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|
MIRA INFORM REPORT
|
Report No. : |
506956 |
|
Report Date : |
04.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
TGV SRAAC LIMITED |
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|
|
|
Formerly Known
As : |
SREE RAYALASEEMA ALKALIES AND ALLIED CHEMICALS LIMITED |
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Registered
Office : |
Gondiparla Kurnool – 518004 Andhra Pradesh |
|
Tel. No.: |
91-8518-280006/7/8 |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
24.06.1981 |
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|
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Com. Reg. No.: |
01-003077 |
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Capital
Investment / Paid-up Capital : |
INR 1061.504 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24110AP1981PLC003077 |
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|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTIN : [Goods & Service Tax Registration No.] |
Not Divulged |
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TIN No : |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in Caustic Soda
Lye, Caustic Potash Lye / Flakes and Soap Noodles (Registered Activity) |
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|
|
|
No. of Employees
: |
859 (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 |
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Maximum Credit Limit : |
USD 10208000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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
|
Name : |
Mr. Sekhar |
|
Designation : |
General Manager |
|
Contact No.: |
91-9840062461 |
|
Date : |
28.04.2018 |
Management non-cooperative (Tel No.:91-8518-280006/289600)
LOCATIONS
|
Registered Office / Corporate Office 1/ Factory : |
Gondiparla, |
|
Tel. No.: |
91-8518-280006/7/8/ 289600 |
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Fax No.: |
91-8518-280098/ 280161 |
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E-Mail : |
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|
Website : |
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Corporate Office 2: |
40-304, 2nd Floor, K J. Complex, Bhagya Nagar,
Kurnool-518004, Andhra Pradesh, India |
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Tel. No.: |
91-8518-289602 / 603/ 221933/ 221939 |
|
Fax No.: |
91-8518-289602 /222745/ 226973/ 222745 |
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|
|
|
Administrative office : |
TGV Mansions, II Floor, Opposite Institute of Engineers,
6-2-1012, Khairatabad, |
|
Tel. No.: |
91-40-3313860 |
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Fax No.: |
91-40-3313875 |
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|
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|
Bellary Power Plant : |
P.D. Halli (Post), T. Budehal Village, Bellary – 583138, Karnataka, Inida |
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|
Branch Office: |
New No.100, (Old No. 74), 1st Floor, Greenways
Road, Extension, R.A. Puram, Chennai – 600028, Tamilnadu, India |
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|
Branches: |
Also
Located At
|
DIRECTORS
As on 31.03.2018
|
Name : |
Karunakar Rao Kamisetty |
|
Designation : |
Whole Time Director |
|
Address : |
D. No. 45-26-B14, G -1, Sai Padmaja Enclave Venkatramana Colony, Main Road, Ashok Nagar, Kurnool-518005, Andhra Pradesh, India |
|
Date of Birth : |
14.06.1950 |
|
Qualifications : |
B.Com./ ACA |
|
Date of Appointment : |
07.08.2010 |
|
DIN No.: |
02031367 |
|
|
|
|
Name : |
Mr. Jesvanth Reddy Nalla |
|
Designation : |
Whole Time Director |
|
Address : |
H. No. 51-971-B-2-2-D, Municipal Employees Colony Near Water Works, Kurnool-518003, Andhra Pradesh, India |
|
Date of Birth : |
11.06.1954 |
|
Qualifications : |
B.E (Mech) |
|
Date of Appointment : |
