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|
|
MIRA INFORM REPORT
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Report No. : |
498674 |
|
Report Date : |
21.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
GANNON DUNKERLEY AND COMPANY LIMITED |
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|
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|
Registered
Office : |
New |
|
Mobile No.: |
91-22-40011920 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
11.03.1924 |
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Com. Reg. No.: |
11-001107 |
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Capital Investment
/ Paid-up Capital : |
INR 26.880 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U51109MH1924PLC001107 |
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IEC No.: [Import-Export Code No.] |
0389013200 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACG1846P |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is
engaged into construction activity and development infrastructure such as
Roads, Bridge, Flyover etc. (Registered Activity and also Confirmed by
management) |
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No. of Employees
: |
Information declined 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 |
|
Status : |
Good |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1924. The Morarka group of
companies and Gannon Dunkerley Holding Private Limited hold 76.01% and
22.96%, respectively, in the equity share capital of the company. It is engaged in Construction Activity and Development Infrastructure
such as Roads, Bridge and Fylover. Management has failed to file its financials with Registrar of
Companies for the FY 2017. For the financial year 2016, the revenue of the company has increased
by 9.61%along with average profit margin of 1.44%. The sound financial profile of the company is marked by strong
networth base along with comfortable debt coverage indicators. However, these rating strengths are partially offset by unfavourable
gap between trade payables and trade receivables, highly competitive
construction industry and absence of latest financials. Trade relations are fair. Business is active. Payment seems to be slow
but correct. In view of aforesaid, the company can be considered for business
dealings with 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long-term Bank Facilities= BBB+ (Withdrawn) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
03.02.2017 |
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|
|
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Rating Agency Name |
CARE |
|
Rating |
Short-term Bank Facilities=A2 (Withdrawn) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
03.02.2017 |
Reason for withdrawn : Received no objection certificate from bank.
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 21.03.2018
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. Manish |
|
Designation : |
Sales Department |
|
Contact No.: |
91-22-22051231 |
|
Date : |
20.03.2018 |
LOCATIONS
|
Registered Office / Marketing Office : |
New |
|
Tel. No.: |
91-22-22051231/ 40011920 |
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Fax No.: |
91-22-22051232 |
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E-Mail : |
|
|
Website : |
|
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Location : |
Owned |
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Locality: |
Commercial |
|
|
|
|
North Zone Offices /Water Treatment Division : |
Water Treatment
Division B -228, Okhla Industrial Area, Phase I, New Delhi-110020, India |
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Tel. No.: |
91-11-40589700 |
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Fax No.: |
91-11-42785612 |
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E-Mail : |
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South Zone Offices : |
HYDERABAD
Tel: 91-40 - 44456600 – 49 (50 Lines) Fax: 91-40
- 44456650 and 51 E-mail: hyderabadced@gdcl.in /gannonhyderabad@gmail.com
GDC House, 94, 3rd Street, Tatabad, Coimbatore - 641 012,
Tamilnadu, India Tel: 91-422
- 2495846 Fax: 91-422
- 2495846 E-mail: coimbatore@gdcl.in/coimbatore@gdcl.in
Plot No. 1, M. k. Susheela’s Towers (2nd Floor), Jawaharlal Nehru Salai, U. R. Nagar
Extn., Anna Nagar West, Chennai
- 600 101, Tamilnadu, India Tel: 91-44
- 26154931 Fax: 91-44 – 26154931 Email: chennaioffice@gdcl.in |
|
|
|
|
East Zone Offices : |
KOLKATA 86 A, Topsia Road (South) Haute Street, 7th Floor,
Kolkata – 700046, West Bengal,
India Tel: 91
- 33 - 30419700/01 Fax: 91
- 33 - 30419705 E-mail: kolkataced@gdcl.in /gannonkolkata@gmail.com
Handling Division Flat No. N-1(Ist Floor), 16-A / 1, Earle Street, Kolkata - 700 026,
West Bengal, India Tel: 91-33
- 24863345 / 24863355 / 24863405 Fax: 91-33
- 24863345 E-mail: gdmthd@gdcl.in/gdcmhd@yahoo.co.in
Gannon Dunkerly and Company, Limited Sleeper Factory, Post Box No. 16, District and P.O. Rayagada , Orissa – 765 001, India Tel/Fax: 91-6856 – 225684 Email: rsf@gdcl.in |
|
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West Zone Offices : |
MUMBAI A-501 and 502 Business Square, 151, Andheri - Kurla Road, Chakala, Andheri (East), Mumbai - 400 093, Maharashtra, India Tel: 91-22
– 40011920 Fax: 91-22
– 40011923 E-mail: mumbaiced@gdcl.in /gannonmumbai@gmail.com A-501, Business Square, 151, Andheri - Kurla Road, Chakala, Andheri (East), Mumbai - 400 093, Maharashtra, India Tel: 91-22
