|
|
|
MIRA
INFORM REPORT
|
Report No. : |
498380 |
|
Report Date : |
23.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SCOTTS GARMENTS LIMITED (w.e.f. 19.06.2007) |
|
|
|
|
Formerly Known
As : |
SCOTTS GARMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
481-B, IV Phase, Peenya Industrial
Area, Bangalore – 560058, Karnataka |
|
Tel. No.: |
91-80-41179000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
01.03.2002 |
|
|
|
|
Com. Reg. No.: |
08-030185 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 341.729 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101KA2002PLC030185 |
|
|
|
|
IEC No.: |
0793009014 |
|
|
|
|
GST No.: |
29AAFCS9703C1ZB |
|
|
|
|
TIN No.: |
29660017109 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCS9703C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ready Made Garments.
[Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was incorporated in the year 2002. It is a manufacturer and
exporter of readymade garments. Management has not filed its financial record with government
department for the year 2017 and same are not available from any other
sources. As per the financial records of 2016, the company has earned 6.53%
growth in its revenue as compared to the previous year’s revenue along with
net profitability margin of 1.04%. The rating takes into consideration the sound financial position of
the company marked by strong net worth base, infusion of equity by its
promoter, average liquidity position and acceptable debt balance sheet
profile. Rating is constrained on account of absence of latest financial
records of the company. 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 condition. |
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 |
CARE |
|
Rating |
Long term Loans = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
08.02.2017 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short term Loans = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
08.02.2017 |
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 DECLINED BY
|
Name : |
Mr. Thiagarajan Manickam |
|
Designation : |
Chief Finance Officer (KMP) |
|
Contact No.: |
91-9980065411 |
|
Date : |
19.03.2018 |
[91-80-40858585/ 7829915852/ 9538873343 is continuously ringing]
LOCATIONS
|
Registered Office/ Factory : |
481-B, IV Phase, Peenya
Industrial Area, Bangalore – 560058, Karnataka, India |
|
Tel. No.: |
91-80-28363576 |
|
Mobile No.: |
91-9980065411 [Mr. Thiagarajan
Manickam] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Naseer Ahmed |
|
Designation : |
Managing Director |
|
Address : |
391, 2nd Main, 2nd Cross, 2nd Phase, 80 Feet Road, R M V Extension, Bangalore - 560094, Karnataka, India |
|
Date of Birth/Age : |
22.05.1959 |
|
Qualification : |
B Com |
|
Date of Appointment : |
01.03.2002 |
|
PAN No.: |
ADUPA3854H |
|
DIN No.: |
00027095 |
|
|
|
|
Name : |
Mr. Baskaran Kesavareddiyar |
|
Designation : |
Nominee Director |
|
Address : |
Flat No. SN A2/310, Sneha Apartments Godavari Block, NGV, Koramangala, Bangalore-560047, Karnataka, India |
|
Date of Appointment : |
22.02.2016 |
|
DIN No.: |
07176788 |
|
|
|
|
Name : |
Mr. Nuzhat Aisha Naseer |
|
Designation : |
Whole-time director |
|
Address : |
No. 391, 2nd Cross, 2nd Stage, 80 Feet Road, R.M.V. Extension, Bangalore - 560094, Karnataka, India |
|
Date of Birth/Age : |
28.08.1977 |
|
Date of Appointment : |
05.10.2005 |
|
PAN No.: |
AEFPN6992P |
|
DIN No.: |
00245176 |
|
|
|
|
Name : |
Mr. Arunachalam Arumugham |
|
Designation : |
Director |
|
Address : |
121, Udani Layout, Cambridge Road, Ulsoor, Bangalore - 560008, Karnataka, India |
|
Date of Birth/Age : |
26.10.1942 |
|
Date of Appointment : |
04.05.2006 |
|
DIN No.: |
00350163 |
|
|
|
|
Name : |
Mr. Azeezulla Baig |
|
Designation : |
Director |
|
Address : |
No. 319, B2 Netravathi Block, NGV complex, Koramangala, Banalore - 560009, Karnataka, India |
|
Date of Birth/Age : |
03.07.1947 |
|
Date of Appointment : |
12.12.2007 |
|
DIN No.: |
00532908 |
|
|
|
|
Name : |
Mr. Murali Ranganatha Rao Channasamudram |
|
Designation : |
Director |
|
Address : |
561, Srinidhi, Water Tank Road, Katriguppe, BSK 2nd Stage, Bangalore - 560085, Karnataka, India |
|
Date of Birth/Age : |
28.04.1958 |
|
DIN No.: |
00533104 |
|
|
|
|
Name : |
Mr. Nakkaguttala Hally Subbaraya Sastry Thyagarajan |
|
Designation : |
Nominee Director |
|
Address : |
