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MIRA INFORM REPORT
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Report No. : |
499708 |
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Report Date : |
26.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SATIA INDUSTRIES LIMITED (w.e.f.11.08.2008) |
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Formerly Known
As : |
SATIA PAPER MILLS LIMITED |
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Registered Office
: |
Village Rupana, Malout-Muktsar Road, Muktsar – 152032, Punjab |
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Tel. No.: |
91-1633-262001/ 215/ 263585 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
26.11.1980 |
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Com. Reg. No.: |
16-004329 |
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Capital
Investment / Paid-up Capital : |
INR 100.000 Million |
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CIN No.: [Company Identification
No.] |
L21012PB1980PLC004329 |
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IEC No.: [Import-Export Code No.] |
1288025696 |
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GSTIN : [Goods & Service Tax Registration No.] |
03AACCS7233A1ZZ |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCS7233A |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of a) Writing and Printing Paper b) Generation of Power c) Trading activities in Cotton & Yarn, d) Agricultural & Plantation
Operations etc. (Registered
Activity) |
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No. of Employees
: |
1203 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 3925000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1980. It is a engaged in following business segments viz. Paper, Yarn, Cotton, Agriculture and Cogeneration of power for captive consumption. For the financial year 2017, the company has achieved 19.20% growth in its revenue as compared to previous year revenue and has maintained healthy profitability margin of 4.94% during the year under review. The sound financial profile of the company is marked by healthy 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. As per the unaudited quarterly financials of December 2017, the company has achieved revenue of INR 1638.254 million and has reported profit margin of 14.61%. However, these rating strengths are partially offset by unfavourable gap between trade payables and trade receivables. 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. Note1: The Company has not traded on BSE since last 30 days. Note2: The Board of Directors meeting held on 7th February 2016 has approved the scheme of merger of “T.C Spineers Private Limited” with “Satia Industries Limited” and latest information is available from any other sources. |
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 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Term loan = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
06.06.2017 |
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Rating Agency Name |
INDIA RATING |
|
Rating |
Fund Based Bank Facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
06.06.2017 |
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 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 PARTED BY
|
Name : |
Mr. Ashok Khurana |
|
Designation : |
Chief Financial Officer |
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Contact No.: |
91-9872661868 |
|
Date : |
22.03.2018 |
LOCATIONS
|
Registered Office/ Factory : |
Village Rupana, Malout-Muktsar Road, Muktsar – 152032, Punjab, India |
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Tel. No.: |
91-1633-263585/ 262215/ 262001 |
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Mobile No : |
91-9872661868 (Mr. Ashok Khurana) |
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Fax No.: |
91-1633-263499 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Locality: |
Industrial |
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Branch Office 1: |
613-615, Naurang House, 21 K.G. Marg, New Delhi – 110001, India |
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Branch Office 2: |
304, Navjeevan Complex, 29 Station Road, Jaipur – 302006, Rajasthan,
India |
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Branch Office 3: |
SCO 90-92, Sector 80 C, Madhya Marg, Chandigarh – 160018, Punjab,
India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Avinash Chander Ahuja |
