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|
|
MIRA INFORM REPORT
|
Report No. : |
500983 |
|
Report Date : |
31.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
TWINSTAR INDUSTRIES LIMITED (w.e.f. 31.07.2009) |
|
|
|
|
Formerly Known
As : |
TWINSTAR SOFTWARE EXPORTS LIMITED |
|
|
|
|
Registered
Office : |
Plot No.EL-178, TTC MIDC Industrial Area, Mahape, Navi Mumbai –
400701, Maharashtra |
|
Tel. No.: |
91-22-40394410 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
20.06.1994 |
|
|
|
|
Com. Reg. No.: |
11-079084 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 224.602 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L30007MH1994PLC079084 |
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|
|
|
IEC No.: |
0396051634 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT1529J |
|
|
|
|
TIN No.: |
27400261337 |
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|
|
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GST No.: |
27AAACT1529J1ZC |
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|
|
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
· Trading of Commodities and into Providing Information Technology and E- Governance Services and involved in Projects with Central Government and State Government. [Registered Activity] ·
Manufacturing and Trading of Non-Ferrous and
Ferrous Metal, Dyes and Chemicals, Pharmaceutical Bulk Drugs, Petrochemicals,
Structural Parts, Machinery Spare Parts and Auto Parts, Fabric, Yarn, designing
of software. Technical Projects: E-Governance contracts for Auto mission,
outsourcing contracts with TCS. [Confirmed by Management] |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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Comments : |
Subject was incorporated on 20th June 1994 as a limited company in Navi Mumbai Maharashtra and was promoted by Mr. Daulat S. Mehta and Mr. Kailash S. Mehta. The company was established to undertake development and export of software and provide IT enable services. However, the company is currently engaged in manufacturing and trading of non- ferrous and ferrous metal, dyes and chemicals, pharmaceutical bulk drugs, petrochemicals, structural parts, machinery spare parts and auto parts. For the financial year 2017, the company has increased its revenue from operations as compared to previous year and maintained minimal profit margin of 0.19%. However rating takes into consideration moderate financial risk profile of the company marked by low reserves level. Further rating remain constrained on account of susceptibility of the company’s operating margin of fluctuations in raw material prices marked by its presence in fragmented and highly competitive trading segment along with customer concentration risk in its revenue profile and low profitability. Share Price is also quoted low on stock exchange (Share Price of INR 2.23 with Face value of INR 10). However, rating weakness is partially offset by promoter’s extensive experience. Trade relations are reported as fair. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some cautions. |
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 |
BRICKWORKS |
|
Rating |
Long Term Rating = BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
05.01.2018 |
|
Rating Agency Name |
BRICKWORKS |
|
Rating |
Short Term Rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
05.01.2018 |
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 31.03.2018
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. Shivkumar Aasopa |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9594624247 |
|
Date : |
29.03.2018 |
LOCATIONS
|
Registered Office : |
Plot No.EL-178, TTC MIDC Industrial Area, Mahape, Navi Mumbai –
400701, Maharashtra, India |
|
Tel. No.: |
91-22-40394410/ 27631777 |
|
Mobile No.: |
91-9594624247 (Mr. Shivkumar Aasopa) |
|
Fax No.: |
91-22-40394429/ 27631777 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
4046 Sq. Ft. |
|
Location : |
Owned |
|
Locality: |
Industrial |
|
|
|
|
Factory - Godown: |
Gala No.4, Building No. B/ 1, in the Pashupati Complex Village Kalwar, Taluka Bhiwandi, District – Thane,
