|
|
|
MIRA
INFORM REPORT
|
Report No. : |
500231 |
|
Report Date : |
28.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SETHIA OILS LIMITED |
|
|
|
|
Registered
Office : |
143, Cotton Street, Kolkata – 700007, West Bengal |
|
Tel. No.: |
91-33-22685738 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
24.03.1986 |
|
|
|
|
Com. Reg. No.: |
21-040396 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 26.250 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15316WB1986PLC040396 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0291011918 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
19AADCS7771E1Z2 |
|
|
|
|
TIN No: |
19200145081 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS7771E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject engaged in the business of manufacturing of edible rice
bran oil.
(Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1986. It is a manufacturer of
edible rice bran oil. As per the financial records of 2017, company has achieved a fair
growth of 13.76% in its revenue as compared to the previous year’s revenue
and has reported a low profitability margin of 0.98%. The company possesses healthy financial position marked by above
average net worth base along with strong debt coverage indicator due to
negligible debt balance sheet profile and average liquidity position. Rating takes into consideration the company’s long established track
record. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition
. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 28.03.2017.
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 BY
|
Name : |
Mr. Ashok Sethia |
|
Designation : |
Director |
|
Contact No.: |
91-9830054392 |
|
Date : |
26.03.2018 |
LOCATIONS
|
Registered Office : |
143, Cotton Street, Kolkata – 700007, West Bengal, India |
|
Tel. No.: |
91-33-22301001/ 2231/ 22314391/ 22314392/ 22685738 |
|
Mob. No: |
91-9830054392 (Mr. Ashok Sethia) |
|
Fax No.: |
91-33-22300248 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1: |
Pemra, Jotram, Burdwan -713 101, West Bengal, India |
|
Tel. No.: |
91-342-2541434 / 2541435 |
|
Fax No.: |
91-342-2541274 |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
India Exchange Place, Kolkata-700001, West Bengal, India |
|
Tel. No.: |
91-342-22301001/ 22305055/ 22314391/ 22314392 |
|
Fax No.: |
91-342-22300248 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Alok Sethia |
|||||||||||||||||||||||||
|
Designation : |
Managing director |
|||||||||||||||||||||||||
|
Address : |
5, Janki Shah Road, Kolkata – 700022, West Bengal, India |
|||||||||||||||||||||||||
|
Date of Birth/Age : |
01.01.1959 |
|||||||||||||||||||||||||
|
Qualification : |
B.COM |
|||||||||||||||||||||||||
|
PAN |
AMGPS 9788R |
|||||||||||||||||||||||||
|
Date of Appointment : |
09.10.1986 |
|||||||||||||||||||||||||
|
DIN No.: |
00082393 |
|||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||
|
Name : |
Mr. Ashok Sethia |
|||||||||||||||||||||||||
|
Designation : |
Whole-time director |
|||||||||||||||||||||||||
|
Address : |
5, Janki Shah Road, Kolkata – 700022, West Bengal, India |
|||||||||||||||||||||||||
|
Date of Birth/Age : |
10.05.1957 |
|||||||||||||||||||||||||
|
Qualification : |
B.COM |
|||||||||||||||||||||||||
|
PAN: |
AMAPS3957Q |
|||||||||||||||||||||||||
|
Date of Appointment : |
09.10.1986 |
|||||||||||||||||||||||||
|
DIN No.: |
00082365 |
|||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||
|
Name : |
Mr. Vijay Kumar Dujari |
|||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||
|
Address : |
18/2, Ballygunge Circular Road, Kolkata, 700019, West Bengal, India |
|||||||||||||||||||||||||
|
Date of Birth/Age : |
23.06.1959 |
|||||||||||||||||||||||||
|
Date of Appointment : |
25.06.2015 |
|||||||||||||||||||||||||
|
DIN No.: |
00392700 |
|||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||
|
Name : |
Mrs. Kamal Kumar Sethia |
|||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||
|
Address : |
38, Baranashi Ghosh Street, Kolkata, 700007, West Bengal, India |
|||||||||||||||||||||||||
|
Date of Birth/Age : |
01.11.1949 |
|||||||||||||||||||||||||
|
Qualification : |
B.COM |
|||||||||||||||||||||||||
|
Date of Appointment : |
25.06.2015 |
|||||||||||||||||||||||||
|
DIN No.: |
01117542 |
|||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||
|
Name : |
Mr. Dilip Sethia |
|||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||
|
Address : |
Lakhimpur Bypass Road, Sitapur-261001, Uttar Pradesh, India |
|||||||||||||||||||||||||
|
Date of Appointment : |
29.06.2017 |
|||||||||||||||||||||||||
|
DIN No.: |
00082057 |
|||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mrs. Alka Swami |
|
Designation : |
Practicing Company Secretary |
|
Address : |
11, R.N. Mukherjee Road, Nilhat House, Ground Floor, Kolkata – 700001,
West Bengal, India |
|
Mob. No: |
91-9748493294 |
|
Email: |
|
|
|
|
|
Name : |
Mr. Gopinath Khandelwal |
|
Designation : |
Secretary |
|
Address : |
