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%20LIMITED%20-%20508302_files/image001.jpg){kind=small}
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MIRA INFORM REPORT
|
Report No. : |
508302 |
|
Report Date : |
10.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SAFARI INDUSTRIES (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
302-303, A Wing, The Qube, CTS No.1498, A/2 M.V. Road, Marol,
Andheri (East) Mumbai – 400059, Maharashtra |
|
Tel. No.: |
91-22-40381888/40381837 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
08.07.1980 |
|
|
|
|
Com. Reg. No.: |
11-022812 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 41.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L25200MH1980PLC022812 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0388132744 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAHCS5888E4ZS |
|
|
|
|
TIN No.: |
27290360192 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS00122D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS5888E |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing and selling of luggage. [Registered Activity] |
|
|
|
|
No. of Employees
: |
989 (Approximately) |
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 2900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Safari Industries India limited (SIIL) was incorporated in the year 1980 and it manufacturing and sells luggage under the brand name of ‘SAFARI’. The company has its manufacturing unit at Halol (Gujarat).
Note: As on 22nd September 2017, the company has split its
face value of Shares from INR 10 to INR 2. |
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 borrowing: A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
14.11.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term borrowing: A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
14.11.2018 |
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 10.05.2018
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. Saurabh Nemani |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-40381888/40381837 |
|
Date : |
09.05.2018 |
LOCATIONS
|
Registered Office : |
302-303, A Wing, The Qube, CTS No.1498, A/2 M.V. Road, Marol,
Andheri (East) Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-40381888/40381837 |
|
Fax No.: |
91-22-40381850 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
1701/ 2200/ 2201, GIDC Industrial Estate, Halol,
District Panchmahal-389350, Gujarat,
India |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Anuj Patodia |
|
Designation : |
Director |
|
Address : |
62a, Mount Unique 72, Peddar Road, Mumbai-400026, Maharashtra, India |
|
Date of Appointment : |
18.04.2012 |
|
DIN No.: |
00026458 |
|
|
|
|
Name : |
Mr. Sudhir Mohanlal Jatia |
|
Designation : |
Managing Director |
|
Address : |
Jatia Sadan, 81, Worli Sea Face, Worli, Mumbai-400018, Maharashtra, India |
|
Date of Appointment : |
18.04.2015 |
|
DIN No.: |
00031969 |
|
|
|
|
Name : |
Mr. Rahul Lalit Kanodia |
|
Designation : |
Director |
|
Address : |
A-2102,21st Floor,A Wing, Vivaria DR A NAIR RD, Sane Guruji Marg, Mumbai-400011, Maharashtra, India |
|
Date of Birth/ Age: |
25.11.1966 |
|
Qualification : |
MBA degree from Columbia University (USA) with a major in Business Strategy and Marketing and a minor in Mergers and Acquisition and Turnaround Management. Two bachelor degrees from H. R. College (India), with specialization in Finance & Accounting, and Babson College (USA), with specialization in Management Information Systems |
|
Experience : |
Over 25 years of professional experience and has expertise in the field of Business Strategies, Marketing, Finance, Merger and Amalgamations |
|
Date of Appointment : |
16.05.2016 |
|
DIN No.: |
00075801 |
|
|
|
|
Name : |
Mr. Punkajj Girdharilal Lath |
|
Designation : |
Director |
|
Address : |
1, Nowroji Mansion, 31 Wodehouse Road, Colaba, Mumbai-400001, Maharashtra, India |
|
Date of Appointment : |
18.04.2012 |
|
DIN No.: |
00172371 |
|
|
|
|
Name : |
Mr. Dalip Sehgal |
|
Designation : |
Director |
|
Address : |
8a, 8 Akash Ganga 89, Bhulabhai Desai Road, Mumbai-400026, Maharashtra, India |
|
Date of Appointment : |
08.11.2013 |
|
DIN No.: |
00217255 |
|
|
|
|
Name : |
Mrs. Vijaya Sampath |
|
Designation : |
Director |
|
Address : |
Flat No - 403, Block -14, Heritage City, Mehrauli Gurgaon Road, Gurgaon 122002, Haryana, India |
|
Date of Appointment : |
22.09.2014 |
|
DIN No.: |
00641110 |
|
|
|
|
Name : |
Mr. Shailesh Jayantilal Mehta |
|
Designation : |
Director |
|
Address : |
401 El Cerrito Ave Hillsborough California 94010 Us |
|
Date of Appointment : |
30.04.2017 |
