|
|
|
MIRA INFORM REPORT
|
Report No. : |
498194 |
|
Report Date : |
20.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUMILON INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Vairagini Wadi, Delhi Gate,
Surat – 395003, Gujarat |
|
Tel. No.: |
91-261-2441122 / 2441155 / 2441166 / 2423586 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
27.06.1996 |
|
|
|
|
Com. Reg. No.: |
04-030056 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 140.898 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29199GJ1996PLC030056 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
5296001168 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AADCS3567L1Z2 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS3567L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, trader and exporter of Plain Polyester Film, Metallized and Lacqured Polyester Film and Badla (Imm Jari and Kasab) and Power Generation. [Registered activity and also confirmed by management] |
|
|
|
|
No. of Employees
: |
250 (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 3300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1996 and it
is having good track records. For the financial year 2017, the company has registered decrease in
its revenue from operation as compared to previous year and maintained
average profitability margin of 4.04%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and low debt balance sheet. Further, rating also derives strength from its extensive experience of
the promoters along with established track records of business operations in
the polyester yarn segment. These strengths are partially offset by vulnerability of margins to
foreign currency fluctuations as well as exposure to fluctuations in the raw
material prices and intense competition from industry. Trade relations are reported as fair. Business is active. Payments
terms are seems to be regular. In view of the 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 |
ICRA |
|
Rating |
Long Term Rating= BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
09.10.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating= A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
09.10.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 20.03.2018
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 PARTED BY
|
Name : |
Mr. Ketan Shah |
|
Designation : |
Import Export Head |
|
Contact No.: |
91-9879009741 |
|
Date : |
19.03.2018 |
LOCATIONS
|
Registered / Head Office : |
Vairagini Wadi, |
|
Tel. No.: |
91-261-2441122 / 2441155 / 2441166 / 2423586 |
|
Mobile No.: |
91-9879009741 (Mr. Ketan Shah) |
|
Fax No.: |
91-261-2442952 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Corporate Office: |
Hanuman Gali, Vairagi Wadi, Mahidharpura, Haripura, Surat – 395003,
Gujarat, India |
|
|
|
|
Factory 1: |
43/1 46/2, Village Varsana, |
|
|
|
|
Factory : |
Also Located at:
|
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Maheshchandra Sumanlal Jariwala |
||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||
|
Address : |
97, Adarsh Society, Athwalines, Surat – 395007, Gujarat, India |
||||||||||||||||
|
Date of Birth/Age : |
13.08.1961 |
||||||||||||||||
|
Date of Appointment : |
01.04.2010 |
||||||||||||||||
|
PAN No : |
ABWPJ1843M |
||||||||||||||||
|
DIN No.: |
01103754 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Alok Jitendra Jariwala |
||||||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||||||
|
Address : |
97, Adarsh Society, Athwalines, Surat – 395007, Gujarat, India |
||||||||||||||||
|
Date of Appointment : |
01.12.2015 |
||||||||||||||||
|
PAN No.: |
AHVPJ5921H |
||||||||||||||||
|
DIN No.: |
01981609 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Jignesh Maheshbhai Jariwala |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
97, Adarsh Society, Athwalines, Surat – 395007, Gujarat, India |
||||||||||||||||
|
Date of Appointment : |
30.03.2015 |
||||||||||||||||
|
PAN No.: |
AWDPB3082E |
||||||||||||||||
|
DIN No.: |
01401924 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Rajiv Shantiram Vyas |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
303, Sundar Nagar-2, Behind Lila Vihar Society, Tadwadi, Rander Road,
Surat – 395009, Gujarat, India |
||||||||||||||||
|
Date of Appointment : |
30.03.2015 |
||||||||||||||||
|
DIN No.: |
07141579 |
||||||||||||||||
|
DIN No.: |
|
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Arvindbhai Dahyabhai Pinangwala |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
86, Yogeshwar Park, Adajan, Surat – 395009, Gujarat, India |
||||||||||||||||
|
Date of Appointment : |
30.03.2016 |
||||||||||||||||
|
DIN No.: |
