|
|
|
MIRA INFORM REPORT
|
Report No. : |
506043 |
|
Report Date : |
03.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
RINAC INDIA LIMITED |
|
|
|
|
Registered
Office : |
No.5, Saraswathi Nivas, Main Channel Road, Saraswathipuram, Ulsoor,
Bengaluru- 560008, Karnataka |
|
Tel. No.: |
91-80-65359823 / 25542998/ 41132998 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
31.01.1994 |
|
|
|
|
Com. Reg. No.: |
08-015169 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 104.574 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52334KA1994PLC015169 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0795004761 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR7111E |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
29AAACR7111E1ZN |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Subject engaged in the Manufacture of Cold Rooms, Cool Barns, Industrial Refrigeration, Clean rooms, Tele shelters and Dry Warehouse etc. (Registered Activity and also confirmed by management) |
|
|
|
|
No. of Employees
: |
300 (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 1000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1994 and it
is having satisfactory track. For the financial year 2017, the company has increased its revenue
from operations as compared to previous year but maintained average
profitability of 3.45%. Rating takes into consideration sound financial profile of the company
marked by adequate networth base and debt free balance sheet. Further, rating also reflects from its established track records of
operations, Promoter’s long presence coupled with technical experience in the
cold-chain industry diversified product portfolio. However, rating strength is partially offset by intense competitive
pressure owing to the highly fragmented nature of the industry. Trade relations are reported as fair. Business is active. Payments are
reported 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 |
ICRA |
|
Rating |
Long Term - Fund Based = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
20.06.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Non Fund Based = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
20.06.2017 |
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 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 PARTED BY
|
Name : |
Mr. Puthucode Vaiyanathan Venkiteswaran |
|
Designation : |
Director |
|
Contact No.: |
91-9845026874 |
LOCATIONS
|
Registered Office /Corporate Office : |
No 5, Saraswathi Nivas, Main Channel Road, Saraswathipuram, Ulsoor,
Bengaluru- 560008, Karnataka, India |
|
Tel. No.: |
91-80-65359823/25542998/41132998 |
|
Mobile No.: |
91-9845026874 (Mr. Puthucode Vaiyanathan Venkiteswaran) 91-9449829441 (Krishnan Parasuraman) |
|
Fax No.: |
91-80-25511750 / 23588222 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Central Admin. And Commercial Service Department: |
Survey No. 128/1 and 128/2, Herohally Village, Vishwaneedam Post,
Magadi Main Road, Byadarahalli, Bengaluru – 560091, Karnataka, India |
|
Tel. No.: |
91-80-65359823/24/25 |
|
Fax No.: |
91-80-23588464 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Survey No. 2, Tavarekere Hobli, Marenahalli Village, Magadi Road,
Bengaluru South-562120, Karnataka, India |
|
Tel. No.: |
91-80-28434507/28434508/28430724/25 |
|
Fax No.: |
91-80-28430490 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No. M – 5, Additional Industrial Area, MIDC, Kundavali Village, Murbad
– 421401, Thane District, Maharashtra, India |
|
Tel. No.: |
91-2524-223618/223531 |
|
E-Mail : |
|
|
|
|
|
Branch Office 1 : |
#59A South End Park Near Gariahat Road, Kolkata – 700029, West Bengal, India |
|
|
|
|
Branch Office 2 : |
World Business House, Near Parimal Garden, Ellisbridge, Ahmedabad –
380006, Gujarat, India |
|
Tel. No.: |
91-79-26469248 |
|
Fax. No. |
91-79-26469250 |
|
|
|
|
Branch Offices : |
|
DIRECTORS
As on 31.03.2017
|
Name : |
Nedungat Sivasankaran Nair |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
B-1204, Chaitanya Towers, A. M. Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
26.06.1946 |
||||||||
|
Qualification : |
Graduate |
||||||||
|
Date of Appointment : |
30.09.2015 |
||||||||
|
DIN No.: |
00113219 |
||||||||
|
|
|
||||||||
|
Name : |
Mr. Sukumaran Parakkel |
||||||||
|
Designation : |
Whole Time Director |
||||||||
|
Address : |
Shantham 361/1036, 2nd Floor, MM Layout. Dr. Ambedkar College Road, RT Nagar. Bangalore – 560032, Karnataka, India |
||||||||
|
Date of Birth/Age : |
23.07.1957 |
||||||||
|
Qualification : |
B.E.(Civil) |
||||||||
|
PAN No.: |
AHWPS6115P |
||||||||
|
Date of Appointment : |
13.06.2007 |
||||||||
|
DIN No.: |
00352296 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Balasubramanian Vaidyanathan Puthucode |
||||||||
|
Designation : |
Managing Director |
