|
|
|
%20-%20506989%2003-May-2018_files/image002.jpg){kind=small}
%20-%20506989%2003-May-2018_files/image004.jpg)
%20-%20506989%2003-May-2018_files/image006.gif)
MIRA INFORM REPORT
|
Report No. : |
506989 |
|
Report Date : |
03.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
MODERN THREADS INDIA LIMITED MODERN WOOLLENS (A UNIT OF MODERN THREADS INDIA LIMITED) |
|
|
|
|
Registered
Office : |
A-4, Vijay Path, Tilak Nagar, Jaipur – 302004, Rajasthan |
|
Tel. No.: |
91-141-4113645 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
28.08.1980 |
|
|
|
|
Com. Reg. No.: |
17-002075 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 435.252 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17115RJ1980PLC002075 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TIN No.: |
08191000227 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM1850A |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
08AABCM1850A1Z1 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturers and Exporter of Wool and
Blended Worsted Yarn (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1980 and it is a manufacturer of grey and dyed and fancy yarns made of polyester viscose in various norms and applications. As per financials of March 2017, the company has registered decline in its revenue as compared to its previous year’s revenue and has reported decent profit margin. Rating takes into consideration the company’s accumulated previous year’s losses which has led to erosion of net worth and weak financial risk profile. Payments seems to be slow and delayed. In view of aforesaid, the company can be considered for business dealings at fully safe and secured trade terms and conditions. Note: Pursuent to Sick Industrial Companies (Special Provision) Repeat Act, 2003 (SICA Repeal Act) the proceedings pending before BIFR stands abated with effect 1.12.2016 and the company is in process of making reference to National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code, 2016. |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 03.05.2018
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 DENIED BY
|
Name : |
Mr. Rajiv |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-1482-241801 |
|
Date : |
28.04.2018 |
LOCATIONS
|
Registered Office : |
A-4, Vijay Path, Tilak Nagar, Jaipur – 302004, Rajasthan, India |
|
Tel. No.: |
91-141-4113645 |
|
Fax No.: |
91-141-2621382 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office / Head Office: |
68/69, Godavari, Pochkhanwala, Worli, Mumbai – 400030, Maharashtra,
India |
|
Tel. No.: |
91-22-24973269 |
|
Fax No.: |
91-22-24950962 |
|
|
|
|
Factory 1 (Yarn Division) : |
Village - Raila, District - Bhilwara – 311024, Rajasthan, India |
|
Tel. No.: |
91-1487-73132 to 73135 |
|
Fax No.: |
91-1487-73188 |
|
|
|
|
Factory 2 (Woollens Division) : |
Hamirgarh Road, - Bhilwara – 311001, Rajasthan, India |
|
Tel. No.: |
91-1482-241801 |
|
Fax No.: |
91-1482-297924 |
|
|
|
|
Marketing Office: |
5, Bhima Building, Ground Floor, Worli Sagar Co-operative Housing Society, Sir Pochkhanwala Road, Worli, Mumbai – 400 030, Maharashtra, India |
|
Tel. No.: |
91-22-24928622/23 |
|
Fax No.: |
91-22-24910220 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Rajesh Ranka |
|
Designation : |
Managing Director |
|
Address : |
7th Floor, Siddharth Building Dr. R.G. Thadani Marg, Worli, Mumbai-400018, Maharashtra, India |
|
Date of Appointment : |
22.09.2011 |
|
DIN No.: |
03438721 |
|
|
|
|
Name : |
Ms. Veena Jain |
|
Designation : |
Director |
|
Address : |
Chak Saif, Ward No. 17, Sant Ravidas Nagar, Bhadohi Sant Ravidas Nagar-221401, Uttar Pradesh, India |
|
Date of Appointment : |
18.06.2015 |
|
