|
|
|
MIRA INFORM REPORT
|
Report No. : |
497854 |
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Report Date : |
23.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
MMP INDUSTRIES LIMITED (w.e.f. 19.06.2012) |
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|
|
|
Formerly Known
As : |
MAHARASHTRA METAL
POWDERS LIMITED SEMI CONDUCTOR PACKAGES PRIVATE LIMITED |
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Registered
Office : |
211, Shrimohini, 345, Kingsway, Nagpur-440001, Maharashtra |
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Tel. No.: |
91-712-2533585 / 2524645 / 2548439 |
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|
|
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Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2017 |
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|
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Date of
Incorporation : |
08.10.1973 |
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|
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Com. Reg. No.: |
11-030813 |
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Capital
Investment / Paid-up Capital : |
INR 82.901 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32300MH1973PLC030813 |
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|
|
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IEC No.: [Import-Export Code No.] |
0388199091 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACM8955H1Z4 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACM8955H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exists |
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Comments : |
MMP Industries Limited was incorporated in the year 1973. It is a
manufacturer and exporter of Aluminium Powder, Aluminium Conductor and Flake
Powder. For the financial year 2017, the revenue of the company has increased
by 12.06% along with decent profit margin of 7.16%. The sound financial profile of the company is marked by adequate
networth base along with negligible debt level. The rating takes into consideration the subject’s long established
track record of business operations along with extensive experience of its
promoters. However, these rating strengths are partially offset by vulnerability
to volatility in raw material prices. Business is active. Payment seems to be usually 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
12.09.2017 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term bank facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
12.09.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 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 PARTED BY
|
Name : |
Mr. Praful R |
|
Designation : |
Accounts and Finance Officer |
|
Contact No.: |
91-7104-668047 |
|
Date : |
16.03.2018 |
LOCATIONS
|
Registered Office / Head Office /
Factory 1 : |
211, Shrimohini, 345, Kingsway, Nagpur – 440001, Maharashtra, India |
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Tel. No.: |
91-712-2533585 / 2524645 / 2548439 |
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Mobile No.: |
91-9371433585 (Mr. Praful R) |
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Fax No.: |
91-172-2530461 |
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E-Mail : |
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Website : |
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Corporate Office : |
B-24, Hingna MIDC Area, Hingna, Nagpur-440016, Maharashtra, India |
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|
91-7104-668047/668000 |
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Fax No.: |
91-7104-668032 |
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|
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Factory 2 : |
Village, Naregaon Post, Shahpur, District Bhandara-441906,
Maharashtra, India |
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|
91-7784-281126 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Arun Bhandari |
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Designation : |
Managing Director |
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Address : |
83, Shivaji Nagar, Nagpur-440010, Maharashtra, India |
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Date of Birth/Age : |
18.09.1955 |
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Qualification : |
Bachalor In Engineering |
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Date of Appointment : |
05.02.1981 |
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DIN No.: |
00008901 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Lalit Bhandari |
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Designation : |
Wholetime Director |
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Address : |
Flat No.7, Laxmi Apartments, R.N.T. Road, Civil Lines, Nagpur-440001, Maharashtra, India |
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Date of Birth/Age : |
