MIRA INFORM REPORT

 

 

Report No. :

509795

Report Date :

17.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

GMMCO LIMITED (w.e.f 26.08.1991)

 

 

Formerly Known As :

GENERAL MARKETING AND MANUFACTURING COMPANY LIMITED

 

 

Registered Office :

9/1, R. N. Mukherjee Road, Kolkata – 700001, West Bengal

Tel. No.:

91-33-39181710

 

 

Country :

India

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

30.12.1966

 

 

Com. Reg. No.:

21-026980

 

 

Capital Investment / Paid-up Capital :

INR 48.673 Million

 

 

CIN No.:

[Company Identification No.]

U35202WB1966PLC026980

 

 

IEC No.:

[Import-Export Code No.]

0288008111

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCG0949C

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Dealership of various equipments viz construction, mining, engines, DG sets and automotives and spare parts. (Registered Activity)

 

 

No. of Employees :

Not Divulged

 

 

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+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject was incorporated in the year 1966 and is a part of CK Birla group. It is engaged in dealership of various equipment’s viz. construction, mining, engines, DG sets and automotive and spare parts.

 

As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources.

 

As per the financial record of 2016, the company has achieved a decent growth in its revenue and has reported profitability margin of 2.83%.

 

Rating takes into consideration the company’s favourable earnings per share (EPS) on INR 107.27 against the Face value (FV) of INR 10.

 

The company possesses strong financial position marked by above average net worth base and comfortable debt level.

 

Rating also takes into consideration the company’s established track record of business operation, promoter’s extensive industry experience and the strength that the company derives from the Birla Group.

 

Business is active. Payments seems to be regular and as per commitment.

 

In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and condition. 

 

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 Loans (AA)

Rating Explanation

High degree of safety and very low credit risk.

Date

29.12.2017

 

Rating Agency Name

CARE

Rating

Short Term Loans (AA)

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

29.12.2017

 

 

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 Reconstuction) 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 17.05.2018

 

 

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. Lawkush Prasad

Designation :

Company Secretary

Tel. No:

91-33-39181710

Date:

16.05.2018

 

 

LOCATIONS

 

Registered Office :

9/1, R N Mukherjee Road, Kolkata – 700001, West Bengal, India

Tel. No.:

91-33-39181710

Fax No.:

91-33-39181706

E-Mail :

neical@vsnl.com

neical@nbcbearings.in

lawkushprasad.b@gmmcoindia.com

Website :

http://www.gmmco.in

 

 

Corporate Office:

8th Floor, Birla Tower, No.25, Barakhamba Road, Connaught Place, New Delhi - 110001, India

 

 

Head Office:

Plot No B-11/A, IDA, Uppal, Hyderabad – 500039, Telangana, India

 

 

Rental Stores 1:

No.6, G.S.T. Road, St Thomas Mount, Chennai -600016, Tamilnadu, India

 

 

Rental Stores 2:

Survey No.90, At/Post-Sategaon, Taluka-Maval, Near Vadgaon, Old Pune – Mumbai Highway, Sategaon, District Pune – 412106, Maharashtra, India

 

 

Branch office:

Plot No. 63 A, Hootagalli Industrial Area, Belavadi Post, Mysore-570 018, Karnataka, India

 

 

Branch Office:

Plot No. G 15, M.I.D.C. Industrial Area. Central Hingna Road, Nagpur-440028, Maharashtra, India

 

 

Branch Office/ Rental Stores:

Located At:

 

  • Tamilnadu
  • Kerala
  • Andhra Pradesh
  • Madhya Pradesh
  • New Delhi
  • Jharkhand
  • Goa
  • West Bengal
  • Odissa
  • Chhattisgarh
  • Gujarat
  • Maharashtra
  • Karnataka

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Hariharan Jayaram

Designation :

Managing Director

Address :

Villa No. 2, Block No. 12, Bollineni Hill Side, Nookampalayam, Sithalapakkam Post, Chennai – 600126, Tamil Nadu, India

Date of Birth/Age :

15.05.1956

Qualification:

BSC (Eng.). MBA

Date of Appointment :

