|
|
|
MIRA INFORM REPORT
|
Report No. : |
499814 |
|
Report Date : |
26.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
UNISON METALS LIMITED |
|
|
|
|
Registered
Office : |
Plot No 5015, Phase 4, Ramol Char Rasta, G I D C, Vatva, Ahmedabad - 382445 , Gujarat |
|
Tel. No.: |
91-79-25841512 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
29.06.1990 |
|
|
|
|
Com. Reg. No.: |
04-013964 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 32.042 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L52100GJ1990PLC013964 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
(Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined 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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1990 and it is engaged in
exporter, manufacturer and supplier of cold rolled stainless steel sheets,
stainless steel circle, S.S. sheets, and stainless steel utensils. As per financials of March 2017, the company has registered a growth
of 29.12% in its revenue as compared to its previous year’s revenue and has
reported minimal profit margin of 0.75%. Rating takes into consideration the company’s established track record
of business operations marked by sound net worth base along with average debt
coverage indicators and decent liquidity position. Rating also takes into account the extensive experience of its
promoters and established presence in steel industry. However, rating strength is partially offset by susceptibility of
operating profit margin to fluctuation in raw material prices and foreign
exchange rates. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating=BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
22.02.2018 |
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 (Tel. No.: 91-79-25841512)
LOCATIONS
|
Registered Office/ Works : |
Plot No 5015, Phase 4, Ramol Char Rasta, G I D C, Vatva, Ahmedabad - 382445 , Gujarat, India |
|
Tel. No.: |
91-79-25841512/ 25840542 |
|
Fax No.: |
91-79-25841743 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Tirth Uttam Mehta |
|
Designation : |
Managing Director |
|
Address : |
3- Chandramauleshwar Farm, Near Ekta Farm, Opposite Ashok Vatika, Ambli Bopal Road, Ahmedabad – 380058, Gujarat, India |
|
Date of Appointment : |
31.07.2010 |
|
DIN No.: |
02176397 |
|
|
|
|
Name : |
Mr. Mahesh Vishandas
Changrani |
|
Designation : |
Whole-time Director |
|
Address : |
5, Neelu Apartment, Maninagar (East), Ahmedabad – 380008, Gujarat, India |
|
Date of Appointment : |
16.11.2010 |
|
DIN No.: |
00153615 |
|
|
|
|
Name : |
Mr. Prakash Jaswantrai
Rajyaguru |
|
Designation : |
Director |
|
Address : |
78, Karnavati Society, Near CTM, Opposite Baroda Express, Ahmedabad – 380022, Gujarat, India |
|
Date of Appointment : |
28.03.2003 |
|
DIN No.: |
00174093 |
|
|
|
|
Name : |
Ms. Manishaben
Bipinchandra Panchal |
|
Designation : |
Director |
|
Address : |
D-154, Parswanath Township-2, B/H Krishnanagar Flat, Saijpur, Naroda Road, Ahmedabad – 382345, Gujarat, India |
|
Date of Appointment : |
28.06.2017 |
|
DIN No.: |
02047778 |
|
|
|
|
Name : |
Mr. Hans Vijender Mittal |
|
Designation : |
Director |
|
Address : |
‘Mittal House', B/H. Goyal Tower, Atira Road, Ahmedabad – 380015, Gujarat, India |
|
Date of Appointment : |
30.09.2016 |
|
DIN No.: |
02183775 |
KEY EXECUTIVES
|
Name : |
Mr. Rajeshkumar
Rameshwarlal Asawa |
|
Designation : |
Chief Financial Officer |
|
Address : |
4, L.R. Flats Co.Operative Housing Society, Near Shahibaug Crossing, Ahmedabad – 380004, Gujarat, India |
|
Date of Appointment : |
14.08.2015 |
|
PAN No.: |
ABNPA2745G |
|
|
|
|
Name : |
Harshal Samirbhai Agrawal |
|
Designation : |
Company Secretary |
|
Address : |
Block No.C, Flat No.55, Vidhya Nagar, Flats Ambavadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Appointment : |
31.03.2015 |
|
PAN No.: |
AHTPA5051D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2017
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as
a % of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter and Promoter