|
Designation : |
Director |
|
Address : |
C-2/2533, Vasant Kunj, New Delhi-110070, India |
|
Date of Appointment : |
29.06.2015 |
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DIN No.: |
00327032 |
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Name : |
Mr. Rajinder Kumar Bhandari |
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Designation : |
Wholetime Director |
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Address : |
St. No. 4, Guru Angad Nagar, Kkp. Road, Near Madan Hotel, Muktsar-152026, Punjab, India |
|
Date of Appointment : |
28.05.2009 |
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DIN No.: |
00732588 |
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|
Name : |
Mr. Inderdev Singh |
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Designation : |
Director |
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Address : |
House No 268-A, Aggar Nagar, Ludhiana-141001, Punjab, India |
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Date of Appointment : |
14.05.2013 |
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DIN No.: |
00825892 |
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Name : |
Mr. Ajay Kumar Satia |
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Designation : |
Managing Director |
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Address : |
H.No 124 Sector-8A, Chandigarh-160009, Punjab, India |
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Date of Appointment : |
26.11.1980 |
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DIN No.: |
00850792 |
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|
Name : |
Mr. Surinder Kumar Arora |
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Designation : |
Director |
|
Address : |
# 342 Sector 2, Panchkula-134109, Haryana, India |
|
Date of Appointment : |
11.08.2011 |
|
DIN No.: |
01647525 |
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|
|
|
Name : |
Mr. Sharma Dinesh Chand |
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Designation : |
Director |
|
Address : |
425, Sector 37 Sector 39, Goutam Budh Nagar, Noida-201301, Uttar Pradesh, India |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
02460345 |
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|
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|
Name : |
Mr. Chirag Satia |
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Designation : |
Wholetime Director |
|
Address : |
124 Sector 8 A, Chandigarh-160022, Punjab, India |
|
Date of Appointment : |
13.02.2015 |
|
DIN No.: |
03426414 |
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|
|
|
Name : |
Mr. Arun Kumar Gupta |
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Designation : |
Additional Director |
|
Address : |
M-14, Kailash Colony, New Delhi – 110048, India |
|
Date of Appointment : |
08.02.2018 |
|
DIN No.: |
00371289 |
|
|
|
|
Name : |
Mr. Hardev Singh |
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Designation : |
Wholetime Director |
|
Address : |
C/O Satia Ipaper Mill, Muktsar, Malou Road, Muktsar - 152026, Punjab, India |
|
Date of Appointment : |
29.09.2017 |
|
DIN No.: |
07943672 |
|
|
|
|
Name : |
Ms. Priti Lal Shivhare |
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Designation : |
Additional Director |
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Address : |
W/O Mahendra Kumar Lal, D-11 Sipri, Indra Colony Saharanpur 247001 |
|
Date of Appointment : |
14.11.2017 |
|
DIN No.: |
08031894 |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Kumar Khurana |
|
Designation : |
Chief Finance Officer |
|
Address : |
H No9883, Street No 1, Bawa Colony, Muktsar-152026, Punjab, India |
|
Date of Appointment : |
05.08.2014 |
|
PAN No.: |
AFLPK2280E |
|
|
|
|
Name : |
Mr. Rakesh Kumar |
|
Designation : |
Company Secretary |
|
Address : |
820, Phase 2 Urban Estate, Dugri, Ludhiana-141013, Punjab, India |
|
Date of Appointment : |
06.03.2008 |
|
PAN No.: |
AGIPD8250B |
MAJOR SHAREHOLDERS
As on 31.12.2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter &
Promoter Group |
4965227 |
49.65 |
|
|
(B) Public |
5034773 |
50.35 |
|
|
Grand Total |
10000000 |
100.00 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF
THE PROMOTER AND PROMOTER GROUP
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
4965227 |
49.65 |
|
|
Ajay Satia |
2234799 |
22.35 |
|
|
Bindu Satia |
751094 |
7.51 |
|
|
Chirag Satia |
455165 |
4.55 |
|
|
Dhruv Satia |
673169 |
6.73 |
|
|
