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|
MIRA INFORM REPORT
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Report No. : |
507790 |
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Report Date : |
09.05.2018 |
IDENTIFICATION DETAILS
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Name : |
GRIND MASTER MACHINES PRIVATE LIMITED (w.e.f. 20.02.2017) |
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Formerly Known
As : |
GRIND MASTER MACHINE PRIVATE LIMITED |
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Registered
Office : |
B-10/B-11/B-14, MIDC, Near Railway Station, Aurangabad – 431005,
Maharashtra |
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Tel. No.: |
91-240-2374104/ 2374114/ 2374139 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
08.12.1993 |
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Com. Reg. No.: |
11-075518 |
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Capital
Investment / Paid-up Capital : |
INR 10.695 Million |
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CIN No.: [Company Identification
No.] |
U29100MH1993PTC075518 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AABCG1936H1ZQ |
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TIN No: |
27030314066 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCG1936H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the manufacture and sale of various
types of Machine tools including grinding machines, abrasive belts and
special purpose machines and has acquired a certain valuable technology
relating to the design, manufacture and fabrication activities. (Registered activity and also
confirmed by management) |
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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Comments : |
Subject was incorporated in the year 1993. It is a manufacturer and
exporter of metal surface polishing and finishing machines and other allied
products. Hawkins, Toshiba, Wipro, Yamaha, Mahindra, Bajaj, BHEL, Bosch, etc.
are the clients of the company. As per the financial of 2017, the company has achieved satisfactory
growth of 26.82% in its revenue as compared to the previous year’s revenue
and has gained a fair profitability margin of 14.80%. The sound financial position of the company is reflected by strong net
worth base along with negligible debt balance sheet profile and favourable
liquidity position. Rating takes into consideration the company’s decent earnings per
share (EPS) of INR 1763 as against its face value (FV) of INR 100. Business is active. Payment seems to be regular. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
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 09.05.2018
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 PARTED BY
|
Name : |
Mr. Sunil |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-9049948833 |
|
Date : |
05.05.2018 |
LOCATIONS
|
Registered / Head Office/ Factory 1: |
B-10/B-11/B-14, MIDC, Near Railway Station, Aurangabad – 431005,
Maharashtra, India |
|
Tel. No.: |
91-240-2374104/ 2374114/ 2374139 |
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Mobile No.: |
91-9049948833 (Mr. Sunil) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Industrial |
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Factory 2 : |
Unit –II, H-17/2, Part, MIDC, Waluj, Aurangabad –431136, Maharashtra,
India |
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Regional Offices: |
Located At:
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Channel Partners: |
Located At:
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Overseas
Offices: |
Located At
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Milind Dinkar Kelkar |
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Designation : |
Managing Director |
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Address : |
House No.5-9-105, Pagariya Colony, Station Road, Aurangabad-431005, Maharashtra, India |
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Date of Birth/Age : |
03.04.1958 |
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Qualification : |
ABWPK9163F |
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Date of Appointment : |
05.04.2004 |
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DIN No: |
00073492 |
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|
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Name : |
Mrs. Mohini Milind Kelkar |
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Designation : |
Managing Director |
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Address : |
House No.5-9-105, Pagariya Colony, Station Road, Aurangabad-431005, Maharashtra, India |
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Date of Birth/Age : |
03.02.1961 |
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Date of Appointment : |
08.12.1993 |
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PAN No.: |
