|
|
|
MIRA INFORM REPORT
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Report No. : |
507377 |
|
Report Date : |
04.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
PURE TONERS AND DEVELOPERS LIMITED (w.e.f. 04.12.2017) |
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Formerly Known
As : |
PURE TONERS AND DEVELOPERS PRIVATE LIMITED |
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Registered
Office : |
Plot No. C-1-237/2, 3 and 4 C-1/238/1, Por-Ramangamdi, GIDC, Por,
Vadodara – 391241, Gujarat |
|
Tel. No.: |
91- 265-2830413 / 2830464 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
09.08.2000 |
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Com. Reg. No.: |
04-038501 |
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Capital
Investment / Paid-up Capital : |
INR 100.000 Million |
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CIN No.: [Company Identification
No.] |
U24299GJ2000PLC038501 |
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IEC No.: |
3400002194 |
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TIN No.: |
24190200442 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCP0192P |
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GSTN : [Goods & Service Tax
Registration No.] |
24AACCP0192P1Z7 |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
The company is engaged in Manufacturing of Toners and
Power Production through Windmill. (Registered activity) |
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No. of Employees
: |
Information declined by the management |
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 |
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Maximum Credit Limit : |
USD 590000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2000. It is a manufacturer of
toner. For the financial year 2017, the company has achieved revenue growth
of 12.24% as compared to the previous year along with a decent profit margin
of 11.86%. The sound financial risk profile of the company is marked by adequate
net worth base along with strong debt protection metrics due to low debt
balance sheet profile. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. Note : The name of the company has changed from “Pure Toners and
Developers Private Limited” to “Pure Toners and Developers Limited” w.e.f. 4th
December 2017. |
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 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 DENIED BY
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-265-2636900)
91-265-2830413 (NUMBER IS NOT WORKING)
LOCATIONS
|
Registered Office/ Factory 1 : |
Plot No. C-1-237/2, 3 and 4 C-1/238/1, Por-Ramangamdi, GIDC, Por,
Vadodara – 391241, Gujarat, India |
|
Tel. No.: |
91- 265-2830413 / 2830464 |
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Fax No.: |
91-265-2830407 |
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E-Mail : |
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Website : |
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Area : |
2870 Sq. Ft |
|
Location : |
Owned |
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Locality : |
Industrial |
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Factory 2 : |
Survey No. 25/A, Paiki-2 Village Kashipura, AT and Post – Por, District
Vadodara-391243, Gujarat, India |
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Tel. No.: |
91-265-2636900 (Board Line) |
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Fax No.: |
91-265-2830407 |
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Area : |
87048 Sq. Ft |
|
Location : |
Owned |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Kiran Shantilal Sanghavi |
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Designation : |
Additional Director |
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Address : |
07, Vrindavan-II, Opposite Madhuvan Farm, Thaltej, Ahmedabad – 380059, Gujarat, India |
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Date of Appointment : |
09.12.2017 |
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DIN No.: |
00389771 |
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Name : |
Mr. Umeshkumar Balvantlal Desai |
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Designation : |
Managing director |
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Address : |
5, Avani Park, Opposite: Rajesh Tower, Near Hari Nagar,
Gotri Road, Vadodara- 390021, Gujarat, India |
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Date of Birth/Age : |
27.04.1960 |
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Date of Appointment : |
29.08.2002 |
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DIN No.: |
00921834 |
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Other Directorship:
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Name : |
Mr. Asitkumar Babubhai Choksi |
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Designation : |
Managing Director |
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Address : |
A-12, Kashiwishweshwar Township, Jetalpur Road,
Vadodara-390007, Gujarat, India |
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Date of Birth/Age : |
20.11.1967 |
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Date of Appointment : |
01.05.2001 |
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DIN No.: |
00921893 |
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Other Directorship:
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Name : |
Mr. Govind Dharamsi Ravaria |
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Designation : |
Managing Director |
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Address : |
3rd Floor, Sheth H Ful, 161/169 Bazar Gate, Fort, Mumbai-400001,
Maharashtra, India |
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Date of Birth/Age : |
01.07.1965 |
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Date of Appointment : |
09.08.2000 |