24.02.1956 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.08.2008 |
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DIN No.: |
00010934 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Bhinvkaran Dhularam Jangid |
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Designation : |
Wholetime Director |
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|
Address : |
At. Krishna Trading Company, Rakiya Road, Bhandara-441904, Maharashtra, India |
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|
Date of Appointment : |
14.12.2017 |
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DIN No.: |
08021867 |
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ajay Sadashiv Gokhale |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Annapurna, 2-D, Hindustan Colony, Amrawati Road,
Nagpur-440033, Maharashtra, India |
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Date of Appointment : |
13.08.2015 |
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DIN No.: |
00550452 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Karan Varma |
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Designation : |
Director |
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Address : |
8, Byramji Town, Nagpur-440013, Maharashtra, India |
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Date of Appointment : |
06.09.2014 |
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DIN No.: |
06923525 |
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Ms. Sudha Sukesh Gandhi |
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Designation : |
Director |
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Address : |
M 601, Mahima Kamalini Appartment 21/23 Palm Road, Civil Lines, Nagpur- 440001, Maharashtra, India |
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Date of Appointment : |
18.08.2017 |
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DIN No.: |
06611145 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Sharad Mohanlal Khandelwal |
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Designation : |
Company Financial Officer (KMP) |
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Address : |
Flat No. S-1, Harihar Apartments, Plot No. 358A, Hill Road, Gandhi Nagar, Nagpur-440010, Maharashtra, India |
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Date of Appointment : |
18.08.2017 |
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PAN No.: |
ADCPK2636D |
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|
|
Name : |
Mr. Chandrakant Shivshankar Nimje |
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Designation : |
Company Secretary |
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Address : |
629, Vinoba Bhave Nagar, Near Sai Mandir, Nagpur-440017, Maharashtra, India |
|
Date of Appointment : |
21.03.2017 |
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PAN No.: |
ATWPN0626J |
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|
|
|
Name : |
Mr. Praful R |
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Designation : |
Accounts and Finance Officer |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Arun Bhandari |
|
3093094 |
|
Mayank Bhandari |
|
247706 |
|
Rohini Bhandari |
|
99700 |
|
Saroj Bhandari |
|
1446092 |
|
Sakshi Bhandari |
|
173600 |
|
Mayank Fasteners Private Limited |
|
2126374 |
|
Star Circlips and Engineering Limited |
|
400000 |
|
Rohimi Horticultural Private Limited |
|
55000 |
|
Vivaan Bhandari |
|
648484 |
|
Total |
|
8290050 |
AS ON 31.03.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
55.64 |
|
Promoters - Bodies corporate |
16.69 |
|
Public shareholding - Individuals |
27.67 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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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 : |
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Products : |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Advance Payment, L/C and Cheque |
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|
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Purchasing : |
Advance Payment, L/C and Cheque |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEM’s
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
LONG TERM BORROWINGS Term of Repayment 1. Term Loan from IClCl Bank INR 53.316 Million carries interest @three month LIBOR or Equivalent Benchmark and is repayable in 20 installment cost 2. Term Loan for Vehicle from Banks INR 0.821 Million carries interest between 10.18% to 11.75% and is repayable as per schedule. 3. Loan from Other parties is a long term loan and are payable on demand. 4. Deferred Sales tax loan is interest free and the first instalment was started from the F.Y-2010-11 and the last installment will be paid by F.Y.2018-19 Security 1. The Term loan of INR 56.316 Million Is secured by Hypothecation of Factory Lands and Buildings situated at Maregaon,Neri, Hingna and Buitibori. Common Securities