07.08.2010 |
|
DIN No.: |
03074131 |
|
|
|
|
Name : |
Mr. Tumbalam Gooty Venkatesh |
|
Designation : |
Director |
|
Address : |
43-262,Sankalbagh N R Pet, Kurnool -518004, Andhra Pradesh, India |
|
Date of Appointment : |
26.05.2014 |
|
DIN No.: |
00108120 |
|
|
|
|
Name : |
Mr. Krishna Murthy Gouraswamy |
|
Designation : |
Director |
|
Address : |
Maaillu, No 3058,17th, Cross 9th Main, BSK Second Stage, Bangalore-560070, Karnataka, India |
|
Date of Appointment : |
30.11.1995 |
|
DIN No.: |
00134828 |
|
|
|
|
Name : |
Mr. Pudugramam Neelakantan Vedanarayanan |
|
Designation : |
Director |
|
Address : |
No.3, First Avenue, Indra Nagar, Adyar, Chennai-600020, Tamilnadu, India |
|
Date of Appointment : |
01.04.1994 |
|
DIN No.: |
00982697 |
|
|
|
|
Name : |
Mr. Gopal Krishan |
|
Designation : |
Director |
|
Address : |
101, Shree Radhe Shyam Flats, Gokhale Colony, Dinesh Mill Road, Akota Vadodara-390021,Gujarat, India |
|
Date of Appointment : |
07.11.2014 |
|
DIN No.: |
05342348 |
|
|
|
|
Name : |
Vobugari Surekha |
|
Designation : |
Director |
|
Address : |
6-2-695, Flat No.206, II Floor, Bhawish Enclave Khairatabad, Hyderabad 500004, Telangana, India |
|
Date of Appointment : |
25.09.2014 |
|
DIN No.: |
06953161 |
|
|
|
|
Name : |
Mr. Nagabhushanam Jagini |
|
Designation : |
Director |
|
Address : |
8-3-236/2/3, Block -A, Dream Homes Harmoni Apartment, Yousufguda, Hyderabad-500038, Telangana, India |
|
Date of Appointment : |
10.07.2015 |
|
DIN No.: |
07217668 |
|
|
|
|
Name : |
Mora Asha Reddy |
|
Designation : |
Director |
|
Address : |
D.No.12-2-823/A/37, Santosh Nagar Colony, Mehdipatnam, Hyderabad-500028, Telangana, India |
|
Date of Appointment : |
29.01.2016 |
|
DIN No.: |
07328122 |
|
|
|
|
Name : |
Badri Srinivasa Rao |
|
Designation : |
Nominee Director |
|
Address : |
Flat No- 37/503, Nri Complex, Seawoods Estate, Nerul, Navi Mumbai-400706, Maharashtra, India |
|
Date of Appointment : |
07.11.2014 |
|
DIN No.: |
02556029 |
|
Name : |
Mr. Subhasish Roy |
|
Designation : |
Chairman |
|
Address : |
Fsq2, 2-53/2, Jnibf Gachibowli, Near Iiit Hyderabad - 500032, Telangana, India |
|
Date of Appointment : |
10.12.2016 |
|
DIN No : |
07677118 |
KEY EXECUTIVES
|
Name : |
Mr. Radhakrishna V Murthy |
|
Designation : |
Company Secretary |
|
Address : |
1-3-183/40/51/1/A, SBI Colony, Gandhi Nagar, Hyderabad-500080, Telangana, India |
|
Date of Appointment : |
17.10.2002 |
|
PAN No.: |
ABHPV6934G |
|
|
|
|
Name : |
Mr. Rajesh Khanna Chettay |
|
Designation : |
Chief Finance Officer |
|
Address : |
Flat No.310, S.V. Paradise, D.No.40-787-6-1F, Dharmapet, Kurnoo- 518004, Andra Pradesh, India |
|
Date of Appointment : |
26.05.2014 |
|
PAN No.: |
AAJPC5184E |
|
Name : |
T.G. Venkatesh |
|
Designation : |
Chairman |
MAJOR SHAREHOLDERS
As on 31.03.2018
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter & Promoter Group |
52383490 |
57.05 |
|
|
(B) Public |
39432628 |
42.95 |
|
|
Grand Total |
91816118 |
100.00 |
STATEMENT
SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
862137 |
0.94 |
|
|
T G VENKATESH |
303848 |
0.33 |
|
|
T G RAJYALAKSHMI |
322384 |
0.35 |
|
|
T G BHARATH |
129744 |
0.14 |
|
|
JYOTHSNA S MYSORE |
13361 |
0.01 |
|
|
BODA MOURYA |
92800 |
0.10 |
|
|
Any Other (specify) |
51521353 |
56.11 |
|
|
SREE RAYALASEEMA HI-STRENGTH HYPO LTD |
20544496 |
22.38 |
|
|
TGV PROJECTS AND INVESTMENTS PVT LTD |
11694248 |
12.74 |
|
|
BRILLIANT INDUSTRIES PRIVATE LTD |
16327313 |
17.78 |
|
|
SREE RAYALASEEMA DUTCH KASSENBOUW PVT LTD |
1881109 |
2.05 |
|
|
GOWRI GOPAL HOSPITALS PVT LTD |
1005375 |
1.09 |
|
|
SREE RAYALASEEMA GALAXY PROJECTS PVT LTD |
54662 |
0.06 |
|
|
TGV SECURITIES PRIVATE LIMITED |
14150 |
0.02 |
|
|
Sub Total A1 |
52383490 |
57.05 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
52383490 |
57.05 |
STATEMENT
SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