Maharashtra, India |
|
Area : |
3500 Sq. Ft. |
|
Location : |
Rented |
|
Locality: |
Commercial |
|
|
|
|
Branch Office 1
: |
1073, 12th Main, 4th Cross Raghavendra Block
Srinagar, Bangalore – 560050, Karnataka, India |
|
Area : |
450 Sq. Ft. |
|
Location : |
Rented |
|
Locality: |
Commercial |
|
|
|
|
Corporate/ Branch Office 2 : |
702, Acme Plaza, Andheri Kurla Road, Andheri (East),
Mumbai – 400059, Maharashtra, India |
|
Telefax : |
91-22-28263462 |
|
E-Mail : |
|
|
Area : |
1100 Sq. Ft. |
|
Location : |
Rented |
|
Locality: |
Commercial |
|
|
|
|
Lucknow Office: |
“Vaishaliarcade” Office No.103 on First Floor, 6, Park
Road, Lucknow, Uttar Pradesh, India |
|
|
|
|
Gujarat Office: |
Office No. 206, Shilp II Building Above HDFC Bank Limited, |
|
E-Mail : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Daulat Samirmal Mehta |
|
Designation : |
Managing Director |
|
Address : |
901, Himachal, Juhu Lane, Andheri (West), Mumbai – 400058,
Maharashtra,
India |
|
Date of Appointment : |
23.06.1994 |
|
DIN No.: |
01575366 |
|
|
|
|
Name : |
Mrs. Kala Daulat Mehta |
|
Designation : |
Director |
|
Address : |
901, Himachal, Juhu Lane, Andheri (West), Mumbai – 400058,
Maharashtra,
India |
|
Date of Birth/Age : |
22.01.1964 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
00308065 |
|
|
|
|
Name : |
Mr. Harsh Daulatmal Mehta |
|
Designation : |
Whole time Director |
|
Address : |
901, Himachal, Juhu Lane, Andheri (West), Mumbai – 400058,
Maharashtra,
India |
|
Date of Birth/Age : |
03.09.1987 |
|
Date of Appointment : |
18.12.2012 |
|
DIN No.: |
01719123 |
|
|
|
|
Name : |
Mr. Kailash Mehta |
|
Designation : |
Director |
|
Address : |
153, Mutho Ka Bas, Sojat Ward No.12 Th. Sojat, District:
Pali, Jodhpur – 306104, Rajasthan, India |
|
Date of Appointment : |
23.06.1994 |
|
DIN No.: |
01741399 |
KEY EXECUTIVES
|
Name : |
Mr. Shivkumar Aasopa |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.12.2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As
a % of (A+B+C2) |
|
|
(A) Promoter &
Promoter Group |
5525500 |
24.56 |
|
|
(B) Public |
16974500 |
75.44 |
|
|
Grand Total |
22500000 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated
as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
3623800 |
16.11 |
|
|
KALA D MEHTA |
1481800 |
6.59 |
|
|
DAULAT S MEHTA |
1161900 |
5.16 |
|
|
KAILASH S MEHTA |
980100 |
4.36 |
|
|
Any Other
(specify) |
1901700 |
8.45 |
|
|
TWINSTAR HOLDING
AND FINANCE LTD |
1900000 |
8.44 |
|
|
KAPILA CONSULTANTS
PVT LTD |
1700 |
0.01 |
|
|
Sub Total A1 |
5525500 |
24.56 |
|
|
A=A1+A2 |
5525500 |
24.56 |
Statement showing shareholding
pattern of the Public shareholder
|
Category & Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR, 1957
As a % of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
11300 |
0.05 |
|
|
Any Other
(specify) |
16800 |
0.07 |
|
|
Sub Total B1 |
28100 |
0.12 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0.00 |
||
|
Central
Government/ State Government(s)/ President of India |
39150 |
0.17 |
|
|
Sub Total B2 |
39150 |
0.17 |
|
|
B3)
Non-Institutions |
0.00 |
||
|
Individual share
capital up to INR 0.200 Million |
6213358 |
27.61 |
|
|
Individual share
capital in excess of INR 0.200 Million |
7693226 |
34.19 |
|
|
Any Other
(specify) |
3000666 |
13.34 |
|
|
Sub Total B3 |
16907250 |
75.14 |
|
|
B=B1+B2+B3 |
16974500 |
75.44 |
BUSINESS DETAILS
|
Line of Business : |
· Trading of Commodities and into Providing Information Technology and E- Governance Services and involved in Projects with Central Government and State Government. [Registered Activity] ·
Manufacturing and Trading of Non-Ferrous and
Ferrous Metal, Dyes and Chemicals, Pharmaceutical Bulk Drugs, Petrochemicals,
Structural Parts, Machinery Spare Parts and Auto Parts, Fabric, Yarn,
designing of software. Technical Projects: E-Governance contracts for Auto
mission, outsourcing contracts with TCS. [Confirmed by Management] |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
|
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Exports : |
Not Available |
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|
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Imports : |
