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|
|
MIRA
INFORM REPORT
|
Report No. : |
510037 |
|
Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
PON PURE CHEMICAL INDIA PRIVATE LIMITED (w.e.f. 30.03.2015) |
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Formerly Known
As : |
PON PURE CHEM PRIVATE LIMITED (w.e.f. 26.06.2008) PURE CHEMICALS AND SOLVENT PRIVATE LIMITED |
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Registered
Office : |
No. 32, H Block, 15th Main Road, Anna Nagar, Chennai -
600040, Tamilnadu |
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Tel. No.: |
91-44-26161803 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
24.07.1998 |
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Com. Reg. No.: |
18-040872 |
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Capital
Investment / Paid-up Capital : |
INR 85.405 Million |
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CIN No.: [Company Identification
No.] |
U24111TN1998PTC040872 |
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IEC No.: [Import-Export Code No.] |
0402002172 |
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GSTIN : [Goods & Service Tax Registration
No.] |
33AACCP3026E1Z0 |
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TIN No.: |
33241061285 |
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PAN No.: [Permanent Account No.] |
AACCP3026E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading and Distribution of Chemicals
and Solvents. (Registered
Activity) |
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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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated on 24th July 1998. It is a trader
and distributor of chemical and solvent. For the financial year ended 2017, the company has achieved revenue
growth of 7.21% as compared to the previous year but has reported low profit
margin of 0.72%. The sound financial profile of the company is reflected by its
adequate net worth base along with average debt coverage indicators. Rating takes into consideration established presence of the company in
trading and distribution of chemicals with operations spanning the entire
country, a wide product portfolio and diversified customer base. However, rating strength is partially offset by high competition in
the industry limiting the pricing flexibility, high dependence on working capital
funding to support revenue growth and susceptibility of margins to sleep fluctuations
in raw material prices and foreign currency fluctuations risk. Payments seems to be usually correct. 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.
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 |
ICRA |
|
Rating |
Long Term, Fund Based Facilities (BBB+) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
29.01.2018 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term, Non Fund Based Facilities (A2) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
29.01.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 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.: 91-44-26161803)
LOCATIONS
|
Registered Office : |
No. 32, H-Block, 15th Main Road, Anna Nagar, Chennai -
600040, Tamilnadu, India |
|
Tel. No.: |
91-44-26161803 – 809 (7 Lines) |
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Mobile No.: |
91-44-26161813/ 14 |
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E-Mail : |
basicchemicals@pure-chemical.com
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Website : |
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Branch Office 1: |
128, 129, 130, Creative Industrial Estate, Road No.2, Sunder Nagar,
Kalina, Santacruz (East), Mumbai – 400059, Maharashtra, India |
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Tel. No.: |
91-22-66937163 / 64 / 65 |
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E-Mail : |
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Branch Office 2 : |
2-3-85, 1st Floor, M. G. Road, Ramgopalpet, Secunderabad – 500 003, Telangana, India |
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Branch Office 3 : |
Plot No. 341, 2nd Floor, Sector 1-A, Gandhidham – 370201,
Gujarat, India |
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Branch Office 4 : |
Plot No. 391, 392, 393, Sector IV, KASEZ, Gandhidham, Kutch – 370230,
Gujarat, India |
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Branch Office : |
Also Located at: ·
Chandigarh ·
Andhra Pradesh ·
Delhi ·
Karnataka ·
Kerla ·
Pondicherry ·
Tamilnadu ·
Telangana ·
West Bengal ·
Mumbai |
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Overseas Offices
: |
