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|
|
MIRA INFORM REPORT
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Report No. : |
500904 |
|
Report Date : |
28.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
POWER BUILD PRIVATE LIMITED (w.e.f. 24.11.2014) |
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|
|
Formerly Known
as: |
POWER
BUILD LIMITED |
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Registered
Office : |
Anand -Sjitra Road, Vallabh Vidyanagar, Anand - 388120, Gujarat |
|
Tel. No.: |
91-269-2231070 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
15.04.1972 |
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Com. Reg. No.: |
04-002065 |
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Capital
Investment / Paid-up Capital : |
INR 47.045 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32201GJ1972PTC002065 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
24AABCP2464K1ZF |
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TIN No: |
24151000004 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCP2464K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Manufacturing of Various types of Geared Motors and Gear Reducers, Helical and Spur Gears, Worm Gears. (Registered activity) |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Power Build Private Limited was incorporated in the year 1972. It is engaged in manufacturing of small sized geared boxes and motors. The company is part of Elecon Group. For the financial year 2017, the company has achieved revenue growth of 14.70% as compared to the previous year along with an average profit margin of 4.51%. The sound financial risk profile of the company is marked by adequate net worth base along with strong debt coverage metrics due to low debt balance sheet profile. Rating derives strength from subject’s established position in the domestic small-sized gear boxes and motors market along with synergetic operations with other Elecon group companies. Rating is constrained on account of its exposure to raw material price volatility and stiff competition prevalent in the domestic market. Payments seems to be regular. 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.
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 |
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Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term-term bank facilities = A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
12.03.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term-term bank facilities = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
12.03.2018 |
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 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 DENIED BY
|
Name : |
Mr. Suresh |
|
Designation : |
Account Department |
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Contact No.: |
91-2692-231070/ 231120 |
|
Date : |
22.03.2018 |
LOCATIONS
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Registered/ Head Office/ Factory : |
Anand -Sjitra Road, Vallabh Vidyanagar, Anand - 388120, Gujarat, India
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Correspondence Office: |
Post Box No 28, Vithal Udhyog Nagar, Vallabh Vidyanagar - 388121,
Gujarat, India |
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Tel. No.: |
91-2692-231070/ 231120/ 231170 |
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Fax No.: |
91-2692-236559 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Pradip Manubhai Patel |
|
Designation : |
Director |
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Address : |
318, Samudra Mahal, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India |
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Date of Birth/Age : |
05.11.1947 |
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Date of Appointment : |
17.03.2011 |
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DIN No.: |
00012138 |
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Name : |
Mrs. Prayasvin Patel |
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Designation : |
Director |
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Address : |
"Honest House" Bakrol Road, Vallabh, Vidyanagar - 388120, Gujarat, India |
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Date of Birth/Age : |
03.04.1958 |
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Date of Appointment : |
31.10.1999 |
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Qualification: |
B.E.(Mech) and M.B.A. (U.S.A.) |
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DIN No.: |
00037394 |
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Name : |
Mr. Dineshbhai Manubhai Patel |
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Designation : |
Director |
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Address : |
151, Trishul Behind Rangoli Apartment Vallabh, Vidyanagar - 388120, Gujarat, India |
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Date of Birth/Age : |
10.05.1953 |
|
Date of Appointment : |
01.04.2007 |
