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|
MIRA INFORM REPORT
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Report No. : |
507518 |
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Report Date : |
07.05.2018 |
IDENTIFICATION DETAILS
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Name : |
ASK CHEMICALS INDIA PRIVATE LIMITED (w.e.f. 26.11.2012) |
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Formerly Known
As : |
ASK CHEMICALS FOUNDRY SOLUTION INDIA PRIVATE LIMITED (w.e.f. 24.02.2011) AJAY METACHEM PRIVATE LIMITED |
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Registered
Office : |
305-311, 3rd Floor Century Arcade, Narangi Baug Road, Pune – 411001, Maharashtra |
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Tel. No.: |
91-20-261 623 43 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
31.07.1973 |
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Com. Reg. No.: |
11-016721 |
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Capital
Investment / Paid-up Capital : |
INR 22.298 Million |
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CIN No.: [Company Identification
No.] |
U24231MH1973PTC016721 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No: |
27750368766 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AACCA0713D1ZE |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCA0713D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the
manufacturing, trading and servicing of a wide range of foundry and steel
chemicals. (Registered
Activity) |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 24000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a step down subsidiary OF “ASK Chemicals GMBH (ASK Global)”
incorporated in the year 1973. For the financial year 2017, the company has achieved decent growth in
its revenue as compared to its previous year but has reported operating
losses during the year. The company possesses moderate financial risk profile marked by low
net worth base due to negative reserve and highly leveraged balance sheet
profile. Rating further gets constrained by continuous operating losses
incurred in its previous year long excess borrowing recorded during the year
and highly fragmented industry with presence of other large players and
unorganized sector marked by profit margins exposed to fluctuations in the
input prices. However, these rating gets partially by its long and established track
record of its business operations backed by its well experienced promoters
group along with strong financial support from its globally known parent
company. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some caution. |
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 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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 07.05.2018
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. Vinay Divakar Jayade |
|
Designation : |
Additional Director / Chief
Executive Officer |
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Contact No.: |
91-9820452527 |
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Date : |
06.05.2018 |
LOCATIONS
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Registered Office : |
305-311, 3rd Floor Century Arcade, Narangi Baug Road, Pune – 411001, Maharashtra, India |
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Tel. No.: |
91 20-26162340/ 261623 43/ 26813250 |
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Mobile No.: |
91-9820452527 (Mr. Vinay Jayade) |
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Fax No.: |
91-20-26812837 |
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E-Mail : |
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Website : |
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Factory/ Head Office : |
No. 72- 76, Mundwa, |
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Factory : |
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Vinay Divakar Jayade |
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Designation : |
Additional Director / Chief
Executive Officer |
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Address : |
502, Centre Court, Behind Hotel Sharanam, Near New RTO, Shahid Mangal Pande Road, Thane – 400604, Maharashtra, India |
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Date of Birth/Age : |
17.10.1970 |
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Qualification : |
BE Polymers and Masters in Marketing Management |
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Date of Appointment : |
06.12.2016 |
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PAN No.: |
AAOPJ9214F |
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DIN No: |
07672462 |
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|
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Name : |
Aristeidis Chatziparaskevas |
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Designation : |