Located at: · Australia · Singapore · Sri Lanka · Dubai · Kenya |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Ponnuswami Muthuswamy |
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Designation : |
Managing Director |
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Address : |
AA23, 3rd Street, Anna Nagar, Chennai-600040, Tamilnadu, India |
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Date of Birth/Age : |
02.03.1953 |
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Qualification : |
B.Sc. |
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Experience : |
33 Years |
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Date of Appointment : |
24.07.1998 |
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PAN No.: |
AAEPP4919R |
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DIN No.: |
00015847 |
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Other Directorship:
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Name : |
Mr. Ponnuswami Manaoranjitham |
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Designation : |
Director |
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Address : |
AA23, 3rd Street, Anna Nagar, Chennai-600040, Tamilnadu,
India |
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Date of Birth/Age : |
15.06.1961 |
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Qualification : |
B.Sc. |
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Date of Appointment : |
24.07.1998 |
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PAN No.: |
AAFPM2201A |
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DIN No.: |
00016775 |
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Other Directorship:
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||||||||||||||||||||
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Name : |
Mr. Surya Prakas Muthuswamy Ponnuswami |
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Designation : |
Whole-time Director |
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Address : |
AA23, 3rd Street, Anna Nagar, Chennai-600040, Tamilnadu,
India |
||||||||||||||||||||
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Date of Birth/Age : |
21.12.1980 |
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Qualification : |
21.12.1980 |
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Experience : |
B.E., (Hons) Chemical, M.Sc.,(Hons) Economics, |
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Date of Appointment : |
30.07.2008 |
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PAN No.: |
AAMPS7678E |
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DIN No.: |
00017891 |
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Other Directorship:
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||||||||||||||||||||
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Name : |
Mr. Ponnuswami Muthuswamy Lakshmipathy |
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Designation : |
Whole-time Director |
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Address : |
AA23, 3rd Street, Anna Nagar, Chennai-600040, Tamilnadu,
India |
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Date of Birth/Age : |
25.09.1982 |
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Experience : |
B.E., (Electricals and Electronics) |
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Date of Appointment : |
30.07.2008 |
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PAN No.: |
AAAPL8212B |
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DIN No.: |
00021951 |
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Other Directorship:
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||||||||||||||||||||
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Name : |
Mr. Sambandam Srinivasan |
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Designation : |
Whole-time Director |
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Address : |
No.10-A, Ilnd Street, Vasantham Nagar, Kolathur, Chennai – 600099,
Tamilnadu, India. |
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Date of Birth/Age : |
25.09.1982 |
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Qualification : |
20.06.1963 |
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Experience : |
M.Com, MBA |
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Date of Appointment : |
01.11.2013 |
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PAN No.: |
ADWPS4871N |
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DIN No.: |
6731628 |
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KEY EXECUTIVES
|
Name : |
Mr. Muthukumaran |
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Designation : |
