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MIRA INFORM REPORT
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Report No. : |
500196 |
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Report Date : |
29.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUPERNOVA ENGINEERS LIMITED [w.e.f.21.04.1995] |
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Formerly Known
As : |
SUPERNOVA ENGINEERS PRIVATE LIMITED |
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Registered
Office : |
F2, First Floor, Shapath Hexa, Near Sola Bridge, Opposite Gujarat High
Court, Sarkhej Gandhinagar Road, Ahmedabad-380060, Gujarat |
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Tel. No.: |
91-79-26401450 / 32935001 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
02.02.1987 |
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Com. Reg. No.: |
04-009346 |
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Capital
Investment / Paid-up Capital : |
INR 46.250 Million |
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CIN No.: [Company Identification
No.] |
U31100GJ1987PLC009346 |
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IEC No.: |
0894003003 |
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GST No.: |
24AACCS6758G1Z7 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCS6758G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of Manufacturer, Trader and Exporter of Diesel Generators Set, Acoustic Enclosure and Control Panel, etc. and also Providing Services for the same. (Registered Activity and also Confirmed by Management) |
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No. of Employees
: |
160 [Approximately] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 971500 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1987. It is a manufacturer and exporter of Diesel Generators Set, Acoustic Enclosure and Control Panel also engaged in providing services for the same. For the financial year 2017, the company has reported decline in its revenue as compared to previous year but has managed to maintain average profit margin of 1.16%. The satisfactory financial profile of the company is marked by sufficient networth base along with negligible debt level. The rating takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters. However, these rating strengths are partially offset by moderate scale of operations in the intensely competitive industry along with low profitability and working capital intensive operations. Business is active. Payment seems to be usually correct. In view of aforesaid, the subject can be considered for business dealings at usual trade terms and conditions. NOTE: Site Visit was conducted at the given address and our executive has successfully traced the subject at the given address. At the premises our executive met Mr. Pushpendra Kumar (Marketing and Sales Manager) and he provided visiting card of the subject. As per our executive’s observation it is a 10 storey building and subject situated on the 1st floor. Location was easy to find and locality appears to be commercial. Area seems to be upmarket. Total area of premises is 2000 (sq. ft.) and 25 employees were sighted at the premises. Name board of the subject was sighted. |
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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long term = BBB- |
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Rating Explanation |
Moderate degree of safety and moderate credit risk |
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Date |
31.10.2017 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term = A3 |
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Rating Explanation |
Moderate degree of safety and higher credit risk |
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Date |
31.10.2017 |
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 PARTED BY
|
Name : |
Mr. Pushpendra Kumar |
|
Designation : |
Senior Manager in Sales and Marketing |
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Contact No.: |
91-7977784416 |
|
Date : |
28.03.2018 |
LOCATIONS
|
Registered Office : |
F2, First Floor, Shapath Hexa, Near Sola Bridge, Opposite Gujarat High
Court, Sarkhej Gandhinagar Road, Ahmedabad-380060, Gujarat, India |
|
Tel. No.: |
91-79-26401450 / 32935001 |
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|
91-7977784416 [Mr. Pushpendra Kumar] 91-9327140007 [Mr. Darshin Desai] |
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Fax No.: |
91-79-26400004 |
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E-Mail : |
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Website : |
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Area: |
2000 Sq. Ft. [As per site visit] |
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Locality: |
Commercial [As per site visit] |
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Marketing/ Corporate Office : |
3rd Floor, Gopal Palace – ‘A’ Wing, Opposite Ocean Park, Nehru
Nagar Cross Road, Ahmedabad, Gujarat, India |
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Tel. No.: |
91-79-32422163/ 32422166/ 26766824 |
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Fax No.: |
91-79-26766825 |
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E-Mail : |
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Factory 1 : |
Rajpur: 1470/1, Village, Rajpur, Taluka, Kadi, District Mehsana, Gujarat,
India |
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Tel. No.: |
