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|
MIRA INFORM REPORT
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Report No. : |
511916 |
|
Report Date : |
31.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
PREMIER POLYFILM LIMITED |
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|
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Registered
Office : |
Flat No. 305, IIIrd Floor, Elite House 36, Community Centre, Kailash
Colony Extension, Zamroodpur, New Delhi – 110048 |
|
Tel. No.: |
91-120-3364500 |
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|
|
|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
17.07.1992 |
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Com. Reg. No.: |
55-049590 |
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Capital
Investment / Paid-up Capital : |
INR 105.901 Million |
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CIN No.: [Company Identification
No.] |
L25209DL1992PLC049590 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTIN : [Goods & Service Tax Registration No.] |
Not Divulged |
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TIN No : |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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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
: |
Subject is engaged in manufacturing
and sale of PVC Film and Sheets. (Registered Activity) |
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No. of Employees
: |
282 (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 |
|
Maximum Credit Limit : |
USD 981000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Exists |
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Comments : |
Subject was incorporated in the year 1992 and it is engaged in manufacturing of PVC Flooring, Sheeting, Film, Soft Touch Cushion Type Artificial PVC Leather Cloth and Knitted Fabric. As per financials of March 2017, the company has registered growth of 9.16% in its revenue as compared with the previous year’s revenue and has reported average profit margin of 3.17%. Rating takes into consideration the company’s established track record of business operations marked by sound net worth along with strong debt coverage indicators and decent liquidity position. Rating also takes into account the established position with diverse product mix and multiple end-user segments. Share are quoted fairly high on Stock Exchanges. (Shares are traded at a price of INR 37.75 against its face value of INR 5.) However, rating strength is partially offset by vulnerability of the operating margin to raw material price fluctuations, and exposure to intense industry competition. As per unaudited quarterly financials of December 2017, the company has achieved a revenue of INR 378 million and has reported average profit margin of 3.81%. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES : Any query related to this
report can be made on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
30.11.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
30.11.2017 |
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
31-03-2018.
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 31.05.2018
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 DECLINED
Management non-cooperative (Tel No.: 91-120-3364500)
LOCATIONS
|
Registered Address : |
Flat No. 305, IIIrd Floor, Elite House 36, Community Centre, Kailash
Colony Extension, Zamroodpur, New Delhi – 110048, India |
|
Tel. No.: |
91-11-29246481 |
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Fax No.: |
91-11-29246481 |
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E-Mail : |
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Website : |
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Head Office and
Factory (Unit I) : |
40/1A, Site IV, Sahibabad Industrial Area, Sahibabad,
Ghaziabad – 201010, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2896982/ 3364500 |
