|
|
|
MIRA INFORM REPORT
|
Report No. : |
511554 |
|
Report Date : |
26.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
DELTA ELECTRONICS INDIA PRIVATE LIMITED (w.e.f.
01.03.2016) |
|
|
|
|
Formerly Known
As : |
DELTA INDIA ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 43, Sector 35, HSIIDC, Gurugram-122001, Haryana |
|
Tel. No.: |
91-124-4874900 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
20.06.2008 |
|
|
|
|
Com. Reg. No.: |
05-038068 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 3243.543 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109HR2008FTC038068 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD9731G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is primarily engaged in the business of manufacturing and trading in various electronics items. (Registered Activity and also Confirmed by management) |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Delta Energy Systems (Singapore) Pte
Limited” and was incorporated in the year 2008. It is an established company
having satisfactory track records. The company has sound financial base and strong capital structure
along with debt free balance sheet. Rating takes into consideration strong managerial and financial
support received to the company from its holding entity. Rating also takes into account of well-established track record of
business operations and marked position. However, rating strength is partially offset due to losses incurred by
the company from last 2 years of its business operations. Trade relations are reported as fair. Business is active. Payments are
usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
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 26.05.2018
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
|
Name : |
Mr. Bhaskar Reddy |
|
Designation : |
Assistant Sales Manager |
|
Contact No.: |
91-9594007666 |
|
|
|
|
Name : |
Mr. Rehan Mohammed |
|
Designation : |
Deputy Manager |
|
Contact No.: |
91-9342283514 |
|
Date : |
25.05.2016 |
LOCATIONS
|
Registered Office/Factory : |
Plot No. 43, Sector 35, HSIIDC, Gurugram-122001, Haryana, India |
|
Tel. No.: |
91-124-4874900 |
|
Fax No.: |
91-124-4874945 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
Sy No 1005, Chennaithur Village , Hosur-635109, Tamilnadu, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Dalip Kumar Sharma |
||||||||
|
Designation : |
Managing Director |
||||||||
|
Address : |
D-301, Palm Drive, Sector-66 Golf Course Extension Road Gurugram-122101, Haryana, India |
||||||||
|
Date of Birth/Age : |
05.06.1966 |
||||||||
|
Date of Appointment : |
20.06.2008 |
||||||||
|
PAN No.: |
AIGPS1511A |
||||||||
|
DIN No.: |
00037218 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Beau Yu |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
714, Bangpoo Industrial Estate, EPZ 502 Sukhumvit Road, KM 37 Tambol
Phraksa, Amphurmuang – 10280, Samutprakarn, Thailand |
||||||||
|
Date of Birth/Age : |
21.10.1961 |
||||||||
|
Date of Appointment : |
20.06.2008 |
||||||||
|
DIN No.: |
00684114 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Shen Yen Hsieh |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
714, SOI, E 5 EPZ Bangpoo Industrial Estate, Sukhumvit Road,
Samutprakarn Bangkok- 10280, Thailand |
||||||||
|
Date of Appointment : |
07.07.2014 |
||||||||
|
DIN No.: |
06894689 |
||||||||
|
Other Directorship:
|
|||||||||
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Gupta |
|
Designation : |
Company Secretary |
|
Address : |
House No.13, Sector 7A, |
|
Date of Birth/Age : |
06.01.1976 |
|
Date of Appointment : |
01.01.2009 |
|
PAN No. : |
AGVPG8093L |
|
|
|
|
Name : |
Mr. Bhaskar Reddy |
|
Designation : |
Assistant Sales Manager |
|
|
|
|
Name : |
Mr. Rehan Mohammed |
|
Designation : |
Deputy Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Delta Energy Systems (Singapore) Pte Limited, Singapore |
|
324354324 |
|
DET International Holding Limited, Island |
|
1 |
|
Total |
|
324354325 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters (Others - Foreign Body Corporates) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is primarily engaged in the business of manufacturing and trading in various electronics items. (Registered Activity and also Confirmed by management) |
||||||||
|
|
|
||||||||
|
Products / Services
: |
|
||||||||
|
|
|
||||||||
|
Brand Names : |
Not Available |
||||||||
|
|
|
||||||||
|
Agencies Held : |
Not Available |
||||||||
|
|
|
||||||||
|
Exports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Imports : |
|||||||||
|
Products : |
