|
|
|
MIRA INFORM REPORT
|
Report No. : |
509787 |
|
Report Date : |
19.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
STERLING AND WILSON POWERGEN PRIVATE LIMITED [w.e.f.12.03.2008] |
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|
|
|
Formerly known
as: |
STERLING AND WILSON TURNKEY PROJECTS PRIVATE LIMITED |
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Registered
Office : |
10th Floor, Universal Majestic, L.P. Lokhande Marg, Chembur, Mumbai - 400043, Maharashtra |
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Tel. No.: |
91-22-25485300 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
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Date of
Incorporation : |
22.05.1995 |
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|
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Com. Reg. No.: |
11-088637 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 0.114 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70100MH1995PTC088637 |
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|
|
IEC No.: [Import-Export Code No.] |
Not Applicable [As informed by the management that firm does
not have export and import] |
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TIN No.: |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCS2107H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer of Generating Sets and its Accessories. [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+ |
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Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 140000 |
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Status : |
Good |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Shapoorji Pallonji and Company Private Limited” and it was incorporated in the year 1995. It is a dealer of generating sets and its accessories. As per financials of March 2017, the company has registered decline in its revenue as compared to its previous year’s revenue and has reported minimal profit margin. Rating takes into consideration the company’s established track record of business operations along with sound net worth base and good liquidity position. Rating also takes into accounts the strong parentage with demonstrated support from the promoters in terms of financial as well as managerial assistance and reliable product portfolio to wide range of requirement of the customers as well as reputed clientele from diversified industries. However, ratings strength is partially offset by high customer-concentration and leveraged balance sheet of the company. Payments seems to be usually correct. In view of strong parentage, the subject can be considered good for business dealings at usual trade terms and conditions. NOTE: Site visit was conducted at the given address which you have provided. Our executive has successfully traced the subject at the given address. At the premises, our executive met with Mr. Kishore Kumar (Security Guard) who confirmed the company exist on the given address and he provided with information but he did not allow to enter into the premises. As per our executive’s observation, it is 15 storey building and subject is situated on 10th floor. Area seems to be upmarket. Location to easy to find and locality seems to be industrial. Name board of the company was sighted at the premises. |
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 rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
30.03.2018 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
30.03.2018 |
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 19.05.2018.
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 DECLINED BY
|
Name : |
Mr. Narendra Deshmukh |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-7498670243 |
|
Date : |
18.05.2018 |
MANAGEMENT NON-COOPERATIVE [TEL. NO: 91-22-25485300]
[91-749297348] incorrect number
LOCATIONS
|
Registered Office : |
10th Floor, Universal Majestic , L.P. Lokhande Marg Chembur , Mumbai - 400043, Maharashtra, India |
|
Tel. No.: |
91-22-25485300 |
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Mobile No.: |
91-7498670243 [Mr. Narendra Deshmukh] |
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Fax No.: |
91-22-25485331 |
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E-Mail : |
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Website : |
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Locality: |
Industrial [As per site visit] |
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Branch Office : |
Located at : · Ahmedabad · Bangalore · Chennai · Cochin · Goa · Guwahati · Hyderabad · Jaipur · Kolkata · Noida · Pune · Silvassa · Solar EPC – Delhi · Vadodara ·