07457274 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Jignesh Maheshbhai Jariwala |
|
Designation : |
Chief Financial Officer |
|
Address : |
97, Adarsh Society, Athwalines, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
07.03.1986 |
|
Date of Appointment : |
01.07.2014 |
|
PAN : |
AFGPJ3017H |
|
|
|
|
Name : |
Mrs. Priya Lakhmichand Bhamwani |
|
Designation : |
Company Secretary |
|
Address : |
97, Adarsh Society, Athwalines, Surat – 395007, Gujarat, India |
|
Date of Appointment : |
04.01.2014 |
|
PAN No.: |
AWDPB3082E |
|
|
|
|
Name : |
Mr. Ketan Shah |
|
Designation : |
Import Export Head |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Mahesh Sumanlal Jariwala |
|
1375742 |
|
Jitendra Sumanlal Jariwala |
|
1298547 |
|
Bhagwatiben Sumanlal Jariwala |
|
1036883 |
|
Hansaben Mahesh Jariwala |
|
1273259 |
|
Daxaben Jitendra Jariwala |
|
1189179 |
|
Sumanlal Atmaram Jariwala HUF |
|
608132 |
|
Mahesh Sumnalal Jariwala HUF |
|
1317573 |
|
Jitendra Sumanlal Jariwal HUF |
|
1292809 |
|
Jignesh Maheshchandra Jariwala |
|
1265587 |
|
Alok Jitendra Jariwala |
|
1265016 |
|
Purvi Nikunj Jariwala |
|
1118715 |
|
Shivangi Jignesh Jariwala |
|
1048343 |
|
|
|
|
|
Total |
|
14089785 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
37.08 |
|
Public/Other than promoters
[Individual/Hindu Undivided Family (Indian)] |
62.92 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, trader and exporter of Plain Polyester Film, Metallized and Lacqured Polyester Film and Badla (Imm Jari and Kasab) and Power Generation. [Registered activity and also confirmed by management] |
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|
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|
Products / Services
: |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Brand Names : |
Not Available |
||||||||||||||||||
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|
|
||||||||||||||||||
|
Agencies Held : |
Not Available |
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Exports : |
|
||||||||||||||||||
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Products : |
|
||||||||||||||||||
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Countries : |
|
||||||||||||||||||
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|
||||||||||||||||||
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Imports : |
Not Divulged |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Terms : |
|
||||||||||||||||||
|
Selling : |
L/C, Cash, Advance Payment, Cheque and Online Transfer |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Purchasing : |
L/C, Cash, Advance Payment and Cheque |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers, End Users
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
SNK and Company Chartered Accountants |
|
Address : |
SNK House, 31-A,
Adarsh Society, Opposite Seventhday Advenest School, Athwalines, Surat –
395001, Gujarat, India |
|
PAN No.: |
AAJFS8455L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company : |
·
Sumilon Eco Pet SARL, Morocco |
|
|
|
|
Other Related Parties : |
· Vinayak Impex · Shree Vinayak Metallics · Riddhi Moulding Works · Siddhi Moulding Works · Shree Ganesh Textiles · Jitendrabhai Jariwala HUF · Vignaraj Corporation · Maheshbhai · Jariwala HUF · Ekdant Textiles · Shree Ganesh Exports ·
Sumilon Polyester Limited |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14089785 |
Equity Shares |
INR 10/- each |
INR 140.898 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
140.898 |
137.698 |
123.608 |
|
(b) Reserves & Surplus |
996.787 |
932.052 |
769.140 |
|
(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) |
1137.685 |
1069.750 |
892.748 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
532.740 |
323.093 |
260.471 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
9.954 |
|
(c) Other long term
liabilities |
66.079 |
48.633 |
47.678 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
598.819 |
371.726 |
318.103 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
308.174 |
252.921 |
239.510 |
|
(b) Trade
payables |
124.286 |
132.373 |
180.234 |
|
(c) Other
current liabilities |
555.710 |
394.675 |
435.448 |
|
(d) Short-term
provisions |
21.155 |
35.794 |
32.107 |
|
Total Current
Liabilities (4) |
1009.325 |
815.763 |
887.299 |
|
|
|
|
|
|
TOTAL |
2745.829 |
2257.239 |
2098.150 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
927.192 |
705.945 |
759.391 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
363.503 |
138.496 |
3.193 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
433.827 |
490.339 |
403.952 |
|
(c) Deferred tax assets (net) |
2.736 |
1.206 |
0.000 |
|
(d)
Long-term Loan and Advances |