Not Available |
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|
|
|
Terms : |
|
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Selling : |
Depend |
|
|
|
|
Purchasing : |
Depend |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users, OEM’s
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
N. K. Jalan and Company Chartered Accountants |
|
Address : |
2-A, Mayur Apartments, Dadabhi Cross Road No.3, Vile Parle (West),
Mumbai – 400056, Maharashtra, India |
|
Tel. No.: |
91-22-26210903/
26210904 |
|
Mobile No.: |
91-9324114104 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
|
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|
|
Enterprise Owned or
significantly influenced by Key Management Personnel: |
· Originet Technologies Limited · Boostmetric Solutions Limited (Formerly known as Boostmetric Solutions Private Limited) · Kala Exports · Rediant Comtrade Private Limited (Formerly known as Radiant Finvest Private Limited) · Twinstar Holding & Finance Limited · Earls General Trading Private Limited (Formerly known as Earls Jewels Private Limited) · Stuti Comtrade Private Limited (Formerly known as Stuti Finlease Private Limited) · Namita Stocktrade Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22500000 |
Equity Shares |
INR 10/- each |
INR 225.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22460236 |
Equity Shares |
INR 10/- each |
INR 224.602 Million |
|
|
|
|
|
Details
of shares held by each shareholder holding more than 5% shares:
|
Class
of shares / Name of shareholders |
As at 31 March, 2016 |
|
|
|
Number
of shares held |
% holding in that class of shares |
|
Kala
Mehta |
1481800 |
6.59 |
|
Daulat
S. Mehta |
1161900 |
5.16 |
|
Twinstar
Holding and Finance Limited |
1900000 |
8.44 |
|
Vintage
Finstock Private Limited |
3300000 |
14.67 |
The company has only one class
of shares referred to as equity shares having a par value of INR 10/- each.
Each holder of equity shares is entitled to one vote per share.
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 |
224.602 |
224.602 |
224.602 |
|
(b) Reserves & Surplus |
14.269 |
11.654 |
9.159 |
|
(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) |
238.871 |
236.256 |
233.761 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
27.720 |
4.696 |
1.631 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
18.500 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
27.720 |
4.696 |
20.131 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
92.246 |
91.236 |
55.503 |
|
(b)
Trade payables |
217.480 |
80.433 |
51.519 |
|
(c)
Other current liabilities |
18.848 |
6.610 |
58.328 |
|
(d)
Short-term provisions |
3.244 |
2.475 |
2.900 |
|
Total
Current Liabilities (4) |
331.818 |
180.754 |
168.250 |
|
|
|
|
|
|
TOTAL |
598.409 |
421.706 |
422.142 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
45.167 |
52.235 |
59.535 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
11.397 |
11.394 |
56.050 |
|
(c) Deferred tax assets
(net) |
1.123 |
1.776 |
2.294 |
|
(d) Long-term Loan
and Advances |
5.203 |
5.203 |
5.203 |
|
(e)
Other Non-current assets |
2.576 |
2.311 |
1.099 |
|
Total
Non-Current Assets |
65.466 |
72.919 |
124.181 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
5.892 |
4.762 |
4.762 |
|
(c)
Trade receivables |
344.003 |
211.962 |
144.885 |
|
(d)
Cash and cash equivalents |
5.085 |
27.272 |
38.062 |
|
(e)
Short-term loans and advances |
173.814 |
104.791 |
108.986 |
|
(f)
Other current assets |
4.149 |
0.000 |
1.266 |
|
Total
Current Assets |
532.943 |
348.787 |
297.961 |
|
|
|
|
|
|
TOTAL |
598.409 |
421.706 |
422.142 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations [Net] |
1373.423 |
1039.042 |
1001.774 |
|
|
|
Other Income |
12.845 |
0.624 |
0.489 |
|
|
|
TOTAL |
1386.268 |
1039.666 |
1002.263 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
1317.473 |
1004.233 |
975.132 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(1.130) |
0.000 |
(4.762) |
|
|
|
Employees benefits expense |
14.841 |
3.120 |
3.222 |
|
|
|
Other expenses |
26.381 |
6.911 |
2.594 |
|
|
|
TOTAL |
1357.565 |
1014.264 |
976.186 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
