|
|
|
MIRA INFORM REPORT
|
Report No. : |
497052 |
|
Report Date : |
16.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SAURASHTRA FUELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
202 – Sarthik 2, Near Kiran Motors Opposite Rajputh Club, Sarkjej – Gandhinagar Highway, Ahmedabad – 380015, Gujarat |
|
Tel. No.: |
91-22-40467500 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
06.12.1993 |
|
|
|
|
Com. Reg. No.: |
11-075455 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 87.201 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23200GJ1993PTC097907 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
0395031435 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACS7271G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturing of Coke and Trading of Coal and Coke. (Registered Activity) |
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|
|
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 3200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
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Litigation : |
Clear |
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|
|
|
Comments : |
Saurashtra Fuels Private Limited was incorporated in the year 1993. It is a manufacturer of Coke and Trading of Coal and Coke. For the financial year 2017, the company has achieved 19.51% growth in its revenue as compared to previous year revenue but has incurred operational loss. The sound financial profile of the company is marked by healthy networth base along with negligible debt level. The rating also takes into consideration the subjects long established track record of business operations along with extensive experience of its promoters. However, these rating strengths are partially offset by vulnerability of profitability of fluctuation in raw material prices and working capital intensive nature of operations. Business is active. Payment 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 |
CARE |
|
Rating |
Long term bank facilities: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
01.02.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
01.02.2018 |
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 16.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management Non-Cooperative (91-22-40467525)
LOCATIONS
|
Registered Office : |
202 – Sarthik 2, Near Kiran Motors Opposite Rajputh Club, Sarkjej – Gandhinagar Highway, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-40227500 |
|
Mobile No.: |
91-9833947445 (Mr. Vikas) |
|
Fax No.: |
91-79-40034142 |
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E-Mail : |
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|
Website : |
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|
|
|
|
Porbandar Office : |
4th Floor, Shree Chambers, Opposite M.E.M. School, Near Kamla Nehru
Baug, Porbander – 360575, |
|
Tel. No.: |
91-286-2243586 |
|
Fax No.: |
91-286-2240908 |
|
|
|
|
Mundra Office : |
Maha Shakti Coke, 2nd Floor, Saurashtra CFS, Admin
Building, Bharat CFS Zone-1 MP and SEZ Limited Road, Mundra – 370421
(District Kutch), Gujarat, India |
|
Tel. No.: |
91-2838-222525 |
|
Fax No.: |
91-2838-224141 |
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Factory 1 : |
Village Lakhapur and Baraya, Mundra, Kutch – 370421, |
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Factory 2 : |
Village Bhod, Ranavav, Porbandar – 360575, |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Dipak Agarwalla |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
13/14, 13th
Floor, Buckley Court, Wodehouse Road, Colaba, Mumbai – 400005, Maharashtra,
India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
03.02.1954 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
06.12.1993 |
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PAN No.: |
ADDPA3497R |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00267085 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Kunda Singh |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
House No-1604, Phase-10, Mohali - 160062,
Punjab, India |
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Date of Birth/Age : |
10.07.1935 |
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Qualification : |
B.Sc. , M.I.I. chem. |
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Date of Appointment : |
01.07.1995 |
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PAN No.: |