krishna satia |
212875 |
2.13 |
|
|
Priyanka Satia |
360000 |
3.60 |
|
|
Yachna satia |
258750 |
2.59 |
|
|
Ajay Satia HUF |
19375 |
0.19 |
|
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Sub Total A1 |
4965227 |
49.65 |
|
|
A=A1+A2 |
4965227 |
49.65 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name
of the Shareholders |
Total no. shares
held |
Shareholding %
calculated as per SCRR, 1957 As a % of |
|
|
B1) Institutions |
0.00 |
||
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
179071 |
1.79 |
|
|
Individual share capital in excess of INR 0.200 Million |
724945 |
7.25 |
|
|
Bhai Apinder Singh |
112750 |
1.13 |
|
|
Gurcharan Kaur |
110000 |
1.10 |
|
|
Jaskaran Singh |
106250 |
1.06 |
|
|
Jasminder Kaur |
106875 |
1.07 |
|
|
Any Other (specify) |
4130757 |
41.31 |
|
|
Adya Design Private Limited |
485319 |
4.85 |
|
|
Muktsar Fincap Private Limited |
1572800 |
15.73 |
|
|
RKB Sales Private Limited |
280869 |
2.81 |
|
|
SDS Cotton Private Limited |
1513285 |
15.13 |
|
|
White Gold Transport Private Limited |
247700 |
2.48 |
|
|
HUF |
24 |
0.00 |
|
|
Sub Total B3 |
5034773 |
50.35 |
|
|
B=B1+B2+B3 |
5034773 |
50.35 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of b) Writing and Printing Paper b) Generation of Power c) Trading activities in Cotton & Yarn, d) Agricultural & Plantation
Operations etc. (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 : |
· Sri Lanka · Nepal · Dubai · Bangladesh |
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Imports : |
|||||
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Products : |
Raw Material Machinery |
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Countries : |
· USA · Netherland |
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Terms : |
|||||
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Selling : |
Cash, Advance Payment, L/C and Others (NEFT/ RTGS) |
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Purchasing : |
Cash, Advance Payment, L/C and Others (NEFT/ RTGS) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
1203 (Approximately) |
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Bankers : |
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Facilities : |
Note 1 : The loans due to PNB, CBI AND IOB are secured by the first charge by way of equitable mortgage of company’s immovable properties, present and future, hypothecation of company’s movable assets, present and future in their favour on parripassu basis and further personally guaranteed by the Managing Director and a director of the company. Note 2 : The loans of PNB are further secured by pledge of 24 lacs equity shares held by the promoters Note 3 : Vehicle loans are secured by hypothecation of specific assets only. Note 4 : Installment for repayment of term loans due to be
paid in the next year amounting INR 346.478 Million (PY INR 310.209 Million)
has been treated as current liability and are not included as long term
liability. |
|
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Auditors : |
|
|
|
Name : |
Rakesh Bansal and Company Chartered Accountants |
|
|
Address : |
S.C.F.56, New Grain Market, Karnail Cinema Road, Muktsar-152026,
Punjab India |
|
|
Tel. No.: |
91-1633-262248/ 501234/ 262211 |
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Mobile No.: |
91-9814036621 |
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E-Mail : |
||
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
|
|
|
|
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|
Individual Owing directly
or indirectly substantial interest in the voting power of substantial
interest in the voting power of : |
· T.C. Spinners Private Limited · Satia Paper Mills Private Limited · Bhandari Export Industries Limited |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
220,00,000 |
Equity Shares |
INR 10/- each |
INR 220.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,00,000 |
Equity Shares |
INR 10/- each |
INR 100.00 Million |
|
|
|
|
|
a) The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-. Each holder of equity shares is entitled to one vote per share.
b) In the event of Liquidation of the company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts.
c) However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.
Reconciliation of Number of Shares Outstanding :
|
Equity Shares : |
31.03.2017 |
|
|
|
Number of Shares |
|
|
Number of Shares at the Beginning |
1,00,00,000 |
|
|
Add : Share Issued |
|
|
|
Number of Shares at