||||||||
|
Address : |
46-4 Tridipa Ia Cross, Cambridge Layout, Ulsoor, Bangalore - 560008, Karnataka, India |
||||||||
|
Date of Birth/Age : |
10.05.1954 |
||||||||
|
Qualification : |
B.E.(Chemical) |
||||||||
|
Date of Appointment : |
01.04.2012 |
||||||||
|
DIN No.: |
00352321 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Puthucode Vaiyanathan Venkiteswaran |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
No.29, 1st A Cross, Cambridge Layout Extension, Bengaluru –
56008, Karnataka, India |
||||||||
|
Date of Birth/Age : |
15.05.1950 |
||||||||
|
Qualification : |
M.SC |
||||||||
|
Date of Appointment : |
13.06.2007 |
||||||||
|
Pan: |
AAQPV1539B |
||||||||
|
DIN No.: |
01352094 |
||||||||
|
|
|
||||||||
|
Name : |
Yasho Verdhan Verma |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
B-82, Sector-50, Noida - 201301, Uttar Pradesh, India |
||||||||
|
Date of Birth/Age : |
11.12.1957 |
||||||||
|
Qualification : |
Graduate |
||||||||
|
Date of Appointment : |
30.09.2015 |
||||||||
|
DIN No.: |
06389278 |
||||||||
|
|
|
||||||||
|
Name : |
Krishnan Parasuraman |
||||||||
|
Designation : |
Nominee Director |
||||||||
|
Address : |
No. 178/3, Plot New No. 20, Nehru Street, Madipakkam, Chennai – 600091, Tamilnadu, India |
||||||||
|
Date of Birth/Age : |
02.09.1944 |
||||||||
|
Date of Appointment : |
05.09.2017 |
||||||||
|
PAN No.: |
AACPP2743F |
||||||||
|
DIN No.: |
06809294 |
||||||||
KEY EXECUTIVES
|
Name : |
Manikandan Rajalingam |
|
Designation : |
Secretary |
|
Address : |
No.24, 1st Floor, Bhudtha Nilaya, Parappana Agrahara, Bengaluru - 560100, Karnataka, India |
|
Date of Birth |
25.05.1986 |
|
PAN No.: |
BHVPM1899J |
|
Date of Appointment : |
28.11.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
16.16 |
|
Promoter - Bodies
corporate |
0.11 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
24.26 |
|
Public - Bodies corporate |
4.31 |
|
Public – Others – Foreign Bodies Corporate |
55.16 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in the Manufacture of Cold Rooms, Cool Barns, Industrial Refrigeration, Clean rooms, Tele shelters and Dry Warehouse etc. (Registered Activity and also confirmed by management) |
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Products : |
|
||||
|
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|
||||
|
Brand Names : |
Not Divulged |
||||
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|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw material |
||||
|
Countries : |
China |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C and Cheque |
||||
|
|
|
||||
|
Purchasing : |
L/C and Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Retailers and End Users
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
No. of Employees : |
300 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Center, Anchorade II, 100/2, Richmond Road, Bengaluru-560025,
Karnataka, India |
|
Tel. No.: |
91-80-66276000 |
|
Fax No.: |
91-80-66276013 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACSD3771D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Entity in which KMP
exercises significant influence - : |
U29191KA1990PTC011008 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
INR 10/- each |
INR 140.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10457368 |
Equity Shares |
INR 10/- each |
INR 104.574 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees 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 |
104.574 |
104.574 |
104.574 |
|
(b) Reserves and Surplus |
386.364 |
313.772 |
252.425 |
|
(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) |
490.938 |
418.346 |
356.999 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
17.350 |
15.260 |
0.000 |
|
(c) Other long-term
liabilities |
23.682 |
21.500 |
18.176 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
41.032 |
36.760 |
18.176 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
69.410 |
89.678 |
|
(b) Trade
payables |
615.521 |
561.562 |
432.252 |
|
(c) Other
current liabilities |
234.514 |
156.465 |
136.024 |
|
(d) Short-term
provisions |
31.105 |
29.841 |
25.219 |
|
Total Current
Liabilities (4) |
881.140 |
817.278 |
683.173 |
|
|
|
|
|
|
TOTAL |
1413.110 |
1272.384 |
1058.348 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
239.488 |
258.378 |
280.192 |
|
(ii)
Intangible Assets |
1.071 |
0.253 |
0.436 |
|
(iii) Tangible assets
capital work-in-progress |
0.848 |
0.000 |
27.754 |
|
(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) |
0.000 |
0.000 |
1.280 |
|
(d)
Long-term loans and advances |
1.245 |
4.248 |
14.445 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
242.652 |
262.879 |
324.107 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
284.863 |
209.532 |
216.604 |
|
(c) Trade
receivables |
387.213 |
410.603 |
