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MIRA INFORM REPORT
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Report No. : |
499076 |
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Report Date : |
23.03.2018 |
IDENTIFICATION DETAILS
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Name : |
JAYESH INDUSTRIES LIMITED (w.e.f.27.03.2000) |
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Formerly Known
As : |
JAYESH INDUSTRIES PRIVATE LIMITED (w.e.f.15.03.2000) AMSON POLYMERS PRIVATE LIMITED |
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Registered
Office : |
605-609, 6th Floor, Krushal Commercial Complex, Amar Mahal, G M Road,
Chembur (West), Mumbai – 400089, Maharashtra |
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Tel. No.: |
91-22-67039991/ 40749990/ 40119991 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
27.02.1992 |
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Com. Reg. No.: |
11-065609 |
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Capital
Investment / Paid-up Capital : |
INR 38.901 Million |
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CIN No.: [Company Identification
No.] |
U74999MH1992PLC065609 |
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IEC No.: [Import-Export Code No.] |
0395059151 |
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TIN No.: |
27840001620 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AACCA2870M1ZH |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCA2870M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacture, sale and providing services of metal products
and ferro alloys. [Registered Activity] |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1992 having satisfactory track
record. It is engaged as manufacturer, seller and providing services of metal
products and ferro alloys. For the financial year 2017, the company has achieved decent growth of
17.21% in its revenue as compared to its previous year but has reported very
thin profit margin during the year. Rating takes into consideration, the acceptable financial risk profile
marked by sufficient net worth base and ideal debt protection metrics. Rating continue to derive strength from its long and established track
record of its business operations backed by its well-experienced management
team. However, these strengths gets partially offset by fluctuating
profitability margins due to limited value additive nature of operations,
working capital intensive nature of business operations and exposure to
commodity price cycle. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 23.03.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel. No.:
91-22-67039991/ 40749990)
LOCATIONS
|
Registered Office / Head Office : |
605-609, 6th Floor, Krushal Commercial Complex, Amar Mahal, G M Road,
Chembur (West), Mumbai – 400089, Maharashtra, India |
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Tel. No.: |
91-22-67039991/ 40749990/ 40119991 |
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Fax No.: |
91-22-67039990/ 25260986 |
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E-Mail : |
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Website : |
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Factory : |
S. No.132/2-A/B/C
and 132/3 – A/B/C, Khopoli-Pen Road, Village-Tambati, Taluka Khalapur,
District Raigad-410203, Maharashtra, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Dinesh Nandlal Shah |
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Designation : |
Managing Director |
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Address : |
Jayesh, B/3, R.B. Mehta Marg, Ghatkopar (East), Mumbai ‐ 400077, Maharashtra, India |
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Date of Birth/Age : |
27.07.1948 |
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Date of Appointment : |
01.10.2013 |
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DIN No.: |
00031829 |
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Name : |
Mr. Jayesh Dinesh Shah |
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Designation : |
Whole-time Director |
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Address : |
Jayesh, B/3, R.B. Mehta Marg, Ghatkopar (East), Mumbai ‐ 400077, Maharashtra, India |
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Date of Birth/Age : |
02.05.1975 |
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Date of Appointment : |
01.10.2013 |
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DIN No.: |
00031900 |
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Name : |
Mr. Utpal Dinesh Shah |
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Designation : |
Whole-time Director |
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Address : |
Jayesh, B/3, R.B. Mehta Marg, Ghatkopar (East), Mumbai ‐ 400077, Maharashtra, India |
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Date of Birth/Age : |
29.04.1979 |
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Date of Appointment : |
01.10.2013 |
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DIN No.: |
00031972 |
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Name : |
Mr. Monil Dinesh Shah |
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Designation : |
Whole-time director |
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Address : |
Jayesh, B/3, R.B. Mehta Marg, Ghatkopar (East), Mumbai ‐ 400077, Maharashtra, India |
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Date of Birth/Age : |
25.09.1981 |
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Date of Appointment : |
17.07.2000 |
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DIN No.: |
