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|
MIRA INFORM REPORT
|
Report No. : |
499277 |
|
Report Date : |
21.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SULPHUR MILLS LIMITED |
|
|
|
|
Registered
Office : |
604/605, 6th Floor, 349 Business Point, Western Express Highway,
Andheri (East), Mumbai – 400069, Maharashtra |
|
Tel. No.: |
91-22-66772551/ 43452222 |
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|
|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2016 |
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|
|
|
Date of
Incorporation : |
08.07.1960 |
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|
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Com. Reg. No.: |
11-011752 |
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Capital
Investment / Paid-up Capital : |
INR 1.760 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1960PLC011752 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
|
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TIN No.: |
27750293300 |
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|
|
PAN No.: [Permanent Account No.] |
AABCS8736K |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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|
GSTN : [Goods & Service Tax
Registration No.] |
27AABCS8736K1ZV |
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|
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing of Agro Chemicals/ Products. (Registered Activity) |
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|
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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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1960 and is a manufacturer of agro chemicals and products.
|
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 |
CRISIL |
|
Rating |
Long term borrowing : AA- |
|
Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
17.01.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term borrowing : A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
17.01.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 21.03.2018
INFORMATION DENIED BY
|
Name : |
Ms. Ravina |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-43452222 |
|
Date : |
21.03.2018 |
Management non-cooperative (Tel No.: 91-22-66772551)
(Tel No.: - 91-22-24932026/
24937685 - Continuously
Ringing)
LOCATIONS
|
Registered Office : |
604/605, 6th Floor, 349 Business Point, Western Express
Highway, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
91-22-66772551/ 43452222 |
|
Fax No.: |
91-22-43452245 |
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E-Mail : |
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|
Website : |
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Head Office: |
404/405, 604/605, 349 Business Point, Western Express Highway, Andheri (East),
Mumbai – 400069, Maharashtra, India |
|
|
|
|
Factory 1 : |
GIDC Panoli, District Bharuch, Gujarat, India |
|
|
|
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Factory 2 : |
MIDC, Plot No. 8, Turbhe Naka, Thane – Belapur Road, Navi Mumbai – 400025, Maharashtra, India |
|
Tel. No.: |
91-22-24932026/ 24937685/ 24938936 |
|
Fax No.: |
91-22-24939586 |
|
|
|
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Branch Office 1 : |
309, Meghdoot, Nehru Place, New Delhi – 110019, India |
|
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Branch Office 2 : |
1/8/144, Prenderghast Road, P.B. No. 2009, Secunderabad – 500003, Telangana, India |
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Branch Office 3 : |
541, N.S.R. Road, Saibaba Colony, Coimbatore – 641011, Tamilnadu, India |
DIRECTORS
As on 2017
|
Name : |
Mr. Deepak Pranjivandas Shah |
|
Designation : |
Managing Director |
|
Address : |
501/502, Vandana Apartments, Janki Kutir, Juhu Vile Parle (East),
Mumbai - 400049, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1947 |
|
Qualifications : |
B.S. (Mech.
