|
|
|
MIRA INFORM REPORT
|
Report No. : |
507936 |
|
Report Date : |
09.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SHREE GANESH REMEDIES LIMITED (w.e.f. 28.07.2017) |
|
|
|
|
Formerly Known
As : |
SHREE GANESH REMEDIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.6011, GIDC Estate, Near Aventis Pharma, Ankleshwar-393002, |
|
Tel. No.: |
91-2646-227777/ 327778 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
27.04.1995 |
|
|
|
|
Com. Reg. No.: |
04-025661 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 10.992 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24230GJ1995PLC025661 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
3405004454 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TIN No: |
24211001781 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
ABACS1471R |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Fine Chemicals, Speciality Chemicals and
Pharmaceutical Intermediates. [Registered Activity and also Confirmed by management] |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1995 and it
is having good track. For the financial year 2017, the company has increased in its revenue
from operations as compared to previous year and maintained decent
profitability margin of 13.29%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and debt free balance sheet. Further, rating also derives strength from its established track
record of business operations along with market position and improvement in
the revenue as well profitability profile during the year. Trade relations are reported as fair. Business is active. Payment
terms are seems to be regular. In view of the 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 |
|
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 : |
Mrs. Bhavita Jain |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-2646-227777 |
|
Date : |
07.05.2018 |
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No.6011, GIDC Estate, Near Aventis Pharma, Ankleshwar-393002, |
|
Tel. No.: |
91-2646-221564/ 227777/ 327778 |
|
Fax No.: |
91-2646-226422 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Marketing and Purchase Office: |
Shree Ganesh Group of Industries, 501, 5th Floor, Orchid Plaza, Near Gokul Shoping Center, Dattapada Subway Road, Borivali (West), Mumbai – 400092, Maharashtra, India |
|
Tel. No.: |
91-22-28016066 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Chandubhai Manubhai Kothia |
|
Designation : |
Managing Director |
|
Address : |
303/C16, Tulsikunj Society, GIDC Estate, Ankleshwar, Bharuch-393002,
Gujarat, India |
|
Date of Birth/Age : |
01.12.1962 |
|
Qualification : |
M.SC, D. Pharam |
|
Experience : |
23 Years |
|
Date of Appointment : |
27.04.1995 |
|
DIN No.: |
00652806 |
|
|
|
|
Name : |
Mr. Hasmukh Manubhai Kothia |
|
Designation : |
Director |
|
Address : |
406/15, Sardar Patel Society, GIDC Estate, Ankleshwar, Bharuch-393002,
Gujarat, India |
|
Date of Birth/Age : |
01.07.1955 |
|
Qualification : |
B.Sc., D. Pharm. |
|
Experience : |
23 Years |
|
Date of Appointment : |
27.04.1995 |
|
DIN No.: |
01076206 |
|
|
|
|
Name : |
Mr. Ashokkumar Manubhai Kothia |
|
Designation : |
Director |
|
Address : |
4, Navjeevan Co-operative Housing Society, GIDC, Estate, Ankleshwar,
Bharuch-393002, Gujarat, India |
|
Date of Birth/Age : |
01.06.1969 |
|
Qualification : |
B.Sc. |
|
Experience : |
28 Years |
|
Date of Appointment : |
27.04.1995 |
|
DIN No.: |
01076171 |
|
|
|
|
Name : |
Mr. Jayesh Kishanlal Savjani |
|
Designation : |
Director |
|
Address : |
B-201, Vishwam Residency, Zadeshwar Bharuch-392011, Gujarat, India |
|
Date of Birth/Age : |
04.12.1989 |
|
Date of Appointment : |
29.07.2017 |
|
DIN No.: |
07740486 |
|
|
|
|
Name : |
Mr. Priyam Surendra Shah |
|
Designation : |
Additional Director |
|
Address : |
23, Amra Manjari Bung., Bopal, Ahmedabad-380058, Gujarat, India |
|
Date of Appointment : |
11.10.2017 |
|
DIN No.: |
06858411 |
|
|
|
|
Name : |
Mrs. Vaishaliben Kanjibhai Vadodariya |
|
Designation : |
Additional Director |
|
Address : |
121, Tapi Darshan Society -1, Nana Varachha, Surat-395006, Gujarat, India |
|
Date of Appointment : |
05.02.2018 |
|
DIN No.: |
08061214 |
KEY EXECUTIVES
|
Name : |
Mr. Aditya Vikrambhai Patel |
|
Designation : |
Company Secretary |
|
Address : |
606, Motovas, Nava Vadaj, Ahmedabad-380013, Gujarat, India |
|
Date of Appointment : |
19.08.2017 |
|
PAN No.: |
BRIPP9780J |
|
|
|
|
Name : |
Mrs. Bhavitaben Bhavik Kumar Jain |
|
Designation : |
Chief Finance Officer |
|
Address : |
B-12, Shri Ramvatika Society, Zadeshwar Road, Bharuch-392011, Gujarat, India |
|
Date of Appointment : |
29.07.2017 |
|
PAN No.: |
AMDPJ1299D |
|
|
|
|
Name : |
Mrs. Bhavita Jain |
|
Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS
As on: 31.03.2018
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
5626398 |
62.72 |
|
|
(B) Public |
3344958 |
37.28 |
|
|
Grand Total |
8971356 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as
a % of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided
Family |
4216674 |
47.00 |
|
|
ASHOKKUMAR MANUBHAI KOTHIA |
300000 |
3.34 |
|
|
HASMUKHBHAI MANUBHAI KOTHIA |
759246 |
8.46 |
|
|
MANUBHAI JIVABHAI KOTHIYA |
1022574 |
11.40 |
|
|
BABUBHAI MANUBHAI KOTHIYA |
420000 |
4.68 |
|
|
CHANDULAL MANUBHAI KOTHIA |
723000 |
8.06 |
|
|
SUBHASHBHAI BABUBHAI KOTHIA |
514566 |
5.74 |
|
|
HANSHABEN CHANDUBHAI KOTHIA |
477288 |
5.32 |
|
|
Any Other (specify) |
1409724 |
15.71 |
|
|
KOTHIA HASHMUKHBHAI MANUBHA
(HUF) |
36198 |
0.40 |
|
|
KOTHIA ASHOKKUMAR MANUBHAI
(HUF) |
7896 |
0.09 |
|
|
KETAN HASHMUKHBHAI KOTHIA (HUF) |
29580 |
0.33 |
|
|
KETAN HASMUKHBHAI KOTHIA |
198000 |
2.21 |
|
|
VILASBEN ASHOKKUMAR KOTHIA |
436266 |
4.86 |
|
|
CHAMPABEN BABUBHAI KOTHIYA |
257706 |
2.87 |
|
|
MEENA SUBHASBHAI KOTHIA |
21,072 |
0.23 |
|
|
PRATIBHA KETANBHAI KOTHIA |
206808 |
2.31 |
|
|
MANJULABEN HASHMUKHBHAI KOTHIA |
93264 |
1.04 |
|
|
SANJAY HASMUKHBHAI KOTHIYA |
122934 |
1.37 |
|
|
Sub Total A1 |
5626398 |
62.72 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
5626398 |
62.72 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR, 1957 As a
% of (A+B+C2) |
|
|
B1) Institutions |
0 |
0.00 |
|
|
B2) Central Government/ State
Government(s)/ President of India |
0 |
0.00 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual share capital upto INR
0.200 million |
1047000 |
11.67 |
|
|
Individual share capital in
excess of INR 0.200 million |
2051958 |
22.87 |
|
|
ARVINDBHAI T VASOYA |
241332 |
2.69 |
|
|
BABUBHAI K KOTADIYA |
159444 |
1.78 |
|
|
DINESHKUMAR VORA |
191358 |
2.13 |
|
|
HANSABEN ARVINDBHAI VASOYA |
180000 |
2.01 |
|
|
KAILASHBEN DHANSUKHBHAI
BHANDERI |
94824 |
1.06 |
|
|
NILESH MANSUKHBHAI PATEL |
162000 |
1.81 |
|
|
PATEL TRUPTIBEN |
117000 |
1.30 |
|
|
SANJAYKUMAR SARAWAGI |
99000 |
1.10 |
|
|
Any Other (specify) |
246000 |
2.74 |
|
|
Bodies Corporate |
12000 |
0.13 |
|
|
Clearing Members |
87000 |
0.97 |
|
|
Non-Resident Indian (NRI) |
6000 |
0.07 |
|
|
Market Maker |
141000 |
1.57 |
|
|
RIKHAV SECURITIES LIMITED |
141000 |
1.57 |
|
|
Sub Total B3 |
3344958 |
37.28 |
|
|
B=B1+B2+B3 |
3344958 |
37.28 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturer of Fine Chemicals, Speciality Chemicals and
Pharmaceutical Intermediates. [Registered Activity and also Confirmed by management] |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cheque (RTGS) |
||||
|
|
|
||||
|
Purchasing : |
RTGS/ NEFT |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Manufacturer
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
50 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
SRMB and Company Chartered Accountants |
|
Address : |
2C to 2G, 2nd Floor, Resham Bhawan, Lal Darwaja, Station Road, Surat – 395003, Gujarat, India |
|
Mobile No.: |
91-9227000042/ 43/ 46 |
|
E-Mail : |
|
|
PAN No.: |
ACXFS7117H |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Firm under common Control: |
· Shree Ganesh Chemicals · Ashok Pharma Chem |
|
|
|
|
Firm of Relatives of Director |
· Ashok lmplex · Ganesh Corporation · Prahant Pigment LLP |
|
|
|
|
Company under common Control: |
Ankleshwar Research and Analytical Infrastructure Limited |
|
|
|
|
Other related Parties: (Confirmed by Management) |
Shri Ganesh Pigments Private Limited |
CAPITAL STRUCTURE
After: 19.08.2017
Authorised Capital : INR 100.000 million
Issued, Subscribed & Paid-up Capital : INR 89.714
million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 10/- each |
INR 25.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1099226 |
Equity Shares |
INR 10/- each |
INR 10.992 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.992 |
10.992 |
10.992 |
|
(b) Reserves & Surplus |
155.560 |
129.834 |
118.894 |
|
(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) |
166.552 |
140.826 |
129.886 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.219 |
|
(b) Deferred tax liabilities (Net) |
0.712 |
0.769 |
1.107 |
|
(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) |
0.712 |
0.769 |
1.326 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
24.663 |
7.460 |
10.944 |
|
(c) Other
current liabilities |
0.000 |
0.218 |
0.343 |
|
(d) Short-term
provisions |
19.748 |
7.380 |
9.979 |
|
Total Current
Liabilities (4) |
44.411 |
15.058 |
21.266 |
|
|
|
|
|
|
TOTAL |
211.675 |
156.653 |
152.478 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
42.313 |
43.361 |
44.926 |
|
(ii)
Intangible Assets |
0.074 |
0.096 |
0.110 |
|
(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 |
