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MIRA INFORM REPORT
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Report No. : |
496611 |
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Report Date : |
19.03.2018 |
IDENTIFICATION DETAILS
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Name : |
RATNAGIRI IMPEX PRIVATE LIMITED (w.e.f. 13.04.2000) |
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Formerly Known
As : |
GALAXY ANTENNA SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
Annapurna House, #1/1G,7th Cross, New Guddadha Halli,
Mysore Road, Bangalore - 560026, Karnataka |
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Mobile No.: |
91-9448396888 (Mr. Gopi) |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
04.12.1991 |
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Com. Reg. No.: |
08-012578 |
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Capital
Investment / Paid-up Capital : |
INR 30.000 Million |
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CIN No.: [Company Identification
No.] |
U32201KA1991PTC012578 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
29AABCR5888B1Z4 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCR5888B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The
Company is an importer and distributor of agricultural and plantation
equipment’s with a wide network of dealers. [Registered Activity] |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 411100 |
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Status : |
Moderate |
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Payment Behavior : |
Slow but correct |
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Litigation : |
Exists |
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Comments : |
Subject was incorporated in the year 1991 and it is an importer and distributor of agricultural and plantation equipment’s. As per financials of March 2017, the company has registered decline in its revenue as compared to its previous year’s revenue and has reported losses. Rating takes into consideration the company’s continuous losses of business operations along with average debt coverage indicators and unfavorable gap between its trade payables to its trade receivables. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some caution. |
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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 19.03.2018.
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. Gopi |
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Designation : |
Not Divulged |
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Contact No.: |
91-9448396888 |
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Date : |
15.03.2018 |
MANAGEMENT NON-COOPERATIVE (Tel No.: 91-80-26985100)
LOCATIONS
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Registered Office/ Corporate Office : |
Annapurna House, #1/1G,7th Cross, New Guddadha Halli,
Mysore Road, Bangalore - 560026, Karnataka, India |
|
Tel. No.: |
91-80-26985100/ 101/102 |
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Mobile No.: |
91-9448396888 (Mr. S.A.
Gopalakrishna) |
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Fax No.: |
91-80- 26751658 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Suryanarayini Annappasetty Vasudevamurthy |
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Designation : |
Managing Director |
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Address : |
Flat No. 102, Brigade Rathna, Ranga Rao Road, Basavanagudi, Bangalore, 560004, Karnataka, India |
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Date of Appointment : |
19.05.2000 |
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DIN No.: |
00161076 |
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Other Directorship:
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Name : |
Suryanarayani Annappa Setty Sundresh |
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Designation : |
Director |
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Address : |
Sindhura, Narasing Rao Road, Chikamagalur - 577101, Karnataka, India |
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Date of Appointment : |
19.05.2000 |
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DIN No.: |
00161404 |
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Other Directorship:
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Name : |
Suryanarayani Annappa Setty Chandra Mohan |
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Designation : |
Director |
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Address : |
Arunanjali, Raghavendra Swamy, Mutt Road, Chikamagalur – 577101, Karnataka, India |
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Date of Appointment : |
19.05.2000 |
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DIN No.: |
00161475 |
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Other Directorship:
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Name : |
Mr. Gopala Krishna Annappa Setty Suryanarayini |
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Designation : |
Director |
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Address : |
A-11, Sampurna-8, No.63, 3rd Cross, 4th Main Gavipuram Extension, Basavanagudi, Bangalore – 560019, Karnataka India |
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Date of Appointment : |
19.05.2000 |
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DIN No.: |
00161524 |
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Other Directorship:
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Name : |
Suryanarayani Vasudeva Murthy Anand |
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Designation : |
Director |
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Address : |
