|
|
|
MIRA INFORM REPORT
|
Report No. : |
499772 |
|
Report Date : |
28.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
BENTEC INDIA LIMITED (w.e.f.26.03.2013) |
|
|
|
|
Formerly Known
As : |
BENTEC
INDIA PRIVATE LIMITED (w.e.f.01.12.2011) BENTEC
ELECTRICALS AND ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5/C, Chetla Central Road, Kolkata – 700027, West Bengal |
|
Tel. No.: |
91-33-24017421 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
15.10.1987 |
|
|
|
|
Com. Reg. No.: |
21-043163 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 94.133 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200WB1987PLC043163 |
|
|
|
|
IEC No.: |
0201015366 |
|
|
|
|
GST No : |
19AABCB0647G1ZW |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB0647G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer,
Exporter and Supplier of Electric Products like Electric Motor, Generator,
Transformer, and Electricity Distribution and Control Apparatus. [Registered Activity and also
Confirmed by Management] |
|
|
|
|
No. of Employees
: |
110 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
was incorporated in the year 1987 and it is a manufacturer and supplier of
electrical products like electric motor, generator, transformer, and electricity
distribution and control apparatus. As per
financials of March 2017, the company has registered a growth of 4.94% in its
revenue as compared to its previous year’s revenue and reported minimal
profit margin 0.56%. Rating takes
into consideration the company’s established track record of business
operations marked by sound net worth base along with strong debt coverage
indicators and good liquidity position. Payment
terms seems to be regular. In view of aforesaid, the company can be considered for business dealing at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 28.03.2018.
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. Amit Dhandhania |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-9830081486 |
|
Date : |
26.03.2018 |
LOCATIONS
|
Registered Office : |
5/C, Chetla Central Road, Kolkata – 700027, West Bengal,
India |
|
Tel. No.: |
91-33-24017421 |
|
Mobile No.: |
91-9830081486 / 9830881486 (Mr. Amit Dhandhania) |
|
Fax No.: |
91-33-24017486 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Kasha Industrial Estate, Phase-II, Plot No. 11, Kolkata – 700107, West
Bengal, India |
|
|
|
|
Factory and Admin Office : |
150, Upen Baneriee Road, Kolkata – 700060, West Bengal, India |
|
Tel. No.: |
91-33-24014406/4211 |
|
Fax No.: |
91-33-24017486 |
|
|
|
|
Branch Offices: |
Located at: · Ahmedabad · Bangalore · Bhubaneshwar · Chennai · Cochin · Hyderabad · Indore · Jaipur · Kolkata · Lucknow · Mumbai · New Delhi · Pune · Patna · Ranchi · Raipur · Jalandhar · Srinagar · Surat |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Anup Bhartia |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
640, Block - O, New Alipore, Kolkata – 700053, West Bengal, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
17.06.1973 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.06.1996 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00732912 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AECPB9382J |
||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajkapoor Bhartia |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
640, Block - O, New Alipore, Kolkata – 700053, West Bengal, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.03.1950 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.02.2013 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00733178 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AEHPB2082G |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Amit Bhartia |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
640, Block-O, New Alipore, Kolkata – 700053, West Bengal, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.10.1975 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.Com |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
04.10.1999 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00733237 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AIDPB6694G |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Amit Dhandhania |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Raj Kapoor Anup Bhartia (HUF) |
|
52310 |
|
Ashika Tradelink Private Limited |
|
1613000 |
|
Bentec Bhartia Engg. Private Limited |
|
1157530 |
|
Gemco Castings Private Limited |
|
54000 |
|
Padmakar Marketing Private Limited |
|
504000 |
|
Alembic Merchants Private Limited |
|
1517000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Exporter and Supplier of Electric Products like Electric Motor, Generator,
Transformer, and Electricity Distribution and Control Apparatus. [Registered Activity and also
Confirmed by Management] |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
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|
||||
|
Agencies Held : |
Not Available |
||||
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|
||||
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Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
·
Bhutan ·
Nepal ·
Bangladesh |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
·
China ·
Taiwan |
||||
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|
||||
|
Terms : |
|
||||
|
Selling : |
Cash, NEFT and RTGS |
||||
|
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|
||||
|
Purchasing : |