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Fax No.: |
91-120-2896982 |
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|
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Unit II : |
A-13, Sikandrabad Industrial Area, Sikandrabad, District - Bulandshahr, Sikandarabad, Uttar Pradesh, India |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Amar Nath Goenka |
|
Designation : |
Managing Director |
|
Address : |
Vrindavan Farm, 1-Green Avenue, D 3 Vasant Kunj
Vasant Kunj S.O, South West Delhi – 110070, India |
|
Date of Birth/Age : |
75 Years |
|
Qualification : |
Graduate |
|
Experience : |
55 Years |
|
Date of Appointment : |
17.07.1992 |
|
DIN No.: |
00061051 |
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|
|
|
Name : |
Mr. Amitaabh Goenka |
|
Designation : |
Whole-time Director |
|
Address : |
Vrindavan Farm, Sec-D-3, Vasant Kunj, New
Delhi – 110070, India |
|
Date of Birth/Age : |
46 Years |
|
Qualification : |
Graduate |
|
Experience : |
24 Years of experience in Industry and trade |
|
Date of Appointment : |
27.01.2010 |
|
DIN No.: |
00061027 |
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|
|
|
Name : |
Mr. Sumat Parsad Jain |
|
Designation : |
Whole-time Director |
|
Address : |
1/3473, Ram Nagar Extension Mandoli Road,
Shahdara, Delhi – 110032, India |
|
Date of Appointment : |
26.06.2004 |
|
DIN No.: |
00069268 |
|
|
|
|
Name : |
Mr. Jaspal Singh Marwah |
|
Designation : |
Director |
|
Address : |
H-36 Green Park Extension, New Delhi –
110016, India |
|
Date of Appointment : |
02.09.1999 |
|
DIN No.: |
00069325 |
|
|
|
|
Name : |
Mr. Kamlesh Kumar Sinha |
|
Designation : |
Director |
|
Address : |
F-251,W-5 Lane Western Avenue, Sainik Farm,
New Delhi – 110062, India |
|
Date of Appointment : |
19.08.2003 |
|
DIN No.: |
00155541 |
|
|
|
|
Name : |
Mr. Manoj Kumar Gupta |
|
Designation : |
Director |
|
Address : |
FD-2, FF Shivaji Enclave, New Delhi –
110027, India |
|
Date of Appointment : |
30.03.2001 |
|
DIN No.: |
00160009 |
|
|
|
|
Name : |
MS. Rashmee Singhania |
|
Designation : |
Director |
|
Address : |
A-192,New Friends Colony, Bharat Nagar,
Sriniwaspuri Delhi – 110065, India |
|
Date of Appointment : |
13.02.2015 |
|
DIN No.: |
06969599 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Kumar Bhandari |
|
Designation : |
Company Secretary |
|
Address : |
106/1B, Kishangarh, New Delhi – 110070,
India |
|
Date of Appointment : |
02.08.1999 |
|
PAN No.: |
ACIPN5410D |
MAJOR SHAREHOLDERS
As on 31.03.2018
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter & Promoter Group |
10015148 |
47.81 |
|
|
(B) Public |
10933347 |
52.19 |
|
|
Grand Total |
20948495 |
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 |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
4587511 |
21.90 |
|
|
Amar Nath Goenka |
573025 |
2.74 |
|
|
Amitaabh Goenka |
2451575 |
11.70 |
|
|
Arvind Goenka |
10000 |
0.05 |
|
|
Indira Goenka |
1018582 |
4.86 |
|
|
Amar Nath Goenka (Huf) |
534329 |
2.55 |
|
|
Any Other (specify) |
5427637 |
25.91 |
|
|
D L Millar & Company Limited |
2757762 |
13.16 |
|
|
Premier Polyplast & Processors Limited |
2669875 |
12.74 |
|
|
Sub Total A1 |
10015148 |
47.81 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
10015148 |
47.81 |
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 |
|
|
B1) Institutions |
0.00 |
||
|
Financial Institutions/ Banks |
298775 |
1.43 |
|
|
Sub Total B1 |
298775 |
1.43 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
1698998 |
8.11 |
|
|
Individual share capital in excess of INR 0.200 Million |
283518 |
1.35 |
|
|
Any Other (specify) |
8652056 |
41.30 |
|
|
Sanghai Holdings Private Limited |
3000000 |
14.32 |
|
|
Bodies Corporate |
8429585 |
40.24 |
|
|
Clearing Members |
1039 |
0.00 |
|
|
Foreign Portfolio Investor (Category - III) |
102708 |
0.49 |
|
|
HUF |
118724 |
0.57 |
|
|
Sub Total B3 |
10634572 |
50.77 |
|
|
B=B1+B2+B3 |
10933347 |
52.19 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and
sale of PVC Film and Sheets.