Group |
1715200 |
53.53 |
|
|
(B) Public |
1489000 |
46.47 |
|
|
Grand
Total |
3204200 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
No. of fully
paid up equity 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 |
915500 |
28.57 |
|
|
Pushpa Uttamchand Mehta |
295900 |
9.23 |
|
|
Tirth U Mehta |
292100 |
9.12 |
|
|
Tushar Uttamchand Mehta |
199900 |
6.24 |
|
|
Uttamchand Chandanmal
Mehta |
106200 |
3.31 |
|
|
Rekhaben Nareshbhai
Changrani |
6200 |
0.19 |
|
|
Maheshbhai Vishandas
Changrani |
5200 |
0.16 |
|
|
Uttamchand Chandanmal
Mehta HUF |
5000 |
0.16 |
|
|
Mukesh Devendra Shah |
4000 |
0.12 |
|
|
Trupti Shah |
1000 |
0.03 |
|
|
Any Other (specify) |
799700 |
24.96 |
|
|
Shelja Finlease Private
Limited |
468000 |
14.61 |
|
|
Tribhuvan Lease Finance
Private Limited |
331700 |
10.35 |
|
|
Sub Total A1 |
1715200 |
53.53 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
1715200 |
53.53 |
Statement showing
shareholding pattern of the Public shareholder
|
Category &
Name of the Shareholders |
No. of fully
paid up equity shares held |
Shareholding %
calculated as per SCRR, 1957 As a % of |
No. of equity shares
held in dematerialized form(Not Applicable) |
|
|
B1) Institutions |
0 |
0.00 |
||
|
B2) Central Government/
State Government(s)/ President of India |
0 |
0.00 |
||
|
B3) Non-Institutions |
0 |
0.00 |
||
|
Individual share capital upto
INR 0.200 Million |
557427 |
17.40 |
34427 |
|
|
Individual share capital
in excess of INR 0.200 Million |
595218 |
18.58 |
515818 |
|
|
Amit Omprakash Kabra |
63500 |
1.98 |
63500 |
|
|
Anubha Amit Kabra |
40000 |
1.25 |
40000 |
|
|
Jasavantbhai G Patel |
32400 |
1.01 |
32400 |
|
|
Kamla Sarda |
65000 |
2.03 |
65000 |
|
|
Mukti Lodha |
35000 |
1.09 |
35000 |
|
|
Sawita Omprakash Kabra |
59200 |
1.85 |
59200 |
|
|
Sureshkumar Motilal Ranka |
48000 |
1.50 |
48000 |
|
|
Swaroop Narain Kistur
Chand Jhanwar |
129918 |
4.05 |
129918 |
|
|
Yayaati Hasmukhray Nada |
42800 |
1.34 |
42800 |
|
|
Any Other (specify) |
336355 |
10.50 |
336355 |
|
|
Universal Metal Company
Limited |
207300 |
6.47 |
207300 |
|
|
Intech Project Service
Private Limited |
128500 |
4.01 |
128500 |
|
|
Clearing Members |
42 |
0.00 |
42 |
|
|
Bodies Corporate |
200 |
0.01 |
200 |
|
|
NRI |
103 |
0.00 |
103 |
|
|
HUF |
210 |
0.01 |
210 |
|
|
Sub Total B3 |
1489000 |
46.47 |
886600 |
|
|
B=B1+B2+B3 |
1489000 |
46.47 |
886600 |
BUSINESS DETAILS
|
Line of Business : |
(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 : |
Not Divulged |
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|
|
||||||
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Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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|
||||||||||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Kishan M. Mehta and Company Chartered Accountants |
|
Address : |
6, Premchand House Annexe, Old High Court Way, Ashram Road, Ahmedabad
– 380009, Gujarat, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises having
significant influence : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3250000 |
Equity Shares |
INR 10/- each |
INR 32.500 Million |
|
750000 |
Redeemable Preference Shares |
INR 10/- each |
INR 7.500 Million |
|
|
|
|
INR 40.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3204200 |
Equity Shares |
INR 10/- each |
INR 32.042
Million |
|
|
|
|
|
Reconciliation
of the shares outstanding at the beginning and at the end of the year
|
Equity
Share |
As at 31 March 2017 |
|
|
|
Nos. |
` |
|
Shares
outstanding at the beginning of the year |
3204200 |
32.042 |
|
Shares
Issued during the year |
-- |
-- |
|
Shares
bought back during the year |
-- |
-- |
|
Shares
outstanding at the end of the year |
3204200 |
32.042 |
Details
of shareholders holding more than 5% equity shares in the company
|
Name
of Shareholder |
As at 31 March 2017 |
|
|
Nos. |
% of Holding |
|
|
Shelja
Finlease Private Limited |
468000 |
14.61 |
|
Tribhuvan Lease Finance Private Limited |
331700 |
10.35 |
|
Pushpa
Mehta |
295900 |
9.23 |
|
Tirth
U.Mehta |