00031997 |
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Name : |
Mrs. Usha Dinesh Shah |
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Designation : |
Director |
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Address : |
B-Jayesh CHS, Near Bank of Maharashtra, R B Mehta Road, Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
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Date of Birth/Age : |
04.12.1948 |
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Date of Appointment : |
28.03.2016 |
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DIN No.: |
00214031 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh Nandlal Shah |
|
99035 |
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Jayesh Dinesh Shah |
|
17017 |
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Usha Dinesh Shah |
|
99111 |
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Utpal Dinesh Shah |
|
14365 |
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Monil Dinesh Shah |
|
23720 |
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Dinesh Nandlal Shah Karta of Dinesh Nandlal Shah HUF |
|
42684 |
|
Utpal Impex Private Limited, India |
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6 |
|
Jayesh Metals and Ferro Alloys LLP |
|
6 |
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Jayesh Dinesh Shah Jointly with Usha Dinesh Shah |
|
3384 |
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Usha Dinesh Shah Jointly with Dinesh Nandlal Shah |
|
7928 |
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Utpal Dinesh Shah Jointly with Usha Dinesh Shah |
|
3425 |
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Monil Dinesh Shah Jointly with Dinesh Nandlal Shah |
|
3425 |
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Dinesh Nandlal Shah Jointly with Usha Dinesh Shah |
|
8004 |
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Jayesh Dinesh Shah Jointly with Anuradha Jayesh Shah |
|
6931 |
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Anuradha Jayesh Shah Jointly with Jayesh Dinesh Shah |
|
9133 |
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Naman Jayesh Shah Jointly with Father and natural gurdian Jayesh
Dinesh Shah |
|
1269 |
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Veer Jayesh Shah Jointly with Father and natural gurdian Jayesh Dinesh
Shah |
|
1269 |
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Utpal Dinesh Shah Jointly with Hetal Utpal Shah |
|
12177 |
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Hetal Utpal Shah Jointly with Utpal Dinesh Shah |
|
6025 |
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Monil Dinesh Shah Jointly with Pooja Monil Shah |
|
12177 |
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Pooja Monil Shah Jointly with Monil Dinesh Shah |
|
4757 |
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Anuradha Jayesh Shah |
|
5074 |
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Hetal Utpal Shah |
|
8086 |
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Jalpa Jimesh Sanghvi |
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1 |
|
Shital Kalpesh Shah |
|
1 |
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Total |
|
389010 |
AS ON 30.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture, sale and providing services of metal products
and ferro alloys. [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
J. D. Zatakia and Company Chartered Accountants |
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Address : |
306, Rupa Plaza, Jawahar Road, Ghatkopar (East), Mumbai-400077,
Maharashtra, India |
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Tel. No.: |
91-22-25010052 |
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Fax No.: |
91-22-25011051 |
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E-Mail : |
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Qualification : |
B.Com., F.C.A. |
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PAN No.: |
AAAPZ0084D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate
Companies/Entities : |
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CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
400000 |
Equity Shares |
INR 100/- each |
INR 40.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
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|
389010 |
Equity Shares |
INR 100/- each |
INR 38.901
Million |
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FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
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|
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
38.901 |
14.901 |
9.801 |
|
(b) Reserves &
Surplus |
59.354 |
62.689 |
58.777 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
98.255 |
77.590 |
68.578 |
|
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(3) Non-Current
Liabilities |
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|
(a) long-term borrowings |
40.186 |
50.486 |
15.890 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
17.478 |
0.792 |
1.725 |
|
(d) long-term provisions |
3.788 |
8.637 |
3.937 |
|
Total Non-current
Liabilities (3) |
61.452 |
59.915 |
21.552 |
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
144.977 |
124.849 |
129.107 |
|
(b) Trade payables |
36.879 |
22.965 |
21.773 |
|
(c) Other current
liabilities |
45.535 |
16.758 |
9.756 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
227.391 |
164.572 |
160.636 |
|
|
|
|
|
|
TOTAL |
387.098 |
302.077 |
250.766 |
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
29.984 |
28.860 |
33.923 |
|
(ii) Intangible Assets |
0.005 |
0.008 |
0.012 |
|
(iii) Capital
work-in-progress |
156.782 |
81.782 |