102, Brigade Rathana Apartment, Ranga Rao Road, Shankarapuram, Bangalore – 560004, Karnataka, India |
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Date of Appointment : |
01.10.2002 |
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DIN No.: |
00196613 |
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Other Directorship:
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Name : |
Suryanarayani Vasudeva Murthy Aravind |
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Designation : |
Director |
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Address : |
Mandara, Narasing Rao Road, Chikmagalur – 577101, Karnataka, India |
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Date of Appointment : |
10.01.2002 |
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DIN No.: |
00325429 |
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Other Directorship:
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
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Names of Shareholders |
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No. of Shares |
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S A Vasudeva murthy |
|
48150 |
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S A Sundersh |
|
75450 |
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S A Chandra Mohan |
|
34350 |
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S A Gopala Krishna |
|
65950 |
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S V Arvind |
|
6000 |
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S V Anand |
|
15600 |
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S V Sharada |
|
10800 |
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S Roopa |
|
10800 |
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S C Nandita |
|
9000 |
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S A Ranjita |
|
15600 |
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S G Savitha |
|
7800 |
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Pranuthi M |
|
500 |
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Total |
|
300000 |
AS ON 28.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
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Promoters – [Individual/Hindu Undivided Family – Indian] |
74.63 |
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Public/Other than promoters – [Other top fifty shareholders ] |
25.37 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The
Company is an importer and distributor of agricultural and plantation
equipment’s with a wide network of dealers. [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
H.R. Suresh and Company Chartered Accountants |
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Address : |
No.B-4, 'B' Block, 1st Floor, Unity
Buildings, J C Road, Bangalore - 560002, Karnataka, India |
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Tel. No.: |
91-80-22238052 |
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E-mail: |
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PAN No.: |
AACFH0293E |
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Memberships No: |
019324 |
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Collaborators : |
Not Available |
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Company in which KMP / Relatives of KMP can exercise Significant
influences : |
·
Sunice AGN Equipment (India) Private Limited · Knightfield Engines Private Limited |
CAPITAL STRUCTURE
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
INR 100/- each |
INR 30.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
300000 |
Equity Shares |
INR 100/- each |
INR 30.000 Million |
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FINANCIAL DATA
[All figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
30.000 |
30.000 |
30.000 |
|
(b) Reserves &
Surplus |
113.886 |
128.901 |
118.523 |
|
(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) |
143.886 |
158.901 |
148.523 |
|
|
|
|
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|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
115.962 |
152.653 |
177.327 |
|
(b) Deferred tax
liabilities (Net) |
10.990 |
12.050 |
14.514 |
|
(c) Other long term
liabilities |
16.769 |
16.873 |
17.624 |
|
(d) long-term provisions |
2.966 |
2.593 |
1.462 |
|
Total Non-current
Liabilities (3) |
146.687 |
184.169 |
210.927 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
273.781 |
262.989 |
250.082 |
|
(b) Trade payables |
86.267 |
97.755 |
80.666 |
|
(c) Other current liabilities |
167.044 |
91.391 |
69.692 |
|
(d) Short-term provisions |
3.977 |
4.875 |
8.349 |
|
Total Current Liabilities
(4) |
531.069 |
457.010 |
408.789 |
|
|
|
|
|
|
TOTAL |
821.642 |
800.080 |
768.239 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
168.666 |
204.887 |
217.061 |
|
(ii) Intangible Assets |
1.120 |
1.228 |
0.316 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.928 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
2.576 |
2.026 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
11.827 |
11.418 |
2.025 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
10.542 |
|
Total Non-Current Assets |
184.189 |
219.559 |
230.872 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
333.128 |
330.200 |
343.441 |
|
(c) Trade receivables |
199.150 |
134.611 |
125.542 |
|
(d) Cash and cash
equivalents |
45.573 |
45.194 |
31.705 |
|
(e) Short-term loans and
advances |
59.602 |
70.516 |
36.679 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
637.453 |
580.521 |
537.367 |
|
|
|
|
|
|
TOTAL |
821.642 |
800.080 |
768.239 |
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
Income |
695.347 |
759.734 |
679.021 |
|
|
Other Income |
23.655 |
12.873 |
11.797 |
|
|
TOTAL |
719.002 |
772.607 |
690.818 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
542.349 |
563.682 |
435.006 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.928) |