91-2764-324852/ 856 |
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Fax No.: |
91-2764-278469 |
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Factory 2 : |
Silvassa: Survey No. 263/2/1, Plot No. 1, Village Sayli, Silvassa, Dadra and Nagar
Haveli [U.T], India |
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Tel. No.: |
91-260-2996630/ 32 |
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Fax No.: |
91-260-2996631 |
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Branch Offices: |
Located at: · Hyderabad · Patna · Bangalore · Kochi |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Samir Vasudev Mistry |
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Designation : |
Managing Director |
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Address : |
14, Pushpadhanvan Bungalows, Opposite Taksheela Flats, Vastrapur,
Ahmedabad-380015, Gujarat, India |
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Date of Birth/Age : |
15.11.1961 |
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Qualification : |
Diploma in Electric Engineering |
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Date of Appointment : |
01.12.2013 |
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DIN : |
01376697 |
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Name : |
Mr. Unmesh Vasudev Mistry |
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Designation : |
Whole Time Director |
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Address : |
14, Pushpadhanvan Bungalows, Opposite Taksheela Flats, Vastrapur,
Ahmedabad-380015, Gujarat, India |
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Date of Birth/Age : |
10.11.1965 |
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Qualification : |
B.Com |
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Date of Appointment : |
01.08.2009 |
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DIN : |
01637552 |
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Name : |
Mrs. Rinshu Naresh Gulyani |
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Designation : |
Director |
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Address : |
12 - Arat Flat, Durga High School, Maninagar, Ahmedabad – 380008, Gujarat, India |
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Date of Appointment : |
09.05.2015 |
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DIN : |
07177204 |
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Name : |
Mr. Anand Bharatkumar Raval |
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Designation : |
Director |
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Address : |
601-Labh, Sukan Tower Near Judges Bunglow Cross Road, Bodakdev Ahmedabad - 380054, Gujarat, India |
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Date of Appointment : |
17.12.2016 |
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DIN : |
07679681 |
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Name : |
Mr. Nishit Parimal Ghelani |
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Designation : |
Director |
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Address : |
H-902 Tulip Citadel, Opposite Essic Staff Qrts, Shreyas Tekra, Ahmedabad - 380015, Gujarat, India |
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Date of Appointment : |
05.05.2017 |
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DIN : |
07812254 |
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KEY EXECUTIVES
|
Name : |
Mr. Pushpendra Kumar |
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Designation : |
Senior Manager in Sales and Marketing |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of
holding |
|
Samir Misery |
654750 |
14.16 |
|
Unmesh Mistry |
669900 |
14.48 |
|
Nitin c Thakkar |
150000 |
3.24 |
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Varsudev Mistry |
235600 |
5.09 |
|
Surekhaben Mistry |
211100 |
4.56 |
|
Trupti Mistry |
899650 |
19.45 |
|
Hita Mistry |
740500 |
16.01 |
|
Samir Misery HUF |
400600 |
8.66 |
|
Unmesh Mistry HUF |
17100 |
0.37 |
|
Vasudev Mistry HUF |
180800 |
3.91 |
|
Supernova Systems Private Limited, India |
465000 |
10.05 |
|
|
|
|
|
Total |
4625000 |
100.00 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
89.95 |
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Promoters (Body corporate) |
10.05 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Manufacturer, Trader and Exporter of Diesel Generators Set, Acoustic Enclosure and Control Panel, etc. and also Providing Services for the same. (Registered Activity and also Confirmed by Management) |
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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 : |
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Products: |
Finished Goods |
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Countries: |
· Gulf Countries · African Countries |
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Imports : |
Not Available |
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Terms : |
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Selling : |
L/C, RTGS and NEFT |
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Purchasing : |
L/C, RTGS and NEFT |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEM’s
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No. of Employees : |
160 [Approximately] |
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Bankers : |
