|
|
|
MIRA INFORM REPORT
|
Report No. : |
510473 |
|
Report Date : |
23.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
WEIKFIELD FOODS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3A, 3rd Floor, Shri Satpal Malhotra Marg, Behind Novotel Hotel, Nagar Road, Pune – 411014, Maharashtra |
|
Tel. No.: |
91-20-66478300 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
30.03.1998 |
|
|
|
|
Com. Reg. No.: |
11-114249 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 27.371 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15549MH1998PTC114249 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AEHPT0198M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacturing and selling of various food products. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1998. For the financial year 2017, the company has achieved revenue growth
of 9.07% as compared to the previous year but has incurred operational loss. The satisfactory financial profile of the company is marked by
sufficient net worth base along with comfortable debt balance sheet profile. Rating takes into account the subject’s long established track record
of business operations along with extensive experience of its promoters. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 23.05.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
Management
Non-Cooperative (91-22-66478300 (Finance Department)
LOCATIONS
|
Registered Office/ Corporate Office : |
3A, 3rd Floor, Shri Satpal Malhotra Marg, Behind Novotel Hotel, Nagar Road, Pune – 411014, Maharashtra, India |
|
Tel. No.: |
91-20-66478300 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Lonikand Unit: Weikfield Estate, Gat No. 485, Lonikand, Nagar Road, Pune – 412216, Maharashtra, India Tel. No.: 91-20-66478300 / 66322323 Fax No.: 91-20-66322345 Bakori Unit: Gat No.323/331, Village Bakori, Taluka-Haveli, District Pune – 412207, Maharashtra, India Nalagarh Unit Village Bhatian, Tehsil Nalagarh, District Solan 174-101, Himachal Pradesh, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Ashwini Baldevraj Malhotra |
|
Designation : |
Managing director |
|
Address : |
A-8, Forest Park, Nagar Road, Pune – 411014, Maharashtra, India |
|
Date of Birth/Age : |
02.09.1959 |
|
Date of Appointment : |
02.05.2008 |
|
Qualification |
MBA Finance |
|
PAN No.: |
AAZPM6533B |
|
DIN No.: |
00129609 |
|
|
|
|
Name : |
Mr. Baldevraj Sitaram Malhotra |
|
Designation : |
Director |
|
Address : |
116, Koregaon Park, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
21.01.1934 |
|
Qualification |
Under Graduate |
|
Date of Appointment : |
30.03.1998 |
|
PAN No.: |
AAZPM6534G |
|
DIN No.: |
00610681 |
|
|
|
|
Name : |
Mr. Mukesh Satpal Malhotra |
|
Designation : |
Director |
|
Address : |
A-9, |
|
Date of Birth/Age : |
12.06.1952 |
|
Date of Appointment : |
30.03.1998 |
|
Qualification |
BE (Machanical) |
|
PAN No.: |
AAZPM6536E |
|
DIN No.: |
00129504 |
|
|
|
|
Name : |
Mr. Akshay Mukesh Malhotra |
|
Designation : |
Director |
|
Address : |
A-9, |
|
Date of Birth/Age : |
04.08.1976 |
|
Date of Appointment : |
29.09.2008 |
|
Qualification |
Engineering (System) |
|
PAN No.: |
ADFPM7655K |
|
DIN No.: |
00129626 |
|
|
|
|
Name : |
Mr. Parag Saxena |
|
Designation : |
Director |
|
Address : |
6, Timber Trail Rye, New York 10580, United States of America |
|
Date of Birth/Age : |
27.04.1955 |
|
PAN No.: |
ASEPS9618J |
|
Date of Appointment : |
19.09.2009 |
|
DIN No.: |
01713666 |
KEY EXECUTIVES
|
Name : |
Gaurav H.Bhutada |
|
Designation : |
Company Secretary |
|
Address : |
Office No 20,Nandlal Housing Society, 418, Narayan Peth, Pune-411030, Maharashtra, India |
|
Mob. No: |
91-9325559186 |
|
Email: |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
|
Mr. Mukesh Satpal Malhotra and Mrs. Ritu Mukesh Malhotra |
|
473520 |
|
Mr. Akshay Mukesh Malhotra and Mrs. Smriti Malhotra |
|
520075 |
|
Mr. Ashwini Baldevraj Malhotra and Mrs. Priti Ashwini Malhotra |
|
779160 |
|
Smt.Ritu Mukesh Malhotra and Mr. Mukesh Satpal Malhotra |
|
176823 |
|
Mrs. Priti Ashwini Malhotra and Mr. Ashwini Baldevraj Malhotra |
|
180395 |
|
Mr. Sanjay Kailash Kohli |
|
688 |
|
Mr Sandeep Bhushan Kumar and Mrs. Niti Sandeep Kumar |
|
608 |
|
Mr Parag Phoolchand Saxena and Mr. Siddharth Parag Saxena |
|
2722 |
|
Mr Parag Phoolchand Saxena and Mr. Tanya Parag Saxena |
|
2609 |
|
Mr Parag Phoolchand Saxena and Mr. Gaurav Parag Saxena |
|
2835 |
|
Mr Vijay Kewalramani |
|
18473 |
|
Amalgamated Bean Coffee Trading Company Limited |
|
4050 |
|
Mr. Parag Phoolchand Saxena |
|
104015 |
|
Weikfield Products Corporation LLP |
|
131360 |
|
Mr. Ishwar Sani |
|
18473 |
|
Miss. Saachi Malhotra Jointly/with Mr. Ashwini and Ms.Priti Malhotra |
|
132834 |
|
Miss. Avanti Malhotra Jointly/with Mr. Ashwini and Mrs.Priti Malhotra |