0.500 |
0.500 |
0.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
2.507 |
2.106 |
2.084 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
45.394 |
46.063 |
47.620 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
28.448 |
30.483 |
33.660 |
|
(c) Trade
receivables |
73.414 |
56.697 |
42.217 |
|
(d) Cash
and cash equivalents |
28.724 |
9.775 |
11.157 |
|
(e)
Short-term loans and advances |
35.695 |
13.635 |
17.824 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
166.281 |
110.590 |
104.858 |
|
|
|
|
|
|
TOTAL |
211.675 |
156.653 |
152.478 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
198.588 |
155.206 |
164.965 |
|
|
Other Income |
4.661 |
3.583 |
4.905 |
|
|
TOTAL
|
203.249 |
158.789 |
169.870 |
|
|
|
(Due
to Business Growth) |
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
97.629 |
75.916 |
93.419 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
2.729 |
9.530 |
(0.101) |
|
|
Employees benefits expense |
18.626 |
17.160 |
15.563 |
|
|
Other expenses |
38.932 |
33.298 |
33.976 |
|
|
TOTAL |
157.916 |
135.904 |
142.857 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
45.333 |
22.885 |
27.013 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.418 |
0.437 |
1.166 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
44.915 |
22.448 |
25.847 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
5.452 |
6.039 |
6.481 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
39.463 |
16.409 |
19.366 |
|
|
|
|
|
|
|
Less |
TAX |
13.080 |
5.470 |
6.307 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
26.383 |
10.939 |
13.059 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
121.555 |
110.616 |
97.867 |
|
|
|
|
|
|
|
Add |
Written of Assets as per companies Act |
(0.857) |
0.000 |
(0.310) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
147.081 |
121.555 |
110.616 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
142.840 |
108.646 |
127.701 |
|
|
TOTAL
EARNINGS |
142.840 |
108.646 |
127.701 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
35.385 |
36.255 |
39.165 |
|
|
TOTAL
IMPORTS |
35.385 |
36.255 |
39.165 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
24.00 |
9.95 |
11.88 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.218 |
0.343 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
17.952 |
(14.994) |
(12.722) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
134.93 |
133.34 |
93.41 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.71 |
2.74 |
3.91 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
92.21 |
35.87 |
42.76 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.59 |
0.75 |
0.80 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.07 |
0.53 |
0.60 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.21 |
0.10 |
0.14 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
0.27 |
0.11 |
0.16 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.25 |
0.31 |
0.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
108.45 |
52.37 |
23.17 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
13.29 |
7.05 |
7.92 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
12.46 |
6.98 |
8.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
15.84 |
7.77 |
10.05 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.74 |
7.34 |
4.93 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
3.10 |
5.32 |
3.35 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.79 |
0.90 |
0.85 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.02 |
0.05 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
3.74 |
7.34 |
4.93 |
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 |
10.992 |
10.992 |
10.992 |
|
Reserves & Surplus |
118.894 |
129.834 |
155.560 |
|
Net
worth |
129.886 |
140.826 |
166.552 |
|
|
|
|
|
|
long-term borrowings |
0.219 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
0.343 |
0.218 |
0.000 |
|
Total
borrowings |
0.562 |
0.218 |
0.000 |
|
Debt/Equity
ratio |
0.004 |
0.002 |
0.000 |
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 |
164.965 |
155.206 |
198.588 |
|
|
|
(5.916) |
27.951 |
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 |
164.965 |
155.206 |
198.588 |
|
Profit /(Loss) |
13.059 |
10.939 |
26.383 |
|
|
7.92% |
7.05% |
13.29% |
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 |
No |
|
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 |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
MANAGEMENT’S
DISCUSSION AND ANALYSIS
Their Company was originally incorporated as subject Company at Ahmedabad, Gujarat
as a Private Limited Company under the provisions of Companies Act, 1956 vide
Certificate of Incorporation dated April 27, 1995 bearing registration number 025661
issued by Assistant Registrar of Companies, Gujarat, Dadra & Nagar Haveli.