Cash, NEFT and RTGS |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers and End Users · Indo Nabin Projects Limited · L & T Limited |
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
No. of Employees : |
110 [Approximately] |
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Bankers : |
· UCO Bank · State BANK of India Commercial Branch, Alipore, 24/1/1, Alipore Road, 1st Floor, Kolkata - 700027, West Bengal, India · State Bank of India MID
Corporate Loan Administration Unit, 7th Floor, "Samriddhi Bhawan",
Block- E, 1, Strand Road, Kolkata - 700001, West Bengal, India |
||||||||||||||||||||||
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|
||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Rustagi and Associates Chartered Accountants |
|
Address : |
59, Bentinck Street, Kolkata – 700069, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFR1346H |
|
|
|
|
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 : |
· Bentec Bhartia Engineers Private Limited [U31506WB1996PTC076773] · Gemco Castings Limited [U27203WB1999PLC088926] · Bhartia Projects LLP · Bhartia Realcon LLP · Dhandhania Properties LLP · Sardarsahar Properties LLP · Bentec Lighting LLP · Ellar Realcon LLP · Parnasree Realcon LLP · Sardarsahar Estates LLP |
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 |
|
|
|
|
|
|
9413343 |
Equity Shares |
INR 10/- each |
INR 94.133 Million |
|
|
|
|
|
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 |
94.133 |
94.133 |
94.133 |
|
(b) Reserves and Surplus |
471.461 |
462.594 |
455.326 |
|
(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) |
565.594 |
556.727 |
549.459 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
165.637 |
142.330 |
140.947 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.510 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
4.169 |
3.854 |
2.946 |
|
Total Non-current
Liabilities (3) |
169.806 |
146.184 |
144.403 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
121.355 |
27.013 |
155.234 |
|
(b) Trade
payables |
634.862 |
517.207 |
447.888 |
|
(c) Other
current liabilities |
72.836 |
69.528 |
27.955 |
|
(d) Short-term
provisions |
52.509 |
48.725 |
46.087 |
|
Total Current
Liabilities (4) |
881.562 |
662.473 |
677.164 |
|
|
|
|
|
|
TOTAL |
1616.962 |
1365.384 |
1371.026 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
29.553 |
164.999 |
27.961 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
2.546 |
2.546 |
2.546 |
|
(c) Deferred tax assets (net) |
0.636 |
0.237 |
0.000 |
|
(d)
Long-term loans and advances |
150.049 |
115.425 |
172.661 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
182.784 |
283.207 |
203.168 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
358.521 |
340.410 |
341.299 |
|
(c) Trade
receivables |
725.572 |
429.798 |
535.110 |
|
(d) Cash and
bank balances |
72.760 |
93.465 |
75.432 |
|
(e) Short-term
loans and advances |
277.325 |
218.504 |
216.017 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1434.178 |
1082.177 |
1167.858 |
|
|
|
|
|
|
TOTAL |
1616.962 |
1365.384 |
1371.026 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1593.789 |
1518.736 |
1351.758 |
|
|
Other Income |
6.032 |
5.233 |
3.828 |
|
|
TOTAL |
1599.821 |
1523.969 |
1355.586 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
765.727 |
942.422 |
903.333 |
|
|
Purchases of
Stock-in-Trade |
560.401 |
331.952 |
226.772 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
13.375 |
28.065 |
49.339 |
|
|
Employee benefit expense |
75.910 |
59.744 |
42.204 |
|
|
Other expenses |
131.612 |
102.642 |
81.689 |
|
|
TOTAL |
1547.025 |
1464.825 |
1303.337 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
52.796 |
59.144 |
52.249 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
33.240 |
42.116 |
35.871 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION |
19.556 |
17.028 |
16.378 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.084 |
5.739 |
6.568 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
13.472 |
11.289 |
9.810 |
|
|
|
|
|
|
|
Less |
TAX |
4.606 |
3.923 |
3.056 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
8.866 |
7.366 |
6.754 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
313.383 |
346.028 |
0.000 |
|
|
|
|
|
|
|
|
Earnings Per Share (INR) |
0.942 |
0.783 |
0.717 |
Expected Sales (2017-2018): INR 1650.000 Million [Due to business
growth]
The above information has been parted by Mr. Amit Dhandhania [Sales
Manager]
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 |
(269.614) |
232.683 |
120.795 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(241.917) |
280.541 |
150.153 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
166.17 |
103.29 |
144.49 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.20 |
3.53 |
2.53 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
174.74 |
148.14 |
144.66 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.15 |
0.17 |
0.15 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.79 |
0.36 |
1.87 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.65 |
0.59 |
0.60 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.51 |
0.30 |
0.54 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.56 |
1.19 |
1.23 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.05 |
0.30 |
0.05 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.59 |
1.40 |
1.46 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.56 |
0.49 |
0.50 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.55 |
0.54 |
0.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
