|
|
|
MIRA
INFORM REPORT
|
Report No. : |
510221 |
|
Report Date : |
28.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
DEKI ELECTRONICS LIMITED (w.e.f. 12.08.1981) |
|
|
|
|
Formerly Known
As : |
DEKI ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
132, Somdutt Chambers-I,
Bhikaji Cama Place, New Delhi – 110066 |
|
Mobile No.: |
91-9810324518 (Mr. Shafiuddin) |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
23.01.1978 |
|
|
|
|
Com. Reg. No.: |
55-008845 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 23.956 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109DL1978PLC008845 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD1165A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
The Subject is principally engaged only in the business of manufacturing and sale of film capacitors (Registered activity) |
|
|
|
|
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company incorporated in the year 1978 and it
is having good track records. For the financial year 2017, the company has marginal decreased its
revenue from operations as compared to previous year and maintained average
profitability margin of 4.79%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and low balance sheet. Further, rating also derives strength from its established track
record of business operations along with market position. Trade relations are reported as fair. Business is active. Payment
terms are seems to be regular. In view of the 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.
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 = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
28.11.2017 |
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 28.05.2018
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
|
Name : |
Mr. Shafiuddin |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9810324518 |
|
Date : |
19.05.2018 |
LOCATIONS
|
Registered Office : |
132, Somdutt Chambers-I, |
|
Tel. No.: |
91-11-26186261 / 26161246 / 26182867 / 43022790 |
|
Mobile No.: |
91-9810324518 (Mr. Shafiuddin) |
|
Fax No.: |
91-11-26182867 |
|
E-Mail : |
|
|
|
|
|
Marketing Office / Administrative Office / Factory 1 : |
B-20, Sector - 58, District – Gautam Budh Nagar, Noida – 201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2584687 / 88 / 2585457 / 58 / 26161246 |
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Fax No.: |
91-120-2585289 / 26182867 |
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E-Mail : |
|
|
|
|
|
Factory 2 : |
D-19, Sector 10, Gautam Budh Nagar, Noida, |
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Tel. No.: |
91-120-2584687 / 88 |
|
Fax No.: |
91-120-2585289 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Vinod Sharma |
||||||||||||||||||||
|
Designation : |
Managing director |
||||||||||||||||||||
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Address : |
160 Munirka Enclave, |
||||||||||||||||||||
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Date of Birth/Age : |
20.09.1965 |
||||||||||||||||||||
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Qualification : |
Diploma in Hotel Management Catering Technology administration and
Applied Nutrition. |
||||||||||||||||||||
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Date of Appointment : |
11.08.1992 |
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PAN No.: |
AANPS2804D |
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DIN No.: |
00064374 |
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Other Directorship:
|
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|
||||||||||||||||||||
|
Name : |
Mr. Charu Gupta |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
405, Block – 3, Silver Estate, Sector – 50, Noida – 201301, Uttar
Pradesh, India |
||||||||||||||||||||
|
Date of Birth/Age : |
24.05.1969 |
||||||||||||||||||||
|
Qualification : |
B.A.(Hons) in French from JNU & Postgraduate Diploma from NIFT |
||||||||||||||||||||
|
Date of Appointment : |
17.08.1999 |
||||||||||||||||||||
|
PAN No.: |
ADHPG1072C |
||||||||||||||||||||
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DIN No.: |
00145037 |
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|
Other Directorship:
|
|||||||||||||||||||||