(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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
282 (Approximately) |
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Bankers : |
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Facilities : |
NOTE:
LONG TERM BORROWINGS Term Loan from Kotak Mahindra Bank Limited is secured by equitable mortgage of immovable properties and first Charge on all present and future current assets of the company along with fixed assets. The Loan is also secured by personal guarantees of Shri Amar Nath Goenka, Mrs. Indira Goenka and Shri Amitaabh Goenka. Repayable in equated monthly instalments upto 5 year period from the month following the end of moratorium period of 12 months .This is payable by 2020-21 and carries a rate of interest @ MCRL + 2.25%.Current rate of interest @11.30 p.a. The Company has taken vehicle loan from HDFC Bank Ltd. which is secured by way of hypothecation of the vehicle. Repayable in equated monthly instalments upto 5 year period, payable by 2021-22 and carries a current rate of interest @ 9.60% p.a. SHORT TERM
BORROWINGS Cash credit facility from Kotak Mahindra Bank Limited is
secured by equitable mortgage of immovable properties and first charge on all
present and future current assets of the Company alongwith fixed assets. The
Cash Credit Facility are also secured by personal Guarantees of Shri Amar
Nath Goenka, Smt. Indira Goenka and Shri Amitaabh Goenka. |
|
Auditors : |
|
|
Name : |
De and Bose Chartered Accountants |
|
Address : |
8/2, Kiran Sankar Roy Road, 2nd Floor, Room No. 1 and 18,
Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-22485039 |
|
Fax No.: |
91-33-22434864 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 5/- each |
INR 150.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21415000 |
Equity Shares |
INR 5/- each |
INR 107.075
Million |
|
|
|
|
|
Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21411820 |
Equity Shares |
INR 5/- each |
INR 107.059
Million |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20948495 |
Equity Shares |
INR 5/- each |
INR 104.743
Million |
|
|
Forfeited Shares |
|
INR 1.158
Million |
|
|
Total |
|
INR 105.901 Million |
a) Shareholders
holding more than 5% of the equity shares in the Company
|
Name of The
Shareholder |
31.03.2017 |
|
|
No. of shares |
% of holdings |
|
|
D.L. Millar & Company Limited |
2757762 |
13.16 |
|
Premier Polyplast and Processors Limited |
2669875 |
12.75 |
|
Sri Vishvanath Enterprises Limited |
4173140 |
19.92 |
|
Amitaabh Goenka |
2451575 |
11.70 |
|
Sanghai Holding (P) Limited |
3000000 |
14.32 |
b) Rights,
preferences and restrictions attached to the Equity Shares
The Equity Shares of the Company, having par value of INR 5.00 per share, rank pari-passu in all respects including voting rights and entitlement to dividend.
In the event of liquidation of the Company, the holders of
equity shares will be entitled to receive the remaining assets of the Company,
after distribution of preferential amounts. The distribution will be in
proportion to the number of equity shares held by the share holders
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 |
105.901 |
105.901 |
105.901 |
|
(b) Reserves & Surplus |
237.750 |
213.333 |
170.418 |
|
(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 |
343.651 |
319.234 |
276.319 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
58.684 |
82.715 |
78.122 |
|
(b) Deferred tax liabilities (Net) |
9.342 |
6.785 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
24.366 |
20.396 |
17.367 |
|
Total Non-current
Liabilities |
92.392 |
109.896 |
95.489 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
150.751 |
57.033 |
53.919 |
|
(b) Trade
payables |
127.658 |
96.907 |
72.079 |
|
(c) Other
current liabilities |
92.963 |
75.369 |
58.777 |
|
(d) Short-term
provisions |
3.757 |
3.301 |
10.578 |
|
Total Current
Liabilities |
375.129 |
232.610 |
195.353 |
|
|
|
|
|
|
TOTAL |
811.172 |
661.740 |
567.161 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
287.070 |
216.178 |
135.271 |
|
(ii)
Intangible Assets |
0.471 |
0.611 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
71.308 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.960 |
5.570 |
0.225 |
|
(c) Deferred tax assets (net) |
9.762 |
8.261 |
0.285 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
16.622 |
|
(e) Other
Non-current assets |
7.982 |
7.354 |
0.050 |
|
Total Non-Current
Assets |
310.245 |
237.974 |
223.761 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
189.029 |
142.372 |
100.118 |
|
(c) Trade
receivables |
191.757 |
152.017 |
157.502 |
|
(d) Cash
and cash equivalents |
91.191 |
99.465 |
61.618 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
20.075 |
|
(f) Other current
assets |
28.950 |
29.912 |
4.087 |
|
Total
Current Assets |
500.927 |
423.766 |
343.400 |
|
|
|
|
|
|
TOTAL |
811.172 |
661.740 |
567.161 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1136.369 |
1040.984 |
845.82 |
|
|
Other Income |
15.992 |
16.707 |
12.419 |
|
|
TOTAL
|
1152.361 |
1057.691 |
858.239 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
664.849 |
635.410 |
572.346 |
|
|
Purchases of Stock-in-Trade |
4.582 |
0.399 |
