|
|
|
MIRA INFORM REPORT
|
Report No. : |
500581 |
|
Report Date : |
29.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
MERIDIAN APPARELS PRIVATE LIMITED (w.e.f. 24.11.2014) |
|
|
|
|
Formerly Known
As : |
MERIDIAN
APPARELS LIMITED |
|
|
|
|
Registered
Office : |
121/3, TTK Road, Manickam Avenue, Chennai – 600018, Tamilnadu |
|
Tel. No.: |
91-44-42111000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
06.04.1993 |
|
|
|
|
Com. Reg. No.: |
18-024764 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 201.333 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101TN1993PTC024764 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM7762Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer,
dealer and trader of all types of fabric, garments, apparels, dresses, fabric
products. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1993 having fine track record. It
is engaged as manufacturer,
dealer and trader of all types of fabric, garments, apparels, dresses, fabric
products. For the
financial year 2017 the company has achieved decent growth in its revenue as
compared to its previous year along with fair profit margin during the year. Rating takes into consideration, the satisfactory financial risk
profile marked by adequate networth base and strong debt protection metrics. Rating continue to derive strength from its long and established track
record of its business operation backed by its extensive experience of the
promoters in readymade garments industry. However, these rating strengths gets partially offset by exposure to
intense competition from serval players in the domestic textile industry
impacting the profitability and growth in reserves. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
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 |
CRISIL |
|
Rating |
Long term Rating= BB- |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
27.12.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating= A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
27.12.2017 |
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 DENIED
Management Non-Cooperative (91-44-42111000)
91-9380530905 - Continuously Ringing
LOCATIONS
|
Registered / Head Office : |
121/3, TTK Road, Manickam Avenue, Chennai – 600018, Tamilnadu, India |
|
Tel. No.: |
91-44-42111000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Vinod Kumar Saraogi |
||||||||||||||||||||||||
|
Designation : |
Managing Director |
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|
Address : |
No. 51, Chamiers Road, R.A. Puram, Chennai – 600028, Tamilnadu, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
12.07.1955 |
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|
Date of Appointment : |
01.01.2010 |
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DIN No.: |
00496254 |
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Other Directorship:
|
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|
|
||||||||||||||||||||||||
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Name : |
Mr. Prakash Kumar Saraogi |
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|
Designation : |
Wholetime Director |
||||||||||||||||||||||||
|
Address : |
6A, Nithyashree Apartment, No. 51, Chamiers Road, R.A. Puram, Chennai
– 600028, Tamilnadu, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
04.11.1958 |
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|
Date of Appointment : |
01.01.2010 |
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DIN No.: |
00496255 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Name : |
Mr. Rahul Saraogi |
||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||
|
Address : |
No. 51, Chamiers Road, Flat No. 5A, R.A. Puram, Chennai – 600028, Tamilnadu,
India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
23.02.1979 |
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|
Date of Appointment : |
21.07.2008 |
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DIN No.: |
00496259 |
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Other Directorship:
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|
|
||||||||||||||||||||||||
|
Name : |
Mr. Prahlad Rai |
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|
Designation : |
Director |
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|
Address : |
No. 51, Chamiers Road, R.A. Puram, Chennai – 600028, Tamilnadu, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
14.05.1935 |
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Date of Appointment : |
06.04.1993 |
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DIN No.: |
00496262 |
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Other Directorship:
|
|||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Name : |
Mr. Gautam Saraogi |
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|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
6A, Nitya Shree Apartments, Chamiers Road, R A Puram, Chennai –
600028, Tamilnadu, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
14.10.1988 |
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|
Date of Appointment : |
01.04.2012 |
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|
DIN No.: |
03209296 |
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|
Other Directorship:
|
|||||||||||||||||||||||||
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Prahlad Rai |
|
1006667 |
|
Mohini Devi |
|
3020000 |
|
Vinod Kumar Saraogi |
|
3020000 |
|
Prakash Kumar Saraogi |
|
3020000 |
|
Usha Devi Saraogi |
|
3020000 |
|
Pushpa Devi Saraogi |
