|
|
|
MIRA INFORM REPORT
|
Report No. : |
508307 |
|
Report Date : |
11.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
POLYSET PLASTICS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
PREMO PLAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit Nos. 901-906,
9th Floor, Cello Triumph, I.B. Patel Road, Goregaon (East), Mumbai
– 400063, Maharashtra |
|
Tel. No.: |
91-22-32535677 / 66138043 / 66138000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation
: |
15.09.1973 |
|
|
|
|
Com. Reg. No.: |
11-016846 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 74.501 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1973PTC016846 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACP7373E2ZC |
|
|
|
|
TIN/CST No.: |
27520001408 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP7373E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of plastic injection moulding products. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 2070000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject was incorporated in the year 1973 and it is a manufacturer of plastic injection moulding products. As per the financials of March 2017, the company has registered a growth of 5.87% in its revenue as compared to its previous year’s revenue and reported good profit margin of 8.20% under review. Rating takes into consideration the company’s established track record of business operations marked by sound networth base along with strong debt coverage indicators and decent liquidity position. Rating also takes into account the extensive experience of the
promoters in the plastic moulding industry. Further, the company has reported a good earnings per share of INR
13.44 against its face value of INR 10. However, rating strength is partially offset by working capital
intensity in operations, exposure to intense competition in the plastic
housewares segment, and susceptibility to volatile polymer prices. Payments terms seems to be regular. In view of aforesaid, the subject can be considered for business
dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating= BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
05.05.2017 |
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 11.05.2018
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
Management Non-Cooperative (91-22-66138000)
LOCATIONS
|
Registered Office : |
Unit Nos.
901-906, 9th Floor, Cello Triumph, I.B. Patel Road, Goregaon
(East), Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-32535677 / 66138043 / 66138000 |
|
Mobile No.: |
91-7021989872 (Mr. Ashok Bharadva) |
|
Fax No.: |
91-22-66138001 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Bhupesh Premraj Bafna |
||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||
|
Address : |
501/502, Kumud, 15th Road, Khar (West), Mumbai – 400052,
Maharashtra, India |
||||||||||||||||||||
|
Date of Birth/Age : |
20.09.1969 |
||||||||||||||||||||
|
Date of Appointment : |
07.11.2011 |
||||||||||||||||||||
|
PAN No.: |
AACPB1911D |
||||||||||||||||||||
|
Voter ID No.: |
MT/08/036/421920 |
||||||||||||||||||||
|
DIN No.: |
00168325 |
||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Premraj Futarmal Bafna |
||||||||||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||||||||||
|
Address : |
501/502, Kumud, 15th Road, Khar (West), Mumbai – 400052,
Maharashtra, India |
||||||||||||||||||||
|
Date of Birth/Age : |
03.08.1935 |
||||||||||||||||||||
|
Date of Appointment : |
03.06.2010 |
||||||||||||||||||||
|
PAN No.: |
AACPB4330L |
||||||||||||||||||||
|
Voter ID No.: |
MT/08/036/420528 |
||||||||||||||||||||
|
DIN No.: |
00168555 |
||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Tolaram Hiranand Devnani |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
742, Seva Bhavan, 10th Road, Khar (West),
Mumbai – 400052, Maharashtra, India |
||||||||||||||||||||
|
Date of Appointment : |
28.02.2015 |
||||||||||||||||||||
|
DIN No.: |
07105504 |
||||||||||||||||||||
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|
|
||||||||||||||||||||
|
Name : |
Anjuu Baafna Shailesh |
||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||
|
Address : |
The Nest Flat No 51/52, 4th
Gulmohar Road, JVPD Juhu, Mumbai – 400049, Maharashtra, India |
||||||||||||||||||||
|
Date of Appointment : |
01.03.2017 |
||||||||||||||||||||
|
DIN No.: |
07752788 |
||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Deepal Shah |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 104, Raunak Villa, 19/1, Racecourse Road, Indore – 452003, Madhya Pradesh, India |
|
Date of Appointment : |
01.09.2017 |
|
PAN No.: |
FZBPS8355F |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Premraj F. Bafna |
|
217300 |
|
Madanlata Premraj Bafna Jointly with Premraj Futarmal Bafna |
|
79680 |
|
Madanlata P. Bafna Jointly with Priti B. Bafna |
|
120000 |
|
Madanlata Premraj Bafna |
|
431960 |
|
Mehul Finance and Investments Private Limited, India |
|
2422700 |
|
Anju Shailesh Bafna |
|
1106800 |
|
Bhupesh P. Bafna |
|
231000 |
|
Premraj F. Bafna H.U.F. |
|
1000 |
|
Premraj Futarmal Bafna Jointly with Madanlat Premraj Bafna |