28.703 |
25.402 |
26.077 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
14.587 |
9.549 |
6.562 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
14.116 |
15.853 |
19.515 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.079 |
12.535 |
15.809 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
4.037 |
3.318 |
3.706 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.423 |
1.217 |
-2.076 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2.614 |
2.101 |
5.782 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
0.12 |
0.09 |
0.26 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
(27.891) |
(61.279) |
10.581 |
|
|
|
|
|
|
Net Cash Generated by Operating Activities |
(29.171) |
(61.440) |
10.369 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
91.42 |
74.46 |
52.79 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.99 |
4.90 |
6.91 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
60.25 |
29.23 |
19.28 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
4.87 |
5.33 |
5.48 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.64 |
0.49 |
0.44 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.60 |
0.44 |
0.40 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.50 |
0.41 |
0.24 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.39 |
0.77 |
0.72 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.19 |
0.22 |
0.25 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.97 |
2.66 |
3.97 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.19 |
0.20 |
0.58 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.44 |
0.50 |
1.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
1.09 |
0.89 |
2.47 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.61 |
1.93 |
1.77 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.59 |
1.90 |
1.74 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.40 |
0.56 |
0.55 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.53 |
0.43 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.61 |
1.93 |
1.77 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
|
|
|
Market Value |
INR 2.26/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
224.602 |
224.602 |
224.602 |
|
Reserves & Surplus |
9.159 |
11.654 |
14.269 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
233.761 |
236.256 |
238.871 |
|
|
|
|
|
|
long-term borrowings |
1.631 |
4.696 |
27.720 |
|
Short term borrowings |
55.503 |
91.236 |
92.246 |
|
Total
borrowings |
57.134 |
95.932 |
119.966 |
|
Debt/Equity
ratio |
0.244 |
0.406 |
0.502 |
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 |
1001.774 |
1039.042 |
1373.423 |
|
|
|
3.720 |
32.182 |
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 |
1001.774 |
1039.042 |
1373.423 |
|
Profit |
5.782 |
2.101 |
2.614 |
|
|
0.58% |
0.20% |
0.19% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G28027613 |
10434984 |
STATE BANK OF INDIA |
10/05/2013 |
03/11/2016 |
- |
140000000.0 |
COMMERCIAL BRANCH, 1ST FLOOR, LEKHRAJ BHAVAN,SAKI VIHAR ROAD, ANDHERI (EAST), SAKINAKA,MUMBAIMH400072IN |
|
2 |
B78748167 |
10333122 |
UNION BANK OF INDIA |
28/01/2012 |
- |
04/07/2013 |
5000000.0 |
ABDUL REHMAN STREET BRANCH,BHAGAT MANSION176/180,ABDUL REHMAN STREET,MUMBAIMH400003IN |
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF
YEAR ENDED 31.12.2017
(INR IN MILLION)
|
Particulars |
Six Months Ended 31.12.2017 |
Six Months Ended 30.09.2017 |
Nine Months Ended 31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
Income from operations |
|
|
|
|
Revenue from operations |
589.512 |
432.716 |
1480.057 |
|
Other Income |
0.000 |
0.040 |
0.040 |
|
Total Income |
589.512 |
432.756 |
1480.097 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Purchases of Stock-in-Trade |
579.531 |
421.515 |
1450.754 |
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.000 |
0.000 |
(6.188) |
|
Employee
benefits expense |
1.176 |
1.087 |
6.791 |
|
Finance
Costs |
3.281 |
3.865 |
10.018 |
|
Depreciation
and amortisation expense |
2.520 |
2.520 |
7.560 |
|
Other
expenditure |
1.062 |
1.568 |
3.954 |
|
Total Expenses |
587.570 |
430.555 |
1472.889 |
|
|
|
|
|
|
Profit before exceptional Items (3+4) |