|
DIN No.: |
01633893 |
|
|
|
|
Name : |
Mr. Piyush Goenka |
|
Designation : |
Additional Director |
|
Address : |
Flat No 1701, 17th Floor, Era 4, Marathon Era, Veer Santajimarg,Off Ganpatroakadammarg, Lower Parel, Mumbai-400013, Maharashtra, India |
|
Date of Appointment : |
07.02.2017 |
|
DIN No.: |
02117859 |
KEY EXECUTIVES
|
Name : |
Mr. Vineet Poddar |
|
Designation : |
Chief Finance Officer |
|
Address : |
Flat No. 34c, Third Floor, Vaibhav Apartment 220/222, Veer Savarkar Marg, Mahim (West), Mumbai-400016, Maharashtra, India |
|
Date of Appointment : |
17.05.2017 |
|
PAN No.: |
AIDPP5733G |
|
|
|
|
Name : |
Mr. Rameez Abdul Hamid Shaikh |
|
Designation : |
Company Secretary |
|
Address : |
A/4, Rupam Apartments, Hall Pakhadi Road Near Karthika High School, Kurla (West), Mumbai- 400070, Maharashtra, India |
|
Date of Appointment : |
10.02.2018 |
|
PAN No.: |
BMRPS2542H |
|
|
|
|
Name : |
Mr. Saurabh Nemani |
|
Designation : |
Finance Department |
SHAREHOLDING PATTERN
AS ON 31.03.2018
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
12860965 |
57.80 |
|
(B) Public |
9389035 |
42.20 |
|
Grand Total |
22250000 |
100.00 |
%20LIMITED%20-%20508302_files/image005.gif)
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
A1) Indian |
|
0.00 |
|
Individuals/Hindu undivided Family |
10587500 |
47.58 |
|
Sudhir Mohanlal Jatia |
10587500 |
47.58 |
|
Any Other (specify) |
2273465 |
10.22 |
|
Safari Investments Limited |
2273465 |
10.22 |
|
Sub Total A1 |
12860965 |
57.80 |
|
A2) Foreign |
|
0.00 |
|
A=A1+A2 |
12860965 |
57.80 |
Statement showing shareholding pattern of the Public
shareholder
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
B1) Institutions |
|
0.00 |
|
Mutual Funds/ |
1500 |
0.01 |
|
Foreign Portfolio Investors |
1941782 |
8.73 |
|
Malabar India Fund Limited |
1901743 |
8.55 |
|
Financial Institutions/ Banks |
500 |
0.00 |
|
Any Other (specify) |
3555027 |
15.98 |
|
Tano India Private Equity Fund II |
3150000 |
14.16 |
|
Malabar Value Fund |
405027 |
1.82 |
|
Sub Total B1 |
5498809 |
24.71 |
|
B2) Central Government/ State
Government(s)/ President of India |
|
0.00 |
|
B3) Non-Institutions |
|
0.00 |
|
Individual share capital upto INR 0.200
Million |
2307492 |
10.37 |
|
Individual share capital in excess of INR
0.200 Million |
559840 |
2.52 |
|
Rohinton Soli Screwvala |
294644 |
1.32 |
|
Any Other (specify) |
1022894 |
4.60 |
|
Clearing Members |
5510 |
0.02 |
|
IEPF |
301600 |
1.36 |
|
Non-Resident Indian (NRI) |
105609 |
0.47 |
|
Bodies Corporate |
610175 |
2.74 |
|
Central Park Securities Holding Private Ltd |
417035 |
1.87 |
|
Sub Total B3 |
3890226 |
17.48 |
|
B=B1+B2+B3 |
9389035 |
42.20 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturing and selling of luggage. [Registered Activity] |
||||||
|
|
|
||||||
|
Products / Services
: |
|
||||||
|
|
|
||||||
|
Brand Names : |
“SAFARI” |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Divulged |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
|
|||||||||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees
: |
989 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
Auditors : |
|
|
Name : |
Bansi S. Mehta and Company Chartered Accountants |
|
Address : |
11/ 13, Botawala Building, 2nd Floor, Horniman Circle,
Mumbai-400001, Maharashtra, India |
|
Tel. No.: |
91-922-22661255/ 22660275/ 22665275/ 22660821/ 22661557 |
|
Fax No.: |
91-22-22665666 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Legal advisors: |
M/s. ALMT Legal Advocates and Solicitors |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Wholly Owned
Subsidiary of Safari Industries (India) Limited: |
|
|
|
|
|
Enterprise in which
Key Management Personnel has significant influence: |
|
CAPITAL STRUCTURE
AFTER 30.08.2017
Authorised Capital : INR 100.000 Million
Issued Subscribed & Paid-up Capital : INR 44.500
Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
5000000 |
Equity Shares (Unclassified Shares) |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 100.000
Million |
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4150000 |
Equity Shares |
INR 10/- each |
INR 41.500 Million |
|
|
|
|
|
The Reconciliation of the number of Equity
shares outstanding at the beginning and at the end of the year
|
Equity Shares |
Number
of Shares |
Amount
|
|
Equity shares at the beginning of the year |
4,150,000 |
41.500 |
|
Add :- Shares issued on Preferential Basis |
-- |
-- |
|
Equity shares at the end of the year |
4,150,000 |
41.500 |
Rights, preference and restriction
attaching to various classes of Shares
1) Each Equity Shareholder is entitled to one vote per share.