325.996 |
|
(d) Cash and
bank balances |
343.244 |
312.717 |
84.621 |
|
(e)
Short-term loans and advances |
154.049 |
75.564 |
105.931 |
|
(f) Other
current assets |
1.089 |
1.089 |
1.089 |
|
Total
Current Assets |
1170.458 |
1009.505 |
734.241 |
|
|
|
|
|
|
TOTAL |
1413.110 |
1272.384 |
1058.348 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2104.507 |
1813.041 |
1376.740 |
|
|
Other Income |
8.279 |
5.271 |
2.856 |
|
|
TOTAL |
2112.786 |
1818.312 |
1379.596 |
|
|
|
(Due to business growth) |
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1425.626 |
1247.074 |
966.168 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(28.528) |
(0.437) |
(19.591) |
|
|
Employee benefit expense |
188.874 |
154.565 |
138.670 |
|
|
CSR expenditure |
0.421 |
0.000 |
0.000 |
|
|
Other expenses |
378.246 |
280.740 |
231.131 |
|
|
TOTAL |
1964.639 |
1681.942 |
1316.378 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
148.147 |
136.370 |
63.218 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
6.993 |
9.402 |
9.191 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
141.154 |
126.968 |
54.027 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
26.785 |
26.605 |
31.975 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
114.369 |
100.363 |
22.052 |
|
|
|
|
|
|
|
Less |
TAX |
41.730 |
32.770 |
7.160 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
72.639 |
67.593 |
14.892 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
85.232 |
23.885 |
11.491 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
157.871 |
85.232 |
23.885 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
204.059 |
39.056 |
72.329 |
|
|
TOTAL EARNINGS |
204.059 |
39.056 |
72.329 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
64.664 |
57.447 |
56.929 |
|
|
TOTAL IMPORTS |
64.664 |
57.447 |
56.929 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
6.95 |
6.46 |
1.42 |
Expected Sales (2017-2018) : INR 2150.000 Million (Approximately)
The above information has been parted by Mr.
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 |
0.000 |
|
Net cash flows from (used in) operations |
148.513 |
238.763 |
(11.284) |
|
Net cash flows from (used in) operating activities |
103.818 |
226.050 |
(21.184) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
67.16 |
82.66 |
86.43 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
5.44 |
4.42 |
4.22 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
157.59 |
164.36 |
163.30 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.52 |
0.65 |
0.29 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.61 |
0.53 |
0.20 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.62 |
0.64 |
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.00 |
0.17 |
0.25 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
1.79 |
1.95 |
1.91 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.49 |
0.62 |
0.86 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
21.19 |
14.50 |
6.88 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
3.45 |
3.73 |
1.08 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
5.14 |
5.31 |
1.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
14.80 |
16.16 |
4.17 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.33 |
1.24 |
1.07 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.01 |
0.98 |
0.76 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.35 |
0.33 |
0.34 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.00 |
0.66 |
0.86 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.33 |
1.24 |
1.07 |
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 |
104.574 |
104.574 |
104.574 |
|
Reserves & Surplus |
252.425 |
313.772 |
386.364 |
|
Net
worth |
356.999 |
418.346 |
490.938 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
89.678 |
69.410 |
0.000 |
|
Total
borrowings |
89.678 |
69.410 |
0.000 |
|
Debt/Equity
ratio |
0.251 |
0.166 |
0.000 |
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 |
1376.740 |
1813.041 |
2104.507 |
|
|
|
31.691 |
16.076 |
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 |
1376.740 |
1813.041 |
2104.507 |
|
Profit/ (Loss) |
14.892 |
67.593 |
72.639 |
|
|
1.08
% |
3.73
% |
3.45
% |
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 |
Yes |
|
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 |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
YEAR IN RETROSPECT
The Company has achieved a Revenue turnover of INR 2112.700 Million for the year ended 31st March 2017 the revenue for the financial year 2016-17 grew 16% from the previous fiscal. T
he earnings before depreciation interest taxes and exceptional items increased by 8.6% from the previous year. The Company has reported profits amounting to INR 72.640 Million for the financial year as compared to profit of INR 67.590 Million in the previous year.