AAAPK0712C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00971459 |
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Raghav Dipak Agarwalla |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
13/14, Buckely Court, 13th
Floor, 5, Woodhouse Road, Colaba, Mumbai - 400005, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.03.1987 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.11.2010 |
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PAN No.: |
AHBPA8174F |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
01085318 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Surendra Kumar Sinha |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Brahma House,
Dhirendra Puram, Dhaiya, P. O. - ISM, Dhanbad, Jharkhand – 826004, India |
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Date of Birth/Age : |
22.08.1952 |
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|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
06.12.2003 |
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PAN No.: |
AHFPS8855D |
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DIN No.: |
01511505 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Navin Kumar Sinha |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Brahma House, Dhirendra Puram, Dhaiya, P.O – ISM, Dhanbad, Jharkhand –
826004, India |
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|
Date of Birth/Age : |
22.05.1979 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Qualification : |
M.B.A. |
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|
Date of Appointment : |
22.12.2010 |
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PAN No.: |
AIEPS3226L |
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DIN No.: |
01593775 |
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Other Directorship:
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajesh Manharlal Desai |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
8 Chapsey Terrace 30 Altamount, Road,
Mumbai - 400023, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
16.09.1958 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.09.2008 |
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DIN No.: |
01719358 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Mahendra Kantilal Shah |
|
Designation : |
Company Secretary |
|
Address : |
B/9, 2nd Floor, Ajinkya
Apartments, TPS II, 80, Tagore Road, Santacruz (West), Mumbai - 400054,
Maharashtra, India |
|
Date of Birth : |
04.08.1932 |
|
Date of Appointment : |
01.09.2015 |
|
PAN No.: |
AAJPS1646P |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Dipak Agarwalla |
|
536750 |
|
Surendra Kumar Sinha |
|
2017400 |
|
Dipak Agarwalla- HUF |
|
72800 |
|
Vibha Agarwalla |
|
78800 |
|
Molshree Trade Invest Private Limited, India |
|
166600 |
|
Divyajyoti Holdings Private Limited, India |
|
166600 |
|
Surendra Kumar Sinha-HUF |
|
33550 |
|
Navin Kumar Sinha |
|
370000 |
|
Ozone Global Limited, U.A.E. |
|
1475100 |
|
Nishant Management Private Limited, India |
|
1000000 |
|
Raghav Dipak Agarwalla |
|
257500 |
|
Genext Global Trade Limited, Singapore |
|
740032 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
38.61 |
|
Promoters- Body corporate |
15.29 |
|
Promoters- Others |
20.70 |
|
Public/Other than promoters- Others |
25.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Coke and Trading of Coal and Coke. (Registered Activity) |
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|
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|
||||
|
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 : |
|
||||||||||||||||||||||||
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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 : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Clb and Associates Chartered Accountants |
|
Address : |
77, Mulji Jetha Building, 3Rd Floor, 185/187,Princess Street, Marine Lines, Mumbai, Maharashtra, India |
|
Income-tax PAN of
auditor or auditor's firm : |
AAEFC1382K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises under significant influence
of key management personnel: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15750000 |
Equity Shares |
INR 10/- each |
INR 157.500 Million |
|
1250000 |
Preference Shares |
INR 100/- each |
INR 125.000 Million |
|
|
Total |
|
INR 282.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8720101 |
Equity Shares |
INR 10/- each |
