MIRA INFORM REPORT

 

 

Report No. :

510621

Report Date :

29.05.2018

 

 

IDENTIFICATION DETAILS

 

Name :

ADWAITH LAKSHMI INDUSTRIES LIMITED (w.e.f. 09.10.2006)

 

 

Formerly Known As :

ADWAITH STEELS LIMITED

 

 

Registered Office :

"Adwaitham" 114A, Senthotam, Sowripalayam (PO) Coimbatore - 641028  Tamilnadu

Tel. No.:

91-422-2319841, 2319861

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

18.11.1991

 

 

Com. Reg. No.:

18-003510

 

 

Capital Investment / Paid-up Capital :

INR 6.250 Million

 

 

CIN No.:

[Company Identification No.]

U27109TZ1991PLC003510

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

AABCA8143J

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Divulged

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

The company operates on two segments which are the company primary segments as follows

·         Engineering Division

·         Textiles Division

 

The company is an engineering industry and manufacturing Bright Bar, Nose Bar Bobbin Holders and Textile Articles (Registered Activity)

 

Manufacture Reeling Machines and all other machineries and allied products required for textile mills and industry. (As per Memorandum of Association)

 

 

No. of Employees :

Not Divulged

 

 

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

 

Maximum Credit Limit :

USD 462000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1991 and it having satisfactory track records.


For the financial year 2017, the company has achieved decent revenue from its operations but reported losses.


However, rating takes into consideration sound financial profile of the company marked by healthy networth base and average debt balance sheet.


Further, rating also derives strength from established track records of business operations and market position.


Trade relations are fair. Payment terms are seems to be slow but correct.


In view of aforesaid, the company can be considered for normal 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

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 29.05.2018

 

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 (Tel No.: 91-422-2319841)

 

LOCATIONS

 

Registered Office/ Central Office :

"Adwaitham" 114A, Senthotam, Sowripalayam (PO) Coimbatore – 641028,  Tamilnadu, India

Tel. No.:

91-422-2319841, 2319861

Fax No.:

91-422-2317005 

E-Mail :

adwaitham@adwaithlakshmi.in

Website :

www.adwaithlakshmi.in

 

 

Factory :

Sangothipalayam, Kaniyur Post Karumathampatti (via), Coimbatore - 641 659, Tamilnadu, India

Tel. No.:

91-421-2332556, 2334644

Fax No.:

91-421-2333296

E-Mail :

info@adwaithlakshmi.in

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Ravi Sam

Designation :

Managing Director

Address :

89/190 Venkatasamy Road, R S Puram, Coimbatore-641002, Tamilnadu, India 

Date of Birth/Age :

31.03.1956

Date of Appointment :

18.11.1991

DIN No.:

00007465

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U27310TZ1992PLC003812

INTEGRATED ELECTRICAL CONTROLS INDIA LIMITED

29/04/1993

-

L17111TZ1981PLC001109

SUPER SALES INDIA LIMITED

30/06/1989

-

U17111TZ1956PLC000203

ADWAITH TEXTILES LIMITED

12/06/1974

-

U24222TZ1945PLC000222

TITAN PAINTS AND CHEMICALS LIMITED

29/01/1987

-

U51397TZ1991PLC003477

ESHAAN ENTERPRISES LIMITED

23/10/1991

-

U17111TZ1974PLC000712

LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED

26/05/2004

-

U17111TZ1979PTC000894

SRI KAMAKOTI KAMAKSHI ENTERPRISES PRIVATE LIMITED

23/01/2002

-

U17301TZ2001PLC009933

ADWAITH LAKSHMI CONSTRUCTIONS LIMITED

18/10/2001

-

U01132TN2011PLC079800

PARRY AGRO INDUSTRIES LIMITED

27/07/2012

-

U24222TZ2006PLC012639

LAKSHMI ECO RESINS INDIA LIMITED

09/03/2006

-

U28112TZ2006PLC012935

SHRI KARA ENGINEERING LIMITED

17/07/2006

-

U17111TZ2006PLC013009

ADWAITH LAKSHMI KNITS AND WOVENS LIMITED

18/08/2006

-

U17111TZ2007PLC013789

LAKSHMI CAIPO INDUSTRIES LIMITED

12/06/2007

-

 

 

Name :

Mr. Mohan Nambiar

Designation :

Director

Address :