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DIN No.: |
01584761 |
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Name : |
Ms. Seema Gurusaranlal Saxena |
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Designation : |
Additional Director |
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Address : |
22, Satyam Bungalows, Hebatpur Road, Near Columbia Asia Hospital, Thaltej, Ahmedabad – 380059, Gujarat, India |
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Date of Appointment : |
09.12.2017 |
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DIN No.: |
07614119 |
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Other Directorship:
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Name : |
Mr. Sunil Oza Laxminarayan |
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Designation : |
Additional Director |
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Address : |
R.S.911/1 Bunglow No. 24 Jawadekar Eco Homes Yashwant Society, Ka Saba Bawad, Kolhapur – 416003, Maharashtra, India |
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Date of Appointment : |
09.12.2017 |
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DIN No.: |
08028076 |
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KEY EXECUTIVES
|
Name : |
Mr. Pravin Prajapati |
|
Designation : |
Chief Financial Officer |
|
Address : |
B-9, Tejas Avenue, Makarand Desai Road, Vadodara – 390015, Gujarat, India |
|
Date of Appointment : |
16.09.2017 |
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PAN No.: |
AFZPP2577D |
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Name : |
Kamal Ashwinbhai Lalani |
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Designation : |
Company Secretary |
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Address : |
C-41, Vrajbhoomi Society, Behind Yash Complex, Got Vadodara – 390021, Gujarat, India |
|
Date of Appointment : |
01.02.2018 |
|
PAN No.: |
ADCPL6095K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
SHAREHOLDER’S AND ALLOTTEES DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
64.00 |
|
Public – (Individual/ Hindu Undivided
Family – Indian) |
36.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in Manufacturing of Toners and Power
Production through Windmill. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 : |
Information declined by the management |
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Bankers : |
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Facilities : |
NOTE : LONG-TERM
BORROWINGS
The Term loan from Bank and working capital Joan is secured against first Charge lover the Fixed Assets, Inventories I receivables and other chargable current assets: collaterally secured by charge over the immovable properties situated at C-1/237/2,3 and C 1/238/1, Por-Ramangamdi, GIDC Por- Vadodara. SHORT-TERM
BORROWINGS Working Capital Loan from Bank is secured by hypothecation of inventories. book debts and other current assets |
|
Auditors : |
|
|
Name : |
Sanjay Soni and Associates Chartered Accountants |
|
Address : |
208, 2nd Floor, Tower-A, Kunj Plaza, Opposite Laxmivilas Palace, J N
Marg, Vadodara-390001, Gujarat, India |
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Tel. No.: |
91-265-2983872 |
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Mobile No.: |
91-9825483162 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AFMPS4399M |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Enterprises under common control and enterprises in which key
management personnel and their relatives are able to exercise significant
influence (Other related Parties) |
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CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000 Million |
|
|
|
|
|
After 27.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves &
Surplus |
197.511 |
137.332 |
107.648 |
|
(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) |
207.511 |
147.332 |
117.648 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
39.257 |
83.940 |
29.396 |
|
(b) Deferred tax
liabilities (Net) |
41.794 |
30.047 |
6.803 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
81.051 |
113.987 |
36.199 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
43.074 |
47.383 |
27.174 |
|
(b) Trade payables |
78.842 |
60.727 |
54.990 |
|
(c) Other current
liabilities |
41.194 |
32.086 |
7.930 |
|
(d) Short-term provisions |
5.825 |
6.712 |
13.250 |
|
Total Current Liabilities
(4) |
168.935 |
146.908 |
103.344 |
|
|
|
|
|
|
TOTAL |
457.497 |
408.227 |
257.191 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
262.264 |
251.197 |
116.385 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.270 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.987 |
3.501 |
1.782 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
263.521 |
254.698 |
118.167 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
94.309 |
83.581 |
77.318 |
|
(c) Trade receivables |
81.952 |
57.676 |
51.437 |
|
(d) Cash and cash
equivalents |
10.694 |
4.480 |
6.347 |
|
(e) Short-term loans and
advances |
6.978 |
7.488 |
3.611 |
|
(f) Other current assets |
0.043 |
0.304 |
0.311 |
|
Total Current Assets |
193.976 |
153.529 |
139.024 |
|
|
|
|
|
|
TOTAL |
457.497 |
408.227 |
257.191 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
532.580 |
474.481 |
386.601 |
|
|
Other Income |
25.471 |
3.218 |
2.725 |
|
|
TOTAL |
558.051 |
477.699 |
389.326 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
289.366 |
247.662 |
223.509 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(7.631) |
0.464 |
(16.719) |
|
|
Manufacturing and
operative |
77.101 |
64.153 |
47.015 |
|
|
Employees benefits
expense |
56.916 |
44.539 |
36.287 |
|
|
Other expenses |
13.554 |
17.853 |
10.460 |
|
|
TOTAL |
429.306 |
374.671 |
300.552 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
128.745 |
103.028 |
88.774 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
17.015 |
11.133 |