BUSINESS PROSPECTS
The board is confident of doing healthy business in the coming years. Aggressive marketing New products and geographies continued focus on Customer Satisfaction and Customer Service shall be highest priorities of your Company. Ministry of Food processing Govt of India floated EOI for 30 mega food parks and other schemes and have allocated in excess of INR 60000.000 Million. Objective of the scheme is to provide backward and forward linkages as well develop reliable and sustainable supply chain. GOI have initiated National Highway Development Program partnering with Indian railways to establish cold chain infrastructure. Indian railway is planning to invite private parties to run refrigerated container trains for transporting agricultural products across the country.
The company has closely monitoring and have already begged few of the mega food parks and have executed Food park projects. The Company is quite confident that the performance of the current year will very well surpass the previous year result.
Company has launched new products such as Combinest refrigerated transportation Vehicle (Chilkart) etc. which is expects to buildup demand in the market.
Particulars of Loans Guarantees or Investments
Loans Guarantees and investments covered under Section 186 of the Companies Act 2013 form part of the notes to the financial statements provided in this annual report.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B85314078 |
80013021 |
PUNJAB NATIONAL BANK |
08/12/2005 |
28/08/2013 |
- |
350000000.0 |
LARGE CORPORATE BRANCHNO.28, 2ND FLOOR, CENTENAY B'LDG, M. G. ROADBANGALOREKA560001IN |
|
2 |
B64650161 |
90201000 |
DEVELOPMENT CREDIT BANK LIMITED |
14/02/2005 |
24/12/2012 |
- |
90000000.0 |
M. G. ROAD BRANCHPRESTIGE MERIDIAN ANNEXE, NO.128 (31/1) M.G.ROADBANGALOREKA560001IN |
|
3 |
B28085561 |
10032960 |
The Hongkong and Shanghai Banking Corporation Limited |
10/01/2007 |
- |
02/12/2011 |
50000000.0 |
7 Mahatma Gandhi RoadBangalore - 560 001BangaloreKA560001IN |
|
4 |
A71137566 |
10092985 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD |
12/02/2008 |
- |
15/10/2009 |
70000000.0 |
NO.7, MG ROADBANGALOREBANGALOREKA560001IN |
|
5 |
A00635151 |
90198447 |
H.D.F.C. BANK LIMITED |
09/07/2004 |
- |
02/05/2006 |
75000000.0 |
M.G. ROAD BRANCHM.G. RAODBANGALOREKA560001IN |
|
6 |
Y10299714 |
90197815 |
THE DHANLAKSHMI BANK LTD. |
20/09/2000 |
15/02/2003 |
29/11/2004 |
34000000.0 |
NO.9; DICKENSON ROADBANGALOREKA560042IN |
|
7 |
Y10299269 |
90197370 |
ICICI BANKING CORPORATION LTD. |
29/05/1998 |
- |
27/12/2000 |
1875000.0 |
RAHEJA TOWERS; 11 FLOORM.G. RAODBANGALOREKA560001IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against company not acknowledged as debt |
86.199 |
86.199 |
|
Other money for which company is contingently liable |
101.843 |
137.585 |
|
Total |
188.042 |
223.784 |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 66.66 |
|
|
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHAL |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
KJL |
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 |
YES |
|
--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.