2) Of the 21,17,500 equity shares held by Mr. Sudhir Jatia,Promoter & Managing Director of the Company, 3,30,000 equity shares (shares allotted to him on conversion of the share warrants) are subject to a lock-in of 3 years, from the date of the respective trading approvals granted by the Bombay Stock Exchange, in accordance with the provisions of SEBI (Issue of Capital Disclosure Requirement) Regulations 2009.
Shares in the Company
held by each shareholder holding more than 5% of paid up capital
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Safari Investments Pvt. Ltd |
454,693 |
10.96% |
|
Sudhir Mohanlal Jatia |
2,117,500 |
51.02% |
|
Tano India Private Equity Fund II |
830,000 |
20.00% |
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 |
41.500 |
41.500 |
39.850 |
|
(b) Reserves &
Surplus |
957.581 |
869.637 |
700.274 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
24.750 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
999.081 |
911.137 |
764.874 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
32.070 |
26.006 |
0.779 |
|
(b) Deferred tax
liabilities (Net) |
3.089 |
3.263 |
0.000 |
|
(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) |
35.159 |
29.269 |
0.779 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
390.978 |
550.206 |
328.883 |
|
(b) Trade payables |
365.975 |
177.306 |
138.244 |
|
(c) Other current
liabilities |
159.366 |
81.747 |
52.844 |
|
(d) Short-term provisions |
22.779 |
14.109 |
10.673 |
|
Total Current Liabilities
(4) |
939.098 |
823.368 |
530.644 |
|
|
|
|
|
|
TOTAL |
1973.338 |
1763.774 |
1296.297 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
191.043 |
194.856 |
118.141 |
|
(ii) Intangible Assets |
42.012 |
47.830 |
4.863 |
|
(iii) Capital
work-in-progress |
0.000 |
1.947 |
0.000 |
|
(iv) Intangible assets
under development |
10.941 |
1.024 |
1.024 |
|
(b) Non-current
Investments |
0.500 |
0.500 |
0.500 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
3.238 |
|
(d) Long-term Loan and Advances |
86.791 |
84.737 |
77.764 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
331.287 |
330.894 |
205.530 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.099 |
0.617 |
|
(b) Inventories |
937.060 |
761.551 |
596.085 |
|
(c) Trade receivables |
584.500 |
542.789 |
401.900 |
|
(d) Cash and cash
equivalents |
48.536 |
49.274 |
39.403 |
|
(e) Short-term loans and
advances |
22.227 |
33.609 |
11.577 |
|
(f) Other current assets |
49.728 |
45.558 |
41.185 |
|
Total Current Assets |
1642.051 |
1432.880 |
1090.767 |
|
|
|
|
|
|
TOTAL |
1973.338 |
1763.774 |
1296.297 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
3552.417 |
2768.643 |
2159.327 |
|
|
Other Income |
10.953 |
7.843 |
5.762 |
|
|
TOTAL |
3563.370 |
2776.486 |
2165.089 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost
of Materials Consumed |
319.061 |
350.020 |
234.880 |
|
|
Purchases of Stock-in-Trade |
1867.272 |
1352.697 |
1130.699 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(170.776) |
(152.520) |
(118.598) |
|
|
Employees benefits expense |
404.256 |
291.419 |
227.100 |
|
|
Other expenses |
905.935 |
747.464 |
565.315 |
|
|
Extraordinary Items |
0.000 |
0.557 |
0.000 |
|
|
Exceptional Items |
8.906 |
0.000 |
9.590 |
|
|
TOTAL |
3334.654 |
2589.637 |
2048.986 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
228.716 |
186.849 |
116.103 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
30.744 |
26.191 |
29.091 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
197.972 |
160.658 |
87.012 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
50.976 |
40.650 |
28.905 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
146.996 |
120.008 |
58.107 |
|
|
|
|
|
|
|
Less |
TAX |
49.826 |
42.001 |
15.404 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
97.170 |
78.007 |
42.703 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
129.798 |
57.785 |
39.878 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend on
Equity Shares |
8.300 |
4.980 |
3.985 |
|
|
Dividend Distribution Tax |
1.690 |
1.014 |
0.811 |
|
|
Amount transferred to
general reserve |
0.000 |
0.000 |
20.000 |
|
|
Balance Carried to the B/S |