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Qualification: |
B.E. Mech |
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Pan No.: |
ADTPP3280B |
|
DIN No.: |
00076905 |
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|
|
|
Name : |
Mr. Prashant Chandrakant Amin |
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Designation : |
Director |
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Address : |
Shital Bhikhabhai Marg, Vallabh, Vidyanagar - 388120, Gujarat, India |
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Date of Birth/Age : |
09.08.1956 |
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Qualification: |
M.B.A. Finance (U.S.A.) & M.B.A. (Engg. & management) |
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Date of Appointment : |
01.10.2006 |
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DIN No.: |
01056652 |
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Name : |
Mrs. Shashwata Dutta |
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Designation : |
Wholetime Director |
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Address : |
17, Anand Vihar, Behind Yash Complex, Vadodara - 390021, Gujarat, India |
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Date of Birth/Age : |
28.06.1963 |
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Date of Appointment : |
30.04.2015 |
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Pan No.: |
ABVPD5063E |
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DIN No.: |
05276310 |
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|
|
|
Name : |
Mrs. Akanksha Prayasvin Patel |
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Designation : |
Wholetime Director |
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Address : |
Honest House Bakrol Road, Vallabh, Vidyanagar - 388120, Gujarat, India |
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Date of Birth/Age : |
05.03.1993 |
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Qualification: |
Graduate |
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Date of Appointment : |
26.06.2013 |
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DIN No.: |
06628388 |
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|
|
|
Name : |
Mrs. Aishwarya Prayasvin Patel |
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Designation : |
Director |
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Address : |
Honest House Bakrol Road, Vallabh, Vidyanagar - 388120, Gujarat India |
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Date of Birth/Age : |
13.03.1977 |
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Qualification: |
Graduate |
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Date of Appointment : |
01.01.2016 |
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DIN No.: |
07328299 |
KEY EXECUTIVES
|
Name : |
D.G. Bhimani and Associates |
|
Designation : |
Company Secretary |
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Address : |
207, “NATHWANI CHAMBERS” Near Patel Market, Sardar Gunj, Anand –
388001, Gujarat, India |
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Email: |
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|
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|
Name : |
Mr. Suresh |
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Designation : |
Account Department |
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|
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|
Name : |
Mr. Devanand Parshottam Mojidra |
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Designation : |
Company Secretary |
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Address : |
A/504, Kamala Aashish Building, A/504, Mumbai - 400067, Maharashtra,
India |
|
Date of Appointment : |
02.12.2015 |
|
PAN No.: |
AHRPM7047F |
MAJOR SHAREHOLDERS
AS ON: 31.03.2017
|
Names of Shareholders (Equity Share) |
|
No. of Shares |
|
Aakaaish Investments Private Limited, India |
|
121 |
|
Total |
|
121 |
|
Names of Shareholders (Preference Share) |
|
No. of Shares |
|
Aakaaish Investments Private Limited, India |
|
1 |
|
Jamko Consultance Private Limited |
|
25000 |
|
Devkishan Investments Private Limited |
|
25655 |
|
Akaaish Mechatronics Limited |
|
37450 |
|
Akanksha Prayasvin Patel |
|
37550 |
|
Bipra Investment and Trusts Private Limited |
|
131399 |
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Akaaish Mechatronics Limited |
|
212002 |
|
Prayas Engineering Limited |
|
431469 |
|
Prayasvinbhai B. Patel |
|
459120 |
|
Wizard Fincap Limited |
|
461204 |
|
Speciality Woodpack Private Limited |
|
538516 |
|
K. B. Investments Private Limited |
|
779025 |
|
Emtici Engineering Limited |
|
1565979 |
|
Total |
|
4704370 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Bodies corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Manufacturing of Various types of Geared Motors and Gear Reducers, Helical and Spur Gears, Worm Gears. (Registered activity) |
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Products : |
