|
|
|
MIRA
INFORM REPORT
|
Report No. : |
507890 |
|
Report Date : |
14.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
ANAND ARC LIMITED (w.e.f.05.09.2007) |
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|
|
|
Formerly Known
As : |
ANAND ARC PRIVATE LIMITED (w.e.f.06.07.2007) ANAND ARC ELECTRODES PRIVATE LIMITED |
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Registered
Office : |
701, Trade Centre, Bandra Kurla Complex, Bandra (East), Mumbai – 400051,
Maharashtra |
|
Tel. No.: |
91-22-42688400 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
21.10.1987 |
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Com. Reg. No.: |
11-045076 |
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Capital
Investment / Paid-up Capital : |
INR 12.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109MH1987PLC045076 |
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|
|
|
IEC No.: [Import-Export Code No.] |
0391139924 |
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TIN No.: |
27700000436 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACA3242M1ZR |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACA3242M |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of Manufacturing Welding Electrodes, Copper Coated Wires, Flux Cored Wires and Welding Fluxes. [Registered Activity and also Confirmed by Management] |
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|
|
|
No. of Employees
: |
470 [Approximately] [In Office: 120 and In Factory: 350] |
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 : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1987 and it is engaged in manufacturing of welding electrodes, copper coated wires, flux cored and welding fluxes. As per financials of March 2017, the company has registered marginal growth in its revenue but has reported losses. Rating takes into consideration the company’s established track record of business operations marked by sound net worth base along with average debt coverage indicators and decent liquidity position. Rating also takes into account the experience and resourceful promoters of the company. Further, rating strength is partially offset by working capital nature of operations, susceptibility to margins to raw material volatility with foreign exchange fluctuation risk and its presence in highly fragmented and competitive nature of industry. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
CARE |
|
Rating |
Long Term Bank = BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
09.01.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank = A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
09.01.2018 |
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 14.05.2018.
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 : |
Ms. Varsha Peswami |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-42688484 |
|
Date : |
09.05.2018 |
LOCATIONS
|
Registered / Head / Corporate Office : |
701, Trade Centre, Bandra Kurla Complex, Bandra (East), Mumbai – 400051,
Maharashtra, India |
|
Tel. No.: |
91-22-42688400 / 26508282/ 42688484/
26508383 |
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Fax No.: |
91-22-42688400 |
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E-Mail : |
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Website : |
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|
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Factory 1 : |
26, Ambika Udyog, Old Satpati Road, Palghar (West), Mumbai
– 401404, Maharashtra,
India |
|
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Factory 2 : |
Plot No. 49, 51, 896, 897, New Satpati Road, Palghar (West),
Mumbai – 401404, Maharashtra, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Murlidhar Hargundas Purswani |
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|
Designation : |
Managing Director |
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|
Address : |
1301, Vrindavan, 32 Mount Marry Road, Bandra (West),
Mumbai – 400050, Maharashtra, India |
||||||||||||
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Date of Birth/Age : |
07.09.1949 |
||||||||||||
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Date of Appointment : |
21.10.1987 |
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DIN No.: |
00395182 |
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Other Directorship:
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|
||||||||||||
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Name : |
Mr. Anand Murlidhar Purswani |
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Designation : |
Director |
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|
Address : |
1301, Vrindavan, 32 Mount Marry Road, Bandra (West),
Mumbai – 400050, Maharashtra, India |
||||||||||||
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Date of Birth/Age : |
05.07.1975 |
||||||||||||
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Date of Appointment : |
