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|
MIRA INFORM REPORT
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Report No. : |
509666 |
|
Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
GARWARE BESTRETCH LIMITED (w.e.f. 24.06.2008) |
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|
|
|
Formerly Known
As : |
BESTRETCH ELASTOMERS INTERNATIONAL LIMITED |
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Registered
Office : |
2-A(3), Maker Bhavan II, Plot No. 18, New Marine Lines, CS No. 1433, Division – Fort, Mumbai-400020, Maharashtra |
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Tel. No.: |
91-22-23634696 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
12.10.1994 |
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Com. Reg. No.: |
11-142451 |
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Capital
Investment / Paid-up Capital : |
INR 66.354 Million |
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|
CIN No.: [Company Identification
No.] |
U24130MH1994PLC142451 |
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IEC No.: [Import-Export Code No.] |
3102011331 |
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TIN/VAT No.: |
27200293360V |
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PAN No.: [Permanent Account No.] |
AABCG8082C |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AABCG8082C1ZP |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is engaged in the business of manufacturing and selling heat resistant rubber products. (Registered Activity) |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1994. The company is
engaged in the business of manufacturing and selling heat resistant rubber
products. Management has not filed its financial record with government department
for the year 2017 and same are not available from any other sources. As per the financial records of 2016, the company has reported a
minimal decline in its revenue as compared to the previous year but has
achieved a favourable profitability margin during the year under the review. The company possesses sound financial position marked by healthy
networth base along with negligible debt level and comfortable liquidity
parameters. 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 BY
|
Name : |
Ms. Shital |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-20-66335600 |
|
Date : |
16.05.2018 |
(Tel No.: 91-22-23634696- Continuously
Ringing)
LOCATIONS
|
Registered Office : |
2-A(3), Maker Bhavan II, Plot No. 18, New Marine Lines, CS No. 1433, Division – Fort, Mumbai-400020, Maharashtra, India |
|
Tel. No.: |
91-22-23634696 |
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Fax No.: |
91-22-23631120 |
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E-Mail : |
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|
Website : |
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|
Head Office : |
Amar Avinash Corporate Plaza, 4th Floor, Bund Garden Road, Pune -
411011, Maharashtra, India |
|
Tel. No.: |
91-20-30548333/ 30548444/ 30548555 |
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Fax No.: |
91-20-66024140 |
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E-Mail : |
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Website : |
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Corporate Office : |
Supreme Headquarters, 9th Floor, Survey No. 36, Baner, Pune Bangalore Highway, Pune - 411045, Maharashtra, India. |
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|
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Branch Office : |
Plot No. C2, MIDC, Wai District, Satara -412803, Maharashtra, India, |
DIRECTORS
As on 2018
|
Name : |
Ms. Diya Garware Ibanez |
|
Designation : |
Managing Director |
|
Address : |
Ramesh Garware Farm, NDA Road, Khadakwasala, PO Box No 3, Pune -
411023, Maharashtra, India |
|
Date of Birth/Age : |
25.09.1970 |
|
Qualification : |
Bachelor of Science from Cornell University, USA |
|
Date of Appointment : |
27.06.2012 |
|
PAN No.: |
ABEPG3017C |
|
DIN No.: |
00415841 |
|
|
|
|
Name : |
Mr. Juan Ibanez |
|
Designation : |
Managing Director |
|
Address : |
Garware Farm, NDA Road, Khadakwasla, Pune - 411023, Maharashtra, India |
|
Date of Birth/Age : |
29.04.1962 |
|
Qualification : |
Master of International Management from American Graduate School of
International Management, United States of America |
|
Date of Appointment : |
30.09.2014 |
|
PAN No.: |
AAZPJ0116J |
|
DIN No.: |
02126143 |
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|
|
|
Name : |
Mr. Sudhir Rajaram Pitre |
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Designation : |
Whole-Time Director |
|
Address : |
Sr No 51, Fl No. Q 201, Sun Universe, Near Navale Bridge, Behind Union Bank Of India, Pune -411041, Maharashtra, India |
|
Date of Birth/Age : |
29.02.1951 |
|
Date of Appointment : |
04.11.2013 |
|
PAN No.: |
AAQPP9451Q |
|
DIN No.: |
00015560 |
|
|
|
|
Name : |
Mr. Pradyumna Natvarlal Shah |
|
Designation : |
Director |
|
Address : |
51/ Shantiniketan CHS, 5th Floor, Plot No 96, Prabhat Colony, Road No.
