|
|
|
MIRA INFORM REPORT
|
Report No. : |
507146 |
|
Report Date : |
02.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
VOXCO PIGMENTS AND CHEMICALS PRIVATE LIMITED (w.e.f.06.09.2011) |
|
|
|
|
Formerly Known
As : |
VAPI OXIDE COLOURS PRIVATE LIMITED |
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|
Registered
Office : |
Plot No. 794, 794/1/A and 794/1/B, G.I.D.C, Vapi, Valsad-396195,
Gujarat |
|
Tel. No.: |
91-260-2434088/ 2431760 |
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|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
24.02.2003 |
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Com. Reg. No.: |
04-042058 |
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|
|
Capital
Investment / Paid-up Capital : |
INR 16.375 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U24224GJ2003PTC042058 |
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|
|
IEC No.: [Import-Export Code No.] |
5206067687 |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
24AABCV6739M1ZV |
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|
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TIN No.: |
24250800660 |
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|
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CST No.: |
24750800660 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCV6739M |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing of inorganic chrome pigments. (Registered Activity and also Confirmed by management) |
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|
No. of Employees
: |
70 (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 |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Voxco Pigments and Chemicals Private Limited was incorporated in the year 2003. The company manufactures various pigments for coatings, inks and plastics applications. For the financial year 2017, the company has achieved revenue growth of 28.27% as compared to the previous year along with an average profit margin of 2.98%. The satisfactory financial risk profile of the company is marked by adequate networth base along with average debt balance sheet profile. These rating strengths are partially offset by the company's modest scale of operations, its large working capital requirements, and its exposure to intense competition resulting in its modest profitability margins. Payments seem to be slow but 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term borrowing = BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
30.04.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term borrowing = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
30.04.2018 |
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
31-03-2018.
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 02.05.2018
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 PARTED BY
|
Name : |
Mr. Harish |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-9820094784 |
|
Date : |
02.05.2018 |
LOCATIONS
|
Registered Office/ Unit 1/ Site Office : |
Plot No. 794, 794/1/A and 794/1/B, G.I.D.C, Vapi, Valsad-396195,
Gujarat, India |
|
Tel. No.: |
91-260-2434088/2431760 |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality: |
Industrial |
|
|
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|
Mumbai Office: |
A/403, Kemp Plaza, Mind Space, Off Link Road, Malad (West), Mumbai –
400064, India. |
|
Tel. No.: |
91-22-28767751/52 |
|
E-Mail : |
|
|
|
|
|
Sarigam Unit
2: |
Plot No. 1907/3 + 2121, Sargam Chemicals Zone, Sarigam - 396155, Gujarat, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Ishan Prabhubhai Raveshia |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 3502, B Wing, 35th Floor, Tower B, Imperial,
Heights, Behind Oshiwaradepo, Link Road, Goregaon (West), Mumbai – 400062,
Maharashtra, India. |
|
Date of Birth/Age : |
27.10.1969 |
|
Date of Appointment : |
29.04.2016 |
|
DIN No.: |
00544985 |
|
|
|
|
Name : |
Mr. Prabhu Raveshia |
|
Designation : |
Whole Time Director |
|
Address : |
B-401, Shanti Park, Garodia Nagar, 4B Vallabhbaug Lane, Sharmin,
Ghatkopar, Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
27.11.1940 |
|
Date of Appointment : |
24.02.2003 |
|
DIN No.: |
00534546 |
|
|
|
|
Name : |
Mr. Ashok Gheewala |
|
Designation : |
Whole Time Director |
|
Address : |
Hitarth C-operative Housing Society, Room No. 402, B Building, Plot
-14/3, Pardi, Vapi – 396191, Gujarat, India |
|
Date of Birth/Age : |
15.12.1956 |
|
Date of Appointment : |
24.02.2003 |
|
DIN No.: |
00534563 |
|
|
|
|
Name : |
Mr. Vijay Sunmukhbhai Joshi |
|
Designation : |
Whole Time Director |
|
Address : |
Himgiri Apartments, Block No. 201, Kanchanganga Complex Pardi, Valsad,