Company Secretary |
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Address : |
No.7, 3rd Street, 3rd Sector, Semathamman Nagar, Koyampedu, Chennai – 600107, Tamilnadu, India |
|
Date of Birth/Age : |
12.07.1994 |
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Qualification : |
B.Com, ACS |
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Date of Appointment : |
01.06.2016 |
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PAN No.: |
CZPPM2698G |
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|
|
|
Name : |
M. Alagar and Associates |
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Designation : |
Company Secretaries Practice |
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Address : |
No.21-B, 1st Floor, ARK Colony, Eldams Road, Alwarpet, Chennai – 600018, Tamilnadu, India |
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Tel. No: |
91-44-24344230 |
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Mob. No: |
91-9003199947 |
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Email: |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
M. Ponnuswami |
|
730461 |
|
Manaoranjitham |
|
45075 |
|
M.P. Suryaprakas |
|
16700 |
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M.P. Lakshmipathy |
|
16700 |
|
M.P. Ponnuswami HUF |
|
45110 |
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S. Nithyasree |
|
2 |
|
Susmetha |
|
2 |
|
Total |
|
854050 |
Equity Share Break up (Percentage of Total Equity)
As on 30.03.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family - Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading and Distribution of Chemicals
and Solvents. (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 : |
Not Divulged |
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Bankers : |
· IDFC Bank Limited, KRM Tower, 8th Floor, No. 1, Harrington Road, Chetpet, Chennai – 600040, Tamilnadu, India · IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India · State Bank of India, Overseas Branch No.86. Rajaji Salai, Chennai – 600001, Tamilnadu, India · ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Vadodara – 390015, Gujarat, India · Punjab National Bank, 4/2, First Floor, Nolambur Main Road, West Mogappair, Chennai – 600037, Tamilnadu, India · Standard Charterd Bank, Grindlays Centre, 19, Rajaji Salai, Chennai – 600001, Tamilnadu, India |
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Facilities : |
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Auditors : |
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|
Name : |
Suri and Company Chartered Accountants |
|
Address : |
New No. 4, (Old No. 55-A), South Boag Road, (Chavaliar Shivaji Ganesan Salai), T. Nagar, Chennai – 600017, Tamilnadu, India |
|
Income-tax PAN
of auditor or auditor's firm : |
AABFS5023Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
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Subsidiary Companies
: |
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Fellow Subsidiary
Companies : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Equity Shares |
INR 100/- each |
INR 90.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
854050 |
Equity Shares |
INR 100/- each |
INR 85.405 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
85.405 |
85.405 |
85.405 |
|
(b) Reserves & Surplus |
918.185 |
819.391 |
765.851 |
|
(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) |
1003.590 |
904.796 |
851.256 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
17.818 |
21.789 |
14.981 |
|
(b) Deferred tax liabilities (Net) |
0.518 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
18.336 |
21.789 |
14.981 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2086.155 |
1642.585 |
1616.377 |
|
(b) Trade
payables |
1925.616 |
1535.869 |
1413.733 |
|
(c) Other
current liabilities |
80.023 |
77.951 |
70.411 |
|
(d) Short-term
provisions |
3.828 |
2.752 |
2.407 |
|
Total Current
Liabilities (4) |
4095.622 |
3259.157 |
3102.928 |
|
|
|
|
|
|
TOTAL |
5117.548 |
4185.742 |
3969.165 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
504.404 |
520.542 |
525.041 |
|
(ii)
Intangible Assets |
6.501 |
7.257 |
9.600 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
90.574 |
90.574 |
90.574 |
|
(c) Deferred tax assets (net) |
0.000 |
35.649 |
67.863 |
|
(d) Long-term Loan and Advances |
30.293 |
19.856 |
20.952 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
631.772 |
673.878 |
714.030 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1220.987 |
779.339 |
744.190 |
|
(c) Trade
receivables |
2915.313 |
2402.969 |
2232.533 |
|
(d) Cash
and cash equivalents |
174.973 |
178.237 |
126.264 |
|
(e)