1, Santacruz (East), Mumbai - 400055, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1929 |
|
Date of Appointment : |
08.11.2014 |
|
PAN No.: |
AABPS3192C |
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DIN No.: |
00096793 |
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|
|
|
Name : |
Chhaya Manoj Palrecha |
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Designation : |
Director |
|
Address : |
Flat No. 503, Thackers House, East Street, General Thimmayya Road,
Pune - 411001, Maharashtra, India |
|
Date of Appointment : |
29.09.2015 |
|
DIN No.: |
06914875 |
KEY EXECUTIVES
|
Name : |
Nandan Prakash Shah |
|
Designation : |
Company Secretary |
|
Address : |
B/401, Aryabhatta Society, Walvekar Nagar Opposite Treasure Park, Sahakarnagar No. 1, Pune -411009, Maharashtra, India |
|
Date of Appointment : |
20.04.2018 |
|
PAN No : |
BFEPS5314H |
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|
|
|
Name : |
Ms. Shital |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Fully
paid Shares |
|
Diya Garware Ibanez |
|
1914698 |
|
Gurukrupa Investments and Trading Company Private Limited, India |
|
2 |
|
Moonshine Investments and Trading Company Private Limited, India |
|
2 |
|
Starshine Investments and Trading Company Private Limited, India |
|
2 |
|
Manmit Investments and Trading Company Private Limited, India |
|
2 |
|
Sanand Investments and Trading Company Private Limited, India |
|
2 |
|
Garware Holdings Limited, India |
|
3188892 |
|
Garware Healthcare Limited, India |
|
1 |
|
Single Point Distribution Limited, India |
|
1 |
|
Sudhir R. Pitrre |
|
1 |
|
S P Raykar |
|
1 |
|
Ashutosh Oke |
|
1 |
|
Sucheta Chitnis |
|
1 |
|
Anand Kshirsagar |
|
1 |
|
Archana Pachwadkar |
|
1 |
|
Total |
|
5103608 |
|
Names of Shareholders |
|
No. of Partly paid Shares |
|
Diya Garware Ibanez |
|
7658792 |
|
Total |
|
7658792 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
75.01324202 |
|
Promoters (Body corporate) |
24.98661694 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
0.00004701 |
|
Public/Other than promoters (Body corporate) |
0.00009403 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of manufacturing and selling heat resistant rubber products. (Registered Activity) |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Gokhale Tanksale and Ghatpande Chartered Accountants |
|
Address : |
102, R K Classic, New D P Road, Ashish Garden, Kothrud, Pune – 411029,
Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AACFG4275H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary company
(As on 28.09.2017): |
Elastomer Inc, Unites States of America |
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Enterprises which
are owned, or have significant influence of or are
partners with Key management personnel and their relatives (As on
31.03.2016): |
· Garware Wall Ropes Limited · Garware Holdings Limited · Suramex Private Limited · Garware Medcare Limited |
CAPITAL STRUCTURE
As on 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17000000 |
Equity Shares |
INR 10/- each |
INR 170.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12762400 |
Equity Shares |
INR 10/- each |
INR 127.624 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5103608 |
Equity Shares (Fully paid) |
INR 10/- each |
INR 51.036 Million |
|
7658792 |
Equity Shares (Not fully paid) |
INR 2/- each |
INR 15.318 Million |
|
|
Total |
|
INR 66.354
Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
66.354 |
51.036 |
51.036 |
|
(b) Reserves and Surplus |
1875.727 |
1427.903 |
1095.082 |
|
(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) |
1942.081 |
1478.939 |
1146.118 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4.367 |
3.291 |
6.506 |
|
(b) Deferred tax liabilities (Net) |
42.933 |
14.182 |
29.313 |
|
(c) Other long-term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
17.071 |
15.125 |
13.627 |
|
Total Non-current
Liabilities (3) |
64.371 |
32.598 |
49.446 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
124.449 |
33.608 |
122.090 |
|
(b) Trade payables |
93.974 |
87.779 |
132.536 |
|
(c) Other current liabilities |
144.119 |
90.309 |
69.392 |
|
(d) Short-term provisions |
639.974 |
620.625 |
512.686 |
|
Total Current
Liabilities (4) |
1002.516 |
832.321 |
836.704 |
|
|
|
|
|
|
TOTAL |
3008.968 |
2343.858 |
2032.268 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
709.992 |
632.719 |
404.485 |
|
(ii) Intangible Assets |
21.346 |
23.488 |
16.907 |
|
(iii) Tangible assets capital work-in-progress |
20.144 |
22.264 |
7.477 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
548.500 |
46.282 |
37.770 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term loans and advances |
11.617 |
11.368 |
8.387 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1311.599 |
736.121 |
475.026 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
234.372 |
251.875 |
307.491 |
|
(c) Trade receivables |