5, Madan Chatterjee Lane, Kolkata – 700007, West Bengal, India |
|
Date of Birth/Age : |
25.12.1954 |
|
Date of Appointment : |
01.12.1988 |
|
PAN No. : |
AFSPK4190E |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Rishabh Sethia |
100000 |
|
Sethia Ashok |
143750 |
|
Sethia Alok |
87500 |
|
Sethia Madhulika |
100000 |
|
Sethia Manju |
262500 |
|
Sethia Namrata |
63750 |
|
Sethia Nita |
68750 |
|
Ashnit Sethia |
25000 |
|
Sethia Santosh |
43750 |
|
Sethia Kanchan |
218750 |
|
Sethia Singh Vijay |
125000 |
|
Sethia Dilip |
100000 |
|
Sethia Madhuri |
75000 |
|
Sethia Pradeep |
175000 |
|
Sethia Devi Pukhraj |
48750 |
|
Sethia Sanjeev |
106250 |
|
Sethia Kumar Sushil |
8750 |
|
Sethia Deepak |
62500 |
|
Sethia Kumar Vinay |
50000 |
|
Sethia Sumit |
155000 |
|
Bridhi Chand Sethia and Sons |
75000 |
|
Vijay Singh Sethia and Sons (HUF) |
75000 |
|
Sethia Anant |
17500 |
|
Sethia Akash |
18750 |
|
Sethia Nikhil |
45000 |
|
Vinay Kumar Sethia and Sons (HUF) |
118750 |
|
Sethia Yugesh |
17500 |
|
Deepak Sethia and Sons (HUF) |
37500 |
|
Alok Sethia (HUF) |
75000 |
|
Sushil Kumar Sethia and Sons (HUF) |
50000 |
|
Sethia Vikas |
50000 |
|
Sethia Nitisha |
25000 |
|
Total |
2625000 |
Equity Share Break up (Percentage of Total Equity)
As on: 26.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
8.81 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
91.19 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Subject engaged in the business of manufacturing of edible rice
bran oil.
(Registered Activity) |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Available |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
D.K. Chhajer and Company Chartered Accountants |
|
Address : |
Nilhat House, 11, R.N.Mukherjee Road, Kolkata – 700001, West Bengal, India |
|
Email: |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AADFD5743N |
|
|
|
|
Cost Auditors |
|
|
Name |
Sohanlal Jalan and Associates |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives |
Sethia Oils Industries Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2625000 |
Equity Shares |
INR 10/- each |
INR 26.250 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees 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 |
26.250 |
26.250 |
26.250 |
|
(b) Reserves and Surplus |
253.502 |
243.448 |
227.197 |
|
(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) |
279.752 |
269.698 |
253.447 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
4.661 |
6.205 |
|
(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) |
0.000 |
4.661 |
6.205 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
17.880 |
49.345 |
37.713 |
|
(b) Trade
payables |
2.782 |
7.989 |
2.240 |
|
(c) Other
current liabilities |
6.170 |
7.105 |
5.135 |
|
(d) Short-term
provisions |
82.526 |
76.783 |
58.014 |
|
Total Current
Liabilities (4) |
109.358 |
141.222 |
103.102 |
|
|
|
|
|
|
TOTAL |
389.110 |
415.581 |
362.754 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
75.728 |
37.423 |
43.853 |
|
(ii)
Intangible Assets |
0.974 |
1.233 |
0.993 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
1.732 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
41.228 |
61.806 |
61.806 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
119.662 |
100.462 |
106.652 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
10.000 |
10.831 |
55.923 |
|
(b)
Inventories |
156.912 |
184.012 |
104.886 |
|
(c) Trade
receivables |
16.297 |
27.325 |
16.067 |
|
(d) Cash and
bank balances |
2.643 |
22.719 |
19.306 |
|
(e)
Short-term loans and advances |
82.762 |
69.316 |
59.170 |
|
(f) Other
current assets |
0.834 |
0.916 |
0.750 |
|
Total
Current Assets |
269.448 |
315.119 |
256.102 |
|
|
|
|
|
|
TOTAL |
389.110 |
415.581 |
362.754 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1024.895 |
900.915 |
867.940 |
|
|
Other Income |
8.454 |
9.857 |
9.938 |
|
|
TOTAL |
1033.349 |
910.772 |
877.878 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
875.322 |
784.999 |
705.447 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
4.482 |
0.882 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.268) |
(58.654) |
(4.049) |
|
|
Employee benefit expense |
35.073 |
32.368 |
29.977 |
|
|
CSR expenditure |
0.000 |
1.601 |
0.000 |
|
|
Other expenses |
103.863 |
105.498 |
115.053 |
|
|
TOTAL |
1011.990 |
870.294 |
847.310 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
21.359 |
40.478 |
30.568 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.207 |
0.285 |
1.327 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
21.152 |
40.193 |
29.241 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
5.390 |
6.716 |
20.994 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
15.762 |
33.477 |
8.247 |
|
|
|
|
|
|
|
Less |
TAX |
5.708 |
10.907 |
2.468 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
10.054 |
22.570 |
5.779 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
188.345 |
172.094 |
166.315 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend |
0.000 |
5.250 |
0.000 |
|
|
Tax on Dividend |
