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|
|
MIRA
INFORM REPORT
|
Report No. : |
499201 |
|
Report Date : |
24.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
PROGRESSIVE EXIM LIMITED |
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|
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Registered
Office : |
Shanti Sada 1-Maidan Path, Choubey Colony, Raipur-492001, Chattisgarh |
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Mob. No.: |
91-8966001384 [Mr. Arunav] |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
14.09.1998 |
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Com. Reg. No.: |
10-013060 |
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Capital
Investment / Paid-up Capital : |
INR 32.742 Million |
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|
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CIN No.: [Company Identification
No.] |
U51101CT1998PLC013060 |
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IEC No.: |
Not Divulged |
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GST No.: |
22AACCP2445D1Z0 |
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TIN No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AACCP2445D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
· Manufacturer and Exporter of Exotic Facts. [Confirmed by Management] · Manufacturing and Trading of Exotic Fats, all kinds of Oil Seeds, Oils and its by-products. [Registered Activity] |
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|
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No. of Employees
: |
50 (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 |
|
Maximum Credit Limit : |
USD 508700 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1998. It is a manufacturer and
exporter of Exotic Facts. Management has failed to file its financials with Registrar of
Companies for the FY 2017. For the financial year 2016, there has been minimal increase in its
revenue by 0.39% along with profit margin of 0.38%. The satisfactory financial profile of the company is marked by
sufficient networth base along with comfortable debt coverage indicators. The rating takes into consideration the subject’s long established
track record of business operations along with extensive experience of its
promoters. However, rating strengths are partially offset by unfavouarble gap
between trade payables and trade receivables and absence of latest
financials. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade term 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 |
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 24.03.2018.
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. Arunav |
|
Designation : |
Export Manager |
|
Contact No.: |
91-8966001384 |
|
Date : |
22.03.2018 |
LOCATIONS
|
Registered Office : |
Shanti Sada 1-Maidan Path, Choubey Colony, Raipur-492001, Chattisgarh,
India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9329591163 [Mr. Anil Shrishrimal] 91-8966001384 [Mr. Arunav] |
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Fax No.: |
91-771-4216600 |
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E-Mail : |
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Location : |
Owned |
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Locality : |
Commercial |
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Factory : |
3-4, Bhanpuri Industrial Area, Raipur-492001, Chattisgarh, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Amit Kumar Shrishrimal |
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Designation : |
Director |
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Address : |
H.No. 31, M.B. Building Gandhi Chowk, Mahasamund-493445, Chattisgarh, India |
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Date of Birth/Age : |
09.01.1978 |
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Qualification : |
Graduate |
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Date of Appointment : |
11.02.2000 |
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PAN No.: |
AJGPS3916C |
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DIN No.: |
01323651 |
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Name : |
Mr. Sandeep Shrishrimal |
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Designation : |
Director |
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Address : |
A-2, Ashoka Crown Bldg Ashoka Park, Khamardih,
Raipur-492001, Chattisgarh, India |
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Date of Birth/Age : |
08.05.1973 |
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Qualification : |
Graduate |
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Date of Appointment : |
14.09.1998 |
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PAN No.: |
AJJPS4142H |
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DIN No.: |
01494193 |
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|||||||||||||||||||||||||
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Name : |
Mrs. Kusum Devi Shrishrimal |
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Designation : |
Director |
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Address : |
C-7 Ashoka Park Campus Shanker Nagar, Khamhardih,
Raipur-492007, Chattisgarh, India |
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Date of Birth/Age : |
14.01.1962 |
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Qualification : |
Graduate |
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Date of Appointment : |