502, Durga Flute Ashok Puram Community Hall Road, Mahalak Shimipuram, Bangalore-560086, Karnataka, India |
|
Date of Appointment : |
05.01.2018 |
|
DIN No.: |
08064927 |
|
|
|
|
Name : |
Mr. Awaiz Ahmed |
|
Designation : |
Director |
|
Address : |
50 B, Sobha Malachite, Sobha Ultima,, Bangalore - 560064, Karnataka, India |
|
Date of Birth/Age : |
25.08.1992 |
|
Date of Appointment : |
11.01.2014 |
|
DIN No.: |
03525404 |
KEY EXECUTIVES
|
Name : |
Mr. Thiagarajan Manickam |
|
Designation : |
Chief Finance Officer (KMP) |
|
Address : |
F-3, Padmavathy Homes, 7th Main Road,, Puttenahalli, J. P. Nagar, VII Phase, Bangalore - 560078, Karnataka, India |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AAQPT3706J |
|
|
|
|
Name : |
Mr. Guruswamy Babu |
|
Designation : |
Company Secretary |
|
Address : |
8A 29th Street, Flat No 2G2, Nanganallur, Chennai-600061, Tamilnadu, India |
|
Date of Birth/Age : |
08.10.1959 |
|
Date of Appointment : |
01.08.2007 |
|
PAN No.: |
ALJPG8190K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Naseer Ahmed |
|
15173400 |
|
Pedigree Construction Private Limited, India |
|
5797500 |
|
B R Machine Tools Private Limited, India |
|
3606600 |
|
Bombay Rayon Fashions Limited, India |
|
2400000 |
|
Canbank Venture Capital Fund Limited, India |
|
2086956 |
AS ON 30.09.2015
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
44.40 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
13.20 |
|
Public/Other than promoters – Venture Capital |
6.11 |
|
Public/Other than promoters - Body Corporate |
36.29 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ready Made Garments.
[Registered Activity] |
||||
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|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
· Bershka · Lefties · Inditex · Matalan · Penneys · Primark · Topshop · Topman · River Island · Springfield, etc |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
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Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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|
|||||||||||||||||||||||||||
|
Bankers : |
· Canara Bank 28, M G Road, Bangalore - 560001, Karnataka, India · Canara Bank Prime
Corporate Branch, Shankarnarayana Building, No.25, M G Road,
Bangalore-560001, Karnataka, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institution : |
· SBICAP Trustee Company Limited 202, Maker Tower, 'E' Cuffe Parade, Colaba, Mumbai-400005,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Siddaiah and Ram Chartered Accountants |
|
Address : |
Bangalore, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFS8847B |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates Companies : |
· Coppers Coin Realty Private Limited (U45201KA2009PTC051106) · Inmark Retail Private Limited (U18101KA2008PTC047261) · Voi Jeans Retail India Private Limited, India [U52321KA2011PTC059681] · Scotts Plantations Private Limited, India [U01132KA2005PTC038071] · Scotts Fashionciti India Limited · Scotts Metals and Mines Private Limited · Scotts Infrastructure and Development Private Limited · GFI Infrastructure Private Limited · Scotts Apparels Private Limited · TSS Enterprises Private Limited · Scotts Wears Private Limited · Scotts Knits Private Limited · Pedigree Construction Private Limited · Voi Jeans Retail India Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44000000 |
Equity Shares |
INR 10/- each |
INR 440.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34172856 |
Equity Shares |
INR 10/- each |
INR 341.729
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 |
341.729 |
284.774 |
284.774 |
|
(b) Reserves and Surplus |
2680.288 |
2659.309 |
2546.208 |
|
(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) |
3022.017 |
2944.083 |
2830.982 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
581.752 |
865.402 |
766.781 |
|
(b) Deferred tax liabilities (Net) |
12.942 |
27.512 |
64.063 |
|
(c) Other long-term
liabilities |
48.649 |
46.553 |
30.415 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
643.343 |
939.467 |
861.259 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
3826.739 |
3470.795 |
2503.631 |
|
(b) Trade
payables |
525.285 |
670.163 |
661.509 |
|
(c) Other
current liabilities |
736.239 |
505.193 |
887.109 |
|
(d) Short-term
provisions |
87.964 |
92.020 |
102.079 |
|
Total Current
Liabilities (4) |
5176.227 |