Raw Material |
||||||||
|
Countries : |
China |
||||||||
|
|
|
||||||||
|
Terms : |
|||||||||
|
Selling : |
L/C, Advance Payment, Cheque, Cash and Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
L/C, Advance Payment, Cheque, Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
50 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
Golf View Corporate Tower B, Sector 42, Gurugram -122002, Haryana, India |
|
PAN No.: |
ACHFS9180N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
|
|
|
|
|
Ultimate
Holding Company: |
|
|
|
|
|
Fellow
Subsidiary Company: |
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
Management personnel and their relatives: |
|
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
607000000 |
Equity Shares |
INR 10/- each |
INR 6070.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
324354325 |
Equity Shares |
INR 10/- each |
INR 3243.543 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 |
3243.543 |
2581.297 |
1604.447 |
|
(b) Reserves and Surplus |
116.747 |
48.262 |
(103.817) |
|
(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) |
3360.290 |
2629.559 |
1500.630 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
6.542 |
3.843 |
2.970 |
|
Total Non-current
Liabilities (3) |
6.542 |
3.843 |
2.970 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
20.000 |
|
(b) Trade
payables |
641.815 |
624.438 |
605.485 |
|
(c) Other
current liabilities |
80.865 |
83.881 |
49.617 |
|
(d) Short-term
provisions |
29.337 |
23.426 |
21.450 |
|
Total Current
Liabilities (4) |
752.017 |
731.745 |
696.552 |
|
|
|
|
|
|
TOTAL |
4118.849 |
3365.147 |
2200.152 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1766.990 |
1321.799 |
653.246 |
|
(ii)
Intangible Assets |
4.060 |
2.780 |
0.292 |
|
(iii) Tangible assets
capital work-in-progress |
45.208 |
48.480 |
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) |
38.632 |
43.200 |
37.990 |
|
(d)
Long-term loans and advances |
505.187 |
54.689 |
39.448 |
|
(e) Other
Non-current assets |
0.448 |
0.430 |
0.000 |
|
Total Non-Current
Assets |
2360.525 |
1471.378 |
730.976 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
657.576 |
699.609 |
573.258 |
|
(c) Trade
receivables |
770.370 |
817.338 |
688.399 |
|
(d) Cash and
bank balances |
192.050 |
243.955 |
66.493 |
|
(e)
Short-term loans and advances |
137.676 |
128.642 |
141.026 |
|
(f) Other
current assets |
0.652 |
4.225 |
0.000 |
|
Total
Current Assets |
1758.324 |
1893.769 |
1469.176 |
|
|
|
|
|
|
TOTAL |
4118.849 |
3365.147 |
2200.152 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3084.689 |
2444.574 |
2403.186 |
|
|
Other Income |
74.250 |
35.756 |
39.671 |
|
|
TOTAL |
3158.939 |
2480.330 |
2442.857 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
609.942 |
402.872 |
530.132 |
|
|
Purchases of
Stock-in-Trade |
1693.836 |
1573.365 |
1425.050 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
116.088 |
(40.806) |
(168.729) |
|
|
Employee benefit expense |
374.559 |
285.563 |
230.985 |
|
|
CSR expenditure |
0.000 |
0.321 |
0.000 |
|
|
Other expenses |
361.874 |
336.310 |
283.034 |
|
|
Prior period items before tax |
0.000 |
4.168 |
(7.526) |
|
|
TOTAL |
3156.299 |
2561.793 |
2292.946 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2.640 |
(81.463) |
149.911 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
14.540 |
15.536 |
5.879 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(11.900) |
(96.999) |
144.032 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
89.881 |
64.282 |
69.927 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(101.781) |
(161.281) |
74.105 |
|
|
|
|
|
|
|
Less |
TAX |
4.568 |
(5.211) |
(20.070) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(106.349) |
(156.070) |
94.175 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
103.667 |
111.100 |
304.158 |
|
|
TOTAL EARNINGS |
103.667 |
111.100 |
304.158 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
477.486 |
375.820 |
414.334 |
|
|
Components and spare
parts |
1477.104 |
1435.364 |
1326.423 |
|
|
Capital Goods |
35.479 |
24.336 |
1.408 |
|
|
TOTAL IMPORTS |
1990.070 |
1835.520 |
1742.165 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(0.39) |
(0.80) |
0.59 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
53.520 |
(275.624) |
120.875 |
|
Net cash flows from (used in) operating activities |
50.605 |
(279.935) |
115.002 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
91.16 |
122.04 |
104.56 |
|
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
4.00 |
2.99 |
3.49 |
|
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
