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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

497736

Report Date :

26.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

NEEL AUTO PRIVATE LIMITED (w.e.f. 26.09.2012)

 

 

Formerly Known As :

THAI SUMMIT NEEL AUTO PRIVATE LIMITED

 

 

Registered Office :

601, Hemkunt Chambers, 89, Nehru Place, New Delhi – 110019

Tel. No.:

91-11-26427104

 

 

Country :

India

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

02.12.2003

 

 

Com. Reg. No.:

55-123285

 

 

Capital Investment / Paid-up Capital :

INR 547.651 Million

 

 

CIN No.:

[Company Identification No.]

U34300DL2003PTC123285

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCT9860D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing of components for automobiles. [Registered Activity]

 

 

No. of Employees :

Information denied by the management

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Maximum Credit Limit :

USD 2400000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a wholly owned subsidiary of “Neel Metal products limited” and was incorporated in the year 2003. It is having good track records.

 

As per Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31-03-2017 but the documents related to the financial for the year 2017 are not available from any sources.

 

As per available financials of 2016, the company has registered decrease in its revenue from operation as compared to previous year but maintained average profitability margin of 2.93%.

 

Rating takes into consideration strong financial profile of the company marked by healthy networth base and average debt balance sheet.

 

Further, rating also reflects to strong managerial and financial support received from its holding company, established track records of business operations and improvement in the profitability profile during the year.

 

However, rating strength is partially offset by intense competition in the automobile industry. 

 

Trade relations are reported as fair. Payments are seems to be regular.

 

In view of aforesaid, the company can be considered good for normal 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

 

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 26.03.2018

 

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 (91-2135-664000)

 

LOCATIONS

 

Registered Office :

601, Hemkunt Chambers, 89, Nehru Place, New Delhi – 110019, India

Tel. No.:

91-11-26427104-06

Fax No.:

91-11-26427100

E-Mail :

rahul.chandak@jbm.co.in

Website :

www.jbm-group.com

 

 

Corporate Office / Works :

Behrampur Industrial Area, Begumpur-Khatola Road, Khandsa, Guugram – 122001, Haryana, India

Tel. No.:

91-124-4199500

Fax No.:

91-124-4199549

E-Mail :

napi.corp@jbm-group.com

 

 

Factory :

Plot #1,2,5 & 6, TVS Industrial Estate, Harita, Hosur 635109, Krishnagiri district, Tamilnadu, India

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Surendra Kumar Arya

Designation :

Director

Address :

Neelanchal No.7, Bandh Road Chandanhulla, Mehrauli, New Delhi New – 110030, India

Date of Birth/Age :

10.11.1957

Date of Appointment :

24.03.2014

DIN No.:

00004626

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U70109DL2006PTC150012

SHREEAUMJI INFRASTRUCTURE AND PROJECTS PRIVATE LIMITED

25/08/2015

-

U28111TN2006PTC099679

ARCELOR NEEL TAILORED BLANK PRIVATE LIMITED

01/11/2006

-

U45200DL2007PTC160649

MULTIVISION CONSTRUCTIONS PRIVATE LIMITED

15/09/2008

-

U92100GJ2007PLC097955

VICHAAR TELEVISION NETWORK LIMITED

29/11/2007

-

U27100DL2009PLC187584

JBM OGIHARA AUTOMOTIVE INDIA LIMITED

13/02/2009

-

U28113DL2011PTC212192

FJM CYLINDERS PRIVATE LIMITED

05/01/2011

-

U45201DL2006PTC144714

SHREEAUMJI REAL ESTATE SEZ PRIVATE LIMITED

28/09/2007

-

U99999DL1959PLC176013

AUTOMOTIVE COMPONENT MANUFACTURERS ASSOCIATION OF INDIA

02/09/2003

-

U74899DL2005PTC142456

SHREEAUMJI INFRASTRUCTURE PRIVATE LIMITED

10/11/2005

-

U45201DL2003PTC120054

SATISH BUILDWELL PRIVATE LIMITED

03/03/2005

-

U74899DL1998PTC095612

ANS HOLDING PRIVATE LIMITED

18/08/1998

-

U60100DL1997PLC086432

NEEL METAL PRODUCTS LIMITED

01/05/2002

-

U27109DL1982PLC084678

JBM INDUSTRIES LIMITED

18/08/1982

-

L74899DL1996PLC083073

JBM AUTO LIMITED

01/08/2000

-

U74899DL1995PLC067432

JBM INTERNATIONAL LIMITED

30/09/2015

-

U74899DL1995PLC064073

JAY BHARAT EXHAUST SYSTEMS LIMITED

05/01/1995

-

U74899DL1991PTC044376

JBM BUILDERS PRIVATE LIMITED

01/04/1995

-

L29130DL1987PLC027342

JAY BHARAT MARUTI LIMITED

19/03/1987

-

U34300DL1998PTC314334

JBM AUTO SYSTEM PRIVATE LIMITED

16/03/2001

-

U27109HR1975PLC007910

JAICO STEEL FASTNERS LIMITED

01/08/2000

-

 

 

Name :

Mr. Bharat Bhushan Gupta

Designation :

Director

Address :

L - 19/17, Ground Floor, DLF Phase – II, Gurugram – 122002, Haryana, India

Date of Birth/Age :

16.10.1955

Date of Appointment :

24.03.2014

DIN No.:

00004733

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U13203DL2007PLC164433

ANS STEEL TUBES LIMITED

28/06/2011

-

U29253HR2012PTC047407

JBM CORNAGLIA EXHAUST SYSTEMS PRIVATE LIMITED

11/10/2012

-

U28910DL2008PLC185040

JBM MOTORS LIMITED

30/09/2015

-

U29220PN2007PTC155874

JBM MA AUTOMOTIVE PRIVATE LIMITED

09/05/2015

-

U28931MP2008PTC034503

INDO TOOLINGS PRIVATE LIMITED

22/02/2008

-

U28111TN2006PTC099679

ARCELOR NEEL TAILORED BLANK PRIVATE LIMITED

01/11/2006

-

U74999MP2004NPL020090

PITHAMPUR AUTO CLUSTER

27/08/2015

-

U27109DL1982PLC084678

JBM INDUSTRIES LIMITED

30/09/2015

-

U34392HR1999PTC034392

NAGATA INDIA PRIVATE LIMITED

11/09/2009

-

 

 

Name :

Mr. Anand Swaroop

Designation :

Director

Address :

C - 5A/14, 2nd Floor, Janakpuri, New Delhi – 110058, India

Date of Birth/Age :

07.10.1960

Date of Appointment :

24.03.2014

DIN No.:

00004816

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U13203DL2007PLC164433

ANS STEEL TUBES LIMITED

17/06/2013

-

U74140DL2003PTC118916

K R CHAWLA CONSULTING PRIVATE LIMITED

29/09/2017

-

U70101DL2002PTC117107

HN PROPERTIES PRIVATE LIMITED

09/09/2014

-

U60100DL1997PLC086432

NEEL METAL PRODUCTS LIMITED

30/09/2015

-

U35990DL1995PLC071596

JAYBHARAT BREED LIMITED

09/12/2006

-

U74899DL1995PLC067432

JBM INTERNATIONAL LIMITED

18/04/1995

-

U34300DL1998PTC314334

JBM AUTO SYSTEM PRIVATE LIMITED

04/08/2011

-

U45201DL2003PTC120054

SATISH BUILDWELL PRIVATE LIMITED

03/03/2005

-

U29253HR2012PTC046397

JBM KANEMITSU PULLEYS PRIVATE LIMITED

15/07/2015

-

U74899DL1951GAP001947

PHD CHAMBER OF COMMERCE AND INDUSTRY

26/10/2017

-

U34201TN2011FTC079145

YOROZU JBM AUTOMOTIVE TAMIL NADU PRIVATE LIMITED

10/02/2011

-

U28113DL2011PTC212192

FJM CYLINDERS PRIVATE LIMITED

30/09/2016

-

U80302DL2009PTC190802

JBM CADMIUM PRIVATE LIMITED

02/06/2009

-

U27100DL2009PLC187584

JBM OGIHARA AUTOMOTIVE INDIA LIMITED

28/07/2010

-

U74899DL2006PTC144713

SHREEAUMJI DEVELOPERS SEZ PRIVATE LIMITED

30/09/2015

-

U29220PN2007PTC155874

JBM MA AUTOMOTIVE PRIVATE LIMITED

14/05/2009

-

U28121MH2007PTC253444

ROSE ENGINEERED PRODUCTS INDIA PRIVATE LIMITED

29/09/2017

-

 

 

Name :

Esha Arya

Designation :

Director

Address :

Neelanchal No. 7, Bandh Road, Chandanhulla, Chhatarpur, New Delhi – 110074, India

Date of Appointment :

01.11.2016

DIN No.:

00004836

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U34300DL1998PTC314334

JBM AUTO SYSTEM PRIVATE LIMITED

30/09/2015

-

L29130DL1987PLC027342

JAY BHARAT MARUTI LIMITED

19/08/2014

-

U34300DL2003PTC123285

NEEL AUTO PRIVATE LIMITED

30/09/2015

-

 

 

Name :

Mr. Nishant Arya

Designation :

Director

Address :

Neelanchal No.7, Bandh Road Chandanhulla Mahrauli, New Delhi – 110030, India

Date of Birth/Age :

01.11.1986

Date of Appointment :

24.09.2009

DIN No.:

00004954

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74140DL2011PTC227157

JBM CORPORATE SERVICES PRIVATE LIMITED

02/05/2013

-

U29253HR2012PTC047407

JBM CORNAGLIA EXHAUST SYSTEMS PRIVATE LIMITED

11/10/2012

-

U40300DL2013PTC249282

JBM RENEWABLES PRIVATE LIMITED

11/03/2013

-

U34300DL2016PTC315153

JBM SOLARIS ELECTRIC VEHICLES PRIVATE LIMITED

19/09/2016

-

U80302DL2009PTC190802

JBM CADMIUM PRIVATE LIMITED

02/06/2009

-

U27100DL2009PLC187584

JBM OGIHARA AUTOMOTIVE INDIA LIMITED

13/02/2009

-

U74140DL2008PTC172320

JBM ENVIRONMENT MANAGEMENT PRIVATE LIMITED

07/01/2008

-

U29220PN2007PTC155874

JBM MA AUTOMOTIVE PRIVATE LIMITED

12/12/2007

-

U28111TN2006PTC099679

ARCELOR NEEL TAILORED BLANK PRIVATE LIMITED

29/09/2008

-

U74140DL2003PTC118916

K R CHAWLA CONSULTING PRIVATE LIMITED

09/09/2014

-

U70101DL2002PTC117107

HN PROPERTIES PRIVATE LIMITED

09/09/2014

-

U60100DL1997PLC086432

NEEL METAL PRODUCTS LIMITED

01/07/2007

-

L74899DL1996PLC083073

JBM AUTO LIMITED

04/09/2009

-

L29130DL1987PLC027342

JAY BHARAT MARUTI LIMITED

30/08/2008

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Raj Kumar Maheshwari

Designation :

Manager and Chief Financial Officer

Address :

House No. 1493 Sector 10a Gurugram – 122001, Haryana, India

Date of Appointment :

24.04.2017

PAN No.:

ACAPM0214G

 

 

Name :

Mr. Rahul Chandak

Designation :

Company Secretary

Address :

1733, Sector-7E, Ground Floor, Faridabad – 121005, Haryana, India

Date of Appointment :

28.06.2016

PAN No.:

ASNPC9827G

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

 

No. of Shares

Neel Metal Products Limited

 

54765049

Nishant Arya

 

1

 

 

 

Total

 

54765050

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 28.09.2017

 

Category

Percentage

Promoters [Bodies corporate]

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing of components for automobiles. [Registered Activity]

 

 

Products / Services :