· Bank of India Ahmedabad Corporate Banking Branch, 2nd Floor, Bank of India Building, Bhadra, Ahmedabad - 380001, Gujarat, India · Development Credit Bank Limited C. G. Road Branch, 8th Floor, Pariseema Annexe, Opposite IFC Bhavan, C. G. Road, Ahmedabad - 380006, Gujarat, India ·
ICICI Bank Limited |
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Facilities : |
|
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Financial Institutions : |
· Sundaram Finance Limited No. 21, Patullos Road, Chennai - 600002, Tamilnadu, India · PNB Investment Services Limited |
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|
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Auditors : |
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|
Name : |
Talati and Talati Chartered Accountant |
|
Address : |
2nd and 3rd Floor, Ambica Chambers, Near Old
High Court, Navrangpura, Ahmedabad-380009, Gujarat, India |
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Tel. No.: |
91-79-27544571 / 72 |
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Fax No.: |
91-79-27542233 / 30084575 |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFT4520A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and their
relatives: |
· Supernova Systems Private Limited [U31110GJ1989PTC012833] · Autonova Motors Private Limited [U50100GJ2005PTC045283] · Nixynova Motoren Private Limited [U50100GJ2008PTC053617] |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5250000 |
Equity Shares |
INR 10/- each |
INR 52.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4625000 |
Equity Shares |
INR 10/- each |
INR 46.250
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 |
46.250 |
46.250 |
46.250 |
|
(b) Reserves and Surplus |
293.784 |
277.960 |
262.829 |
|
(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) |
340.034 |
324.210 |
309.079 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
9.783 |
20.704 |
|
(b) Deferred tax liabilities (Net) |
17.516 |
18.315 |
18.431 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
5.173 |
2.334 |
2.217 |
|
Total Non-current
Liabilities (3) |
22.689 |
30.432 |
41.352 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
330.995 |
404.754 |
432.115 |
|
(b) Trade
payables |
219.495 |
256.138 |
200.561 |
|
(c) Other
current liabilities |
36.309 |
51.986 |
45.568 |
|
(d) Short-term
provisions |
31.087 |
16.022 |
2.287 |
|
Total Current
Liabilities (4) |
617.886 |
728.900 |
680.531 |
|
|
|
|
|
|
TOTAL |
980.609 |
1083.542 |
1030.962 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
162.033 |
171.195 |
166.870 |
|
(ii)
Intangible Assets |
0.317 |
0.082 |
0.185 |
|
(iii) Tangible assets
capital work-in-progress |
17.241 |
0.000 |
4.013 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.166 |
0.166 |
0.166 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
2.731 |
6.048 |
8.332 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
182.488 |
177.491 |
179.566 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
339.144 |
357.987 |
232.567 |
|
(c) Trade
receivables |
249.402 |
216.762 |
307.506 |
|
(d) Cash and
bank balances |
130.602 |
266.875 |
252.479 |
|
(e)
Short-term loans and advances |
76.775 |
63.920 |
58.288 |
|
(f) Other
current assets |
2.198 |
0.507 |
0.556 |
|
Total
Current Assets |
798.121 |
906.051 |
851.396 |
|
|
|
|
|
|
TOTAL |
980.609 |
1083.542 |
1030.962 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations (Net) |
1527.393 |
1533.893 |
1055.560 |
|
|
Other Income |
12.481 |
0.000 |
3.515 |
|
|
TOTAL |
1539.874 |
1533.893 |
1059.075 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1239.619 |
1251.775 |
819.274 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(4.378) |
0.000 |
0.000 |
|
|
Employee benefit expense |
74.833 |
54.456 |
43.866 |
|
|
Other expenses |
146.592 |
152.223 |
131.196 |
|
|
TOTAL |
1456.666 |
1458.454 |
994.336 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
83.208 |
75.439 |
64.739 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
42.323 |
36.472 |
33.952 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
40.885 |
38.967 |
30.787 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
16.007 |
15.053 |
14.712 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
24.878 |
23.914 |
16.075 |
|
|
|
|
|
|
|
Less |
TAX |
7.281 |
8.884 |
5.354 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
17.597 |
15.030 |
10.721 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
170.213 |
36.107 |
15.057 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
321.564 |
321.467 |
323.663 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.81 |
3.25 |
2.32 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
9.993 |
13.399 |
7.968 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(85.393) |
87.241 |
(39.278) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(93.393) |
82.196 |
(43.778) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
59.60 |
51.58 |
106.33 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.12 |
7.08 |
3.43 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
64.63 |
74.69 |
89.35 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.25 |
0.21 |
0.28 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.46 |
0.44 |
0.38 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.64 |
0.69 |
0.69 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.00 |
1.32 |
1.49 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.82 |
2.25 |
2.20 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.53 |
0.53 |
0.55 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.97 |