292100 |
9.12 |
|
Universal
Metal Company Limited |
207300 |
6.47 |
|
Tushar
U. Mehta |
199900 |
6.24 |
|
Prudent
Broking Services Private Limited |
192600 |
6.01 |
Terms/Rights
attached to Shares :
Each holder of Equity
Shares of face value of INR 10 each is entitled to one vote per share. The dividend
is declared and paid on being proposed by the Board of Directors after the
approval of the Shareholders in the ensuing Annual General Meeting.
In the event of liquidation
of the company the holders of equity shares will be entitled to remaining assets
of the company after payment or distribution of all liabilities. The
distribution to equity shareholders will be in proportion to the number of
Equity Shares held by the Shareholders.
FINANCIAL DATA
[all figures are
in 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 |
32.042 |
32.042 |
32.042 |
|
(b) Reserves & Surplus |
95.089 |
89.640 |
71.574 |
|
(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) |
127.131 |
121.682 |
103.616 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
75.285 |
53.377 |
33.857 |
|
(b) Deferred tax liabilities (Net) |
9.987 |
7.523 |
4.260 |
|
(c) Other long term
liabilities |
4.500 |
4.500 |
4.500 |
|
(d) Long-term
provisions |
0.887 |
0.598 |
0.950 |
|
Total Non-current
Liabilities (3) |
90.659 |
65.998 |
43.567 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
162.094 |
132.377 |
109.782 |
|
(b) Trade
payables |
131.152 |
79.383 |
51.621 |
|
(c) Other current
liabilities |
28.330 |
11.889 |
8.084 |
|
(d) Short-term
provisions |
2.191 |
3.069 |
1.419 |
|
Total Current
Liabilities (4) |
323.767 |
226.718 |
170.906 |
|
|
|
|
|
|
TOTAL |
541.557 |
414.398 |
318.089 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
105.937 |
79.997 |
71.422 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
10.786 |
3.581 |
0.114 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
52.111 |
51.751 |
40.537 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
93.778 |
108.842 |
34.905 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
5.091 |
|
Total Non-Current
Assets |
262.612 |
244.171 |
152.069 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
115.424 |
64.282 |
56.489 |
|
(c) Trade
receivables |
94.074 |
85.885 |
88.661 |
|
(d) Cash
and cash equivalents |
5.736 |
3.599 |
1.344 |
|
(e)
Short-term loans and advances |
53.301 |
9.332 |
17.210 |
|
(f) Other
current assets |
10.410 |
7.129 |
2.316 |
|
Total
Current Assets |
278.945 |
170.227 |
166.020 |
|
|
|
|
|
|
TOTAL |
541.557 |
414.398 |
318.089 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
723.230 |
560.143 |
499.775 |
|
|
Other Income |
11.032 |
21.629 |
3.244 |
|
|
TOTAL |
734.262 |
581.772 |
503.019 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
391.609 |
310.364 |
324.541 |
|
|
Trading Purchase |
13.358 |
22.481 |
57.568 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(23.659) |
4.061 |
(20.251) |
|
|
Employees benefits
expense |
20.900 |
17.588 |
18.100 |
|
|
Other expenses |
290.189 |
182.980 |
94.776 |
|
|
Exceptional Items |
0.000 |
(11.484) |
2.418 |
|
|
TOTAL |
692.397 |
525.990 |
477.152 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
41.865 |
55.782 |
25.867 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
24.613 |
21.121 |
12.871 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
17.252 |
34.661 |
12.996 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
9.430 |
10.722 |
8.876 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
7.822 |
23.939 |
4.120 |
|
|
|
|
|
|
|
Less |
TAX |
2.373 |
5.872 |
2.018 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
5.449 |
18.067 |
2.102 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
46.010 |
27.943 |
25.841 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
51.459 |
46.010 |
27.943 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1.193 |
0.000 |
1.537 |
|
|
TOTAL EARNINGS |
1.193 |
0.000 |
1.537 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.70 |
5.64 |
0.66 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current