B1) Institutions |
0.00 |
|
|
Mutual Funds/ |
17887 |
0.02 |
|
Financial Institutions/ Banks |
850 |
0.00 |
|
Insurance Companies |
563985 |
0.61 |
|
Sub Total B1 |
582722 |
0.63 |
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
|
|
B3) Non-Institutions |
0.00 |
|
|
Individual share capital upto INR 0.200 Million |
20977902 |
22.85 |
|
Individual share capital in excess ofINR 0.200 Million |
11946135 |
13.01 |
|
Any Other (specify) |
5925869 |
6.45 |
|
Sub Total B3 |
38849906 |
42.31 |
|
B=B1+B2+B3 |
39432628 |
42.95 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Caustic Soda
Lye, Caustic Potash Lye / Flakes and Soap Noodles (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
|
Suppliers : |
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Customers : |
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No. of Employees : |
859 (Approximately) |
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Bankers : |
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Facilities : |
|
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Auditors : |
|
|
Name : |
Brahmayya and Company Chartered Accountants |
|
Address : |
21 / 142 - 6, S. K. D. Colony Extension, Adoni - 518301, Andhra Pradesh, India |
|
Tel No.: |
91-8512-253447, 222377 |
|
Fax No.: |
91-8512-222377 |
|
Email: |
|
|
|
|
|
Secretarial Auditors: |
|
|
Name : |
N. Rama Swamy |
|
Address : |
Flat No. 101C, Shourya Apartment, 3-6-159, Urdu Hali Lane, Himayath Nagar, Hyderabad-500029, Telangana, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
Note: Associate companies by virtue of shareholding |
CAPITAL STRUCTURE
After on
27.09.2017
Authorised Capital : INR
1140.000 Million
Issued Capital & Subscribed & Paid-up Capital : INR 1106.984 Million
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000000 |
Equity Shares |
INR 10/- each |
INR 950.000 Million |
|
19000000 |
Cumulative Redeemable Preference Shares |
INR 10/- each |
INR 190.000 Million |
|
|
Total |
|
INR 1140.000
Million |
Issued Capital & Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
87225313 |
Equity Shares |
INR 10/- each |
INR 872.253 Million |
|
18882332 |
Cumulative Redeemable Preference Shares |
INR 10/- each |
INR 188.823 Million |
|
180086 |
Forefited Shares |
|
INR 0.428 Million |
|
|
Total |
|
INR 1061.504
Million |
Reconciliation of
number of shares outstanding
|
Particulars |
Preference Shares |
Equity Shares |
|
At the beginning of the year |
18882332 |
82864048 |
|
Add: Issued during the year |
-- |
4361265 |
|
At the end of the
year |
18882332 |
87225313 |
List of shareholders
holding more than 5% shares
|
Equity Shares |
No of Share |
% |
Preference Shares |
No of share |
% |
|
Sree Rayalaseema Hi-Strength Hypo Limited |
20544496 |
23.55 |
Sree Rayalaseema Hi-Strength Hypo Limited |
5906504 |
31.28 |
|
TGV Projects & Investments Private Limited |
11694248 |
13.41 |
IDBI Bank Limited |
1807959 |
9.57 |
|
Brilliant Industries Private Limited |
11736508 |
13.46 |
|
|
|
- The Company has no Subsidaries/ Associates and has no Holding Company.
- Out of Equity shares issued, subscribed and fully paid up 2,86,10,955 No. of equity shares of INR 10/-each alloted on preferential allotment to Financial Institutions IDBI/IFCI by convertion of 15% Rupee/F.C loans and Debentures on 08.03.2005.The company has alloted 1,45,80,000 No of equity shares of INR10/- each on 08.03.2005 and 54,20,000 on 25.04.2006 to promotors group on preferential allotment by conversion of 2,00,00,000 fully paid share warrants issued on 08.3.2005.
The Company has alloted 39,36,042 No of equity shares of INR 10/- each on 05.04.2014 and 37,39,240 No of Equity shares on 27.04.2013 and 35,52,278 No of Equity Share on 10.12.2012 to promotors group on preferential allotment by conversion of 1,12,27,560 ShareWarrants allotted on 19.11.2012.
