|
|
|
MIRA INFORM REPORT
|
Report No. : |
507924 |
|
Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SWISS SINGAPORE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, Office No. 204 and 205, Rayson Arcade, Plot No.
139, Sector 8, Aboce Bank of Baroda, Oslo, Gandhidham, Kutch – 370201,
Gujarat |
|
Tel. No.: |
91-2836-266200 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
30.04.2013 |
|
|
|
|
Com. Reg. No.: |
04-086557 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 1.342 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101GJ2013FTC086557 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0313024057 |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
37AATCS0544F1Z5 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AATCS0544F |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
The company is engaged in the Business of International Trading of bulk Commodities. The Company Sources Commodities like Tea, Iron ore, Mill Scale from India for Exporting them to Customers across various parts of the Globe and Imports Commodities like Coal, Iron oxide pellets, Iron ore lumps, pulses, petro products like Naphtha, Furnace Oil, Gas Oil etc. [Registered Activity] |
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|
|
|
No. of Employees
: |
Information denied 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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a wholly-owned subsidiary of “Swiss Singapore Overseas Enterprises Pte Limited”, which is a part of “Aditya Birla Group” and a leading bulk commodity trading solutions provider to clients across globe. It was incorporated in the year 2013. As per the financials of 2017, the company has achieved revenue growth
of 41.57% as compared to the previous year along with a low profit margin of
0.65%. The sound financial risk profile of the company is marked by improving
networth base along with low debt balance sheet profile. Rating takes into consideration the healthy Earnings Per Share of INR
967.00 against the Face Value of INR 10. Rating takes into consideration the strong operational and financial linkages that subject enjoys with its parent, Swiss Singapore Overseas Enterprises Pte Limited (SSOE) along with the strong market position in the domestic commodities trading business. Rating strengths are partially offset by exposure to risks inherent in the commodities trading business, including changes in regulations. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long-term bank facilities-A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
28.02.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short-term bank facilities-A1 |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
28.02.2018 |
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 05.05.2018
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 : |
Ms. Pooja Singh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9924497061 |
LOCATIONS
|
Registered / Branch Office 1 : |
1st Floor, Office No. 204 and 205, Rayson Arcade, Plot No.
139, Sector 8, Aboce Bank of Baroda, Oslo, Gandhidham, Kutch – 370201,
Gujarat, India |
|
Tel. No.: |
91-2836-266200 to 266204 |
|
Mobile No.: |
91-9924497061 (Mr. Gajanan Sharma) |
|
Fax No.: |
91-2836-266249 |
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E-Mail : |
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|
Website : |
|
|
|
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Branch Office 2 : |
701, Bhikaji Cama Bhawan, Bhikaji Cama Place, New Delhi – 110066, India |
|
Tel. No.: |
91-11-43114000 |
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Fax No.: |
91-11-43114040 |
|
|
|
|
Branch Office 3: |
Division: Global Exports and Marketing, 16th Floor, Industry House, 10 Camac Street, Kolkata – 700017, West Bengal, India |
|
Tel. No.: |
91-33-40394500 / 4511 |
|
Fax No.: |
91-33-22829288 |
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|
|
|
Branch Office 4
: |
5th Floor, Surya Residency No. IV, Behind Sharda Bakery, East Point Colony, Visakhapatnam – 530017, Andhra Pradesh, India |
|
|
|
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Branch Office 5
: |
No. 17, Ground Floor, Victria Street, Tuticorin – 628001, Tamilnadu, India |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Babulal Bothra |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
45, Suhasini Ganguli Sarani, 3rd Floor, P.O. - Bhowanipore, Kolkata –
700025, West Bengal, India |
||||||||
|
Date of Birth/Age : |
04.10.1968 |
||||||||
|
Qualification : |
CA |
||||||||
|
Date of Appointment : |
26.02.2015 |
||||||||
|
DIN No.: |
01183483 |
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Other Directorship:
|