Director |
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Address : |
Amerikis 21 A Athens 10672 |
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Date of Birth/Age : |
23.01.1960 |
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Qualification : |
Msc. Mechanical And Production Engineer |
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Date of Appointment : |
30.09.2015 |
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DIN No: |
01538992 |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Ask Chemicals Pte. Limited, Singapore |
|
222976 |
|
Ask Chemicals GMBH, Singapore |
|
1 |
|
Total |
|
222977 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged in the
manufacturing, trading and servicing of a wide range of foundry and steel
chemicals. (Registered
Activity) |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
BSR and Associates LLP Chartered Accountants |
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Address : |
703, 7th Floor, Godrej Castle Maine, Next to Ruby Hall Clinic, Bund Garden Road, Pune – 411001, Maharashtra, India |
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Tel. No.: |
91-20-30504000 |
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Fax No.: |
91-20-30504100 |
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Income-tax
PAN of auditor or auditor's firm : |
AADFB6889R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company |
Ask Chemicals Pte. Limited, Germany |
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Ultimate Holding
company |
Ask Chemicals International Holdings GMBH, Germany |
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Intermediate
Holding company |
Ask Chemicals GMBH, Germany |
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Fellow Subsidiary company |
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Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives |
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CAPITAL STRUCTURE
As on: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
INR 100/- each |
INR 25.000 Million |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
222977 |
Equity Shares |
INR 100/- each |
INR 22.298 Million |
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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 |
22.298 |
22.298 |
22.298 |
|
(b) Reserves and Surplus |
(13.772) |
22.780 |
126.968 |
|
(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) |
8.526 |
45.078 |
149.266 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
3.313 |
5.591 |
3.576 |
|
Total Non-current Liabilities
(3) |
3.313 |
5.591 |
3.576 |
|
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|
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(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
153.101 |
143.228 |
146.561 |
|
(b) Trade
payables |
175.097 |
31.647 |
60.061 |
|
(c) Other
current liabilities |
7.012 |
5.956 |
27.829 |
|
(d) Short-term
provisions |
4.067 |
13.846 |
2.627 |
|
Total Current
Liabilities (4) |
339.277 |
194.677 |
237.078 |
|
|
|
|
|
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TOTAL |
351.116 |
245.346 |
389.920 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
35.175 |
62.833 |
63.200 |
|
(ii)
Intangible Assets |
0.202 |
0.218 |
0.245 |
|
(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 |
0.065 |
0.065 |
0.065 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
6.370 |
9.081 |
10.338 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
41.812 |
72.197 |
73.848 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
120.182 |
59.131 |
81.837 |
|
(c) Trade
receivables |
152.402 |
92.304 |
180.033 |
|
(d) Cash and
bank balances |
2.677 |
15.137 |
18.142 |
|
(e)
Short-term loans and advances |
6.205 |
6.577 |
22.654 |
|
(f) Other
current assets |
27.838 |
0.000 |
13.406 |
|
Total
Current Assets |
309.304 |
173.149 |
316.072 |
|
|
|
|
|
|
TOTAL |
351.116 |
245.346 |
389.920 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
423.320 |
346.419 |
758.274 |
|
|
Other Income |
41.726 |
14.392 |
23.720 |
|
|
TOTAL |
465.046 |
360.811 |
781.994 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
58.643 |
84.569 |
419.379 |
|
|
Purchases of
Stock-in-Trade |
328.088 |
166.567 |
102.401 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(60.701) |
10.389 |
10.996 |
|
|
Employee benefit expense |
49.493 |
55.388 |
70.217 |
|
|
Other expenses |
109.303 |
131.714 |
312.891 |
|
|
Exceptional items |
(2.446) |
0.000 |
58.665 |
|
|
TOTAL |
482.380 |
448.627 |
974.549 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(17.334) |
(87.816) |
(192.555) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
15.864 |
16.506 |
28.803 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(33.198) |
(104.322) |
(221.358) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
4.082 |
3.722 |
11.622 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(37.280) |
(108.044) |
(232.980) |
|
|
|
|
|
|
|
