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|
|
MIRA INFORM REPORT
|
Report No. : |
500964 |
|
Report Date : |
30.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SAHAJ SOLAR PRIVATE LIMITED |
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|
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Registered
Office : |
Office No. 301 Ashirwad Paras, Corporate Road, Prahladnagar, Ahmedabad- 380015, Gujarat |
|
Tel. No.: |
91-79-40284000/ 40192695 |
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|
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
26.02.2010 |
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|
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Com. Reg. No.: |
04-059713 |
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Capital
Investment / Paid-up Capital : |
INR 15.000 Million |
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|
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CIN No.: [Company Identification
No.] |
U17200GJ2010PTC059713 |
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|
|
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IEC No.: [Import-Export Code No.] |
5210001652 |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
24AANCS9433K1ZT |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AANCS9433K |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
[Registered Activity]
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 73000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2010 and it is having
satisfactory track records. For the financial year 2017, the company has increased its revenue from
operations as compared to previous year and maintained average profitability
margin of 3.47%. General financial position of the company seems to be sound and
acceptable along with low debt balance sheet. Further, rating also reflects from its experienced promoters as well
as reputed clientele in its portfolio and certified operations and
improvement in the revenue as well as profitability profile during the year. Trade relations are reported as fair. Business is active. Payment
terms are 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 |
CARE |
|
Rating |
Long term rating = BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
05.10.2017 |
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 30.03.2018.
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. Bhavik |
|
Designation : |
Project Engineer |
|
Contact No.: |
91-79-40284000 |
|
Date : |
30.03.2018 |
LOCATIONS
|
Registered Office / Corporate Office : |
Office No. 301 Ashirwad Paras, Corporate Road, Prahaladnagar. Ahmedabad- 380015, Gujarat, India |
|
Tel. No.: |
91-79-40284000/ 40192695 |
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Fax No.: |
91-79-40284001 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Locality: |
Commercial |
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|
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Factory: |
Survey No. 421/2, Moraiya Village, Near Parikh Palkaging Moraiya,
Ahmedabad – 382213, Gujarat, India |
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Branch Office 1
: |
202, Radha Swami Sangath, Ananad VV Nagar Road, Anand-388120, Gujarat, India |
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Tel. No.: |
91-2692-606047 |
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Branch Office 2
: |
106, Arvind Business Centre, Jai Antriksh Building, Makwana Road, Marol, Opposite Mittal Industrial Estate, Andheri (East), Mumbai-400059, Maharashtra, India |
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|
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Branch Office 3
: |
1106, Antartiksh Building, 11th Floor, K.G Marg, New Delhi-110001, India |
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Tel. No.: |
91-11-60604747 |
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Branch Office 4
: |
2nd Floor, Kobe Towers, 385, Kamarajar Road (Opposite to RHR Hotel), Coimbatore - 641004, Tamilnadu, India |
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Tel. No.: |
91-422-4388676 |
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Branch Office 5
: |
2nd Floor, Above SBI Bank, Shiv Colony Budhpur Road, Rewari-123401, Haryana, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Pramit Bharat Brahmbhatt |
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Designation : |
Director |
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Address : |
A1001, Sarthak Towers, Ramdevnagar Satellite Road, Ahmedabad - 380015, Gujarat, India |
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Date of Appointment : |
04.11.2014 |
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DIN No.: |
02400764 |
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Other Directorship:
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Name : |
Mr. Kanaksinh Agarsinh Gohil |
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Designation : |
Director |
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Address : |
6, Veenakunj Society, Vejalpur, Ahmedabad - 380051, Gujarat, India |
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Date of Appointment : |
04.11.2014 |
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DIN No.: |
02917131 |
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Other Directorship:
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Name : |
Mr. Sunil Harshadray Trivedi |
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Designation : |
Director |
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Address : |
D-146, Ashok Nagar, Satellite Road, Ahmedabad-380015, Gujarat, India |
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Date of Appointment : |
01.07.2017 |
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DIN No.: |
01670280 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Bhavik |
|
Designation : |
Project Engineer |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Varna Brahmbhatt |
|
1499998 |
|
Pramit Brahmbhatt |
|
2 |
|
Total |
|
1500000 |
AS ON 04.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
[Registered Activity]
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Products / Services
: |
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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 : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Others (NEFT, RTGS) |
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Purchasing : |
Others (NEFT, RTGS) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Corporate
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Rohan Thakkar and Company Chartered Accountants |
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Address : |
