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MIRA INFORM REPORT
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Report No. : |
506353 |
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Report Date : |
04.05.2018 |
IDENTIFICATION DETAILS
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Name : |
PHOOLTAS TRANSRAIL LIMITED (w.e.f. 18.03.2016) |
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Formerly Known
As : |
PHOOLTAS TRANSRAIL PRIVATE LIMITED (w.e.f. 11.02.2016) PHOOLTAS HARSCO RAIL SOLUTIONS PRIVATE LIMITED (w.e.f. 02.02.2010) PHOOLTAS TAMPER PRIVATE LIMITED |
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Registered
Office : |
Layak Enclave (East), Sahay Nagar, Phoolwari Sharif, Patna – 801506,
Bihar |
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Tel. No.: |
91-612-2534514/ 2222876/ 2530065 / 2520277. |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
24.09.1987 |
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Com. Reg. No.: |
03-002744 |
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Capital
Investment / Paid-up Capital : |
INR 2.350 Million |
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CIN No.: [Company Identification
No.] |
U00371BR1987PLC002744 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No.: |
10157261097 |
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PAN No.: [Permanent Account No.] |
AABCP5818M |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
10AABCP5818M1ZG |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing and Trading of railway track
maintenance equipments, its accessories and related services there off.
(Registered Activity) |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Exists |
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Comments : |
Subject was incorporated in the year 1987. It is a subsidiary of Phooltas Infrarail Private Liimted. Management has not filed its financial record with government department for the year 2017 and same are not available from any other sources. As per the financial of 2016, the company has reported a decline in its revenue as compared to the previous year but has managed to maintain an average net profit margin of 2.88%. The company has adequate net worth base along with low debt balance sheet profile. The rating is constrained on account of SPL group's decision to de-merge railways and road division in separate companies [road business in Phooltas and railways business in Speedcrafts Limited (SPL; part of the SPL group)]. The rating downgrade reflects overdrawals of more than 30 days in cash credit facility because of weak liquidity. Business is active. Payment seems to be slow and delayed. In view of aforesaid, the company can be considered for business dealings on safe and secured trade terms and condition. |
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) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long term loans : D |
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Rating Explanation |
Lowest-credit-quality and very low prospects of recovery |
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Date |
07.09.2017 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term loans : D |
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Rating Explanation |
Lowest-credit-quality and very low prospects of recovery |
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Date |
07.09.2017 |
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 04.05.2018
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.: 91-612-2534514/ 91-2227888024)
LOCATIONS
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Registered Office/
Corporate Office/ Factory 1 : |
Layak Enclave (East), Sahay Nagar, Phoolwari Sharif, Patna – 801506,
Bihar, India |
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Tel. No.: |
91-612-2534514/ 2222876/ 2530065 / 2520277. |
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Fax No.: |
91-612-2227493 |
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E-Mail : |
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Website : |
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Factory 2 : |
Plot No.1A, Sector-7, IIE (SIDCUL), Hardwar, Uttrakhand, India |
DIRECTORS
As on 31.03.2017
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Name : |
Mr. Rajendra Kumar Agarwala |
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Designation : |
Director |
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Address : |
Layak Bhawan Boring Canal Road, Patna-800001, Bihar, India |
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Date of Birth/Age : |
18.10.1954 |
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Date of Appointment : |
24.09.1987 |
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DIN No.: |
00016621 |
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Name : |
Mr. Rohitashwaa Kumar Agarwala |
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Designation : |
Director |
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Address : |
Layak Bhawan Boring Canal Road, Patna-800001, Bihar, India |
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Date of Appointment : |
03.02.2016 |
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DIN No.: |
00016761 |
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Name : |
Mr. Ritdhvaj Agarwala |
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Designation : |
Director |
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Address : |
Layak Bhawan Boring Canal Road, Patna-800001, Bihar, India |
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Date of Birth/Age : |
11.02.1988 |
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Date of Appointment : |
03.10.2013 |
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DIN No.: |
06618648 |
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MAJOR SHAREHOLDERS
As on 31.03.2016
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Names of Shareholders |
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No. of Shares |
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Satyandra Kumar Agarwala |
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1327 |
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Rajendra Kumar Agarwala |
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1327 |
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Shushila Dev |
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1461 |
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Mudit Agarwala |
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1200 |
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Sunita Agarwala |
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1200 |
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Shashank Agarwala |
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1150 |
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Rohitashwaa Kumar Agarwala |
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1200 |
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Kavita Agarwala |
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25 |
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Satyandra Kumar Agarwala HUF |
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40 |
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Rajendra Kumar Agarwala HUF |
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40 |
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Shashank Agarwala HUF |
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25 |
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Satyandra Kumar Agarwala and Sons |
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40 |
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Rajendra Kumar Agarwala and Sons |
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40 |
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Phoolchand Satyandra Kumar HUF |
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50 |
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Phoolchand Agarwala Benefit Fund |
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5 |
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Speedcrafts Limited |
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270 |
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Phooltas Infrarail Private Limited |
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14100 |
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Total |
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23500 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
38.85 |
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Promoters (Body corporate) |
61.15 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Trading of railway track
maintenance equipments, its accessories and related services there off.