01.01.2013

PAN No.:

AAHPH7981E

Election Commission Identity:

LMG3190469

DIN No.:

01019810

 

Name :

Mr. Manohar Lal Pachisia

Designation :

Director

Address :

The Hermitage Building, 3rd Floor, 4, Alipore Park Place, Kolkata - 700027,  West Bengal, India

Date of Birth/Age :

06.11.1944

Qualification:

B Com

Date of Appointment :

11.03.2015

PAN No.:

AFWPP9731L

DIN No.:

00065431

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U67190WB1901PLC210002

GWALIOR FINANCE CORPORATION LIMITED

27/05/1996

-

U29130RJ1948PLC000583

NATIONAL BEARING COMPANY (JAIPUR) LIMITED

28/12/2005

-

U29130WB1946PLC013643

NATIONAL ENGINEERING INDUSTRIES LIMITED

21/03/1994

-

U70109WB1946PLC014112

BIRLA BUILDINGS LIMITED

09/12/2002

-

U74899DL1995PLC064560

BIRLASOFT (INDIA) LIMITED

07/07/2006

-

U72200DL1999PLC100410

BIRLASOFT ENTERPRISES LTD

21/12/2005

-

U51900WB1966PLC026949

SOORYA VANIJYA & INVESTMENTS LTD.

16/10/1998

-

U29299WB1960PLC024693

SPECIAL ENGG. SERVICES LTD

30/08/2011

-

U31900OR2012PLC015356

ORIENT ELECTRICALS LIMITED

09/05/2012

-

L21011OR1936PLC000117

ORIENT PAPER AND INDUSTRIES LTD.

23/09/2008

-

U31100OR2016PLC025892

ORIENT ELECTRIC LIMITED

10/10/2016

-

 

 

Name :

Mr. Kashi Prasad Chaudhary

Designation :

Director

Address :

Flat No. 5, 9th Floor, 3 - B Camac Street, Kolkata - 700016, West Bengal, India

Date of Birth/Age :

05.01.1941

Qualification:

B Com (Hons) LLB, FCA, FCS, FICWA

Date of Appointment :

08.07.2014

PAN No.:

ABVPC3640A   

Election Commission Identity:

WB/23/146/072115

DIN No.:

00369615

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U29130RJ1948PLC000583

NATIONAL BEARING COMPANY (JAIPUR) LIMITED

30/03/1992

-

U14219RJ1949PLC000700

RAJASTHAN INDUSTRIES LIMITED.

30/01/1988

-

U67120RJ1949PLC000703

PRODUCE AND SHARE BROKERS LTD

29/06/1984

-

U14299WB1961PLC024975

INDIA SILICA MAGNESITE WORKS LTD.

29/06/1981

-

U65993WB1978PLC031357

MADHUSUDAN HOLDINGS LTD

20/12/1978

-

U65993WB1988PTC044393

BALSAM INVESTMENT & TRADING COMPANY PVT LTD

29/06/2001

-

U70200WB1989PLC046103

NEI PROPERTIES LTD.

01/02/1989

-

L17119WB1935PLC046111

THE RAMESHWARA JUTE MILLS LTD

29/09/2005

-

U65910WB1990PLC099477

BIRLA FINANCE LIMITED

12/09/1990

-

U67120WB1946PLC013689

ASHOK INVESTMENT CORPORATION LTD.

04/10/1999

-

 

 

Name :

Mr. Jagdish Prasad Chhaochharia

Designation :

Director

Address :

6 C, Short Street, Kolkata - 700016, West Bengal, India

Date of Birth/Age :

26.11.1931

Qualification:

Qualified By Experience

Date of Appointment :

08.02.2001

PAN No:

ACKPC7110R

Election Commission Identity:

WB/23/146/012055

DIN No.:

00065287

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U67190WB1901PLC210002

GWALIOR FINANCE CORPORATION LIMITED

03/11/1969

-

U29130RJ1948PLC000583

NATIONAL BEARING COMPANY (JAIPUR) LIMITED

28/06/1994

-

U52500WB1928PLC005895

BENGAL STORES LTD.