A-110 Oxford Avenue, Opposite C U Shah College, Ashram Road, Ahmedbad-380014, Gujarat, India |
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Tel. No.: |
91-79-40324877 |
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Mobile No.: |
91-9228720536 |
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E-Mail : |
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PAN No.: |
AGOPT2232P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Company in which directors of the company is able to exercise control
or have significant influence: : |
· Veracity Advisory Services Private Limited · Veracity Financial Services Private Limited · Veracity Energy and Infrastructure Private Limited · Veracity Broking Services Private Limited |
CAPITAL STRUCTURE
AFTER 04.09.2017
Authorised Capital : INR 60.000 Million
Issued, Subscribed & Paid-up Capital : INR 25.000 Million
AS ON 04.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
INR 10/- each |
INR 15.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
INR 10/- each |
INR 15.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
15.000 |
2.600 |
2.600 |
|
(b) Reserves &
Surplus |
10.562 |
2.440 |
0.377 |
|
(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) |
25.562 |
5.040 |
2.977 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
18.919 |
41.085 |
2.177 |
|
(b) Deferred tax
liabilities (Net) |
0.195 |
0.000 |
0.000 |
|
(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) |
19.114 |
41.085 |
2.177 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5.517 |
8.625 |
0.000 |
|
(b) Trade payables |
9.558 |
2.741 |
14.898 |
|
(c) Other current
liabilities |
29.377 |
2.579 |
0.000 |
|
(d) Short-term provisions |
1.908 |
0.878 |
0.845 |
|
Total Current Liabilities
(4) |
46.360 |
14.823 |
15.743 |
|
|
|
|
|
|
TOTAL |
91.036 |
60.948 |
20.897 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
19.888 |
21.270 |
13.414 |
|
(ii) Intangible Assets |
0.373 |
0.061 |
0.000 |
|
(iii) Capital
work-in-progress |
16.097 |
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 |
0.152 |
0.524 |
|
(d) Long-term Loan and Advances |
0.702 |
0.722 |
0.618 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
37.060 |
22.205 |
14.556 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
40.014 |
17.745 |
1.058 |
|
(c) Trade receivables |
1.689 |
9.272 |
1.398 |
|
(d) Cash and cash
equivalents |
0.770 |
5.987 |
2.233 |
|
(e) Short-term loans and
advances |
3.793 |
5.739 |
1.652 |
|
(f) Other current assets |
7.710 |
0.000 |
0.000 |
|
Total Current Assets |
53.976 |
38.743 |
6.341 |
|
|
|
|
|
|
TOTAL |
91.036 |
60.948 |
20.897 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
234.286 |
106.878 |
33.835 |
|
|
Other Income |
1.265 |
2.595 |
3.914 |
|
|
TOTAL |
235.551 |
109.473 |
37.749 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
165.371 |
87.959 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
32.240 |
0.000 |
21.996 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(18.629) |
(9.341) |
8.088 |
|
|
Employees benefits
expense |
10.533 |
5.010 |
1.642 |
|
|
Other expenses |
23.478 |
14.082 |
3.660 |
|
|
TOTAL |
212.993 |
97.710 |
35.386 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
22.558 |
11.763 |
2.363 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
5.741 |
5.229 |
0.691 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
16.817 |
6.534 |
1.672 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
4.640 |
3.509 |
1.322 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
12.177 |
3.025 |
0.350 |
|
|
|
|
|
|
|
Less |
TAX |
4.055 |
0.962 |
0.080 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
8.122 |
2.063 |
0.270 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.092 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
0.092 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
99.330 |
21.458 |
0.000 |
|
|
TOTAL IMPORTS |
99.330 |
21.458 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
10.21 |
9.39 |
2.70 |
Expected Sales (2017-2018): INR 230.000 Million
The above information has been parted by Mr. Bhavik (Project Engineer)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
3.785 |
0.000 |
NA |
|
Cash generated from operations |
29.114 |
(21.575) |
NA |
|
Net cash flow from operating activities |
25.406 |
(22.165) |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
2.63 |
31.66 |
15.08 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
138.71 |
11.53 |
24.20 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
17.65 |
11.37 |
247.22 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.56 |
0.66 |
2.23 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.62 |
0.55 |
0.18 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.76 |
0.92 |
0.86 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.10 |
9.86 |
0.73 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.81 |
2.94 |
5.29 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.42 |
4.23 |
4.51 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.93 |
2.25 |
3.42 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
3.47 |
1.93 |
0.80 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
8.92 |
3.38 |
1.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
31.77 |
40.93 |
9.07 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.16 |
2.61 |
0.40 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.30 |
1.42 |
0.34 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.28 |
0.08 |
0.14 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.88 |
19.12 |
0.84 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.16 |
2.61 |
0.40 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
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 |
2.600 |
2.600 |
15.000 |
|
Reserves & Surplus |
0.377 |
2.440 |
10.562 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2.977 |
5.040 |
25.562 |
|
|
|
|
|
|
Long-term borrowings |
2.177 |
41.085 |
18.919 |
|
Short term borrowings |
0.000 |
8.625 |
5.517 |
|
Total borrowings |
2.177 |
49.710 |
24.436 |
|
Debt/Equity ratio |
0.731 |
9.863 |
0.956 |
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 |
33.835 |
106.878 |
234.286 |
|
|
|
215.880 |
119.209 |
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 |
33.835 |
106.878 |
234.286 |
|
Profit |
0.270 |
2.063 |
8.122 |
|
|
0.80% |
1.93% |
3.47% |
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 |
-- |
|
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 |
No |
|
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 |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF OPERATIONS AND FUTURE OUTLOOK
During the year,
the company recorded a total income of INR 235.551 Million as compared to the
INR 109.473 Million in the previous financial year.