649.999 |
622.961 |
546.438 |
|
(d) Cash and bank balances |
29.007 |
7.132 |
3.937 |
|
(e) Short-term loans and advances |
115.076 |
106.899 |
231.085 |
|
(f) Other current assets |
668.915 |
618.870 |
468.291 |
|
Total
Current Assets |
1697.369 |
1607.737 |
1557.242 |
|
|
|
|
|
|
TOTAL |
3008.968 |
2343.858 |
2032.268 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
2231.232 |
2238.572 |
2394.595 |
|
|
Other Income |
50.684 |
47.848 |
51.211 |
|
|
TOTAL |
2281.916 |
2286.420 |
2445.806 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
793.815 |
934.382 |
1081.759 |
|
|
Purchases of
Stock-in-Trade |
0.245 |
0.437 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
3.227 |
29.132 |
(44.498) |
|
|
Employee benefit expense |
202.976 |
179.232 |
129.462 |
|
|
CSR expenditure |
11.336 |
10.000 |
0.000 |
|
|
Other expenses |
467.211 |
467.869 |
408.703 |
|
|
Exceptional items |
0.000 |
63.750 |
0.000 |
|
|
Extraordinary items |
5.593 |
1.037 |
7.631 |
|
|
TOTAL |
1484.403 |
1685.839 |
1583.057 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
797.513 |
600.581 |
862.749 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
49.536 |
11.950 |
10.216 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
747.977 |
588.631 |
852.533 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
52.711 |
41.051 |
25.504 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
695.266 |
547.580 |
827.029 |
|
|
|
|
|
|
|
Less |
TAX |
246.610 |
153.403 |
251.962 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
448.656 |
394.177 |
575.067 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1896.439 |
1907.534 |
2062.238 |
|
|
TOTAL EARNINGS |
1896.439 |
1907.534 |
2062.238 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
500.039 |
655.556 |
835.719 |
|
|
Components and spare
parts |
12.453 |
14.236 |
0.000 |
|
|
Capital Goods |
19.635 |
40.112 |
4.329 |
|
|
TOTAL IMPORTS |
532.127 |
709.904 |
840.048 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
35.15 |
77.23 |
112.68 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
5.223 |
3.938 |
5.126 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
888.072 |
572.031 |
669.012 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
106.33 |
101.57 |
83.29 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.43 |
3.59 |
4.38 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
43.20 |
34.27 |
44.72 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
3.40 |
2.38 |
2.81 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.06 |
0.89 |
2.01 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.34 |
0.36 |
0.42 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.07 |
0.03 |
0.12 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.52 |
0.56 |
0.73 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.39 |
0.46 |
0.37 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
16.10 |
50.26 |
84.45 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
20.11 |
17.61 |
24.02 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
14.91 |
16.82 |
28.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
23.10 |
26.65 |
50.18 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.69 |
1.93 |
1.86 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.46 |
1.63 |
1.49 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.65 |
0.63 |
0.56 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.02 |
0.80 |
2.62 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.69 |
1.93 |
1.86 |
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 |
51.036 |
51.036 |
66.354 |
|
Reserves & Surplus |
1095.082 |
1427.903 |
1875.727 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1146.118 |
1478.939 |
1942.081 |
|
|
|
|
|
|
long-term borrowings |
6.506 |
3.291 |
4.367 |
|
Short term borrowings |
122.090 |
33.608 |
124.449 |
|
Current maturities of
long-term debts |
5.126 |
3.938 |
5.223 |
|
Total
borrowings |
133.722 |
40.837 |
134.039 |
|
Debt/Equity
ratio |
0.117 |
0.028 |
0.069 |
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 |
2394.595 |
2238.572 |
2231.232 |
|
|
|
(6.516) |
(0.328) |
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 |
2394.595 |
2238.572 |
2231.232 |
|
Profit/ (Loss) |
575.067 |
394.177 |
448.656 |
|
24.02% |
17.61% |
20.11% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
66.354 |
51.036 |
|
(b) Reserves & Surplus |
|
1877.662 |
1435.083 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1944.016 |
1486.119 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
41.787 |
41.077 |
|
(b) Deferred tax liabilities
(Net) |
|
42.933 |
14.182 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
17.071 |
15.125 |
|
Total
Non-current Liabilities (3) |
|
101.791 |
70.384 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
124.449 |
33.608 |
|
(b) Trade payables |
|
93.974 |
87.779 |
|
(c) Other current liabilities |
|
151.015 |
94.565 |
|
