly. The company has effective system
in place for achieving efficiency in operations, optimum and effective
utilization of resources, monitoring thereof and compliance with applicable
laws.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
From
Banks |
0.817 |
6.335 |
|
From
Directors |
0.000 |
0.339 |
|
From
Financial Institutions |
4.500 |
1.197 |
|
From
Inter Corporate Deposits |
1.654 |
3.358 |
|
Total |
6.971 |
11.229 |
Note: Short Term Unsecured business Loans from Banks and Financial Institutions are repayable as per the agreed repayment Schedules ranging from 12 to 24 Monthly Installments.
INDEX
OF CHARGES
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B78464484 |
10261358 |
YES BANK LIMITED |
16/12/2010 |
07/06/2013 |
- |
40000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI MAHARASHTRA 400018 INDIA |
|
2 |
B08727711 |
10190801 |
STANDARD CHARTERED BANK |
25/12/2009 |
- |
23/03/2011 |
21750000.0 |
GROUND FLOOR, ABHIJEET-IIMITHAKALI SIX ROADS, AHMEDABAD GUJARAT 380006 INDIA |
|
3 |
B08907818 |
10196130 |
STANDARD CHARTERED BANK |
30/12/2009 |
- |
23/03/2011 |
21750000.0 |
GROUND FLOOR, ABHIJEET-IIMITHAKALI SIX ROADS, AHMEDABAD GUJARAT 380006 INDIA |
UNAUDITED FINANCIAL
RESULTS FOR THE HALF AND YEAR EDED 30.09.2017
(INR In Million)
|
PARTICULARS |
6 Months ended (01.04.2017 to 30.09.2017) |
|
|
(Unaudited) |
|
Income from
Operations |
|
|
Revenue from Operations |
446.953 |
|
Other Income |
3.110 |
|
Total Income |
450.063 |
|
Expenses |
|
|
Cost of Materials Consumed |
0.000 |
|
Purchases of Stock-in-Trade |
432.528 |
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.598 |
|
Employees benefits expense |
0.875 |
|
Finance Costs |
1.398 |
|
Depreciation and amortization expense |
0.138 |
|
Other expenses |
6.747 |
|
Total expenses |
442.284 |
|
|
|
|
Profit/ (Loss)
before exceptional Items and tax |
7.779 |
|
Exceptional Items |
0.000 |
|
Profit /(Loss)
before tax |
7.779 |
|
Tax Expense |
2.380 |
|
Profit /(Loss) for
the period |
5.399 |
|
Other Comprehensive Income |
0.000 |
|
Total Comprehensive
Income for the period |
5.399 |
|
Paid up equity share capital (Face value of INR 10/- each) |
40.974 |
|
Reserves excluding revaluation reserves as per balance sheet f previous accounting year |
96.724 |
|
Earnings per share |
|
|
-Basic & Diluted EPS |
1.32 |
Notes:
- The financial result for the half year
ended 30th September, 2017 have been reviewed by the Audit Committee of
the board and approved by the Board of Directors of the company at their
meeting held on 9th November, 2017.
- The figure of the held year ended 30th
September, 2017 are balancing figures between the Audited figures of year
ended on 31.03.2017 and half year ended on 30.09.2016.
- The results for the half year ended
30th September, 2017 presented were subject to a limited review by the
statutory auditor of the company.
- The company operates in one reportable
segment.
- The Board of Directors at their meeting
held on 9th November, 2017 have recommended an interim dividend of INR
0.35 per equity share of INR 10 each for the current financial year.
STATEMENT OF
ASSETS AND LIABILITIES AS AT 30TH SEPTEMBER, 2017
(INR
In Million)
|
SOURCES OF FUNDS |
30.09.2017 (Unaudited) |
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
40.974 |
|
(b) Reserves &
Surplus |
94.998 |
|
(c) Money received
against share warrants |
0.000 |
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
135.972 |
|
|
|
|
(3) Non-Current
Liabilities |
|
|
(a) long-term borrowings |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
|
(d) long-term provisions |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term borrowings |
20.202 |
|
(b) Trade payables |
210.159 |
|
(c) Other current
liabilities |
0.000 |
|
(d) Short-term provisions |
4.704 |
|
Total Current Liabilities
(4) |
235.065 |
|
|
|
|
TOTAL |
371.037 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
|
|
(i) Tangible assets |
3.288 |
|
(ii) Intangible Assets |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
|
(b) Non-current
Investments |
0.000 |
|
(c) Deferred tax assets
(net) |
0.007 |
|
(d) Long-term Loan and Advances |
0.150 |
|
(e) Other Non-current
assets |
0.000 |
|
Total Non-Current Assets |
3.445 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
0.000 |
|
(b) Inventories |
28.721 |
|
(c) Trade receivables |
333.477 |
|
(d) Cash and cash
equivalents |
0.144 |
|
(e) Short-term loans and
advances |
5.250 |
|
(f) Other current assets |
0.000 |
|
Total Current Assets |
367.592 |
|
|
|
|
TOTAL |
371.037 |
CONTINGENT LIABILITIES:
(As on 31.03.2017)
Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilities are not recognised but are disclosed in the financial statements. Contingent Assets are neither recognized nor disclosed in the financial statements.
FIXED ASSETS
- Air Conditioner
- Mobile
- Computers
- Swift Car
- Office Building
- T.V.
- Furniture
- Bike
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 64.98 |
|
|
1 |
INR 90.82 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWE |
|
|
|
|
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.