AFJPK9844E |
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DIN No: |
00073496 |
KEY EXECUTIVES
|
Name : |
Mr. M.N. Bhalekar |
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Designation : |
Company Secretary |
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|
|
|
Name : |
Mr. Sunil |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Mohini Milind Kelkar |
47240 |
44.17 |
|
Milind Dinkar Kelkar |
59710 |
55.83 |
|
Total |
106950 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged in the manufacture and sale of various
types of Machine tools including grinding machines, abrasive belts and
special purpose machines and has acquired a certain valuable technology
relating to the design, manufacture and fabrication activities. (Registered activity and also
confirmed by management) |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Advance Payment and Credit (60/90 Days) (NEFT/RTGS) |
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Purchasing : |
Advance Payment and Credit (60/90 Days) (NEFT/RTGS) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
OEM’s
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
V. D. Abhyankar and Associates Chartered Accountants |
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Address : |
69, Ajinkya, First Floor, Sarang Society, Near Gajanan Maharaj Mandir, Garkheda Road, Aurangabad-431005, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFV9246N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
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CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
INR 100/- each |
INR 15.000 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
106950 |
Equity Shares |
INR 100/- each |
INR 10.695 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
10.695 |
10.695 |
10.695 |
|
(b) Reserves & Surplus |
1091.794 |
906.680 |
793.629 |
|
(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) |
1102.489 |
917.375 |
804.324 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
49.041 |
0.411 |
16.773 |
|
(b) Deferred tax liabilities (Net) |
30.705 |
19.394 |
17.113 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
79.746 |
19.805 |
33.886 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
50.364 |
16.583 |
37.246 |
|
(b) Trade
payables |
77.379 |
108.407 |
142.718 |
|
(c) Other
current liabilities |
170.653 |
133.150 |
109.297 |
|
(d) Short-term
provisions |
239.557 |
229.604 |
237.713 |
|
Total Current
Liabilities (4) |
537.953 |
487.744 |
526.974 |
|
|
|
|
|
|
TOTAL |
1720.188 |
1424.924 |
1365.184 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
149.382 |
131.743 |
143.120 |
|
(ii)
Intangible Assets |
195.553 |
243.040 |
312.480 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
73.370 |
4.100 |
4.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.845 |
3.998 |
3.857 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
421.150 |
382.881 |
463.457 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
603.191 |
416.123 |
241.626 |
|
(b)
Inventories |
115.417 |
81.867 |
46.894 |
|
(c) Trade
receivables |
356.531 |
332.548 |
401.449 |
|
(d) Cash
and cash equivalents |
100.733 |
79.882 |
142.642 |
|
(e)
Short-term loans and advances |
122.005 |
129.626 |
66.779 |
|
(f) Other
current assets |
1.161 |
1.997 |
2.337 |
|
Total
Current Assets |
1299.038 |
1042.043 |
901.727 |
|
|
|
|
|
|
TOTAL |
1720.188 |
1424.924 |
1365.184 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1273.648 |
1004.321 |
1065.000 |
|
|
Other Income |
42.082 |
65.505 |
41.885 |
|
|
TOTAL |
1315.730 |
1069.826 |
1106.885 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
418.529 |
386.055 |
357.750 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(33.561) |
(42.245) |
4.753 |
|
|
Employees benefits
expense |
261.688 |
209.742 |
230.342 |
|
|
CSR Expenditure |
3.413 |
3.062 |
0.000 |
|
|
Expenditure, Production,
Transportation |
12.756 |
18.723 |
17.430 |
|
|
Other expenses |
313.835 |
201.759 |
244.199 |
|
|
TOTAL |
976.660 |
777.096 |
854.474 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
339.070 |
292.730 |
252.411 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
4.990 |
4.359 |
7.005 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
334.080 |
288.371 |
245.406 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
67.741 |
87.155 |
48.253 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
266.339 |
201.216 |
197.153 |
|
|
|
|
|
|
|
Less |
TAX |
77.811 |
66.980 |
65.460 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
188.528 |
134.236 |
131.693 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
620.048 |
531.804 |
662.428 |
|
|
TOTAL EARNINGS |
620.048 |
531.804 |
662.428 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
145.751 |
78.132 |
86.433 |
|
|
Capital Goods |
8.695 |
0.000 |
11.617 |
|
|
TOTAL IMPORTS |
154.446 |
78.132 |