Vijayawada |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Khurshed Yazdi Daruvala |
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Designation : |
Director |
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Address : |
613, Dinshaw Mody Building, Jame Jamsed Road, Parsi
Colony, Dadar, Mumbai – 400014, Maharashtra |
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Date of Birth/Age : |
17.12.1944 |
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Date of Appointment : |
22.05.1995 |
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DIN No.: |
00216905 |
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PAN No.: |
AACPD7565R |
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Other directorship:
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Name : |
Mr. Zarine Yazdi Daruvala |
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Designation : |
Director |
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|
Address : |
613, Dinshaw Mody Building, Jame Jamsed Road, Parsi Colony,
Dadar, Mumbai – 400014, Maharashtra |
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Date of Birth/Age : |
22.03.1969 |
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Date of Appointment : |
22.05.1995 |
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DIN No.: |
00190585 |
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Other directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Khurshed Yazdi Daruvala |
452 |
39.72 |
|
Kainaz Khurshed. Daruvala |
48 |
4.22 |
|
Shapoorji Pallonji and Company Private Limited, India |
638 |
56.06 |
|
|
|
|
|
Total |
1138 |
100.00 |
AS ON: 28.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
43.94 |
|
Promoters (Body corporate) |
56.06 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer of Generating Sets and its Accessories. [Registered Activity] |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
· Axis Bank Limited · Union Bank of India |
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Facilities : |
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Auditors : |
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Name : |
BSR and Company LLP Chartered Accountants |
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Address : |
5th Floor, Lodha Excelus, Apollo Mills Compound, N M Joshi Marg, Mahalaxmi, Mumbai - 400 011, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAFFH6834G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Holding company: |
Shapoorji Pallonji and Company Private Limited [U45200MH1943PTC003812] |
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|
|
|
Fellow Subsidiary
company: |
· Sterling Generators Private Limited [u99999mh1995ptc085899] · Sterling and Wilson Private Limited [U31200MH1974PTC017538] |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
INR 100/- each |
INR 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1138 |
Equity Shares |
INR 100/- each |
INR 0.114 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
0.114 |
0.114 |
0.114 |
|
(b) Reserves & Surplus |
48.506 |
42.238 |
34.849 |
|
(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) |
48.620 |
42.352 |
34.963 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
100.000 |
175.000 |
250.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
28.312 |
19.417 |
44.928 |
|
Total
Non-current Liabilities (3) |
128.312 |
194.417 |
294.928 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
234.129 |
452.693 |
582.843 |
|
(b)
Trade payables |
1418.625 |
1388.584 |
1185.452 |
|
(c)
Other current liabilities |
372.846 |
399.276 |
255.108 |
|
(d)
Short-term provisions |
50.736 |
37.814 |
5.384 |
|
Total
Current Liabilities (4) |
2076.336 |
2278.367 |
2028.787 |
|
|
|
|
|
|
TOTAL |
2253.268 |
2515.136 |
2358.678 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
237.521 |
222.904 |
229.303 |
|
(ii)
Intangible Assets |
4.437 |
2.888 |
2.867 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
14.563 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.431 |
18.310 |
1.431 |
|
(c) Deferred tax assets
(net) |
8.893 |
10.904 |
10.904 |
|
(d) Long-term Loan
and Advances |
1.765 |
2.210 |
44.020 |
|
(e)
Other Non-current assets |
79.162 |
64.303 |
0.242 |
|
Total
Non-Current Assets |
333.209 |
321.519 |
303.330 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
30.000 |
0.000 |
0.000 |
|
(b)
Inventories |
272.426 |
249.814 |
391.732 |
|
(c)
Trade receivables |
1262.799 |
1555.567 |
1480.824 |
|
(d)
Cash and cash equivalents |
149.327 |
101.419 |
16.978 |
|
(e)
