|
|
|
MIRA
INFORM REPORT
|
Report No. : |
500073 |
|
Report Date : |
29.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
HSF FOOD PRO-TECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Opposite Air Force Station, Dabwali Road, Sirsa-125055, Haryana |
|
Tel. No.: |
91-1666-241539 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
09.11.1998 |
|
|
|
|
Com. Reg. No.: |
05-034068 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 44.029 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29191HR1998PTC034068 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GST No.: |
06AAACH6997A1ZL |
|
|
|
|
TIN No.: |
06092902970 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH6997A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Rice Mill Machineries. [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 424400 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1998 and it is having satisfactory track records. For the financial year 2017, the company has registered decrease in its revenue from operation as compared to previous year and has maintained average profitability margin of 1.18%. Rating takes into consideration sound financial profile of the company marked by adequate networth base and average debt balance sheet. Further, rating also reflects from its long standing track record of business operations. However, this rating strength is partially offset due to declined in the revenue as well as profitability during the year. Trade relations are reported as fair. Business is active. Payments terms are seems to be slow but correct. 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
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 29.03.2018.
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 DECLINED BY
|
Name : |
Mr. Ankit Gupta |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9813341000 |
|
Date : |
26.03.2018 |
[No. are 91-1666-241539/ 241639 ringing]
LOCATIONS
|
Registered Office : |
Opposite Air Force Station, Dabwali Road, Sirsa-125055, Haryana, India |
|
Tel. No.: |
91-1666-241539/ 241639 |
|
Mobile No.: |
91-9813341000 [Mr. Ankit Gupta] |
|
Fax No.: |
91-1666-241839 |
|
Email : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Bharat Bhushan Gupta |
|||||||||
|
Designation : |
Director |
|||||||||
|
Address : |
H. No. 242, C-Block Sirsa – 125055, Haryana, India |
|||||||||
|
Date of Birth/Age : |
14.02.1958 |
|||||||||
|
Date of Appointment : |
09.11.1998 |
|||||||||
|
DIN No.: |
00383585 |
|||||||||
|
|
|
|||||||||
|
Name : |
Mr. Suneel Kumar Gupta |
|||||||||
|
Designation : |
Director |
|||||||||
|
Address : |
H. No. 242, C-Block Sirsa – 125055, Haryana, India |
|||||||||
|
Date of Birth/Age : |
18.01.1959 |
|||||||||
|
Date of Appointment : |
09.11.1998 |
|||||||||
|
DIN No.: |
00383624 |
|||||||||
|
Other Directorship :
|
||||||||||
|
|
|
|||||||||
|
Name : |
Mr. Sanjeev Kumar Gupta |
|||||||||
|
Designation : |
Director |
|||||||||
|
Address : |
H. No. 158, C-Block, Sirsa – 125055, Haryana, India |
|||||||||
|
Date of Birth/Age : |
17.03.1969 |
|||||||||
|
Date of Appointment : |
21.01.1999 |
|||||||||
|
DIN No.: |
00383662 |
|||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
Note: SHAREHOLDING DETAILS FILE ATTACHED
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
23.35 |
|
Promoters – Body Corporate |
76.64 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
0.01 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Rice Mill Machineries. [Registered Activity] |
||||
|
|
|
||||
|
Products/ Services : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
· Canara Bank Main Branch, Hisar Road, Sirsa - 125055, Haryana, India · HDFC Bank Limited HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Ashok Singal and Associates Chartered Accountants |
|
Address : |
36-38, Shree Balaji Market, Begu Road, Sirsa-125055, Haryana, India |
|
Tel. No.: |
91-1666-226653 |
|
PAN No.: |
AKSPS9453M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises over which key management
personnel or their relatives are exercising significant influence : |
· Rubicam Agencies Private Limited, Kolkata · Ashok Vatika Agro Farms |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4750000 |
Equity Shares |
INR 10/- each |
INR 47.500 Million |
|
250000 |
Preference Share |
INR 10/- each |
INR 2.500 Million |
|
|
Total |
|
INR 50.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4264900 |
Equity Shares |
INR 10/- each |
INR 42.649 Million |
|
138000 |
Preference Share |
INR 10/- each |
INR 1.380 Million |
|
|
Total |
|