25.09.2001 |
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DIN No.: |
00395232 |
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|
||||||||||||
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Name : |
Mrs. Rekha Murlidhar Purswani |
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|
Designation : |
Director |
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|
Address : |
1301, Vrindavan, 32 Mount Marry Road, Bandra (West),
Mumbai – 400050, Maharashtra, India |
||||||||||||
|
Date of Appointment : |
21.10.1987 |
||||||||||||
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DIN No.: |
00395267 |
||||||||||||
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|
||||||||||||
|
Name : |
Mr. Girish Purswani Murlidhar |
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Designation : |
Director |
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|
Address : |
1301, Vrindavan, 32 Mount Marry Road, Bandra (West),
Mumbai – 400050, Maharashtra, India |
||||||||||||
|
Date of Appointment : |
01.11.2011 |
||||||||||||
|
DIN No.: |
03635560 |
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KEY EXECUTIVES
|
Name : |
Ms. Varsha Peswami |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Murlidhar Purswani |
637500 |
51.00 |
|
Rekha Purswani |
211750 |
16.94 |
|
Anand Purswani |
200000 |
16.00 |
|
Girish Purswani |
200000 |
16.00 |
|
Kiran Purswani |
250 |
0.02 |
|
Bindra Purswani |
125 |
0.01 |
|
Balraj Kalra |
125 |
0.01 |
|
Anand Purswani (HUF) |
125 |
0.01 |
|
Manisha Purswani |
125 |
0.01 |
|
|
|
|
|
Total |
1250000 |
100.00 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Manufacturing Welding Electrodes, Copper Coated Wires, Flux Cored Wires and Welding Fluxes. [Registered Activity and also Confirmed by Management] |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Egypt ·
Indonesia ·
European Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
China |
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Terms : |
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Selling : |
L/C, Cheque and Other [RTGS/ NEFT] |
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Purchasing : |
L/C, Cheque and Other [RTGS/ NEFT] |
PRODUCTION STATUS: [NOT AVAILABLE]
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Retailers
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No. of Employees : |
470 [Approximately] [In Office: 120 and In Factory: 350] |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Mr. Gurmukhsingh Hirasingh Purswani Chartered Accountant |
|
Address : |
1403, A-Wing, Jyoti Co-operative Society, Building No. 89, Tilak
Nagar, Chembur, Mumbai – 400089, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
ABTPP0394E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AFTER
30.09.2017
Authorised Capital : INR 20.000
Million
Issued, Subscribed & Paid-up Capital : INR 15.000 Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
INR 10/- each |
INR 12.500 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 |
12.500 |
2.500 |
2.500 |
|
(b) Reserves & Surplus |
89.325 |
99.521 |
99.428 |
|
(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) |
101.825 |
102.021 |
101.928 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
292.161 |
246.019 |
215.047 |
|
(b) Deferred tax liabilities (Net) |
0.854 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.277 |
0.277 |
|
Total
Non-current Liabilities (3) |
293.015 |
246.296 |
215.324 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
114.150 |
130.998 |
118.011 |
|
(b)
Trade payables |
28.133 |
10.129 |
25.513 |
|
(c)
Other current liabilities and provisions |
21.323 |
22.192 |
31.238 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
163.606 |
163.319 |
174.762 |
|
|
|
|
|
|
TOTAL |
558.446 |
511.636 |
492.014 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
223.695 |
158.331 |
117.492 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.291 |
0.307 |
|
(d) Long-term Loan and Advances |
0.466 |
20.260 |
21.792 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
224.161 |
178.882 |
139.591 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
186.475 |
176.319 |
166.216 |
|
(c)
Trade receivables |
103.226 |
107.383 |
124.141 |
|
(d)
Cash and cash equivalents |
6.736 |
10.153 |
6.524 |
|
(e)
Short-term loans and advances |
37.284 |
38.612 |
55.002 |
|
(f)
Other current assets |
0.564 |
0.287 |
0.540 |
|
Total
Current Assets |
334.285 |
332.754 |
352.423 |
|
|
|
|
|
|
TOTAL |
558.446 |
511.636 |
492.014 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
721.676 |
703.990 |
710.850 |
|
|
|
Other Income |
1.593 |
3.410 |
1.142 |
|
|
|
TOTAL |
723.269 |
707.400 |
711.992 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
568.268 |
514.764 |
560.038 |
|
|
|
(Increase)/ Decrease in Inventories |
(29.476) |
23.612 |
(22.362) |
|
|
|
Employees benefits expense |
22.610 |
21.059 |
24.850 |
|
|
|
Other expenses |
114.920 |
117.678 |
116.108 |
|
|