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|
||||||||
|
Name : |
Mr. Ravi Kumar Garg |
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|
Designation : |
Director |
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|
Address : |
28, Ashok Garh (West), Flat No. –
9, Kolkata – 700108, West Bengal, India |
||||||||
|
Date of Birth/Age : |
28.09.1970 |
||||||||
|
Qualification : |
CA,
CWA |
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|
Date of Appointment : |
30.09.2016 |
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PAN No.: |
ADZPG6396B |
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DIN No.: |
06890552 |
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|
|
||||||||
|
Name : |
Mr. Rajat Chitlangia |
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|
Designation : |
Director |
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|
Address : |
F - 407, Ganapati Paradise, A - 11, Central Spine, Vidhya Dhar Nagar,
Jaipur – 302023, Rajasthan, India |
||||||||
|
Date of Birth/Age : |
26.10.1973 |
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|
Qualification : |
CA |
||||||||
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Date of Appointment : |
30.09.2016 |
||||||||
|
PAN No.: |
ACEPC0500H |
||||||||
|
DIN No.: |
07119294 |
||||||||
KEY EXECUTIVES
|
Name : |
Mr. Gajanan Sharma |
|
Designation : |
Manager |
|
|
|
|
Name : |
Mr. Vikas Jain |
|
Designation : |
Finance Department |
|
|
|
|
Name : |
Mr. Babulal Bothra |
|
Designation : |
Chief Executive Officer |
|
Address : |
45, Suhasini Ganguli Sarani, 3rd Floor, P.O. - Bhowanipore, Kolkata –
700025, West Bengal, India |
|
Date of Birth/Age : |
04.10.1968 |
|
Date of Appointment : |
05.07.2017 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Swiss Singapore Overseas Enterprises Pte Limited, Singapore |
134174 |
|
B. L Ajmera (Nominee Shareholder of Swiss Singapore Overseas Pte
Limited, Singapore) |
1 |
|
|
|
|
Total |
134175 |
Equity Share Break up (Percentage of Total Equity)
AS ON 06.07.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
0.0007453 |
|
Promoters [Bodies
corporate] |
99.9992547 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the Business of International Trading of bulk Commodities. The Company Sources Commodities like Tea, Iron ore, Mill Scale from India for Exporting them to Customers across various parts of the Globe and Imports Commodities like Coal, Iron oxide pellets, Iron ore lumps, pulses, petro products like Naphtha, Furnace Oil, Gas Oil etc. [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 : |
Information denied by the management |
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Bankers : |
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Facilities : |
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|
Auditors : |
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|
Name : |
Khimji Kunverji and Company Chartered Accountants |
|
Address : |
Sunshine Tower, Level 19, Senapati Bapat Marg, Elphinstone
Road, Mumbai – 400013, Maharashtra, India |
|
PAN No.: |
AAAFK1142M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding Company : |
· Swiss Singapore Overseas Enterprises Pte Limited, Singapore |
|
|
|
|
Subsidiary Company
: |
· Swiss Singapore Logistics Private Limited (U74120GJ2015PTC083000) |
|
|
|
|
Fellow Subsidiary : |
· Myanmar Swiss Singapore Company Limited · Swiss Singapore Overseas Enterprises Pte Limited CI · Swiss Singapore Canada Pte Limited · PT Swiss Niaga International · Swiss Singapore (Shanghai) Trading Co. Limited · Swiss Benin SARL · Swiss Singapore Middle East FZE · SSOE (Kenya) Limited · Swiss Vietnam International Company Limited · SS Overseas Ent. Nigeria Limited · Swiss Singapore (Bangladesh) Limited · Swiss Singapore Overseas Ent (Ghana) Limited |
CAPITAL STRUCTURE
AS ON 06.07.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
134175 |
Equity Shares |
INR 10/- each |
INR 1.342 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.342 |
1.342 |
1.342 |
|
(b) Reserves and Surplus |
244.397 |
114.686 |
(11.652) |
|
(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) |
245.739 |
116.028 |
(10.310) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
599.924 |
599.924 |
599.924 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
10.657 |
15.020 |
14.573 |
|
Total Non-current
Liabilities (3) |
610.581 |
614.944 |
614.497 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
191.811 |
4.848 |
104.132 |
|
(b) Trade
payables |
6474.580 |
2723.347 |
2166.300 |
|
(c) Other current
liabilities |
511.691 |
340.423 |
211.552 |
|
(d) Short-term
provisions |
42.353 |
3.417 |
4.432 |
|
Total Current
Liabilities (4) |