1.028 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(13.735) |
(16.261) |
8.480 |
|
|
Employees benefits expense |
111.188 |
85.187 |
63.240 |
|
|
Manufacturing Expenses |
124.231 |
116.044 |
98.104 |
|
|
Administrative and Other Expenses |
33.815 |
29.704 |
29.096 |
|
|
Selling and Distribution Expenses |
24.971 |
20.400 |
21.605 |
|
|
Excise Duty |
98.928 |
85.680 |
0.000 |
|
|
TOTAL |
1048.829 |
956.563 |
793.899 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
103.532 |
101.128 |
64.340 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
25.179 |
19.582 |
8.175 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
78.353 |
81.546 |
56.165 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
21.882 |
26.704 |
14.894 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
56.471 |
54.842 |
41.271 |
|
|
|
|
|
|
|
Less |
TAX |
20.414 |
18.274 |
13.982 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
36.057 |
36.568 |
27.289 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
247.400 |
277.700 |
264.405 |
|
|
TOTAL
EARNINGS |
247.400 |
277.700 |
264.405 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
157.174 |
|
|
Raw Material-in-Transit |
0.000 |
0.000 |
11.367 |
|
|
Packing Material |
0.000 |
0.000 |
1.883 |
|
|
Capital Goods |
0.000 |
0.000 |
8.152 |
|
|
TOTAL
IMPORTS |
0.000 |
0.000 |
178.576 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
1.72 |
1.75 |
1.30 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
23.724 |
24.500 |
16.600 |
|
Cash generated from operations |
68.641 |
78.828 |
22.043 |
|
Net cash flows from (used in) operations |
42.451 |
60.565 |
11.070 |
QUARTERLY
RESULTS
|
Particulars |
(Unaudited) Quarter Ended
30.06.2017 |
(Unaudited) Quarter Ended
30.09.2017 |
(Unaudited) Quarter Ended
31.12.2017 |
|
|
|
|
|
|
Net Sales |
324.600 |
360.500 |
378.000 |
|
Total Expenditure |
296.000 |
328.400 |
343.500 |
|
PBIDT (Excl OI) |
28.600 |
32.100 |
34.500 |
|
Other Income |
NA |
NA |
NA |
|
Operating Profit |
28.600 |
32.100 |
34.500 |
|
Interest |
6.700 |
6.600 |
7.600 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
21.900 |
25.500 |
26.900 |
|
Depreciation |
7.100 |
7.400 |
7.600 |
|
Profit Before Tax |
14.800 |
18.100 |
19.300 |
|
Tax |
5.000 |
5.000 |
4.900 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
9.800 |
13.100 |
14.400 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
9.800 |
13.100 |
14.400 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
61.59 |
53.30 |
67.97 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.93 |
6.85 |
5.37 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
69.60 |
55.63 |
45.88 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.55 |
0.71 |
0.64 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.36 |
0.47 |
0.31 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.56 |
0.51 |
0.51 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.68 |
0.51 |
0.54 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.09 |
0.73 |
0.71 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.84 |
0.68 |
0.75 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.11 |
5.16 |
7.87 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
3.17 |
3.51 |
3.23 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.45 |
5.53 |
4.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
10.49 |
11.45 |
9.88 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.34 |
1.82 |
1.76 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.83 |
1.21 |
1.25 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.42 |
0.48 |
0.49 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.20 |
1.55 |
1.40 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.34 |
1.82 |
1.76 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 05.00/- |
|
Market Value |
INR 37.75/- |
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 |
105.901 |
105.901 |
105.901 |
|
Reserves & Surplus |
170.418 |
213.333 |
237.750 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
276.319 |
319.234 |
343.651 |
|
|
|
|
|
|
long-term borrowings |
78.122 |
82.715 |
58.684 |
|
Short term borrowings |
53.919 |
57.033 |
150.751 |
|
Current maturities of
long-term debts |
16.600 |
24.500 |
23.724 |
|
Total
borrowings |
148.641 |
164.248 |
233.159 |
|
Debt/Equity
ratio |
0.538 |
0.515 |
0.678 |
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 |
845.820 |
1040.984 |
1136.369 |
|
|
|
23.074 |
9.163 |
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 |
845.820 |
1040.984 |
1136.369 |
|
Profit |
27.289 |
36.568 |
36.057 |
|
|
3.23% |
3.51% |
3.17% |
LEGAL CASES
HIGH COURT
|
PRINCIPAL COMMISSIONER OF INCOME TAX 7 Vs. MS PREMIER POLYFILM LTD. |
|
high court-Delhi |
|
Case no:ITA 1092/2017 |
|
Case status:Pending |
|
Judge:HON BLE MR. JUSTICE S.RAVINDRA BHAT HON BLE MR. JUSTICE SANJEEV SACHDEVA |
|
Date:2017-12-01 |
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 |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
No |
|
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 |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The company has been incorporated on 17th July,1992 under
the Companies Act,1956. The Company is mainly engaged in manufacturing and sale
of PVC films and sheets.