0.000 |
1.069 |
0.000 |
|
|
Balance Carried to the B/S |
198.399 |
188.345 |
172.094 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
198.399 |
188.345 |
172.094 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.83 |
8.60 |
2.20 |
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 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
33.460 |
(39.063) |
(3.026) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
21.800 |
(47.710) |
(9.515) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days [Sundry Debtors
/ Income * 365] |
|
5.80 |
11.07 |
6.76 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
62.89 |
32.97 |
54.02 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors / Purchases
* 365] |
|
1.16 |
3.69 |
1.16 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.14 |
0.22 |
0.29 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.28 |
1.05 |
0.68 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio
[(Borrowing + Current Liabilities) / Total Assets] |
|
0.28 |
0.34 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.06 |
0.18 |
0.15 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.39 |
0.52 |
0.41 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.27 |
0.14 |
0.18 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
103.18 |
142.03 |
23.04 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
0.98 |
2.51 |
0.67 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
2.58 |
5.43 |
1.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
3.59 |
8.37 |
2.28 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio
[Current Assets / Current Liabilities] |
|
2.46 |
2.23 |
2.48 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.03 |
0.93 |
1.47 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.72 |
0.65 |
0.70 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.68 |
1.88 |
1.44 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
2.46 |
2.23 |
2.48 |
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 |
26.250 |
26.250 |
26.250 |
|
Reserves & Surplus |
227.197 |
243.448 |
253.502 |
|
Net
worth |
253.447 |
269.698 |
279.752 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
37.713 |
49.345 |
17.880 |
|
Total
borrowings |
37.713 |
49.345 |
17.880 |
|
Debt/Equity
ratio |
0.149 |
0.183 |
0.064 |
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 |
867.940 |
900.915 |
1024.895 |
|
|
|
3.799 |
13.762 |
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 |
867.940 |
900.915 |
1024.895 |
|
Profit/ (Loss) |
5.779 |
22.570 |
10.054 |
|
|
0.67
% |
2.51
% |
0.98
% |
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) |
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 |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATION
During the year the processing of Rice Bran was lower at 30588 MT. as against 33594 MT last year. Similarly production of Rice Bran oil was lower at 8876 MT. as against 9354 MT. during the previous year.
The sales, however, were improved from INR 900.915 million in last year to INR 1024.895 million during the year due to higher rates of Oil and Deoiled Rice Bran. The profit before tax declined to INR 15.762 million as compared to INR 33.477 million last year. The Exports also recorded a fall from INR 139.088 million last year to INR 55.885 million during the year. There has been no change in the business of the Company during the year.
FUTURE OUT LOOK
The Company has signed a Bipartite settlement with the Workers union for 3 years effective from 01.07.2017 to 30.06.2020. GST has been implemented in the country from 01.07.2017 and this is expected to eliminate the unfair competition from unscrupulous businessmen who do not pay taxes. The Company’s refined rice bran oil is now being exported to Japan. Export of Deoiled Rice Bran to Vietnam has also resumed .The Company has also started export of Rice Bran Wax to China. Efforts are being made for improving capacity utilization of the plant and exploring new markets for the products of the Company.
GENERAL INFORMATION
The Company is engaged in the business of manufacturing of edible rice bran oil. Incorporated on 24.03.1986, the Company has its registered office at Kolkata with manufacturing unit in Burdwan, in India. The Company is an unlisted public limited Company.
INDEX OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B88216593 |
80028539 |
STATE BANK OF INDIA |
12/08/1999 |
01/10/2013 |
- |
49000000.0 |
SME Branch, Burdwan, Court Compound, Burdwan - 713101, West Bengal, India |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Claims against company not acknowledged as debt |
447.591 |
356.282 |
|
Guarantees |
4.359 |
4.359 |
FIXED ASSETS:
- Freehold Land
- Building –
Factory
- Building –
Others
- Plant and
Machinery
- Furniture and
Fixtures
- Vehicles
- Office
Equipments
- Computers
- Pollution
Control Equipment
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 64.91 |
|
|
1 |
INR 91.87 |
|
Euro |
1 |
INR 80.26 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.