11.12.2000 |
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PAN No.: |
AJGPS3917D |
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DIN No.: |
02395886 |
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KEY EXECUTIVES
|
Name : |
Mr. Arunav |
|
Designation : |
Export Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2016
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON: 30.09.2016
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
45.33 |
|
Promoters – Body Corporate |
25.04 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
5.40 |
|
Public/Other than promoters - Body Corporate |
24.23 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· Manufacturer and Exporter of Exotic Facts. [Confirmed by Management] · Manufacturing and Trading of Exotic Fats, all kinds of Oil Seeds, Oils and its by-products. [Registered Activity] |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· UK · Malaysia · France |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
Cash, Cheque and Others [NEFT, RTGS] |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Manufacturers
· Minor Forex Produce Trading, Chhattisgarh |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
· UCO Bank Main Branch, K.K. Road, Raipur - 492001, Chattisgarh, India · IDBI Bank Limited 104, R.B. Tower,, Samata Colony,, Raipur - 492001, Chhattisgarh, India |
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Facilities : |
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Financial Institutions : |
· Reliance Capital Limited "H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India · Tata Capital Financial Services Limited One Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India |
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Auditors : |
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Name : |
ADB and Company Chartered Accountants |
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Address : |
First Floor, Mahavir Gaushala Complex, Raipur, Chattisgarh, India |
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PAN No.: |
AAFFB2417B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and their
relatives : |
· A. R. Commodities Private Limited, India [U51109WB1992PTC054861] · AS Nutra Tech Private Limited, India [U15400MH2010PTC199732] · Mapss Fats and Proteins Private Limited, India [U15310CT2008PTC020754] · Progressive Agrotech Private Limited, India [U15310CT2008PTC020753] |
CAPITAL STRUCTURE
AS ON: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3300000 |
Equity Shares |
INR 10/- each |
INR 33.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3274150 |
Equity Shares |
INR 10/- each |
INR 32.742 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 |
32.742 |
32.742 |
32.742 |
|
(b) Reserves and Surplus |
145.310 |
140.225 |
133.994 |
|
(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) |
178.052 |
172.967 |
166.736 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
70.964 |
92.092 |
111.134 |
|
(b) Deferred tax liabilities (Net) |
12.995 |
14.465 |
14.081 |
|
(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) |
83.959 |
106.557 |
125.215 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
374.761 |
370.812 |
333.283 |
|
(b) Trade
payables |
64.795 |
35.840 |
29.417 |
|
(c) Other
current liabilities |
24.590 |
38.677 |
28.816 |
|
(d) Short-term
provisions |
16.812 |
15.760 |
9.791 |
|
Total Current
Liabilities (4) |
480.958 |
461.089 |
401.307 |
|
|
|
|
|
|
TOTAL |
742.969 |
740.613 |
693.258 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
97.682 |
111.743 |
107.866 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
1.027 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10.000 |
10.000 |
10.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
2.590 |
2.926 |
2.172 |
|
(e) Other
Non-current assets |
0.854 |
0.058 |
0.396 |
|
Total Non-Current
Assets |
112.153 |
124.727 |
120.434 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
457.229 |
443.430 |
404.726 |
|
(c) Trade
receivables |
73.044 |
58.523 |
89.777 |
|
(d) Cash and
bank balances |
15.014 |
12.125 |
12.317 |
|
(e)
Short-term loans and advances |
85.529 |
101.808 |
66.004 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
630.816 |
615.886 |
572.824 |
|
|
|
|
|
|
TOTAL |
742.969 |
740.613 |
693.258 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1327.216 |
1322.035 |
1309.685 |
|
|
Other Income |
0.973 |
1.005 |
1.116 |
|
|
TOTAL |
1328.189 |
1323.040 |
1310.801 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1176.771 |
1173.242 |
1152.914 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(19.968) |
(20.875) |
(11.719) |
|
|
Employee benefit expense |
24.353 |
20.951 |
20.497 |
|
|
Other expenses |
69.538 |
68.351 |
72.300 |
|
|
TOTAL |
1250.694 |
1241.669 |
1233.992 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
77.495 |
81.371 |
76.809 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
54.088 |
57.031 |
49.058 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
23.407 |
24.340 |
27.751 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.061 |
14.013 |
12.504 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
9.346 |
10.327 |
15.247 |
|
|
|
|
|
|
|
Less |
TAX |
4.262 |
3.962 |
5.895 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
5.084 |
6.365 |
9.352 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.55 |
1.94 |
2.86 |
|
PARTICULARS |
|
|
31.03.2017 |
|
Sales Turnover (Approximately) |
|
|
1200.00 |
|
|
|
|
|