4738.171 |
4154.328 |
|
|
|
|
|
|
TOTAL |
8841.587 |
8621.721 |
7846.569 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1879.878 |
2168.029 |
2312.930 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
2.528 |
2.528 |
7.961 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
446.005 |
446.020 |
481.308 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
69.634 |
70.221 |
66.790 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2398.045 |
2686.798 |
2868.989 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4103.850 |
3663.721 |
2899.182 |
|
(c) Trade
receivables |
1454.127 |
1052.093 |
948.446 |
|
(d) Cash and
bank balances |
101.566 |
111.215 |
80.070 |
|
(e)
Short-term loans and advances |
400.279 |
678.575 |
621.405 |
|
(f) Other
current assets |
383.720 |
429.319 |
428.477 |
|
Total
Current Assets |
6443.542 |
5934.923 |
4977.580 |
|
|
|
|
|
|
TOTAL |
8841.587 |
8621.721 |
7846.569 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
7463.489 |
7005.965 |
6324.201 |
|
|
Other Income |
73.809 |
59.646 |
73.260 |
|
|
TOTAL |
7537.298 |
7065.611 |
6397.461 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4811.808 |
4120.258 |
4028.059 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(535.600) |
(393.377) |
(282.981) |
|
|
Employee benefit expense |
1614.955 |
1739.110 |
1283.220 |
|
|
CSR expenditure |
2.344 |
1.106 |
0.000 |
|
|
Other expenses |
601.864 |
659.745 |
600.995 |
|
|
Exceptional items |
110.462 |
(53.063) |
(6.734) |
|
|
TOTAL |
6605.833 |
6073.779 |
5622.559 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
931.465 |
991.832 |
774.902 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
564.456 |
582.206 |
263.730 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
367.009 |
409.626 |
511.172 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
286.645 |
336.752 |
335.678 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
80.364 |
72.874 |
175.494 |
|
|
|
|
|
|
|
Less |
TAX |
2.430 |
(49.708) |
(22.525) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
77.934 |
122.582 |
198.019 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
5994.880 |
5608.620 |
5165.820 |
|
|
TOTAL EARNINGS |
5994.880 |
5608.620 |
5165.820 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
167.300 |
57.950 |
92.140 |
|
|
Components and spare
parts |
1.060 |
172.000 |
233.030 |
|
|
Capital Goods |
37.560 |
28.740 |
55.680 |
|
|
TOTAL IMPORTS |
205.920 |
258.690 |
380.850 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.61 |
4.30 |
6.95 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
428.327 |
330.721 |
700.579 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
488.781 |
(341.499) |
197.678 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
482.623 |
(344.889) |
168.261 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
71.11 |
54.81 |
54.74 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.13 |
6.66 |
6.67 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
39.85 |
59.37 |
59.94 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.23 |
0.27 |
0.27 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.49 |
0.46 |
0.33 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.70 |
0.69 |
0.72 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.60 |
1.59 |
1.40 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.71 |
1.61 |
1.47 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.62 |
0.74 |
0.82 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.65 |
1.70 |
2.94 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.04 |
1.75 |
3.13 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.88 |
1.42 |
2.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
2.58 |
4.16 |
6.99 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.24 |
1.25 |
1.20 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.45 |
0.48 |
0.50 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.34 |
0.34 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
14.15 |
16.39 |
13.94 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.24 |
1.25 |
1.20 |
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 |
284.774 |
284.774 |
341.729 |
|
Reserves & Surplus |
2546.208 |
2659.309 |
2680.288 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2830.982 |
2944.083 |
3022.017 |
|
|
|
|
|
|
Long-term borrowings |
766.781 |
865.402 |
581.752 |
|
Short term borrowings |