for above term loan from bank are : a. Factory land and building and immovable machineries at Village Maregaon,Post shahpur, Dist.Bhandara. b. Factory land & building situated at Sr.no.1016/2 part,Satona Neri Road,Village Neri,Mohad,Dist.Bhandara. c. Factory land and building and immovable machineries at 8-28 &Plot No.B2BII,Hingana Ind.Estate,Nagpur. d. EM on Factory Land and Building at Survey
No.43,55/1,5611 & 5612, PH No.06.Mouza Maregaon,Tal.& Dist.Bhandara 2. The Term loan of INR 0.821 Million is secured by Hypothecation of Vehicles. SHORT TERM BORROWINGS Working Capital Loan secured by hypothecation of inventories, book debts and also personal guarantee of 2 Directors and' st second charge on all fixed assets. |
|
Auditors : |
|
|
Name : |
N. S. Rathore and Company Chartered Accountants |
|
Address : |
59, Sardar Patel Marg, Jaipur-302001, Rajasthan, India |
|
Tel. No.: |
91-141-2375728 / 2361830 |
|
PAN No.: |
AACFN7614D |
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|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Related enterprises where significant influence exist : |
CIN No.: U45200MH1987PTC045474
CIN No.:U24110MH1974PLC017301
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8500000 |
Equity Shares |
INR 10/- each |
INR 85.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8290050 |
Equity Shares |
INR 10/- each |
INR 82.901 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
82.901 |
82.901 |
82.901 |
|
(b) Reserves &
Surplus |
381.823 |
235.102 |
152.830 |
|
(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) |
464.724 |
318.003 |
235.731 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
69.752 |
83.130 |
117.265 |
|
(b) Deferred tax
liabilities (Net) |
44.036 |
38.591 |
30.559 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
113.788 |
121.721 |
147.824 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
320.666 |
280.667 |
276.750 |
|
(b) Trade payables |
84.409 |
93.092 |
150.764 |
|
(c) Other current
liabilities |
50.704 |
71.583 |
55.804 |
|
(d) Short-term provisions |
13.918 |
9.022 |
2.742 |
|
Total Current Liabilities
(4) |
469.697 |
454.364 |
486.060 |
|
|
|
|
|
|
TOTAL |
1048.209 |
894.088 |
869.615 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
366.610 |
367.452 |
338.405 |
|
(ii) Intangible Assets |
0.028 |
0.028 |
0.028 |
|
(iii) Capital
work-in-progress |
5.425 |
8.695 |
20.351 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
80.037 |
11.155 |
11.155 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.200 |
3.637 |
2.586 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
456.300 |
390.967 |
372.525 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
199.540 |
185.750 |
194.166 |
|
(c) Trade receivables |
343.360 |
272.159 |
277.367 |
|
(d) Cash and cash
equivalents |
17.163 |
14.737 |
1.890 |
|
(e) Short-term loans and
advances |
3.684 |
3.911 |
8.049 |
|
(f) Other current assets |
28.162 |
26.564 |
15.618 |
|
Total Current Assets |
591.909 |
503.121 |
497.090 |
|
|
|
|
|
|
TOTAL |
1048.209 |
894.088 |
869.615 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
2023.477 |
1805.689 |
1574.097 |
|
|
Other Income |
62.324 |
6.385 |
2.356 |
|
|
TOTAL |
2085.801 |
1812.074 |
1576.453 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1476.272 |
1268.830 |
1108.835 |
|
|
Purchases of
Stock-in-Trade |
0.166 |
1.145 |
0.977 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(23.415) |
(2.393) |
31.201 |
|
|
Employees benefits
expense |
133.412 |
108.435 |
86.614 |
|
|
Other expenses |
236.674 |
234.128 |
212.166 |
|
|
TOTAL |
1823.109 |
1610.145 |
1439.793 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
262.692 |
201.929 |
136.660 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
42.257 |
66.249 |
60.450 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
220.435 |
135.680 |
76.210 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
18.173 |
16.169 |
15.098 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
202.262 |
119.511 |
61.112 |
|
|
|
|
|
|
|
Less |
TAX |
57.329 |
38.017 |
22.379 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
144.933 |
81.494 |
38.733 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
189.749 |
108.255 |
69.522 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
334.682 |
189.749 |
108.255 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
105.900 |
119.300 |
155.261 |
|
|
TOTAL EARNINGS |
105.900 |
119.300 |
155.261 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1.300 |
1.300 |
1.600 |
|
|
Components and Stores
parts |
1.700 |
0.600 |
4.700 |
|
|
Capital Goods |
0.300 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
3.300 |
1.900 |
6.300 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
17.48 |
9.83 |
4.67 |
Expected Sales (2017-2018): INR 2300.000 Million