– 40011920 Fax: 91-22
– 40011923 E-mail: edoffice@gdcl.in /gannonmumbai@gmail.com 301-303, Prerna Arcade (3rd Floor), Opposite Doctor House, Near Parimal Crossing C. G. Road, Ahmedabad-380 006, Gujarat, India Tel: 91-79
- 40004747 Fax: 91-79
- 26464215 E-mail: ahmedabad@gdcl.in /gannonad@gmail.com |
|
|
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Overseas Offices : |
Located At
|
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Kartik Jayantilal Rawal |
|
Designation : |
Managing Director |
|
Address : |
401, Mayfair Sweet Heaven, Near Rasraj Hotel, Plot No 15, K.D. Road, Ville Parle (West), Mumbai-400056, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1963 |
|
Date of Appointment : |
10.07.2013 |
|
DIN No.: |
00436076 |
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PAN No.: |
AAYPR0102N |
|
|
|
|
Name : |
Mr. Hiralal Pandey |
|
Designation : |
Whole-Time Director |
|
Address : |
Flat No. 51, Kalpataru Harmony, Off. Sion Circle, Adj. Sion Telephone Exchange, Road No. 29, Sion (East), Mumbai-400022, Maharashtra, India |
|
Date of Birth/Age : |
10.11.1943 |
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Qualification: |
Graduate |
|
Date of Appointment : |
20.07.2011 |
|
DIN No.: |
00460195 |
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PAN No.: |
AACPP9737B |
|
|
|
|
Name : |
Mr. Kamal Mahavirprasad Morarka |
|
Designation : |
Director |
|
Address : |
24-B, Carmichael Road, Mumbai -400 026, Maharashtra,
India |
|
Date of Birth/Age : |
18.06.1946 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
19.05.1997 |
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DIN No.: |
00460013 |
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PAN No.: |
AADPM7443A |
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|
|
|
Name : |
Mr. Parag Chandulal Mehta |
|
Designation : |
Director |
|
Address : |
Flat No. 23, 7th Floor, Neelkanth Apartments, Worli Hill
Estate, Worli, Mumbai - 400 018,
Maharashtra, India |
|
Date of Birth/Age : |
15.08.1961 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
22.12.2005 |
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DIN No.: |
00172972 |
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PAN No.: |
AAGPM4737J |
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|
|
|
Name : |
Ravinder Kumar Manchanda |
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Designation : |
Director |
|
Address : |
D-281, G/F Defence Colony, New Delhi – 110024, Delhi, India |
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Date of Birth/Age : |
22.09.1950 |
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Qualification: |
Graduate |
|
Date of Appointment : |
11.12.2008 |
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DIN No.: |
01801659 |
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|
|
|
Name : |
Mr. Vijay Goverdhandas Kalantri |
|
Designation : |
Director |
|
Address : |
2, Wahedna Apartment, Ground Floor, 75, Hill Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Appointment : |
11.12.2008 |
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DIN No.: |
00019510 |
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|
|
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Name : |
Mr. Kimaya Chirag Sancheti |
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Designation : |
Additional Director |
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Address : |
Anurag 108/38, Bharat Niwas Society, Prabhat Road, Pune – 411004, Maharashtra, India |
|
Date of Appointment : |
31.01.2018 |
|
DIN No.: |
08064107 |
KEY EXECUTIVES
|
Name : |
Mr. |
|
Designation : |
Company Secretary |
|
Address : |
B.701, Imperial Heights, Best Colony, Goregaon (West) Mumbai - 400104,
Maharashtra, India |
|
Date of Birth/Age : |
03.11.1969 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
16.04.2007 |
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PAN No.: |
ACGPA1554M |
|
|
|
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Name : |
V. N Deodhar and Company |
|
Designation : |
Company Secretaries |
|
Address : |
4/3, ‘Radha’, 1st Floor, Shastri Hall, Grant Road (West),
Mumbai – 400007, Maharashtra, India |
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Tel No.: |
91-22-23850364 |
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Fax no.: |
91-22-23861708 |
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Email: |
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|
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|
Name : |
Mr. Manish |
|
Designation : |
Sales Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2016
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided Family- Indian] |
11.60 |
|
Promoters [Body corporate] |
87.65 |
|
Public/Other than promoters [Individual/Hindu Undivided Family- Indian] |
0.74 |
|
Public/Other than promoters [Banks] |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged into construction activity and development infrastructure such as Roads,
Bridge, Flyover etc. (Registered Activity and also Confirmed by management) |
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Products : |
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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 |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Sanghavi and Company Chartered Accountants |
|
Address : |
Bulbul, 1st Floor, Crescent Road, Bhavnagar - 364001, Gujarat, India |
|