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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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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
J.D. Zatakia and Company Chartered Accountants |
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Address : |
306, Rupa Plaza, Zawahar Road, Ghatkoper (East), Mumbai-400077, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPZ0084D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
Aakaaish Investments Private Limited (U65921GJ2013PTC077902) |
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Subsidiary company: |
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|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and their
relatives: |
|
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
INR 10/- each |
INR 250.000 Million |
|
5000000 |
Preference shares |
INR 10/- each |
INR 50.000 Million |
|
|
Total |
|
INR 300.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
121 |
Equity Shares |
INR 10/- each |
INR 0.001 Million |
|
4704370 |
Preference shares |
INR 10/- each |
INR 47.044 Million |
|
|
Total |
|
INR 47.045 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
47.045 |
47.045 |
47.045 |
|
(b) Reserves and Surplus |
911.986 |
879.015 |
794.210 |
|
(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) |
959.031 |
926.060 |
841.255 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
80.039 |
111.501 |
58.642 |
|
(b) Deferred tax liabilities (Net) |
(5.632) |
0.887 |
(1.740) |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
5.121 |
3.560 |
3.152 |
|
Total Non-current
Liabilities (3) |
79.528 |
115.948 |
60.054 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
145.078 |
111.728 |
133.772 |
|
(b) Trade
payables |
383.149 |
398.179 |
273.672 |
|
(c) Other current
liabilities |
58.418 |
47.468 |
59.476 |
|
(d) Short-term
provisions |
23.805 |
12.434 |
7.468 |
|
Total Current
Liabilities (4) |
610.450 |
569.809 |
474.388 |
|
|
|
|
|
|
TOTAL |
1649.009 |
1611.817 |
1375.697 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
482.867 |
549.963 |
493.348 |
|
(ii)
Intangible Assets |
3.665 |
3.279 |
3.981 |
|
(iii) Tangible assets
capital work-in-progress |
0.164 |
1.044 |
5.574 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
249.293 |
268.498 |
249.228 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
139.309 |
43.684 |
43.961 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
875.298 |
866.468 |
796.092 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
252.753 |
292.060 |
218.002 |
|
(c) Trade
receivables |
431.147 |
401.460 |
314.938 |
|
(d) Cash and
bank balances |
16.353 |
9.572 |
11.985 |
|
(e)
Short-term loans and advances |
71.789 |
40.485 |
33.435 |
|
(f) Other
current assets |
1.669 |
1.772 |
1.245 |
|
Total
Current Assets |
773.711 |
745.349 |
579.605 |
|
|
|
|
|
|
TOTAL |
1649.009 |
1611.817 |
1375.697 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1453.028 |
1266.810 |
1086.249 |
|
|
Other Income |
18.758 |
15.254 |
17.842 |
|
|
TOTAL |
1471.786 |
1282.064 |
1104.091 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
789.354 |
664.411 |
569.371 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(11.070) |
(7.038) |
(17.860) |
|
|
Employee benefit expense |
106.644 |
99.394 |
84.521 |
|
|
CSR expenditure |
2.387 |
1.872 |
0.000 |
|
|
Other expenses |
364.668 |
297.182 |
245.200 |
|
|
TOTAL |
1251.983 |
1055.821 |
881.232 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
219.803 |
226.243 |
222.859 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
22.570 |
24.909 |
24.624 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
197.233 |
201.334 |
198.235 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
106.652 |
104.603 |
115.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
90.581 |
96.731 |
82.735 |
|
|
|
|
|
|
|
Less |
TAX |
24.982 |
36.629 |
27.521 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
65.599 |
60.102 |
55.214 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
0.000 |
150.842 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
150.842 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
2.731 |
|
|
Components and spare
parts |
0.000 |
0.000 |
21.086 |
|
|
Capital Goods |
0.000 |
0.000 |
55.018 |
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
78.835 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
13.94 |
12.78 |
11.74 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
38.279 |
34.509 |
46.755 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
147.919 |
117.780 |
160.902 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
100.430 |
77.752 |
123.223 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
108.30 |
115.67 |
105.83 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
3.37 |
3.16 |
3.45 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
177.17 |
218.74 |
175.44 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.87 |
0.77 |
1.02 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.45 |