DIN No.: |
07148606 |
|
|
|
|
Name : |
Mr. Naresh Devpura |
|
Designation : |
Director |
|
Address : |
504, Hiran Margi Secctor 11, Udaipur-313001, Rajasthan, India |
|
Date of Birth/ Age: |
01.10.1959 |
|
Date of Appointment : |
01.07.2016 |
|
DIN No.: |
07526062 |
|
|
|
|
Name : |
Mr. Brij Mohan Taparia |
|
Designation : |
Director |
|
Address : |
G-1/602, Bhimashankar CHS Limited, Near Ryan Internatio Sector 19 A Nerul Node-III, Thane 400706, Maharashtra, India |
|
Date of Appointment : |
01.07.2016 |
|
DIN No.: |
07538954 |
|
|
|
|
Name : |
Mr. Jagdish Narayan Sharma |
|
Designation : |
Director |
|
Address : |
House No. 212, Udayaramasar, District Bikaner 334402, Rajasthan, India |
|
Date of Birth/ Age: |
10.05.1968 |
|
Date of Appointment : |
01.07.2016 |
|
DIN No.: |
07552825 |
|
|
|
|
Name : |
Mr. Ram Rai Kabra |
|
Designation : |
Additional Director |
|
Address : |
A 10, Sanjay Colony, Near Shri Gust House, Bhilwara-311001, Rajasthan, India |
|
Date of Appointment : |
14.12.2017 |
|
DIN No.: |
07985411 |
KEY EXECUTIVES
|
Name : |
Mr. Kapil Kumar Kumawat |
|
Designation : |
Company Secretary |
|
Address : |
40, Mitra Colony Ram Nagar, Sodala, Jaipur-302019, Rajasthan, India |
|
Date of Appointment : |
01.04.2017 |
|
PAN No.: |
DJMPK5076C |
|
|
|
|
Name : |
Mr. Prabodh Kumar Nahar |
|
Designation : |
Chief Financial Officer |
|
Address : |
House No.183, Kashi Puri, Bhilwara-311001, Rajasthan, India |
|
Date of Appointment : |
01.07.2014 |
|
PAN No.: |
AAJPN4575A |
MAJOR SHAREHOLDERS
As on March, 2018
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % |
|
|
(A) Promoter & Promoter
Group |
22636901 |
65.10 |
|
|
(B) Public |
12138259 |
34.90 |
|
|
Grand Total |
34775160 |
100.00 |
%20-%20506989%2003-May-2018_files/image008.gif)
Statement showing shareholding pattern of the Promoter and
Promoter Group
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of |
|
|
A1) Indian |
|||
|
Any
Other (specify) |
22636901 |
65.10 |
|
|
Genero Trade Exim LLP |
15636901 |
44.97 |
|
|
Arihant Beneficiary Trust
(Lalitha Ranka) |
7000000 |
20.13 |
|
|
Sub
Total A1 |
22636901 |
65.10 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
22636901 |
65.10 |
Statement showing shareholding pattern of the Public
shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR, 1957
As a % |
|
|
B1)
Institutions |
|
|
|
|
Mutual
Funds/ |
16200 |
0.05 |
|
|
Foreign
Portfolio Investors |
436900 |
1.26 |
|
|
T A I B A/c T S M L |
415839 |
1.20 |
|
|
Financial
Institutions/ Banks |
3335814 |
9.59 |
|
|
Administrator Of The Specified
Undertaking Ofthe Unit Trust Of India-unit Scheme 1964 |
2171376 |
6.24 |
|
|
Unit Trust Of India |
808000 |
2.32 |
|
|
Insurance
Companies |
385270 |
1.11 |
|
|
Sub
Total B1 |
4174184 |
12.00 |
|
|
B2)
Central Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
Central
Government/ State Government(s)/ President of India |
374900 |
1.08 |
|
|
Gujarat State Financial
Corporation |
374900 |
1.08 |
|
|
Sub
Total B2 |
374900 |
1.08 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual
share capital upto INR 0.200 million |
5942565 |
17.09 |
|
|
Any
Other (specify) |
1646610 |
4.74 |
|
|
Bodies Corporate |
1508091 |
4.34 |
|
|
Amrex Marketing Private
Limited |
1024400 |
2.95 |
|
|
Non-Resident Indian (NRI) |
136761 |
0.39 |
|
|
HUF |
1758 |
0.01 |
|
|
Sub
Total B3 |
7589175 |
21.82 |
|
|
B=B1+B2+B3 |
12138259 |
34.90 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporter of Wool and
Blended Worsted Yarn (Registered Activity) |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Not Divulged |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
S.S. Surana and Company Chartered Accountants |
|
Address : |