PAN No.: |
AAFDA2322D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries: (As on 31.03.2016) |
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Step Down
Subsidiary: (As on 31.03.2016) |
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Associate
Companies: (As on 31.03.2016) |
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Joint Venture
Companies: (As on 31.03.2016) |
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CAPITAL STRUCTURE
As on 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
INR 10/- each |
INR 180.000 Million |
|
200000 |
Preference Shares |
INR 100/- each |
INR 20.000 Million |
|
|
|
|
INR 200.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2688000 |
Equity Shares |
INR 10/- each |
INR 26.880 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
26.880 |
26.880 |
26.880 |
|
(b) Reserves &
Surplus |
6602.595 |
6437.802 |
5923.353 |
|
(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) |
6629.475 |
6464.682 |
5950.233 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1749.697 |
953.159 |
330.382 |
|
(b) Deferred tax
liabilities (Net) |
1183.400 |
1063.400 |
1009.900 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
101.065 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2933.097 |
2016.559 |
1441.347 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5608.346 |
6237.148 |
6676.252 |
|
(b) Trade payables |
6369.659 |
5055.139 |
4424.715 |
|
(c) Other current
liabilities |
7440.209 |
6770.414 |
7769.963 |
|
(d) Short-term provisions |
179.360 |
97.306 |
266.014 |
|
Total Current Liabilities
(4) |
19597.574 |
18160.007 |
19136.944 |
|
|
|
|
|
|
TOTAL |
29160.146 |
26641.248 |
26528.524 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1921.079 |
2151.091 |
2450.480 |
|
(ii) Intangible Assets |
1.207 |
1.562 |
2.372 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
78.537 |
|
(iv) Intangible assets
under development or work-in-progress |
90.686 |
77.387 |
56.123 |
|
(b) Non-current
Investments |
416.319 |
416.419 |
416.419 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3391.043 |
3251.882 |
2962.323 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
5820.334 |
5898.341 |
5966.254 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
14354.221 |
12945.394 |
12484.725 |
|
(c) Trade receivables |
5.931 |
11.049 |
7.949 |
|
(d) Cash and cash
equivalents |
2182.116 |
1846.771 |
2112.271 |
|
(e) Short-term loans and
advances |
6797.544 |
5939.693 |
5789.465 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
23339.812 |
20742.907 |
20394.410 |
|
|
|
|
|
|
TOTAL |
29160.146 |
26641.248 |
26360.664 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
23278.872 |
21237.185 |
18881.237 |
|
|
Other Income |
89.280 |
381.697 |
351.362 |
|
|
TOTAL |
23368.152 |
21618.882 |
19232.599 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
103.382 |
88.095 |
44.143 |
|
|
Purchases of
Stock-in-Trade |
2.924 |
9.875 |
0.74 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1332.875) |
(420.171) |
(1010.932) |
|
|
Employees benefits
expense |
1762.590 |
1637.327 |
1511.038 |
|
|
CSR Expenses |
22.695 |
21.806 |
0.000 |
|
|
Other expenses |
20820.758 |
18085.647 |
16431.799 |
|
|
TOTAL |
21379.474 |
19422.579 |
16976.788 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1988.678 |
2196.303 |
2255.811 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1035.414 |
999.313 |
936.881 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
953.264 |
1196.990 |
1318.930 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
361.953 |
457.819 |
408.361 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
591.311 |
739.171 |
910.569 |
|
|
|
|
|
|
|
Less |
TAX |
256.236 |
258.663 |
372.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
335.075 |
480.508 |
538.069 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
80.640 |
26.880 |
161.280 |
|
|
Dividend |
16.416 |
5.472 |
27.410 |
|
|
Tax on Dividend |
250.000 |
357.383 |
400.000 |
|
|
Total |
347.056 |
389.735 |
588.690 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
124.66 |
178.76 |
200.17 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
629.160 |
379.732 |
533.130 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
864.627 |
(112.032) |
(286.839) |
|
Net Cash flows from operating activities |
1349.812 |
485.239 |
611.933 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
0.09 |
0.19 |
0.15 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
3924.95 |
1922.09 |
2375.30 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
21870.13 |
18833.58 |
35982.91 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.14 |
0.17 |
0.18 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.99 |
0.98 |
0.87 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.75 |
0.73 |
0.76 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.20 |
1.17 |
1.27 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.96 |
2.81 |
3.22 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.30 |
0.34 |
0.43 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.92 |
2.20 |
2.41 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
1.44 |
2.26 |
2.85 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.15 |
1.80 |
2.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.05 |
7.43 |
9.04 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.19 |
1.14 |
1.07 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.46 |
0.43 |