(d) Short-term provisions |
|
648.215 |
623.593 |
|
Total
Current Liabilities (4) |
|
1017.653 |
839.545 |
|
|
|
|
|
|
TOTAL |
|
3063.460 |
2396.048 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
798.598 |
722.120 |
|
(ii) Intangible Assets |
|
21.346 |
23.487 |
|
(iii) Capital work-in-progress |
|
20.144 |
22.264 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
510.980 |
8.762 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
11.617 |
11.368 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
1362.685 |
788.001 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
484.769 |
512.366 |
|
(c) Trade receivables |
|
372.599 |
338.979 |
|
(d) Cash and cash equivalents |
|
38.547 |
15.365 |
|
(e) Short-term loans and
advances |
|
115.076 |
106.899 |
|
(f) Other current assets |
|
689.784 |
634.438 |
|
Total
Current Assets |
|
1700.775 |
1608.047 |
|
|
|
|
|
|
TOTAL |
|
3063.460 |
2396.048 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
2380.489 |
2360.008 |
|
|
Other Income |
|
37.861 |
32.494 |
|
|
TOTAL
|
|
2418.350 |
2392.502 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
793.815 |
934.382 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
13.321 |
48.521 |
|
|
Employees benefits expense |
|
227.805 |
203.643 |
|
|
Other expenses |
|
552.841 |
528.498 |
|
|
CSR Expenditure |
|
11.336 |
10.000 |
|
|
Exceptional Items |
|
0.000 |
63.786 |
|
|
Extraordinary Items |
|
5.593 |
1.037 |
|
|
TOTAL |
|
1604.711 |
1789.867 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
813.639 |
602.635 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
52.434 |
14.775 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
761.205 |
587.860 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
58.839 |
46.164 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
702.366 |
541.696 |
|
|
|
|
|
|
|
Less |
TAX |
|
254.851 |
156.371 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
447.515 |
385.325 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
70.00 |
77.00 |
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 |
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 |
No |
|
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 |
CORPORATE
INFORMATION:
The company is an unlisted public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of manufacturing and selling heat resistant rubber products. It caters to both the domestic and international market
COMPANY’S PERFORMANCE
Revenue from operations for FY 2015-16 was INR 2281.900 Million, as compared to INR 2286.400 Million in FY 2014-15. PAT for the year was INR 448.700 Million, as compared to the PAT of INR394.200 Million in FY 2014-15.
During the year there was a change in the status of the Company from the subsidiary to an associate company of Garware Holdings Limited.
UNSECURED LOAN
|
PARTICULAR |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Other loans and advances |
138.500 |
0.000 |
|
Total |
138.500 |
0.000 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G21882105 |
100059896 |
ICICI BANK LIMITED |
30/06/2016 |
- |
- |
2077000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
2 |
G04481487 |
100029218 |
ICICI BANK LIMITED |
13/04/2016 |
- |
- |
835000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGu390015IN |
|
3 |
G04481859 |
100029369 |
ICICI BANK LIMITED |
14/03/2016 |
- |
- |
6300000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGu390015IN |
|
4 |
G34915504 |
80010053 |
Bank of Maharashtra |
16/09/2004 |
17/01/2017 |
- |
750000000.0 |
Corporate Finance Branch, 1183/ANamdar Gopal Krishna Gokhale Road, Shivaji NagarPuneMH411005IN |
|
5 |
C29712932 |
90084512 |
Bank of India MIDCORP Branch Lead Bank |
13/08/1996 |
28/06/2013 |
30/09/2014 |
150000000.0 |
1162/6 Shivaji NagarUniversity RoadPuneMH411005IN |
|
6 |
B71143002 |
90084395 |
EXPORT-IMPORT BANK OF INDIA |
20/02/1996 |
29/07/1999 |
12/03/2013 |
47500000.0 |
CENTRE ONEWORLD TRADE CENTRE; CUFFE PARADEMUMBAIMH400005IN |
|
7 |
B71096796 |
90086432 |
EXPORT-IMPORT BANK OF INDIA |
18/06/2003 |
- |
12/03/2013 |
137000000.0 |
CENTRE ONE BUILDING; FLOOR 21WORLD TRADE CENTRE COMPLEX; CUFFE PARADEMUMBAIMH400005IN |
|
8 |
B32010787 |
90088236 |
UTI BANK LIMITED |
10/12/1999 |
- |
08/02/2012 |
28700000.0 |
STERLING PLAZA; PLOT NO. 1262/BJANGLI MAHARAJ ROAD; NEAR DECCAN GYMKHANAPUNEMH411004IN |
|
9 |
B30234686 |
90090822 |
BANK OF MAHARASHTRA |
21/11/1998 |
- |
18/01/2012 |
1000000.0 |
INDUSTRIAL FINANCE BRANCH1183; A SHIVAJINAGARPUNEMH411005IN |
|
10 |
B30236046 |
90088116 |
BANK OF MAHARASHTRA |
06/07/1998 |
- |
18/01/2012 |
10400000.0 |
INDUSTRIAL FINANCE BRANCHF.C. ROADPUNEMH411005IN |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
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 67.52 |
|
UK Pound |
1 |
INR 91.48 |
|
Euro |
1 |
INR 80.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
POON |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.
·