3.011 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
1.206 |
1.253 |
0.551 |
|
(d) Long-term Loan and Advances |
4.493 |
10.794 |
5.466 |
|
(e) Other Non-current
assets |
5.148 |
4.065 |
2.567 |
|
Total Non-Current Assets |
197.618 |
126.762 |
45.530 |
|
|
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|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
71.408 |
84.193 |
80.296 |
|
(c) Trade receivables |
92.391 |
74.814 |
104.516 |
|
(d) Cash and cash
equivalents |
6.774 |
8.226 |
4.101 |
|
(e) Short-term loans and
advances |
18.907 |
8.082 |
16.323 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
189.480 |
175.315 |
205.236 |
|
|
|
|
|
|
TOTAL |
387.098 |
302.077 |
250.766 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
464.039 |
395.892 |
417.484 |
|
|
Other Income |
0.755 |
7.666 |
8.989 |
|
|
TOTAL |
464.794 |
403.558 |
426.473 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
339.821 |
299.173 |
334.500 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
22.078 |
(7.784) |
(13.212) |
|
|
Employees benefits
expense |
28.956 |
26.988 |
23.685 |
|
|
Other expenses |
48.273 |
48.068 |
48.655 |
|
|
TOTAL |
439.128 |
366.445 |
393.628 |
|
|
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PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
25.666 |
37.113 |
32.845 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
17.981 |
20.395 |
20.360 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
7.685 |
16.718 |
12.485 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION
|
4.419 |
5.940 |
6.759 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
3.266 |
10.778 |
5.726 |
|
|
|
|
|
|
|
Less |
TAX |
2.602 |
3.998 |
2.308 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.664 |
6.780 |
3.418 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
174.742 |
146.290 |
133.542 |
|
|
TOTAL EARNINGS |
174.742 |
146.290 |
133.542 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
120.654 |
157.982 |
176.036 |
|
|
TOTAL IMPORTS |
120.654 |
157.982 |
176.036 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
4.38 |
69.08 |
34.88 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
51.502 |
77.855 |
21.053 |
|
Net cash flow from operating activities |
53.539 |
73.899 |
19.360 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
72.67 |
68.98 |
91.38 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
5.02 |
5.29 |
3.99 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
39.61 |
28.02 |
23.76 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.36 |
0.44 |
0.41 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.14 |
0.34 |
0.89 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.69 |
0.71 |
0.70 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.88 |
2.26 |
2.11 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.31 |
2.12 |
2.34 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.90 |
1.43 |
0.54 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.43 |
1.82 |
1.61 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
0.14 |
1.71 |
0.82 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.17 |
2.24 |
1.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.68 |
8.74 |
4.98 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.83 |
1.07 |
1.28 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.52 |
0.55 |
0.78 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.25 |
0.26 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.76 |
11.77 |
14.79 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.83 |
1.07 |
1.28 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
9.801 |
14.901 |
38.901 |
|
Reserves & Surplus |
58.777 |
62.689 |
59.354 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
68.578 |
77.590 |
98.255 |
|
|
|
|
|
|
Long-term borrowings |
15.890 |
50.486 |
40.186 |
|
Short term borrowings |
129.107 |
124.849 |
144.977 |
|
Total borrowings |
144.997 |
175.335 |
185.163 |
|
Debt/Equity ratio |
2.114 |
2.260 |
1.885 |
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 |
417.484 |
395.892 |
464.039 |
|
|
|
(5.172) |
17.214 |
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 |
417.484 |
395.892 |
464.039 |
|
Profit |
3.418 |
6.780 |
0.664 |
|
|
0.82% |
1.71% |
0.14% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G39093901 |
80011271 |
State Bank of India |
02/04/2002 |
10/02/2017 |
- |
149500000.0 |
Specialised S.I.B. Branch, Hotel Airways Building, Ground Floor, L.B.S. Marg, Ghatkopar (West), Mumbai-400086, Maharashtra, India |
|
2 |
B18307496 |
80011273 |
STATE BANK OF INDIA |
13/03/1997 |
16/06/2011 |
- |
186259000.0 |
Specialised S.I.B. Branch, Hotel Airways Building, Ground Floor, L.B.S. Marg, Ghatkopar (West), Mumbai-400086, Maharashtra, India |
|
3 |
B58665514 |
80065604 |
Dena Bank |
04/11/1992 |
- |
04/09/2012 |
950000.0 |
Krishna Bhuvan, Vile Parle (East), Mumbai-400057, Maharashtra, India |
|
4 |
B58664426 |
80065605 |
Dena Bank |
04/11/1992 |
- |
04/09/2012 |
500000.0 |
Krishna Bhuvan, Vile Parle (East), Mumbai-400057, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Disputed Custom Duty demand for F.Y.12-13 (The company has deposited a sum of INR 0.036 Million being 10% of Total Demand raised) |
0.359 |
0.359 |
|
Disputed Custom Duty demand for F.Y.10-11 (In the view of the Company, the appeal will be allowed. hence it is not provided in the Books of Accounts) |
5.827 |
0.000 |
FIXED ASSETS:
Tangible Asset:
- Land
- Building
- Office
equipment
- Plant and
equipment
- Furniture and
Fixture
- Computer
- Vehicles
Intangible Asset:
- Software
License
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 65.06 |
|
|
1 |
INR 92.06 |
|
Euro |
1 |
INR 80.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.