216.978 |
129.798 |
57.785 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Traded Goods |
1378.121 |
1025.569 |
901.045 |
|
|
Raw Materials |
82.326 |
95.903 |
18.092 |
|
|
Capital Goods |
0.000 |
46.251 |
0.498 |
|
|
TOTAL IMPORTS |
1460.447 |
1167.723 |
919.635 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
Basic |
23.41 |
19.39 |
11.81 |
|
|
Diluted |
23.40 |
19.39 |
11.25 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
12.200 |
6.420 |
0.151 |
|
Cash generated from operations |
278.388 |
(93.724) |
(293.960) |
|
Net cash from operating activities |
227.832 |
(129.781) |
(321.173) |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
|
|
|
|
|
Net sales |
1072.090 |
881.550 |
1034.360 |
|
Total Expenditure |
1005.900 |
801.190 |
911.610 |
|
PBIDT (Excluding Other Income) |
66.190 |
80.360 |
122.750 |
|
Other income |
2.130 |
1.570 |
4.780 |
|
Operating Profit |
68.320 |
81.930 |
127.530 |
|
Interest |
5.390 |
7.380 |
8.520 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
62.930 |
74.560 |
119.010 |
|
Depreciation |
13.670 |
13.300 |
19.970 |
|
Profit Before Tax |
49.260 |
61.260 |
99.040 |
|
Tax |
16.570 |
26.160 |
31.280 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit after tax |
32.690 |
35.090 |
67.760 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
32.690 |
35.090 |
67.760 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days (Sundry Debtors /
Income * 365 Days) |
60.06 |
71.56 |
67.93 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.08 |
5.10 |
5.37 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
61.10 |
38.01 |
36.95 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.24 |
0.25 |
0.19 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.94 |
0.76 |
0.94 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current
Liabilities) / Total Assets) |
0.50 |
0.49 |
0.41 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.44 |
0.64 |
0.43 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.94 |
0.90 |
0.69 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.24 |
0.27 |
0.16 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
7.44 |
7.13 |
3.99 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.74 |
2.82 |
1.98 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.92 |
4.42 |
3.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
9.73 |
8.56 |
5.58 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets /
Current Liabilities) |
1.75 |
1.74 |
2.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.75 |
0.82 |
0.93 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.51 |
0.52 |
0.59 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
10.49 |
14.04 |
8.28 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.75 |
1.74 |
2.06 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 2/- |
|
Market Value |
INR 631.85/- |
FINANCIAL ANALYSIS
[all figures are
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 |
39.850 |
41.500 |
41.500 |
|
Reserves & Surplus |
700.274 |
869.637 |
957.581 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
740.124 |
911.137 |
999.081 |
|
|
|
|
|
|
Long-Term Borrowings |
0.779 |
26.006 |
32.070 |
|
Short Term Borrowings |
328.883 |
550.206 |
390.978 |
|
Current Maturities of Long term debt |
0.151 |
6.420 |
12.200 |
|
Total
borrowings |
329.813 |
582.632 |
435.248 |
|
Debt/Equity
ratio |
0.446 |
0.639 |
0.436 |
%20LIMITED%20-%20508302_files/image007.gif)
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 |
2159.327 |
2768.643 |
3552.417 |
|
|
|
28.218 |
28.309 |
%20LIMITED%20-%20508302_files/image010.gif)
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
|
2159.327 |
2768.643 |
3552.417 |
|
Profit |
42.703 |
78.007 |
97.170 |
|
|
1.98% |
2.82% |
2.74% |
%20LIMITED%20-%20508302_files/image012.gif)
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
41.500 |
41.500 |
39.850 |
|
(b) Reserves &
Surplus |
958.202 |
869.019 |
700.186 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
24.750 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
999.702 |
910.519 |
764.786 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
32.070 |
26.006 |
0.779 |
|