1.57 |
1.32 |
1.23 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.63 |
1.63 |
1.72 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.22 |
1.12 |
1.22 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.35 |
0.41 |
0.40 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.05 |
1.80 |
3.15 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.63 |
1.63 |
1.72 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
94.133 |
94.133 |
94.133 |
|
Reserves & Surplus |
455.326 |
462.594 |
471.461 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
549.459 |
556.727 |
565.594 |
|
|
|
|
|
|
Long-term borrowings |
140.947 |
142.330 |
165.637 |
|
Short term borrowings |
155.234 |
27.013 |
121.355 |
|
Total
borrowings |
296.181 |
169.343 |
286.992 |
|
Debt/Equity
ratio |
0.539 |
0.304 |
0.507 |
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 |
1351.758 |
1518.736 |
1593.789 |
|
|
|
12.353 |
4.942 |
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 |
1351.758 |
1518.736 |
1593.789 |
|
Profit |
6.754 |
7.366 |
8.866 |
|
|
0.50
% |
0.49
% |
0.56
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
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 |
No |
|
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G79772331 |
100161303 |
STATE BANK OF
INDIA |
23/02/2018 |
- |
- |
687000000.0 |
COMMERCIAL BRANCH,
JEEVANDEEP1,MIDDLETON STREET, JEEVANDEEP BUILDING, 2ND FLOORKOLKATAWB700071IN |
|
2 |
G53229001 |
100122229 |
IDFC BANK LIMITED |
09/08/2017 |
- |
- |
100000000.0 |
KRM TOWER, 7TH
FLOOR, NO. 1,HARRINGTON ROAD, CHETPET,CHENNAITA600031IN |
|
3 |
C40210205 |
10172281 |
STATE BANK OF
INDIA |
14/08/2009 |
26/09/2014 |
- |
624600000.0 |
COMMERCIAL BRANCH,
JEEVANDEEP1,MIDDLETON STREET, JEEVANDEEP BUILDING, 2ND FLOORKOLKATAWB700071IN |
|
4 |
C40209389 |
10147580 |
STATE BANK OF
INDIA |
03/03/2009 |
15/04/2014 |
- |
624600000.0 |
COMMERCIAL BRANCH,
JEEVANDEEP1,MIDDLETON STREET, JEEVANDEEP BUILDING, 2ND FLOORKOLKATAWB700071IN |
|
5 |
Z01879840 |
80068180 |
UCO BANK |
14/02/2005 |
- |
- |
6000000.0 |
KOLKATA MAIN
BRANCH10, BTM SARANIKOLKATAWB700001IN |
|
6 |
Z01884604 |
80068182 |
ALLAHABAD BANK |
14/03/1988 |
- |
- |
55000.0 |
BEHALA
BRANCH274/2, DIAMOND HARBOUR ROADKOLKATAWB700003IN |
|
7 |
C62479837 |
80068124 |
UCO BANK |
14/02/2005 |
- |
19/08/2015 |
6000000.0 |
KOLKATA MAIN BRANCH10,
B. T. M. SARANIKOLKATAWB700001IN |
|
8 |
A64450646 |
80016582 |
UCO BANK |
28/08/2001 |
24/03/2007 |
27/06/2009 |
109000000.0 |
KOLKATA MAIN
BRANCH10, B. T. M. SARANI (BRABOURNE ROAD)KOLKATAWB700001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
61.949 |
59.249 |
|
Loans and advances from others |
103.688 |
83.081 |
|
|
|
|
|
|
|
|
|
Total |
165.637 |
142.330 |
REVIEW OF OPERATION
During the year the Company achieved a total Turnover of INR 1593.788 million as against INR 1518.736 million in the previous Financial year. Other Income was also increased to INR 6.032 million as against INR 5.233 million in the previous financial year. The demand situation in the Energy Meter and related electrical accessories industry has improved significantly during the year. Considering the increasing demand of Company’s products in other States, the Company have opened a few more new branches and registered impressive growth by most of the Branch also. During the year the Company started Rural Electrification Projects work at Jharkhand and expected to obtain good response in the current financial year by adequate supervision. In addition to the market situation, some of the other environmental factors which have affected our financial performance, like volatile component prices, increased wage rates and other operating cost. In spite of these difficult trading condition the Company has been able to achieve satisfactory profit before tax of INR 13.472 million as compared to INR 11.289 million in the previous year. However, during the current year the Company has undertaken certain key measures to improve its performance. Some of these are focus on increasing share with existing customers and realizing better value, new customers acquisition, improving manufacturing efficiencies and sustaining the focus on procurement of satisfactory secured orders along with tighter financial management. These initiatives along with improved productivity measures will help the post better results in the coming year.
FINANCE
The Company accepted the need base financial assistance by way of cash credit facilities from State Bank of India with a view to increasing working capital for growing business requirement as well as for capital expenditure of the Company. In addition to that the Company also accepted unsecured loan from Body Corporate. The fund so collected has been utilized for payment of other liabilities.
CONTINGENT
LIABILITIES: [AS ON 31.03.2017]
· Contingent Liability was not provided for in connection with Guarantee given INR 325.603 Million (Previous Year INR 233.511 Million) by SBI Bank to various parties against performance of contracts and Bid Guarantee.
· Contingent liability not provided in connection with Central Sales Tax, VAT and WB Sales Tax demand of INR 99.122 Million
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 64.80 |
|
UK Pound |
1 |
INR 92.26 |
|
Euro |
1 |
INR 80.76 |
INFORMATION
DETAILS
|
Information Gathered
by : |
AKS |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
ARC |
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.