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MIRA INFORM REPORT
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Report No. : |
509418 |
|
Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
CERA SANITARYWARE LIMITED |
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Registered
Office : |
9, GIDC Industrial Estate, Kadi, District Mehsana -
382715, Gujarat |
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Mob. No.: |
91-2764-242329 |
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Country : |
India |
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
17.07.1998 |
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Com. Reg. No.: |
04-034400 |
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Capital
Investment / Paid-up Capital : |
Rs.65.029 Million |
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CIN No.: [Company Identification
No.] |
L26910GJ1998PLC034400 |
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IEC No.: [Import-Export Code No.] |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TIN No.: |
Not Divulged |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Sanitaryware, Tiles, Bathroom accessories and
products, Faucetsware [Registered
Activity] |
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No. of Employees
: |
Information declined by the management
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RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1998. The company is a manufacturer of sanitaryware, tiles, bathroom accessories & products, etc. As per the financial records of 2018, the company has achieved a favourable growth of 12.61% in its revenue as compared to the previous year’s revenue and has gained a fair profitability margin of 8.41%. The rating takes into consideration the strong financial position of the company marked by robust net worth base along with negligible debt balance sheet profile and satisfactory liquidity position. Rating takes into consideration the company’s favourable Earnings Per Share (EPS) of INR 77 as against its Face Value (FV) of INR 5. The company has its share price trading at around INR 2971.55 on BSE as on May 15, 2018 as against the Face Value (FV) of INR 5. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL RATING |
|
Rating |
Commercial Paper = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
11.12.2017 |
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
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 18.05.2018.
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 (Tel. No.: 91-2764-262619)
Tel. No.: 91-2764-242329 Ringing
Tel. No.: 91-2764-262638 Not Responding.
LOCATIONS
|
Registered Office/ Factory : |
9, GIDC Industrial Estate, Kadi, District Mehsana -
382715, Gujarat, India |
|
Tel. No.: |
91-2764-242329/ 262619/ 262638/ 263874/ 321949 |
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Fax No.: |
91-2764-242465 |
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E-Mail : |
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Website : |
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Marketing/ Head Office : |
Madhusudan House, Opposite Navrangpura Telephone Exchange, Ahmedabad – 380006, Gujarat, India |
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Tel. No.: |
91-79-26449781/ 26449789 |
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Fax No.: |
91-79-26569259 |
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E-Mail : |
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Wind Farms : |
· Village Lamba and Patelka, Tal. Kalyanpur, District Jamnagar, Gujarat, India · Village and Tal. Kalyanpur, District Jamnagar, Gujarat, India · Village Kadoli, Tal. Abdasa, District Kutchh, Gujarat, India · Village Jivapur (Anandpar), Tal. Chotila, Dist. Surendranagar, Gujarat, India · Village. Mota Gunda, Tal. Bhanwad, Dist. Devbhumi Dwarka, Gujarat, India · Village. Navagam, Tal. Bhanwad, Dist. Devbhumi Dwarka, Gujarat, India |