the End |
1,00,00,000 |
|
Details of shares
held by shareholders holding more than 5% of the aggregate shares in the
Company
|
Equity Shares : |
31.03.2017 |
|
|
Equity Shares of Rs
10 each fully paid |
Number of Shares |
Amount (INR Million) |
|
Sh. Ajay Satia |
2234799 |
22.35% |
|
Smt. Bindu Satia |
751094 |
7.51% |
|
Sh. Anil Satia |
- |
0.00% |
|
Mr. Ankit Satia |
- |
0.00% |
|
Mr. Dhruv Satia |
673169 |
6.73% |
|
S.D.S Cotton (P) Ltd |
1513285 |
15.13% |
|
Muktsar Logistics and Trading (P) Ltd |
1572800 |
15.73% |
Notes: As per records of
the company, including its register of shareholders/members and other declarations
received from shareholders regarding beneficial interest, the above
shareholding represents both legal and beneficial ownership of shares.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
100.000 |
100.000 |
100.000 |
|
(b) Reserves & Surplus |
1273.995 |
944.976 |
813.800 |
|
(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 |
1373.995 |
1044.976 |
913.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
876.252 |
1053.007 |
1110.232 |
|
(b) Deferred tax liabilities (Net) |
33.110 |
19.387 |
49.764 |
|
(c) Other long term
liabilities |
913.731 |
856.137 |
803.060 |
|
(d) long-term
provisions |
64.702 |
70.914 |
62.617 |
|
Total Non-current
Liabilities |
1887.795 |
1999.445 |
2025.673 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
744.116 |
848.478 |
552.540 |
|
(b) Trade
payables |
295.876 |
284.567 |
313.657 |
|
(c) Other current
liabilities |
528.187 |
408.049 |
266.668 |
|
(d) Short-term
provisions |
4.185 |
17.588 |
1.690 |
|
Total Current
Liabilities |
1572.364 |
1558.682 |
1134.555 |
|
|
|
|
|
|
TOTAL |
4834.154 |
4603.103 |
4074.028 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2908.556 |
2501.018 |
2041.833 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
98.793 |
233.562 |
447.465 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
35.500 |
71.700 |
71.700 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3042.849 |
2806.280 |
2560.998 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
289.498 |
594.663 |
519.763 |
|
(c) Trade
receivables |
1048.837 |
977.085 |
752.170 |
|
(d) Cash
and cash equivalents |
76.832 |
50.532 |
55.798 |
|
(e)
Short-term loans and advances |
131.191 |
48.279 |
87.668 |
|
(f) Other
current assets |
244.947 |
126.264 |
97.631 |
|
Total Current
Assets |
1791.305 |
1796.823 |
1513.030 |
|
|
|
|
|
|
TOTAL |
4834.154 |
4603.103 |
4074.028 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
5168.670 |
4336.068 |
3931.332 |
|
|
Other Income |
29.093 |
164.810 |
50.812 |
|
|
TOTAL
|
5197.763 |
4500.878 |
3982.144 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2231.914 |
1895.697 |
1720.566 |
|
|
Purchases of Stock-in-Trade |
71.659 |
336.695 |
120.536 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
81.218 |
(37.491) |
(52.238) |
|
|
Employees benefits expense |
356.888 |
275.140 |
236.561 |
|
|
Other expenses |
1533.970 |
1330.770 |
1262.531 |
|
|
Extraordinary Items |
10.598 |
15.795 |
0.991 |
|
|
TOTAL |
4286.247 |
3816.606 |
3288.947 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
911.516 |
684.272 |
693.197 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
243.295 |
251.005 |
163.478 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
668.221 |
433.267 |
529.719 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
399.217 |
332.481 |
529.866 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
269.004 |
100.786 |
(0.147) |
|
|
|
|
|
|
|
Less |
TAX |
13.723 |
(30.376) |
(78.559) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
255.281 |
131.162 |
78.412 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
930.632 |
799.458 |
733.093 |
|
|
|
|
|
|
|
Add |
Add Excess DDT Provision Reversed |
0.000 |
0.012 |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend |
20.000 |
0.000 |
10.000 |
|
|
Tax on Dividend |
4.185 |
0.000 |
2.047 |
|
|
Total
(M) |
24.185 |
0.000 |
12.047 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
1161.728 |
930.632 |
799.458 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Writing & Printing Paper |
65.155 |
3.426 |
0.015 |
|
|
TOTAL
EARNINGS |
65.155 |
3.426 |
0.015 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
110.452 |
301.019 |
173.395 |
|
|
Components and Stores parts |
35.666 |
8.547 |
8.940 |
|
|
Capital Goods |
26.181 |
32.985 |
181.936 |
|
|
TOTAL
IMPORTS |
172.299 |
342.551 |