2.07 |
1.91 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.15 |
0.98 |
1.02 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.79 |
1.39 |
1.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.18 |
4.64 |
3.47 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.29 |
1.24 |
1.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.74 |
0.75 |
0.91 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.35 |
0.30 |
0.30 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
7.37 |
9.25 |
9.96 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.29 |
1.24 |
1.25 |
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 |
46.250 |
46.250 |
46.250 |
|
Reserves & Surplus |
262.829 |
277.960 |
293.784 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
309.079 |
324.210 |
340.034 |
|
|
|
|
|
|
Long-term borrowings |
20.704 |
9.783 |
0.000 |
|
Short term borrowings |
432.115 |
404.754 |
330.995 |
|
Current maturities of
long-term debts |
7.968 |
13.399 |
9.993 |
|
Total
borrowings |
460.787 |
427.936 |
340.988 |
|
Debt/Equity
ratio |
1.491 |
1.320 |
1.003 |
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 |
1055.560 |
1533.893 |
1527.393 |
|
|
|
45.316 |
(0.424) |
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 |
1055.560 |
1533.893 |
1527.393 |
|
Profit |
10.721 |
15.030 |
17.597 |
|
|
1.02
% |
0.98
% |
1.15
% |
LEGAL CASE
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 |
Yes |
|
5 |
Buyer visit details |
Yes |
|
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OBSERVATION POINTS
|
Name of Company : |
SUPERNOVA ENGINEERS LIMITED |
|
|
|
|
Address : |
F2, First Floor, Shapath Hexa, Near Sola Bridge, Opposite Gujarat High
Court, Sarkhej Gandhinagar Road, Ahmedabad-380060, Gujarat, India |
|
Contact No.: |
91-79-26401450 / 32935001 |
|
|
|
|
Date of Visit : |
29.03.2018 |
|
|
|
|
Person to whom we met: |
Mr. Pushpendra Kumar [Senior Manager in Sales and Marketing] |
|
|
|
|
Name Board : |
Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Landmark (If Any): |
Next to Ganesh Meridian |
|
|
|
|
Total Floors of the Building : |
10 Floors |
|
|
|
|
Subject situated on: |
1st Floor |
|
|
|
|
Locality: |
Commercial |
|
|
|
|
Area of Premises : |
2000 Sq. Ft. |
|
|
|
|
Area : |
Upmarket |
|
|
|
|
No. of employees seen at premises: |
25 [Approx.] |
|
|
|
|
Visibility of
Items: |
·
Telephone ·
Computers ·
Air Conditioner ·
Office Equipment |
|
|
|
|
Proof of visit: |
Photos and Visiting Card |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G48490239 |
100036348 |
PNB INVESTMENT
SERVICES LIMITED |
10/06/2016 |
30/05/2017 |
- |
650000000.0 |
C/O PUNJAB
NATIONAL BANK, CIRCLE OFFICE, 6TH FLOORGUJARAT BHAVAN, NEAR M.J LIABRARY,
ASHRAM ROADAHMEDABADGJ380009IN |
|
2 |
C62579289 |
10588017 |
ICICI BANK LIMITED |
10/07/2015 |
- |
- |
1200000.0 |
LANDMARKRACE
COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
3 |
G48489686 |
10558792 |
PNB INVESTMENT
SERVICES LIMITED |
12/03/2015 |
18/05/2017 |
- |
650000000.0 |
C/O PUNJAB NATIONAL
BANK, CIRCLE OFFICE, 6TH FLOORGUJARAT BHAVAN, NEAR M.J LIABRARY, ASHRAM
ROADAHMEDABADGJ380009IN |
|
4 |
G25078049 |
90112928 |
DCB BANK LIMITED |
18/11/2004 |
17/11/2016 |
- |
375000000.0 |
"PRERNA
ACADE", GROUND FLOOR, OPP.DOCTOR HOUSE,NEAR PARIMAL GARDEN,
C.G.ROADAHMEDABADGJ380006IN |
|
5 |
G25072620 |
90111795 |
DCB BANK LIMITED |
10/11/2004 |
17/11/2016 |
- |
285000000.0 |
"PRERNA
ACADE", GROUND FLOOR, OPP.DOCTOR HOUSE,NEAR PARIMAL GARDEN, C.G.ROADAHMEDABADGJ380006IN |
|
6 |
G25012493 |
10320533 |
BANK OF INDIA |
08/11/2011 |
- |
17/11/2016 |
3500000.0 |
AHMEDABAD MID
CORPORATE BRANCH, 1ST FLOORBOI BUILDING, SWASTIK CHAR RASTA, C. G.
ROADAHMEDABADGJ380009IN |
|
7 |
G25014085 |
10194966 |
BANK OF INDIA |
21/12/2009 |
- |
17/11/2016 |
22000000.0 |
AHMEDABAD
CORPORATE BANKING BRANCH2ND FLOOR, BANK OF INDIA BUILDING,
BHADRA,AHMEDABADGJ380001IN |
|
8 |
G25020124 |
10588164 |
BANK OF INDIA |
11/08/2015 |
- |
17/11/2016 |
8700000.0 |
MID-CORPORATE BRANCH,
BANK OF INDIA BUILDING1ST FLOOR, SWASTIK CHAR RASTA,
NAVRANGPURAAHMEDABADGJ380009IN |
|
9 |
G25017351 |
10197867 |
BANK OF INDIA |
21/12/2009 |
- |
17/11/2016 |
20500000.0 |
AHMEDABAD
CORPORATE BANKING BRANCH2ND FLOOR, BANK OF INDIA BUILDING, BHADRA,AHMEDABADGJ380001IN |
|
10 |
A80596539 |
10194171 |
BANK OF INDIA |
21/12/2009 |
- |
09/03/2010 |
22000000.0 |
AHMEDABAD
CORPORATE BANKING BRANCH2ND FLOOR, BANK OF INDIA BUILDING,
BHADRA,AHMEDABADGJ380001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
159.986 |
102.903 |
|
Loans and advances from directors |
2.900 |
3.248 |
|
|
|
|
|
Total |
162.886 |
106.151 |
REVIEW OF BUSINESS
OPERATIONS AND FUTURE PROSPECTS
The Company is engaged in the business of trading, providing service and manufacturing of diesel generators. The Company’s total income from operations for the year was INR 1521.488 million as compared to INR 1524.998 million of previous year. The overall business has remained almost stagnant.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Bank Guarantee issued on behalf of the company |
88.446 |
83.276 |
|
Service Tax matters pending before appellate authorities |
13.002 |
13.002 |
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipment’s
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 65.04 |
|
UK Pound |
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION
DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--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 opera tions 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.