Maturities of Long term debt |
|
|
|
|
Term Loan from Financial Institution-I |
3.072 |
3.072 |
0.000 |
|
Term Loan from Financial Institution-II |
0.729 |
0.000 |
0.000 |
|
Term Loan from Financial Institution-III |
2.035 |
0.000 |
0.000 |
|
Term Loan from Bank |
1.120 |
1.786 |
2.816 |
|
Term Loan from Non Banking Finance Company |
2.797 |
0.000 |
0.000 |
|
Term Loan from Bodies Corporate |
1.026 |
2.065 |
1.696 |
|
Bank Vehicle Loan |
0.000 |
0.000 |
1.736 |
|
Total |
10.779 |
6.923 |
6.248 |
|
Cash generated from operations |
4.744 |
(2.648) |
(35.949) |
|
Net cash flow from operating activity |
2.205 |
(4.022) |
(37.669) |
QUARTERLY RESULTS
|
Particulars |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Unaudited |
1st Quarter |
2nd Quarter |
3rd Quarter |
|
Net Sales |
184.590 |
179.960 |
139.470 |
|
Total Expenditure |
175.370 |
170.070 |
128.880 |
|
PBIDT (Excl OI) |
9.220 |
9.890 |
10.590 |
|
Other Income |
2.700 |
1.820 |
2.780 |
|
Operating Profit |
11.920 |
11.710 |
13.370 |
|
Interest |
7.390 |
7.440 |
8.060 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
4.530 |
4.280 |
5.310 |
|
Depreciation |
2.600 |
2.780 |
2.790 |
|
Profit Before Tax |
1.930 |
1.500 |
2.520 |
|
Tax |
0.930 |
(1.550) |
2.050 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
1.000 |
3.050 |
0.470 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
1.000 |
3.050 |
0.470 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
47.48 |
55.96 |
64.75 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
7.69 |
6.52 |
5.64 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
118.21 |
87.05 |
49.31 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.36 |
0.87 |
0.46 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.36 |
0.67 |
0.36 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.76 |
0.69 |
0.66 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.95 |
1.58 |
1.45 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.55 |
1.86 |
1.65 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.92 |
0.69 |
0.69 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.70 |
2.64 |
2.01 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
0.75 |
3.23 |
0.42 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.01 |
4.36 |
0.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.29 |
14.85 |
2.03 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.86 |
0.75 |
0.97 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.51 |
0.47 |
0.64 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.23 |
0.29 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
7.74 |
6.01 |
4.68 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.86 |
0.75 |
0.97 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 44.65/- |
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 |
32.042 |
32.042 |
32.042 |
|
Reserves & Surplus |
71.574 |
89.640 |
95.089 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
103.616 |
121.682 |
127.131 |
|
|
|
|
|
|
long-term borrowings |
33.857 |
53.377 |
75.285 |
|
Short term borrowings |
109.782 |
132.377 |
162.094 |
|
Current Maturities of
Long term debt |
6.248 |
6.923 |
10.779 |
|
Total borrowings |
149.887 |
192.677 |
248.158 |
|
Debt/Equity ratio |
1.447 |
1.583 |
1.952 |
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 |
499.775 |
560.143 |
723.230 |
|
|
|
12.079 |
29.115 |
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 |
499.775 |
560.143 |
723.230 |
|
Profit/(Loss) |
2.102 |
18.067 |
5.449 |
|
|
0.42% |
3.23% |
0.75% |
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 |
No |
|
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL HIGHLIGHTS:
The net profit before exceptional items and taxes is INR 7.822 Million (Previous Year INR 12.456 Million). The exceptional Item comprises of reversal of diminution in value of investment of INR 0.000 Million (previous year INR (11.483) Million) made in earlier years. So the net profit after taxes resulted into the profit for the year at INR 5.449 Million (Previous Year INR 18.067 Million).