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|
|
||||||||||||||||||||
|
Name : |
Mr. Jai Kumar |
||||||||||||||||||||
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Designation : |
Whole-time director |
||||||||||||||||||||
|
Address : |
160 Munirka Enclave, |
||||||||||||||||||||
|
Date of Birth/Age : |
05.02.1930 |
||||||||||||||||||||
|
Qualification : |
Msc in Chemistry |
||||||||||||||||||||
|
Date of Appointment : |
31.03.1982 |
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PAN No.: |
AAJPK4455G |
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|
DIN No.: |
00253838 |
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|
|
||||||||||||||||||||
|
Name : |
Mr. Promod Chawla |
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|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
K – 87, Hauz Khas Enclave, New Delhi 110016, India |
||||||||||||||||||||
|
Date of Birth/Age : |
16.04.1941 |
||||||||||||||||||||
|
Qualification : |
Bachelor of Arts, Alumni of IIMA + 40 years in Management + Internationnal Trade |
||||||||||||||||||||
|
Date of Appointment : |
18.08.2005 |
||||||||||||||||||||
|
PAN No.: |
AADPC0391B |
||||||||||||||||||||
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DIN No.: |
00646044 |
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|
||||||||||||||||||||
|
Name : |
Mrs. Ruchika Jaggi |
||||||||||||||||||||
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Designation : |
Director |
||||||||||||||||||||
|
Address : |
9 Wayfield Lane Cohoes, New York 12047 USA |
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Date of Birth/Age : |
25.12.1962 |
||||||||||||||||||||
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Qualification : |
B.A.(Hons) in Economics from LSR & MBA Finance from Virginia Technology USA |
||||||||||||||||||||
|
Date of Appointment : |
30.09.2011 |
||||||||||||||||||||
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PAN No.: |
AALPG0187F |
||||||||||||||||||||
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DIN No.: |
03336623 |
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|
|
||||||||||||||||||||
|
Name : |
Mr. Ranjit Kumar Whig |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
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Address : |
C-231, Defence Colony, New Delhi – 110024, India |
||||||||||||||||||||
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Date of Birth/Age : |
29.09.1941 |
||||||||||||||||||||
|
Qualification : |
MBA (Delhi Univ), Marine Engineering (Naval College of Engg. Lonavala),Post Graduate Naval Architecture ( Royal Naval College, Greenwich, London) |
||||||||||||||||||||
|
Date of Appointment : |
30.06.2011 |
||||||||||||||||||||
|
DIN No.: |
03378661 |
||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Shafiuddin |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Jai Kumar |
|
199170 |
|
Sharad Kumar |
|
300 |
|
Vinod Sharma |
|
50640 |
|
Shakuntla Kr. Kaint and V.P. Kaint |
|
10200 |
|
Charu Sheel S. Gupta |
|
42000 |
|
Ruchika Gupta |
|
47100 |
|
Deepika Sharma |
|
36300 |
|
Arnav Sahni and Charu Sahni |
|
3000 |
|
Rohan Sahni and Charu Sahni |
|
3000 |
|
Jai Kumar, Charu Sahni and Sadhna Sagar |
|
210 |
|
Jai Kumar and Ruchika Jaggi |
|
642000 |
|
Jai Kumar and Charu Sahni |
|
341100 |
|
Jai Kumar and Deepika Sharma |
|
346800 |
|
Deepika Sharma and Siddhant Sharma |
|
3000 |
|
Deepika Sharma and Shonan Sharma |
|
3000 |
|
Mansha Ram Agarwal and Manisha Garg |
|
15000 |
|
O.P. Agarwal / Vimla Agarwal/ Nandini Verma |
|
48000 |
|
Vimla Agarwal / Nandini Verma |
|
4800 |
|
Charu Sahni and Jai Kumar |
|
300000 |
|
Deepika Sharma and Jai Kumar |
|
300000 |
|
Total |
|
2395620 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
63.84 |
|
Public – (Individual/ Hindu
Undivided Family – Indian |
31.98 |
|
Public – (Individual/ Hindu
Undivided Family – Non-resident Indian (NRI) |
4.18 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is principally engaged only in the business of manufacturing and sale of film capacitors (Registered activity) |
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Products : |
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||||||||||||||||||||||