Vapi – 396191, Gujarat, India |
|
Date of Birth/Age : |
08.03.1957 |
|
Date of Appointment : |
03.08.2010 |
|
DIN No.: |
03060818 |
KEY EXECUTIVE
|
Name : |
Mr. Harish |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Prabhu Lavji Raveshia |
|
340393 |
|
Ashok Gheewala |
|
173571 |
|
Ishan Prabhu Raveshia |
|
353410 |
|
Nalini Prabhu Raveshia |
|
184179 |
|
Nanda Ashok Gheewala |
|
96429 |
|
Neha Ishan Raveshia |
|
106071 |
|
Gaurav P Raveshia |
|
15429 |
|
Ishan P Raveshia (HUF) |
|
80518 |
|
Total |
|
1350000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Prabhu Lavji Raveshia |
|
95000 |
|
Ishan Prabhu Raveshia |
|
95000 |
|
Nalini Prabhu Raveshia |
|
20000 |
|
Nanda Ashok Gheewala |
|
20000 |
|
Neha Ishan Raveshia |
|
20000 |
|
Ashok Gheewala |
|
37500 |
|
Total |
|
287500 |
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of inorganic chrome pigments. (Registered Activity and also Confirmed by management) |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Advance Payment / L/C / Cheque and Credit /
(Others) |
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Purchasing : |
Advance Payment / L/C / Cheque and Credit /
(Others) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees
: |
70 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
G B Laddha and Company LLP Chartered Accountants |
|
Address : |
Silvassa Road, 1-2, Sahara Market, Vapi – 396191, Gujarat, India |
|
Fax
No.: |
91-260-2425966 |
|
Email: |
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Income-tax
PAN of auditor or auditor's firm : |
AAEFG2280N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other related parties : |
|
CAPITAL STRUCTURE
As on 25.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1700000 |
Equity Shares |
INR 10/- each |
INR 17.000 Million |
|
400000 |
Preference Shares |
INR 10/- each |
INR 4.000 Million |
|
|
Total |
|
INR 21.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1350000 |
Equity Shares |
INR 10/- each |
INR 13.500
Million |
|
287500 |
Preference Shares |
INR 10/- each |
INR 2.875 Million |
|
|
Total |
|
INR 16.375 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
16.375 |
14.500 |
4.500 |
|
(b) Reserves &
Surplus |
70.078 |
42.901 |
41.431 |
|
(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) |
86.453 |
57.401 |
45.931 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
70.505 |
8.329 |
3.870 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
70.505 |
8.329 |
3.870 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
120.596 |
56.054 |
65.278 |
|
(b) Trade payables |
123.533 |
98.137 |
80.827 |
|
(c) Other current
liabilities |
22.189 |
4.108 |
3.474 |
|
(d) Short-term provisions |
8.463 |
8.339 |
4.300 |
|
Total Current Liabilities
(4) |
274.781 |
166.638 |
153.879 |
|
|
|
|
|
|
TOTAL |
431.739 |
232.368 |
203.680 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
68.504 |
24.964 |
22.421 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
95.141 |
3.453 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
(1.249) |
0.722 |
0.746 |
|
(d) Long-term Loan and Advances |
4.391 |
2.781 |
2.881 |
|
(e) Other Non-current
assets |
3.769 |
3.412 |
1.149 |
|
Total Non-Current Assets |
170.556 |
35.332 |
27.197 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
86.817 |
63.171 |
64.813 |
|
(c) Trade receivables |
135.873 |
110.172 |
77.509 |
|
(d) Cash and cash
equivalents |
6.343 |
3.171 |
8.110 |
|
(e) Short-term loans and
advances |
32.150 |
20.522 |
26.051 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
261.183 |
197.036 |
176.483 |
|
|
|
|
|
|
TOTAL |
431.739 |
232.368 |
203.680 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
723.873 |
564.352 |
476.087 |
|
|
Other Income |
18.220 |
7.550 |
2.107 |
|
|
TOTAL |
742.093 |
571.902 |
478.194 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
435.360 |
295.603 |
275.402 |
|
|
Purchases of
Stock-in-Trade |
106.155 |
107.500 |
85.228 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(14.338) |
5.472 |
(8.313) |
|
|
Employees benefits
expense |
40.932 |
32.244 |
23.724 |
|
|
Other expenses |
126.663 |
98.182 |
75.266 |
|
|
TOTAL |
694.772 |
539.001 |
451.307 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
47.321 |
32.901 |
26.887 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
10.382 |
8.260 |
10.066 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
36.939 |
24.641 |
16.821 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.688 |
4.607 |
4.295 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
32.251 |
20.034 |
12.526 |
|
|
|
|
|
|
|
Less |
TAX |
10.693 |
6.732 |
4.162 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