0.41 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.23 |
0.24 |
0.23 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
297.14 |
281.62 |
280.50 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.19 |
1.14 |
1.07 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR In Million) |
(INR In Million) |
(INR In Million) |
|
Share Capital |
26.880 |
26.880 |
26.880 |
|
Reserves & Surplus |
5923.353 |
6437.802 |
6602.595 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
5950.233 |
6464.682 |
6629.475 |
|
|
|
|
|
|
Long-term borrowings |
330.382 |
953.159 |
1749.697 |
|
Short term borrowings |
6676.252 |
6237.148 |
5608.346 |
|
Current Maturities of
Long term debt |
533.130 |
379.732 |
629.160 |
|
Total borrowings |
7539.764 |
7570.039 |
7987.203 |
|
Debt/Equity ratio |
1.267 |
1.171 |
1.205 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR In Million) |
(INR In Million) |
(INR In Million) |
|
Sales |
18881.237 |
21237.185 |
23278.872 |
|
|
|
12.478 |
9.614 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR In Million) |
(INR In Million) |
(INR In Million) |
|
Sales |
18881.237 |
21237.185 |
23278.872 |
|
Profit/ (Loss) |
538.069 |
480.508 |
335.075 |
|
|
2.85% |
2.26% |
1.44% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
26.880 |
26.880 |
|
(b) Reserves &
Surplus |
|
5870.567 |
5735.361 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Minority Interest |
|
(5.301) |
(11.141) |
|
(3) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
5892.146 |
5751.100 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1786.882 |
1003.609 |
|
(b) Deferred tax
liabilities (Net) |
|
1183.400 |
1063.400 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
2970.282 |
2067.009 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
5659.053 |
6323.029 |
|
(b) Trade payables |
|
6466.108 |
5220.324 |
|
(c) Other current
liabilities |
|
8047.503 |
7289.693 |
|
(d) Short-term provisions |
|
179.360 |
97.306 |
|
Total Current Liabilities
(4) |
|
20352.024 |
18930.352 |
|
|
|
|
|
|
TOTAL |
|
29214.452 |
26748.461 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2014.382 |
2246.365 |
|
(ii) Intangible Assets |
|
1.207 |
1.562 |
|
(iii) Capital
work-in-progress |
|
476.307 |
468.189 |
|
(iv) Intangible assets
under development |
|
90.686 |
77.387 |
|
(b) Non-current
Investments |
|
401.756 |
369.391 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1405.267 |
1644.803 |
|
(e) Other Non-current
assets |
|
33.399 |
33.399 |
|
Total Non-Current Assets |
|
4423.004 |
4841.096 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
15034.599 |
13402.300 |
|
(c) Trade receivables |
|
272.094 |
275.263 |
|
(d) Cash and cash
equivalents |
|
2383.253 |
2036.145 |
|
(e) Short-term loans and
advances |
|
7101.502 |
6193.657 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
24791.448 |
21907.365 |
|
|
|
|
|
|
TOTAL |
|
29214.452 |
26748.461 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
23278.898 |
21237.185 |
|
|
Other Income |
|
93.115 |
393.451 |
|
|
TOTAL |
|
23372.013 |
21630.636 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
103.382 |
88.095 |
|
|
Purchases of Stock-in-Trade |
|
2.924 |
9.875 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(1367.896) |
(494.664) |
|
|
Employees benefits
expense |
|
1773.678 |
1647.120 |
|
|
CSR Expenses |
|
22.695 |
21.806 |
|
|
Other expenses |
|
20865.057 |
18181.520 |
|
|
TOTAL |
|
21399.840 |
19453.752 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
1972.173 |
2176.884 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
1035.416 |
999.313 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
936.757 |
1177.571 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
363.976 |
460.211 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
572.781 |
717.360 |
|
|
|
|
|
|
|
Add |
Profit (loss) of minority interest |
|
0.342 |
0.735 |
|
|
|
|
|
|
|
Less |
TAX |
|
256.236 |
258.663 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
|
316.887 |
459.432 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
117.89 |
170.92 |
LEGAL
CASES
|
Bench:- Bombay |
|||||||
|
Presentation Date:- ITXAL/1312/2017 |
|||||||
|
Lodging No. : |
ITXAL/1312/2017 |
Failing Date:- |
24/05/2017 |
Reg. No.:- |
ITXA/598/2018 |
Reg. Date:- |
|
|
Petitioner:- |
PR. COMMISSIONER OF INCOME TAX, CENTRAL-3 |
Respondent:- |
GANNON AND DUNKERLEY COMPANY LIMITED |
||||
|
Petn.Adv:- |
PADMA DIVAKAR (I3287) |
Resp. Adv.: |
MAHESH JANI AND CO (I3882) |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
||||
|
Status:- |
Pre-Admission |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
||||
|
Last Date:- |
06/03/2018 |
||||||
|
Last Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
||||||
|
|
|
||||||
|
Act. : |
Income Tax Act,1961 |
Under Section 260A |
|||||
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
no |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
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 |
No |
|
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 |
Yes |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF OPERATIONS:
(As on 31.03.2016)
Procurement of jobs has been robust and majority being from the
Government Sector. Capex cycle in the Private Sector has still not gathered
momentum. Execution of jobs has been better than previous year resulting in a
marginal increase in turnover. Profitability however remains under pressure due
to intense competition especially in the Government jobs.