7220.435 |
3072.035 |
2486.416 |
|
|
|
|
|
|
TOTAL |
8076.755 |
3803.007 |
3090.603 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
49.889 |
26.028 |
23.681 |
|
(ii)
Intangible Assets |
0.711 |
1.291 |
0.258 |
|
(iii) Tangible assets
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 |
0.100 |
0.100 |
0.000 |
|
(c) Deferred tax assets (net) |
33.308 |
5.301 |
4.179 |
|
(d)
Long-term loans and advances |
26.192 |
48.389 |
30.727 |
|
(e) Other
Non-current assets |
0.446 |
0.880 |
0.815 |
|
Total Non-Current
Assets |
110.646 |
81.989 |
59.660 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
30.000 |
|
(b)
Inventories |
5553.775 |
2644.943 |
1626.297 |
|
(c) Trade
receivables |
2236.807 |
958.914 |
1235.822 |
|
(d) Cash
and bank balances |
63.082 |
12.779 |
1.657 |
|
(e)
Short-term loans and advances |
109.485 |
99.525 |
135.930 |
|
(f) Other
current assets |
2.960 |
4.857 |
1.237 |
|
Total Current
Assets |
7966.109 |
3721.018 |
3030.943 |
|
|
|
|
|
|
TOTAL |
8076.755 |
3803.007 |
3090.603 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
19889.848 |
14049.317 |
12000.820 |
|
|
Other Income |
297.004 |
154.311 |
124.517 |
|
|
TOTAL |
20186.852 |
14203.628 |
12125.337 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
813.928 |
910.337 |
608.286 |
|
|
Purchases of
Stock-in-Trade |
20801.867 |
13151.058 |
11493.885 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2409.704) |
(802.772) |
(613.562) |
|
|
Employee benefit expense |
112.437 |
117.342 |
93.924 |
|
|
CSR expenditure |
0.495 |
0.000 |
0.000 |
|
|
Other expenses |
600.167 |
598.865 |
529.329 |
|
|
TOTAL |
19919.190 |
13974.830 |
12111.862 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
267.662 |
228.798 |
13.475 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
60.273 |
65.011 |
75.334 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
207.389 |
163.787 |
(61.859) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
8.404 |
6.999 |
4.101 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
198.985 |
156.788 |
(65.960) |
|
|
|
|
|
|
|
Less |
TAX |
69.275 |
30.449 |
(0.986) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
129.710 |
126.339 |
(64.974) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export of goods calculated on F.O.B. basis |
890.019 |
980.771 |
977.968 |
|
|
Income from support services |
54.679 |
83.613 |
0.000 |
|
|
Interest Income against early payment |
14.486 |
5.302 |
0.000 |
|
|
TOTAL EARNINGS |
959.184 |
1069.686 |
977.968 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Trading Goods |
20023.532 |
12496.208 |
14658.828 |
|
|
Capital Goods |
0.000 |
20.807 |
0.000 |
|
|
Raw Material |
36.587 |
56.991 |
39.713 |
|
|
Others |
8.895 |
4.354 |
2.239 |
|
|
TOTAL IMPORTS |
20069.014 |
12578.360 |
14700.780 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
967.00 |
942.00 |
484.25 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(56.352) |
113.008 |
(109.481) |
|
Net cash flows from (used in) operating activities |
(47.019) |
114.662 |
(115.943) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
41.05 |
24.91 |
37.59 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
8.89 |
14.65 |
9.71 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
109.33 |
70.69 |
65.34 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.05 |
0.09 |
0.01 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
5.29 |
8.38 |
0.56 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.97 |
0.97 |
1.00 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
3.22 |
5.21 |
-68.29 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
29.38 |
26.48 |
-241.17 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.21 |
0.24 |
-2.32 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.44 |
3.52 |
0.18 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
0.65 |
0.90 |
(0.54) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.61 |
3.32 |
(2.10) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
52.78 |
108.89 |
630.20 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.10 |
1.21 |
1.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.33 |
0.35 |
0.56 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.03 |
0.03 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
589.97 |
450.65 |
524.63 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.10 |
1.21 |
1.22 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
1.342 |
1.342 |
1.342 |
|
Reserves & Surplus |
(11.652) |
114.686 |
244.397 |
|
Net
worth |
(10.310) |
116.028 |
245.739 |
|
|
|
|
|
|
Long Term borrowings |
599.924 |
599.924 |
599.924 |
|
Short Term borrowings |
104.132 |
4.848 |
191.811 |
|
Total
borrowings |
704.056 |
604.772 |