The main line of
business of the company is manufacturing of non renewable devices such as solar
panels, solar water pumping system, solar street lights, solar roof top system
and the like. At present the capacity of the company is 50 Megawatt. The
company has placed the orders for new machinery which will increase its capacity
to 100 Megawatts annually.
During the
financial year the company added one more milestone were company participated
in PGVCL and MGVCL tender and received project of tender worth above INR 15.000
Million and INR 80.000 Million the project got completed successfully within
the time limit during financial year, company also received solar street light
work from “World Bank Appointed Agencies” completed successfully within the
time limit during financial year, the company also manage to connect with GEDA
for grid connected systems during the year.
During the
financial year, the has purchased the freehold land to construct the new
factory premises sub plot D-4 and sub plot no 93 admeasuring 3449 Sq yard super
buildup area i.e. 2883.77 Sq Mt super buildup area under the name of gallops
industrial park-I bearing block no.745 paiki and block survey no.742 paiki
situated at mouje rajoda, taluka bavla, district Ahmedabad sub district bavla,
the land is purchased in well developed industrial estate with adequate
infrastructure facilities, during the year construction permission has been
obtained from concern authorities and 60% of construction had been completed.
Company planning to shift in new premises during last quarter of 2017-18.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Long-term
Borrowings |
|
|
|
Veracity Advisory Services Private Limited |
0.000 |
1.400 |
|
Veracity Energy and Infrastructure Private Limited |
10.246 |
25.444 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
From promoters |
|
|
|
Pramit Brahmbhatt HUF |
0.000 |
1.300 |
|
Pramit Brahmbhatt |
0.299 |
7.325 |
|
Varna Brahmbhatt |
0.200 |
0.000 |
|
Total |
10.745 |
35.469 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G46764007 |
100105178 |
SIDBI |
19/06/2017 |
- |
- |
38000000.0 |
First Floor, Navjivan Amrit Jayanti Bhavan, Navjivan Post Office, Post Box No. 10, Ahmedabad-382220, Gujarat, India |
|
2 |
C57566382 |
10577126 |
CORPORATION BANK |
02/06/2015 |
- |
- |
560000.0 |
Corporate House,1st Floor, Gandhinagar Sarkhejnational Highway, Judges Bunglow Road, Bodakdev, Ahmedabad-380054, Gujarat, India |
|
3 |
G18597450 |
10570844 |
CORPORATION BANK |
04/05/2015 |
30/09/2016 |
- |
77500000.0 |
Corporate House,1st Floor, Gandhinagar Sarkhejnational Highway, Judges Bunglow Road, Bodakdev, Ahmedabad-380054, Gujarat, India |
|
4 |
C55916381 |
10573863 |
CORPORATION BANK |
17/03/2015 |
- |
- |
23000000.0 |
Corporate House,1st Floor, Gandhinagar Sarkhejnational Highway, Judges Bunglow Road, Bodakdev, Ahmedabad-380054, Gujarat, India |
|
5 |
C50504059 |
10341234 |
ALLAHABAD BANK |
01/02/2012 |
- |
17/04/2015 |
5000000.0 |
Adatiya Awas Building, Bombay Market, Umarwada, Surat-395010, Gujarat, India |
CONTINGENT LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against the company not acknowledge as debt |
|
|
|
Income tax matters in respect of earlier year under dispute |
|
|
|
Pending in commissioner of Income Tax Appeal |
0.623 |
0.000 |
|
Export obligation |
5.053 |
5.286 |
|
Total |
5.676 |
5.286 |
FIXED ASSETS:
Tangible Asset:
- Plant and
Machinery
- Electrical
fittings
- Furniture and
Fixture
- Office
equipment
- Computer
- Air
conditioner
- Vehicles
- Mobile
Intangible Asset:
· Software
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 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
BHG |
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 |
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 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.