(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
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
P. Agrawal and Company Chartered Accountants |
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Address : |
CH-1, Road No.-26, S.K. Nagar, Patna – 800001, Bihar, India |
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Income-tax
PAN of auditor or auditor's firm : |
AADFP3769N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company (As on 31.03.2016) : |
Phooltas Infrarail Private Limited CIN No.: U34100HR2015PTC057029 |
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Associates (As on 31.03.2016) : |
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Enterprise in which relative of KMP have substantial interest (As on
31.03.2016) : |
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Other related parties (As on 31.03.2016) : |
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CAPITAL STRUCTURE
As on 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
300000 |
Equity Shares |
INR 100/- each |
INR 30.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
23500 |
Equity Shares |
INR 100/- each |
INR 2.350 Million |
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FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
2.350 |
2.350 |
2.350 |
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(b) Reserves & Surplus |
113.226 |
97.680 |
81.399 |
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(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
115.576 |
100.030 |
83.749 |
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(3) Non-Current Liabilities |
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(a) long-term borrowings |
20.667 |
16.751 |
25.537 |
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(b) Deferred tax liabilities
(Net) |
0.382 |
0.347 |
0.963 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
21.049 |
17.098 |
26.500 |
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(4) Current Liabilities |
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(a) Short term borrowings |
35.346 |
44.870 |
39.922 |
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(b) Trade payables |
251.920 |
337.032 |
183.474 |
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(c) Other current liabilities |
82.109 |
52.135 |
13.903 |
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(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Current Liabilities (4) |
369.375 |
434.037 |
237.299 |
|
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|
|
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TOTAL |
506.000 |
551.165 |
347.548 |
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II.
ASSETS |
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(1) Non-current assets |
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|
|
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(a) Fixed Assets |
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|
|
|
(i) Tangible assets |
9.131 |
7.355 |
9.977 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.381 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
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Total
Non-Current Assets |
13.512 |
7.355 |
9.977 |
|
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|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
90.976 |
84.287 |
79.324 |
|
(c) Trade receivables |
232.319 |
318.202 |
144.128 |
|
(d) Cash and cash equivalents |
71.920 |
71.975 |
61.658 |
|
(e) Short-term loans and
advances |
90.775 |
59.489 |
41.594 |
|
(f) Other current assets |
6.498 |
9.857 |
10.867 |
|
Total
Current Assets |
492.488 |
543.810 |
337.571 |
|
|
|
|
|
|
TOTAL |
506.000 |
551.165 |
347.548 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
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|
|
|
Income |
539.182 |
731.700 |
599.740 |
|
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Other Income |
19.695 |
13.057 |
10.915 |
|
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TOTAL
|
558.877 |
744.757 |
610.655 |
|
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|
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Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
39.724 |
81.414 |
95.342 |
|
|
Purchases of Stock-in-Trade |
319.105 |
433.337 |
403.953 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(14.458) |
2.152 |
(11.367) |
|
|
Employees benefits expense |
25.886 |
19.652 |
10.533 |
|
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Other expenses |
148.904 |
159.481 |
74.987 |
|
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TOTAL |
519.161 |
696.036 |
573.448 |
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PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
39.716 |
48.721 |
37.207 |
|
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|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
14.450 |
21.069 |
17.332 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
25.266 |
27.652 |
19.875 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
2.031 |
3.552 |
1.910 |
|
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|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
