|
|
|
MIRA
INFORM REPORT
|
Report No. : |
510453 |
|
Report Date : |
28.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SHAH PULP AND PAPER MILLS LIMITED |
|
|
|
|
Formerly Known
As : |
SHAH PULP AND PAPER MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 209, 2nd Floor, M. L. Spaces, Dashrathlal Joshi Road, Vile
Parle (West), Mumbai-400056, Maharashtra |
|
Tel. No.: |
91-22-26161932 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
05.11.1993 |
|
|
|
|
Com. Reg. No.: |
11-074945 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 170.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21010MH1993PLC074945 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS6820K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of News Print and Writing Printing Paper. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Poor |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject was incorporated in the year 1993. It is a manufacturer of
paper and paper products. For the financial year 2017, the company has achieved revenue growth
of 47.48% as compared to the previous year but has incurred operational loss. The moderate financial profile of the company is marked by eroded net
worth base due to continuous loss incurred by the subject along with average
debt balance sheet profile. Payment seems to be slow. In view of aforesaid, dealings are recommended on safe and secured
terms. |
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
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 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 DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-22-26161932]
LOCATIONS
|
Registered Office : |
Office No. 209, 2nd Floor, M. L. Spaces, Dashrathlal Joshi Road, Vile
Parle (West), Mumbai-400056, Maharashtra, India |
|
Tel. No.: |
91-22-26161932/ 26121878 |
|
Fax No.: |
91-22-26173673 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No. 97, GIDC, Silvassa Road, Vapi-396195 Gujarat, India |
|
Tel. No.: |
91-260-2425858/ 2400031/ 32/ 2400133 |
|
Fax No.: |
91-260-2431749 |
|
|
|
|
Corporate Office : |
Plot No 5202, 3rd Phase, GIDC, Vapi-396195, Gujarat, India |
|
Tel. No.: |
91-260-2400248/ 2400589/ 2430670 |
|
Fax No.: |
91-260-2400995 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Mahendra Hirji Shah |
|
Designation : |
Managing director |
|
Address : |
202, Ashvamedh Sarojini Road, Vile Parle (West), Mumbai-400056, Maharashtra, India |
|
Date of Birth/Age : |
16.05.1959 |
|
Qualification: |
Commerce |
|
Date of Appointment : |
05.11.1993 |
|
PAN No.: |
ACTPS9864K |
|
DIN No.: |
00190008 |
|
|
|
|
Name : |
Mr. Amritlal Khimji Shah |
|
Designation : |
Director |
|
Address : |
Haria, Plot 207 Residential Area Valsad, G.I.D.C., Vapi - 396 195, Gujarat, India |
|
Date of Birth/Age : |
22.11.1944 |
|
Qualification: |
Commerce |
|
Date of Appointment : |
05.11.1993 |
|
PAN No.: |
AAIPS0295H |
|
DIN No.: |
00140411 |
|
PAN No.: |
AAIPS0295H |
|
|
|
|
Name : |
Mr. Ashok Zaverchand Shah |
|
Designation : |
Director |
|
Address : |
Plot No. 313, Opp. Vikas Emporium, Gunjan Area, Vapi I. E. Pardi, Valsad- 396195, Gujarat, India |
|
Date of Birth/Age : |
25.09.1963 |
|
Qualification: |
Commerce |
|
Date of Appointment : |
17.09.2004 |
|
PAN No.: |
AQUPS7179N |
|
DIN No.: |
00146132 |
|
|
|
|
Name : |
Mr. Hirenbhai Vinodrai Prajapati |
|
Designation : |
Director |
|
Address : |
A/201 Landmark Prestige, Opp. Castrol Housing Comlex Gurudev - Phase 2, Silvassa-396230, Dadra and Nagar Haveli [UT], India |
|
Date of Birth/Age : |
15.12.1989 |
|
Qualification: |
Post Graduate/Master/Equivalent |
|
Date of Appointment : |
30.03.2016 |
|
PAN No.: |
BUGPP8802A |
|
DIN No.: |
07444865 |
|
|
|
|
Name : |
Mr. Bharat Gajananrao Dixit |
|
Designation : |
Director |
|
Address : |
A-402, Astha Awas, Triveni Society Balitha, Vapi Near G E B, NH NO.8 Balitha, Vapi, Valsad Pardi, Valsad-396191, Gujarat, India |
|
Date of Appointment : |
30.03.2016 |
|
DIN No.: |
07480363 |
|
|
|
|
Name : |
Mr. Raghvendra Pundalika Mallya |
|
Designation : |
Wholetime Director |
|
Address : |
H-306, Rajmoti-1, Chharwada Road Pardi, Vapi Pardi, Valsad, Vapi-396191, Gujarat, India |
|
Date of Birth/Age : |
07.11.1966 |
|
Date of Appointment : |
30.11.2017 |