INR 44.029 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 |
44.029 |
44.029 |
44.029 |
|
(b) Reserves & Surplus |
104.514 |
101.532 |
93.848 |
|
(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) |
148.543 |
145.561 |
137.877 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
61.203 |
43.582 |
41.867 |
|
(b) Deferred tax liabilities (Net) |
4.696 |
4.301 |
3.681 |
|
(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) |
65.899 |
47.883 |
45.548 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
50.094 |
39.463 |
18.067 |
|
(b)
Trade payables |
38.410 |
61.947 |
37.092 |
|
(c)
Other current liabilities |
29.763 |
42.397 |
64.178 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.818 |
|
Total
Current Liabilities (4) |
118.267 |
143.807 |
120.155 |
|
|
|
|
|
|
TOTAL |
332.709 |
337.251 |
303.580 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
93.580 |
92.096 |
98.181 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
1.754 |
1.514 |
0.399 |
|
(e)
Other Non-current assets |
0.000 |
0.020 |
0.040 |
|
Total
Non-Current Assets |
95.334 |
93.630 |
98.620 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
82.381 |
103.521 |
76.837 |
|
(c)
Trade receivables |
98.238 |
92.202 |
96.300 |
|
(d)
Cash and cash equivalents |
5.620 |
1.092 |
2.982 |
|
(e)
Short-term loans and advances |
51.115 |
46.785 |
28.821 |
|
(f)
Other current assets |
0.021 |
0.021 |
0.020 |
|
Total
Current Assets |
237.375 |
243.621 |
204.960 |
|
|
|
|
|
|
TOTAL |
332.709 |
337.251 |
303.580 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
253.255 |
393.724 |
707.619 |
|
|
|
Other Income |
16.026 |
18.832 |
17.702 |
|
|
|
TOTAL |
269.281 |
412.556 |
725.321 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
222.797 |
354.958 |
649.983 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.147 |
0.623 |
(0.291) |
|
|
|
Employees benefits expense |
13.718 |
14.766 |
13.104 |
|
|
|
Other expenses |
13.493 |
19.591 |
27.302 |
|
|
|
TOTAL |
250.155 |
389.938 |
690.098 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
19.126 |
22.618 |
35.223 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
8.811 |
6.851 |
5.178 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
10.315 |
15.767 |
30.045 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.440 |
5.882 |
5.867 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
3.875 |
9.885 |
24.178 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.894 |
2.200 |
5.948 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
2.981 |
7.685 |
18.230 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports at F.O.B. value |
48.604 |
44.325 |
35.934 |
|
|
TOTAL EARNINGS |
48.604 |
44.325 |
35.934 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
|
|
|
|
|
Basic
|
0.70 |
1.80 |
4.27 |
|
|
|
Diluted |
0.68 |
1.75 |
4.14 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current
Maturities of Long term debt |
|
|
|
|
Current Maturities of HDFC Machinery term loan |
3.543 |
3.191 |
2.919 |
|
Current Maturities of HDFC Fortuner Car Loan |
0.765 |
0.692 |
0.576 |
|
Current Maturities of Mercedez Car Loan |
1.403 |
1.267 |
1.144 |
|
Current Maturities of Discovery Car Loan |
0.998 |
0.000 |
0.000 |
|
Total |
6.709 |
5.150 |
4.639 |
|
|
|
|
|
|
Cash generated from operations |
(6.307) |
(27.048) |
7.563 |
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
(9.307) |
(32.354) |
3.194 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
141.58 |
85.48 |
49.67 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.58 |
4.27 |
7.35 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
62.93 |
63.70 |
20.83 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.23 |
0.22 |
0.46 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.20 |
0.25 |
0.36 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.56 |
0.57 |
0.55 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.79 |
0.61 |
0.47 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.80 |
0.99 |
0.87 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.63 |
0.63 |
0.71 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.17 |
3.30 |
6.80 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.18 |
1.95 |
2.58 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.90 |
2.28 |
6.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
2.01 |
5.28 |
13.22 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.01 |
1.69 |
1.71 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.31 |
0.97 |
1.07 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.45 |
0.43 |
0.45 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.68 |