Jaipur – 302015, Rajasthan, India |
|
|
|
|
Secretarial
Auditor: |
|
|
Name : |
R.K Jain and Associates Company Secretaries |
|
Address : |
Bhilwara-311001, Rajasthan, India |
|
|
|
|
Cost Auditor: |
|
|
Name : |
M. Goyal and Company Cost Accountants |
|
Address : |
Jaipur – 302015, Rajasthan, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Other related party : |
Shubham Corporate Advisory Service Private Limited |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
185000000 |
Equity Shares |
INR 10/- each |
INR 1850.000 Million |
|
2000000 |
Preference Shares |
INR 100/- each |
INR 200.000 Million |
|
|
Total |
|
INR
2050.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34775160 |
Equity Shares |
INR 10/- each |
INR 347.752 Million |
|
75000 |
16.5% Cumulative Redeemable Preference Shares |
INR 100/- each |
INR 7.500 Million |
|
800000 |
16% Cumulative Redeemable Preference Shares |
INR 100/- each |
INR 80.000 Million |
|
|
Total |
|
INR 435.252
Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
435.252 |
435.252 |
435.252 |
|
(b) Reserves & Surplus |
(1908.877) |
(2005.509) |
(2144.764) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
145.000 |
145.000 |
145.000 |
|
Total
Shareholders’ Funds (1) + (2) |
(1328.625) |
(1425.257) |
(1564.512) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1894.985 |
1894.985 |
1865.060 |
|
(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 |
22.410 |
21.018 |
21.161 |
|
Total
Non-current Liabilities (3) |
1917.395 |
1916.003 |
1886.221 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
99.987 |
93.959 |
161.623 |
|
(c) Other current liabilities |
291.030 |
307.877 |
347.575 |
|
(d) Short-term provisions |
2.880 |
2.297 |
2.260 |
|
Total
Current Liabilities (4) |
393.897 |
404.133 |
511.458 |
|
|
|
|
|
|
TOTAL |
982.667 |
894.879 |
833.167 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
354.596 |
319.621 |
326.090 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
2.450 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.076 |
0.046 |
0.046 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
10.790 |
11.616 |
6.838 |
|
(e) Other Non-current assets |
5.745 |
5.745 |
5.745 |
|
Total
Non-Current Assets |
373.657 |
337.028 |
338.719 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
245.968 |
254.159 |
279.888 |
|
(c) Trade receivables |
190.117 |
186.557 |
122.239 |
|
(d) Cash and cash equivalents |
147.926 |
84.136 |
47.812 |
|
(e) Short-term loans and
advances |
24.999 |
32.999 |
44.509 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
609.010 |
557.851 |
494.448 |
|
|
|
|
|
|
TOTAL |
982.667 |
894.879 |
833.167 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1483.652 |
1514.878 |
1429.100 |
|
|
Other Income |
16.102 |
23.477 |
16.555 |
|
|
TOTAL
|
1499.754 |
1538.355 |
1445.655 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
976.772 |
1023.987 |
993.545 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
20.989 |
8.083 |
(14.452) |
|
|
Employees benefits expense |
113.878 |
109.088 |
94.692 |
|
|
Other expenses |
261.550 |
281.772 |
273.596 |
|
|
Exceptional Items |
(5.055) |
(49.953) |
0.000 |
|
|
Extraordinary Items |
12.306 |
0.000 |
0.000 |
|
|
TOTAL |
1380.440 |
1372.977 |
1347.381 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
119.314 |
165.378 |
98.274 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
7.945 |
10.752 |
8.359 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
111.369 |
154.626 |
89.915 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
14.737 |
15.371 |
15.135 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
96.632 |
139.255 |
74.780 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