|
DIN No.: |
07791713 |
|
|
|
|
Name : |
Mr. Pawan Kumar |
|
Designation : |
Director |
|
Address : |
House No.104,Gali No.08, Azad Nagar, Jagadhri, Yamuna Nagar, Yamunanagar- 135001, Haryana, India |
|
Date of Birth/Age : |
17.05.1967 |
|
Date of Appointment : |
30.11.2017 |
|
DIN No.: |
07957785 |
KEY EXECUTIVES
|
Name : |
Mr. Raghvendra Pundalika Mallya |
|
Designation : |
Chief Financial Officer |
|
Address : |
H-306, Rajmoti-1, Chharwada Road, Pardi, Vapi Pardi, Valsad,
Vapi-396191, Gujarat, India |
|
Date of Appointment : |
12.04.2017 |
|
PAN No.: |
AJHPM6174H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
NOTE: SHAREHOLDING DETAIL FILE ATTACHED
AS ON: 30.11.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
33.10 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
9.35 |
|
Public/Other than promoters - Individual/ Hindu Undivided
Family – Non-resident Indian (NRI) |
17.00 |
|
Public/Other than promoters - Body Corporate |
40.55 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of News Print and Writing Printing Paper. [Registered Activity] |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank of India MID Corporate Branch, Surat, ICC Building ,Opp. Civil Hospital Majura Gate, Ri, Surat-395002, Gujarat, India · Lakshmi Vilas Bank Limited Shop No 8, Kapoor Apartments, Chandavarkar Road, Borilvali
(W), Mumbai-400092, Maharashtra, India |
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Facilities : |
|
|
Financial Institutions : |
· SICOM Limited Nariman Point, Mumbai, Maharashtra, India · Mahindra and Mahindra Financial Services Limited |
|
|
|
|
Auditors : |
|
|
Name : |
V.K Jakharia and Associates Chartered Accountants |
|
Address : |
6/53, Welfare Terrace,Sion (East), Mumbai-400022,
Maharashtra, India |
|
PAN No.: |
AFSPJ4108F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Other Related Party
: |
Shah Paper Mills Limited, India [U21010MH1990PLC057464] |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and their
relatives : |
· Mahavir Packaging · Ratna Paper Convertors · Global Packers · Shah Financial Services Limited, India [U67120MH1996PLC101623] · Enem Marketing Private Limited · Natvar Properties Private Limited · Venkateshvara Texfab Private Limited · Your Home Developers Private Limited · Avion Paper Impex Private Limited · Shah Enterprises · Shah Paper Distributors · SG Industries · Shah Packaging |
CAPITAL STRUCTURE
AFTER: 30.11.2017
Authorised Capital : INR 220.000 Million
Issued, Subscribed & Paid-up Capital : INR 170.000
Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
100000 |
12% Cumulative Redeemable Preference Shares |
INR 100/- each |
INR 10.000 Million |
|
900000 |
10% Non Cumulative Redeemable Preference Shares |
INR 100/- each |
INR 90.000 Million |
|
|
Total |
|
INR 200.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
100000 |
12% Cumulative Redeemable Preference Shares |
INR 100/- each |
INR 10.000 Million |
|
600000 |
10% Non Cumulative Redeemable Preference Shares |
INR 100/- each |
INR 60.000 Million |
|
|
Total |
|
INR 170.000
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 |
170.000 |
170.000 |
170.000 |
|
(b) Reserves and Surplus |
(641.289) |
(553.448) |
203.584 |
|
(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) |
(471.289) |
(383.448) |
373.584 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
247.985 |
540.439 |
595.236 |
|
(b) Deferred tax liabilities (Net) |
84.297 |
84.297 |
84.297 |
|
(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) |
332.282 |
624.736 |
679.533 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
882.530 |
684.711 |
343.604 |
|
(b) Trade
payables |
711.353 |
542.649 |
599.336 |
|
(c) Other
current liabilities |
47.739 |
26.947 |
24.532 |
|
(d) Short-term
provisions |
4.673 |
3.554 |
3.139 |
|
Total Current
Liabilities (4) |
1646.295 |
1257.861 |
970.611 |
|
|
|
|
|
|
TOTAL |
1507.288 |
1499.149 |
2023.728 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
784.278 |
817.159 |
836.280 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
6.642 |
0.000 |
3.586 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.664 |
0.664 |
5.514 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
14.951 |
12.695 |