In earlier year they were selling their goods through the business process of e- commerce. There is increase in such turnover, as the number of e-commerce business vendors increased with the increasing growth of ecommerce business. The company expects to increase the activity including the business through e commerce business.
The company is initiating series of innovation and improvement of product quality, to sustain the competition and to further the prospects of the company.
MANAGEMENT DISCUSSION
AND ANALYSIS
Industry Scenario
During the year the market conditions had ups and downs. The future
holds promise because of thrust given by the government and their own better
internal controls in the form of better management control within the
organisation. Their company is well poised to benefit from the emerging
opportunities to supply stainless steel sheets and products to industry and
general public respectively.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
From Directors |
5.308 |
3.552 |
|
From Bodies Corporate |
0.443 |
0.400 |
|
Total |
5.751 |
3.952 |
INDEX
OF CHARGES
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G54053368 |
100123970 |
SIDBI |
25/09/2017 |
- |
- |
10000000.0 |
First Floor, Navjivan Amrit Jayanti Bhavan, P.B.No.10, Navjivan Post Office, Ahmedabad GUJARAT 380014 INDIA |
|
2 |
G18447250 |
100056986 |
SIDBI |
26/10/2016 |
- |
- |
10000000.0 |
First Floor, Navjivan Amrit Jayanti Bhavan, P.B.No.10, Navjivan Post Office, Ahmedabad GUJARAT 380014 INDIA |
|
3 |
G07520919 |
100038589 |
HERO FINCORP LIMITED |
18/06/2016 |
- |
- |
20000000.0 |
34, COMMUNITY CENTRE, BASANT LOKVASANT VIHARNEW DELHIDe110057IN |
|
4 |
C46931911 |
10555529 |
Small Industries Development Bank of India |
18/03/2015 |
- |
- |
35000000.0 |
First Floor, Navjivan Amrit Jayanti Bhavan, P.B.No.10, Navjivan Post Office, Ahmedabad GUJARAT 380014 INDIA |
|
5 |
C29668548 |
10525907 |
Small Industries Development Bank of India |
20/10/2014 |
- |
- |
20000000.0 |
First Floor, Navjivan Amrit Jayanti Bhavan, P.B.No.10, Navjivan Post Office, Ahmedabad GUJARAT 380014 INDIA |
|
6 |
G39433990 |
10462420 |
CORPORATION BANK |
29/11/2013 |
23/03/2017 |
- |
169000000.0 |
OPPOSITE NEW MADHUPURA MARKETSHAHIBAUG ROAD AHMEDABAD GUJARAT 380004 INDIA |
|
7 |
B90175258 |
90102283 |
BANK OF BAORDA |
29/07/2003 |
13/10/2011 |
26/11/2013 |
67186000.0 |
VATVA INDUSTRIAL ESTATE BRANCH AHMEDABAD GUJARAT 382445 INDIA |
|
8 |
B12249439 |
90098772 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
29/01/1998 |
06/05/2008 |
18/04/2011 |
73000000.0 |
1 ST FLOOR,NAVJIVAN AMRIT JAYANTI BHAVAN,NAVJIVAN POST |
STANDALONE UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2017
(INR In Million)
|
PARTICULARS |
Quarter |
Nine months ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
|
|
|
|
|
Revenue From Operations |
139.467 |
179.956 |
504.007 |
|
Other Operating Income |
2.784 |
1.820 |
7.308 |
|
Total
Income |
142.251 |
181.776 |
511.315 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
97.777 |
113.255 |