1.942 |
2.700 |
7.200 |
|
Exceptional
Items |
-- |
-- |
-- |
|
Profit before tax (7-8) |
1.942 |
2.700 |
7.200 |
|
Tax
expense |
0.000 |
0.810 |
0.802 |
|
Profit/ (Loss) for the period from
continuing operations |
1.942 |
1.890 |
6.398 |
|
Profit/ (Loss) from discontinuing
operations |
-- |
-- |
-- |
|
Tax
expense of discontinuing
operations |
-- |
-- |
-- |
|
Profit/ (Loss) from discontinuing
operations after tax |
-- |
-- |
-- |
|
Profit/ loss for the period |
1.942 |
1.890 |
6.398 |
|
Other comprehensive income |
-- |
-- |
-- |
|
Item that will not be reclassified to profit or loss |
-- |
-- |
-- |
|
income tax relating to items that will not be reclassified to profit or loss |
-- |
-- |
-- |
|
Item that will be reclassified to profit or loss |
-- |
-- |
-- |
|
income tax relating to items that will be reclassified to profit or loss |
-- |
-- |
-- |
|
Total comprehensive income |
-- |
-- |
-- |
|
Paid - up Equity Share Capital (Face value of INR 10/- per share) |
-- |
-- |
-- |
|
Earnings Per Share (EPS) |
|
|
|
|
a) Basic and diluted EPS before exceptional
Items for the period (INR) |
0.09 |
0.08 |
0.28 |
|
b) Basic and diluted EPS after exceptional
Items for the period (INR) |
0.09 |
0.08 |
0.28 |
NOTES:
1. The above said results have been considered and taken on record by the board of directors at a meeting held on 14.02.2018.
2. The Company has adopted the Indian Accounting Standards (Ind AS) from 01st April, 2017 and these financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 ("Ind AS") prescribed under Section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India.
The format of unaudited quarterly results as prescribed by SEBI Circular dated
30th November, 2015 has been modified to comply with the requirements of SEBI
Circular dated 05th July, 2016. Ind AS and Schedule III to the Companies Act,
2013.
3. Figures of previous period / year have been regrouped/rearranged wherever necessary, in order to make them comparable.
SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
|
Particulars |
Six Months Ended 31.12.2017 |
Six Months Ended 30.09.2017 |
Nine Months Ended 31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
1] Segment Revenue |
|
|
|
|
Trading Division
|
575.192 |
389.480 |
139.961 |
|
IT Division |
14.320 |
43.2780 |
80.487 |
|
Total Sales Income from Operations |
539.512 |
432.758 |
1480.097 |
|
|
|
|
|
|
2] Segment Results |
|
|
|
|
Trading Division
|
6.855 |
4.130 |
16.008 |
|
IT Division |
0.888 |
4.456 |
8.778 |
|
Total |
7.743 |
8.586 |
24.786 |
|
Less: Interest
|
3.281 |
3.366 |
10.018 |
|
Exceptional
Items |
|
|
|
|
Add: Other Un-Allocable Expenditure Net
off (Depreciation) |
2.520 |
2.520 |
7.560 |
|
Unallocated Income |
-- |
-- |
-- |
|
Profit Before Tax |
1.942 |
2.700 |
7.208 |
|
|
|
|
|
|
3] Capital Employed |
|
|
|
|
Trading Division
|
42.500 |
21.010 |
42.535 |
|
IT Division |
311.200 |
134.065 |
311.125 |
|
Total |
353.700 |
155.075 |
353.700 |
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT:
INDUSTRY STRUCTURE
AND DEVELOPMENT:
With the IT expertise the company also focuses in various
other fields of trade, commerce, commodity trades. The company is also very keen
to work with the government of India on various other IT projects. With the
“Make in India” initiative the company is very keen in working with various top
players in the country on various projects which are well under its scope of
Interest and expertise.
OUTLOOK:
Due to the presence of the Company in various industries and
the willingness of the Board of Directors of the Company to keep on exploring
various opportunities the future of the Company is promising and growth
centered.
FIXED ASSETS:
·
Land
·
Buildings
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
·
Diesel Generating Set
·
U.P.S. System
·
Air Conditioner
· Electrical Installation
· Finger Print Scanner
· Computer & Hardware
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.04 |
|
UK Pound |
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
RUP |
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 |
YES |
|
--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.