|
|
|
MIRA
INFORM REPORT
|
Report No. : |
510849 |
|
Report Date : |
25.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT PICKERS INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
404/405, Atlanta Complex, Gulbai Tekra, Ambawadi, Near Panchvati Cross
Road, Ahmedabad - 380009, Gujarat |
|
Tel. No.: |
91-79-26421810 / 11 / 12 / 26421831 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
31.08.2001 |
|
|
|
|
Com. Reg. No.: |
04-039959 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 32.160 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23209GJ2001PLC039959 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AABCG4582D1ZW |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG4582D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Exporter of Plastic Polymer, MTO Solvent, Benzene
Solvent, Sulphur Chemical, Crude Petroleum, Oil and Gas etc. (Registered Activity and Confirmed by management) |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2001 having moderate track record. It is engaged in trading of polymers, chemicals, and petroleum products. For the financial year 2017, the company has reported a marginal decline in its revenue as compared to its previous year along with thin profit margin during the year. Rating gets constrained on account of the weak financial profile marked by modest net worth base and weak debt protection metrics Rating further gets constrained by the huge borrowings by the company, which result into high working capital requirement and also factor in the high competitive intensity in the domestic market with presence of other distributors and traders. However, rating weakness are partially offset by the long and established track record of its business operation backed by experienced promoters in the polymers and chemical distribution business and also enjoys strong association with “Indian Oil Corporation Limited”. Payments seems to be slow but correct. In view of aforesaid the company can be considered for business dealings with some caution. |
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 |
CRISIL |
|
Rating |
Long Term rating = BB |
|
Rating Explanation |
Moderate risk of default |
|
Date |
03.05.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short-Term rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
03.05.2018 |
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 25.05.2018
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Vinesh Jani |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9909961578 |
|
Date : |
23.05.2018 |
LOCATIONS
|
Registered Office : |
404/405 Atlanta Complex, Gulbai Tekra, Ambawadi, Near Panchvati Cross
Road, Ahmedabad - 380009, Gujarat,
India |
|
Tel. No.: |
91-79-26421810 / 11 / 12 / 26421831 |
|
Mobile No.: |
91-9909961578 [Mr. Vinesh Jani] 91-9408778209 (Mr. Navin Parmar) |
|
Fax No.: |
91-79-26564649 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Branch Office: |
Godown No 11/A, Pancharatna Industrial Estate, Sarkhej Bavla Road,
Changodar, Ahmedabad - 380009, Gujarat,
India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Ratibhai Makwana |
|
Designation : |
Director |
|
Address : |
8, Satkar Colony, Opposite Niharika Bunglows, Near Azad Society, Ambawadi, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
15.03.1945 |
|
Date of Appointment : |
25.02.2017 |
|
DIN No.: |
00175776 |
|
|
|
|
Name : |
Mr. Vasantkumar Makwana |
|
Designation : |
Director |
|
Address : |
570/1, Mafatanagar, Bhavnagar - 364006, Gujarat, India |
|
Date of Birth/Age : |
15.05.1959 |
|
Date of Appointment : |
25.02.2017 |
|
DIN No.: |
00184796 |
|
|
|
|
Name : |
Mr. Pratik Mohanlal Solanki |
|
Designation : |
Director |
|
Address : |
23, Hans Residency, Near Anand Nagar Flats, Prahlad Nagar, Ahmedabad - 380051, Gujarat, India |
|
Date of Birth/Age : |
20.01.1987 |
|
Date of Appointment : |
25.02.2017 |
|
DIN No.: |
06378745 |
KEY EXECUTIVES
|
Name : |
Mr. Vinesh Jani |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Kamlaben Ratilal Makwana |
|
254104 |
|
Minaxiben Vasantrai Makwana |
|
100000 |
|
Vasantrai Galabhai Makwana |
|
1084660 |
|
Dollyben Chiragbhai Makwana |
|
174250 |
|
Pratik M. Solanki |
|
841858 |
|
Kalpanaben M Solanki |
|
290007 |
|
M. D. Solanki |
|
19979 |
|
Nivedita Makwana |
|
93500 |
|
Vidhiben Makwana |
|
350435 |
|
Ratilal Galabhai Makwana |
|
7247 |
|
Total |
|
3216040 |
AS ON 29.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter of Plastic Polymer, MTO Solvent, Benzene