96.632 |
139.255 |
74.780 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2946.848) |
(3086.103) |
(3160.883) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(2850.216) |
(2946.848) |
(3086.103) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1024.187 |
1117.018 |
953.180 |
|
|
TOTAL
EARNINGS |
1024.187 |
1117.018 |
953.180 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
698.620 |
700.802 |
662.752 |
|
|
Stores and Spares |
11.582 |
24.155 |
15.632 |
|
|
Capital Goods |
1.707 |
3.529 |
0.000 |
|
|
TOTAL
IMPORTS |
711.909 |
728.486 |
678.384 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
|
|
|
|
Basic
|
|
|
|
|
|
Before Exceptional Items &
Extraordinary Items |
2.99 |
2.57 |
2.15 |
|
|
After Exceptional Items &
Extraordinary Items |
2.78 |
4.00 |
2.15 |
|
|
|
|
|
|
|
|
Diluted
|
|
|
|
|
|
Before Exceptional Items &
Extraordinary Items |
2.11 |
1.81 |
2.15 |
|
|
After Exceptional Items &
Extraordinary Items |
1.96 |
4.00 |
2.15 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
45.000 |
|
Cash generated from operations |
121.142 |
68.817 |
84.811 |
|
Net cash flows from (used in) operating activity |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
46.77 |
44.95 |
31.22 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
7.80 |
8.12 |
11.69 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
37.36 |
33.49 |
59.38 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.49 |
0.65 |
0.35 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.33 |
0.52 |
0.30 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
2.33 |
2.57 |
2.91 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
(1.43) |
(1.33) |
(1.22) |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
(0.30) |
(0.28) |
(0.33) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
(0.27) |
(0.22) |
(0.21) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
15.02 |
15.38 |
11.76 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
6.51 |
9.19 |
5.23 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
9.83 |
15.56 |
8.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(7.27) |
(9.77) |
(4.78) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.55 |
1.38 |
0.97 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.92 |
0.75 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
(1.35) |
(1.59) |
(1.88) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.35 |
4.35 |
4.39 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.55 |
1.38 |
0.97 |
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 |
435.252 |
435.252 |
435.252 |
|
Reserves & Surplus |
(2144.764) |
(2005.509) |
(1908.877) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
145.000 |
145.000 |
145.000 |
|
Net
worth |
(1564.512) |
(1425.257) |
(1328.625) |
|
|
|
|
|
|
long-term borrowings |
1865.060 |
1894.985 |
1894.985 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
45.000 |
0.000 |
0.000 |
|
Total
borrowings |
1910.060 |
1894.985 |
1894.985 |
|
Debt/Equity
ratio |
(1.221) |
(1.330) |
(1.426) |
%20-%20506989%2003-May-2018_files/image010.gif)
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 |
1429.100 |
1514.878 |
1483.652 |
|
|
|
6.002 |
(2.061) |
%20-%20506989%2003-May-2018_files/image012.gif)
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 |
1429.100 |
1514.878 |
1483.652 |
|
Profit |
74.780 |
139.255 |
96.632 |
|
|
5.23% |
9.19% |
6.51% |
%20-%20506989%2003-May-2018_files/image014.gif)
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 |
No |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
No |
|
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 |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C64604911 |
80061642 |