791.735 |
|
Debt/Equity
ratio |
(68.289) |
5.212 |
3.222 |
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
|
12000.820 |
14049.317 |
19889.848 |
|
|
|
17.070 |
41.572 |
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
|
12000.820 |
14049.317 |
19889.848 |
|
Profit/(Loss) |
(64.974) |
126.339 |
129.710 |
|
|
(0.54%) |
0.90% |
0.65% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1.342 |
1.342 |
|
(b) Reserves and Surplus |
|
313.196 |
128.671 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
314.538 |
130.013 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
599.924 |
599.924 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
10.658 |
15.020 |
|
Total Non-current
Liabilities (3) |
|
610.582 |
614.944 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
191.811 |
4.848 |
|
(b) Trade
payables |
|
6531.990 |
2795.708 |
|
(c) Other
current liabilities |
|
527.212 |
275.849 |
|
(d) Short-term
provisions |
|
30.598 |
1.005 |
|
Total Current
Liabilities (4) |
|
7281.611 |
3077.410 |
|
|
|
|
|
|
TOTAL |
|
8206.731 |
3822.367 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
50.416 |
27.033 |
|
(ii)
Intangible Assets |
|
0.712 |
1.291 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
33.671 |
5.294 |
|
(d)
Long-term loans and advances |
|
26.352 |
48.549 |
|
(e) Other
Non-current assets |
|
0.446 |
0.880 |
|
Total Non-Current
Assets |
|
111.597 |
83.047 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
5553.775 |
2644.943 |
|
(c) Trade
receivables |
|
2347.180 |
965.401 |
|
(d) Cash
and bank balances |
|
79.598 |
24.425 |
|
(e)
Short-term loans and advances |
|
111.621 |
99.694 |
|
(f) Other
current assets |
|
2.960 |
4.857 |
|
Total
Current Assets |
|
8095.134 |
3739.320 |
|
|
|
|
|
|
TOTAL |
|
8206.731 |
3822.367 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
20440.168 |
14113.616 |
|
|
Other Income |
|
291.555 |
148.800 |
|
|
TOTAL |
|
20731.723 |
14262.416 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1376.726 |
969.261 |
|
|
Purchases of
Stock-in-Trade |
|
20801.867 |
13151.058 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(2409.705) |
(802.772) |
|
|
Employee benefit expense |
|
112.437 |
117.342 |
|
|
CSR expenditure |
|
0.931 |
0.000 |
|
|
Other expenses |
|
499.378 |
577.831 |
|
|
TOTAL |
|
20381.634 |
14012.720 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
350.089 |
249.696 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
60.331 |
65.011 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
289.758 |
184.685 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
8.882 |
7.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
280.876 |
177.685 |
|
|
|
|
|
|
|
Less |
TAX |
|
96.351 |
37.361 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
|
184.525 |
140.324 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
1375.00 |
1046.00 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
GENERAL INFORMATION
The company is a wholly owned Subsidiary of Swiss Singapore Overseas Pte Limited. The company is engaged in the Business of International Trading of bulk Commodities. The Company Sources Commodities like Tea, Iron ore, Mill Scale from India for Exporting them to Customers across various parts of the Globe and Imports Commodities like Coal, Iron oxide pellets, Iron ore lumps, pulses, petro products like Naphtha, Furnace Oil, Gas Oil etc. for sales to customers in India.
PERFORMANCE REVIEW
During the year, the company has witnessed strong growth in some of the products while a downfall in few. With the pragmatic approach, organizational agility, customer centricity and ability to cop up with global challenges efficiently being faced in commodity market, the company witnessed the PBT of INR 198.900 million with increase of 58%.
On standalone basis aggregate sales volume increased 18% from 2.9MMT to 3.4MMT. The Company’s Standalone revenue stood at INR 20186.800 million vis-a-vis INR 14203.600 million in previous year which accounts for rise of 42%. Coal has contributed highest in the revenue of the company accounting for approx. 62% of the revenue.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Fully convertible debentures others |
599.924 |
599.924 |
|
|
|
|
|
Total |
599.924 |
599.924 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B98582927 |
10482822 |
HDFC Bank Limited |
14/02/2014 |
- |
- |
500000000.0 |
HDFC Bank House Senapati Bapat Marg Lower Parel West, Mumbai 400013, Maharashtra, India |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
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 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 66.77 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.