|
1289000 |
|
Bhupesh Premraj Bafna Jointly with Priti Bhupesh Bafna |
|
1229700 |
|
Priti Bhupesh Bafna Jointly with Bhupesh Premraj Bafna |
|
147310 |
|
Priti Bhupesh Bafna |
|
19200 |
|
Bhupesh P. Bafna Jointly with Premraj F. Bafna |
|
154400 |
|
Saroj K. Jain Jointly With Kirti P. Jain |
|
10 |
|
Anita Sanjay Pagaria |
|
10 |
|
Shikha Shailesh Bafna |
|
10 |
|
|
|
|
|
Total |
|
7450080 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
67.48 |
|
Promoters [Bodies
corporate] |
32.52 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of plastic injection moulding products. [Registered Activity] |
||||
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|
||||
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Products / Services
: |
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||||
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||||
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Brand Names : |
Not Available |
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|
||||
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
||||
|
|
|
||||
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Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
Information denied by the management |
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|
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Bankers : |
|
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|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Shyam Malpani and Associates Chartered Accountants |
|
Address : |
N
9-12, Ganpati Niwas, Bangur Nagar, Goregaon (West), Mumbai – 400090,
Maharashtra, India |
|
PAN No.: |
AUPPS3706A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises where
control exists (Associates) : |
· Mehul Finance and Investment Private Limited · Power Mould · Anju Techno Industries |
|
|
|
|
Other related party : |
· P.F. Bafna (HUF) |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
INR 10/- each |
INR 90.000 Million |
|
300000 |
Preference Shares |
INR 100/- each |
INR 30.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 120.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7450080 |
Equity Shares |
INR 10/- each |
INR 74.501 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 |
74.501 |
74.501 |
74.501 |
|
(b) Reserves & Surplus |
650.679 |
584.140 |
532.010 |
|
(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) |
725.180 |
658.641 |
606.511 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
7.977 |
36.606 |
8.808 |
|
(b) Deferred tax liabilities (Net) |
63.985 |
55.566 |
46.607 |
|
(c) Other long term
liabilities |
0.341 |
0.341 |
0.341 |
|
(d) Long-term
provisions |
19.358 |
11.097 |
6.670 |
|
Total Non-current
Liabilities (3) |
91.661 |
103.610 |
62.426 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
204.297 |
181.671 |
147.808 |
|
(b) Trade
payables |
112.338 |
74.558 |
60.747 |
|
(c) Other
current liabilities |
34.842 |
40.073 |
68.759 |
|
(d) Short-term
provisions |
36.799 |
2.522 |
19.841 |
|
Total Current
Liabilities (4) |
388.276 |
298.824 |
297.155 |
|
|
|
|
|
|
TOTAL |
1205.117 |
1061.075 |
966.092 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
412.523 |
401.946 |
357.095 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.092 |
0.003 |
0.027 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
12.221 |
2.221 |
2.221 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
121.581 |
120.467 |
123.215 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
546.417 |
524.637 |
482.558 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
267.652 |
247.547 |
214.570 |
|
(c) Trade
receivables |
247.176 |
178.064 |
126.884 |
|
(d) Cash
and cash equivalents |
10.794 |
8.645 |
5.528 |
|
(e)
Short-term loans and advances |
133.078 |
102.182 |
136.552 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
658.700 |
536.438 |
483.534 |
|
|
|
|
|
|
TOTAL |
1205.117 |
1061.075 |
966.092 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
1221.184 |
1153.467 |
970.444 |
|
|
Other Income |
9.885 |
3.867 |
23.210 |
|
|
TOTAL |
1231.069 |
1157.334 |
993.654 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
474.813 |
456.687 |
460.837 |
|
|
Purchases of
Stock-in-Trade |
23.771 |
25.431 |
17.236 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
11.906 |
(15.800) |
0.706 |
|
|
Employee benefit expense |
160.843 |
141.977 |
89.826 |
|
|
CSR expenditure |
0.210 |
1.075 |
1.775 |
|
|
Other expenses |
336.461 |
332.490 |
276.792 |
|
|
Exceptional items |
0.000 |
0.000 |
(11.074) |
|
|
TOTAL |
1008.004 |
941.860 |
836.098 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
223.065 |
215.474 |
157.556 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
36.933 |
41.081 |
39.313 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
186.132 |
174.393 |
118.243 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
32.923 |
30.336 |
29.829 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
153.209 |
144.057 |
88.414 |
|
|
|
|
|
|
|
Less |
TAX |
53.079 |
56.060 |
28.314 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
100.130 |
87.997 |