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Imports : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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||||||||||||||||||||||
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Customers : |
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||||||||||||||||||||||
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|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
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|
|
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
R. K. Lal and Co Chartered Accountants |
|
Address : |
B-45, Ansal Chambers-1, 3 Bhikaji Cama Place, New Delhi – 110066, India |
|
Tel. No.: |
91-11-32993977 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFR6990E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
U74899DL1995PTC071716
U74899DL1995PTC069201 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2395620 |
Equity Shares |
INR 10/- each |
INR 23.956 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 |
23.956 |
23.956 |
7.985 |
|
(b) Reserves & Surplus |
379.885 |
344.459 |
299.683 |
|
(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) |
403.841 |
368.415 |
307.668 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
99.520 |
75.375 |
102.477 |
|
(b) Deferred tax liabilities
(Net) |
5.280 |
2.463 |
7.123 |
|
(c) Other long term
liabilities |
2.286 |
2.493 |
2.686 |
|
(d) long-term provisions |
16.312 |
15.659 |
14.588 |
|
Total
Non-current Liabilities (3) |
123.398 |
95.990 |
126.874 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
102.173 |
116.181 |
106.262 |
|
(b) Trade payables |
54.900 |
66.664 |
72.468 |
|
(c) Other current liabilities |
52.797 |
44.000 |
31.932 |
|
(d) Short-term provisions |
13.510 |
13.029 |
17.692 |
|
Total
Current Liabilities (4) |
223.380 |
239.874 |
228.354 |
|
|
|
|
|
|
TOTAL |
750.619 |
704.279 |
662.896 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
231.482 |
197.468 |
188.651 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
31.318 |
29.477 |
22.086 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
35.599 |
20.290 |
13.169 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
298.499 |
247.335 |
224.006 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
189.209 |
179.280 |
163.757 |
|
(c) Trade receivables |
215.719 |
214.407 |
195.354 |
|
(d) Cash and cash equivalents |
6.114 |
6.902 |
5.769 |
|
(e) Short-term loans and
advances |
39.143 |
50.219 |
73.439 |
|
(f) Other current assets |
1.935 |
6.136 |
0.571 |
|
Total
Current Assets |
452.120 |
456.944 |
438.890 |
|
|
|
|
|
|
TOTAL |
750.619 |
704.279 |
662.896 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
919.643 |
1035.336 |
903.879 |
|
|
Other Income |
2.102 |
0.471 |
0.858 |
|
|
TOTAL
|
921.745 |
1035.807 |
904.737 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
493.731 |
630.806 |
539.3 |
|
|
Purchases of Stock-in-Trade |
51.417 |
14.744 |
5.754 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.237) |
(9.513) |
10.635 |
|
|
Employees benefits expense |
155.102 |
154.699 |
142.48 |
|
|
CSR expenditure |
0.000 |
0.324 |
0.557 |
|
|
Other expenses |
107.432 |
107.956 |
90.771 |
|
|
TOTAL |
805.445 |
899.016 |
789.497 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
116.300 |
136.791 |
115.240 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
25.223 |
26.644 |
18.275 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
91.077 |
110.147 |
96.965 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
32.174 |
26.911 |
18.826 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
58.903 |
83.236 |
78.139 |
|
|
|
|
|
|
|
Less |
TAX |
14.827 |
13.84 |
25.837 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
44.076 |
69.396 |
52.302 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
320.406 |
279.269 |
239.540 |
|
|
|
|
|
|
|
Less |
Issue of Bonus Shares |
0.000 |
14.405 |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Dividend |
7.187 |
7.187 |
7.187 |
|
|
Corporate Dividend Tax |
1.463 |
1.463 |
1.463 |
|
|
Transfer to General Reserves |
3.306 |
5.204 |
3.923 |
|
|
Total
|
11.956 |
13.854 |
12.573 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
352.526 |
320.406 |
279.269 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
23.762 |
36.695 |
0.000 |
|
|
TOTAL EARNINGS |