328.611 |
|
Purchase of Stock in Trade |
0.849 |
6.684 |
0.000 |
|
Changes in inventories of finished goods and
work-in-progress |
(2.371) |
2.283 |
(29.528) |
|
Employee benefits expense |
6.707 |
6.381 |
19.324 |
|
Excise Duty |
0.035 |
(0.239) |
5.277 |
|
Finance Costs |
8.062 |
7.435 |
22.890 |
|
Depreciation and Amortization expenses |
2.787 |
2.777 |
8.160 |
|
Other Expenditure |
25.881 |
41.705 |
143.102 |
|
Total
Expenses |
139.727 |
180.281 |
497.836 |
|
Profit
/ (Loss) before Exceptional items and tax |
2.524 |
1.495 |
13.479 |
|
Exceptional Income |
0.000 |
0.000 |
0.000 |
|
Profit
/ (Loss) before Tax |
2.524 |
1.495 |
13.479 |
|
Tax Expense |
|
|
|
|
-Current tax |
0.660 |
0.325 |
1.310 |
|
-Deferred tax |
1.394 |
(1.878) |
0.116 |
|
Profit
/ (Loss) after Tax |
0.470 |
3.048 |
12.052 |
|
Other
Comprehensive Income |
|
|
|
|
Items that will not be reclassified to profit or loss |
(0.031) |
(0.031) |
(0.094) |
|
Income tax relating to items that will not be reclassified to profit and loss account |
0.009 |
0.009 |
0.028 |
|
Items that will be reclassified to profit or loss |
0.000 |
0.444 |
0.444 |
|
Income tax relating to item that will reclassified to profit and loss account |
0.000 |
(0.089) |
(0.089) |
|
Total comprehensive
income for the period |
0.448 |
3.381 |
12.342 |
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
32.042 |
32.042 |
32.042 |
|
Earnings per Share (EPS) - INR |
|
|
|
|
Basic
|
|
|
|
|
Diluted |
0.15 |
0.95 |
3.76 |
Notes:
- Above results have been reviewed by Audit committee and approved by board of directors as on meeting held on February 14, 2018.
- The Company has adopted Ind AS with effect from April 01, 2017, Therefore, Ind AS transition date is w.e.f. April 01, 2016 and for that purpose comparative figures for the corresponding quarters and Nine months ended are restated. Accordingly, the impact of transition has been provided and figures for that period
- Post applicability of Goods and Service Tax (GST w.e.f July 01, 2017, revenue from operations are disclosed net off GST. Accordingly, the revenue from operations arid excise duty expenses for the quarter and nine month ended December 31, 2017 are not comparable with the previous period presented in
- In line with Ind As -108 operating segments and basis of the review of operations being done by the senior Management, the operations of the group fall under Steel segment business which is considered to.
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Bank Guarantees |
0.492 |
0.492 |
|
Vat disputed in Appeal |
0.183 |
0.183 |
|
IncomeTax disputed in Appeal |
0.815 |
1.396 |
FIXED ASSETS
- Leasehold Land
- Factory Building
- Office Building
- Plant and Machinery
- Electric Installation
- Furniture and Fixtures
- Computers
- Office Equipments
- Vehicles
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 : |
SVA |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SUD |
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 |
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.