(b) Deferred tax liabilities
(Net) |
3.002 |
3.248 |
0.000 |
|
(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) |
35.072 |
29.254 |
0.779 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
390.977 |
550.206 |
328.883 |
|
(b) Trade payables |
366.124 |
178.148 |
138.244 |
|
(c) Other current
liabilities |
165.717 |
84.476 |
52.873 |
|
(d) Short-term provisions |
22.904 |
14.167 |
10.673 |
|
Total Current Liabilities
(4) |
945.722 |
826.997 |
530.673 |
|
|
|
|
|
|
TOTAL |
1980.496 |
1766.770 |
1296.238 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
191.802 |
195.593 |
118.141 |
|
(ii) Intangible Assets |
42.012 |
47.860 |
4.863 |
|
(iii) Capital
work-in-progress |
0.000 |
1.947 |
0.000 |
|
(iv) Intangible assets
under development |
10.941 |
1.024 |
1.024 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
3.238 |
|
(d) Long-term Loan and Advances |
89.414 |
86.122 |
77.764 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
334.169 |
332.546 |
205.030 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.099 |
0.617 |
|
(b) Inventories |
941.516 |
763.116 |
596.085 |
|
(c) Trade receivables |
582.919 |
541.043 |
401.900 |
|
(d) Cash and cash equivalents |
49.937 |
50.799 |
39.844 |
|
(e) Short-term loans and
advances |
22.227 |
33.609 |
11.577 |
|
(f) Other current assets |
49.728 |
45.558 |
41.185 |
|
Total Current Assets |
1646.327 |
1434.224 |
1091.208 |
|
|
|
|
|
|
TOTAL |
1980.496 |
1766.770 |
1296.238 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
3587.407 |
2785.190 |
2162.672 |
|
|
Other Income |
10.953 |
3.908 |
2.417 |
|
|
TOTAL |
3598.360 |
2789.098 |
2165.089 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost
of Materials Consumed |
319.061 |
350.020 |
234.880 |
|
|
Purchases of Stock-in-Trade |
1867.272 |
1352.697 |
1130.699 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(173.668) |
(154.085) |
(118.598) |
|
|
Employees benefits expense |
405.228 |
291.519 |
227.100 |
|
|
Other expenses |
940.018 |
743.998 |
560.191 |
|
|
Exceptional Items |
8.906 |
0.000 |
9.590 |
|
|
Exchange Fluctuation Loss /
(Gain) |
0.000 |
17.965 |
5.212 |
|
|
Extraordinary Items |
0.000 |
0.557 |
0.000 |
|
|
TOTAL |
3366.817 |
2602.671 |
2049.074 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
|
231.543 |
186.427 |
116.015 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
30.744 |
26.191 |
29.091 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
200.799 |
160.236 |
86.924 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
51.336 |
40.719 |
28.905 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
149.463 |
119.517 |
58.019 |
|
|
|
|
|
|
|
Less |
TAX |
51.071 |
42.022 |
15.404 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
98.392 |
77.495 |
42.615 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
Basic |
23.71 |
19.40 |
11.79 |
|
|
Diluted |
23.70 |
19.27 |
11.22 |
LEGAL
CASE
|
CITY CIVIL COURT, MUMBAI CASE DETAILS Case Type: SUIT - SHORT
CAUSE CIVIL SUIT Filing
Number: 107684/2016Filing Date: 12-07-2016 Registration
No.: 101987/2016Registration Date: 23-08-2016 CNR NO: MHCC01-007018-2016
Case Status First Hearing Date: 13th September 2016 Next Hearing Date: 05th December 2016 Stage of Case: DIRECTIONS
Petitioner and
Advocate 1)
M/s. SRC Express Cargo Private Limited Address
- 98/2110, G.R.No.6, Opp. Shanidev Temple, Tagore Nagar, Vikhroli East,
Mumbai-83 Advocate-
Megha Hasge Respondent and
Advocate 1)
M/s. Safari Industries (I) Limited Address
- 403, A-Wing, The Qube Business, Parkam Road, Andheri West, Near
International Airport, Mumbai-59 Acts
|
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners / Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
Industry Structure and Developments
The industry continues to post steady growth during the year. This growth is expected to continue due to rise in consumer demand fueled by increase in air travel, continuous shift of consumer preference from unbranded to branded products, wedding season based purchasing, consumers changing lifestyle and improvement in standard of living, increase in disposable income, rising urbanization and Government's focus to promote tourism.