|
3020000 |
|
Rahul Saraogi |
|
2013333 |
|
Gautam Saraogi |
|
2013333 |
|
|
|
|
|
Total |
|
20133333 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
dealer and trader of all types of fabric, garments, apparels, dresses, fabric
products. [Registered Activity] |
||||
|
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|
||||
|
Products / Services
: |
|
||||
|
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|
||||
|
Brand Names : |
Not Available |
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|
||||
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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|
||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
|
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|
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Facilities : |
|
|
Auditors : |
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|
Name : |
Mohan and Venkataraman Chartered Accountants |
|
Address : |
No. 5/9, Ashoka Street, Alwarpet, Chennai – 600018, Tamilnadu, India |
|
PAN No.: |
AADFM1349P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
· Meridian Investments · Go Fashion (India) Private Limited ·
Renova Enertech Private Limited |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners
with Key management personnel and their relatives : |
· Credera Global (Singapore) Pte. Limited, Singapore |
|
|
|
|
Others : |
· SRV Telecom Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20150000 |
Equity Shares |
INR 10/- each |
INR 201.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20133333 |
Equity Shares |
INR 10/- each |
INR 201.333 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 |
201.300 |
201.300 |
151.000 |
|
(b) Reserves & Surplus |
171.200 |
153.900 |
179.000 |
|
(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) |
372.500 |
355.200 |
330.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
19.000 |
24.100 |
33.200 |
|
(c) Other long term
liabilities |
9.100 |
5.100 |
7.800 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
28.100 |
29.200 |
41.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
354.900 |
342.100 |
352.400 |
|
(b) Trade
payables |
131.200 |
67.500 |
89.500 |
|
(c) Other
current liabilities |
30.600 |
31.200 |
44.700 |
|
(d) Short-term
provisions |
11.200 |
10.900 |
11.900 |
|
Total Current
Liabilities (4) |
527.900 |
451.700 |
498.500 |
|
|
|
|
|
|
TOTAL |
928.500 |
836.100 |
869.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
286.500 |
300.000 |
333.700 |
|
(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 |
42.300 |
2.300 |
2.300 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
5.800 |
7.200 |
7.300 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
334.600 |
309.500 |
343.300 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
244.900 |
338.700 |
346.300 |
|
(c) Trade
receivables |
237.700 |
77.400 |
48.700 |
|
(d) Cash
and cash equivalents |
40.300 |
20.100 |
28.000 |
|
(e)
Short-term loans and advances |
58.600 |
82.100 |
77.700 |
|
(f) Other current
assets |
12.400 |
8.300 |
25.500 |
|
Total
Current Assets |
593.900 |
526.600 |
526.200 |
|
|
|
|
|
|
TOTAL |
928.500 |
836.100 |
869.500 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
967.500 |
862.400 |
1326.100 |
|
|
Other Income |
14.800 |
11.000 |
7.800 |
|
|
TOTAL |
982.300 |
873.400 |
1333.900 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
597.100 |
458.900 |
810.800 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.400) |
24.700 |
0.000 |
|
|
Employee benefit expense |
84.100 |
110.600 |
119.800 |
|
|
Other expenses |
230.800 |
193.600 |
330.600 |
|
|
TOTAL |
909.600 |
787.800 |
1261.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
72.700 |
85.600 |
72.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
33.200 |
36.000 |
20.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
39.500 |
49.600 |
52.600 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
23.300 |
29.300 |
43.100 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
16.200 |
20.300 |
9.500 |
|
|
|
|
|
|
|
Less |
TAX |
(1.100) |
(4.900) |
2.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
17.300 |
25.200 |
7.200 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.86 |
1.25 |
0.48 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
20.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
83.500 |
27.900 |
89.900 |
|
Net cash flows from (used in) operating activities |
83.500 |
27.900 |
89.900 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
89.67 |
32.76 |
13.40 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.07 |
11.14 |
27.23 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
80.20 |
53.69 |
40.29 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.30 |
0.25 |
0.21 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.25 |
0.29 |
0.22 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.57 |
0.54 |
0.60 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.95 |
0.96 |
1.13 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.42 |
1.27 |
1.51 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.77 |
0.84 |
1.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.19 |
2.38 |
3.62 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
1.79 |
2.92 |
0.54 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.86 |
3.01 |
0.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.64 |
7.09 |
2.18 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.13 |
1.17 |
1.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.66 |