10.652 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
111.730 |
91.895 |
78.122 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
17.446 |
10.165 |
8.768 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
94.284 |
81.730 |
69.354 |
|
|
|
|
|
|
|
Less |
TAX |
31.096 |
40.010 |
23.762 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
63.188 |
41.720 |
45.592 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
115.310 |
89.656 |
57.614 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
6.030 |
4.030 |
4.550 |
|
|
Proposed Dividend |
2.500 |
0.000 |
7.500 |
|
|
Interim Dividend |
0.000 |
10.000 |
0.000 |
|
|
Corporate Dividend Tax |
0.509 |
2.036 |
1.500 |
|
|
Total (M) |
9.039 |
16.066 |
13.550 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
169.459 |
115.310 |
89.656 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
125.085 |
117.671 |
129.681 |
|
|
TOTAL EARNINGS |
125.085 |
117.671 |
129.681 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
199.707 |
172.447 |
|
|
TOTAL IMPORTS |
0.000 |
199.707 |
172.447 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
63.00 |
42.00 |
46.00 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
36.309 |
30.038 |
6.174 |
|
Cash generated from operations |
126.371 |
113.945 |
NA |
|
Net cash flow from operating activity |
103.124 |
99.642 |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
7.33 |
44.37 |
48.56 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
49.80 |
8.23 |
7.52 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
99.45 |
89.50 |
89.80 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.57 |
1.23 |
1.15 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.49 |
0.41 |
0.76 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.53 |
0.64 |
0.54 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.57 |
1.10 |
0.53 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.81 |
1.00 |
0.88 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.27 |
1.70 |
0.99 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
7.57 |
9.25 |
8.33 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
11.86 |
8.79 |
11.79 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
13.81 |
10.22 |
17.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
30.45 |
28.32 |
38.75 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.15 |
1.05 |
1.35 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.66 |
0.48 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.45 |
0.36 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
11.86 |
16.14 |
6.27 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.15 |
1.05 |
1.35 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
107.648 |
137.332 |
197.511 |
|
Net
worth |
117.648 |
147.332 |
207.511 |
|
|
|
|
|
|
Long Term borrowings |
29.396 |
83.940 |
39.257 |
|
Short Term borrowings |
27.174 |
47.383 |
43.074 |
|
Current Maturities of Long term debt |
6.174 |
30.038 |
36.309 |
|
Total
borrowings |
62.744 |
161.361 |
118.640 |
|
Debt/Equity
ratio |
0.533 |
1.095 |
0.572 |
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
|
386.601 |
474.481 |
532.580 |
|
|
|
22.731 |
12.245 |
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
|
386.601 |
474.481 |
532.580 |
|
Profit |
45.592 |
41.720 |
63.188 |
|
|
11.79% |
8.79% |
11.86% |
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 |
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) |
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 |
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 |
CORPORATE INFORMATION
:
The company is a Private Company domiciled in India and Incorporated under the provisions of the Companies Act 1956. The company is engaged in manufacturing of Toners and power production through Windmill.
OPERATING RESULTS :
During the year, the turnover of the company increased from INR 477.699 Million to INR 558.051 Million. (including income from power generation); an increase of 17.5% when compared with the previous accounting year.
The profit before tax increased to INR 94.284 Million against a profit of INR 81.730 Million resulting in an increase of 24.95% Net profit after tax increased from INR 41.720 Million to INR 63.188 Million; an increase of 51.46%.
PROJECTS CARRIED OUT
DURING F.Y. 2016·17:
Wind Mill Project:
The Company is proud to announce that it has purchased a 2.1 MW the wind mill is operating satisfactorily since
March-2016 at Matalpar, Bhavnagar, Gujarat.
United Arab Emirates
Project at RAK:
This Project has been further postponed as the Entrepreneur in United Arab Emirates who was to bring in required inputs has been delayed in doing so.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
0.000 |
19.005 |
|
|
|
|
|
Total |
0.000 |
19.005 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C75153668 |
10390946 |
HDFC
BANK LIMITED |
30/11/2012 |
31/12/2015 |
- |
210000000.0 |
HDFC
Bank House, senapati Bapat Marg, Lower Parel West, Mumbai – 400013,
Maharashtra, India |
|
2 |
B65756686 |
10040029 |
UNION
BANK OF INDIA |
20/02/2007 |
- |
04/01/2013 |
2500000.0 |
Sayajiganj
Branch, Union Bank Bhavan, Sayaji Ganj, Kalaghoda, Vadodara – 390001,
Gujarat, India |
|
3 |
B65759250 |
80025135 |
UNION
BANK OF INDIA |
04/04/2002 |
28/10/2010 |
04/01/2013 |
48462000.0 |
Sayajigunj
Branch, Neat Kalaghoda, Vadodara – 390005, Gujarat, India |
|
4 |
B65759573 |
80025136 |
UNION
BANK OF INDIA |
05/04/2002 |
14/09/2012 |
04/01/2013 |
56250000.0 |
Sayajigunj
Branch, Neat Kalaghoda, Vadodara – 390005, Gujarat, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Financial Guarantee |
11.429 |
5.384 |
|
Letter of credits outstanding |
18.984 |
3.482 |
|
Total |
30.413 |
8.866 |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
· Leasehold Improvements
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 66.66 |
|
|
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
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 |
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.