98.050 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
1763.00 |
1255.00 |
1231.00 |
|
Particulars |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
1400.000 |
|
|
|
|
(Due to Business
Growth) |
The above information has been parted by Mr. Sunil (Marketing Manager)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
54.817 |
20.615 |
7.168 |
|
Cash generated from operations |
161.336 |
31.522 |
252.983 |
|
Net cash flows from (used in) operating activity |
94.836 |
(35.459) |
194.483 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
102.17 |
120.86 |
137.59 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.57 |
3.02 |
2.65 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
67.48 |
102.49 |
145.61 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.94 |
3.58 |
5.38 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.98 |
0.78 |
0.55 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.37 |
0.36 |
0.40 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.14 |
0.04 |
0.08 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.49 |
0.53 |
0.66 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.31 |
0.41 |
0.57 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
67.95 |
67.16 |
36.03 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
14.80 |
13.37 |
12.37 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
10.96 |
9.42 |
9.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
17.10 |
14.63 |
16.37 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.41 |
2.14 |
1.71 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
2.20 |
1.97 |
1.62 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.64 |
0.64 |
0.59 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
14.42 |
3.52 |
5.72 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.41 |
2.14 |
1.71 |
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 |
10.695 |
10.695 |
10.695 |
|
Reserves & Surplus |
793.629 |
906.680 |
1091.794 |
|
Net
worth |
804.324 |
917.375 |
1102.489 |
|
|
|
|
|
|
long-term borrowings |
16.773 |
0.411 |
49.041 |
|
Short term borrowings |
37.246 |
16.583 |
50.364 |
|
Current maturities of
long-term debts |
7.168 |
20.615 |
54.817 |
|
Total
borrowings |
61.187 |
37.609 |
154.222 |
|
Debt/Equity
ratio |
0.076 |
0.041 |
0.140 |
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 |
1065.000 |
1004.321 |
1273.648 |
|
|
|
(5.698) |
26.817 |
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 |
1065.000 |
1004.321 |
1273.648 |
|
Profit /(Loss) |
131.693 |
134.236 |
188.528 |
|
|
12.37% |
13.37% |
14.80% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
10.695 |
10.695 |
|
(b) Reserves & Surplus |
|
1091.801 |
906.680 |
|
(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) |
|
1102.496 |
917.375 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
49.041 |
0.411 |
|
(b) Deferred tax liabilities (Net) |
|
30.705 |
19.394 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
79.746 |
19.805 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
50.364 |
16.583 |
|
(b) Trade payables |
|
77.379 |
108.407 |
|
(c) Other
current liabilities |
|
170.653 |
133.150 |
|
(d) Short-term
provisions |
|
239.578 |
229.604 |
|
Total Current
Liabilities (4) |
|
537.974 |
487.744 |
|
|
|
|
|
|
TOTAL |
|
1720.216 |
1424.924 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
149.382 |
131.743 |
|
(ii)
Intangible Assets |
|
195.553 |
243.040 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
72.936 |
4.100 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.845 |
3.998 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
420.716 |
382.881 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
603.191 |
416.123 |
|
(b)
Inventories |
|
115.417 |
81.867 |
|
(c) Trade
receivables |
|
356.531 |
332.548 |
|
(d) Cash
and cash equivalents |
|
101.673 |
79.882 |
|
(e)
Short-term loans and advances |
|
121.492 |
129.626 |
|
(f) Other
current assets |
|
1.196 |
1.997 |
|
Total
Current Assets |
|
1299.500 |
1042.043 |
|
|
|
|
|
|
TOTAL |
|
1720.216 |
1424.924 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
1273.648 |
1004.321 |
|
|
Other Income |
|
42.082 |
65.505 |
|
|
TOTAL |
|
1315.730 |
1069.826 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
418.529 |
386.055 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(33.561) |
(42.245) |
|
|
Employees benefits
expense |
|
261.688 |
209.742 |
|
|
Other expenses |
|
330.004 |
223.544 |
|
|
TOTAL |
|
976.660 |
777.096 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
339.070 |
292.730 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
4.990 |
4.359 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
334.080 |
288.371 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
67.741 |
87.155 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
266.339 |
201.216 |
|
|
|
|
|
|
|
Less |
TAX |
|
77.811 |
66.980 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
188.528 |