12.502 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
806.535 |
830.518 |
857.882 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
260.636 |
189.404 |
756.597 |
|
(c) Trade
receivables |
264.843 |
277.303 |
184.091 |
|
(d) Cash and
bank balances |
8.004 |
58.958 |
63.939 |
|
(e)
Short-term loans and advances |
163.593 |
139.157 |
157.279 |
|
(f) Other
current assets |
3.677 |
3.809 |
3.940 |
|
Total
Current Assets |
700.753 |
668.631 |
1165.846 |
|
|
|
|
|
|
TOTAL |
1507.288 |
1499.149 |
2023.728 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2243.589 |
1521.261 |
1302.010 |
|
|
Other Income |
21.705 |
10.599 |
4.112 |
|
|
TOTAL |
2265.294 |
1531.860 |
1306.122 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1489.287 |
934.575 |
743.626 |
|
|
Employee benefit expense |
52.728 |
45.112 |
41.521 |
|
|
Other expenses |
727.713 |
1095.370 |
358.208 |
|
|
Exceptional items |
(0.725) |
(0.725) |
(0.739) |
|
|
TOTAL |
2269.003 |
2074.332 |
1142.616 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(3.709) |
(542.472) |
163.506 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
27.969 |
157.147 |
123.094 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(31.678) |
(699.619) |
40.412 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
55.381 |
56.360 |
45.845 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(87.059) |
(755.979) |
(5.433) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
16.313 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(87.059) |
(755.979) |
(21.746) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export of goods calculated on F.O.B. value |
23.837 |
10.149 |
NA |
|
|
TOTAL EARNINGS |
23.837 |
10.149 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
695.503 |
251.453 |
|
|
|
Components and spare parts |
7.812 |
3.118 |
|
|
|
Plant & Machinery |
1.519 |
3.861 |
|
|
|
Chemicals |
4.711 |
0.000 |
|
|
|
TOTAL IMPORTS |
709.545 |
258.432 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(8.71) |
(75.60) |
(2.17) |
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 |
300.917 |
233.422 |
122.101 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
298.717 |
231.559 |
111.998 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
43.09 |
66.53 |
51.61 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
8.47 |
5.49 |
7.07 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
174.34 |
211.93 |
294.18 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(0.01) |
(2.86) |
0.22 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.00 |
(0.66) |
0.19 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
1.26 |
1.20 |
0.77 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
(2.40) |
(3.20) |
2.51 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
(3.49) |
(3.28) |
2.60 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
(1.68) |
(2.13) |
2.25 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(0.13) |
(3.45) |
1.33 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(3.88) |
(49.69) |
(1.67) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(5.78) |
(50.43) |
(1.07) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
18.47 |
197.15 |
(5.82) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.43 |
0.53 |
1.20 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.27 |
0.38 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
(0.31) |
(0.26) |
0.18 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
6.65 |
7.21 |
5.52 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.43 |
0.53 |
1.20 |
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 |
170.000 |
170.000 |
170.000 |
|
Reserves & Surplus |
203.584 |
(553.448) |
(641.289) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
373.584 |
(383.448) |
(471.289) |
|
|
|
|
|
|
Long-term borrowings |
595.236 |
540.438 |
247.984 |
|
Short term borrowings |
343.604 |
684.711 |
882.530 |
|
Total
borrowings |
938.840 |
1225.149 |
1130.514 |
|
Debt/Equity
ratio |
2.513 |
(3.195) |
(2.399) |
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 |
1302.010 |
1521.261 |
2243.589 |
|
|
|
16.839 |
47.482 |
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 |
1302.010 |
1521.261 |
2243.589 |
|
Profit/ (Loss) |
(21.746) |
(755.979) |
(87.059) |
|
|
(1.67
%) |
(49.69
%) |