The Company has alloted 41,43,202 No of equity share of INR 10/-each on 29.01.2016 and 43,61,265 on 27.01.2017 at a premium of INR 7.02 to promotors group on preferential allotment by conversion out of 1,30,95,272 share warrants alloted on 13.01.2016
- Cumulative Redeemable Preference shares issued, subscribed and fully paid up 1,88,82,332 of INR 10/- each having a coupon rate of 0.01% from April,2002 were alloted on sub-division and consolidation of 50% holding of equity shares and are redeemable after 15 year in 4 quarterly instalments commencing from 1.04.2018.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1061.504 |
1017.892 |
976.460 |
|
(b) Reserves & Surplus |
2491.843 |
2266.865 |
1993.930 |
|
(c) Money
received against share warrants |
19.534 |
90.772 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds |
3572.881 |
3375.529 |
2970.390 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1417.481 |
1600.493 |
979.375 |
|
(b) Deferred tax liabilities (Net) |
787.219 |
695.933 |
687.917 |
|
(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 |
2204.700 |
2296.426 |
1667.292 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2575.732 |
2246.743 |
1752.992 |
|
(b) Trade
payables |
867.061 |
653.765 |
560.643 |
|
(c) Other
current liabilities |
1439.116 |
1070.351 |
1158.163 |
|
(d) Short-term
provisions |
84.673 |
72.854 |
72.121 |
|
Total Current
Liabilities |
4966.582 |
4043.713 |
3543.919 |
|
|
|
|
|
|
TOTAL |
10744.163 |
9715.668 |
8181.601 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6987.240 |
6603.603 |
4444.612 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
1239.198 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
17.119 |
17.119 |
17.109 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
530.607 |
413.531 |
376.393 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
7534.966 |
7034.253 |
6077.312 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
657.608 |
697.714 |
624.875 |
|
(c) Trade
receivables |
757.608 |
649.777 |
524.852 |
|
(d) Cash
and cash equivalents |
661.450 |
421.725 |
220.368 |
|
(e)
Short-term loans and advances |
217.257 |
198.924 |
208.092 |
|
(f) Other
current assets |
915.274 |
713.275 |
405.781 |
|
Total
Current Assets |
3209.197 |
2681.415 |
1983.968 |
|
|
|
|
|
|
TOTAL |
10744.163 |
9715.668 |
8061.280 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
9069.233 |
8163.970 |
7766.59 |
|
|
Other Income |
86.495 |
53.420 |
56.945 |
|
|
TOTAL
|
9155.728 |
8217.390 |
7823.535 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3352.120 |
3197.907 |
3108.736 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
33.797 |
(108.158) |
16.363 |
|
|
Employees benefits expense |
379.992 |
334.873 |
311.833 |
|
|
Other expenses |
808.942 |
830.453 |
673.532 |
|
|
Power and Fuel |
3191.790 |
2840.187 |
2640.577 |
|
|
TOTAL |
7766.641 |
7095.262 |
6751.041 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1389.087 |
1122.128 |
1072.494 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
497.769 |
381.047 |
333.951 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
891.318 |
741.081 |
738.543 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
466.132 |
354.661 |
364.319 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
425.186 |
386.420 |
374.224 |
|
|
|
|
|
|
|
Less |
TAX |
230.824 |
142.570 |
152.709 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
194.362 |
243.850 |
221.515 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
451.825 |
357.975 |
286.460 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
150.000 |
150.000 |
150.000 |
|
|
Total
(M) |
150.000 |
150.000 |
150.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
496.187 |
451.825 |
357.975 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
459.305 |
579.879 |
730.228 |
|
|
TOTAL
EARNINGS |
459.305 |
579.879 |
730.228 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
940.904 |
753.623 |
508.506 |
|
|
Coal |
128.022 |
6.460 |
55.602 |
|
|
Chemicals & Spares &
Stores |
24.727 |
31.564 |
50.34 |
|
|
Capital Goods |
82.027 |
266.802 |
7.605 |
|
|
TOTAL
IMPORTS |
1175.680 |
1058.449 |
622.053 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
2.324 |
3.06 |
2.82 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current
Maturities of Long term debt |
|
|
|
|
SECURED: |
|
|
|
|
Debenture Loans from IDBI and IFCI |