Short-term loans and advances |
177.432 |
250.685 |
58.451 |
|
(f)
Other current assets |
28.075 |
36.132 |
107.363 |
|
Total
Current Assets |
1920.059 |
2193.617 |
2055.348 |
|
|
|
|
|
|
TOTAL |
2253.268 |
2515.136 |
2358.678 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
3259.521 |
3466.323 |
2882.781 |
|
|
|
Other Income |
21.379 |
15.011 |
48.654 |
|
|
|
TOTAL |
3280.900 |
3481.334 |
2931.435 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1809.509 |
2130.648 |
1950.930 |
|
|
|
Purchases of Stock-in-Trade |
653.693 |
597.528 |
425.145 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.000 |
0.000 |
(128.208) |
|
|
|
Employees benefits expense |
291.375 |
249.382 |
219.980 |
|
|
|
Expenditure on production, transporting and other
expenditure pertaining to exploration and production activities |
227.801 |
191.386 |
0.000 |
|
|
|
Other expenses |
180.981 |
180.845 |
323.662 |
|
|
|
TOTAL |
3163.359 |
3349.789 |
2791.509 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
117.541 |
131.545 |
139.926 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
92.035 |
99.108 |
106.283 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
25.506 |
32.437 |
33.643 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.166 |
14.780 |
22.720 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
11.340 |
17.657 |
10.923 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.023 |
0.058 |
4.221 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
8.317 |
17.599 |
6.702 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Income from work contracts |
0.000 |
45.136 |
44.903 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material and Spares |
2.050 |
1.018 |
1.069 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
62.68 |
174.82 |
5889.57 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
75.000 |
75.000 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
527.751 |
374.875 |
(384.756) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
516.618 |
363.151 |
(387.398) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
141.41 |
163.80 |
187.49 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.58 |
2.23 |
1.95 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
210.21 |
185.78 |
182.10 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.43 |
0.53 |
0.36 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.49 |
0.58 |
0.57 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
1.00 |
1.01 |
0.97 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
8.41 |
16.59 |
23.82 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
42.71 |
53.80 |
58.03 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
4.98 |
5.33 |
7.06 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.28 |
1.33 |
1.32 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.26 |
0.51 |
0.23 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.37 |
0.70 |
0.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
17.11 |
41.55 |
19.17 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.92 |
0.96 |
1.01 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.79 |
0.85 |
0.82 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.02 |
0.02 |
0.01 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3588.85 |
6163.97 |
7305.64 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.92 |
0.96 |
1.01 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
0.114 |
0.114 |
0.114 |
|
Reserves & Surplus |
34.849 |
42.238 |
48.506 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
34.963 |
42.352 |
48.620 |
|
|
|
|
|
|
Long-term borrowings |
250.000 |
175.000 |
100.000 |
|
Short term borrowings |
582.843 |
452.693 |
234.129 |
|
Current Maturities of Long
term debt |
0.000 |
75.000 |
75.000 |
|
Total
borrowings |
832.843 |
702.693 |
409.129 |
|
Debt/Equity
ratio |
23.821 |
16.592 |
8.415 |
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 |
2882.781 |
3466.323 |
3259.521 |
|
|
|
20.242 |
-5.966 |
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 |
2882.781 |
3466.323 |
3259.521 |
|
Profit |
6.702 |
17.599 |
8.317 |
|
|
0.23% |
0.51% |
0.26% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.114 |
0.114 |
|
(b) Reserves & Surplus |
|
74.896 |
65.069 |
|
(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) |
|
75.010 |
65.183 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
100.000 |
175.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
28.312 |
19.417 |
|
Total
Non-current Liabilities (3) |
|
128.312 |
194.417 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
234.129 |
452.693 |
|
(b)
Trade payables |
|
1418.625 |
1388.584 |
|
(c)
Other current liabilities |