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|
|
|
Regional Offices : |
Located at: · Ahmedabad · Bengaluru · Chandigarh · Chennai · Delhi and NCR · Hyderabad · Kolkata · Kozhikode · Mumbai · Pune ·
Thiruvananthapuram |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Vikram Somany |
|
Designation : |
Chairman and Managing Director |
|
Address : |
12/1 Judges Court Road, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
65 years |
|
Qualification : |
B.Sc., FCMI (U.K.) |
|
Experience : |
39 years |
|
Date of Appointment : |
13.08.2002 |
|
DIN No.: |
00048827 |
|
|
|
|
Name : |
Ms. Deepshikha Khaitan |
|
Designation : |
Director |
|
Address : |
39, Friends Colony East, New Delhi – 110065, India |
|
Date of Appointment : |
29.03.2014 |
|
DIN No.: |
03365068 |
|
|
|
|
Name : |
Sajan Kumar Pasari |
|
Designation : |
Director |
|
Address : |
4A Rainey Park Kolkata – 700019, West Bengal, India |
|
Date of Appointment : |
15.06.2004 |
|
DIN No.: |
00370738 |
|
|
|
|
Name : |
Dr. K. N. Maiti |
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Designation : |
Director |
|
Date of Birth/Age : |
23.09.1946 |
|
Date of Appointment |
24.05.2008 |
|
Expertise in
Specific Functional Areas |
Ceramic Scientist |
|
|
|
|
Name : |
Mr. Lalit Lumar Bohania |
|
Designation : |
Director |
|
Address : |
79, Bangur Avenue, 2nd Floor, Block A, Kolkata – 700055, West Bengal,
India |
|
Date of Appointment : |
11.07.2013 |
|
DIN No.: |
00235869 |
|
|
|
|
Name : |
Mr. Govindbhai P. Patel |
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Designation : |
Director |
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Date of Birth/Age : |
01.08.1933 |
|
Expertise in
Specific Functional Areas : |
Labour Matters and Administration |
|
Date of Appointment : |
16.07.2010 |
|
|
|
|
Name : |
Jugal Kishore Taparia |
|
Designation : |
Director |
|
Address : |
B/101, Shivam Klasse Near Trilok Bunglows, Bodakdev, Ahmedabad – 380054, Gujarat, India |
|
Date of Appointment : |
12.07.2016 |
|
DIN No.: |
07509049 |
|
|
|
|
Name : |
Atul Sanghvi |
|
Designation : |
Wholetime Director |
|
Address : |
A-32, Shaligram Apartments Opposite Bimanagar, Satellite Road,
Ahmedabad – 380015, Gujarat, India |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
00045903 |
|
|
|
|
Name : |
Mr. Ayush Bagla |
|
Designation : |
Additional Director |
|
Address : |
5H New Road Alipore, Kolkata – 700027, West Bengal, India |
|
Date of Appointment : |
18.04.2018 |
|
DIN No.: |
01211591 |
|
|
|
|
Name : |
Mr. Surendra Singh Sohan Singh Baid |
|
Designation : |
Additional Director |
|
Address : |
A-21, Mayfair Apts.,Nr Shivranjani Cross Road Behind Dmart Mall,
Satellite Ahmedabad – 380015, Gujarat, India |
|
Date of Appointment : |
18.04.2018 |
|
DIN No.: |
02736988 |
KEY EXECUTIVES
|
Name : |
Subhash Chandra Kothari |
|
Designation : |
Chief Executive Officer (Kmp) |
|
Address : |
A/53 Shaligram - 2 Satellite,
Ahmedabad – 380015, Gujarat, India |
|
Date of Appointment : |
12.06.2014 |
|
PAN No.: |
ABDPK0355Q |
|
|
|
|
Name : |
Rajesh Shah Bhikhubhai |
|
Designation : |
Chief Financial Officer (Kmp) |
|
Address : |
5-A, National Park Society Gulbai Tekra, Ellisbridge Ahmedabad –
380015, Gujarat, India |
|
Date of Appointment : |
12.06.2014 |
|
PAN No.: |
AHBPS5370B |
|
|
|
|
Name : |
Narendra Kumar Patel |
|
Designation : |
Company Secretary |
|
Address : |
C-4 Shreejibapa Complex Opposite Swaminarayan Temple Barage Road Vasna
Ahmedabad – 380007, Gujarat, India |
|
Date of Appointment : |
01.04.2006 |
|
PAN No.: |
ADMPP3175E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2018
|
Category of
shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
71,20,639 |
54.75 |
|
|
(B) Public |