0.41 |
0.44 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.44 |
0.44 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.27 |
0.28 |
0.28 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.64 |
0.62 |
0.56 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.51 |
0.60 |
0.60 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
9.74 |
9.08 |
9.05 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
4.51 |
4.74 |
5.08 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
3.98 |
3.73 |
4.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
6.84 |
6.49 |
6.56 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.27 |
1.31 |
1.22 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.85 |
0.80 |
0.76 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.58 |
0.57 |
0.61 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
5.60 |
5.48 |
5.08 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets
/ Total Current Liabilities] |
|
1.27 |
1.31 |
1.22 |
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 |
47.045 |
47.045 |
47.045 |
|
Reserves & Surplus |
794.210 |
879.015 |
911.986 |
|
Net
worth |
841.255 |
926.060 |
959.031 |
|
|
|
|
|
|
Long-term borrowings |
58.642 |
111.501 |
80.039 |
|
Short term borrowings |
133.772 |
111.728 |
145.078 |
|
Current maturities of
long-term debts |
46.755 |
34.509 |
38.279 |
|
Total
borrowings |
239.169 |
257.738 |
263.396 |
|
Debt/Equity
ratio |
0.284 |
0.278 |
0.275 |
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 |
1086.249 |
1266.810 |
1453.028 |
|
|
|
16.622 |
14.700 |
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 |
1086.249 |
1266.810 |
1453.028 |
|
Profit/ (Loss) |
55.214 |
60.102 |
65.599 |
|
|
5.08
% |
4.74
% |
4.51
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
47.045 |
47.045 |
|
(b) Reserves and Surplus |
819.832 |
757.267 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
|
(d) Minority interest |
0.362 |
0.345 |
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
866.877 |
804.312 |
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
(a) long-term borrowings |
182.740 |
430.649 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.887 |
|
(c) Other long-term
liabilities |
8.171 |
0.000 |
|
(d) long-term
provisions |
13.172 |
11.308 |
|
Total Non-current
Liabilities (3) |
204.083 |
442.844 |
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
(a) Short-term
borrowings |
489.863 |
528.869 |
|
(b) Trade
payables |
633.219 |
737.583 |
|
(c) Other current
liabilities |
199.137 |
114.925 |
|
(d) Short-term
provisions |
24.681 |
12.434 |
|
Total Current
Liabilities (4) |
1346.900 |
1393.811 |
|
|
|
|
|
TOTAL |
2418.222 |
2641.312 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1)
Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i)
Tangible assets |
821.851 |
913.534 |
|
(ii)
Intangible Assets |
109.049 |
122.961 |
|
(iii) Tangible assets
capital work-in-progress |
0.374 |
1.090 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
|
(b) Non-current Investments |
26.307 |
27.474 |
|
(c) Deferred tax assets (net) |
5.632 |
0.000 |
|
(d)
Long-term loans and advances |
3.964 |
11.852 |
|
(e) Other
Non-current assets |
22.503 |
5.172 |
|
Total Non-Current
Assets |
989.680 |
1082.083 |
|
|
|
|
|
(2)
Current assets |
|
|
|
(a)
Current investments |
0.000 |
0.000 |
|
(b)
Inventories |
473.524 |
517.856 |
|
(c) Trade
receivables |
792.401 |
862.259 |
|
(d) Cash and
bank balances |
51.593 |
29.323 |
|
(e)
Short-term loans and advances |
80.648 |
85.166 |
|
(f) Other
current assets |
30.376 |
64.625 |
|
Total
Current Assets |
1428.542 |
1559.229 |
|
|
|
|
|
TOTAL |
2418.222 |
2641.312 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
Total
Revenue from operations |
2135.566 |
2146.938 |
|
|
Other Income |
61.575 |
50.816 |
|
|
TOTAL |
2197.141 |
2197.754 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
1239.321 |
1323.975 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.643) |
(18.071) |
|
|
Employee benefit expense |
203.276 |
197.614 |
|
|
Other expenses |
489.591 |
427.172 |
|
|
TOTAL |
1929.545 |
1930.690 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
267.596 |
267.064 |
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
27.771 |
63.212 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
239.825 |
203.852 |
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
136.466 |
133.751 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
103.359 |
70.101 |
|
|
|
|
|
|
Less |
TAX |
27.907 |
40.114 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
75.452 |
29.987 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
16.04 |
6.37 |
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 two/ 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 |
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 |
PERFORMANCE:
Standalone Financial Performance:
During the year, the Company has achieved Turnover of INR 1452.321 million (Previous Year INR 1266.509 million). The Net Profit stood at 65.599 Million (Previous Year INR 60.102 million).