There is no significant development in the Company’s Housing Project in
Libya. The present law and order situation in Libya is not conducive for
business operations. The Company is making efforts to amicably settle and close
the contract with ODAC.
UNSECURED LOAN
|
Particulars |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Term loans from banks |
0.000 |
200.000 |
|
Deposits from directors |
34.706 |
84.732 |
|
Total |
34.706 |
284.732 |
INDEX OF CAHREGS:
|
Charges Registered |
||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Amount |
Address |
|
1 |
G73808206 |
100147361 |
Axis Bank Limited |
01/01/2018 |
3292200.0 |
"Trishul', 3rd Floor, Opp to Samartheshwar Temple Law Garden, Ellis Bridge Ahmedabad GUJARAT 380006 INDIA |
|
2 |
G76186063 |
100152816 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
30/12/2017 |
48879130.0 |
One Forbes, Dr. V. B. Gandhi Marg, Fort Mumbai MAHARASHTRA 400001 INDIA |
|
3 |
G76189059 |
100152820 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
30/12/2017 |
27115250.0 |
One Forbes,Dr. V. B. Gandhi Marg, Fort Mumbai MAHARASHTRA 400001 INDIA |
|
4 |
G73339319 |
100146272 |
Axis Bank Limited |
18/12/2017 |
36797432.0 |
"Trishul', 3rd Floor, Opp to Samartheshwar Temple Law Garden, Ellis Bridge Ahmedabad GUJARAT 380006 INDIA |
|
5 |
G73339509 |
100146275 |
Axis Bank Limited |
18/12/2017 |
3510500.0 |
"Trishul', 3rd Floor, Opp to Samartheshwar Temple Law Garden, Ellis Bridge Ahmedabad GUJARAT 380006 INDIA |
|
6 |
G70401427 |
100140469 |
KOTAK MAHINDRA BANK LIMITED |
07/12/2017 |
18197535.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (EAST), Mumbai MAHARASHTRA 400051 INDIA |
|
7 |
G66453531 |
100136061 |
UCO Bank |
18/11/2017 |
1100000000.0 |
Mafatlal Cenre, 1st Floor, Nariman Point Mumbai MAHARASHTRA 400001 INDIA |
|
8 |
G78118601 |
100157397 |
SREI EQUIPMENT FINANCE LIMITED |
15/11/2017 |
9250020.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA WEST BENGAL 700046 INDIA |
|
9 |
G76190263 |
100152822 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
30/10/2017 |
3500000.0 |
One Forbes, Dr. V. B. Gandhi Marg, Fort Mumbai MAHARASHTRA 400001 INDIA |
|
10 |
G69409001 |
100138711 |
SREI EQUIPMENT FINANCE LIMITED |
15/09/2017 |
25500004.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA WEST BENGAL 700046 INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
For indemnity and guarantee by Banks against contracts |
19624.241 |
17150.290 |
|
For inland letter of credits |
268.862 |
370.510 |
|
Against demand raised by Sales Tax Authorities (Appeals are preferred against the said demands) |
21.002 |
37.775 |
|
Guarantees given by the Company in respect of facilities sanctioned by the Bank to other Company |
1080.000 |
1080.000 |
|
In respect of disputed Income-Tax liabilities under appeal |
6.009 |
6.009 |
|
Excise and Sales Tax matters |
165.724 |
89.311 |
|
Guarantees given by the Company for projects |
12.966 |
12.966 |
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
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 65.19 |
|
|
1 |
INR 91.49 |
|
Euro |
1 |
INR 80.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
SUD |
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 |
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.