Good growth was seen across channels and product categories. Hyper market and e-commerce channels continue to grow strongly mainly due to better and convenient shopping experience.
As per World Travel and Tourism council, Travel and Tourism generated US$7.6 trillion (10.2% of global GDP). The outlook for the Travel and Tourism sector in 2017 remains robust and will continue to be at the forefront of wealth and employment creation in the global economy, despite the emergence of a number of challenging headwinds. Direct Travel and Tourism GDP growth is expected to accelerate to 3.8%, up from 3.1% in 2016. Over the longer term, growth of the Travel and Tourism sector will continue to be strong so long as the investment and development takes place in an open and sustainable manner.
Company Development:
The Company witnessed a good growth in total revenue during the year, as it continues to develop into a well-diversified multi-brand, multi-channel and multi-category Company offering competitive and exciting range of products designed specifically for the tastes and preferences of its target consumers.
New product introductions supported by effective marketing spends to drive awareness among the consumers and robust distribution led to positive growth. Company continues to develop its multi-brand strategy during the year with Genius and Magnum brands to operate at wider price points and broader consumer demographics in each category.
To accelerate growth of acquired brands Genius and Genie, the Company is focusing on campus gear targeted towards Teenagers and Young Adults Segment. The brands have been re-launched with strategic intent of addressing all key segments of the fastest growing Short Haul segment.
The Company continues its thrust on polycarbonate and backpack product categories. It had introduced exciting prints and design options in the Poly Carbonate range of products. With consumers becoming more discerning, personalization and design values through prints are becoming more and more important. Further, it launched a new and extensive range of backpacks with a significant up gradation both in terms of design language and price.
The range was very well received in the markets across the channels and consumers.
The Company has improved its presence in Hypermarkets and has grown significantly in e-commerce channel.
The Company also operates from more than 50 exclusive retail stores.
Imported Soft luggage across product categories is the major contributor to the sales of the Company. During the year, rupee remained weak and the Company's buying costs of imported products remained high in rupee terms due to depreciation of rupee against USD which has put pressure on margins. The Company continues to leverage its sourcing cost to limit cost increases in dollar terms with the Chinese supplier due to its increased negotiating power. Further, due to intense competition, only some increases were passed on to customer through price increases which partially but not fully offset these increased costs. The Company has reduced its financing costs which has contributed positively.
OUTLOOK
Despite this competitive environment, the Company has strengthened its position in the travel lifestyle marketplace and is confident to grow faster than the market growth. The revenue is likely to keep growing at a steady rate due to new and better product offerings, robust distribution network and investments in brand building.
To meet the overall growth objectives, the Company continues to diversify its product offering with high quality, durability, functionality and innovative designs of its products across a broad range of price points and product categories.
The Company plans to drive visibility for its brands by creating high level of awareness among consumers and investing further in the brands to build sustainable brand strength as a key long term driver of growth. The Company is investing in system upgradation and have undertaken various infrastructure improvement initiatives to lay the foundations for long term growth and take our business to next level. However, the margins may continue to experience pressure on account of intense competition, advertisement spends etc.
Considering the threats, opportunities and the strengths of the Company, the key task at hand will be to make the most of the category and channel growth across all price segments and maintain margins to the best possible level without affecting volume growth. The Company will try to pass on some cost escalations through price increases and better price negotiations on purchase side. The Company will also manage other costs.
Considering the above, the outlook for the current year looks bright, except for unfavorable impact or potential disruption, if any, on account of rupee depreciation, GST, weaker consumer sentiment or other unforeseen circumstances.