23.471 |
15.562 |
15.213 |
|
(e) Other
Non-current assets |
40.542 |
4.478 |
4.358 |
|
Total Non-Current
Assets |
1791.271 |
1356.026 |
1186.107 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
415.789 |
362.648 |
334.442 |
|
(c) Trade
receivables |
276.520 |
232.954 |
198.055 |
|
(d) Cash
and cash equivalents |
8.681 |
34.746 |
13.194 |
|
(e) Short-term
loans and advances |
253.568 |
270.865 |
366.352 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
954.558 |
901.213 |
912.043 |
|
|
|
|
|
|
TOTAL |
2745.829 |
2257.239 |
2098.150 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1603.672 |
1833.810 |
1964.618 |
|
|
Other Income |
16.521 |
42.559 |
19.576 |
|
|
TOTAL |
1620.193 |
1876.369 |
1984.194 |
|
|
|
[Due to less orders
received] |
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
648.971 |
857.755 |
1094.534 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
111.549 |
8.146 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(9.876) |
(106.854) |
22.912 |
|
|
Employee benefit expense |
108.799 |
110.496 |
87.303 |
|
|
CSR expenditure |
2.046 |
0.000 |
0.000 |
|
|
Other expenses |
582.751 |
572.758 |
407.920 |
|
|
TOTAL |
1332.691 |
1545.712 |
1620.815 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
287.502 |
330.657 |
363.379 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
62.860 |
75.893 |
118.808 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
224.642 |
254.764 |
244.571 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
154.099 |
164.291 |
169.982 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
70.543 |
90.473 |
74.589 |
|
|
|
|
|
|
|
Less |
TAX |
5.807 |
13.538 |
15.071 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
64.736 |
76.935 |
59.518 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
4.59 |
6.21 |
4.91 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
165.152 |
99.785 |
138.237 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
255.483 |
202.693 |
128.881 |
|
Net cash flows from (used in) operating activities |
233.442 |
168.684 |
97.500 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
62.94 |
46.37 |
36.80 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.80 |
7.87 |
9.92 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
69.90 |
49.85 |
59.66 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.69 |
0.91 |
1.09 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.22 |
0.39 |
0.48 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.62 |
0.55 |
0.61 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.88 |
0.63 |
0.71 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.89 |
0.76 |
0.99 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.13 |
0.79 |
0.85 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.57 |
4.36 |
3.06 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
4.04 |
4.20 |
3.03 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.36 |
3.41 |
2.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.69 |
7.19 |
6.67 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.95 |
1.10 |
1.03 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.53 |
0.66 |
0.65 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.41 |
0.47 |
0.43 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
7.14 |
4.91 |
5.16 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.95 |
1.10 |
1.03 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
123.608 |
137.698 |
140.898 |
|
Reserves & Surplus |
769.140 |
932.052 |
996.787 |
|
Net
worth |
892.748 |
1069.750 |
1137.685 |
|
|
|
|
|
|
Long-term borrowings |
260.471 |
323.094 |
532.740 |
|
Short term borrowings |
239.510 |
252.921 |
308.174 |
|
Current maturities of
long-term debts |
138.237 |
99.785 |
165.152 |
|
Total
borrowings |
638.218 |
675.800 |
1006.066 |
|
Debt/Equity
ratio |
0.715 |
0.632 |
0.884 |
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 |
1964.618 |
1833.810 |
1603.672 |
|
|
|
(6.658) |
(12.550) |
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 |
1964.618 |
1833.810 |
1603.672 |
|
Profit/ (Loss) |
59.518 |
76.935 |
64.736 |
|
|
3.03
% |
4.20
% |
4.04
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
140.898 |
137.698 |
|
(b) Reserves and Surplus |
|
993.283 |
908.945 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
197.034 |
226.860 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1134.181 |
1046.643 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
822.810 |
584.527 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
220.073 |
236.338 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
1042.883 |
820.865 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
349.666 |
291.131 |
|