364.271 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
25.530 |
13.120 |
7.840 |
Expected Sales (2017-2018): INR 6000.000 Million (Due to business
growth)
The above information has been parted by Mr. Ashok Khurana (Chief
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 |
NA |
NA |
NA |
|
Cash generated from operations |
1001.350 |
426.543 |
51.528 |
|
Net cash flows from (used in) operating activity |
990.752 |
425.919 |
0.000 |
QUARTERLY
RESULTS
|
Particulars |
(Unaudited) Quarter Ended
30.06.2017 |
(Unaudited) Quarter Ended
30.09.2017 |
(Unaudited) Quarter Ended
31.12.2017 |
|
|
|
|
|
|
Net Sales |
1489.770 |
1336.470 |
1638.250 |
|
Total Expenditure |
1290.460 |
1109.580 |
1418.820 |
|
PBIDT (Excl OI) |
199.310 |
226.890 |
219.430 |
|
Other Income |
100.770 |
101.460 |
203.470 |
|
Operating Profit |
300.080 |
328.350 |
422.900 |
|
Interest |
62.470 |
58.880 |
56.600 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
237.610 |
269.470 |
366.300 |
|
Depreciation |
103.040 |
115.080 |
116.370 |
|
Profit Before Tax |
134.570 |
154.390 |
249.930 |
|
Tax |
29.370 |
17.930 |
10.430 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
105.200 |
136.460 |
239.500 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
105.200 |
136.460 |
239.500 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
74.07 |
82.25 |
69.83 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.93 |
4.44 |
5.23 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
46.88 |
46.53 |
62.18 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
3.15 |
1.15 |
1.33 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.30 |
0.25 |
0.28 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.51 |
0.57 |
0.55 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.18 |
1.82 |
1.82 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
1.14 |
1.49 |
1.24 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
2.19 |
2.62 |
2.72 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.75 |
2.73 |
4.24 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
4.94 |
3.02 |
1.99 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.28 |
2.85 |
1.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
18.58 |
12.55 |
8.58 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.14 |
1.15 |
1.33 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.96 |
0.77 |
0.88 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.28 |
0.23 |
0.22 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
16.20 |
19.01 |
16.63 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.14 |
1.15 |
1.33 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Share Capital |
100.000 |
100.000 |
100.000 |
|
Reserves & Surplus |
813.800 |
944.976 |
1273.995 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
913.800 |
1044.976 |
1373.995 |
|
|
|
|
|
|
long-term borrowings |
1110.232 |
1053.007 |
876.252 |
|
Short term borrowings |
552.540 |
848.478 |
744.116 |
|
Total
borrowings |
1662.772 |
1901.485 |
1620.368 |
|
Debt/Equity
ratio |
1.820 |
1.820 |
1.179 |
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 |
3931.332 |
4336.068 |
5168.670 |
|
|
|
10.295 |
19.202 |
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 |
3931.332 |
4336.068 |
5168.670 |
|
Profit |
78.412 |
131.162 |
255.281 |
|
|
1.99% |
3.02% |
4.94% |
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 |
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 |
Yes |
|
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 |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
Yes |
|
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 |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The Company is presently dealing in the following business a) Manufacturer of Writing and Printing Paper b) Generation of Power c) Trading activities in Cotton & Yarn, d) Agricultural & Plantation Operations etc.
CORPORATE OVERVIEW
Satia Industries Limited operates in following business segments viz. Paper, Yarn, Cotton, Agriculture and Cogeneration of power for captive consumption.
OPERATIONAL REVIEW
Paper Industry in India did well during the year ended
31.03.2017 and that is also reflected in the operation of the company. During
the financial year 2016-17, Total production of paper of the Company was
103588.5 MTs higher by 14.79% as compared to 90242.8 MT of last year. Net
revenue of the Company from operation was INR 5168.670 Million as compared to
INR 4336.067 Million during the corresponding period of previous year 2015-16.