23.762 |
36.695 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
301.930 |
308.809 |
301.953 |
|
|
Semi finished Capacitors |
115.649 |
250.376 |
180.661 |
|
|
PCS, ESS Tissue Dispenser etc. |
49.760 |
22.651 |
8.655 |
|
|
Components and Stores parts |
3.089 |
6.398 |
4.736 |
|
|
Machines |
56.213 |
18.393 |
82.716 |
|
|
TOTAL
IMPORTS |
526.641 |
606.627 |
578.721 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
18.00 |
29.00 |
21.83 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
22.991 |
19.898 |
10.908 |
|
Net cash flows from (used in) operations |
104.002 |
101.967 |
106.644 |
|
Net cash flows from (used in) operating activities |
63.952 |
61.483 |
61.069 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
85.62 |
75.59 |
78.89 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.26 |
4.83 |
4.63 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
36.76 |
37.69 |
48.53 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.61 |
0.76 |
0.70 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.44 |
0.60 |
0.55 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.46 |
0.48 |
0.52 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.56 |
0.57 |
0.71 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.55 |
0.65 |
0.74 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.65 |
0.62 |
0.68 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.61 |
5.13 |
6.31 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
4.79 |
6.70 |
5.79 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.87 |
9.85 |
7.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
10.91 |
18.84 |
17.00 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.02 |
1.90 |
1.92 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.18 |
1.16 |
1.20 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.54 |
0.52 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
9.38 |
8.83 |
27.51 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.02 |
1.90 |
1.92 |
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 |
7.985 |
23.956 |
23.956 |
|
Reserves & Surplus |
299.683 |
344.459 |
379.885 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
307.668 |
368.415 |
403.841 |
|
|
|
|
|
|
Long Term borrowings |
102.477 |
75.375 |
99.520 |
|
Short Term borrowings |
106.262 |
116.181 |
102.173 |
|
Current Maturities of Long term debt |
10.908 |
19.898 |
22.991 |
|
Total
borrowings |
219.647 |
211.454 |
224.684 |
|
Debt/Equity
ratio |
0.714 |
0.574 |
0.556 |
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
|
903.879 |
1035.336 |
919.643 |
|
|
|
14.544 |
(11.174) |
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
|
903.879 |
1035.336 |
919.643 |
|
Profit |
52.302 |
69.396 |
44.076 |
|
|
5.79% |
6.70% |
4.79% |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND
Subject (the company) was incorporated on 23rd January 1978 with the primarily objective of manufacturing and sale of Capacitors (electronic item). The registered office of the company is situated at 132, Somdutt Chamber-1, 5 Bhikaji Cama Place, New Delhi-110066.
These financial statements have been prepared for the year ended 31 March, 2017.
COMPANYS PERFORMANCE
Revenue from operation for the financial year 2016-17 at INR 921.700 Million was lower by 11.01% over last year (INR 1035.800 Million in 2016-17) Earnings before interest, tax, depreciation and amortization ( EBITDA) was INR 116.300 Million, registering a de-growth of 14.98% over EBIDTA of INR 136.800 Million in 2015-16. Profit after Tax (PAT) for the year was INR 43.600 Million recording a de-growth of 37.17% over the PAT of INR 69.400 Million in 2015-16.
FUTURE PROSPECTS
This has indeed been a challenging year. As anticipated, the shakeout in the product portfolio of their largest segment, lighting, from CFLs to LEDs has been disruptive. Their strategic response was twofold gain market share in LEDs and reduce their exposure to this segment. Significant progress in both these areas was made. Demonetization impacted their second largest segment, industrial, specifically the fan regulators market. A sharp decline in demand was witnessed for four months. While they managed to garner a higher share of the market, the total numbers were still poor compared with the previous year.