(3.88
%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G37473527 |
100081039 |
MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED |
29/12/2016 |
- |
- |
1570000.0 |
GATEWAY BUILDING, APOLLO BUNDER,.MUMBAIMa400001IN |
|
2 |
C41611633 |
10545451 |
LAKSHMI VILAS BANK LIMITED |
05/01/2015 |
- |
- |
150000000.0 |
Shop No 8, Kapoor Apartments, Chandavarkar Road,Borilvali (W)MumbaiMH400092IN |
|
3 |
C59624338 |
90352520 |
State Bank of India |
06/02/1997 |
29/06/2015 |
- |
1090000000.0 |
MID CORPORATE BRANCH, SURAT, ICC Building ,Opp. civil Hospital Majura gate, RiSuratGJ395002IN |
|
4 |
A39629050 |
90365840 |
SICOM LTD.; |
27/03/2006 |
- |
17/06/2008 |
20000000.0 |
NARIMAN POINTMUMBAIMHIN |
|
5 |
A39423702 |
10098258 |
SICOM LIMITED |
01/04/2008 |
- |
13/06/2008 |
40000000.0 |
NIRMAL, 1ST FLOOR,NARIMAN POINTMUMBAIMH400021IN |
|
6 |
A20288023 |
80034630 |
Industrial Development Bank of India |
21/12/1999 |
- |
02/08/2007 |
85800000.0 |
Opp.Municipal Corp. Qtrs.Off.C.G.Road,AhmedabadGJ380006IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
133.146 |
140.112 |
|
Loans and advances from directors |
13.621 |
14.142 |
|
Other loans and advances |
30.410 |
86.168 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
32.137 |
0.000 |
|
Other loans and advances |
2.500 |
23.047 |
|
|
|
|
|
Total |
211.814 |
263.469 |
STATE OF THE COMPANYS AFFAIR
During the financial year, the Company produced 44,350 MT of paper and has sold 45,100 MT with realisation of sales of INR 2140.000 Million as against production of 34,672 MT and sale of 34,486 MT with sales realization of INR 1490.000 Million in the previous year. The exports during the current year are at INR 23.800 Million as against INR 10.100 Million last year.
It can be vouched that the Company has not only continued its activities of manufacturing news print and writing printing paper but also enhanced the production as well as sales realisation during the year under consideration. This was despite the challenging situation arising due to external and uncontrolled market situation and financial constraints.
All and efforts are made to procure support of all concerned and involved parties viz. the suppliers of goods and services, employees, financial institutions and authorities, to revive the companys affairs as a viable unit. The initiatives and efforts of the Company are likely to secure survival and pervasive benefits for all those connected with the operations of the Company.
Presently the Company is regular in contributing its due share of indirect taxes to the Government, it is providing employment to 350 individuals, supporting 550 suppliers of goods and services which include SSI and SMCs, catering to 275 customers and also making efforts to protect the maximum interest of the financial institutions and the banks. The company is committed to reciprocate the encouragement provided by these parties in the past two decades when the Company has been fortunate in receiving their support to scale its set-up to an honourable success.
With the untiring efforts of the management, the Company currently operates at a scale to minimise overheads and control costs. Initiatives have been further taken to save the power costs and recoup the margins and conduct the business making it economically more viable. Bankers have been approached for one time settlement of the dues to manage the operations and regain the original successful status of the business.
The market for the products of the Company is predicted to move in favour with rising demand for local product in competition with the imported paper.
With due support of the present team assisting the marketing, procurement and production of the Company, the management is optimistic in regaining the financial strength with similar positive approach and response from the suppliers and bankers of the Company. With consistent efforts and realisation of results, the Company looks forward to conduct the affairs and manage the operations satisfactorily.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 68.26 |
|
UK Pound |
1 |
INR 91.22 |
|
Euro |
1 |
INR 79.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
IND |
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.