22/09/1986

-

U70101WB1932PLC007341

BASANT PROPERTIES LTD.

15/06/2005

-

U65191WB1935PLC008270

JUTE INVESTMENT CO LTD

28/09/2005

-

U51909WB1947PLC015860

CHHOTANAGPUR GENERAL TRADING CO LTD

22/08/1994

-

U65191WB1955PLC022651

EASTERN INDIA SERVICES & MARKETING CO.LTD.

20/09/1999

-

U67120WB1946PLC013689

ASHOK INVESTMENT CORPORATION LTD.

29/04/1984

-

 

Name :

Ms. Nandini Khaitan

Designation :

Director

Address :

3, Queens Park, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

15.02.1980

Date of Appointment :

09.03.2015

PAN No:

AJFPK2129N

DIN No.:

06941351

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L67120AS1971PLC001358

WILLIAMSON FINANCIAL SERVICES LIMITED

19/09/2014

-

L21300WB1973PLC028854

INTERNATIONAL CONVEYORS LTD.

26/09/2014

-

L15500WB1997PLC085661

DHUNSERI TEA & INDUSTRIES LIMITED

14/08/2015

-

L25209WB1997PLC085972

XPRO INDIA LIMITED

14/08/2015

-

 

Name :

Mr. Yogesh Goenka

Designation :

Additional Director

Address :

F-10, First Floor, Kailash Colony, New Delhi – 110048, India

Date of Birth/Age :

19.09.2016

DIN No.:

01779588

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U02710WB1938PLC209971

CENTRAL INDIA INDUSTRIES LTD.

30/03/2015

-

U15421WB1934PLC008026

RANCHI ENTERPRISES AND PROPERTIES LTD.

20/07/2015

-

U70101WB1932PLC007341

BASANT PROPERTIES LTD.

20/07/2015

-

U35201WB1932PLC007342

PILANI PROPERTIES LTD

20/07/2015

-

U65923WB1961PLC025330

HM EXPORT LTD

31/01/2017

-

 

 

 

KEY EXECUTIVES

 

Name :

Mr. Babu Lal Patni

Designation :

Company Secretary

Address :

51, Nalini Sett Road, 5th Floor, Room No. 19, Kolkata – 700007, West Bengal, India

Date of Appointment :

23.04.2016

PAN No.:

AEPPP3080C

Tel. No:

91-33-22597715/6

Email:

patnibl@yahoo.com

 

 

Name :

Mr. Lawkush Prasad

Designation :

Company Secretary

Address :

2/171D/1, Sree Colony, P.O. - Regent Estate, Kolkata-700092, West Bengal, India

Date of Appointment :

09.02.2016

PAN No.:

AOBPP0871M

 

 

Name :

Rajendra Kumar Parwal

Designation :

Chief Finance Officer

Address :

C-2, Block - I, Y.S. Enclave, 134A, Arcot Road, Saligramam, Chennai-600093, Tamilnadu, India

Date of Appointment :

10.05.2012

PAN No.:

AAGPR2130J

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on: 31.03.2017

 

SHAREHOLDING DETAILS FILE ATTACHED

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 28.07.2017

 

Category

Percentage

Promoters - Body corporate

97.50

Public/Other than promoters - Individual/Hindu Undivided Family – India

0.05

Public/Other than promoters – Financial Institutions

0.20

Public/Other than promoters - Body corporate

2.25

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Dealership of various equipment’s viz construction, mining, engines, DG sets and automotive and spare parts. (Registered Activity)

 

 

Products :

Item Code No.

Product Description

84290000

Earth Moving Equipments including Spares

85020000

Engines

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Not Divulged

 

 

Bankers :
  • The Hongkong and Shanghai Banking Corporation Limited, 5 and 7 Cathedral Road, Chennai-600086, Tamilnadu, India

 

  • Indusind Bank Limited, Old No. 115, 116, New No.34,G. N. Chetty Road, T. Nagar, Chennai-600017, Tamilnadu, India

 

  • Kotak Mahindra Bank Limited, 27-BKC, C-27, G Block Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India

 

  • HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, lower Parel (West), Mumbai-400013, , Maharashtra, India

 

  • ICICI Bank Limited, 3A, Gurusaday Road, Kolkata-700019, West Bengal, India

 

  • Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, , Maharashtra, India

 

 

Bank Name

Citi Bank N.A.