134.236 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
1763.00 |
1255.00 |
LEGALS
FILE
CASE STATUS
|
CASE DETAILS |
|||||||||||||
|
Case Type |
EP |
||||||||||||
|
Filing No. |
12879/2009 Filing date: 08-04-2009 |
||||||||||||
|
Registration No. |
1020/2009 Registration date: 10-07-2009 |
||||||||||||
|
Case code |
202700128792009 |
||||||||||||
|
|
|||||||||||||
|
CASE STATUS |
|||||||||||||
|
First Hearing Date |
24-08-2009 |
||||||||||||
|
Next Hearing Date |
22-12-2014 |
||||||||||||
|
Purpose of Hearing |
SUMMON / NOTICE |
||||||||||||
|
Court No &
Judge |
20 - X ASSISTANT JUDGE |
||||||||||||
|
|
|||||||||||||
|
Petitioner(s) & Advocate(s) |
|||||||||||||
|
Petitioner - Sunraj Systems Pvt., Ltd., Address - No.6, Arundale Beach Road, Kalakshetra Colony, Chennai – 90 and Rep. by its Managing Director Mr. Sridhar Rao Advocate - M/s. Ram & Rajan & Associates |
|||||||||||||
|
Respondent(s) & Advocate(s) |
|||||||||||||
|
Respondent - Grind Master Machines Pvt., ltd Address - Plot No. B-11/B, MIDC Area Aurangabad – 431 005 and rep. by its Managing Director Mrs. M. M. Kelkar W/o. Mr. Kelkar and its Director Mr. M.D. Kelkar. Advocate - |
|||||||||||||
|
ACTS |
|||||||||||||
|
Under Act(s) |
Code of Civil Procedure |
||||||||||||
|
Under Section(s) |
Order 21 Rule 46 |
||||||||||||
|
Subject |
|||||||||||||
|
|
|||||||||||||
|
LOWER COURT INFORMATION |
|||||||||||||
|
Court No & Name |
--- |
||||||||||||
|
Case No & Year |
--- |
||||||||||||
|
Case Decision Date |
--- |
||||||||||||
|
HISTORY OF CASE HEARING |
|||||||||||||
|
Regn. No. |
Judge |
Bussiness on Date |
Hearing Date |
Purpose of Hearing |
|||||||||
|
1020/2009 |
X ASSISTANT JUDGE |
24-08-2009 |
SUMMON / NOTICE |
||||||||||
|
1020/2009 |
X ASSISTANT JUDGE |
24-08-2009 |
09-06-2014 |
SUMMON / NOTICE |
|||||||||
|
1020/2009 |
X ASSISTANT JUDGE |
15-09-2014 |
SUMMON / NOTICE |
||||||||||
|
1020/2009 |
X ASSISTANT JUDGE |
22-12-2014 |
SUMMON / NOTICE |
||||||||||
|
WRIT INFORMATION |
|||||||||||||
|
Regn. No. |
Appellate Case No. |
Appellate Authority |
Date of Receipt |
||||||||||
|
Case Transfer Details Between The Courts |
|||||||||||||
|
Regn. No. |
Transfer Date |
From Court No |
To Court No |
||||||||||
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
Yes |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
THE STATE OF THE
COMPANY’S AFFAIRS:
The Company is primarily engaged in the manufacture and sale of various types of Machine tools including grinding machines, abrasive belts and special purpose machines and has acquired a certain valuable technology relating to the design, manufacture and fabrication activities. The company during the year 2016-17 earned a Net Profit of INR 188.528 million as against profit of INR 134.236 million of previous year.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G76165976 |
100152771 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
28/09/2017 |
- |
- |
2000000.0 |
CTS NO. 15308/71/72, OPP. GAJANAN MAHARAJ TEMPLECOMPLEX, GARKHEDAAURANGABADMH431005IN |
|
2 |
G82437146 |
100082600 |
SIDBI |
02/03/2017 |
27/03/2018 |
- |
55000000.0 |
1st Floor, Jeevan Suman, LIC Building,N-5, CIDCOAurangabadMH431003IN |
|
3 |
G07555196 |
100038697 |
SIDBI |
24/06/2016 |
- |
- |
10000000.0 |
1st FLOOR, JEEWAN SUMAN, LIC BUILDING, PLOT NO-3N-5, CIDCO, TOWN CENTREAURANGABADMH431003IN |
|
4 |
G53366803 |
80006765 |
Axis Bank Limited |
26/11/2005 |
01/09/2017 |
- |
250000000.0 |
Sakar BuildingAdalat RoadAurangabadMH431005IN |
|
5 |
G59957761 |
10362426 |
Small Industries Development Bank of India |
12/06/2012 |
- |
31/10/2017 |
7500000.0 |
Branch Office at 1st Floor, "Jeevan Suman",LIC Building, Plot No.3, N-5, CIDCO, Town Centre,AurangabadMH431003IN |
|
6 |
G56878432 |
10036258 |
UTI BANK LIMITED |
26/12/2006 |
- |
06/10/2017 |
7000000.0 |
Sakar Building, Adalat Road,Kranti Chowk,AurangabadMH431005IN |
|
7 |
G56883499 |
80002736 |
UTI BANK LIMITED |
25/02/2005 |
11/02/2006 |
06/10/2017 |
33800000.0 |
AURANGABAD BRANCHAURANGABADMH431005IN |
|
8 |
C77400182 |
80047417 |
Small Industries Development Bank of India |
25/11/2004 |
10/04/2010 |
15/01/2016 |
16000000.0 |
Branch Office at 1st floor, "Jeevan Suman",LIC Building, Plot No.3, N-5, CIDCO, Town Centre.AurangabadMH431003IN |
|
9 |
B08684730 |
80047418 |
Electronica Leasing & finance Ltd |
02/01/2003 |
- |
21/03/2011 |
370846.0 |
810 A Bilwa Kunj , Bhandarkar Institute Rd.Shivajinagar,PuneMH411004IN |
|
10 |
B07658255 |
80047419 |
UNITED WESTERN BANK LTD. |
07/09/2002 |
- |
24/02/2011 |
15000000.0 |
MAIN BR.AURANGABADMH431005IN |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicle
- Office equipment
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 records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 67.08 |
|
|
1 |
INR 91.14 |
|
Euro |
1 |
INR 80.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHY |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.