0.000 |
0.000 |
50.390 |
|
Term Loans from IDBI and IFCI |
296.875 |
145.833 |
188.725 |
|
Deffered Term Loans from IDBI and IFCI |
|
|
43.922 |
|
Term Loans from Banks |
319.492 |
324.437 |
225.111 |
|
Interest and accrued but not due on term loans |
7.586 |
3.309 |
0.000 |
|
UNSECURED: |
|
|
|
|
Deferred Payment Sales Tax payable within 12 months after
the reporting date |
0.000 |
0.000 |
28.983 |
|
Total |
327.078 |
327.746 |
537.131 |
|
Cash generated from operations |
1702.686 |
926.368 |
(58.874) |
|
Net cash flows from (used in) operations |
1172.005 |
500.083 |
652.606 |
QUARTERLY
RESULTS
|
Particulars |
(Unaudited) Quarter Ended
30.06.2017 |
(Unaudited) Quarter Ended
30.09.2017 |
(Unaudited) Quarter Ended
31.12.2017 |
|
Net Sales |
2523.000 |
2443.800 |
2733.900 |
|
Total Expenditure |
2144.000 |
1952.300 |
2229.400 |
|
PBIDT (Excl OI) |
379.000 |
491.500 |
504.500 |
|
Other Income |
16.900 |
18.600 |
17.100 |
|
Operating Profit |
395.900 |
510.100 |
521.600 |
|
Interest |
118.600 |
112.800 |
120.100 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
277.300 |
397.300 |
401.500 |
|
Depreciation |
125.700 |
125.600 |
134.600 |
|
Profit Before Tax |
151.600 |
271.700 |
266.900 |
|
Tax |
42.800 |
94.300 |
148.100 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
108.800 |
177.400 |
118.800 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
95.400 |
164.100 |
105.600 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
26.62 |
29.05 |
24.67 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
13.71 |
12.56 |
14.80 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
94.41 |
74.62 |
65.83 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.83 |
1.61 |
1.72 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.20 |
0.17 |
0.19 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.59 |
0.58 |
0.56 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.12 |
1.14 |
0.92 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.39 |
1.20 |
1.19 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.96 |
1.96 |
1.91 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.79 |
2.94 |
3.21 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.14 |
2.99 |
2.85 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.81 |
2.51 |
2.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
5.44 |
7.22 |
7.46 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.65 |
0.66 |
0.56 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.49 |
0.49 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.33 |
0.35 |
0.37 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3.76 |
3.78 |
2.80 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.65 |
0.66 |
0.56 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 54.85/- |
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 |
976.460 |
1017.892 |
1061.504 |
|
Reserves & Surplus |
1993.930 |
2266.865 |
2491.843 |
|
Money received against share
warrants |
0.000 |
90.772 |
19.534 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2970.390 |
3375.529 |
3572.881 |
|
|
|
|
|
|
long-term borrowings |
979.375 |
1600.493 |
1417.481 |
|
Short term borrowings |
1752.992 |
2246.743 |
2575.732 |
|
Current maturities of
long-term debts |
537.131 |
327.746 |
327.078 |
|
Total
borrowings |
3269.498 |
4174.982 |
4320.291 |
|
Debt/Equity
ratio |
1.101 |
1.237 |
1.209 |
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 |
7766.590 |
8163.970 |
9069.233 |
|
|
|
5.117 |
11.089 |
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 |
7766.590 |
8163.970 |
9069.233 |
|
Profit |
221.515 |
243.850 |
194.362 |
|
|
2.85% |
2.99% |
2.14% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
No |
|
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 |
MANAGEMENT DISCUSSION
AND ANALYSIS :
Economy
Indian economy growth during 2016-17 has achieved a respectable level of 7.1% from 7.5% during 2015-16 which is mainlydue to the effect of demonitisation. Today, India has emerged as one of the fast growing economies in the world. The reduced oil prices internationally, government’s continued reforms in all sectors etc. namely demonitisation have helped India to reach
Today, “Non performing Assets” have become a jolt to the Banking Sector, affecting the credit availability to the industry as awhole, thus indirectly some obstacle to the growth.