Less |
TAX |
(0.728) |
(3.856) |
0.130 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(36.552) |
(104.188) |
(233.110) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1.390 |
2.064 |
16.906 |
|
|
Commission Received |
0.000 |
0.000 |
2.635 |
|
|
TOTAL EARNINGS |
1.390 |
2.064 |
19.541 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
32.471 |
0.000 |
144.630 |
|
|
Capital Goods |
216.907 |
122.917 |
35.105 |
|
|
TOTAL IMPORTS |
249.378 |
122.917 |
179.735 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(163.927) |
(467.259) |
(1888.41) |
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 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(25.825) |
(11.632) |
(167.320) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(8.281) |
9.360 |
(167.421) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
131.41 |
97.25 |
86.66 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.78 |
3.75 |
4.21 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
165.26 |
46.00 |
42.01 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(0.14) |
(1.49) |
(2.35) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(0.49) |
(1.39) |
(3.03) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.97 |
0.79 |
0.61 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
17.96 |
3.18 |
0.98 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
39.79 |
4.32 |
1.59 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
4.15 |
1.40 |
0.43 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(1.09) |
(5.32) |
(6.69) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(8.63) |
(30.08) |
(30.74) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(10.41) |
(42.47) |
(59.78) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(428.71) |
(231.13) |
(156.17) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.91 |
0.89 |
1.33 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.56 |
0.59 |
0.99 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.02 |
0.18 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
6.87 |
6.42 |
6.57 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.91 |
0.89 |
1.33 |
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 |
22.298 |
22.298 |
22.298 |
|
Reserves & Surplus |
126.968 |
22.780 |
(13.772) |
|
Net
worth |
149.266 |
45.078 |
8.526 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
146.561 |
143.228 |
153.101 |
|
Total
borrowings |
146.561 |
143.228 |
153.101 |
|
Debt/Equity
ratio |
0.982 |
3.177 |
17.957 |
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 |
758.274 |
346.419 |
423.320 |
|
|
|
(54.315) |
22.199 |
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 |
758.274 |
346.419 |
423.320 |
|
Profit |
(233.110) |
(104.188) |
(36.552) |
|
|
(30.74%) |
(30.08%) |
(8.63%) |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
No |
|
30 |
Major shareholders, if available |
No |
|
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 |
OPERATIONS:
The total income of the company was INR 465.046 million and total expenditure was INR 504.772 million. The Loss before tax was INR 37.280 million
COMPANY OVERVIEW
Subject the Company was incorporated on 31 July 1973. The registered office of the Company is in Pune. The Company is engaged in the manufacturing, trading and servicing of a wide range of foundry and steel chemicals.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G52322427 |
10005429 |
Bank of Baroda (Shivaji Nagar Branch) |
20/05/2006 |
07/03/2012 |
24/08/2017 |
83700000.0 |
1303,Jangali Maharaj Road,Shivajinagar,Pune.PuneMH411005IN |
|
2 |
B38530424 |
80064980 |
Bank of Baroda |
07/05/1984 |
- |
20/04/2012 |
3400000.0 |
shivajinagarpunepuneMH411005IN |
|
3 |
B38507208 |
80064964 |
Bank of Baroda |
15/12/2001 |
- |
20/04/2012 |
4500000.0 |
Shivaji Nagar,PunePuneMH411005IN |
|
4 |
B38528808 |
80064978 |
Bank of Baroda |
06/12/1978 |
- |
20/04/2012 |
250000.0 |
shivajinagarpunepuneMH411005IN |
|
5 |
B38531109 |
80064981 |
Bank of Baroda |
20/06/1984 |
- |
20/04/2012 |
366500.0 |
ShivajinagarpunepuneMH411005IN |
|
6 |
B38508644 |
80064966 |
Bank of Baroda |
31/03/1993 |
- |
20/04/2012 |
70450000.0 |
shivaji nagarpunepuneMH411005IN |
|
7 |
B38519898 |
80064974 |
Bank of Baroda |
15/04/1976 |
- |
20/04/2012 |
50000.0 |
shivajinagarpunepuneMH411005IN |
|
8 |
B38515037 |
80064967 |
Bank of Baroda |
26/10/1995 |
- |
20/04/2012 |
92000000.0 |
shivaji nagarpunepuneMH411005IN |
|
9 |
B38515789 |
80064968 |
Bank of Baroda |
15/03/1999 |
- |
20/04/2012 |
12000000.0 |
shivaji nagarpunepuneMH411005IN |
|
10 |
B38518189 |
80064971 |
Bank of Baroda |
07/05/1988 |
- |
20/04/2012 |
2000000.0 |
shivaji nagarpunepuneMH411005IN |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicle
- Office
Equipment
- Computer
Accessories
- Computer
Software
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 : |
PRT |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
MTN |
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.