STATEMENT OF
UN-AUDITED RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2017
(INR in million)
|
Particulars |
Quarter
Ended |
Nine months ended |
||||
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
||||
|
Unaudited |
Unaudited |
Unaudited |
||||
|
|
Income from
Operations |
|
|
|
||
|
|
Income from Operations |
1034.361 |
881.552 |
2988.001 |
||
|
|
Other Income |
4.782 |
1.573 |
8.487 |
||
|
|
Total Income from Operations
(Net) |
1039.143 |
883.125 |
2996.488 |
||
|
|
Expenses |
|
|
|
||
|
|
|
Cost of Materials consumed |
85.014 |
62.755 |
228.776 |
|
|
|
|
Purchase of stock in-trade |
589.313 |
387.526 |
1459.935 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(134.117) |
(11.575) |
(69.202) |
|
|
|
|
Excise duty |
0.000 |
0.000 |
27.233 |
|
|
|
|
Employee benefit expenses |
130.669 |
127.222 |
378.207 |
|
|
|
|
Finance Costs |
8.523 |
7.381 |
23.828 |
|
|
|
|
Depreciation and amortization expense |
19.974 |
13.304 |
46.942 |
|
|
|
|
Other expenses |
240.730 |
235.256 |
691.216 |
|
|
|
Total Expenses |
940.106 |
821.869 |
2786.935 |
||
|
|
|
Profit /(Loss)
before tax |
99.037 |
61.256 |
209.553 |
|
|
|
Tax Expense |
|
|
|
||
|
|
Current tax |
33.128 |
24.882 |
76.359 |
||
|
|
Deferred tax |
(1.888) |
0.513 |
(3.156) |
||
|
|
Tax for earlier periods |
0.039 |
0.767 |
0.806 |
||
|
|
Total Tax Expense |
31.279 |
26.162 |
74.009 |
||
|
|
|
|
|
|
||
|
|
|
Profit /(Loss) after tax |
67.758 |
35.094 |
135.544 |
|
|
|
Other Comprehensive
Income |
|
|
|
||
|
|
Actuarial Gain (Loss) on defined benefit plan |
(1.536) |
(1.536) |
(4.607) |
||
|
|
Tax Relating to these items |
0.531 |
0.544 |
1.594 |
||
|
|
Other Comprehensive Income |
(1.005) |
(0.992) |
(3.013) |
||
|
|
Total Other Comprehensive Income for the year |
66.753 |
34.102 |
132.531 |
||
|
|
Paid-up equity share capital (Face value INR 2/- per share) |
44.500 |
41.500 |
44.500 |
||
|
|
Earnings per share (EPS)
(INR) |
|
|
|
||
|
|
Basic |
3.11 |
1.69 |
6.43 |
||
|
|
Diluted |
3.10 |
1.69 |
6.41 |
||
NOTES:
1.The above Un-Audited Standalone financial results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 9th February, 2018. The Statutory Auditors of the Company have carried out Limited Review of the Un-Audited Standalone Financial Results for the quarter and nine months ended 31st December, 2017 in terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
2.Post the applicability of the Goods and Service Tax (GST) with effect from
1st July, 2017, revenue from operations are disclosed net of GST, whereas
Excise Duty formed part of expenses in previous periods. Accordingly, the
revenue from operations and expenses for the quarter and nine months ended 31st
December, 2017 are not comparable with the previous periods presented in the
results above.
3.The Company is engaged in luggage business only and therefore there is only
one reportable segment in accordance with Indian Accounting Standard (Ind AS)
108 "Operating Segments".
4.Pursuant to the approval of the shareholders of the Company vide their
resolution dated 30th August, 2017, the Company has sub-divided 1 share having
face value of INR 10/- each fully paid-up into 5 shares having face value of
INR 2/- each. For the purpose of the sub-division, the Company had fixed 25th
September 2017 as the record date (ex-date 22nd September 2017). Accordingly,
Earnings Per Share (EPS) for all the reported periods has been re-calculated.
5.During the quarter, the Company had allotted of 15,00,000 Equity shares
of INR 2/- each at a price of INR 340/- per share (inclusive of premium
of INR 338/- per share) aggregating to INR 51,00,00,000/- on Preferential basis
to non-promoters. Consequent to the said allotment, the paid up equity share
capital of the Company increased from INR 4,15,00,000/- representing
2,07,50,000 equity shares of INR 2/- each to INR 4,45,00,000/-
representing 2,22,50,000 equity shares
of INR 2/- each.
6(A).These financial results have been prepared in accordance with the Indian
Accounting Standards (Ind AS) prescribed under Section 133 of the Companies
Act, 2013 and other recognised accounting practices and policies to the extent
applicable. Ind AS has been made applicable to the Company with effect from 1st
April, 2017 and accordingly comparative figures for the corresponding period of
the previous year (transition date being 1st April, 2016) have been restated.