The above information has been parted by Mr. Praful R (Accounts and
Finance Officer)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
17.114 |
30.383 |
31.687 |
|
Cash generated from operations |
111.987 |
165.810 |
79.600 |
|
Net cash from operating activities |
64.997 |
142.106 |
64.904 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
61.94 |
55.01 |
64.32 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
5.89 |
6.63 |
5.68 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
20.87 |
26.76 |
49.58 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.32 |
1.09 |
0.70 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.71 |
0.54 |
0.38 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.53 |
0.64 |
0.73 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.88 |
1.24 |
1.81 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.01 |
1.43 |
2.06 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.80 |
1.18 |
1.52 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
6.22 |
3.05 |
2.26 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
7.16 |
4.51 |
2.46 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
13.83 |
9.11 |
4.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
31.19 |
25.63 |
16.43 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.26 |
1.11 |
1.02 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.84 |
0.70 |
0.62 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.44 |
0.36 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.92 |
4.75 |
5.14 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.26 |
1.11 |
1.02 |
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 |
82.901 |
82.901 |
82.901 |
|
Reserves & Surplus |
152.830 |
235.102 |
381.823 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
235.731 |
318.003 |
464.724 |
|
|
|
|
|
|
Long-term borrowings |
117.265 |
83.130 |
69.752 |
|
Short term borrowings |
276.750 |
280.667 |
320.666 |
|
Current Maturities of
Long term debt |
31.687 |
30.383 |
17.114 |
|
Total borrowings |
425.702 |
394.180 |
407.532 |
|
Debt/Equity ratio |
1.806 |
1.240 |
0.877 |
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 |
1574.097 |
1805.689 |
2023.477 |
|
|
|
14.713 |
12.061 |
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 |
1574.097 |
1805.689 |
2023.477 |
|
Profit |
38.733 |
81.494 |
144.933 |
|
|
2.46% |
4.51% |
7.16% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
82.901 |
82.901 |
|
(b) Reserves &
Surplus |
|
462.473 |
289.128 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
545.374 |
372.029 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
69.752 |
83.130 |
|
(b) Deferred tax
liabilities (Net) |
|
44.035 |
38.591 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
113.787 |
121.721 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
320.666 |
280.667 |
|
(b) Trade payables |
|
84.409 |
93.092 |
|
(c) Other current
liabilities |
|
50.704 |
71.583 |
|
(d) Short-term provisions |
|
13.918 |
9.022 |
|
Total Current Liabilities
(4) |
|
469.697 |
454.364 |
|
|
|
|
|
|
TOTAL |
|
1128.858 |
948.114 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
366.610 |
367.452 |
|
(ii) Intangible Assets |
|
0.028 |
0.028 |
|
(iii) Capital work-in-progress |
|
5.425 |
8.695 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
160.687 |
65.181 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
4.200 |
3.637 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
536.950 |
444.993 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
199.540 |
185.750 |
|
(c) Trade receivables |
|
343.360 |
272.159 |
|
(d) Cash and cash
equivalents |
|
17.163 |
14.737 |
|
(e) Short-term loans and
advances |
|
3.685 |
3.911 |
|
(f) Other current assets |
|
28.160 |
26.564 |
|
Total Current Assets |
|
591.908 |
503.121 |
|
|
|
|
|
|
TOTAL |
|
1128.858 |
948.114 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
2023.477 |
1805.689 |
|
|
Other Income |
|
62.324 |
6.385 |
|
|
TOTAL |
|
2085.801 |
1812.074 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1476.272 |
1268.830 |
|
|
Purchases of
Stock-in-Trade |
|
0.166 |
1.145 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(23.415) |
(2.393) |
|
|
Employees benefits
expense |
|
133.412 |
108.435 |
|
|
Other expenses |
|
236.674 |
234.128 |
|
|
TOTAL |
|
1823.109 |
1610.145 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
262.692 |
201.929 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
42.257 |
66.249 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
220.435 |
135.680 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
18.173 |
16.169 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
202.262 |
119.511 |
|
|
|
|
|
|
|
Less |
TAX |
|
57.329 |
38.017 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
144.933 |
81.494 |
|
|
|
|
|
|
|
Add |
Minority interest |
|
27.187 |
10.919 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) FOR THE
PERIOD |
|
172.120 |