SUMURAI COMMERCIALS PRIVATE LIMITED |
09/12/1999 |
24/08/2015 |
- |
510067289.0 |
G-19, MANBHAU CHAWL, T.H.KATARIA MARG,MATUNGA - WEST,MUMBAIMH400019IN |
|
2 |
C64603541 |
80061637 |
SUMURAI COMMERCIALS PRIVATE LIMITED |
21/01/1999 |
24/08/2015 |
- |
343432873.0 |
G-19, MANBHAU CHAWL, T.H.KATARIA MARG,MATUNGA - WEST,MUMBAIMH400019IN |
|
3 |
C64602360 |
80061636 |
SUMURAI COMMERCIALS PRIVATE LIMITED |
21/01/1999 |
24/08/2015 |
- |
166634416.0 |
G-19, MANBHAU CHAWL, T.H.KATARIA MARG,MATUNGA - WEST,MUMBAIMH400019IN |
|
4 |
C64284730 |
80061638 |
SUMURAI COMMERCIALS PRIVATE LIMITED |
24/09/1996 |
24/08/2015 |
- |
424334000.0 |
G-19, MANBHAU CHAWL, T.H.KATARIA MARG,MATUNGA - WEST,MUMBAIMH400019IN |
|
5 |
G56197270 |
80062520 |
GUJARAT POLYFILS (INDIA) LIMITED |
24/09/1996 |
18/09/2017 |
- |
2000000000.0 |
A-4 , VIJAY PATHTILAK NAGARJAIPURRa302004IN |
|
6 |
G56402100 |
80062519 |
GUJARAT POLYFILS (INDIA) LIMITED |
19/12/1995 |
18/09/2017 |
- |
46500000.0 |
A-4 , VIJAY PATHTILAK NAGARJAIPURRa302004IN |
|
7 |
G56194400 |
80062518 |
GUJARAT POLYFILS (INDIA) LIMITED |
24/01/1995 |
18/09/2017 |
- |
120000000.0 |
A-4 , VIJAY PATHTILAK NAGARJAIPURRa302004IN |
|
8 |
G56200801 |
80062517 |
GUJARAT POLYFILS (INDIA) LIMITED |
10/01/1992 |
18/09/2017 |
- |
23300000.0 |
A-4 , VIJAY PATHTILAK NAGARJAIPURRa302004IN |
|
9 |
G56413420 |
80062516 |
GUJARAT POLYFILS (INDIA) LIMITED |
27/11/1991 |
18/09/2017 |
- |
5500000.0 |
A-4 , VIJAY PATHTILAK NAGARJAIPURRa302004IN |
|
10 |
G56412141 |
80062310 |
GUJARAT POLYFILS (INDIA) LIMITED |
09/07/1990 |
18/09/2017 |
- |
3900000.0 |
A-4 , VIJAY PATHTILAK NAGARJAIPURRa302004IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Bank Guarantees |
8.690 |
3.675 |
|
Disputed demands of sales tax cases under appeal |
24.136 |
24.825 |
|
Disputed demands of Excise cases under appeal |
8.030 |
8.030 |
|
Other Disputed demands by government |
6.089 |
6.500 |
|
Disputed liabilities and claims not acknowledged as debts |
22.727 |
22.960 |
|
Total |
69.672 |
65.99 |
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF ENDED 30.09.2017
(INR In million)
|
PARTICULARS |
Quarter
ended |
Half
Year ended |
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1. Income from Operations |
|
|
|
|
Income from operations |
353.705 |
362.184 |
715.889 |
|
Other Income |
8.859 |
3.799 |
12.658 |
|
Total income from operations (net) |
362.564 |
365.983 |
728.547 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
261.982 |
262.589 |
524.571 |
|
Changes in inventories of finished goods. work-in-progress
and stock in trade |
(29.570) |
(19.985) |
(49.555) |
|
Employee benefits expense |
41.110 |
32.529 |
73.639 |
|
Depreciation and Amortization Expenses |
4.398 |
3.764 |
8.162 |
|
Other Expenses |
85.016 |
72.671 |
157.687 |
|
Finance Costs |
1.145 |
1.590 |
2.735 |
|
Excise Duty |
0.000 |
0.151 |
0.151 |
|
Total expenses |
364.081 |
353.309 |
717.390 |
|
Profit/ (Loss) from ordinary activities after finance cost
but before exceptional items |
(1.517) |
12.674 |
11.157 |
|
Exceptional items |
0.000 |
0.000 |
0.000 |
|
Profit/ (Loss) from ordinary activities before tax |
(1.517) |
12.674 |
11.157 |
|
Tax expenses |
0.000 |
0.000 |
0.000 |
|
Net Profit / (Loss) for the period |
(1.517) |
12.674 |
11.157 |
|
|
|
|
|
|
Other
compressive income |
|
|
|
|
Items that will not be reclassified to profit and loss |
(0.688) |
(0.688) |
(1.376) |
|
Items that will be reclassified to profit and loss |
0.000 |
0.000 |
0.000 |
|
Other
compressive income for period |
(0.688) |
(0.688) |
(1.376) |
|
|
|
|
|
|
Total
compressive income |
(2.205) |
11.986 |
9.781 |
|
|
|
|
|
|
Paid-up
Equity Share Capital (Face value INR 10/- per share) |