They are now preparing for the commencement of GST levy. They anticipate a few months of confusion and disruption in supply chains initially, followed by a stable growth led second half of the forthcoming year. They continue to focus on several new segments and exports in order to compensate for the likelihood of choppy markets. Given the long approval process for capacitors, they remain cautious in the short term while being positive about growth in the medium term.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Deposits from directors |
17.455 |
15.796 |
|
Deposits from others |
13.273 |
6.191 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Deposits from directors |
12.096 |
9.949 |
|
Deposits from shareholders |
3.404 |
5.591 |
|
Total |
46.228 |
37.527 |
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G39594270 |
100086578 |
Citi Bank N.A. |
26/12/2016 |
- |
- |
46500000.0 |
Jeevan Bharti Building,4th Floor124 Connaught Circus, Connaught PlaceNew DelhiDL110001IN |
|
2 |
C21418611 |
10520856 |
Citi Bank N.A. |
18/09/2014 |
- |
- |
70000000.0 |
Jeevan Bharti Building, 4th Floor,124 Connaught Circus, Connaught Place,New DelhiDL110001IN |
|
3 |
B37066222 |
10347988 |
Citibank N.A |
02/04/2012 |
- |
- |
55000000.0 |
Jeevan Bharti Building, 4th Floor124 Connaught Circus, Connaught PlaceNew DelhiDL110001IN |
|
4 |
C21420237 |
10347993 |
Citi Bank N.A. |
02/04/2012 |
18/09/2014 |
- |
80000000.0 |
Jeevan Bharti Building, 4th Floor,124 Connaught Circus, Connaught Place,New DelhiDL110001IN |
|
5 |
Y10132170 |
90052075 |
UTTAR PRADESH FINANCIAL CORPORATION |
24/03/1986 |
- |
- |
57500.0 |
14/88CIVIL LINESKANPURUPIN |
|
6 |
C36646446 |
90051962 |
Canara Bank |
19/08/1983 |
08/09/2014 |
- |
93500000.0 |
N-2 South ExtensionPart-1,New DelhiNew DelhiDL110049IN |
|
7 |
Y10132020 |
90051925 |
THE PRADESHIYA IDUSTRIAL & INVESTMENT CORPN. OF U.P. LTD. |
22/03/1982 |
- |
- |
3350000.0 |
2ND/3RD FLOORJAWAHAR BHAWAN; ANNEXE ASHOK MARGLUCKNOWUPIN |
|
8 |
C45874138 |
10179908 |
Canara Bank |
29/09/2009 |
- |
19/02/2015 |
1700000.0 |
SOUTH EXTENSIONNEW DELHIDL110049IN |
|
9 |
C45873312 |
10024834 |
Canara Bank |
08/11/2006 |
- |
19/02/2015 |
400000.0 |
SOUTH EX. PART -INEW DELHIDL110049IN |
|
10 |
C45870706 |
90052209 |
Canara Bank |
11/10/1988 |
06/12/1992 |
19/02/2015 |
200000.0 |
SOUTH EXTENSIONPART - INEW DELHIDLIN |
CONTINGENT
LIABILITIES:
a) An amount of INR 0.419 Million in respect of bond given to Excise Authorities for export and INR 3948.19 Million in respect of Bonds given to Excise Authorities for Import (Previous year INR 0.079 and INR 720.000 Million respectively).
b) Show cause notices received from excise department against modvate claim on outward freight (FOR destination price) for INR 1.394 Million (Previous year INR 0.896 Million)
c) LC to the tune of INR 8.306 Million was outstanding at the close of year. (Previous year INR 6.945 Million)
d) An amount of INR 1.993 Million on account of service tax deposited by Sai manpower on our behalf. Matter is pending with Excise tribunal.
e) An amount of INR 21.237 Million in respect of non receipt of C form and INR 0.043 Million in respect of non receipt of I form from customers for sales made up to quarter ended Dec 2016. (previous year INR 37.877 Million and 0.150 Million respectively)
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
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 68.38 |
|
|
1 |
INR 91.44 |
|
Euro |
1 |
INR 80.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
SUJ |
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.