The net profit after tax of the Company is INR 255.281 Million as compared to
INR 131.162 Million for the previous year.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G73002396 |
100145243 |
PUNJAB NATIONAL BANK |
03/11/2017 |
- |
75000000.0 |
KACHA FEROZEPUR ROAD,MAIN BRANCH, MUKTSAR -152026IN |
|
2 |
G55180921 |
100125851 |
CENTRAL BANK OF INDIA |
28/09/2017 |
- |
210000000.0 |
ABOHAR ROAD, MUKTSAR-152026, PUNJAB, INDIA |
|
3 |
G46436119 |
100104250 |
CENTRAL BANK OF INDIA |
16/06/2017 |
- |
60000000.0 |
ABOHAR ROAD, MUKTSAR-152026, PUNJAB, INDIA |
|
4 |
G41014010 |
100089662 |
PUNJAB NATIONAL BANK |
18/02/2017 |
- |
482500000.0 |
MAIN BRANCH, KACHA FEROZEPUR ROAD, MUKTSAR-152026IN |
|
5 |
G06204218 |
100034612 |
CENTRAL BANK OF INDIA |
06/05/2016 |
- |
104000000.0 |
ABOHAR ROAD, MUKTSAR-152026, PUNJAB, INDIA |
|
6 |
C69151983 |
10600606 |
ANDHRA BANK |
15/10/2015 |
- |
105000000.0 |
T.M.H. PLAZA, BYEPASS CHOWK-KOTKAPURA ROAD, MUKTSAR-152026IN |
|
7 |
C47173158 |
10555902 |
PUNJAB NATIONAL BANK |
03/03/2015 |
- |
220000000.0 |
KACHA FEROZEPUR ROAD,MAIN BRANCH, MUKTSAR -152026IN |
|
8 |
C43841634 |
10549592 |
PUNJAB NATIONAL BANK |
31/12/2014 |
- |
120000000.0 |
MAIN BRANCH, KACHA FEROZEPUR ROAD, MUKTSAR-152026IN |
|
9 |
C47180039 |
10488542 |
PUNJAB NATIONAL BANK |
31/03/2014 |
03/03/2015 |
2865300000.0 |
KACHA FEROZEPUR ROAD,MAIN BRANCH, MUKTSAR -152026IN |
|
10 |
C47181532 |
10488338 |
PUNJAB NATIONAL BANK |
31/03/2014 |
03/03/2015 |
2865300000.0 |
KACHA FEROZEPUR ROAD,MAIN BRANCH, MUKTSAR -152026IN |
CONTINGENT
LIABILITIES:
(INR
in million)
|
Particulars |
31.03.2017 (INR In Million) |
31.03.2016 (INR In Million) |
|
Bank Guarantee |
138.098 |
212.361 |
|
Excise & Custom Duty demand in dispute |
0.557 |
0.383 |
|
Customs Duty in respect of Export Obligation |
3.096 |
0.188 |
|
Corporate Guarantee in favor of UCO Bank on behalf of T.C
Spinners Private Limited (Outstanding balance INR 53.600 Million) |
0.000 |
53.600 |
STATEMENT OF STANDALONE UNAUDITED FINANCIAL
RESULTS FOR THE QUARTER ENDED 31.12.2017
(INR In million)
|
Particulars |
Quarter ended |
Quarter ended |
Nine Months ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
Income from Operations |
|
|
|
|
Revenue from Operations |
1638.254 |
1336.467 |
4464.493 |
|
Other Income |
203.470 |
101.462 |
405.706 |
|
Total Income from
operations (net) |
1841.724 |
1437.929 |
4870.199 |
|
|
|
|
|
|
|
|
|
|
|
Expenses |
|
|
|
|
(a) Cost of Material Consumed |
596.164 |
495.485 |
1701.407 |
|
(b) Purchase of stock in trade |
1.910 |
0.000 |
98.936 |
|
(c) Changes in inventories of finished goods, work in
progress and stock in trade |
89.234 |
1.643 |
(15.148) |
|
(d) Excise duty |
0.000 |
0.000 |
79.689 |
|
(e) Employee benefit expenses |
99.418 |
90.226 |
280.707 |
|
(f) Depreciation and amortization expenses |
116.373 |
115.082 |
334.492 |
|
(g) Other Expenses |
632.096 |
522.222 |
1673.277 |
|
(f) Finance costs |
56.596 |
58.884 |
177.945 |
|
Total Expenses |
1591.791 |
1283.542 |
4331.305 |
|
|
|
|
|
|
Profit/ (Loss) before tax |
249.933 |
154.387 |
538.894 |
|
Tax Expenses |
|
|
|
|
Current Tax |
27.338 |
0.000 |
27.338 |
|
Deferred Tax |
(16.914) |
17.928 |
30.385 |
|
Total Tax Expenses |
10.424 |
17.928 |
57.723 |
|
|
|
|
|
|
Net Profit/ (Loss) for the period |
239.509 |
136.459 |
481.171 |
|
|
|
|
|
|
Other comprehensive income, net of income
tax |
|
|
|
|
Items that will
not be |
(0.840) |
(0.841) |
(2.522) |
|
Income tax