Segment-wise performance
The Company is having three Business segments namely:-
(1) Chemicals
(2) Oils and Fats
(3) Power
Segment-wise analysis of structure, opportunity, threats and outlook are discussed hereunder
Chlor-Alkali products are basic chemicals used as raw materials in many process industries like paper, aluminium, soaps to detergents, pharmaceuticals, dye etc., Your Company deals in Caustic Soda, Chlorine, Sodium Hypochlorite, Hydrogen, Potassium Hydroxide and Potassium Carbonate under Chemicals/chlor-alkali division. The products of Chloromethanes unit namely Methyle Chloride, Chloroform, Carbon tetrachloride are well received by the market after initial teething problems.
During Financial year 2016-17, the production of Caustic Soda and Caustic Potash put together is at 159948 MTs which is slightly higher than its previous year. The Chloromethanes Plant has produced 28840 MTs and the products are well acceptance by the customers. The Fatty Acids Division has produced 21874 MTs of Stearic Acid and Soaps Noodles, Castor Oil Division has produced 7760 MTs. The price variation between the local region from where Company is sourcing the raw material, and Gujarat Belt (the other Castor producer), is the reason for the shortfall. Another reason for short fall is huge fluctuations in raw materials and finished products.
The Company is examining the avenues before it for the Power Plant at Bellary which continuous to be under closure with the expiry of Power Purchase Agreement with Karnataka State Electricity Authorities.
OUTLOOK
Currently with satisfactory rainfall being received in the country, the sentiment of market is enthusiastic and conducive for growth in all industrial sectors. This will help the demand for chlor-alkali products, the main Segment of the Company is expected for a growth, further. To reap the benefits of forward integration the company is contemplating to enter pharmaceuticals.
FINANCIAL PERFORMANCE
During the Financial Year 2016-17, the Gross Sales are slightly higher at INR 9876.700 Million, compared to INR 8655.600 Million, of previous year. The Gross Profit of the Company has been in Millione ased from INR 1122.200 Million., to INR 1389.100 Million., represents 20% in Million ease. Being capital intensive industry, depreciation is high at INR 514.900 Million. Another reason for in Million ease is addition of Chloromethanes assets. The Net profit for the year is INR 194.400 Million, compared to previous year of INR 244.200 Million. The difference or de Million ease is due to taxation (Deferred Tax Liability). The basic earning per Share stood at INR 23.200 per annum as against previous year of INR 30.700 per annum.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Deferred Payment liabilities (Sales Tax deferment/ loan sanctioned as per State Incentive Schemes (Repayable from the year 2018-19 to 2023-24 ) |
83.237 |
83.237 |
|
Loans and advances from related parties |
15.200 |
15.200 |
|
Short-term
borrowings |
|
|
|
From Others |
|
|
|
Sale/Purchase Bills Discounted with Can Bank Factors Limited (Payable on due dates of Bills/factors) |
129.759 |
151.094 |
|
Total |
228.196 |
249.531 |
UNAUDITED FINANCI
RESULT FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER 2017
|
PARTICULARS |
Quarter
Ended |
Nine
Months Ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1. Income from Operations |
|
|
|
|
Net Sales/income from
operations |
2733.900 |
2443.800 |
7700.700 |
|
Other Operating Income |
17.100 |
18.600 |
52.600 |
|
Total income from operations (net) |
2751.000 |
2462.400 |
7753.300 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
790.500 |
739.000 |
2285.100 |
|
Changes in inventories of finished goods. work-in-progress
and stock in trade |
(21.700) |
35.600 |
18.800 |
|
Excise duty |
0.000 |
0.000 |
258.800 |
|
Employee benefits expense |
98.900 |
96.100 |
294.300 |
|
Finance Costs |
120.100 |
112.800 |
351.500 |
|
Depreciation and Amortization Expenses |
134.600 |
125.600 |
385.900 |
|
Power and Fuel |
1038.900 |
886.400 |
2757.700 |
|
Other Expenses |
322.800 |
195.200 |
711.000 |
|
Foreign Exchange |
|
|
|
|
Total expenses |
2484.100 |
2190.700 |
7063.100 |
|
Exceptional items |
-- |
-- |
- |
|
Profit/ (Loss) from ordinary activities before tax |
266.900 |
271.700 |
690.200 |
|
Tax expenses |
148.100 |
94.300 |
285.200 |
|
Net Profit / (Loss) from continued operation after tax |
118.800 |
177.400 |
405.000 |
|
Net Profit / (Loss) from discontinued operation after tax |
13.200 |
13.300 |
39.900 |
|
Net Profit / (Loss) for the period |
105.600 |
164.100 |
365.100 |
|
|
|
|
|
|
Other comprehensive Income |
18.100 |
5.000 |
22.400 |
|
Earning Per Share (for continued and Discontinued
operation operation) |
|
|
|
|
Basic |
1.17 |
1.81 |
4.03 |
|
Diluted |
1.17 |
1.81 |
4.03 |
UNAUDITED SEGMENT WISE REVENUE, RESULTS AND
CAPITAL EMPLOYED FOR THE QUARETRY AND NINE MONTHS ENDED 31.12.2017
|
PARTICULARS |
Quarter
Ended |
Nine
Months Ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1.