Solvent, Sulphur Chemical, Crude Petroleum, Oil and Gas etc. (Registered Activity and Confirmed by management) |
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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 : |
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Products : |
Finished goods |
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Countries : |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Credit [30/60 Days] |
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Purchasing : |
Credit [30/60 Days] |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Retailers, End Users and OEM’s
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Facilities : |
Note: LONG-TERM
BORROWINGS HDFC BANK (TANKER LOAN
A/C) NO- 81106001 Security:- Secured against
hypothecation of tanker Term Of Repayment- The repayment of loan in
48 equal monthly instalments. On Balance Sheet date 28 equal monthly instalment
in all amount of INR 0.049 million were outstanding. HDFC BANK (TANKER LOAN
A/C) NO- 81089956 Security:- Secured against
hypothecation of tanker Term Of Repayment- The repayment of loan in
48 equal monthly instalments. On Balance Sheet date 16 equal monthly instalment
in all amount of INR 0.049 million were outstanding. HDFC TANK LOAN Security:- Secured against
hypothecation of tank Term Of Repayment- The repayment of loan in
48 equal monthly instalments. On Balance Sheet date 17 equal monthly instalment
in all amount of INR 0.008 million were outstanding |
|
Auditors : |
|
|
Name : |
A. D. Brahmbhatt and Company Chartered Accountants |
|
Address : |
A 27, CP Nagar Part-II, Ghatlodia, Ahmedabad – 380061, Gujarat, India |
|
PAN No.: |
ABRPB0187F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
INR 10/- each |
INR 40.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3216040 |
Equity Shares |
INR 10/- each |
INR 32.160 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
32.160 |
32.160 |
32.160 |
|
(b) Reserves &
Surplus |
73.759 |
64.176 |
57.238 |
|
(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) |
105.919 |
96.336 |
89.398 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
15.278 |
15.342 |
13.568 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
15.278 |
15.342 |
13.568 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
307.071 |
430.396 |
410.825 |
|
(b) Trade payables |
3.456 |
27.871 |
3.428 |
|
(c) Other current
liabilities |
17.835 |
13.146 |
11.090 |
|
(d) Short-term provisions |
0.877 |
0.728 |
2.063 |
|
Total Current Liabilities
(4) |
329.239 |
472.141 |
427.406 |
|
|
|
|
|
|
TOTAL |
450.436 |
583.819 |
530.372 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7.571 |
9.617 |
11.496 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.565 |
0.273 |
0.252 |
|
(d) Long-term Loan and Advances |
0.058 |
7.586 |
4.705 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
8.194 |
17.476 |
16.453 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
12.950 |
23.747 |
25.403 |
|
(c) Trade receivables |
400.632 |
512.231 |
444.547 |
|
(d) Cash and cash
equivalents |
10.213 |
9.904 |
22.505 |
|
(e) Short-term loans and
advances |
11.898 |
15.041 |
0.000 |
|
(f) Other current assets |
6.549 |
5.420 |
21.464 |
|
Total Current Assets |
442.242 |
566.343 |
513.919 |
|
|
|
|
|
|
TOTAL |
450.436 |
583.819 |
530.372 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
764.181 |
776.609 |
518.782 |
|
|
Other Income |
36.607 |
38.041 |
48.872 |
|
|
TOTAL |
800.788 |
814.650 |
567.654 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
626.753 |
634.545 |
392.111 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
10.797 |
1.656 |
7.074 |
|
|
Employees benefits
expense |
8.397 |
9.736 |
8.164 |
|
|
Other expenses |
97.367 |
107.031 |
100.910 |
|
|
TOTAL |
743.314 |
752.968 |
508.259 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
57.474 |
61.682 |
59.395 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
41.714 |
47.203 |
44.251 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
15.760 |
14.479 |
15.144 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
2.448 |
3.368 |
3.181 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
13.312 |
11.111 |
11.963 |
|
|
|
|
|
|
|
Less |
TAX |
3.898 |
4.173 |
4.081 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
9.414 |
6.938 |
7.882 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
2.93 |
2.16 |
2.45 |
|
|
Diluted |
|
2.16 |
2.45 |
|
Particulars |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
800.000 |
The above information has been parted by Mr. Vinesh Jani (Finance