Engg.), USA |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AMYPS5101N |
|
DIN No.: |
00864335 |
|
|
|
|
Name : |
Mr. Suketu Chandrakant Doshi |
|
Designation : |
Whole-time director |
|
Address : |
Sneha Kutir, 5th Floor, Peddar Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
29.11.1957 |
|
Qualifications : |
B. Pharma |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AJSPD4877H |
|
DIN No.: |
00639815 |
|
|
|
|
Name : |
Bimal Deepak Shah |
|
Designation : |
Whole-time director |
|
Address : |
501/502, Vandana Apartments, Janki Kutir, Juhu Vile Parle (West),
Mumbai - 400049, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1979 |
|
Qualifications : |
B.S.(Chemistry,
Agriculture) USA,M.S(Plant/Soil Science) USA |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AELPS3417A |
|
DIN No.: |
00506415 |
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|
|
|
Name : |
Mr. Binoy Shailesh Shah |
|
Designation : |
Whole-time director |
|
Address : |
Shanti Kutir, 1st Floor, Next to Citizen Hotel, Juhu Beach, Mumbai -
400049, Maharashtra, India |
|
Date of Birth/Age : |
21.03.1969 |
|
Qualifications : |
B.E(Electronics)
USA, MBA-Agri Finance |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AELPS3417A |
|
DIN No.: |
00679812 |
|
|
|
|
Name : |
Mrs. Shilpa Deepak Shah |
|
Designation : |
Whole-time director |
|
Address : |
501, Vandana Apartments, Janaki Kutir, Juhu, Mumbai - 400049,
Maharashtra, India |
|
Date of Birth/Age : |
30.11.1947 |
|
Qualifications : |
M.A.(Economics)
USA |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AAEPS3917L |
|
DIN No.: |
00639833 |
|
|
|
|
Name : |
Mrs. Komal Niraj Deepak Bhukhanwala |
|
Designation : |
Director |
|
Address : |
Plot- 13, Road No- 4th Ratna Bunglow, Jvpd Scheme, Juhu Mumbai 400049 |
|
Date of Birth/Age : |
17.06.1977 |
|
Date of Appointment : |
01.03.2013 |
|
DIN No.: |
01619650 |
|
|
|
|
Name : |
Mr. Sunil Sureshchandra Sheth |
|
Designation : |
Director |
|
Address : |
601, Leela Apartment, 355, S.V. Road, Vile Parle (West), Mumbai - 400056, Maharashtra, India |
|
Date of Appointment : |
14.03.2015 |
|
DIN No.: |
00024033 |
|
|
|
|
Name : |
Mr. Parthiv Chandulal Shah |
|
Designation : |
Director |
|
Address : |
B-201, Amarkruti Apartment B, Tithal Road, Valsad-396001, Gujarat, India |
|
Date of Appointment : |
22.08.2016 |
|
DIN No.: |
06851010 |
KEY
EXECUTIVE
|
Name : |
Ms. Ravina |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 22.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
35.08 |
|
Public/Other than promoters (Individual/Hindu Undivided Family-Indian) |
64.92 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of Agro Chemicals/ Products. (Registered Activity) |
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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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Auditors : |
|
|
Name : |
B.D. Jokhakar and Company Chartered Accountants |
|
Address : |
Raja Bahadur Mansion, 8, Ambalal Doshi Marg, Fort, Mumbai
– 400001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFB1729J |
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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Subsidiary company
(As on 2017) : |
· SM Cropcare Guatemala Public Limited Company · Sulphur Chemical Mills (Pty) Limited |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives (As on 2016) : |
· Deepak Pranjivandas Shah (HUF) · SM Crop Care Bio-Tech Private Limited · SM Holdings Private Limited · Sumil Chemical Industries Private Limited |
CAPITAL STRUCTURE
As on 22.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39000000 |
Equity Shares |
INR 10/- each |
INR 390.000 Million |
|
100000 |
Preference Shares |
INR 100/- each |
INR 10.000 Million |
|
|
Total |
|
INR 400.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
176005 |
Equity Shares |
INR 10/- each |
INR 1.760
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.760 |
1.760 |
1.760 |
|
(b) Reserves and Surplus |
2751.816 |
2137.314 |
1949.152 |
|
(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) |
2753.576 |
2139.074 |
1950.912 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
45.512 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
55.359 |
49.406 |
0.000 |
|
(d) long-term
provisions |
2.454 |
1.325 |
0.912 |
|
Total Non-current
Liabilities (3) |
57.813 |
50.731 |
46.424 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1090.665 |
1276.547 |
1045.637 |
|
(c) Other current
liabilities |
228.324 |
285.772 |
289.845 |
|
(d) Short-term
provisions |
295.679 |
85.785 |
309.826 |
|
Total Current
Liabilities (4) |
1614.668 |
1648.104 |
1645.308 |
|
|
|
|
|
|
TOTAL |
4426.057 |
3837.909 |
3642.644 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
427.119 |
383.252 |
374.695 |
|
(ii) Intangible Assets |
238.522 |
194.667 |
131.163 |
|
(iii) Tangible assets capital work-in-progress |
49.644 |
17.590 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
326.708 |
263.000 |
244.118 |
|
(c) Deferred tax assets (net) |
17.452 |
12.038 |
12.300 |
|
(d) Long-term loans and advances |
122.312 |
205.462 |
139.888 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1181.757 |
1076.009 |
902.164 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
683.167 |
1018.509 |
800.056 |
|
(c) Trade receivables |
1329.168 |
942.993 |
976.910 |
|