Name and Description of main products / services

NIC Code

Sheet Metal Components for Automobiles

8714

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

Customers :

 

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :

Banker Name :

HDFC Bank Limited

Branch :

HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

Facilities :

SECURED LOANS

31.03.2016

INR In Million

31.03.2015

INR In Million

LONG TERM BORROWINGS

 

 

Term loans from banks

263.144

199.259

 

 

 

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

152.500

40.000

Loans repayable on demand from banks

42.291

77.465

 

 

 

Total

457.935

316.724

 

 

Auditors :

 

Name :

Sahni Natarajan and Bahl

Chartered Accountants

Address :

303, Mansarovar, 90, Nehru Place, New Delhi – 110019, India

PAN No.:

AABFS5696R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding company [As on 2017] :

Neel Metal Products Limited

 

 

Fellow Subsidiary company [As on 2016] :

·         ANS Steel Tubes Limited

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives [As on 2016] :

·         V K Kapur

·         JBM Industries Limited

 

 

Others [As on 2016] :

·         Neel Foundation

·         Jay Bharat Maruti Limited

·         Arcelor Neel Tailored Blank Private Limited

·         JBM Cadmium Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 28.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

55000000

Equity Shares

INR 10/- each

INR 550.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

54765050

Equity Shares

INR 10/- each

INR 547.651 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

547.651

547.651

547.651

(b) Reserves & Surplus

291.712

201.978

152.472

(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)

839.363

749.629

700.123

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

263.144

199.259

320.987

(b) Deferred tax liabilities (Net)

159.676

190.125

145.903

(c) Other long term liabilities

1.950

0.000

0.000

(d) Long-term provisions

50.718

48.816

57.074

Total Non-current Liabilities (3)

475.488

438.200

523.964

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

963.038

526.180

670.811

(b) Trade payables

1432.116

1501.377

1410.165

(c) Other current liabilities

292.253

331.207

314.242

(d) Short-term provisions

5.645

10.200

54.448

Total Current Liabilities (4)

2693.052

2368.964

2449.666

 

 

 

 

TOTAL

4007.903

3556.793

3673.753

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2191.859

1903.067

1809.706

(ii) Intangible Assets

0.459

1.403

2.925

(iii) Capital work-in-progress

49.555

11.211

28.943

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1.000

1.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d) Long-term Loan and Advances

88.511

67.084

68.818

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

2331.384

1983.765

1910.392

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

402.070

396.978

323.481

(c) Trade receivables

1091.207

1046.118

1286.391

(d) Cash and cash equivalents

75.729

33.476

61.997

(e) Short-term loans and advances

106.143

95.258

89.991

(f) Other current assets

1.370

1.198

1.501

Total Current Assets

1676.519

1573.028

1763.361

 

 

 

 

TOTAL

4007.903

3556.793

3673.753

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

 

SALES

 

 

 

 

 

Income

9820.018

10287.991

9611.207

 

 

Other Income

35.102

44.652

29.042

 

 

TOTAL                                                

9855.120

10332.643

9640.249

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

6921.446

7491.632

6931.661

 

 

Changes in Inventories of finished goods, work-in-progress and stock-in-trade

(17.010)

(32.682)

6.838

 

 

Employee Benefits Expenses

1128.097

1027.896

929.792

 

 

CSR expenses

5.744

0.000

0.000

 

 

Other Expenses

1176.276

1156.406

1091.915

 

 

TOTAL                                    

9214.553

9643.252

8960.206

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

640.567

689.391

680.043

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

91.679

115.490

122.765

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

548.888

573.901

557.278

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                    

229.521

206.893

214.883

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX

319.367

367.008

342.395

 

 

 

 

 

Less

TAX                                                                 

31.892

125.285

91.736

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX

287.475

241.723

250.659

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

5.25

4.41

4.58

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2016

31.03.2015

31.03.2014

Current Maturities of Long term debt

168.615

200.894

186.712

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operations

513.689

913.282

463.949

Net cash flows from (used in) operating activities

446.515

818.501

413.899

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Average Collection Days

(Sundry Debtors / Income * 365 Days)