Segment Revenue |
|
|
|
|
Chemicals |
2306.600 |
2022.100 |
6431.600 |
|
Oils and Fats |
484.000 |
470.200 |
1421.300 |
|
Total |
2790.600 |
2492.300 |
7852.900 |
|
Less : Inter Segment Revenue |
56.700 |
48.500 |
152.200 |
|
Net
Sales |
2733.900 |
2443.800 |
7700.700 |
|
|
|
|
|
|
2.
Segment Result Profit/(Loss) Before Tax and Interest |
|
|
|
|
Chemicals |
388.000 |
390.700 |
1048.200 |
|
Oils and Fats |
(16.200) |
(20.100) |
(50.500) |
|
Total |
371.800 |
370.600 |
997.700 |
|
Less : Interest Expenses
Interest Income |
120.100 (15.200) |
112.800 (13.900) |
351.500 (44.000) |
|
Il) Other un-allocable expenditure net of income |
|
|
|
|
Total Profit before tax from continuing operation |
266.900 |
271.700 |
690.200 |
|
III) Loss from discounting operations of power plant |
13.200 |
13.300 |
39.900 |
|
Total Profit before tax including
loss from discontinuing operation |
253.700 |
258.400 |
650.300 |
|
|
|
|
|
|
Segment Assets |
|
|
|
|
Chemicals |
9247.300 |
9130.900 |
9247.300 |
|
Oils and Fats |
1209.900 |
1195.500 |
1209.900 |
|
Other
un-allocable asset |
437.100 |
457.800 |
437.100 |
|
Discontinuing
operation of power plant |
357.000 |
369.200 |
357.000 |
|
Total |
11251.300 |
11153.4 |
11251.300 |
|
|
|
|
|
|
Segment Liability |
|
|
|
|
Chemicals |
5777.200 |
6196.600 |
5777.200 |
|
Oils and Fats |
914.500 |
860.000 |
914.500 |
|
Other
un-allocable asset |
340.100 |
308.400 |
340.100 |
|
Discontinuing
operation of power plant |
0.000 |
0.000 |
0.000 |
|
Total |
7031.800 |
7365.000 |
7031.800 |
|
|
|
|
|
|
3. Capital
Employed |
|
|
|
|
Chemicals |
3470.100 |
2934.300 |
3470.100 |
|
Oils and Fats |
295.400 |
335.500 |
295.400 |
|
Others |
97.000 |
149.400 |
97.000 |
|
Discontinuing
operation of power plant |
357.000 |
369.200 |
357.000 |
|
Total |
4219.500 |
3788.400 |
4219.500 |
Notes :
1) The above Un-audited financial results for the 3rd Quarter/Nine Months ended 31.12.2017 were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 12th January, 2018.
2) The Company adopted Indian Accounting Standards (Ind AS) from 1st April,
2017. Accordingly, the financial results for the 2nd quarter ended 30-09-2017
and for the 3rd Quarter/Nine Months ended 31.12.2017 have been prepared in
accordance with the Ind AS prescribed under Section 133 of the Companies
Act,2013 read with the relevant rules there under. The company has adopted Ind
As with transition date of April 01, 2016 and accordingly, restated results for
the previous year 3rd quarter/Nine Months ended 31.12.2016. The company has
opted to avail the relaxation provided by SEBI’s circular dated july 05,2016 in
respect of disclosure requirements, of figures for the previous year ended
31-3-2017.