Branch

Ground Floor, 163 Anna Salai, Chennai- 600002, Tamilnadu , India

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2016

As on

31.03.2015

LONG TERM BORROWING

 

 

Rupee term loans from banks

1266.972

1641.306

SHORT TERM BORROWING

 

 

Term loans from banks

2186.842

2787.921

Total

3453.814

4429.227

 

Auditors :

 

Name :

Singhi and Company

Chartered Accountants

Address :

161, Sarat Bose Road, Kalighat, Near National High Kolkata - 700026, School, West Bengal, India

Income-tax PAN of auditor or auditor's firm :

AASFS9578D

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding company: (As on 28.07.2017)
  • Universal Trading Company Limited India

CIN No.:U51101RJ1948PLC000752

 

 

Associates:
  • Birla GTM Entrepose Private Limited, India

CIN No.:U45203WB1990PTC048284

 

  • Ranchi Enterprises and Properties Limited, India

CIN No.:U15421WB1934PLC008026

 

 

 

Subsidiary company: (As on 28.07.2017)
  • GMMCO Singapore Private Limited, Singapore

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2016

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

12500000

Equity Shares

INR 10/- each

INR 125.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4867275

Equity Shares

INR 10/- each

INR 48.673 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET

 

 

SOURCES OF FUNDS

 

31.03.2016

31.03.2015

31.03.2014

I.      EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

48.673

48.673

48.673

(b) Reserves and Surplus

5735.881

5418.813

5002.118

(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)

5784.554

5467.486

5050.791

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1266.972

1641.306

1988.445

(b) Deferred tax liabilities (Net)

275.300

209.600

146.900

(c) Other long-term liabilities

25.998

25.998

19.494

(d) long-term provisions

38.333

32.402

24.349

Total Non-current Liabilities (3)

1606.603

1909.306

2179.188

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

2912.470

3112.731

1626.715

(b) Trade payables

1686.245

1621.019

1016.839

(c) Other current liabilities

1722.829

1490.499

1809.040

(d) Short-term provisions

8.694

142.699

91.301

Total Current Liabilities (4)

6330.238

6366.948

4543.895

 

 

 

 

TOTAL

13721.395

13743.740

11773.874

 

 

 

 

II.    ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2030.856

2000.315

1744.353

(ii) Intangible Assets

1776.696

2005.839

2231.858

(iii) Tangible assets capital work-in-progress

54.519

64.242

0.000

(iv) Intangible assets under development

0.000

0.000

153.469

(b) Non-current Investments

172.989

158.568

158.568

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d) Long-term loans and advances

126.730

129.278

131.073

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

4161.790

4358.242

4419.321

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

5799.262

5502.566

3782.413

(c) Trade receivables

2963.149

2967.153

2348.543

(d) Cash and bank balances

73.417

95.053

487.540

(e) Short-term loans and advances

508.488

356.286

346.555

(f) Other current assets

215.289

464.440

389.502

Total Current Assets

9559.605

9385.498

7354.553

 

 

 

 

TOTAL

13721.395

13743.740

11773.874

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2016

31.03.2015

31.03.2014

 

SALES

 

 

 

 

Income

18446.994

16493.525

15439.905

 

Other Income

221.901

196.910

214.797

 

TOTAL

18668.895

16690.435

15654.702

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

949.022

1006.401

1615.191

 

Purchases of Stock-in-Trade

12967.859

12515.767

10970.444

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(533.224)

(1773.658)

(1064.329)

 

Employees benefits expense

1582.736

1310.205

1088.275

 

Other expenses

1913.730

1860.175

1805.157

 

TOTAL

16880.123

14918.890

14414.738

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

1788.772

1771.545

1239.964

 

 

 

 

 

Less

FINANCIAL EXPENSES

457.797

403.198

183.346

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

1330.975

1368.347

1056.618

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

473.172

478.247

250.476

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

857.803

890.100

806.142

 