0.42 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.40 |
0.42 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.76 |
1.70 |
2.47 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.13 |
1.17 |
1.06 |
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 |
151.000 |
201.300 |
201.300 |
|
Reserves & Surplus |
179.000 |
153.900 |
171.200 |
|
Net
worth |
330.000 |
355.200 |
372.500 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
352.400 |
342.100 |
354.900 |
|
Current maturities of
long-term debts |
20.000 |
0.000 |
0.000 |
|
Total
borrowings |
372.400 |
342.100 |
354.900 |
|
Debt/Equity
ratio |
1.128 |
0.963 |
0.953 |
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 |
1326.100 |
862.400 |
967.500 |
|
|
|
(34.967) |
12.187 |
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 |
1326.100 |
862.400 |
967.500 |
|
Profit/ (Loss) |
7.200 |
25.200 |
17.300 |
|
|
0.54
% |
2.92
% |
1.79
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
201.333 |
201.333 |
|
(b) Reserves and Surplus |
|
178.332 |
149.918 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
379.665 |
351.251 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
19.118 |
24.118 |
|
(c) Other long-term
liabilities |
|
9.121 |
5.074 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
28.239 |
29.192 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
354.856 |
342.076 |
|
(b) Trade payables |
|
131.280 |
75.529 |
|
(c) Other
current liabilities |
|
30.638 |
31.823 |
|
(d) Short-term
provisions |
|
11.603 |
11.001 |
|
Total Current
Liabilities (4) |
|
528.377 |
460.429 |
|
|
|
|
|
|
TOTAL |
|
936.281 |
840.872 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
286.740 |
300.147 |
|
(ii)
Intangible Assets |
|
0.750 |
0.750 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
42.034 |
0.036 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term
loans and advances |
|
5.805 |
7.244 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
335.329 |
308.177 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
244.885 |
347.119 |
|
(c) Trade
receivables |
|
237.660 |
77.386 |
|
(d) Cash and bank
balances |
|
45.633 |
27.730 |
|
(e)
Short-term loans and advances |
|
58.731 |
70.890 |
|
(f) Other
current assets |
|
14.043 |
9.570 |
|
Total
Current Assets |
|
600.952 |
532.695 |
|
|
|
|
|
|
TOTAL |
|
936.281 |
840.872 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
992.306 |
862.437 |
|
|
Other Income |
|
15.410 |
11.518 |
|
|
TOTAL |
|
1007.716 |
873.955 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
588.838 |
524.748 |
|
|
Purchases of
Stock-in-Trade |
|
1.049 |
8.301 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
14.243 |
(49.377) |
|
|
Employee benefit expense |
|
84.824 |
111.066 |
|
|
Other expenses |
|
231.697 |
194.243 |
|
|
TOTAL |
|
920.651 |
788.981 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
87.065 |
84.974 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
36.425 |
39.661 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
50.640 |
45.313 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
23.385 |
29.364 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
27.255 |
15.949 |
|
|
|
|
|
|
|
Less |
TAX |
|
0.839 |
(4.968) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
26.416 |
20.917 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
|
1.31 |
1.04 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
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 |
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 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G43852185 |
100108129 |
L&T FINANCE LIMITED |
05/02/2016 |
- |
- |
100000000.0 |
TECHNOPOLIS, 7TH FLOOR, A- WING, PLOT NO. - 4,BLOCK - BP, SECTOR -V, SALT LAKE KOLKATA WE700091IN |
|
2 |
G41408519 |
100106825 |
STATE BANK OF INDIA |
01/07/2015 |
- |
- |
75000000.0 |
SME ADYAR, 2ND FLOOR, 5, FIRST CROSS STREET KASTURBA NAGAR, ADYAR CHENNAI TN600020IN |
|
3 |
B91947994 |
10464131 |
EXPORT IMPORT BANK OF INDIA |
06/12/2013 |
06/12/2013 |
- |
97500000.0 |
FLOOR 21, CENTRE ONE BUILDING, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE MUMBAI MH400005IN |
|
4 |
C61661823 |
10179148 |
STATE BANK OF INDIA |
23/09/2009 |
16/07/2015 |
- |
199000000.0 |
S.M.E. BRANCH 65 - A, G.S.T ROAD, GUINDY CHENNAI TN600032IN |
|
5 |
C46493250 |
90287473 |
UNION BANK OF INDIA |
28/07/1997 |
16/02/2015 |
- |
290000000.0 |
OVERSEAS BRANCH, NO. 139, PRAKASAM SALAI FIRST FLOOR, UNION BANK BHAVAN, BROADWAY CHENNAI TN600108IN |
|
6 |
C61397089 |
10238421 |
EXPORT IMPORT BANK OF INDIA |
16/09/2010 |
09/02/2011 |
11/08/2015 |
100000000.0 |
FLOOR 21, CENTRE ONE BUILDING, WORLD TRADE CENTER, CUFFE PARADE MUMBAI MH400005IN |
|
7 |
C62270434 |
10071568 |
UNION BANK OF INDIA |
31/08/2007 |
- |
03/08/2015 |
20000000.0 |
OVERSEAS BRANCH 96, G. N. CHETTY ROAD CHENNAI TN600017IN |
|
8 |
C62271192 |
90307675 |
UNION BANK OF INDIA |
28/07/1997 |
17/12/2004 |
03/08/2015 |
111500000.0 |
OVERSEAS BRANCH G.N. CHETTY ROAD; T. NAGAR CHENNAI TN600017IN |
|
9 |
C62269451 |
10466121 |
UNION BANK OF INDIA |
27/11/2013 |
- |
03/08/2015 |
20000000.0 |
OVERSEAS BRANCH, G.N. CHETTY ROAD, T. NAGAR CHENNAI TN600017IN |
|
10 |
C62271721 |
90307638 |
UNION BANK OF INDIA |
27/11/1996 |
09/12/1996 |
03/08/2015 |
101500000.0 |
OVERSEAS BRANCH CHENNAI TN600017IN |
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 |
|
|
1 |
INR 92.26 |
|
Euro |
1 |
INR 80.76 |
INFORMATION DETAILS
|
Information Gathered
by : |
AKS |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NKT |
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.