Expected Sales (2017-2018): INR 1000.000 Million
The above information has been parted by Mr. Arunav [Export Manager]
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
19.937 |
28.611 |
23.798 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
80.062 |
60.372 |
58.908 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
75.643 |
56.795 |
58.908 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
20.09 |
16.16 |
25.02 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
18.17 |
22.59 |
14.59 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
20.10 |
11.15 |
9.31 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.17 |
0.18 |
0.19 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.79 |
0.73 |
0.71 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.77 |
0.79 |
0.77 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.62 |
2.84 |
2.81 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.70 |
2.67 |
2.41 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.55 |
0.65 |
0.65 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.43 |
1.43 |
1.57 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.38 |
0.48 |
0.71 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.68 |
0.86 |
1.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
2.86 |
3.68 |
5.61 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.31 |
1.34 |
1.43 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.36 |
0.37 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.24 |
0.23 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
14.22 |
15.01 |
14.30 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.31 |
1.34 |
1.43 |
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 |
32.742 |
32.742 |
32.742 |
|
Reserves & Surplus |
133.994 |
140.225 |
145.310 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
166.736 |
172.967 |
178.052 |
|
|
|
|
|
|
Long-term borrowings |
111.134 |
92.091 |
70.964 |
|
Short term borrowings |
333.283 |
370.812 |
374.761 |
|
Current maturities of
long-term debts |
23.798 |
28.611 |
19.937 |
|
Total
borrowings |
468.215 |
491.514 |
465.662 |
|
Debt/Equity
ratio |
2.808 |
2.842 |
2.615 |
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 |
1309.685 |
1322.035 |
1327.216 |
|
|
|
0.943 |
0.392 |
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 |
1309.685 |
1322.035 |
1327.216 |
|
Profit/ (Loss) |
9.352 |
6.365 |
5.084 |
|
|
0.71
% |
0.48
% |
0.38
% |
LEGAL CASES
NOTE: LITIGATION DETAILS FILE ATTACHED
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
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 four 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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
Yes |
|
34 |
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 |
B97405732 |
10480117 |
RELIANCE CAPITAL LTD |
31/01/2014 |
- |
- |
8559000.0 |
"H" BLOCK 1ST FLOORDhirubhai Ambani Knowledge City, KoparkhairneNavi MumbaiMH400710IN |
|
2 |
B70831748 |
10412032 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
05/02/2013 |
- |
- |
13277000.0 |
One Forbes,Dr. V. B. Gandhi Marg, FortMumbaiMH400001IN |
|
3 |
A99621823 |
10270430 |
IDBI BANK LIMITED |
09/08/2010 |
- |
- |
6000000.0 |
104, R.B. TOWER,SAMATA COLONY,RAIPURCT492001IN |
|
4 |
A97737860 |
10270427 |
IDBI BANK LIMITED |
09/08/2010 |
- |
- |
94000000.0 |
104, R.B. TOWER,SAMATA COLONY,RAIPURCT492001IN |
|
5 |
A97738017 |
10270429 |
IDBI BANK LIMITED |
09/08/2010 |
- |
- |
5225000.0 |
104, R.B. TOWER,SAMATA COLONY,RAIPURCT492001IN |
|
6 |
B27528587 |
10270426 |
IDBI Bank |
09/08/2010 |
14/11/2011 |
- |
355000000.0 |
104, R. B. TOWER, SAMATA COLONYRAIPURCT492011IN |
|
7 |
A93620466 |
10236510 |
TATA CAPITAL LIMITED |
15/07/2010 |
- |
- |
8550000.0 |
ONE FORBESDR V B GANDHI MARG,FORTMUMBAIMH400001IN |
|
8 |
B76849470 |
10096006 |
PUNJAB NATIONAL BANK |
13/02/2008 |
14/06/2008 |
01/06/2013 |
212500000.0 |
PHOOL CHOWKRAIPURCT492001IN |
|
9 |
B76855493 |
10096003 |
PUNJAB NATIONAL BANK |
13/02/2008 |
- |
01/06/2013 |
25500000.0 |
PHOOL CHOWKRAIPURCT492001IN |
|
10 |
A56160443 |
10042968 |
UCO BANK |
05/02/2007 |
- |
13/02/2009 |
16000000.0 |
MAIN BRANCHK.K. ROADRAIPURCT492001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
49.929 |
67.120 |
|
Loans and advances from others |
12.544 |
9.615 |
|
Term loans from others |
3.114 |
0.000 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and advances, others |
0.000 |
370.812 |
|
Loans repayable on demand from banks |
128.083 |
0.000 |
|
|
|
|
|
Total |
193.670 |
447.547 |
CORPORATE INFORMATION
Progressive Exim Limited (the ?Company?) is a Public Limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956 (Now known as Companies Act, 2013). The company is engaged in Manufacturing and trading of Exotic Fats, all kinds of Oil Seeds, Oils and its by-products.
REVIEW OF PERFORMANCE:
During the year, the Company has registered net sales turnover of INR 1327.216 Million as compared to net sales of INR 1322.035 Million during the previous year representing Increase of 0.39%. The Company registered Net Profit of INR 5.084 Million during the year as compared to net profit of INR 6.367 Million respectively during the previous year.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
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 65.13 |
|
UK Pound |
1 |
INR 91.96 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHR |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
IND |
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 |
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.