58,85,235 |
45.25 |
|
|
Grand Total |
1,30,05,874 |
100.00 |
|
Statement
showing shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated
as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
|
|
|
Individuals/Hindu undivided Family |
28,55,203 |
21.95 |
|
|
Smiti Somany |
13,42,240 |
10.32 |
|
|
Vikram Somany |
9,45,847 |
7.27 |
|
|
Deepshikha Khaitan |
3,39,116 |
2.61 |
|
|
Pooja Jain Somany |
2,00,000 |
1.54 |
|
|
GANGA SOMANY |
28,000 |
0.22 |
|
|
Any Other (specify) |
42,65,436 |
32.80 |
|
|
Vikram Investment Company Limited |
29,00,275 |
22.30 |
|
|
Rekha Commercial Limited |
5,32,388 |
4.09 |
|
|
Trisure Promotions & Tradings Limited |
4,84,400 |
3.72 |
|
|
Suvinay Trading & Investment Company Limited |
2,59,420 |
1.99 |
|
|
Venugopal Holdings Limited |
63,388 |
0.49 |
|
|
Madhusudan Industries Limited |
18,065 |
0.14 |
|
|
Madhusudan Holdings Limited |
7,500 |
0.06 |
|
|
Sub Total A1 |
71,20,639 |
54.75 |
|
|
A2) Foreign |
0.00 |
|
|
|
A=A1+A2 |
71,20,639 |
54.75 |
|
Statement
showing shareholding pattern of the Public shareholder
|
Category &
Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR, 1957 As a
% of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
|
|
|
Mutual Funds/ |
11,84,237 |
9.11 |
|
|
DSP Blackrock Small Cap Fund & Dsp Blackrock Midcap Fund |
4,24,993 |
3.27 |
|
|
Franklin India Smaller Companies Fund |
2,04,989 |
1.58 |
|
|
Aditya Birla Sun Life Pure Value Fund & Aditya Birla Sun Life
Resurgent India Fund - Series 6 |
1,30,082 |
1.00 |
|
|
UTI-Mahila Unit Scheme, UTI-Unit Linked Insurance Plan, UTI-Unit Scheme
For Charitable And Religious, UTI-Mis-Advantage Plan, UTI - Bluechip Flexicap |
1,94,233 |
1.49 |
|
|
Foreign Portfolio Investors |
10,57,619 |
8.13 |
|
|
Nalanda India Equity Fund Limited |
3,71,558 |
2.86 |
|
|
Financial Institutions/ Banks |
8,560 |
0.07 |
|
|
Sub Total B1 |
22,50,416 |
17.30 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
|
|
|
B3) Non-Institutions |
0.00 |
|
|
|
Individual share capital upto INR 0.200 Million |
16,94,993 |
13.03 |
|
|
Individual share capital in excess of INR 0.200 Million |
5,10,478 |
3.92 |
|
|
Sajan Kumar Pasari |
2,36,696 |
1.82 |
|
|
Vijay Kedia |
1,40,000 |
1.08 |
|
|
Any Other (specify) |
14,29,348 |
10.99 |
|
|
Bodies Corporate |
9,06,901 |
6.97 |
|
|
HDFC Standard Life Insurance Company Limited & HDFC Sl
Shareholders Solvency Margin Account |
6,36,507 |
4.89 |
|
|
Non-Resident Indian (NRI) |
74,421 |
0.57 |
|
|
IEPF |
42,473 |
0.33 |
|
|
Trusts |
4,888 |
0.04 |
|
|
HUF |
49,665 |
0.38 |
|
|
Overseas Corporate Bodies |
3,51,000 |
2.70 |
|
|
India 2020 II Investors Limited |
3,00,868 |
2.31 |
|
|
Sub Total B3 |
36,34,819 |
27.95 |
|
|
B=B1+B2+B3 |
58,85,235 |
45.25 |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sanitaryware, Tiles, Bathroom accessories and products,
Faucetsware
[Registered Activity] |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
H. V. Vasa and Company Chartered Accountants |
|
Address : |
B-2, "Usha Kiran", Opposite Khanpur Gate, Ahmedabad – 380001, Gujarat, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
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|
|
Subsidiary : [AS ON
31.03.2017] |
|
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|
|
|
Associates : [AS ON
31.03.2017] |
|
CAPITAL STRUCTURE
AS ON 31.03.2018
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 65.029 Million
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 5/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13005874 |
Equity Shares |
INR 5/- each |
INR 65.029
Million |
|
|
|
|
|
Terms / rights
attached to Equity Shares :
The Company has only one class of Equity Shares having a par value of INR 5/- per share. Each holder of Equity Shares is entitled to one vote per share and each equity share carries an equal right to dividend.