101.69 |
115.33 |
113.03 |
|
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
0.00 |
(0.12) |
0.26 |
|
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
0.00 |
(0.06) |
0.23 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
0.18 |
0.22 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
0.00 |
0.00 |
0.01 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
0.22 |
0.28 |
0.46 |
|
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
0.54 |
0.52 |
0.44 |
|
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
0.18 |
(5.24) |
25.50 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
(%) |
(3.45) |
(6.38) |
3.92 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
(%) |
(2.58) |
(4.64) |
4.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
(%) |
(3.16) |
(5.94) |
6.28 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
2.34 |
2.59 |
2.11 |
|
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
1.46 |
1.63 |
1.29 |
|
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
0.82 |
0.78 |
0.68 |
|
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
0.00 |
0.00 |
0.01 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
2.34 |
2.59 |
2.11 |
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 |
1604.447 |
2581.297 |
3243.543 |
|
Reserves & Surplus |
(103.817) |
48.262 |
116.747 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1500.630 |
2629.559 |
3360.290 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
20.000 |
0.000 |
0.000 |
|
Total
borrowings |
20.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.013 |
0.000 |
0.000 |
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 |
2403.186 |
2444.574 |
3084.689 |
|
|
|
1.722 |
26.185 |
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 |
2403.186 |
2444.574 |
3084.689 |
|
Profit/ (Loss) |
94.175 |
(156.070) |
(106.349) |
|
|
3.92
% |
(6.38
%) |
(3.45
%) |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from “Plot No.26, Sector 34, EHTP, Gurugram, Haryana, India ”to the present address w.e.f. 31.03.2010
GENERAL INFORMATION ABOUT COMPANY
Delta Electronics India Private Limited (Formerly Delta India Electronics Private Limited) (hereinafter referred as 'the company') is a private limited company domiciled in India with the primary objective of manufacturing and trading in various electronics items in the segment of Industrial Automation products [IABU], Visual Display products [VDBU] etc.
REVIEW OF BUSINESS
OPERATIONS AND FUTURE PROSPECTS
The Company has reported total Income of INR 3158.938 million for the Current Year as compared to total income of INR 2480.329 million in the previous year and the Net Profit/(Loss) amounting to INR (106.348) million in the Current Year as compared to INR (156.070) million in the previous year. In the FY 2016-17, Company revenue is increased however due to the market challenges, competitive environment, business expansion plans, increase in cost of raw material and demonetization initiative in second half of the year, the Company has reported net loss of INR (106.348) million during the year 2016-17.However, the Company is confident to recover the business in the future years. The Company is in process to expand its business in the southern region. To give effect the Company has purchased land from government authorities i.e. State Industries Promotion Corporation of Tamilnadu Limited (SIPCOT) to set-up new manufacturing plant in Krishnagiri region of Tamilnadu. At the same time, in view of the promising state of our country's economy, company is making its best efforts to take the first mover advantage and capitalize the opportunities in the best interest of the company. Your company offers industrial automation and display solutions electronic products and components including large size video walls / cubes, video controller, Industrial Automation products. and also stared business into solar products from the last quarter of the year.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
AMOUNT |
ADDRESS |
|
1 |
G21197967 |
100059649 |
BNP PARIBAS BANK |
16/08/2016 |
427929.0 |
EAST TOWERS (SOOD TOWERS) 25, BARAKHAMBA ROADNEW DELHI-110001,INDIA |
FIXED ASSETS:
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment’s
- Leasehold improvements
- 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 67.52 |
|
|
1 |
INR 91.48 |
|
Euro |
1 |
INR 80.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHI |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
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 |
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.