|
372.846 |
399.276 |
|
(d)
Short-term provisions |
|
50.736 |
37.814 |
|
Total
Current Liabilities (4) |
|
2076.336 |
2278.367 |
|
|
|
|
|
|
TOTAL |
|
2279.658 |
2537.967 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
237.521 |
222.904 |
|
(ii)
Intangible Assets |
|
4.437 |
2.888 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
27.821 |
41.141 |
|
(c) Deferred tax assets
(net) |
|
8.893 |
10.904 |
|
(d) Long-term Loan
and Advances |
|
1.765 |
2.210 |
|
(e)
Other Non-current assets |
|
79.162 |
64.303 |
|
Total
Non-Current Assets |
|
359.599 |
344.350 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
30.000 |
0.000 |
|
(b)
Inventories |
|
272.426 |
249.814 |
|
(c)
Trade receivables |
|
1262.799 |
1555.567 |
|
(d)
Cash and cash equivalents |
|
149.327 |
101.419 |
|
(e)
Short-term loans and advances |
|
177.432 |
250.685 |
|
(f)
Other current assets |
|
28.075 |
36.132 |
|
Total
Current Assets |
|
1920.059 |
2193.617 |
|
|
|
|
|
|
TOTAL |
|
2279.658 |
2537.967 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
3259.521 |
3466.323 |
|
|
|
Other Income |
|
21.379 |
15.011 |
|
|
|
TOTAL |
|
3280.900 |
3481.334 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
1809.509 |
2130.648 |
|
|
|
Purchases of Stock-in-Trade |
|
653.693 |
597.528 |
|
|
|
Employees benefits expense |
|
291.375 |
249.382 |
|
|
|
Expenditure on production, transporting and other
expenditure pertaining to exploration and production activities |
|
227.801 |
191.386 |
|
|
|
Other expenses |
|
180.981 |
180.845 |
|
|
|
TOTAL |
|
3163.359 |
3349.789 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
117.541 |
131.545 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
92.035 |
99.108 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
25.506 |
32.437 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
14.166 |
14.780 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
11.340 |
17.657 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
3.023 |
0.058 |
|
|
|
|
|
|
|
|
|
|
SHARE OF PROFIT
ASSOCIATES AND JOINT VENTURE ACCOUNTED FOR USING EQUITY METHOD |
|
3.559 |
3.361 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
11.876 |
20.960 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
|
98.27 |
208.43 |
|
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 |
Yes |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
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 |
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 |
OBSERVATION POINTS
|
Name of Company : |
STERLING AND WILSON POWERGEN PRIVATE LIMITED |
|
|
|
|
Address : |
10th Floor, Universal Majestic, L.P. Lokhande Marg, Chembur , Mumbai - 400043, Maharashtra, India |
|
|
|
|
Contact No. : |
91-22-25485300 |
|
|
|
|
Person to whom we met: |
Mr. Kishor Kumar [Security Guard] |
|
|
|
|
Name Board : |
Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Total Floors of the Building : |
15 Floors |
|
|
|
|
Subject situated on: |
10 Floor |
|
|
|
|
Locality: |
Industrial |
|
|
|
|
Area : |
Upmarket |
|
|
|
|
Proof of visit: |
Photos |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C35866292 |
10534721 |
AXIS BANK LIMITED |
06/12/2014 |
- |
- |
250000000.0 |
CORPORATE BANKING
BRANCH, P.B. MARG,WORLI, MUMBAI - 400 025MUMBAIMH400025IN |
|
2 |
B83438697 |
10321531 |
UNION BANK OF INDIA |
14/11/2011 |
22/07/2013 |
- |
1050000000.0 |
INDUSTRIAL FINANCE
BRANCH,66/80, MUMBAI SAMACHAR MARG, FORT,MUMBAIMH400023IN |
|
3 |
C46922571 |
10131984 |
UNION BANK OF INDIA |
24/10/2008 |
- |
23/02/2015 |
150000000.0 |
MUMBAI SAMACHAR MARG
BRANCH,66/80, MUMBAI SAMACHAR MARG, FORT,MUMBAIMH400023IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
234.129 |
452.693 |
|
|
|
|
|
Total |
234.129 |
452.693 |
PERFORMANCE
The Revenue from operations for the year was saw a slight dip 0.06 % over the previous year. However, the margins continued to be under pressure due to higher input costs and stiff competition. Further it needs to be stated that the procrastinated execution of projects by customers has affected the cash flows resulting in higher interest costs and increased dependence on borrowings.
The Demonetization policy by the Government resulted in a tight liquidly in the market and Slowdown in Investment in Project in all segments of the market.
FIXED ASSETS:
Tangible assets
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipment’s
- Leasehold improvements
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 67.96 |
|
UK Pound |
1 |
INR 91.88 |
|
Euro |
1 |
INR 80.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
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.