INR 87.201 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
87.201 |
69.151 |
62.651 |
|
(b) Reserves &
Surplus |
1021.805 |
466.201 |
417.633 |
|
(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) |
1109.006 |
535.352 |
480.284 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1136.894 |
941.360 |
1302.220 |
|
(b) Deferred tax
liabilities (Net) |
73.585 |
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) |
1210.479 |
941.360 |
1302.220 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
563.161 |
245.168 |
138.050 |
|
(b) Trade payables |
982.649 |
1686.026 |
1577.146 |
|
(c) Other current
liabilities |
89.117 |
331.158 |
328.143 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
1634.927 |
2262.352 |
2043.339 |
|
|
|
|
|
|
TOTAL |
3954.412 |
3739.064 |
3825.843 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1082.678 |
576.122 |
634.203 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
154.840 |
510.185 |
439.575 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
104.389 |
19.800 |
99.800 |
|
(c) Deferred tax assets
(net) |
0.000 |
9.077 |
14.220 |
|
(d) Long-term Loan and Advances |
91.242 |
83.227 |
73.940 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1433.149 |
1198.411 |
1261.738 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1598.620 |
1390.233 |
1377.416 |
|
(c) Trade receivables |
635.453 |
643.476 |
682.674 |
|
(d) Cash and cash
equivalents |
89.869 |
247.536 |
193.449 |
|
(e) Short-term loans and
advances |
197.321 |
259.408 |
310.566 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
2521.263 |
2540.653 |
2564.105 |
|
|
|
|
|
|
TOTAL |
3954.412 |
3739.064 |
3825.843 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
5071.503 |
4243.731 |
5631.908 |
|
|
Other Income |
74.926 |
115.638 |
48.826 |
|
|
TOTAL |
5146.429 |
4359.369 |
5680.734 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3949.134 |
3340.064 |
4020.869 |
|
|
Purchases of
Stock-in-Trade |
27.666 |
9.492 |
823.373 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(376.983) |
81.732 |
(191.289) |
|
|
Employees benefits
expense |
259.436 |
207.702 |
211.263 |
|
|
Other expenses |
1098.854 |
441.396 |
373.972 |
|
|
TOTAL |
4958.107 |
4080.386 |
5238.188 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
188.322 |
278.983 |
442.546 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
147.433 |
199.331 |
230.679 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
40.889 |
79.652 |
211.867 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
131.054 |
70.758 |
83.892 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(90.165) |
8.894 |
127.975 |
|
|
|
|
|
|
|
Less |
TAX |
179.634 |
5.827 |
119.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(269.799) |
3.067 |
8.675 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
310.849 |
307.782 |
300.255 |
|
|
|
|
|
|
|
|
Depreciation on
transition |
0.000 |
0.000 |
(1.148) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
41.050 |
310.849 |
307.782 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
53.270 |
102.577 |
347.159 |
|
|
Others |
0.000 |
0.000 |
27.880 |
|
|
TOTAL EARNINGS |
53.270 |
102.577 |
375.039 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3205.049 |
2920.442 |
764.699 |
|
|
Components and Stores
parts |
27.668 |
6.721 |
2844.298 |
|
|
TOTAL IMPORTS |
3232.717 |
2927.163 |
3608.997 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(30.94) |
0.44 |
1.39 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
15.226 |
301.785 |
278.528 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(275.060) |
297.969 |
741.925 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(276.755) |
269.362 |
798.163 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
45.73 |
55.34 |
44.24 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.98 |
6.60 |
8.25 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
90.19 |
183.73 |
118.83 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.12 |
0.20 |
0.32 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.15 |
0.26 |
0.41 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.70 |
0.94 |
0.95 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.55 |
2.78 |
3.58 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.47 |
4.23 |
4.25 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.12 |
2.03 |
2.24 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.28 |
1.40 |