B Reconciliation of
the number of Equity Shares outstanding is set out below :
|
Particulars |
31.03.2017 |
|
Shares at the beginning of the year |
13005874 |
|
Add : Issued during the year |
-- |
|
Shares outstanding at the end of the year |
13005874 |
C Details of
shareholders holding more than 5% of the aggregate shares :
|
Name of Shareholder |
31.03.2017 |
|
|
No. of Share held |
% of Holdings |
|
|
Vikram Investment Company Limited |
2900275 |
22.30% |
|
Shri Vikram Somany |
1045847 |
8.04% |
|
Smt Smiti Somany |
1342240 |
10.32% |
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
65.029 |
65.029 |
65.029 |
|
(b) Reserves &
Surplus |
5984.519 |
5158.971 |
4145.160 |
|
(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) |
6049.548 |
5224.000 |
4210.189 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
53.354 |
|
(b) Deferred tax
liabilities (Net) |
411.947 |
357.106 |
343.929 |
|
(c) Other long term
liabilities |
167.039 |
116.306 |
98.349 |
|
(d) long-term provisions |
66.248 |
547.927 |
402.068 |
|
Total Non-current
Liabilities (3) |
645.234 |
1021.339 |
897.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
243.463 |
288.456 |
208.458 |
|
(b) Trade payables |
778.137 |
764.266 |
573.570 |
|
(c) Other current
liabilities |
1748.225 |
1517.358 |
1288.682 |
|
(d) Short-term provisions |
37.175 |
158.471 |
286.915 |
|
Total Current Liabilities
(4) |
2807.000 |
2728.551 |
2357.625 |
|
|
|
|
|
|
TOTAL |
9501.782 |
8973.890 |
7465.514 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2787.762 |
2651.232 |
2253.426 |
|
(ii) Intangible Assets |
6.967 |
13.198 |
4.519 |
|
(iii) Capital
work-in-progress |
48.858 |
1.603 |
42.406 |
|
(iv) Intangible assets
under development |
3.634 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
305.821 |
280.321 |
196.413 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
402.220 |
601.889 |
367.798 |
|
Total Non-Current Assets |
3555.262 |
3548.243 |
2864.562 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1085.942 |
870.609 |
474.716 |
|
(b) Inventories |
1608.956 |
1291.873 |
1321.823 |
|
(c) Trade receivables |
2676.642 |
2207.081 |
1884.292 |
|
(d) Cash and cash
equivalents |
230.420 |
553.935 |
593.917 |
|
(e) Short-term loans and
advances |
0.000 |
484.891 |
310.313 |
|
(f) Other current assets |
344.560 |
17.258 |
15.891 |
|
Total Current Assets |
5946.520 |
5425.647 |
4600.952 |
|
|
|
|
|
|
TOTAL |
9501.782 |
8973.890 |
7465.514 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
11926.778 |
10091.703 |
9172.403 |
|
|
Other Income |
112.770 |
104.141 |
99.707 |
|
|
TOTAL |
12039.548 |
10195.844 |
9272.110 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
896.115 |
709.825 |
762.059 |
|
|
Purchases of
Stock-in-Trade |
5072.403 |
3997.673 |
3712.401 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(335.759) |
103.058 |
(67.073) |
|
|
Excise Duty |
105.966 |
0.000 |
0.000 |
|
|
Employees benefits
expense |
1402.646 |
1199.269 |
1110.126 |
|
|
Other expenses |
3077.845 |
2412.262 |
2242.134 |
|
|
TOTAL |
10219.216 |
8422.087 |
7759.647 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1820.332 |
1773.757 |
1512.463 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
52.388 |
34.398 |
54.623 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1767.944 |
1739.359 |
1457.840 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
223.576 |
181.185 |
163.198 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1544.368 |
1558.174 |
1294.642 |
|
|
|
|
|
|
|
Less |
TAX |
541.853 |
545.000 |
460.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1002.515 |
1013.174 |
834.642 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
95.626 |
80.146 |
|
|
TOTAL EARNINGS |
NA |
95.626 |
80.146 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
69.479 |
63.676 |
|
|
Components and Stores
parts |
NA |
43.741 |
21.922 |
|
|
Capital Goods |
NA |
16.476 |
2.052 |
|
|
TOTAL IMPORTS |
NA |
129.696 |
87.650 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
77.08 |
77.9 |
64.17 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
85.963 |
89.030 |
|
Cash generated from operations |
NA |
1516.529 |
1437.685 |
|
Net cash flow from operating activity |
NA |
993.385 |
1137.980 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
81.91 |
79.83 |
74.98 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.46 |
4.57 |