(b) Trade
payables |
|
160.774 |
152.213 |
|
(c) Other
current liabilities |
|
580.208 |
486.037 |
|
(d) Short-term
provisions |
|
24.419 |
39.300 |
|
Total Current
Liabilities (4) |
|
1115.067 |
968.681 |
|
|
|
|
|
|
TOTAL |
|
3489.165 |
3063.049 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1757.874 |
1569.455 |
|
(ii)
Intangible Assets |
|
23.911 |
25.996 |
|
(iii) Tangible assets
capital work-in-progress |
|
382.412 |
152.580 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
240.870 |
297.382 |
|
(c) Deferred tax assets (net) |
|
2.736 |
1.206 |
|
(d)
Long-term
loans and advances |
|
24.730 |
16.776 |
|
(e) Other
Non-current assets |
|
61.364 |
32.952 |
|
Total Non-Current
Assets |
|
2493.897 |
2096.347 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
443.258 |
399.879 |
|
(c) Trade receivables |
|
287.884 |
234.883 |
|
(d) Cash and bank
balances |
|
10.341 |
60.983 |
|
(e)
Short-term loans and advances |
|
253.785 |
270.957 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
995.268 |
966.702 |
|
|
|
|
|
|
TOTAL |
|
3489.165 |
3063.049 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
1892.475 |
1833.810 |
|
|
Other Income |
|
32.634 |
55.993 |
|
|
TOTAL |
|
1925.109 |
1889.803 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
789.997 |
856.547 |
|
|
Purchases of
Stock-in-Trade |
|
0.000 |
111.549 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(12.945) |
(121.608) |
|
|
Employee benefit expense |
|
148.735 |
118.691 |
|
|
CSR expenditure |
|
2.046 |
0.000 |
|
|
Other expenses |
|
723.263 |
603.919 |
|
|
Prior period items |
|
0.066 |
0.000 |
|
|
Extraordinary items |
|
0.000 |
0.008 |
|
|
TOTAL |
|
1651.162 |
1569.106 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
273.947 |
320.697 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
78.680 |
90.997 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
195.267 |
229.700 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
230.924 |
171.520 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(35.657) |
58.180 |
|
|
|
|
|
|
|
Less |
TAX |
|
5.807 |
13.538 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(41.464) |
44.642 |
|
|
|
|
|
|
|
Less/ Add |
PROFIT
(LOSS) OF MINORITY INTEREST |
|
31.860 |
9.688 |
|
|
|
|
|
|
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD |
|
(9.604) |
54.330 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(0.68) |
4.38 |
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 |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
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% |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G55025241 |
10620702 |
BANK OF BARODA |
16/02/2016 |
12/09/2017 |
- |
1616700000.0 |
SUFI BAUG BRANCH, SHRAMJIVI SEVALAYA,NEAR ALANKAR CINEMA, OPP. RAILWAY STATION, SURAT GJ394125IN |
|
2 |
C58413162 |
10578908 |
HDFC BANK LIMITED |
07/05/2015 |
- |
- |
4762500.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL W MUMBAI MH400013IN |
|
3 |
C18960898 |
10462034 |
BANK OF BARODA |
01/11/2013 |
27/08/2014 |
- |
2324800000.0 |
SUFIBAUG BRANCH, SHRAMJIVI SEVALAYA, NEAR ALANKAR CINEMA, OPP. RAILWAY STATION,SURATGJ395003IN |
|
4 |
G55026140 |
10248531 |
BANK OF BARODA |
29/09/2010 |
12/09/2017 |
- |
1616700000.0 |
SUFIBAUG BRANCH, SHRAMJIVI SEVALAYA, NEAR ALANKAR CINEMA, OPP. RAILWAY STATION, SURAT GJ394230IN |
|
5 |
G55026769 |
90096841 |
BANK OF BARODA |
28/06/2003 |
12/09/2017 |
- |
1616700000.0 |
SUFIBAUG BRANCH, SHRAMJIVI SEVALAYA, NEAR ALANKAR CINEMA, OPP. RAILWAY STATION, SURAT GJ370001IN |
|
6 |
G55024871 |
90096494 |
BANK OF BARODA |
15/11/1997 |
12/09/2017 |
- |
1616700000.0 |
SUFIBAUG BRANCH, SHRAMJIVI SEVALAYA, NEAR ALANKAR CINEMA, OPP. RAILWAY STATION,SURATGJ394110IN |
|
7 |
Y10188343 |
90098651 |
BANK OF BARODA |
03/09/1997 |
09/05/2005 |
- |
11500000.0 |
SUFI BAUG BRANCH SURAT GJIN |
|
8 |
G55024301 |
90096479 |
BANK OF BARODA |
03/09/1997 |
12/09/2017 |
- |
1616700000.0 |
SUFIBAUG BRANCH, SHRAMJIVI SEVALAYA, NEAR ALANKAR CINEMA, OPP. RAILWAY STATION, SURAT GJ395003IN |
|
9 |
G77857746 |
10584080 |
KOTAK MAHINDRA BANK LIMITED |
29/01/2015 |
02/09/2015 |
29/01/2018 |
2500000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E), MUMBAI MH400051IN |
|
10 |
G70442496 |
100114935 |
BANK OF BARODA |
28/07/2017 |
- |
20/11/2017 |
40000000.0 |
SUFI BAUG BRANCH, SHRAMJIVI SEVALAYA, NEAR ALANKAR CINEMA, OPP. RAILWAY STATION, SURAT GJ395003IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.04 |
|
|
1 |
INR 90.56 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Information Gathered
by : |
SHR |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--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.