relating to items that will not be reclassified to profit and loss |
0.291 |
0.291 |
0.873 |
|
Total comprehensive income for the period |
238.960 |
135.909 |
479.522 |
|
Paid- up Equity
Share Capital (share – INR 10) |
100.000 |
100.000 |
100.000 |
|
Earnings per
share (not annualized for quarter and half years) |
|
|
|
|
Basic |
23.95 |
13.62 |
48.12 |
|
Diluted |
23.95 |
13.62 |
48.12 |
REPORTING
OF SEGMENT REVENUE, RESULTS S, ASSETS AND LIABILITIES
|
Particulars |
Quarter ended |
Quarter ended |
Nine Months ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
A) Segment Revenue |
|
|
|
|
Paper |
1540.618 |
1332.775 |
4361.784 |
|
Yarn & Cotton |
90.239 |
3.691 |
93.930 |
|
Co-Generation Division |
357.053 |
185.390 |
717.054 |
|
Agriculture |
1.623 |
0.000 |
3.005 |
|
Solar Division |
5.774 |
0.000 |
5.774 |
|
Total |
1995.307 |
1521.856 |
5181.547 |
|
Less: Inter Segment Revenue |
357.053 |
185.390 |
717.054 |
|
Net sales/income
from Operations |
1638.254 |
1336.467 |
4464.493 |
|
|
|
|
|
|
B) Segment Results |
|
|
|
|
Inter Segment Revenue |
|
|
|
|
Paper |
52.486 |
108.924 |
289.283 |
|
Yarn & Cotton |
(2.598) |
(0.498) |
(3.096) |
|
Co-Generation Division |
236.523 |
78.354 |
366.971 |
|
Agriculture |
26.975 |
26.491 |
70.538 |
|
Solar Division |
(6.857) |
0.000 |
(6.857) |
|
Total |
306.529 |
213.271 |
716.839 |
|
Less: Interest |
56.596 |
58.884 |
177.945 |
|
Total Profit Before
Tax |
249.933 |
154.387 |
538.894 |
|
|
|
|
|
|
C) Segment Assets |
|
|
|
|
Paper |
3834.647 |
3940.570 |
3834.647 |
|
Yarn & Cotton |
114.313 |
130.948 |
114.313 |
|
Co-Generation Division |
850.316 |
924.892 |
850.316 |
|
Agriculture |
300.997 |
273.571 |
300.997 |
|
Solar Division |
273.830 |
0.000 |
273.830 |
|
Total |
5374.103 |
5269.981 |
5374.103 |
|
|
|
|
|
|
C) Segment
Liabilities |
|
|
|
|
Paper |
1514.573 |
1497.348 |
1514.573 |
|
Yarn & Cotton |
4.722 |
9.473 |
4.722 |
|
Co-Generation Division |
79.336 |
78.624 |
79.336 |
|
Agriculture |
0.439 |
0.563 |
0.439 |
|
Solar Division |
0.000 |
0.000 |
0.000 |
|
Total |
1599.07 |
1586.008 |
1599.07 |
Notes :
- The above results were reviewed by the Audit Committee and
thereafter have been adopted by the Board at its meeting held on February
08, 2018.
2. Post applicability of Goods and Services tax
(GST) with effect from July 1, 2017, Central Excise, Value Added Tax (VAT) etc.
have been subsumed into GST. In accordance with Indian Accounting Standard - 18
on Revenue and Schedule III of the Companies Act, 2013, unlike Excise Duties,
levies like GST, VAT etc. are not part of Revenue. Accordingly, the figures for
the periods upto 30 June 2017 are not strictly relatable to those thereafter.
The following additional information is being provided to facilitate such
understanding:
|
Particulars |
Quarter ended |
Nine Months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
Income from Operations |
|
|
|
|
Revenue from Operations |
1638.254 |
1336.467 |
4464.493 |
|
Excise duty |
0.000 |
0.000 |
79.689 |
|
Total Income from
operations (net) |
1638.254 |
1336.467 |
4384.804 |
Transition
to Indian Accounting standards (Ind AS)
The Company's financial statements for the
quarter ended December 31, 2017 are the interim financial statements prepared
in accordance with accounting standards notified under the Companies (Indian
Accounting Standards) Rules, 2015 (Ind AS). The adoption of Ind AS was carried
out in accordance with Ind AS 101, using April 1, 2016 as the transition date.