COMPANY OVERVIEW
The ompany is engaged in manufacturing of various types of Geared Motors and Gear reducers, Helical and Spur Gears, Worm Gears.
Its wholly owned subsidiary companies namely
1. Power Build Transmission International Limited. Mauritius, main object of which is Investment and holding.
2. Radicon Transmission FZE, UAE. Main object of which is assembling of Gear Motor and related spare parts and trading of the same.
The Company's registered office is in Vallabh Vidyanagar- Gujarat-388120 and its subsidiaries are in Mauritius and UAE and its Step down subsidiaries are in Thailand and Australia.
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Other loans and advances, others |
8.202 |
7.524 |
|
Total |
8.202 |
7.524 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G51025682 |
100117248 |
State Bank of India |
25/07/2017 |
- |
- |
442500000.0 |
Specialised Commercial Branch, Jaylaxmi Plaza,Ganesh Chowkadi,AnandGJ388001IN |
|
2 |
G53325387 |
90112120 |
State Bank of India |
14/09/1992 |
25/07/2017 |
- |
442500000.0 |
Specialised Commercial Branch, Jaylaxmi Plaza,Ganesh Chowkadi,AnandGJ388001IN |
|
3 |
C23340052 |
90111944 |
State Bank of India |
07/12/1985 |
28/06/1990 |
25/09/2014 |
8000000.0 |
STATION ROADANANDGJ388001IN |
|
4 |
C23334188 |
90108911 |
State Bank of India |
14/09/1992 |
28/05/2001 |
25/09/2014 |
54596000.0 |
SPECIALSED COMMERCIAL BRANCHJAYLAKSHMI PLAZA GANESH CROSSINGANANDGJ388001IN |
|
5 |
C23338221 |
90109295 |
State Bank of India |
28/06/1995 |
28/06/1995 |
25/09/2014 |
37258000.0 |
SPECIALSED COMMERCIAL BRANCHJAYLAKSHMI PLAZA GANESH CROSSINGANANDGJ388001IN |
|
6 |
C23340938 |
90113128 |
State Bank of India |
15/03/1997 |
08/02/2003 |
25/09/2014 |
54596000.0 |
SPECIALSED COMMERCIAL BRANCHJAYLAKSHMI PLAZA GANESH CROSSINGANANDGJ388001IN |
|
7 |
C23330384 |
90108334 |
State Bank of India |
07/12/1985 |
28/06/2001 |
25/09/2014 |
37258000.0 |
STATION ROADANANDGJ388001IN |
|
8 |
C02619898 |
80022635 |
Axis Bank Limited |
11/10/2004 |
07/06/2011 |
17/04/2014 |
35297000.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
On account of bills/ Cheques discounts |
7.952 |
5.126 |
|
Guarantees Given by bank. |
8.279 |
10.388 |
|
Claim against company not acknowledged as debt and under disputes (Pertains to Erstwhile MHE Division ) |
46.879 |
43.428 |
|
Interest and other demand of deferment of Income Tax & VAT/CST liability and Service Tax |
45.55 |
44.130 |
|
Corporate Guarantees given by the Company to Bank of Baroda, UAE |
362.676 |
580.824 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Factory equipment’s
·
Furniture and fixtures
·
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 |
|
|
1 |
INR 92.26 |
|
Euro |
1 |
INR 80.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLK |
|
|
|
|
Analysis Done by
: |
PYK |
|
|
|
|
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.