40.56

37.11

48.85

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

9.00

9.83

7.47

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

75.52

73.15

74.25

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

1.59

1.74

2.10

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.29

0.36

0.37

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.78

0.78

0.80

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.66

1.24

1.68

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

3.21

3.16

3.50

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

2.67

2.56

2.63

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

6.99

5.97

5.54

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2016

31.03.2015

31.03.2014

PAT to Sales

((PAT / Sales) * 100)

%

2.93

2.35

2.61

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

7.17

6.80

6.82

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

34.25

32.25

35.80

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Current Ratio

(Current Assets / Current Liabilities)

0.62

0.66

0.72

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.47

0.50

0.59

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.21

0.21

0.19

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

2.55

1.69

2.15

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

0.62

0.66

0.72

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

547.651

547.651

547.651

Reserves & Surplus

152.472

201.978

291.712

Share Application money pending allotment

0.000

0.000

0.000

Net worth

700.123

749.629

839.363

 

 

 

 

Long Term borrowings

320.987

199.259

263.144

Short Term borrowings

670.811

526.180

963.038

Current maturities of long term debt

186.712

200.894

168.615

Total borrowings

1178.510

926.333

1394.797

Debt/Equity ratio

1.683

1.236

1.662

 

 

 

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

9611.207

10287.991

9820.018

 

 

7.042

(4.549)

 

 

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

9611.207

10287.991

9820.018

Profit/(Loss)

250.659

241.723

287.475

 

2.61%

2.35%

2.93%

 

 

 

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

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

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

 

 

UNSECURED LOANS:

 

PARTICULARS

31.03.2016

INR In Million

31.03.2015

INR In Million

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

468.254

108.721

Other loans and advances

299.993

299.994

 

 

 

Total

768.247

408.715

 

 

INDEX OF CHARGES:

 

S

No

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G71753818

100142624

TATA CAPITAL FINANCIAL SERVICES LIMITED

13/11/2017

-

-

200000000.0

ONE FORBES,DR. V. B. GANDHI MARG, FORT, MUMBAI MH400001IN

2

G42800292

100094675

BAJAJ FINANCE LIMITED

06/04/2017

-

-

250000000.0

AKURDI PUNE-PUNEMA411035IN

3

G42801100

100094679

HDFC BANK LIMITED

30/03/2017

-

-

250000000.0

HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL (WEST) MUMBAI MH400013IN

4

C62651112

10588168

RBL BANK LIMITED

05/08/2015

-

-

50000000.0

SHAHUPURI,KOLHAPUR,KOLHAPURMH416001IN

5

G45732328

10588169

RBL BANK LIMITED

05/08/2015

17/02/2017

-

200000000.0

SHAHUPURI,KOLHAPUR, KOLHAPUR MA416001IN

6

C54136825

10570405

BAJAJ FINANCE LIMITED

30/04/2015

-

-

250000000.0

AKURDI PUNE-PUNE MH411035IN

7

G41963430

10483712

DBS BANK LIMITED

20/02/2014

14/02/2017

-

250000000.0

CAPITAL POINT, BABA KHARAK SINGH MARG CONNAUGHT PLACE, NEW DELHI DL110001IN

8

G35599968

10235642

YES BANK LIMITED

09/08/2010

27/01/2017

-

200000000.0

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI MUMBAI MH400018IN

9

G41982257

80002517

STANDARD CHARTERED BANK

21/06/2005

06/04/2017

-

314800000.0

NARAIN MANZIL, 23, BARAKHAMBA ROAD NEW DELHI DL110001IN

10

G55733935

10444225

HDFC BANK LIMITED

28/06/2013

26/08/2013

21/09/2017

200000000.0

HDFC BANK HOUSESENAPATI BAPAT MARG LOWER PAREL W MUMBAI MH400013IN

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Furniture and Fixture

·         Office Equipment

·         Computer

·         Vehicles

 

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 :

GYT

 

 

Analysis Done by :

PSD

 

 

Report Prepared by :

NKT

 

 

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)

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.