 

 

 

 

Less

TAX

335.700

288.399

290.700

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

522.103

601.701

515.442

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

508.418

491.723

547.115

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

300.000

400.000

400.000

 

Interim dividend

170.355

73.009

73.009

 

Proposed final dividend

0.000

82.744

73.009

 

Tax on Dividend

34.680

29.253

24.816

 

Total (M)

505.035

585.006

570.834

 

 

 

 

 

 

Balance Carried to the B/S

525.486

508.418

491.723

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

1151.329

1002.396

1422.284

 

TOTAL EARNINGS

1151.329

1002.396

1422.284

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

29.336

47.971

4.463

 

Components and spare parts

4941.774

5668.507

3039.748

 

Capital Goods

92.327

207.538

66.700

 

TOTAL IMPORTS

5063.437

5924.016

3110.911

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

107.27

123.62

105.90

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2016

31.03.2015

31.03.2014

Current Maturities of Long term debt

351.834

214.954

334.991

 

 

 

 

Net cash flows from (used in) operations

1628.779

(523.244)

543.117

 

 

 

 

Net cash flows from (used in) operating activities

1236.330

(818.442)

313.017

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Average Collection Days

(Sundry Debtors / Income * 365 Days)

58.63

65.66

55.52

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

6.23

5.56

6.57

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

44.23

43.76

29.49

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.31

0.32

0.33

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.46

0.44

0.30

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.58

0.60

0.58

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.78

0.91

0.78

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

1.09

1.16

0.90

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.67

0.74

0.82

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

3.91

4.39

6.76

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2016

31.03.2015

31.03.2014

Net Profit Margin

 (PAT / Sales) * 100)

%

2.83

3.65

3.34

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

3.81

4.38

4.38

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

9.03

11.01

10.21

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Current Ratio

(Current Assets / Current Liabilities)

1.51

1.47

1.62

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.59

0.61

0.79

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.42

0.40

0.43

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

93.10

102.09

81.16

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.51

1.47

1.62

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

31.03.2014

31.03.2015

31.03.2016

 

(INR In Million)

(INR In Million)

(INR In Million)

Share Capital

48.673

48.673

48.673

Reserves & Surplus

5002.118

5418.813

5735.881

Net worth

5050.791

5467.486

5784.554

 

 

 

 

Long-term borrowings

1988.445

1641.306

1266.972

Short term borrowings

1626.715

3112.731

2912.470

Current maturities of long-term debts

334.991

214.954

351.834

Total borrowings

3950.151

4968.991

4531.276

Debt/Equity ratio

0.782

0.909

0.783

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2014

31.03.2015

31.03.2016

 

(INR In Million)

(INR In Million)

(INR In Million)

Sales

15439.905

16493.525

18446.994

 

 

6.824

11.844

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2014

31.03.2015

31.03.2016

 

(INR In Million)

(INR In Million)

(INR In Million)

Sales

15439.905

16493.525

18446.994

Profit/ (Loss)

515.442

601.701

522.103

 

3.34 %

3.65 %

2.83 %

 

 

 

LEGAL CASE

 


CHIEF METROPOLITAN MAGISTRATE CMM COURT, BANGALORE

Case Details

Case Type: P.C.R.
Filing Number: 7700/2017Filing Date: 13-09-2017
Registration Number: 11407/2017Registration Date: 13-09-2017
CNR Number: KABC03-097647-2017



CASE STATUS

First Hearing Date: 20th September 2017
Next Hearing Date: 27th October 2017
Stage of Case: ORDERS
Court Number and Judge: 65-IV ADDL. CHIEF METROPOLITAN MAGISTRATE

Petitioner and Advocate

1) M/S.LEELA SAI DEVELOPERS



Respondent and Advocate

1) GMMCO LIMITED

2) GMMCO LIMITED
       
3) H.JAYARAM
        
4) YOGESH GOENKA
        

ACTS

Under Act(s)

Under Section(s)

U/S 200 of CrPC

405,406,415,420

HISTORY OF CASE HEARING

 