21.558 |
13.302 |
8.364 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
37.600 |
26.131 |
17.907 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Dividend Distribution Tax |
0.000 |
0.281 |
0.000 |
|
|
Proposed Dividend |
0.000 |
1.440 |
0.000 |
|
|
Accelerated depreciation
as per companies act, 2013 |
0.000 |
0.112 |
0.140 |
|
|
Fixed Assets written-off |
0.006 |
0.000 |
0.000 |
|
|
Total |
0.006 |
1.833 |
0.140 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
59.152 |
37.600 |
26.131 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
201.896 |
202.432 |
114.564 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
180.512 |
134.754 |
125.658 |
|
|
TOTAL
IMPORTS |
180.512 |
134.754 |
125.658 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
15.97 |
9.85 |
6.41 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
17.410 |
1.126 |
1.121 |
|
Cash generated from operations |
10.402 |
55.144 |
3.103 |
|
Net cash flow from operating activity |
2.824 |
53.311 |
(0.467) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
68.51 |
71.25 |
59.42 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.33 |
5.12 |
6.14 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
83.27 |
88.86 |
81.81 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.55 |
0.52 |
0.41 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.29 |
1.16 |
1.20 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.84 |
0.76 |
0.78 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.41 |
1.14 |
1.53 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.18 |
2.90 |
3.35 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.89 |
0.50 |
0.49 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.56 |
3.98 |
2.67 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.98 |
2.36 |
1.76 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.99 |
5.72 |
4.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
24.94 |
23.17 |
18.21 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.95 |
1.18 |
1.15 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.63 |
0.80 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.20 |
0.25 |
0.23 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
12.73 |
4.52 |
15.62 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.95 |
1.18 |
1.15 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
4.500 |
14.500 |
16.375 |
|
Reserves & Surplus |
41.431 |
42.901 |
70.078 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
45.931 |
57.401 |
86.453 |
|
|
|
|
|
|
long-term borrowings |
3.870 |
8.329 |
70.505 |
|
Short term borrowings |
65.278 |
56.054 |
120.596 |
|
Current Maturities of
Long-Term Debts |
1.121 |
1.126 |
17.410 |
|
Total borrowings |
70.269 |
65.509 |
208.511 |
|
Debt/Equity ratio |
1.530 |
1.141 |
2.412 |
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 |
476.087 |
564.352 |
723.873 |
|
|
|
18.540 |
28.266 |
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 |
476.087 |
564.352 |
723.873 |
|
Profit |
8.364 |
13.302 |
21.558 |
|
|
1.76% |
2.36% |
2.98% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
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 |
CORPORATE
INFORMATION
The company is private limited company incorporated under the provision of companies act, 1956. The company is engaged in manufacturing of inorganic chrome pigments.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Loans and advances
from related parties |
|
|
|
From directors |
2.018 |
2.000 |
|
From Relative |
1.009 |
0.000 |
|
Total |
3.027 |
2.000 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G39526520 |
10406944 |
BANK OF BARODA |
21/01/2013 |
18/02/2017 |
- |
220089000.00 |
INTERNATIONAL BUSINESS BRANCH, MATHRU ASHISH BUILDINGS. V. ROAD, S. V. ROAD, KANDIVALI (WEST) MUMBAI MH 400067 INDIA |
|
2 |
B67935148 |
90112799 |
PUNJAB NATIONAL BANK |
30/07/2003 |
29/06/2011 |
13/02/2013 |
28538901.0 |
GIDC Branch Vapi GUJARAT 396195 INDIA |
|
3 |
B67934182 |
90107993 |
PUNJAB NATIONAL BANK |
18/11/2003 |
18/11/2009 |
13/02/2013 |
21771000.0 |
GUNJAN ROAD, NEAR HOTEL GALAXY GIDC CHAR RASTA VAPI GUJARAT 396195 INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Bank guarantee given to GSPC |
1.047 |
0.345 |
|
|
1.047 |
0.345 |
FIXED ASSETS
- Building
- Furniture and
Fixtures
- Plant and
Machinery
- Computer and
Printer
- Laboratories
- Vehicle
- Office
Equipment’s
- Site
Development
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 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 65.22 |
|
|
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
TEJ |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
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.