2503.631 |
3470.795 |
3826.739 |
|
Current maturities of
long-term debts |
700.579 |
330.721 |
428.327 |
|
Total
borrowings |
3970.991 |
4666.918 |
4836.818 |
|
Debt/Equity
ratio |
1.403 |
1.585 |
1.601 |
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 |
6324.201 |
7005.965 |
7463.489 |
|
|
|
10.780 |
6.530 |
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 |
6324.201 |
7005.965 |
7463.489 |
|
Profit/ (Loss) |
198.019 |
122.582 |
77.934 |
|
|
3.13
% |
1.75
% |
1.04
% |
LEGAL CASES
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G50127372 |
100115174 |
SBICAP TRUSTEE COMPANY LIMITED |
17/07/2017 |
- |
- |
4899000000.0 |
202, MAKER TOWER, 'E' CUFFE PARADECOLABAMUMBAIMH400005IN |
|
2 |
G59274639 |
100096339 |
SBICAP TRUSTEE COMPANY LIMITED |
26/04/2017 |
21/07/2017 |
- |
4899000000.0 |
202, MAKER TOWER 'E ' CUFFE PARADECOLABAMUMBAIMH400005IN |
|
3 |
C69582856 |
10601497 |
Canara Bank |
20/10/2015 |
- |
- |
30000000.0 |
PRIME CORPORATE BRANCH, SHANKARNARAYANA BUILDINGNO.25, M G ROADBANGALOREKA560001IN |
|
4 |
C69583664 |
10601499 |
Canara Bank |
14/10/2015 |
- |
- |
50000000.0 |
PRIME CORPORATE BRANCH, SHANKARNARAYANA BUILDINGNO.25, M G ROADBANGALOREKA560001IN |
|
5 |
C67120683 |
10596733 |
CANARA BANK |
19/08/2015 |
- |
- |
105900000.0 |
PRIME CORPORATE BRANCH, SHANKARNARAYANA BUILDINGNO.25, M G ROADBANGALOREKA560001IN |
|
6 |
C51983716 |
10566035 |
CANARA BANK |
30/03/2015 |
- |
- |
300000000.0 |
PRIME CORPRATE BRANCH, SHANKAR NARAYANA BUILDINGNO.25, M G ROADBANGALOREKA560001IN |
|
7 |
G02060564 |
10550739 |
Canara Bank |
05/02/2015 |
17/03/2016 |
- |
350000000.0 |
Prime Corporate Branch, Shankarnarayana BuildingNo.25, M.G RoadBangaloreKA560001IN |
|
8 |
C47239512 |
10556004 |
IDBI Bank Limited |
19/01/2015 |
- |
- |
500000000.0 |
IDBI Tower, World Trade ComplexCuffe ParadeMumbaiMH400005IN |
|
9 |
C35330935 |
10533815 |
CANARA BANK |
14/11/2014 |
- |
- |
48000000.0 |
PRIME CORPORATE BRANCH, SHANKARNARAYANA BUILDINGNO.25, M G ROADBANGALOREKA560001IN |
|
10 |
C12977567 |
10510811 |
CANARA BANK |
07/07/2014 |
- |
- |
100000000.0 |
PRIME CORPORATE BRANCH, SHANKARNARAYANA BUILDINGNO.25, M G ROADBANGALOREKA560001IN |
OPERATIONS
The EBITDA has increased to INR 968.110 Million during the year compared to INR 879.120 Million during the previous year .In terms of percentage EBITDA has improved to 9.19 % in FY 2015-16
The company has achieved a growth of 6.13% in turnover in spite of general recession and economic slowdown.
REVIEW OF BUSINESS OPERATIONS :
During the year the company has added new overseas buyers and it has resulted in increased Turnover. The company was able to achieve this turnover despite difficult market conditions. Finance cost has increased considerably during the year.
ANALYSIS AND REVIEW:
During the year, the company in general and Garment Industry in particular faced lot of challenges. There was increase in employee cost, Finance cost, depreciation & amortization and manufacturing and other overheads. There was also large volatility in forex rates. The directors have managed the challenges and improved the companys performance. The company has been regular in widening client base by adding new clients during year.
FUTURE OUTLOOK :
Doddaballapura Project has become fully operational. The Company is planning to increase the capacity by installing additional Machinery.
The company is also planning to install additional machinery at Tumkur to increase the capacity.
To fund these additional capacity in the above two units company is planning to for Term Loan with financial institutions.
The Company is also exploring the possibilities of taking over sewing units to increase production capacity.
The company has taken initiative to cater to the needs of new overseas buyers and in constant touch with them in meeting their requirements. The company is also in the process of expanding its export base.
Company is Confident of achieving a projected Turnover of INR 9520.000 Million for the financial Year 2016-17.
Current order book of the company is comfortable to achieve its projected revenue growth.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
· 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 65.06 |
|
UK Pound |
1 |
INR 92.06 |
|
Euro |
1 |
INR 80.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
IND |
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.