23.235 |
24.100 |
17.965 |
|
|
|
|
|
|
|
Less |
TAX |
7.689 |
7.819 |
5.828 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
15.546 |
16.281 |
12.137 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Exports Sales |
0.000 |
0.000 |
44.266 |
|
|
TOTAL
EARNINGS |
0.000 |
0.000 |
44.266 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Stores spares parts and
components |
10.521 |
8.695 |
14.563 |
|
|
TOTAL
IMPORTS |
10.521 |
8.695 |
14.563 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
662.00 |
693.00 |
516.00 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.587 |
0.835 |
0.673 |
|
Cash generated from operations |
27.002 |
37.290 |
34.512 |
|
Net cash flows from (used in) operating activities |
21.456 |
29.889 |
27.781 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
157.27 |
158.73 |
87.72 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.32 |
2.30 |
4.16 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
256.25 |
238.98 |
134.13 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.44 |
0.58 |
0.47 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
4.35 |
6.62 |
3.73 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.77 |
0.82 |
0.76 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.49 |
0.62 |
0.79 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
3.20 |
4.34 |
2.83 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.08 |
0.07 |
0.12 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.75 |
2.31 |
2.15 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.88 |
2.23 |
2.02 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.07 |
2.95 |
3.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
13.45 |
16.28 |
14.49 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.33 |
1.25 |
1.42 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.09 |
1.06 |
1.09 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.23 |
0.18 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
24.09 |
26.58 |
28.14 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.33 |
1.25 |
1.42 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
2.350 |
2.350 |
2.350 |
|
Reserves & Surplus |
81.399 |
97.680 |
113.226 |
|
Net
worth |
83.749 |
100.030 |
115.576 |
|
|
|
|
|
|
long-term borrowings |
25.537 |
16.751 |
20.667 |
|
Short term borrowings |
39.922 |
44.870 |
35.346 |
|
|
0.673 |
0.835 |
0.587 |
|
Total
borrowings |
66.132 |
62.456 |
56.600 |
|
Debt/Equity
ratio |
0.790 |
0.624 |
0.490 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
599.740 |
731.700 |
539.182 |
|
|
|
22.003 |
(26.311) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
599.740 |
731.700 |
539.182 |
|
Profit |
12.137 |
16.281 |
15.546 |
|
|
2.02% |
2.23% |
2.88% |
LEGAL
CASES
HIGH COURT
|
INTERNATIONAL CARGO TERMINALS AND RAIL INFRASTRUCTURE
PRIVATE LIMITED Vs. PHOOLTAS TRANSRAIL LIMITED |
|
high court-Delhi |
|
Case no:ARB.P. 209/2017 |
|
Case status:Pending |
|
Judge:HON BLE MR. JUSTICE NAVIN CHAWLA |
|
Date:2017-11-28 |
HIGH COURT
|
INTERNATIONAL CARGO TERMINALS AND RAIL INFRASTRUCTURE
PRIVATE LIMITED Vs. PHOOLTAS TRANSRAIL LIMITED |
|
high court-Delhi |
|
Case no:ARB.P. 209/2017 I.A. 3573/2017 |
|
Case status:Pending |
|
Judge:HON BLE DR. JUSTICE S. MURALIDHAR |
|
Date:2017-03-21 |
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 |
No |
|
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 |
No |
|
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 |
UNSECURED LOAN
|
PARTICULAR |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Other Loans |
|
|
|
From Directors |
7.975 |
7.719 |
|
From Body Corporates |
12.593 |
8.678 |
|
Total |
20.568 |
16.397 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G41155987 |
100089979 |
HDFC BANK LIMITED |
28/02/2017 |
- |
- |
2500000.0 |
HDFC Bank House,Senapati Bapat Marg, Lower Parel WestMumbaiMH400013IN |
|
2 |
G18380600 |
100056960 |
HDFC BANK LIMITED |
30/07/2016 |
- |
- |
610000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
C06691778 |
10503091 |
State Bank of India |
09/04/2014 |
- |
- |
690000.0 |
SME BRANCHPATLIPUTRA COLONYPATNABR800013IN |
|
4 |
C00639559 |
10011890 |
State Bank of India |
20/07/2006 |
17/02/2014 |
- |
605000000.0 |
SME BranchPatliputraPatnaBR800013IN |
|
5 |
B98926181 |
10252159 |
IDBI Bank Limited |
29/10/2010 |
- |
06/03/2014 |
540000.0 |
IDBI TOWERWTC COMPLEXCUFFE PARADEMUMBAIMH400005IN |
|
6 |
A54310255 |
90263546 |
CENTRAL BANK OF INDIA |
24/09/1997 |
22/10/2003 |
19/12/2008 |
3600000.0 |
NEW DAKBUNGLOW ROADPATNABRIN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Bank Guarantees |
451.258 |
514.690 |
|
Corporate guarantee given from loan taken by associate company
Speedcrafts Limited |
|
|
|
From SBI (Amounts of guarantee) |
408.900 |
529.000 |
|
Total |
860.158 |
1043.690 |
FIXED ASSETS
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicles
- Office
Equipments
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 |
|
UK Pound |
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
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 |
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.
·