Short-term loans and advances |
104.221 |
101.212 |
93.526 |
|
(f) Other
current assets |
70.282 |
50.107 |
58.622 |
|
Total
Current Assets |
4485.776 |
3511.864 |
3255.135 |
|
|
|
|
|
|
TOTAL |
5117.548 |
4185.742 |
3969.165 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
13728.003 |
12805.298 |
13495.188 |
|
|
Other Income |
37.224 |
50.651 |
40.313 |
|
|
TOTAL |
13765.227 |
12855.949 |
13535.501 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
12809.988 |
11784.362 |
12365.177 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(235.716) |
(13.986) |
176.795 |
|
|
Employee benefit expense |
270.528 |
242.566 |
225.234 |
|
|
CSR
expenditure |
0.500 |
1.350 |
0.700 |
|
|
Other expenses |
557.302 |
504.433 |
440.642 |
|
|
TOTAL |
13402.602 |
12518.725 |
13208.548 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
362.625 |
337.224 |
326.953 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
180.656 |
223.296 |
266.072 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
181.969 |
113.928 |
60.881 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
31.008 |
26.374 |
41.158 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
150.961 |
87.554 |
19.723 |
|
|
|
|
|
|
|
Less |
TAX |
52.167 |
34.014 |
4.914 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
98.794 |
53.540 |
14.809 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
992.843 |
781.054 |
651.115 |
|
|
Commission received |
4.276 |
6.397 |
10.871 |
|
|
Corporate Guarantee Commission |
9.299 |
8.457 |
6.549 |
|
|
TOTAL EARNINGS |
1006.418 |
795.908 |
668.535 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
116.00 |
63.00 |
17.00 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
7.568 |
13.981 |
22.533 |
|
Net cash flows from (used in) operations |
(312.258) |
183.637 |
308.428 |
|
Net cash flows from (used in) operating activities |
(312.258) |
183.637 |
308.428 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
77.51 |
68.49 |
60.38 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.71 |
5.33 |
6.04 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
54.87 |
47.57 |
41.73 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.30 |
0.43 |
0.44 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.71 |
0.64 |
0.61 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.81 |
0.79 |
0.79 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.10 |
1.85 |
1.94 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
4.08 |
3.60 |
3.65 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.51 |
0.58 |
0.63 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.01 |
1.51 |
1.23 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.72 |
0.42 |
0.11 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.93 |
1.28 |
0.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
9.84 |
5.92 |
1.74 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.10 |
1.08 |
1.05 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.80 |
0.84 |
0.81 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.20 |
0.22 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
24.72 |
19.65 |
19.37 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.10 |
1.08 |
1.05 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
85.405 |
85.405 |
85.405 |
|
Reserves & Surplus |
765.851 |
819.391 |
918.185 |
|
Net
worth |
851.256 |
904.796 |
1003.590 |
|
|
|
|
|
|
long-term borrowings |
14.981 |
21.789 |
17.818 |
|
Short term borrowings |
1616.377 |
1642.585 |
2086.155 |
|
Current maturities of
long-term debts |
22.533 |
13.981 |
7.568 |
|
Total
borrowings |
1653.891 |
1678.355 |
2111.541 |
|
Debt/Equity
ratio |
1.943 |
1.855 |
2.104 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
13495.188 |
12805.298 |
13728.003 |
|
|
|
(5.112) |
7.206 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
13495.188 |
12805.298 |
13728.003 |
|
Profit |
14.809 |
53.540 |
98.794 |
|
|
0.11% |
0.42% |
0.72% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
85.405 |
85.405 |
|
(b) Reserves and Surplus |
969.331 |
845.208 |
|
|
|
|
|
(2) Share Application money pending
allotment |
0.001 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1054.737 |
930.613 |
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
(a) long-term borrowings |
17.818 |
21.789 |
|
(b) Deferred tax liabilities (Net) |
0.518 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
18.336 |
21.789 |
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
(a) Short-term
borrowings |
2184.187 |
1771.954 |
|
(b) Trade
payables |
2266.647 |
1824.638 |
|
(c) Other
current liabilities |
80.312 |
79.555 |
|
(d) Short-term
provisions |
4.462 |
3.220 |
|
Total Current
Liabilities (4) |
4535.608 |