3) The Statutory Auditors have carried out Limited Review of the above
financial results for the current year second and third quarter/Nine Months
ended 31st December, 2017. The Ind AS compliant financial results for the previous
year quarter/Nine Months ended December, 2016 have not been subjected to
limited review or audit. However, the company’s management has presented the
financial results after incorporating the applicable Ind AS adjustments and
exercised necessary due diligence to give a true and fair view of the results
in accordance with Ind AS.
4) According to requirements of Ind AS and SEBI (LODR) Regulations 2015,revenue
from operations for the 1st quarter ended June,2017 and 3rd quarter/Nine Months
ended Decemeber,2016 are reported inclusive of excise duty. The Government of
India has implemented Goods and Services Tax(GST) from 1st july,2017/replacing
excise duty, service tax and other indirect taxes. As per Ind As 18, the
revenue for the 2nd quarter ended 30-09-2017 and 3rd quarter ended 31-12-2017
are reported net of GST.
5) The Company has invested 23.43% in equity share capital of M/s NCS Sugars
Ltd, Bobbili,Andhra Pradesh, for procurement of power under power purchase
agreement. The company does not exercise any control or have significant
influence over the said company. Hence the entity is not considered as
associate of the company for accounting investments under equity method under
Ind AS 28 “Investments in Associates and Joint ventures". The above investment
is considered as financial instrument and accounted as per Ind AS-109°Financial
instruments”.
6) The figures for the corresponding previous year quarter/Nine Months have
been restated/regrouped and reclassified, wherever necessary to confirm with the
current year quarter/Nine Months presentation.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
2 |
G74984402 |
100149950 |
INDIAN BANK |
16/01/2018 |
- |
400000000.0 |
254-260, AVVAI SHANMUGAM SALAI ROYA PETTAH, CHENNAI-600014IN |
|
1 |
G74982125 |
100149944 |
INDIAN BANK |
17/01/2018 |
- |
500000000.0 |
254-260, AVVAI SHANMUGAM SALAI ROYA PETTAH, CHENNAI-600014IN |
|
3 |
G57360398 |
100128581 |
THE FEDERAL BANK LIMITED |
21/09/2017 |
- |
60000000.0 |
NO.6-2-981, MARUTHI PLAZA, LAKDI-KA-PUL BRANCHBESIDE SHADAN COLLEGE, KHAIRATABAD, HYDERABADTG500004IN |
|
4 |
G75016618 |
100098731 |
INDIAN BANK |
24/04/2017 |
17/01/2018 |
300000000.0 |
254-260, AVVAI SHANMUGAM SALAI ROYA PETTAH, CHENNAI-600014IN |
|
7 |
G31294176 |
100068036 |
THE SOUTH INDIAN BANK LIMITED |
23/11/2016 |
- |
75400000.0 |
G-01, LALA-II, OASIS PLAZATILAK ROAD, ABIDSHYDERABADTG500001IN |
|
11 |
G24605909 |
100062043 |
IFCI LIMITED |
27/10/2016 |
- |
450000000.0 |
IFCI TOWER 61, NEHRU PLACE, NEW DELHI-110019IN |
|
6 |
G24602625 |
100062040 |
IFCI LIMITED |
23/11/2016 |
- |
450000000.0 |
IFCI TOWER 61, NEHRU PLACE, NEW DELHI-110019IN |
|
9 |
G24427627 |
100061957 |
IFCI LIMITED |
01/11/2016 |
- |
1000000000.0 |
IFCI TOWER 61, NEHRU PLACE, NEW DELHI-110019IN |
|
5 |
G24424848 |
100061956 |
IFCI LIMITED |
23/11/2016 |
- |
1000000000.0 |
IFCI TOWER 61, NEHRU PLACE, NEW DELHI-110019IN |
|
10 |
G24399669 |
100061943 |
IFCI LIMITED |
27/10/2016 |
- |
1000000000.0 |
IFCI TOWER 61, NEHRU PLACE, NEW DELHI-110019IN |
FIXED ASSETS
· Free hold Land and Development
· Lease hold Land
· Buildings
· Plant and Machinery
· Power Plant and Machinery
· Electricals and D.G. Sets
· Furniture and Fittings
· Office and Telephone Equipment’s
· Computers
· Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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 |
|
|
1 |
INR |
|
Euro |
1 |
INR |
INFORMATION DETAILS
|
Information
Gathered by : |
|
|
|
|
|
Analysis Done by
: |
|
|
|
|
|
Report Prepared
by : |
TRUP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES/NO |
|
--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/NO |
|
--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.