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|
|
MIRA INFORM REPORT
|
Report No. : |
510823 |
|
Report Date : |
22.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SPYKAR LIFESTYLES PRIVATE LIMITED (w.e.f. 09.02.2007) |
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Formerly Known
As : |
SPAN APPARELS PRIVATE LIMITED |
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Registered
Office : |
19th Floor, A Wing, Lotus Corporate Park, Jay Coach Junction, Off Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra |
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Tel. No.: |
91-22-42175300 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
06.05.1998 |
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Com. Reg. No.: |
11-114797 |
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Capital
Investment / Paid-up Capital : |
INR 195.129 Million |
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CIN No.: [Company Identification
No.] |
U18101MH1998PTC114797 |
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IEC No.: [Import-Export Code 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.] |
AAECS3455N |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing and selling readymade garments apparel through a network of exclusive business outlets, multi-brand outlets and large retails chains. (Registered Activity) |
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No. of Employees
: |
Information declined 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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 1400000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1998. It is a manufacturer of
readymade garments and clothing accessories. As per the financial records of 2017, the company is achieved satisfactory
growth of 21.73% in its revenue as compared to the previous year’s revenue
and has earned an average net profit margin of 1.68%. The company possesses healthy financial position marked by adequate networth
base along with comfortable debt level and average liquidity position. Business is active. 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 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Loans = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
08.01.2018 |
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 22.05.2018
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.: 91-22-42175389)
91-22-42101992/ 42175309 (RINGING)
LOCATIONS
|
Registered Office : |
19th Floor, A Wing, Lotus Corporate Park, Jay Coach Junction, Off Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India |
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Tel. No.: |
91-22-42101992 / 42175300 / 42175309 / 42101959 |
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Fax No.: |
91-22-42101959/ 42101901 |
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E-Mail : |
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Website: |
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Corporate Office.: |
Kushal House 384, V S Road, Prabhadevi, Mumbai – 400025, Maharashtra,
India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sanjay Navin Vakharia |
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Designation : |
Whole-Time Director |
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Address : |
13/7, Aman, 3rd Floor, Vrindavan Society, 23, N.S. Mankikar Marg, Sion (East), Mumbai - 400022, Maharashtra, India |
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Date of Birth/Age : |
09.08.1977 |
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Date of Appointment : |
27.03.2006 |
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PAN No.: |
AAAPV5808K |
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DIN No.: |
00280873 |
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Name : |
Mr. Rajan Mittal |
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Designation : |
Director |
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Address : |
Unit C-20-1, Hijauan Kiara Condominium, No.6, Jalan Kiara 5, Mont Kiara, Kualalampur - 50480, Malaysia |
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Date of Birth/Age : |
13.01.1966 |
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Date of Appointment : |
26.06.2014 |
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DIN No.: |
02191501 |
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Other Directorship:
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Name : |
Mr. Uday Singh Singhi |
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Designation : |
Director |
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Address : |
Olympic Residences B, Tower 2 - Apt 2094, 28 October Street 353, Limassol, 3107, Cyprus |
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Date of Birth/Age : |
04.02.1952 |
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Date of Appointment : |
26.06.2014 |
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DIN No.: |
02201771 |
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Other Directorship:
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Name : |
Mr. Prasad Ghanshyam Desai |
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Designation : |
Director |
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Address : |
B-102, Om Ganesh Co-Operative Housing Society Limited, Chogle Nagar, Sawarpada, Borivali (East), Mumbai - 400066, Maharashtra, India |
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Date of Birth/Age : |
24.06.1967 |
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Date of Appointment : |
23.04.2014 |
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DIN No.: |
03570407 |
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Other Directorship:
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Name : |
Mr. Jayanta Kumar Sinha |
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Designation : |
Director |
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Address : |
A/301, Radha Madhav, Radha Residency CHS Limited, Opposite Dhiraj Savera, Siddharth Nagar, Borivali (East), Mumbai – 400066, Maharashtra, India |
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Date of Appointment : |
15.03.2017 |
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DIN No.: |
02009697 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Bhavini Premchand Shah |
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Designation : |
Secretary |
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Address : |
206/41, Shreemangal Co-Operative Housing Society Limited, Sector 2, Charkop, Kandivali (West), Mumbai - 400067, Maharashtra, India |
|
Date of Appointment : |
11.02.2013 |
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PAN No.: |
AOMPS2423K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Equity Shareholders |
|
No. of Shares |
|
Metdist Industries Holdings Limited |
|
8409600 |
|
Metmin Investments Holdings Limited |
|
7478850 |
|
Prasad Mahadeo Pabrekar |
|
1806750 |
|
Metmin Investments and Trading Private Limited |
|
372300 |
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Total |
|
18067500 |
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Names of Preference Shareholders |
|
No. of Shares |
|
Metdist Industries Holdings Limited |
|
1445400 |
|
Total |
|
1445400 |
Equity Share Break up (Percentage of Total Equity)
As on 19.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
90.00 |
|
Public/Other than promoters (Individual/Hindu Undivided Family-Indian) |
10.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and selling readymade garments apparel through a network of exclusive business outlets, multi-brand outlets and large retails chains. (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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
D.S.K. and Associates Chartered Accountants |
|
Address : |
19, Andheri Universal Industrial Premises Society Limited, 57, J.P. Road, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD5962C |
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Holding Company : |
Metdist Industries Holdings Limited (w.e.f. 21st September 2016) |
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|
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|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
|
CAPITAL STRUCTURE
As on 19.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22500000 |
Equity Shares |
INR 10/- each |
INR 225.000 Million |
|
7500000 |
Preference Shares |
INR 10/- each |
INR 75.000 Million |
|
|
Total |
|
INR 300.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18067500 |
Equity Shares |
INR 10/- each |
INR 180.675
Million |
|
1445400 |
Preference Shares |
INR 10/- each |
INR 14.454 Million |
|
|
Total |
|
INR 195.129
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
195.129 |
195.129 |
195.129 |
|
(b) Reserves & Surplus |
301.054 |
250.027 |
141.297 |
|
(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) |
496.183 |
445.156 |
336.426 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
871.444 |
574.056 |
4.913 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
247.512 |
219.331 |
175.641 |
|
(d) Long-term
provisions |
21.710 |
18.508 |
15.440 |
|
Total Non-current
Liabilities (3) |
1140.666 |
811.895 |
195.994 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
259.716 |
328.200 |
569.888 |
|
(b) Trade
payables |
612.419 |
554.408 |
466.631 |
|
(c) Other
current liabilities |
77.991 |
101.947 |
44.057 |
|
(d) Short-term
provisions |
0.802 |
0.825 |
176.583 |
|
Total Current
Liabilities (4) |
950.928 |
985.380 |
1257.159 |
|
|
|
|
|
|
TOTAL |
2587.777 |
2242.431 |
1789.579 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
478.194 |
56.507 |
62.423 |
|
(ii)
Intangible Assets |
1.528 |
3.343 |
2.692 |
|
(iii)
Capital work-in-progress |
12.236 |
356.064 |
62.092 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.860 |
3.860 |
3.860 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
285.950 |
264.580 |
241.812 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
781.768 |
684.354 |
372.879 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
455.563 |
399.542 |
280.290 |