(d) Cash and bank balances |
1011.641 |
568.116 |
826.550 |
|
(e) Short-term loans and advances |
220.324 |
232.282 |
136.964 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
3244.300 |
2761.900 |
2740.480 |
|
|
|
|
|
|
TOTAL |
4426.057 |
3837.909 |
3642.644 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
6483.190 |
5263.785 |
4880.708 |
|
|
Other Income |
210.444 |
99.344 |
98.316 |
|
|
TOTAL |
6693.634 |
5363.129 |
4979.024 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2709.874 |
2382.812 |
2416.393 |
|
|
Purchases of
Stock-in-Trade |
1077.939 |
1128.728 |
890.440 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
177.385 |
(106.777) |
(193.448) |
|
|
Employee benefit expense |
280.599 |
213.472 |
195.680 |
|
|
Expenditure on production, transportation
and Other expenditure pertaining to
exploration and production activities |
10.803 |
8.965 |
0.000 |
|
|
Other expenses |
1112.563 |
1079.324 |
908.215 |
|
|
TOTAL |
5369.163 |
4706.524 |
4217.280 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1324.471 |
656.605 |
761.744 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.012 |
0.096 |
0.503 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1324.459 |
656.509 |
761.241 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
125.902 |
120.095 |
92.297 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1198.557 |
536.414 |
668.944 |
|
|
|
|
|
|
|
Less |
TAX |
414.587 |
182.462 |
243.974 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
783.970 |
353.952 |
424.970 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
188.907 |
0.744 |
0.874 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Final equity dividend |
0.000 |
35.201 |
211.206 |
|
|
Interim equity dividend |
140.804 |
105.603 |
0.000 |
|
|
Equity dividend tax |
28.665 |
24.985 |
35.894 |
|
|
Transfer to General Reserve |
0.000 |
0.000 |
178.000 |
|
|
Total
|
169.469 |
165.789 |
425.100 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
803.408 |
188.907 |
0.744 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
4454.00 |
2011.00 |
2415.00 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1043.059 |
461.705 |
637.265 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
74.83 |
65.39 |
73.06 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.88 |
5.58 |
5.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
105.10 |
132.69 |
115.41 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.94 |
0.64 |
0.95 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.85 |
1.10 |
1.51 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.36 |
0.43 |
0.46 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.02 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.59 |
0.77 |
0.84 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.26 |
0.28 |
0.26 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
110372.58 |
6839.64 |
1514.40 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT
/ Sales) * 100) |
% |
12.09 |
6.72 |
8.71 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
17.71 |
9.22 |
11.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
28.47 |
16.55 |
21.78 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.01 |
1.68 |
1.67 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.59 |
1.06 |
1.18 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.62 |
0.56 |
0.54 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
25.86 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.01 |
1.68 |
1.67 |
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 |
1.760 |
1.760 |
1.760 |
|
Reserves & Surplus |
1949.152 |
2137.314 |
2751.816 |
|
Net
worth |
1950.912 |
2139.074 |
2753.576 |
|
|
|
|
|
|
long-term borrowings |
45.512 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
45.512 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.023 |
0.000 |
0.000 |
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 |
4880.708 |
5263.785 |
6483.190 |
|
|
|
7.849 |
23.166 |
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 |
4880.708 |
5263.785 |
6483.190 |
|
Profit/ (Loss) |
424.970 |
353.952 |
783.970 |
|
|
8.71% |
6.72% |
12.09% |
LEGAL CASES
|
CASE DETAILS |
|
BENCH:-BOMBAY |
|
PRESENTATION DATE: - 15/06/2016 |
|||||||||
|
LODGING NO.:- |
ITXAL/641/2016 |
FILING DATE:- |
15/06/2016 |
REG. NO.:- |
ITXA/1465/2016 |
REG. DATE:- |
14/09/2016 |
||
|
PETITIONER:- |
PRINCIPAL COMMISSIONER OF INCOME TAX |
RESPONDENT:- |
SULPHUR MILLS LIMITED |
|
PETN. ADV.:- |
ARVIND PINTO (I583) |
RESP. ADV.:- |
RAHUL K HAKANI (I33350) |
|
DISTRICT:- |
MUMBAI |
|
BENCH:- |
DIVISION |
||
|
STATUS:- |
PRE-ADMISSION |
CATEGORY:- |
TAX APPEALS |
|
LAST DATE:- |
17/03/2017 |
STAGE:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
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 |
No |
|
21] |
Banking facility details |
No |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
Yes |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF THE
COMPANY`S AFFAIRS: (As on 31.03.2016)
Gross Turnover during the year is INR 6614.423 Million as against previous year INR 5390.648 Million where there is an increase of 22.70%. All efforts are being made to improve for the next financial year i.e. 2016-17. However the profitability of the Company last year was INR 536.414 Million which was 9.95% of turnover versus this year INR 1198.557 Million which is 18.12% of turnover.