60.100 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
13.44 |
11.81 |
8.07 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
180.282 |
135.061 |
167.793 |
|
Net cash flows from (used in) operating activities |
128.516 |
89.588 |
129.010 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days (Sundry Debtors /
Income * 365 Days) |
73.88 |
56.35 |
47.72 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.94 |
6.48 |
7.65 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
82.24 |
56.45 |
46.38 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.83 |
0.87 |
0.73 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.54 |
0.54 |
0.44 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current
Liabilities) / Total Assets) |
0.33 |
0.32 |
0.32 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.29 |
0.33 |
0.26 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.54 |
0.45 |
0.49 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.57 |
0.61 |
0.59 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
6.04 |
5.25 |
4.01 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
8.20 |
7.63 |
6.19 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
8.31 |
8.29 |
6.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
13.81 |
13.36 |
9.91 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets /
Current Liabilities) |
1.70 |
1.80 |
1.63 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.01 |
0.97 |
0.91 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.60 |
0.62 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.85 |
2.93 |
2.10 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.70 |
1.80 |
1.63 |
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 |
74.501 |
74.501 |
74.501 |
|
Reserves & Surplus |
532.010 |
584.140 |
650.679 |
|
Net
worth |
606.511 |
658.641 |
725.180 |
|
|
|
|
|
|
Long-term borrowings |
8.808 |
36.606 |
7.977 |
|
Short term borrowings |
147.808 |
181.671 |
204.297 |
|
Total
borrowings |
156.616 |
218.277 |
212.274 |
|
Debt/Equity
ratio |
0.258 |
0.331 |
0.293 |
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 |
970.444 |
1153.467 |
1221.184 |
|
|
|
18.860 |
5.871 |
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 |
970.444 |
1153.467 |
1221.184 |
|
Profit/ (Loss) |
60.100 |
87.997 |
100.130 |
|
|
6.19
% |
7.63
% |
8.20
% |
LEGAL CASES
|
HIGH COURT
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
High court
|
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 |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last 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 |
OPERATIONS
During the year, the Company has achieved turnover of INR 1231.069 million as compared to INR 1157.333 million for the previous year and the profit for the year is INR 100.130 million as compare to INR 87.997 million for the previous year.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Deferred payment liabilities |
1.165 |
2.763 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from others |
0.000 |
16.600 |
|
Intercorporate borrowings |
0.000 |
30.743 |
|
Intercorporate deposits |
18.919 |
0.000 |
|
Loans and advances from related parties |
32.465 |
17.452 |
|
|
|
|
|
Total |
52.549 |
67.558 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G76575109 |
100153689 |
YES BANK LIMITED |
17/01/2018 |
- |
- |
30000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BASANT ROAD, WORLIMUMBAIMH400018IN |
|
2 |
G42775445 |
100078176 |
YES BANK LIMITED |
24/01/2017 |
03/03/2017 |
- |
30000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIADR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
|
3 |
G76575901 |
10569684 |
YES BANK LIMITED |
30/03/2015 |
17/01/2018 |
- |
250000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIADR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
|
4 |
Y10264476 |
90163229 |
SICOM LIMITED |
27/09/1995 |
- |
- |
15000000.0 |
NIRMAL; 1ST FLOOR; NARIMANN POINTANDHERI EASTMUMBAIMH400021IN |
|
5 |
Y10264224 |
90162977 |
THE INDUSTRIAL CREDIT AND INVESTMENT CORPORTION OF INDIA LIM |
28/07/1994 |
12/04/1996 |
- |
50000000.0 |
163; BACKBAY RECLATIONMUMBAIMH 400020IN |
|
6 |
Y10263463 |
90162216 |
SICOM LIMITED |
22/12/1988 |
20/12/1999 |
- |
8000000.0 |
NIRMAL; 1ST FLOOR ;NARIMAN POINTMUMBAIMH400021IN |
|
7 |
Y10263279 |
90162032 |
THE STATE INDUSTRIAL AND INVESTMENT CORPORTION OF MAHARASH |
03/03/1987 |
24/10/1989 |
- |
8000000.0 |
NIRMAL 1ST FLOOR; NARIMAN POINTMUMBAIMH400021IN |
|
8 |
G36848760 |
10567753 |
FIRSTRAND BANK LIMITED |
21/04/2015 |
03/10/2015 |
22/02/2017 |
110000000.0 |
TCG FINANCIAL CENTRE PLOT NO C 53 G BLOCKBANDRA KURLA COMPLEXMUMBAIMH400051IN |
|
9 |
C57738395 |
90162477 |
STATE BANK OF INDIA |
25/03/1991 |
- |
18/06/2015 |
3400000.0 |
INDUSTRIAL FINANCE BRANCHANDERI EASTMUMBAIMH400069IN |
|
10 |
C57732760 |
90161987 |
STATE BANK OF INDIA |
20/10/1986 |
- |
18/06/2015 |
770000.0 |
ANDHERI EAST BRANCHMUMBAIMH400069IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 66.66 |
|
|
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
RKI |
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.