|
(c) Trade
receivables |
1298.910 |
1112.910 |
1083.803 |
|
(d) Cash
and cash equivalents |
12.260 |
3.689 |
23.138 |
|
(e)
Short-term loans and advances |
10.993 |
13.301 |
10.376 |
|
(f) Other
current assets |
28.283 |
28.635 |
19.093 |
|
Total
Current Assets |
1806.009 |
1558.077 |
1416.700 |
|
|
|
|
|
|
TOTAL |
2587.777 |
2242.431 |
1789.579 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
3044.700 |
2501.296 |
1974.594 |
|
|
Other Income |
6.953 |
3.972 |
1.139 |
|
|
TOTAL |
3051.653 |
2505.268 |
1975.733 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1761.674 |
1504.654 |
1255.867 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(56.003) |
(123.128) |
(121.112) |
|
|
Employees benefits
expense |
223.299 |
188.921 |
165.816 |
|
|
CSR expenditure |
0.777 |
0.301 |
0.617 |
|
|
Other expenses |
904.742 |
703.707 |
557.390 |
|
|
Exceptional items |
15.000 |
13.599 |
7.500 |
|
|
TOTAL |
2849.489 |
2288.054 |
1866.078 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
202.164 |
217.214 |
109.655 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
139.823 |
99.414 |
95.585 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
62.341 |
117.800 |
14.070 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
11.314 |
9.070 |
12.136 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
51.027 |
108.730 |
1.934 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
51.027 |
108.730 |
1.934 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(462.239) |
(570.969) |
(565.397) |
|
|
|
|
|
|
|
Add |
Transitional Provision
for Depreciation charge |
0.000 |
0.000 |
(7.506) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
(411.212) |
(462.239) |
(570.969) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
2.71 |
6.02 |
0.11 |
|
|
Diluted |
2.62 |
5.57 |
0.11 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
50.522 |
70.731 |
13.500 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
454.733 |
(75.385) |
(86.977) |
|
Net cash flow from operating activity |
454.733 |
(75.385) |
(86.977) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
155.71 |
162.40 |
200.34 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
2.34 |
2.25 |
1.82 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
126.89 |
134.49 |
135.62 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.44 |
0.54 |
0.39 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.41 |
0.52 |
0.86 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.72 |
0.73 |
0.71 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.38 |
2.19 |
1.75 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.92 |
2.21 |
3.74 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.99 |
0.93 |
0.38 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.45 |
2.18 |
1.15 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
% |
1.68 |
4.35 |
0.10 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.97 |
4.85 |
0.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.28 |
24.43 |
0.57 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.90 |
1.58 |
1.13 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.42 |
1.18 |
0.90 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.19 |
0.20 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
6.06 |
4.99 |
3.01 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.90 |
1.58 |
1.13 |
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 |
195.129 |
195.129 |
195.129 |
|
Reserves & Surplus |
141.297 |
250.027 |
301.054 |
|
Net worth |
336.426 |
445.156 |
496.183 |
|
|
|
|
|
|
long-term borrowings |
4.913 |
574.056 |
871.444 |
|
Short term borrowings |
569.888 |
328.200 |
259.716 |
|
Current Maturities of
Long term debt |
13.500 |
70.731 |
50.522 |
|
Total borrowings |
588.301 |
972.987 |
1181.682 |
|
Debt/Equity ratio |
1.749 |
2.186 |
2.382 |
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 |
1974.594 |
2501.296 |
3044.700 |
|
|
|
26.674 |
21.725 |
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 |
1974.594 |
2501.296 |
3044.700 |
|
Profit/(Loss) |
1.934 |
108.730 |
51.027 |
|
|
0.10% |
4.35% |
1.68% |
LEGAL
CASES
|
Bench:- Bombay |
|||||||
|
Presentation Date:- 07/09/2017 |
|||||||
|
Lodging No. : |
ITXAL/2177/2017 |
Failing Date:- |
07/09/2017 |
Reg. No.:- |
ITXA/1643/2017 |
Reg. Date:- |
13/11/2017 |
|
Petitioner:- |
THE PRINCIPAL COMMISSIONER OF INCOME TAX-13 |
Respondent:- |
SPYKAR LIFESTYLES PRIVATE LIMITED |
||||
|
Petn.Adv:- |
NIRMAL CHANDRA MOHANTY (I10407) |
||||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
||||
|
Status:- |
Pre-Admission |
Stage:- |
FOR ADMISSION – FRESH |
||||
|
Next Date:- |
22/11/2017 |
||||||
|
Coram:- |
HON'BLE SHRI JUSTICE A.S. OKA HON'BLE SHRI JUSTICE A. K. MENON |
||||||
|
|
|
||||||
|
Act. : |
Income Tax Act,1961 |
Under Section 260A |
|||||
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter involved
in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The 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 readymade garments apparel through a network of exclusive business outlets, multi-brand outlets and large retails chains.