Export sales of the Company this year is INR 2949.660 Million as against previous year INR 1766.818 Million (Increased by 66.95%). Increase because of additional B2B business due to technology that the Company has, based on which it grew business in Brazil predominantly.
Domestic sales of the Company this year is INR 3472.638 Million as against previous year INR 3442.252 Million. The total volume was higher but value was low due to suppressed pricing and difficulties in the market.
Due to further R&D efforts Company has received and further applied many patents internationally and in India for their advanced technology based formulations. Further Investments were made in registration in the EU, Latin and African markets. These will have returns in the upcoming years based on related marketing and sales efforts.
The Company plans to successfully launch their new platform technology based formulations in the coming years. Further the Company implemented SAP a robust system which will increase the efficiency of working and help in reaching the related mile stones.
The Company also further intends to have a more professional approach and is looking forward to rework on the organisation restructure and to better the operating procedures with having one of the big four reputed CA firms engaged with us.
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
Y10351159 |
90243522 |
BANK OF INDIA |
31/05/2001 |
- |
67000000.0 |
TURBHE BRANCH , PLOT NO 34, SECTOR 24, TURBHE, MUMBAI- 400705, MAHARASHTRA,
INDIA |
|
2 |
Y10350850 |
90243213 |
BANK OF INDIA |
17/11/1994 |
- |
2500000.0 |
TURBHE BRANCH, NEW BOMBAY, THANE- 400001, MAHARASHTRA, INDIA |
|
3 |
Y10350848 |
90243211 |
BANK OF INDIA |
07/11/1994 |
17/11/1994 |
2500000.0 |
TURBHE BRANCH, NEW BOMBAY, THANE- 400001, MAHARASHTRA, INDIA |
|
4 |
Y10347194 |
90239557 |
BANK OF INDIA |
17/11/1990 |
- |
5500000.0 |
TURBHE BRANCH, NEW BOMBAY, THANE- 400001, MAHARASHTRA, INDIA |
|
5 |
Y10350680 |
90243043 |
BANK OF INDIA |
29/01/1990 |
08/01/1990 |
3500000.0 |
TURBHE BRANCH, NEW BOMBAY, THANE- 400001, MAHARASHTRA, INDIA |
|
6 |
Y10350577 |
90242940 |
BANK OF INDIA |
13/01/1987 |
16/09/1988 |
1500000.0 |
TURBHE BRANCH, NEW BOMBAY, THANE- 400001, MAHARASHTRA, INDIA |
|
7 |
Y10350560 |
90242923 |
BANK OF INDIA |
13/10/1985 |
13/09/1989 |
800000.0 |
TURBHE BRANCH, NEW BOMBAY, THANE- 400001, MAHARASHTRA, INDIA |
|
8 |
Y10350553 |
90242916 |
BANK OF INDIA |
27/03/1985 |
22/12/1986 |
800000.0 |
TURBHE BRANCH, NEW BOMBAY, THANE- 400001, MAHARASHTRA, INDIA |
|
9 |
Y10346710 |
90239073 |
BANK OF INDIA |
27/03/1985 |
22/12/2006 |
500000.0 |
TURBHE BRANCH, NEW BOMBAY, THANE- 400001, MAHARASHTRA, INDIA |
|
10 |
Y10346441 |
90238804 |
BANK OF INDIA |
30/12/1976 |
15/11/1984 |
920000.0 |
TURBHE BRANCH, NEW BOMBAY, THANE- 400001, MAHARASHTRA, INDIA |
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Other pollution reduction equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipment
· Other equipment
· Leasehold improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 65.20 |
|
UK Pound |
1 |
INR 91.49 |
|
Euro |
1 |
INR 80.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
JYTK |
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.