|
132834 |
|
Mrs. Smriti Malhotra Jointly/with Mr. Akshay Mukesh Malhotra |
|
45000 |
|
Mr. Baldevraj Sitaram Malhotra J/w Mr. Ashwini Baldevraj Malhotra |
|
5 |
|
Mr. Avinash Vazirani |
|
810 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
89.53 |
|
Promoters- Non-resident Indian (NRI) |
5.52 |
|
Promoters- Body corporate |
4.95 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing and selling of
various food products. (Registered Activity) |
||||||||||
|
|
|
||||||||||
|
Products / Services
: |
|
||||||||||
|
|
|
||||||||||
|
Brand Names : |
Not Available |
||||||||||
|
|
|
||||||||||
|
Agencies Held : |
Not Available |
||||||||||
|
|
|
||||||||||
|
Exports : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Imports : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Khandelwal Jain and Associates Chartered Accountants |
|
Address : |
Level 3, 1st Floor, Alankar Cinema Building, Business Bay, Wellesley Road, Near RTO, Sangam Bridge, Pune-411001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAOFK4306M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
After: 29.09.2017
Authorised Capital : INR
27.600 million
Issued, Subscribed & Paid-up Capital : INR
27.371 million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2750000 |
Equity Shares |
INR 10/- each |
INR 27.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2737094 |
Equity Shares |
INR 10/- each |
INR 27.371
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 |
27.371 |
27.371 |
27.371 |
|
(b) Reserves and Surplus |
341.084 |
365.268 |
413.685 |
|
(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) |
368.455 |
392.639 |
441.056 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
430.643 |
302.685 |
226.009 |
|
(b) Deferred tax liabilities (Net) |
26.155 |
39.267 |
23.200 |
|
(c) Other long-term
liabilities |
30.697 |
30.444 |
29.529 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
487.495 |
372.396 |
278.738 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
180.565 |
146.723 |
97.633 |
|
(c) Other
current liabilities |
90.129 |
73.872 |
57.700 |
|
(d) Short-term
provisions |
7.637 |
6.524 |
6.658 |
|
Total Current
Liabilities (4) |
278.331 |
227.119 |
161.991 |
|
|
|
|
|
|
TOTAL |
1134.281 |
992.154 |
881.785 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
267.426 |
273.830 |
284.379 |
|
(ii)
Intangible Assets |
3.454 |
4.867 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
166.408 |
0.000 |
6.653 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
49.454 |
43.395 |
34.790 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
486.742 |
322.092 |
325.822 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
194.055 |
192.055 |
149.575 |
|
(b)
Inventories |
177.205 |
194.380 |
176.644 |
|
(c) Trade
receivables |
260.021 |
265.628 |
218.638 |
|
(d) Cash and
bank balances |
8.245 |
6.491 |
1.312 |
|
(e)
Short-term loans and advances |
8.013 |
11.508 |
9.794 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
647.539 |
670.062 |
555.963 |
|
|
|
|
|
|
TOTAL |
1134.281 |
992.154 |
881.785 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1617.373 |
1482.905 |
1297.429 |
|
|
Other Income |
6.742 |
8.385 |
3.186 |
|
|
TOTAL |
1624.115 |
1491.290 |
1300.615 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
730.075 |
678.893 |
557.224 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
29.957 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
9.666 |
(8.986) |
(15.195) |
|
|
Employee benefit expense |
250.583 |
211.313 |
181.609 |
|
|
CSR expenditure |
0.633 |
0.000 |
0.000 |
|
|
Other expenses |
599.252 |
488.358 |
414.516 |
|
|
TOTAL |
1590.209 |
1369.578 |
1168.111 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
33.906 |
121.712 |
132.504 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
39.764 |
30.575 |
28.881 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(5.858) |
91.137 |
103.623 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
27.119 |
30.660 |
33.077 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(32.977) |
60.477 |
70.546 |
|
|
|
|
|
|
|
Less |
TAX |
(8.794) |
38.067 |
17.105 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(24.183) |
22.410 |
53.441 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
45.410 |
85.757 |
95.619 |
|
|
TOTAL EARNINGS |
45.410 |
85.757 |
95.619 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
29.184 |
36.318 |
37.749 |
|
|
TOTAL IMPORTS |
29.184 |
36.318 |
37.749 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(8.835) |
8.188 |
19.52 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
36.113 |
3.309 |
2.455 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
47.747 |
115.933 |
70.546 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
87.396 |
121.425 |
