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MIRA INFORM REPORT
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Report No. : |
501340 |
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Report Date : |
30.03.2018 |
IDENTIFICATION DETAILS
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Name : |
SHRIVALLABH PITTIE INDUSTRIES LIMITED (w.e.f. 29.01.2014) |
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Formerly Known
As : |
SHRIVALLABH
PITTIE INDUSTRIES PRIVATE LIMITED (w.e.f. 10.07.2013) ALAKNANDA
INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
97 and 99, 9th Floor, Maker Tower 'F', Cuffe Parade, Mumbai
– 400005, Maharashtra |
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Tel. No.: |
91-22-40290011 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
31.08.2012 |
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Com. Reg. No.: |
11-235201 |
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Capital
Investment / Paid-up Capital : |
INR 50.411 Million |
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CIN No.: [Company Identification
No.] |
U26960MH2012PLC235201 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
08AAKCA8820H1ZI |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAKCA8820H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 5000000 |
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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 2012 and it is having satisfactory track records. For the financial year 2017, the company has achieved healthy revenue from its revenue from operations and reported average profit margin of 3.85%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and average debt balance sheet. Further, rating also reflects company’s experience of the promoters and group’s established presence in the spinning sector through its flagship entity Platinum Textiles Limited and healthy revenue as well as profitability during the year. However, rating strength is partially offset by susceptibility to cotton prices and the fragmented nature of the industry. Trade relations are fair. Business is active. Payments are reported to be usually correct. In view of the 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 |
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Risk Category |
ECGC
Classification |
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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
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Rating Agency Name |
CARE |
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Rating |
Long Term Rating – BBB- |
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Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
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Date |
28.08.2017 |
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 DENIED
Management Non-Cooperative (Tel No.: 91-22-40290011)
LOCATIONS
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Registered Office : |
97 and 99, 9th Floor, Maker Tower 'F', Cuffe Parade, Mumbai
– 400005, Maharashtra, India |
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Tel. No.: |
91-22-4029 0011 |
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Fax No.: |
91-22-4029 0033 |
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E-Mail : |
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Website |
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Factory : |
SP-4, Dhanodi RIICO Industrial Area, Chandeawati Growth Centre, Jhalrapatan, Jhalawar – 326023, Rajasthan, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Chirag Vinod Kumar Pittie |
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Designation : |
Director |
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Address : |
97, Maker Tower, F,' Cuffe Parade, Mumbai – 400005, Maharashtra, India |
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Date of Birth/Age : |
18.05.1982 |
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Qualification : |
Graduate |
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Date of Appointment : |
25.04.2013 |
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DIN No.: |
00117368 |
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Other Directorship:
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Name : |
Mr. Praveen Sammul Shelly |
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Designation : |
Director |
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Address : |
37, Central School Scheme, Jodhpur – 342002, Rajasthan, India |
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Date of Birth/Age : |
08.12.1947 |
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Qualification : |
Certified Administrator from Michigan, United States of America |
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Date of Appointment : |
25.05.2013 |
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DIN No.: |
01922237 |
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Other Directorship:
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Name : |
Mr. Prakash Lavji Vaghela |
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Designation : |
Additional Director |
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Address : |
103,Mayuri Heights, Natvar Nagar, Road No.2,Near Surajba
School, Jogeshwari (East) Mumbai – 400060, Maharashtra, India |
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Date of Appointment : |
16.10.2017 |
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DIN No.: |
07768595 |
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Other Directorship:
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Name : |
Ms. Palak Kanaiyalal Bhavsar |
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Designation : |
Director |
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Address : |
Flat-1001, Floor-10,Wing-B, Riviera CHS, Thane (West), Siddeshwar Garden, Village Dhokali, Kolsh ET Road, Thane – 400607, Maharashtra, India |
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Date of Birth/Age : |
30.08.1992 |
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Qualification : |
B.Com, CS |
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Date of Appointment : |
19.08.2016 |
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DIN No.: |
07425056 |
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Other Directorship:
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Chirag V Pittie |
5000 |
|
Citron Infraprojects Limited |
3121873 |
|
Helios Exports Limited |
10 |
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Shrivallabh Pittie Infraprojects Private Limited |
10 |
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Shrivallabh Pittie Mercantile Private Limited |
10 |
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Helios Mercantlie Limited |
10 |
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Platinum Textiles Limited |
1914177 |
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Total |
5041090 |
AS ON 29.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
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Promoters – [Individual/Hindu Undivided Family – Indian] |
0.10 |
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Promoters – [Bodies corporate] |
99.90 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers (31.03.2016) : |
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Facilities : |