Registration Number

Judge

Business On Date

Hearing Date

Purpose of hearing

11407/2017

IV ADDL. CHIEF METROPOLITAN MAGISTRATE

20-09-2017

21-10-2017

FIRST HEARING

11407/2017

IV ADDL. CHIEF METROPOLITAN MAGISTRATE

21-10-2017

27-10-2017

ORDERS

 

 

 

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

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

 

 

BUSINESS ACTIVITIES:

 

 

The overall performance of the Company has been satisfactory considering continuing / challenges in the Infrastructure and Mining Industry. Revenue from operations has been INR 18600.000 million compared to INR 16580.000 million in the previous year registering a growth of about 12.2%. The Company has made good progress in establishing / transition and creating capability with regard to Sales, Product Support and Servicing of erstwhile Bucyrus range of products which was acquired during 2013-14. The regular business of Caterpillar products continues to be good. Good progress has been made in further developing business of Sales and Services of Bharat Benz products manufactured by Daimler India Private Limited.

 

OUTLOOK FOR 2016-17

 

The Company’s products are mainly catering to Infrastructure and Mining sectors. With the auction of Coal Blocks, increased production target by Coal India Limited and focus on Infrastructure by Government of India, the Company believes that there will be improvement in both the Sectors in the financial year 2016-17 and is hopeful of a better performance.

 

 

UNSECURED LOAN

 

Particulars

As on

31.03.2016

As on

31.03.2015

SHORT TERM BORROWING

 

 

Term loans from banks

725.628

324.810

Total

725.628

324.810

 

 

INDEX OF CAHREGS:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

DATE OF SATISFACTION

AMOUNT

ADDRESS

1

G59371021

100116377

State Bank of India

02/08/2017

23/10/2017

-

1750000000.0

CAG Branch, 3rd Floor, Sigapi Achi Building, No.18/3, Rukmini Lakshmipathi RoadChennaiTN600008IN

2

G38131926

100082583

The Hongkong and Shanghai Banking Corporation Limited

21/02/2017

-

-

250000000.0

5 & 7 Cathedral RoadChennaichennaiTN600086IN

3

G31820129

100068732

Indusind Bank Limited

05/12/2016

-

-

375000000.0

Old No. 115, 116 New No.34,G. N. Chetty Road, T. NagarChennaiTN600017IN

4

G06275770

100034876

The Hongkong and Shanghai Banking Corporation Limited

13/05/2016

-

-

250000000.0

No. 30 Rajaji SalaiChennaiTN600001IN

5

C81062648

10469209

Kotak Mahindra Bank Limited

12/12/2013

16/02/2016

-

600000000.0

27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E)MumbaiMH400051IN

6

C81640567

10469078

HDFC BANK LIMITED

07/12/2013

24/02/2016

-

1800000000.0

HDFC Bank House, Senapati Bapat MargLower Parel WestMumbaiMH400013IN

7

G38583498

10393736

ICICI Bank Limited

19/12/2012

10/03/2017

-

1500000000.0

3A, Gurusaday RoadKolkataWB700019IN

8

G39560529

10383450

Citi Bank N.A.

05/10/2012

20/03/2017

-

340000000.0

163 Anna SalaiSecond FloorChennaiTN600002IN

9

C44542447

10357609

The Hongkong and Shanghai Banking Corporation Limited

08/05/2012

16/02/2015

-

900000000.0

No. 5 & 7, Cathedral RoadChennaiTN600086IN

10

B32008450

10335315

YES BANK LIMITED

25/01/2012

-

-

150000000.0

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN

 

 

CONTINGENT LIABILITIES:

 

(INR in Million)

PARTICULARS

31.03.2016

Claims against company not acknowledged as debt

1650.515

Guarantees

782.803

Other money for which company is contingently liable

772.444

 

 

FIXED ASSETS

 

  • Land
  • Office building
  • Plant and equipment
  • Other plant and equipment
  • Furniture and fixtures
  • Motor vehicles
  • Computer software

 

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 67.83

UK Pound

1

INR 91.68

Euro

1

INR 80.29

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHY

 

 

Analysis Done by :

NYT

 

 

Report Prepared by :

MTN

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

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)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.