92.413 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
|
20.76 |
11.15 |
LEGAL
CASE
|
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NATURE OF OPERATION
The company is manufacturing Aluminium Powder, Aluminium Pyro and Flake Powder, Paste and Aluminium Conductor. The Company is also engage in trading and manufacturing of MNO and MNO2 powder.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Long-term
Borrowings |
|
|
|
Indian Rupee Loans from others |
19.702 |
13.657 |
|
Sales tax deferment |
10.026 |
10.180 |
|
Less : current maturity |
1.612 |
0.153 |
|
Total |
28.116 |
23.684 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C30319974 |
10517781 |
ICICI BANK LIMITED |
04/08/2014 |
08/10/2014 |
- |
150000000.0 |
Landmarkrace Cource Circle, Alkapuri, Vadodara-390015, Gujarat, India |
|
2 |
C05555131 |
10500948 |
Axis Bank Limited |
28/03/2014 |
- |
- |
681000.0 |
Trishul 3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad-380006, Gujarat, India |
|
3 |
C05554357 |
10500940 |
Axis Bank Limited |
19/03/2014 |
- |
- |
598000.0 |
Trishul 3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad-380006, Gujarat, India |
|
4 |
G41855313 |
10452843 |
Axis Bank Limited |
27/09/2013 |
13/04/2017 |
- |
332500000.0 |
M.G House, Rabindranath Tagore Road, Civil Lines, Nagpur-440001, Maharashtra, India |
|
5 |
B91402982 |
10192419 |
Bank of Baroda |
24/10/2009 |
03/08/2012 |
14/11/2013 |
390600000.0 |
Dharampeth Branch, West High Court Road, Dharampeth, Nagpur-440010, Maharashtra, India |
|
6 |
B41471012 |
90231145 |
ANDHRA BANK |
24/12/2002 |
- |
15/06/2012 |
20000000.0 |
M.I. Road, Jaipur, Rajasthan, India |
|
7 |
B41470055 |
90236197 |
ANDHRA BANK |
24/12/2002 |
- |
15/06/2012 |
20000000.0 |
M.I. Road, Jaipur, Rajasthan, India |
|
8 |
A84696467 |
10093340 |
STATE BANK OF INDIA |
03/03/2008 |
- |
06/05/2010 |
138200000.0 |
Industrial Finance Branch 5, Sai Complex, Amravati Road, Bharat Nagar, Nagpur-440033, Maharashtra, India |
|
9 |
A84854751 |
90230722 |
STATE BANK OF INDIA |
18/08/1992 |
- |
06/05/2010 |
2750000.0 |
Hinga Industrial Estate Branch, Nagpur, Maharashtra, India |
|
10 |
A84855097 |
90227575 |
STATE BANK OF INDIA |
26/02/1981 |
- |
06/05/2010 |
990000.0 |
Hinga Industrial Estate Branch, Nagpur, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantee given by company bankers |
12.806 |
8.356 |
|
Sales tax demand pending with appellate
authorities |
5.3378 |
5.407 |
|
Income tax demand and appeal pending with
CIT |
0.309 |
0.164 |
|
Central excise duty and service tax demand
pending with additional Commissioner Nagpur II |
19.619 |
4.619 |
FIXED ASSETS:
Tangible Asset:
- Land
- Building
- Plant and
Machinery
- Electrical
installation
- Furniture and
Fixture
- Office lab
and equipment
- Live stock
- Computer
- Vehicles
Intangible Asset:
- Goodwill
PRESS RELEASE / WEBSITE DETAILS
MMP INDUSTRIES LIMITED
IPO (MMP INDUSTRIES IPO) DETAIL
Date: Mar 28, 2018
Incorporated in 1973, MMP Industries Limited is a Nagpur, Maharashtra based company engaged in manufacturing of aluminium products. Company's aluminium product range includes pyro and flake aluminium powders, atomised aluminium powders, aluminium pastes, aluminium conductors (all aluminium, alloy aluminium and aluminium steel reinforced).
Aluminium powders (pyro, flake and atomised) are used in many industrial sectors like construction (AAC Blocks) and mining (Aluminised slurry explosives), agriculture (pesticides), defence (ammunition), fire crackers, railways (thermit portions) etc. Aluminium pastes are used in automotive, decorative and industrial paints. Aluminium Conductors are consumed by the power sector for laying of overhead transmission lines.
With over 3 decades of experience MMP Industries has developed in depth ability to understand process related problems and fine tuning of its products to suit customer needs.
Company Promoters:
Arun Bhandari is the Promoter of the Company. He holds 4639641 Equity Shares equivalent to 37.31% of the pre-issue, subscribed and paid-up Equity Share Capital of the Company.
Objects of the Issue:
The objects of the Net Proceeds of the Issue are:
1. Setting up a new facility for manufacturing of Atomised Aluminium Powder,
Pyro and flake Aluminium Powder and Aluminium Foils
2. Prepayment or repayment of a portion of loan facilities availed by the Company
3. General Corporate Purposes
Issue Detail:
»» Issue Open: Mar 28, 2018 - Apr 4, 2018
»» Issue Type: Book Built
Issue IPO
»» Issue Size: 4500000 Equity Shares of INR 10
aggregating up to INR 846.000 million
»» Face Value: INR 10 Per Equity Share
»» Issue Price: INR 186 - INR 188 Per Equity Share
»» Market Lot: 600 Shares
»» Minimum Order Quantity: 600 Shares
»» Listing At: NSE SME
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 : |
SUV |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
BHG |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.