2.00 |
1.47 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.01 |
1.69 |
1.71 |
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 |
44.029 |
44.029 |
44.029 |
|
Reserves & Surplus |
93.848 |
101.532 |
104.514 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
137.877 |
145.561 |
148.543 |
|
|
|
|
|
|
long-term borrowings |
41.867 |
43.582 |
61.203 |
|
Short term borrowings |
18.067 |
39.463 |
50.094 |
|
Current Maturities of Long
term debt |
4.639 |
5.150 |
6.709 |
|
Total
borrowings |
64.573 |
88.195 |
118.006 |
|
Debt/Equity
ratio |
0.468 |
0.606 |
0.794 |
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 |
707.619 |
393.724 |
253.255 |
|
|
|
-44.359 |
-35.677 |
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 |
707.619 |
393.724 |
253.255 |
|
Profit |
18.230 |
7.685 |
2.981 |
|
|
2.58% |
1.95% |
1.18% |
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 |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C73176182 |
10551309 |
HDFC BANK LIMITED |
14/02/2015 |
03/12/2015 |
- |
57520000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
2 |
C49421647 |
10145591 |
CANARA BANK |
31/01/2009 |
- |
07/04/2015 |
1000000.0 |
MAIN BRANCHHISAR ROADSIRSAHR125055IN |
|
3 |
C49422330 |
10267706 |
Canara Bank |
24/12/2010 |
27/09/2013 |
25/03/2015 |
35000000.0 |
Main BranchHisar RoadSirsaHR125055IN |
|
4 |
B07322738 |
10153207 |
HDFC BANK LIMITED |
02/03/2009 |
08/03/2009 |
01/03/2011 |
10000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
5 |
A36781979 |
90037369 |
CANARA BANK |
29/06/2002 |
- |
21/04/2008 |
7000000.0 |
MAIN BRANCHHISAR ROADSIRSAHRIN |
|
6 |
A36782167 |
90035219 |
CANARA BANK |
25/05/1999 |
16/07/2002 |
21/04/2008 |
1500000.0 |
MAIN BRANCHHISAR ROADSIRSAHRIN |
|
7 |
A36781722 |
90037401 |
CANARA BANK |
16/07/2002 |
- |
21/04/2008 |
7000000.0 |
MAIN BRANCHHISAR ROADSIRSAHRIN |
|
8 |
A02207132 |
90036831 |
CANARA BANK |
22/10/2001 |
- |
07/07/2006 |
637000.0 |
MAIN BRANCHHISAR ROADSIRSAHRIN |
|
9 |
A02207694 |
90038049 |
CANARA BANK |
22/04/2003 |
- |
07/07/2006 |
300000.0 |
MAIN BRANCHHISAR ROADSIRSAHRIN |
|
10 |
A02208189 |
90037258 |
CANARA BANK |
06/05/2002 |
- |
07/07/2006 |
1020000.0 |
MAIN BRANCHHISAR ROADSIRSAHRIN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Unsecured Loans & advances from related parties |
51.418 |
32.243 |
|
Other unsecured loans |
0.921 |
0.850 |
|
|
|
|
|
Total |
52.339 |
33.093 |
CORPORATE INFORMATION
Subject was incorporated on 09.11.1998. The Company is engaged in manufacturing of Rice Mill Machineries.
BRIEF DESCRIPTION OF
THE COMPANY'S WOR KING DURI NG THE YEAR/ STATE OF COMPANY'S
AFFAIRS:
The Total Revenue of the company during the year under report was INR 269.281 Million as compared to INR 412.556 Million for the previous year. The company has made net profit of INR 2.981 Million as against previous year profit INR 7.685 Million. The turnover and profitability achieved by the Company may be considered as satisfactory considering the overall market conditions. The Directors are optimistic about company’s business and hopeful of better performance with increased revenue in next year.
CONTINGENT
LIABILITIES: (As On 31.03.2017)
The company has not deposited duty of excise payable under Central Excise Act as on 31st March 2017 on account of dispute. The company has so far received two demand notices as under:
i) The demand notice for the period Feb. 2013 to Dec. 2013 vide order dated 15.12.2014 was received for INR 6.860 Million for duty, equallant amount of penalty and interest at appropriate rate. The company has so far deposited (by debiting Cenvat Credit) INR 5.145 Million on 27.12.2014.
ii) The 2nd demand notice for the period from 1.1.2014 to 15.5.2014 vide order dated 17.11.2015 was received for INR 32.716 Million for duty and interest. The company has so far deposited (by debiting Cenvat Credit) INR 0.704 Million on 22.01.2016.
The dispute is pending with the Custom Excise & Service Tax Appellate Tribunal, Chandigarh., the Company has been legally advised that the demand raised is likely to be either deleted or substantially reduced and accordingly no provision is considered necessary.
FIXED ASSETS:
Tangible Assets
·
Land
·
Factory Building
· Electrical Installation
·
Plant and Machinery
·
Computer
·
Car
·
Office Equipment
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.04 |
|
UK Pound |
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHR |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
IND |
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.