13.241 |
76.572 |
|
|
Employees benefits
expense |
41.472 |
28.317 |
30.123 |
|
|
Exceptional item |
17.731 |
(0.062) |
0.000 |
|
|
Other expenses |
67.190 |
78.865 |
55.876 |
|
|
TOTAL |
665.814 |
684.043 |
597.577 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
53.188 |
88.564 |
93.241 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
47.687 |
51.609 |
59.074 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
5.501 |
36.955 |
34.167 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
6.894 |
13.475 |
19.291 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(1.393) |
23.480 |
14.876 |
|
|
|
|
|
|
|
Less |
TAX |
10.011 |
9.503 |
5.510 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(11.404) |
13.977 |
9.366 |
|
S |
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
CIF Value of Import |
388.067 |
386.256 |
253.613 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(38.01) |
46.59 |
31.22 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
85.054 |
43.927 |
36.690 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activities |
63.034 |
87.990 |
105.101 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
104.54 |
64.67 |
67.48 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
3.49 |
5.64 |
5.41 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
58.06 |
63.30 |
67.68 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.16 |
0.27 |
0.27 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.31 |
0.43 |
0.43 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.89 |
0.82 |
0.81 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
3.30 |
2.89 |
3.12 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.69 |
2.88 |
2.75 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.18 |
1.30 |
1.47 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.12 |
1.72 |
1.58 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
(1.64) |
1.84 |
1.38 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(1.39) |
1.75 |
1.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(7.93) |
8.80 |
6.31 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.20 |
1.27 |
1.31 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.57 |
0.55 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.18 |
0.20 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
15.83 |
15.32 |
15.47 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.20 |
1.27 |
1.31 |
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 |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
118.523 |
128.901 |
113.886 |
|
Net
worth |
148.523 |
158.901 |
143.886 |
|
|
|
|
|
|
Long Term borrowings |
177.327 |
152.653 |
115.962 |
|
Short Term borrowings |
250.082 |
262.989 |
273.781 |
|
Current Maturities of Long term debt |
36.690 |
43.927 |
85.054 |
|
Total
borrowings |
464.099 |
459.569 |
474.797 |
|
Debt/Equity
ratio |
3.125 |
2.892 |
3.300 |
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
|
679.021 |
759.734 |
695.347 |
|
|
|
11.887 |
(8.475) |
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
|
679.021 |
759.734 |
695.347 |
|
Profit |
9.366 |
13.977 |
(11.404) |
|
|
1.38% |
1.84% |
(1.64%) |
LEGAL
CASE
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 |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
No |
|
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 |
Yes |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORMATION:
Subject is a private company domiciled and headquartered in Bangalore.
It was originally incorporated on 04 December 1991 as Galaxy Antenna Systems
Private Limited. Subsequently, the name was changed to its present name w.e.f.
07 April 2000 and a fresh Certificate of incorporation was issued by the
Registrar of Companies, Karnataka on 13 April 2000. The Company is an importer and distributor of
agricultural and plantation equipment’s with a wide network of dealers across
India.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
115.059 |
102.650 |
|
ICICI Bank |
0.000 |
0.000 |
|
Total |
115.059 |
102.650 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G57765158 |
100128980 |
KOTAK MAHINDRA BANK LIMITED |
26/08/2017 |
- |
- |
90000000.0 |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
2 |
G73953309 |
90192343 |
CORPORATION BANK |
29/01/2001 |
18/12/2017 |
- |
420500000.0 |
No 30, 1st Floor, 2nd Cross, Rallaram Memorial Building, CSI Compound, Mission Road, Bangalore – 560027, Karnataka, India |
|
3 |
G50714930 |
100030312 |
The National Co-Operative Bank Limited |
06/05/2016 |
- |
31/07/2017 |
30000000.0 |
73/1,Gandhibazaar main Road, Bangalore – 560004, Karnataka, India |
|
4 |
G50714740 |
10496222 |
The National Co-Operative Bank Limited |
06/05/2014 |
- |
31/07/2017 |
60000000.0 |
73/1,Gandhibazaar main road, Bangalore – 560004, Karnataka, India |
|
5 |
G50714138 |
10252858 |
THE NATIONAL CO-OPERATIVE BANK LIMITED |
29/10/2010 |
- |
31/07/2017 |
65000000.0 |
NO.73/1,GANDHI BAZAR MAIN ROAD, BANGALORE – 560004, Karnataka, India |
|
6 |
G38156600 |
90191042 |
BANK OF BARODA |
10/02/1993 |
- |
21/02/2017 |
200500.0 |
FRASER TOWN BRANCH 48; MAIN ROAD, BANGALORE – 560005, Karnataka, India |
|
7 |
G38154605 |
90190939 |
BANK OF BARODA |
11/05/1992 |
- |
21/02/2017 |
100000.0 |
FRASER TOWN BRANCH, BANGALORE – 560005, Karnataka, India |
|
8 |
G32946709 |
10373080 |
THE NATIONAL CO-OPERATIVE BANK LIMITED |
21/07/2012 |
- |
20/12/2016 |
30000000.0 |
# 73/1GANDHI BAZAR MAIN ROAD, BANGALORE – 560004, Karnataka, India |
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Computer
·
Furniture and Fixture
·
Equipment
·
Vehicles
·
Wind Electric Generators
Intangible assets
- Software
- Trade Mark
- Goodwill
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 65.04 |
|
|
1 |
INR 90.56 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
PJP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.