COMPANY’S PERFORMANCE
AND FUTURE PROSPECTS
The company produced 15829 M.T. of PVC flooring, Sheetings,
Films etc. as against 13,903 M.T. produced during the previous year, achieving
a capacity utilization of 76.47 % as compared to around 67.16 % in the previous
year. The Company could achieve higher capacity utilization but for depressed
demand for products and due to current recession could not achieve the same.
Sales and Income during the year was INR 1152.400 Million against INR 1057.700
Million. Profit before tax during 2016-2017 was INR 56.500 Million against INR
54.800 Million during the year 2015-2016. However, net profit of the company
after tax was for INR 35.300 Million against INR 36.100 Million during last
year. Despite facing tough competition from imported finished goods, the
products of your company are well received in the market and the market will
not be a constraint after present recession is over. M/s Kotak Mahindra Bank
Limited sanctioned and disbursed Working Capital facilities and Term Loan.
Despite facing tough competition from imported finished goods and excess
capacity in domestic market. Your Company was able to increase turnover.
Barring unforeseen circumstances, the unit will start generating additional
profits for the company in the current financial year.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
INDUSTRY
The company is engaged in the manufacture of vinyl flooring, sheeting and artificial leather cloth. The products of the company are used for a variety of industrial and consumer applications. Overall growth rate of the market size is more than 10% annually. Encouraged by the results the Company has already established another factory at its industrial plot at Sikandrabad Industrial Area, Sikandrabad, District Bulandshahr (UP) to manufacture 4500 M.T. per annum of Soft Touch Cushion type of Artificial PVC Leather cloth, PVC Sheetings and Films, Knitted Fabric etc at this unit annually. This unit will generate additional profits for the company.
The image of the company, built though quality products is
the major strength of the company. The company has a significant share of the
vinyl flooring, sheeting and artificial leather cloth market and is the quality
leader in the vinyl flooring market.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
SHORT TERM BORROWING |
|
|
|
Loans from other parties |
74.319 |
36.025 |
|
Total |
74.319 |
36.025 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G76708833 |
10353705 |
KOTAK MAHINDRA BANK LIMITED |
28/04/2012 |
14/02/2018 |
- |
328000000.0 |
27 BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI-400051, MAHARASHTRA, INDIA |
|
2 |
Y10136660 |
90056565 |
THE PRADESHIYA INDUSTRIAL & INVESTMENT CORP. OF U.P. LTD. |
25/04/1996 |
- |
- |
10500000.0 |
PICUP BHAWANGOMTI NAGAR, LUCKNOW, UTTAR PRADESH, INDIA |
|
3 |
B40368367 |
10260898 |
DELHI NAGRIK SEHKARI BANK LIMITED |
27/12/2010 |
- |
15/05/2012 |
32000000.0 |
219, RAMA MARKET, PITAMPURA, NEW DELHI-110034, INIDA |
|
4 |
A48035109 |
90056307 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
29/12/1992 |
01/02/1995 |
27/09/2008 |
38300000.0 |
IDBI TOWER, CUFFE PARADE; COLABA, BOMBAY-400001, INDIA |
|
5 |
A48035174 |
90056445 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
05/01/1995 |
25/01/1996 |
27/09/2008 |
44000000.0 |
IDBI TOWER, CUFFE PARADE; COLABA, BOMBAY-400001, INDIA |
|
6 |
A48035091 |
80033703 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
25/01/1996 |