347.752 |
347.752 |
347.752 |
|
Earnings per share (before extraordinary items) of INR
10/- each (not annualized): |
|
|
|
|
(a) Basic |
(0.04) |
0.36 |
0.32 |
|
(b) Diluted |
(0.04) |
0.36 |
0.32 |
SEGMENT WISE
REVENUE, RESULTS AND CAPITAL EMPLOYED
(INR In Million)
|
Particulars |
Quarter
ended |
Nine
Months ended |
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
Unaudited |
||
|
1. Segment
Revenue |
|
|
|
|
Woolen
|
340.224 |
362.184 |
702.408 |
|
Synthetic
yarn |
13.481 |
0.000 |
13.481 |
|
Others |
0.000 |
0.000 |
0.000 |
|
Total segment
revenue |
353.705 |
362.184 |
715.889 |
|
Less: Inter –
segment revenue |
0.000 |
0.000 |
0.000 |
|
Total income
from operations (net sales) |
353.705 |
362.184 |
715.889 |
|
|
|
|
|
|
2. Segment
Results |
|
|
|
|
Profit/ (loss)
before tax and interest |
|
|
|
|
Woolen
|
27.678 |
25.428 |
53.106 |
|
Synthetic
yarn |
(28.050) |
(11.164) |
(39.214) |
|
Others |
0.000 |
0.000 |
0.000 |
|
Total segment
results |
(0.372) |
14.264 |
13.892 |
|
(Add)/Less:
Finance Costs |
1.145 |
1.590 |
2.735 |
|
Total Profit
Before Tax |
(1.517) |
12.674 |
11.157 |
|
|
|
|
|
|
3. Segment Assets |
|
|
|
|
Woolen
|
770.320 |
760.529 |
770.320 |
|
Synthetic
yarn |
191.564 |
134.473 |
191.564 |
|
Others |
107.034 |
107.034 |
107.034 |
|
Total Segment Assets |
1068.918 |
1002.036 |
1068.918 |
|
|
|
|
|
|
3. Segment Liabilities |
|
|
|
|
Woolen
|
(745.732) |
(729.679) |
(745.732) |
|
Synthetic
yarn |
1983.073 |
1897.932 |
1983.073 |
|
Others |
1382.921 |
1382.921 |
1382.921 |
|
Total Segment Liabilities |
2620.262 |
2551.174 |
2620.262 |
STATEMENT OF
ASSETS AND LIABILITIES AS ON 30.09.2017
(INR In Million)
|
SOURCES
OF FUNDS |
30.09.2017 |
|
[Unaudited] |
|
|
I.
EQUITY AND LIABILITIES |
|
|
(1)
Shareholders' Funds |
|
|
(a) Share Capital |
347.752 |
|
(b) Reserves & Surplus |
(1899.096) |
|
(c) Money received against
share warrants |
0.000 |
|
|
|
|
(2) Share Application Money
Pending Allotment |
0.000 |
|
(3) Minority Interest |
0.000 |
|
Total
Shareholders’ Funds |
(1551.344) |
|
|
|
|
(3)
Non-Current Liabilities |
|
|
(a) long-term borrowings |
1894.985 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
|
(d) long-term provisions |
27.334 |
|
Total
Non-current Liabilities (3) |
1922.319 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term borrowings |
233.770 |
|
(b) Trade payables |
151.827 |
|
(c) Other current liabilities |
308.845 |
|
(d) Short-term provisions |
3.501 |
|
Total
Current Liabilities (4) |
697.943 |
|
|
|
|
TOTAL |
1068.918 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
|
|
(i) Tangible assets |
406.248 |
|
(ii) Intangible Assets |
0.000 |
|
(iii) Capital work-in-progress |
2.529 |
|
(iv) Intangible assets under
development |
0.000 |
|
(b) Non-current Investments |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
|
(d) Long-term Loan and
Advances |
0.000 |
|
(e) Other Non-current assets |
13.472 |
|
Total
Non-Current Assets |
422.249 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
15.332 |
|
(b) Inventories |
311.143 |
|
(c) Trade receivables |
248.182 |
|
(d) Cash and cash equivalents |
43.872 |
|
(e) Short-term loans and advances |
0.000 |
|
(f) Other current assets |
28.140 |
|
Total Current Assets |
646.669 |
|
|
|
|
TOTAL |
1068.918 |
FIXED ASSETS
- Leasehold
Land
- Freehold Land
- Building
- Furniture and
Fixture
- Office
Equipments
- Plant and
Machinery
- Vehicles
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 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 66.78 |
|
UK Pound |
1 |
INR 92.89 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information Gathered
by : |
AKS |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·