RESULTS OF OPERATIONS
During the year, the Company is able to achieve net profit of INR 51.027 Million as against net profit of INR 108.730 Million in the previous year. During the year, turnover of the Company is increased by 21.94% over the previous Financial Year. The company recorded profit before tax and exceptional items of INR 138.952 Million as against INR 122.329 Million in the previous year after considering onetime special marketing cost of INR 72.925 lacs pertaining to IPL Franchisee Sponsorship. Increase in end of season sale discounts and demonetisation effect during the seasonal sale period also impacted the profitability.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loans from banks |
555.296 |
168.407 |
|
Loans repayable on demand |
316.148 |
405.491 |
|
|
|
|
|
Total |
871.444 |
573.898 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C79184693 |
10453697 |
State Bank of India |
27/09/2013 |
29/01/2016 |
- |
704100000.0 |
IFB, Natraj Building, 102, 1st Floor, 194,Sir M V Road Western Express Highway, Andheri (EAST), Mumbai MAHARASHTRA 400069 INDIA |
|
2 |
G01845494 |
10510781 |
Union Bank of India |
17/06/2014 |
- |
16/04/2016 |
250200000.0 |
Lower Parel Branch, Yashwant Bhawan, Pandurang Bhudkar Marg, Lower Parel, Mumbai MAHARASHTRA 400013 INDIA |
|
3 |
G01326446 |
10500947 |
State Bank of India |
29/03/2014 |
- |
23/03/2016 |
30000000.0 |
IFB, Natraj Building, 102, 1st Floor, 194,Sir M V Road Western Express Highway, Andheri (EAST), Mumbai MAHARASHTRA 400069 INDIA |
|
4 |
C21516737 |
10056469 |
Standard Chartered Bank |
19/06/2007 |
- |
05/09/2014 |
200000000.0 |
90, M G Road, Fort, Mumbai MAHARASHTRA 400001 INDIA |
|
5 |
C05925060 |
10477516 |
UNION BANK OF INDIA |
04/01/2014 |
- |
17/05/2014 |
30000000.0 |
Lower Parel Branch,Yashwant Bhawan Pandurang Bhudkar Marg, Lower Parel, Mumbai MAHARASHTRA 400013 INDIA |
|
6 |
B89634356 |
10136365 |
14/05/2008 |
05/09/2012 |
29/10/2013 |
595400000.0 |
Mid Corporate Loan Administration Unit,R.T.O LaneAndheri (WEST) Mumbai MAHARASHTRA 400053 INDIA |
|
|
7 |
B89620124 |
90236391 |
STATE BANK OF INDIA |
02/02/2005 |
30/12/2011 |
29/10/2013 |
502600000.0 |
Industrial Finance Branch, Lekhraj Bhavan, Saki Vihar Road, Sakinaka, Andheri (East), Mumbai MAHARASHTRA 400072 INDIA |
|
8 |
B90001330 |
10142434 |
UNION BANK OF INDIA |
21/01/2009 |
- |
29/10/2013 |
150000000.0 |
Lower Parel Branch, Yeshwant Bhavan, Pandurang Budhkar Marg, Lower Parel Mumbai MAHARASHTRA 400013 INDIA |
|
9 |
B39561592 |
10232492 |
SICOM LIMITED |
21/06/2010 |
30/12/2011 |
18/05/2012 |
250000000.0 |
SOLITAIRE CORPORATE PARK, BUILDING NO. 4, GURUHARGOVINDJI ROAD, ANDHERI (EAST) Mumbai MAHARASHTRA 400093 INDIA |
|
10 |
B34887984 |
10063200 |
Barclays Bank Plc |
31/07/2007 |
12/01/2009 |
28/02/2012 |
120000000.0 |
801/808, Ceejay House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai MAHARASHTRA 400018 INDIA |
FIXED ASSETS
- Land
- Buildings
- Office building
- Factory building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- 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,
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 68.09 |
|
|
1 |
INR 91.41 |
|
Euro |
1 |
INR 79.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHAL |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.