1.92 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(5.32) |
0.07 |
0.15 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(6.82) |
0.08 |
0.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(24.33) |
0.57 |
1.81 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.54 |
1.12 |
1.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.56 |
0.51 |
0.58 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.28 |
0.14 |
0.13 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
19.67 |
21.52 |
27.43 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.54 |
1.12 |
1.25 |
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 |
62.651 |
69.151 |
87.201 |
|
Reserves & Surplus |
417.633 |
466.201 |
1021.805 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
480.284 |
535.352 |
1109.006 |
|
|
|
|
|
|
Long Term borrowings |
1302.220 |
941.360 |
1136.894 |
|
Short Term borrowings |
138.050 |
245.168 |
563.161 |
|
Current Maturities of Long term debt |
278.528 |
301.785 |
15.226 |
|
Total
borrowings |
1718.798 |
1488.313 |
1715.281 |
|
Debt/Equity
ratio |
3.579 |
2.780 |
1.547 |
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
|
5631.908 |
4243.731 |
5071.503 |
|
|
|
(24.648) |
19.506 |
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
|
5631.908 |
4243.731 |
5071.503 |
|
Profit |
8.675 |
3.067 |
(269.799) |
|
|
0.15% |
0.07% |
(5.32%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
87.201 |
69.151 |
|
(b) Reserves and Surplus |
|
1018.195 |
466.201 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1105.396 |
535.352 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1136.894 |
941.360 |
|
(b) Deferred tax liabilities (Net) |
|
73.585 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
1210.479 |
941.360 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
563.161 |
245.168 |
|
(b) Trade
payables |
|
986.224 |
1686.026 |
|
(c) Other
current liabilities |
|
89.117 |
331.158 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
1638.502 |
2262.352 |
|
|
|
|
|
|
TOTAL |
|
3954.377 |
3739.064 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1082.678 |
576.122 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
|
154.840 |
510.185 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
104.313 |
19.800 |
|
(c) Deferred tax assets (net) |
|
0.000 |
9.077 |
|
(d)
Long-term loans and advances |
|
91.242 |
83.227 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1433.073 |
1198.411 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1598.620 |
1390.233 |
|
(c) Trade
receivables |
|
635.453 |
643.476 |
|
(d) Cash and
bank balances |
|
89.885 |
247.536 |
|
(e)
Short-term loans and advances |
|
197.346 |
259.408 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
2521.304 |
2540.653 |
|
|
|
|
|
|
TOTAL |
|
3954.377 |
3739.064 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
5071.503 |
4243.731 |
|
|
Other Income |
|
74.926 |
115.638 |
|
|
TOTAL |
|
5146.429 |
4359.369 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
3949.133 |
3340.063 |
|
|
Purchases of
Stock-in-Trade |
|
27.668 |
9.493 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(376.983) |
81.732 |
|
|
Employee benefit expense |
|
259.436 |
207.702 |
|
|
Other expenses |
|
1098.861 |
441.396 |
|
|
TOTAL |
|
4958.115 |
4080.386 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
188.314 |
278.983 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
147.433 |
199.331 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
40.881 |
79.652 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
131.054 |
70.758 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(90.173) |
8.894 |
|
|
|
|
|
|
|
Less |
TAX |
|
179.633 |
5.827 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(269.806) |
3.067 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(30.94) |
0.44 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
Subjectis India’s largest Merchant coke manufacturers and exporters in the private sector. The coke manufacturing facility located at Gujarat in the western part of India. Saurashtra’s in house oven technology is one of the best suited and most advanced in non-recovery type of coke oven Plant’s in India. The Coke plant is highly mechanized using equipments such as Pusher car’s, charging car, Conveyors etc to ensure efficiency.
The Plant has a proprietary stamping process which gives it the flexibility in using different types of semi and hard coking coal. CSR and CRI in our coke is one of the best in the industry.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM
BORROWING |
|
|
|
Fully convertible debentures others |
280.000 |
0.000 |
|
Loans repayable on demand from others |
0.000 |
81.487 |
|
Deferred sales tax loan |
843.900 |
843.900 |
|
Loans and advances from directors |
9.950 |
0.000 |
|
Total |
1133.850 |
925.387 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G62372065 |
10298744 |
STATE BANK OF
INDIA |
07/07/2011 |
09/11/2017 |
- |
1431100000.0 |
MID CORPORATE
GROUP, COMMERCIAL BRANCHPARAMSIDDHI COMPLEX, ELLISBRIDGE, ASHRAM
ROADAHMEDABADGJ380006IN |
|
2 |
G62374848 |
10298763 |
STATE BANK OF
INDIA |
07/07/2011 |
09/11/2017 |
- |
1431100000.0 |
MID CORPORATE GROUP,
COMMERCIAL BRANCHPARAMSIDDHI COMPLEX, ELLISBRIDGE, ASHRAM
ROADAHMEDABADGJ380006IN |
|
3 |
G62379714 |
10298767 |
STATE BANK OF
INDIA |
07/07/2011 |
09/11/2017 |
- |
1431100000.0 |
MID CORPORATE GROUP,
COMMERCIAL BRANCHPARAMSIDDHI COMPLEX, ELLISBRIDGE, ASHRAM
ROADAHMEDABADGJ380006IN |
|
4 |
G62382262 |
10298775 |
STATE BANK OF
INDIA |
07/07/2011 |
09/11/2017 |
- |
1431100000.0 |
MID CORPORATE GROUP,
COMMERCIAL BRANCHPARAMSIDDHI COMPLEX, ELLISBRIDGE, ASHRAM
ROADAHMEDABADGJ380006IN |
|
5 |
G62384748 |
10298808 |
STATE BANK OF
INDIA |
07/07/2011 |
09/11/2017 |
- |
1431100000.0 |
MID CORPORATE
GROUP, COMMERCIAL BRANCH,PARAMSIDDHI COMPLEX, ELLISBRIGE, ASHRAM
ROADAHMEDABADGJ380006IN |
|
6 |
G62368873 |
10201586 |
STATE BANK OF
INDIA |
24/12/2009 |
09/11/2017 |
- |
1431100000.0 |
MID CORPORATE GROUP,
COMMERCIAL BRANCHPARAMSIDDHI COMPLEX, ELLISBRIDGE, ASHRAM
ROADAHMEDABADGJ380006IN |
|
7 |
G62373857 |
10205620 |
STATE BANK OF
INDIA |
24/12/2009 |
09/11/2017 |
- |
1431100000.0 |
MID CORPORATE GROUP,
COMMERCIAL BRANCHPARAMSIDDHI COMPLEX, ELLISBRIDGE, ASHRAM
ROADAHMEDABADGJ380006IN |
|
8 |
G62377874 |
10201483 |
STATE BANK OF
INDIA |
24/12/2009 |
09/11/2017 |
- |
1431100000.0 |
MID CORPORATE GROUP,
COMMERCIAL BRANCHPARAMSIDDHI COMPLEX, ELLISBRIDGE, ASHRAM
ROADAHMEDABADGJ380006IN |
|
9 |
G62381025 |
10207206 |
STATE BANK OF
INDIA |
24/12/2009 |
09/11/2017 |
- |
1431100000.0 |
MID CORPORATE GROUP,
COMMERCIAL BRANCHPARAMSIDDHI COMPLEX, ELLISBRIDGE, ASHRAM
ROADAHMEDABADGJ380006IN |
|
10 |
G62383567 |
10201417 |
STATE BANK OF
INDIA |
24/12/2009 |
09/11/2017 |
- |
1431100000.0 |
MID CORPORATE GROUP,
COMMERCIAL BRANCHPARAMSIDDHI COMPLEX, ELLISBRIDGE, ASHRAM
ROADAHMEDABADGJ380006IN |
|
11 |
G70949763 |
10554912 |
RELIANCE CAPITAL
LTD |
29/11/2014 |
- |
20/12/2017 |
50886750.0 |
"H"
BLOCK 1ST FLOORDHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNENAVI MUMBAIMH400710IN |
|
12 |
G49180375 |
100034015 |
RELIANCE CAPITAL
LTD. |
07/06/2016 |
- |
06/07/2017 |
16300000.0 |
THE RUBY,11TH
FLOOR,NORTH WEST WING,PLOT NO. 29, J K SAWANT MARG,DADARMUMBAIMH400028IN |
|
13 |
G37834611 |
10627209 |
RELIANCE CAPITAL LTD |
30/09/2015 |
- |
16/02/2017 |
8000000.0 |
"H"
BLOCK 1ST FLOORDHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNENAVI
MUMBAIMH400710IN |
|
14 |
B73392862 |
10063856 |
ICICI BANK LIMITED |
24/07/2007 |
- |
28/03/2013 |
4734000.0 |
LANDMARKRACE COURCE
CIRCLEALKAPURIBARODAGJ390015IN |
|
15 |
B73390932 |
10063857 |
ICICI BANK LIMITED |
06/07/2007 |
- |
28/03/2013 |
17248005.0 |
LANDMARKRACE
COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
16 |
B64316664 |
80001939 |
ING VYSYA BANK
LIMITED |
01/07/2005 |
11/06/2009 |
19/12/2012 |
42000000.0 |
P.B.NO.4038
CHANAKYA BUILDINGNEAR DINESH HALL OFF ASHRAM ROADAHMEDABADGJ380009IN |
|
17 |
B63804306 |
80001938 |
STATE BANK OF
INDIA |
18/12/2000 |
23/08/2007 |
13/12/2012 |
1844700000.0 |
COMMERCIAL BRANCH,
3RD PARAMSIDDHI COMPLEX,ELLISBRIDGE,AHMEDABADGJ380006IN |
|
18 |
B63804637 |
80001943 |
STATE BANK OF
INDIA |
19/08/2003 |
25/08/2007 |
13/12/2012 |
582000000.0 |
COMMERCIAL BRANCH,
3RD FLOOR, PARAMSIDDHI COMPLEX,OPP. V.S. HOSPITAL, ELLISBRIDGE,AHMEDABADGJ380006IN |
|
19 |
B63604110 |
80052071 |
STATE BANK OF
TRAVANKORE |
13/04/2005 |
29/03/2006 |
04/12/2012 |
124000000.0 |
KAIVANNAAMBAWADI
ELLISH BRIDGEAHMEDABADGJ380006IN |
|
20 |
B63800437 |
80052070 |
UNION BANK OF
INDIA |
24/09/2004 |
29/03/2006 |
01/12/2012 |
50000000.0 |
IFB. ASHRAM
ROADAHMEDABADGJ380014IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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 64.94 |
|
|
1 |
INR 90.72 |
|
Euro |
1 |
INR 80.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.