|
TOTAL |
676.322 |
677.113 |
678.634 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
46.947 |
30.287 |
33.358 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
20.928 |
12.544 |
12.872 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
26.019 |
17.743 |
20.486 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
24.905 |
16.645 |
19.543 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX |
1.114 |
1.098 |
0.943 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.372 |
0.407 |
0.303 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(0.258) |
0.691 |
0.640 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Exports |
128.440 |
154.999 |
214.843 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material and Goods for Trading |
11.432 |
33.861 |
12.992 |
|
|
|
Capital Goods |
33.488 |
0.000 |
13.505 |
|
|
TOTAL IMPORTS |
44.920 |
33.861 |
26.497 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (INR) |
(0.21) |
2.76 |
2.56 |
|
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 |
54.060 |
9.620 |
13.485 |
|
|
|
|
|
|
Net Cash Generated from Operations |
52.687 |
9.213 |
13.182 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
52.21 |
55.68 |
63.74 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.99 |
6.56 |
5.73 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
18.07 |
7.18 |
16.63 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.25 |
0.17 |
0.20 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.21 |
0.19 |
0.28 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.82 |
0.80 |
0.79 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
3.99 |
3.70 |
3.27 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.61 |
1.60 |
1.71 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.20 |
1.55 |
1.15 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.24 |
2.41 |
2.59 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(0.04) |
0.10 |
0.09 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(0.05) |
0.14 |
0.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(0.25) |
0.68 |
0.63 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.04 |
2.04 |
2.02 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.90 |
0.96 |
1.07 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.18 |
0.20 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
32.50 |
150.81 |
133.22 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.04 |
2.04 |
2.02 |
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
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
2.500 |
2.500 |
12.500 |
|
Reserves & Surplus |
99.428 |
99.521 |
89.325 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
101.928 |
102.021 |
101.825 |
|
|
|
|
|
|
Long-term borrowings |
215.047 |
246.019 |
292.161 |
|
Short term borrowings |
118.011 |
130.998 |
114.150 |
|
Total
borrowings |
333.058 |
377.017 |
406.311 |
|
Debt/Equity
ratio |
3.268 |
3.695 |
3.990 |
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 |
710.850 |
703.990 |
721.676 |
|
|
|
(0.965) |
2.512 |
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 |
710.850 |
703.990 |
721.676 |
|
Profit/(loss) |
0.640 |
0.691 |
(0.258) |
|
|
0.09% |
0.10% |
(0.04%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
A18513952 |
10059214 |
STATE BANK OF INDIA |
15/06/2007 |
- |
- |
34500000.0 |
GHATKOPAR (WEST)
BRANCH, DEVELOPMENT BANKINGDIVISION, L.B.S. MARG, ASHOK MILL
COMPOUND,MUMBAIMH400086IN |
|
2 |
Y10327618 |
90224827 |
STATE BANK OF INDIA |
02/08/1997 |
- |
- |
3000000.0 |
BHANDUP (W)
BRANCHMUMBAIMHIN |
|
3 |
Y10325569 |
90222778 |
STATE BANK OF INDIA |
06/07/1997 |
01/08/1997 |
- |
6500000.0 |
BHANDUP
BRANCHMUMBAIMHIN |
|
4 |
G79527479 |
90235791 |
STATE BANK OF INDIA |
06/07/1997 |
28/02/2018 |
- |
250000000.0 |
SPECIALISED S.I.B.
BRANCH, HOTEL AIRWAYS BLDG,GROUND FLOOR, L.B.S. MARG, GHATKOPAR
(WEST),MUMBAIMH400086IN |
|
5 |
Y10327018 |
90224227 |
STATE BANK OF INDIA |
05/02/1991 |
- |
- |
900000.0 |
BHANDUP
BRANCHBHANDUPMUMBAIMH400078IN |
|
6 |
B71682736 |
10062079 |
ICICI BANK LIMITED |
11/07/2007 |
- |
07/03/2013 |
821217.0 |
LANDMARKRACE COURCE
CIRCLEALKAPURIBARODAGJ390015IN |
CORPORATE INFORMATION
The company is a public limited company incorporated on 21st
October 1987. It is engaged in the business of manufacturing welding
electrodes, copper coated wires, flux cored wires and welding fluxes. The manufacturing
activities are located at Palghar. The company caters to both domestic and
international markets.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Bank guarantees outstanding |
5.060 |
4.960 |
|
Disputed income tax as the matter is in appeal [advance paid INR
0.840) million] |
5.600 |
0.000 |
FIXED ASSETS:
· Land
· Building Construction
· Computer
· Dyes
· Electrical Installation
· Electrical Panel for Furniture
· Furniture and Fixture
·
Office Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 67.22 |
|
UK Pound |
1 |
INR 90.88 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.