Manager)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
3.912 |
3.076 |
3.013 |
|
Cash generated from operations |
33.747 |
55.435 |
69.053 |
|
Net cash flows from operating activity |
29.726 |
51.241 |
64.732 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
191.36 |
240.74 |
312.77 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
1.91 |
1.52 |
1.17 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
2.01 |
16.03 |
3.19 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
4.44 |
2.60 |
2.34 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
7.59 |
6.41 |
5.17 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.77 |
0.84 |
0.84 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
3.08 |
4.66 |
4.78 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.11 |
4.90 |
4.78 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.07 |
0.10 |
0.13 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.38 |
1.31 |
1.34 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
1.23 |
0.89 |
1.52 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.09 |
1.19 |
1.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
8.89 |
7.20 |
8.82 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.34 |
1.20 |
1.20 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.30 |
1.15 |
1.14 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.24 |
0.17 |
0.17 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
10.14 |
13.96 |
13.29 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.34 |
1.20 |
1.20 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
32.160 |
32.160 |
32.160 |
|
Reserves & Surplus |
57.238 |
64.176 |
73.759 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
89.398 |
96.336 |
105.919 |
|
|
|
|
|
|
long-term borrowings |
13.568 |
15.342 |
15.278 |
|
Short term borrowings |
410.825 |
430.396 |
307.071 |
|
Current maturities of
long-term debts |
3.013 |
3.076 |
3.912 |
|
Total
borrowings |
427.406 |
448.814 |
326.261 |
|
Debt/Equity
ratio |
4.781 |
4.659 |
3.080 |
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 |
518.782 |
776.609 |
764.181 |
|
|
|
49.699 |
(1.600) |
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 |
518.782 |
776.609 |
764.181 |
|
Profit |
7.882 |
6.938 |
9.414 |
|
|
1.52% |
0.89% |
1.23% |
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 |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 four 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY OVERVIEW:
Subject is a limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is engaged in trading activity.
REVIEW OF BUSINESS
OPERATIONS AND FUTURE PROSPECTS
The total Income during the year has decrease from INR 814.650 million to INR 800.788 million in comparison with the previous financial year. However, The Net Profit after Tax has increases from INR 6.938 million to INR 9.414 million in comparison with the previous financial year. The directors are hopeful to get even better results in the upcoming years.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
From Directors |
8.492 |
7.307 |
|
Term Loans From Others |
6.324 |
5.948 |
|
Total |
14.816 |
13.255 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C48216329 |
10558238 |
HDFC BANK LIMITED |
19/08/2014 |
- |
- |
614000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
2 |
C15475650 |
10513567 |
HDFC BANK LIMITED |
19/07/2014 |
- |
- |
3866000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
6 |
Y10197033 |
90107341 |
BANK OF BARODA |
29/03/2004 |
02/05/2005 |
- |
65500000.0 |
LOKHAND BAZAR BUNDER ROAD BRANCH, BHAVANAGAR, GUJARAT, INDIA |
|
4 |
C51724227 |
10104830 |
BANK OF BARODA |
30/01/2008 |
24/04/2015 |
- |
85000000.0 |
MID CORPORATE BRANCH,1, GROUND FLOOR, JYOTI COMPLEX, NEAR PAREKHS HOSPITAL, SHYAMAL CROSS ROAD, SATELLITE, AHMEDABAD – 380015, GUJARAT, INDIA |
|
5 |
C51726396 |
10104831 |
BANK OF BARODA |
30/01/2008 |
24/04/2015 |
- |
85000000.0 |
MID CORPORATE BRANCH,1,GROUND FLOOR, JYOTI COMPLEX NEAR PAREKHS HOSPITAL, SHYAMAL CROSS ROAD, SATELLITE, AHMEDABAD – 380015, GUJARAT, INDIA |
|
3 |
B96281308 |
10386329 |
STATE BANK OF INDIA |
22/09/2012 |
19/12/2013 |
- |
500000000.0 |
MADHUPURA BRANCH, ADVANI MARKET, AHMEDABAD – 380023, GUJARAT, INDIA |
FIXED ASSETS:
· Buildings
· Plant and Machinery
· Furniture and Fittings
· Motor Vehicles
· Office equipment
· Computers and Data Processing Units
· Electrical Installations and Equipment
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 67.52 |
|
|
1 |
INR 91.48 |
|
Euro |
1 |
INR 80.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.