4.87 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
47.59 |
59.26 |
46.79 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.13 |
1.37 |
1.14 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.64 |
0.67 |
0.66 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.30 |
0.30 |
0.32 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /
Networth) |
0.04 |
0.06 |
0.06 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.46 |
0.52 |
0.56 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.47 |
0.51 |
0.55 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
34.75 |
51.57 |
27.69 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
8.41 |
10.04 |
9.10 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
10.55 |
11.29 |
11.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
16.57 |
19.39 |
19.82 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.12 |
1.99 |
1.95 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.55 |
1.52 |
1.39 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.64 |
0.58 |
0.56 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3.74 |
4.44 |
4.03 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.12 |
1.99 |
1.95 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
65.029 |
65.029 |
65.029 |
|
Reserves & Surplus |
4145.160 |
5158.971 |
5984.519 |
|
Net worth |
4210.189 |
5224.000 |
6049.548 |
|
|
|
|
|
|
long-term borrowings |
53.354 |
0.000 |
0.000 |
|
Short term borrowings |
208.458 |
288.456 |
243.463 |
|
Total borrowings |
261.812 |
288.456 |
243.463 |
|
Debt/Equity ratio |
0.062 |
0.055 |
0.040 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
9172.403 |
10091.703 |
11926.778 |
|
|
|
10.022 |
18.184 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
9172.403 |
10091.703 |
11926.778 |
|
Profit |
834.642 |
1013.174 |
1002.515 |
|
|
9.10% |
10.04% |
8.41% |
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 |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX
OF CHARGES:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C66897349 |
10039743 |
State Bank of India |
28/02/2007 |
19/09/2015 |
- |
1363100000.0 |
OVERSEAS BRANCH A-FF-1, ISCON ELEGANCES G HIGHWAY, AHMEDABADAHMEDABADGJ380015IN |
|
2 |
G68144989 |
10539323 |
KOTAK MAHINDRA BANK LIMITED |
18/11/2014 |
08/01/2016 |
21/11/2017 |
97222223.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMH400051IN |
|
3 |
G02035665 |
10547260 |
State Bank of India |
17/01/2015 |
- |
25/04/2016 |
47500000.0 |
OVERSEAS BRANCH, 1ST FLOOR, ISCON ELEGANCE,NR SUPATH V, OPP KARNAVATI CLUB, S G HIGHWAYAHMEDABADGJ380015IN |
|
4 |
C40536211 |
10298723 |
YES BANK LIMITED |
26/07/2011 |
19/12/2012 |
09/01/2015 |
100000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
|
5 |
B39114939 |
10036274 |
ICICI BANK LIMITED |
19/01/2007 |
13/04/2007 |
10/05/2012 |
155750000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
6 |
B07544851 |
10127120 |
YES BANK LIMITED |
25/10/2008 |
- |
04/03/2011 |
40000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
|
7 |
A12103412 |
90099575 |
BANK OF BARODA |
16/10/2002 |
14/09/2006 |
12/03/2007 |
488500000.0 |
ASHRAM ROADAHMEDABADGJ380009IN |
|
8 |
A04019667 |
90099954 |
BANK OF BARODA |
23/12/2004 |
- |
07/09/2006 |
15000000.0 |
ASHRAM ROAD BRANCHAHMEDABADGJIN |
|
9 |
A04019709 |
80010120 |
BANK OF BARODA |
27/10/2005 |
- |
31/08/2006 |
15000000.0 |
ASHRAM ROAD BRANCHAHMEDABADGJ380006IN |
|
10 |
A04019741 |
80010119 |
BANK OF BARODA |
28/01/2006 |
- |
31/08/2006 |
20000000.0 |
ASHRAM RAOD BRANCHAHMEDABADGJ380006IN |
|
11 |
A01936939 |
80003275 |
HDFC BANK LTD |
30/06/2005 |
- |
08/06/2006 |
0.0 |
NAVRANGPURAAHMEDABADGJ380009IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
|
Claims against the Company not acknowledged as debts |
NA |
15.676 |
|
Letters of Credit opened and guarantees given |
NA |
97.615 |
|
Estimated amount of contracts remaining to be executed on capital account not provided |
NA |
253.560 |
|
Contribution as Capital to Cera Sanitaryware Trading LLC at Dubai |
NA |
0.000 |
|
|
|
|
|
Total |
NA |
366.851 |
FIXED ASSETS
- Leasehold Land
- Freehold Land
- Buildings
- Plant and Machinery
- Furniture and Fixtures
- Vehicle
- 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,
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 |
|
|
1 |
INR 91.68 |
|
Euro |
1 |
INR 80.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
JYO |
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.