70.546 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
58.68 |
65.38 |
61.51 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
6.22 |
5.58 |
5.93 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
90.27 |
78.88 |
60.69 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.19 |
0.63 |
0.75 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.08 |
0.44 |
0.46 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.66 |
0.54 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
1.27 |
0.78 |
0.52 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.76 |
0.58 |
0.37 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
1.19 |
0.71 |
0.66 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
0.85 |
3.98 |
4.59 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
(1.50) |
1.51 |
4.12 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
(2.13) |
2.26 |
6.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
(6.56) |
5.71 |
12.12 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
2.33 |
2.95 |
3.43 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories) /
Current Liabilities] |
|
1.69 |
2.09 |
2.34 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.32 |
0.40 |
0.50 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
17.05 |
11.18 |
8.35 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
2.33 |
2.95 |
3.43 |
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 |
27.371 |
27.371 |
27.371 |
|
Reserves & Surplus |
413.685 |
365.268 |
341.084 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
441.056 |
392.639 |
368.455 |
|
|
|
|
|
|
Long-term borrowings |
226.009 |
302.685 |
430.643 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
2.455 |
3.309 |
36.113 |
|
Total
borrowings |
228.464 |
305.994 |
466.756 |
|
Debt/Equity
ratio |
0.518 |
0.779 |
1.267 |
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 |
1297.429 |
1482.905 |
1617.373 |
|
|
0.000 |
14.296 |
9.068 |
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 |
1297.429 |
1482.905 |
1617.373 |
|
Profit/ (Loss) |
53.441 |
22.410 |
(24.183) |
|
|
4.12
% |
1.51
% |
(1.50
%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
Subject is a private limited company domiciled in India and incorporated under the provisions of the Companies Act, 2013. The Company is engaged in the manufacturing and selling of various food products. The Company caters to both domestic and international markets. The Company has 20 depots across India through which it operates it's business.
REVIEW OF OPERATIONS
AND FUTURE PLANS:
The profitability of your company continued to be under pressure during FY 2016-17, despite a 9% increase in sales growth over the previous year. This was primarily due to the extensive sales promotion of the new products recently introduced in the domestic market viz. Organic Green Teas, Pasta, Falooda Mixes and Cake Mixes. Their Pasta especially, being imported from Italy, was sold at very low gross margins due to high import duties.
Further due to many small mushroom farms having coming up recently in the Mumbai-Pune region, the profitability of our Fresh Mushrooms Division (FMD) has been adversely impacted.
In the current year FY 2017-18, we are continuing to focus on growing the sales of the new products stated above, through various innovative sales & marketing initiatives. We are doing intensive R & D work for developing value added mushroom products in order to boost the profitability of our FMD.
Their new pasta plant was commissioned on 26th July, 2017 and we have started manufacturing our own high quality durum wheat pastas for the domestic market at substantially higher gross margins. We have also shifted most of our Green Teas from Organic to Natural which will also have a positive impact on our overall profitability in the ensuing year.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G36428050 |
100077573 |
HDFC BANK LIMITED |
06/12/2016 |
29/12/2016 |
- |
200000000.0 |
HDFC Bank House, Senapati Bapat Marg,Lower Parel (West)MUMBAIMH400013IN |
|
2 |
G69749976 |
10553709 |
HDFC BANK LIMITED |
13/01/2015 |
13/10/2017 |
- |
80000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMumbaiMH400013IN |
|
3 |
C49061294 |
10116647 |
STATE BANK OF INDIA |
11/07/2008 |
08/07/2013 |
20/03/2015 |
45000000.0 |
1548/A SADASHIV PETH,TILAK ROADPUNEPUNEMH411030IN |
|
4 |
B08528812 |
90084426 |
INDIAN LTD. |
27/03/1996 |
08/08/1997 |
28/02/2011 |
30000000.0 |
163; BACKBAY RECLAMATIONMUMBAIMH400020IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Computer software
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 68.09 |
|
|
1 |
INR 91.25 |
|
Euro |
1 |
INR 80.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLK |
|
|
|
|
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.