09/02/1996 |
27/09/2008 |
13600000.0 |
1 RCS BUILDING1, RED CROSS ROADNEW DELHIDL110001IN |
|
7 |
A48035133 |
90056432 |
I.D.B.I. |
02/12/1994 |
01/02/1995 |
27/09/2008 |
20600000.0 |
IDBI TOWER, CUFFE PARADE; COLABA, BOMBAY-400001, INDIA |
|
8 |
A41697509 |
90056847 |
UTI BANK |
19/03/1998 |
- |
04/07/2008 |
50000.0 |
18 BARAKHAMBA ROAD, NEW DELHI-110001, INIDA |
|
9 |
A41697111 |
80033704 |
U.T.I. Bank Ltd. |
01/01/1996 |
22/12/1997 |
04/07/2008 |
70500000.0 |
18 BARAKHAMBA ROAD, NEW DELHI-110001, INIDA |
|
10 |
A37311859 |
90056716 |
ORIENTAL BANK OF COMMERCE |
13/06/1997 |
- |
06/05/2008 |
34500000.0 |
INDUSTRIAL FINANCE BRANCHCONNAUGHT PLACE, NEW DELHI, INDIA |
CONTINGENT
LIABILITIES:
(INR
in Million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Unredeemed Bank Guarantees |
3.239 |
5.993 |
|
Entry Tax Demand for the year 2004-05 |
1.558 |
1.558 |
STANDALONE UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2017
|
PARTICULARS |
Quarter
ended |
Nine
Months |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1. Income from Operations |
|
|
|
|
Net Sales/income from
operations |
375.400 |
357.100 |
1051.900 |
|
Other Operating Income |
2.600 |
3.400 |
11.200 |
|
Total income from operations (net) |
378.000 |
360.500 |
1063.100 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
201.600 |
193.900 |
603.600 |
|
Purchases of stock-in trade |
0.300 |
0.100 |
1.500 |
|
Changes in inventories of finished goods. work-in-progress
and stock in trade |
6.200 |
14.300 |
(7.000) |
|
Employee benefits expense |
36.000 |
33.400 |
101.700 |
|
Depreciation and Amortization Expenses |
7.600 |
7.400 |
22.100 |
|
Other Expenses |
54.200 |
47.500 |
151.000 |
|
Finance Costs |
7.600 |
6.600 |
20.900 |
|
Excise Duty |
45.200 |
39.200 |
117.100 |
|
Total expenses |
358.700 |
342.400 |
1010.900 |
|
Profit/ (Loss) before exceptional items |
19.300 |
18.100 |
52.200 |
|
Exceptional items |
-- |
-- |
-- |
|
Profit/ (Loss) before tax |
19.300 |
18.100 |
52.200 |
|
Tax expenses |
4.900 |
5.000 |
14.900 |
|
Net Profit / (Loss) after tax |
14.400 |
13.100 |
37.300 |
|
Other comprehensive Income |
(0.500) |
(0.300) |
(1.200) |
|
Total comprehensive Income |
13.900 |
12.800 |
36.100 |
|
Paid up equity share capital (Face Value of Rs 05/-each) |
105.900 |
105.900 |
105.900 |
|
Reserve excluding Revaluation Reserve as per Balance Sheet
of previous accounting year |
261.200 |
237.700 |
261.200 |
|
Earnings
per share |
|
|
|
|
(a)
Basic |
0.69 |
0.63 |
1.78 |
|
(b)
Diluted |
0.69 |
0.63 |
1.78 |
- The above Standalone Unaudited Results have been reviewed by the Audit Committee and approved by the Board of Directors at their Meeting held on 05-02-2018 and Limited Review of the same was carried out by the statutory Auditors of the Company.
2. Regrouping has done wherever considered necessary.
3. The Company is mainly engaged in manufacturing and sale of Flexible PVC
Flooring, Film and Sheets. Hence the Operations of the company are considered
as a single business product.
4. Segment reporting is not applicable.
FIXED ASSETS
· Leasehold Land
· Buildings
· Plant and Machinery
· Furniture and Fixture
· Motor Vehicles
· Office Equipments
· Computer
· Electrical Installations
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 67.63 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 78.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TRUP |
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 |
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.