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Auditors : |
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Name : |
Motilal and Associates Chartered Accountants |
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Address : |
304, Orchid Plaza, Behind Gokul Shopping Center, Next To Platform No 8, Off S. V. Road, Borivali (West), Mumbai – 400092, Maharashtra, India |
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PAN No.: |
AAYFM9971D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other related parties : |
S V P Global Ventures Limited |
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Holding Company : |
Citron Infraprojects Limited [CIN No. U45201MH2008PLC177616] |
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Associates Companies: |
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CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
INR 10/- each |
INR 55.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
5041090 |
Equity Shares |
INR 10/- each |
INR 50.411 Million |
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FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
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|
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
50.411 |
32.567 |
0.500 |
|
(b) Reserves & Surplus |
1733.030 |
972.052 |
0.016 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1783.441 |
1004.619 |
0.516 |
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(3) Non-Current Liabilities |
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|
|
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(a) long-term borrowings |
2809.832 |
711.605 |
25.231 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
14.988 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.008 |
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Total
Non-current Liabilities (3) |
2809.832 |
711.605 |
40.227 |
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(4) Current Liabilities |
|
|
|
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(a) Short term borrowings |
636.257 |
0.000 |
0.000 |
|
(b) Trade payables |
146.570 |
0.000 |
0.000 |
|
(c) Other current liabilities |
365.928 |
84.090 |
0.000 |
|
(d) Short-term provisions |
49.612 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
1198.367 |
84.090 |
0.000 |
|
|
|
|
|
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TOTAL |
5791.640 |
1800.314 |
40.743 |
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3769.091 |
0.000 |
0.000 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
595.847 |
30.595 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.004 |
0.004 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
24.295 |
0.000 |
7.730 |
|
(e) Other Non-current assets |
61.833 |
56.047 |
2.213 |
|
Total
Non-Current Assets |
3855.223 |
651.898 |
40.538 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.004 |
|
(b) Inventories |
336.755 |
0.000 |
0.000 |
|
(c) Trade receivables |
1052.904 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
37.687 |
33.400 |
0.000 |
|
(e) Short-term loans and
advances |
206.391 |
1098.590 |
0.201 |
|
(f) Other current assets |
302.680 |
16.426 |
0.000 |
|
Total
Current Assets |
1936.417 |
1148.416 |
0.205 |
|
|
|
|
|
|
TOTAL |
5791.640 |
1800.314 |
40.743 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
2151.870 |
0.000 |
0.000 |
|
|
Other Income |
166.359 |
0.000 |
0.088 |
|
|
TOTAL |
2318.229 |
0.000 |
0.088 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1652.894 |
0.000 |
0.000 |
|
|
Employees benefits
expense |
33.313 |
0.000 |
0.000 |
|
|
Other expenses |
48.065 |
0.000 |
0.074 |
|
|
TOTAL |
1734.272 |
0.000 |
0.074 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
583.957 |
0.000 |
0.014 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
222.903 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
361.054 |
0.000 |
0.014 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
|
278.132 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
82.922 |
0.000 |
0.014 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.003 |
0.004 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
82.922 |
(0.003) |
0.010 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
0.013 |
0.016 |
0.006 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
82.935 |
0.013 |
0.016 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
663.805 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
16.45 |
0.05 |
0.20 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
267.400 |
0.000 |
0.000 |
|
Cash generated from operations |
55.361 |
(1045.919) |
NA |
|
Net cash flow from operating activities |
55.361 |
(1045.919) |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
178.59 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
2.04 |
0.00 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.73 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.15 |
0.00 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.74 |
0.44 |
0.62 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.08 |
0.71 |
48.90 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
0.67 |
0.08 |
0.00 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
2.11 |
0.59 |
59.29 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.62 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
3.85 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.43 |
0.00 |
0.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
4.65 |
0.00 |
1.94 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.62 |
13.66 |
0.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.33 |
13.66 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.31 |
0.56 |
0.01 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
73.66 |
21.85 |
50.46 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.62 |
13.66 |
0.00 |
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 |
0.500 |
32.567 |
50.411 |
|
Reserves & Surplus |
0.016 |
972.052 |
1733.030 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
0.516 |
1004.619 |
1783.441 |
|
|
|
|
|
|
Long Term borrowings |
25.231 |
711.605 |
2809.832 |
|
Short Term borrowings |
0.000 |
0.000 |
636.257 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
267.400 |
|
Total
borrowings |
25.231 |
711.605 |
3713.489 |
|
Debt/Equity
ratio |
48.897 |
0.708 |
2.082 |
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 |
CORPORATE INFORMATION
The Company is a Public Company domiciled in India and incorporated
under the provision of the Companies Act, 1956. The Company is engaged in a
business of Manufacturing and Trading of Textiles Goods Business etc.
UNSECURED LOANS:
|
Unsecured Loan |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Other loans and advances |
2470.727 |
107.499 |
|
|
|
|
|
Total |
2470.727 |
107.499 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Amount |
Address |
|
1 |
G31955933 |
10604401 |
State Bank of India |
12/10/2015 |
17/12/2016 |
3550000000.0 |
State Bank Bhavan , Madame Cama Road, Nariman Point, Mumbai – 400005, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Bank Guarantee to DGFT |
92.241 |
0.000 |
|
|
|
|
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Computer
·
Vehicles
·
Office Equipment
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 65.06 |
|
|
1 |
INR 92.06 |
|
Euro |
1 |
INR 80.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PUJ |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
RKI |
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.