Subsequently, their Company was converted into a Public Limited Company
pursuant to special resolution passed by the shareholders at the Extraordinary
General Meeting held on July 12, 2017 and fresh certificate of incorporation
consequently upon change of name was issued by Registrar of Companies, Gujarat,
Ahmedabad dated July 28, 2017 and name of their Company was changed to subject
Company.
Their Company is as ISO 9001:2015, ISO 14001:2015 BS and OHSAS 18001:2007 certified Company and is engaged in manufacturing and dispatch of drug intermediates and chemicals like amine hydrochloride and specialty fine chemicals for pharmaceutical industry. We manufacture products relating to antipsychotic, antiseptic, deprotonating reactions, hyperlipidaemia, alzheimers and anti-viral. The manufacturing process is supported by Total Quality Management techniques and is supervised through various quality control equipment’s and qualified personnel. The Products are manufactured for export market and also for domestic and foreign markets. We entered the International market in the year 2006 and are on regular basis exporting their products to various countries. Their manufacturing facility is divided into three manufacturing plants namely Plant I, II and III spread across 9715 square meters having different product manufacturing capabilities and process. Their Company is managed by a team of professionals headed by their Managing Director having experience in the field of manufacturing of pharmaceuticals intermediates, bulk drugs, fine chemicals, pigments and plastics. Their Company undertakes manufacturing of products on custom research to some extent as per the project received.
Note: The Registered Office of the company has been shifted from “Plot No 6715, G.I.D.C. Estate, Ankleshwar, District Bharuch – 393002, Gujarat, India” to the present address w.e.f. 25.04.2007.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G75784538 |
100106907 |
Axis Bank Limited |
15/06/2017 |
12/01/2018 |
- |
19000000.0 |
VARDHAMAN COMPLEX, OPP. GEB OFFICE, NR. PIZZA HUTRACE COURSE CIRCLE,VADODARAGJ390007IN |
|
2 |
C11154556 |
10090137 |
Axis Bank Limited |
18/12/2007 |
29/02/2012 |
25/06/2014 |
51490000.0 |
VARDHMAN COMPLEXOPP. G.E.B OFFICE, RACE COURCE (NORTH)VADODARAGJ390007IN |
|
3 |
C09316787 |
90102403 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
28/09/2004 |
01/03/2012 |
17/06/2014 |
56490000.0 |
1ST FLOOR,LAND MARK BUILDINGRACE COURSE CIRCLEBARODAGJ390007IN |
|
4 |
A27962141 |
90102448 |
STATE BANK OF SAURASHTRA |
25/02/2005 |
- |
01/11/2007 |
1000000.0 |
GIDC IND. ESTATEANKLESHWAR BRANCHANKLESHWARGJIN |
CONTINGENT
LIABILITIES:
(INR in Million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees |
|
|
|
Bank guarantee to Gujarat Gas Co. Limited |
0.200 |
0.200 |
|
Bank Guarantee to Gujarat Pollution Control Board |
0.160 |
0.160 |
|
Total |
0.360 |
0.400 |
FIXED ASSETS:
Tangible Assets
· Plant and Machinery
· Electrical Installation
· ETP Machinery
· Gas Connection
· Computer
· Air Conditioner
· Motor Car
· Factory Building
· Mobile Instrument
· Vehicles
·
Cycle
·
Swift Dezire
·
Land
·
Office Equipment
Intangible Assets
- License
- 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 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 : |
TJL |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
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 |
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.