Ind AS 101 requires that all Ind AS standards and interpretations that are
effective for the first Ind AS financial statements for the quarter ended
December 31, 2017, be applied consistently and retrospectively for all fiscal
years presented. All applicable Ind AS have been applied consistently and
retrospectively wherever required. The resulting difference between the
carrying amounts of the assets and liabilities in the financial statements
under both Ind AS and previously applicable accounting principles (Previous
Indian GAAP) as at the transition date have been recognized directly in equity
at the transition date.
Exemptions
applied at transition :
Ind AS 101 (First-time Adoption of Indian
Accounting Standards) provides a suitable starting point for accounting in
accordance with Ind AS and is required to be mandatorily followed by first-time
adopters. Ind AS 101 allows first-time adopters exemptions from the
retrospective application of certain requirements under Ind AS. The Company has
applied the following significant exemptions in its standalone financial
results:
1. Property, Plant and Equipment: The Company
has elected to regard Previous Indian GAAP carrying amount as per GAAP as
deemed cost as at the date of transition.
2. In accordance with Ind-AS transitional
provisions, the company opted to determine whether an arrangement existing at
the date of transition contains a lease on the basis of facts and circumstances
existing at the date of transition rather than at the inception of the
arrangement.
The following reconciliations provide a
quantification of the effect of significant differences arising from the
transition from Previous Indian GAAP to Ind AS in accordance with Ind AS 101:
Explanations
for reconciliation of net profit
i. Under Ind-AS, guarantees issued are
recognized at fair value at inception and measured at the higher of the
amortized value or the obligation amount in case it is probable that the
guarantee amount is payable.
Under previous Indian GAAP, guarantee issued are
not recognized unless it is probable that the guarantee amount is payable.
ii. Under Ind AS, the borrowings are carried at
amortised cost using effective interest rate. Accordingly, the upfront
transaction cost which has been incurred by the company towards origination of
borrowings are deducted from the carrying amount of the borrowings on initial
recognition and subsequently recognised in profit and loss over the tenure of
borrowings as a part of the interest expense by using the effective interest
method.
Under previous
Indian GAAP, these transaction cost incurred in respect with borrowings were
charged to profit and loss as and when incurred.
iii. Under Ind-AS, loans are initially
recognized at fair value and measured using effective interest rate rate. The
company has given certain loans to its employees/key management personnel at
below market rate of interest. Under Ind AS these loans are measured at fair
value at inception and subsequently recognised at amortised cost using
effective interest rate method. The difference between market rate of interest
and contractual interest rate at inception is recognized in profit and loss
account as employee cost over the usage pattern of the loan.
Under previous Indian GAAP, such loans are
recognized at the contractual amount and interest cost is recognized based on
the contractual interest rate.
iv. Under Ind-AS, Capital grants received is
required to be accounted by setting up the grant as deferred grant income and
is recognised in profit or loss on a systematic basis over the useful life of
the underlying capital asset.
Under previous Indian GAAP, the Grant received
was deducted from the carrying amount of fixed assets and the depreciation is
charged on the net value.
v. Consequential deferred tax on all the above
adjustments.
vi. Under Ind-AS, All biological assets are
measured at fair value less costs to sell.
Under previous Indian GAAP, Biological assets
are measured at cost.
vii. Under Ind-AS, the actuarial gains and
losses on post retirement defined employee benefits are recognised in other
comprehensive income.
Under previous Indian GAAP, such actuarial gains
and losses were recognised in profit and loss account. viii. Under Ind-AS,
prior period errors are corrected retrospectively by restating the comparative
amounts for prior period presented in which error occurred or if the error
occurred before the earliest period presented, by restating the opening balance
sheet.
2. A limited review as required under regulation
33 of SEBI (Listing Obligation and Disclosure Requirement] Regulations, 2015
has been completed on the detailed financial results for the quarter ended 31
December 2017 filed with the Stock Exchanges. This report does not have any
impact on the 'Results and Notes' for the quarter ended 31 December 2017 which
needs to be explained.
FIXED ASSETS
- Land
- Plant and Machinery
- Turbine
- Building
- Electrical installation
- Office Equipment
- Furniture and fittings
- Vehicles
- Computers
- A.C, Fan and Cooler
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 65.13 |
|
|
1 |
INR 91.95 |
|
Euro |
1 |
INR 80.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
TRUP |
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 |
YES |
|
--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.