6(B).The reconciliation of financial results as previously reported in
accordance with Indian GAAP and Ind-AS is given below:
(INR in million)
|
Particulars |
Quarter
Ended |
Nine months ended |
|
|
31.12.2016 |
31.12.2016 |
||
|
Unaudited |
Unaudited |
||
|
|
|
|
|
|
|
Net Profit as per I-GAAP |
31.136 |
62.929 |
|
|
Add/(Less) : Adjustments in statement of profit |
|
|
|
|
Provision for expected sales return |
(0.381) |
(4.690) |
|
|
Actuarial losses of retirement benefits transferred to OCI |
0.444 |
0.925 |
|
|
MTM Loss on Forward Contracts |
(2.401) |
(2.403) |
|
|
ESOP expenses |
(0.701) |
(0.700) |
|
|
Taxes on above items |
1.052 |
2.377 |
|
|
Net Profit as per Ind AS |
29.149 |
58.438 |
|
|
Other Comprehensive Income (Net of Tax) |
(0.290) |
(0.605) |
|
|
Total Comprehensive Income |
28.859 |
57.833 |
6(C).The above results may require adjustment before constituting the first set of Ind AS financials as of and for the year ended 31st March, 2018 due to changes in financial reporting assumptions and application arising from new or revised standards or interpretations received or changes in the use of one or more optional exemptions as permitted in Ind AS 101.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G69895167 |
100148507 |
ICICI BANK LIMITED |
03/07/2017 |
- |
1200000.0 |
ICICI BANK TOWER,
NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAGU390007IN |
|
2 |
G60527884 |
100131830 |
ICICI BANK LIMITED |
24/06/2017 |
- |
500000.0 |
ICICI BANK TOWER, NEAR
CHAKLI CIRCLE,OLD PADRA ROADVADODARAGU390007IN |
|
3 |
G57605859 |
100128824 |
ICICI BANK LIMITED |
06/06/2017 |
- |
3500000.0 |
ICICI BANK TOWER,
NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAGU390007IN |
|
4 |
G46174454 |
100103536 |
KOTAK MAHINDRA PRIME
LIMITED |
27/04/2017 |
- |
1700000.0 |
27BKC, C 27, G
BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
5 |
G46474524 |
100104359 |
KOTAK MAHINDRA
PRIME LIMITED |
21/04/2017 |
- |
3800000.0 |
27BKC, C 27, G BLOCKBANDRA
KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
6 |
G40009193 |
100087549 |
AXIS BANK LIMITED |
08/03/2017 |
- |
1980000.0 |
CPC THANE, 1ST
FLOOR, DHIRAJ BAUG, LBS MARG, NEARHARINIWAS CIRCLE, THANE
(WEST)THANEMH400602IN |
|
7 |
G20573325 |
100030618 |
INDUSIND BANK LTD. |
10/03/2016 |
09/09/2016 |
275000000.0 |
2401 GEN THIMMAYYA
ROADCONTONMENTPUNEMA411001IN |
|
8 |
G74535931 |
10620714 |
HDFC BANK LIMITED |
24/12/2015 |
22/12/2017 |
236000000.0 |
HDFC BANK HOUSE,SENAPATI
BAPAT MARG,LOWER PAREL WEST,MUMBAI-400013MUMBAIMH400013IN |
|
9 |
C66152794 |
10594943 |
AXIS BANK LIMITED |
10/08/2015 |
- |
660000.0 |
GROUND FLOOR, 1ST
FLOOR, A.K. PLAZA, HOTEL GRANDSAROVAR PREMIERE, SV ROAD, GOREGAON/MALAD WESTMUMBAIMH400062IN |
|
10 |
G74619487 |
10371751 |
AXIS BANK LIMITED |
30/07/2012 |
08/12/2017 |
413000000.0 |
CORPORATE CREDIT
SERVICEUNIT,ANDHERI SENORITA,PLOT NO 21,GULMOHAR ROAD,VILE
PARLEMUMBAIMH400049IN |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR In Million) |
31.03.2016 (INR In Million) |
|
Counter Guarantees given by the Company |
8.018 |
8.326 |
|
Claims / demands against the Company by employees/ex-employees, disputed /not acknowledged as debts : |
Amount not ascertainable |
Amount not ascertainable |
|
Disputed Sales Tax Liabilities (Advance INR 1.413 Million) |
1.146 |
6.624 |
|
Rent and Telephone Bills Disputes |
0.000 |
0.008 |
|
Others |
0.000 |
0.893 |
|
Bonus for earlier years |
1.080 |
1.080 |
|
|
|
|
|
Total |
10.244 |
16.931 |
FIXED ASSETS:
TANGIBLE ASSETS
- Leasehold Land
- Buildings
- Plant and Machinery
- Computers
- Jigs, Tools and Dies
- Furniture, Fixture and Equipments
- Electrical Installation
- Office Equipments and Other Assets
- Vehicles
INTANGIBLE ASSETS
- Trademarks
- Computer Software
- Brand
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 67.38 |
|
|
1 |
INR 91.09 |
|
Euro |
1 |
INR 79.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
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.