3679.367 |
|
|
|
|
|
TOTAL |
5608.681 |
4631.769 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1)
Non-current assets |
|
|
|
(a) Fixed
Assets |
|
|
|
(i)
Tangible assets |
505.767 |
521.730 |
|
(ii)
Intangible Assets |
6.586 |
7.345 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.500 |
1.500 |
|
(c) Deferred tax assets (net) |
0.000 |
35.649 |
|
(d)
Long-term loans and advances |
31.923 |
20.680 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
|
Total Non-Current
Assets |
545.776 |
586.904 |
|
|
|
|
|
(2)
Current assets |
|
|
|
(a)
Current investments |
0.000 |
0.000 |
|
(b)
Inventories |
1268.491 |
805.627 |
|
(c) Trade
receivables |
3333.842 |
2816.093 |
|
(d) Cash and
bank balances |
245.346 |
252.673 |
|
(e)
Short-term loans and advances |
129.546 |
111.908 |
|
(f) Other
current assets |
85.680 |
58.564 |
|
Total
Current Assets |
5062.905 |
4044.865 |
|
|
|
|
|
TOTAL |
5608.681 |
4631.769 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
Total
Revenue from operations |
15992.142 |
14929.938 |
|
|
Other Income |
29.312 |
39.071 |
|
|
TOTAL |
16021.454 |
14969.009 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Purchases of
Stock-in-Trade |
14962.419 |
13767.379 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(254.224) |
(1.303) |
|
|
Employee benefit expense |
300.514 |
269.059 |
|
|
Other expenses |
593.880 |
549.750 |
|
|
TOTAL |
15602.589 |
14584.885 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
418.865 |
384.124 |
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
199.976 |
245.450 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
218.889 |
138.674 |
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
31.187 |
27.349 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
187.702 |
111.325 |
|
|
|
|
|
|
Less |
TAX |
59.594 |
40.633 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
128.108 |
70.692 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
150.00 |
82.77 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
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 two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BRIEF DESCRIPTION OF
THE COMPANY
Even though the tough and challenging business environment continued during the year 2016-17, the turnover increased to INR 13728.003 million. Further, due to various efforts in areas like cost reduction, efficient forex management, efficient inventory management etc., The Company was able to achieve a turnaround in profitability and the year ended with a net profit after tax of INR 98.794 million compared to INR 53.540 Million in the year 2015-16.
INDEX OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G80075369 |
100159091 |
DBS Bank Ltd |
12/02/2018 |
27/02/2018 |
- |
350000000.0 |
806,Anna SalaiChennaiTN600002IN |
|
2 |
G59770834 |
100130821 |
INDUSIND BANK LTD. |
15/09/2017 |
- |
- |
350000000.0 |
2401 GEN THIMMAYYA ROADCONTONMENTPUNEMa411001IN |
|
3 |
G57410763 |
100128624 |
HDFC BANK LIMITED |
12/09/2017 |
- |
- |
200000000.0 |
HDFC Bank House, Senapati Bapat Marg,Lower Parel (West)MumbaiMH400013IN |
|
4 |
G75048660 |
100041433 |
IDFC BANK LIMITED |
25/07/2016 |
30/10/2017 |
- |
600000000.0 |
KRM Tower, 7th Floor, No. 1,Harrington Road, Chetpet,ChennaiTa600031IN |
|
5 |
G67957993 |
10534362 |
YES BANK LIMITED |
10/11/2014 |
19/09/2017 |
- |
320000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI, MUMBAI MH 400018MUMBAIMH400018IN |
|
6 |
G61011755 |
10522099 |
RBL BANK LIMITED |
11/09/2014 |
27/10/2017 |
- |
300000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMa416001IN |
|
7 |
G34490722 |
10235346 |
IDBI Bank Limited |
20/08/2010 |
02/01/2017 |
- |
200000000.0 |
IDBI TOWER, WTC COMPLEXCUFFE PARADEMUMBAIMH400005IN |
|
8 |
B32873432 |
10137237 |
Bank of Baroda |
23/12/2008 |
27/01/2012 |
- |
350000000.0 |
International Business BranchJustice Basheer Ahmed Building,45 Moore StreetChennaiTN600001IN |
|
9 |
G37761145 |
10126361 |
State Bank of India |
06/09/2008 |
01/03/2017 |
- |
1656000000.0 |
Overseas BranchNo.86.Rajaji SalaiChennaiTN600001IN |
|
10 |
C60362431 |
80028476 |
Axis Bank Limited |
23/02/2005 |
14/07/2015 |
- |
500000000.0 |
CBB,192, Ground Floor,Karumuthu Nilayam,Anna SalaiChennaiTN600002IN |
FIXED ASSETS
· Land
· Building
· Office Equipment
· Furniture and fixtures
· Vehicles
· Plant and equipment
· Furniture and fixtures
· Computer equipments
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 67.16 |
|
UK Pound |
1 |
INR 91.65 |
|
Euro |
1 |
INR 79.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
STL |
|
|
|
|
Analysis Done by
: |
PYK |
|
|
|
|
Report Prepared
by : |
MTN |
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.