737A Puliakulam Road, Coimbatore-641043, Tamilnadu, India

Date of Birth/Age :

11.04.1949

Date of Appointment :

23.03.2005

DIN No.:

00003660

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U40108TZ1933PLC000139

THE PALANI ANDAVAR MILLS LIMITED

10/06/1986

-

L29120TZ1960PLC000351

ELGI EQUIPMENTS LIMITED

16/02/1983

-

 

 

Name :

Ms. Uttara Ravi

Designation :

Director

Address :

89/190, Venkatasamy Road, R S Puram, Coimbatore 641002, Tamilnadu, India 

Date of Birth/Age :

15.03.1966

Date of Appointment :

30.09.1998

DIN No.:

00007486

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U52599TN1991PLC021857

LAKSHMI CARGO COMPANY LIMITED

13/12/1991

-

U51909TZ2004PTC011211

VENKATAVARADHAA AGENCIES PRIVATE LIMITED

28/06/2004

-

U17111TZ1956PLC000203

ADWAITH TEXTILES LIMITED

18/11/1998

-

U24222TZ1945PLC000222

TITAN PAINTS AND CHEMICALS LIMITED

26/02/1999

-

U55101TZ1990PTC002853

WALZER HOTELS AND RESORTS PRIVATE LIMITED

07/02/2001

-

U51397TZ1991PLC003477

ESHAAN ENTERPRISES LIMITED

31/08/2012

-

U17111TZ1974PLC000712

LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED

06/06/1988

-

U63040TZ1981PLC007191

STARLINE TRAVELS LIMITED

14/07/1992

-

U29191TZ1980PTC000905

MAHALAKSHMI ENGINEERING HOLDINGS PRIVATE LIMITED

18/11/1995

-

U17111TZ1979PTC000894

SRI KAMAKOTI KAMAKSHI ENTERPRISES PRIVATE LIMITED

23/02/2002

-

U17111TZ2000PLC009487

SUN SPINTEX INDIA LIMITED

15/09/2000

-

U29100TZ2012PLC018665

LAKSHMI ENERGY AND ENVIRONMENT DESIGNS LIMITED

22/08/2012

-

U24222TZ2006PLC012639

LAKSHMI ECO RESINS INDIA LIMITED

09/03/2006

-

U17111TZ2006PLC013009

ADWAITH LAKSHMI KNITS AND WOVENS LIMITED

18/08/2006

-

U17111TZ2007PLC013789

LAKSHMI CAIPO INDUSTRIES LIMITED

12/06/2007

-

 

 

Name :

Mr. Sudesh Koti Reddy

Designation :

Director

Address :

48, Race Course Road, Coimbatore-641018, Tamilnadu, India 

Date of Birth/Age :

29.08.1962

Date of Appointment :

14.06.2000

DIN No.:

00007530

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74210TZ1988PTC002139

SUCHARITA PRECISION GEARS PRIVATE LIMITED

28/03/1988

-

U24222TZ2006PLC012639

LAKSHMI ECO RESINS INDIA LIMITED

09/03/2006

-

U28112TZ2006PLC012935

SHRI KARA ENGINEERING LIMITED

17/07/2006

-

U17111TZ2007PLC013789

LAKSHMI CAIPO INDUSTRIES LIMITED

12/06/2007

-

 

 

Name :

Mr. Ramakrishnan Nagaraj

Designation :

Director

Address :

No.8, Maniakarathottam Peelamedu Pudur, Coimbatore-641004, Tamilnadu, India 

Date of Birth/Age :

02.11.1952

Date of Appointment :

19.08.2005

DIN No.:

00009261

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U51909TZ2004PTC011211

VENKATAVARADHAA AGENCIES PRIVATE LIMITED

28/06/2004

-

U00292TZ2005PLC011689

RAMAKRISHNA COMPONENTS MANUFACTURING LIMITED

30/03/2005

-

U17111TZ1956PLC000203

ADWAITH TEXTILES LIMITED

25/08/2014

-

U24222TZ1945PLC000222

TITAN PAINTS AND CHEMICALS LIMITED

01/08/2008

-

U17111TZ1974PLC000712

LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED

19/01/2018

-

U17111TZ2000PLC009487

SUN SPINTEX INDIA LIMITED

26/09/2001

-

U24220TZ2008PLC014436

TITAN HMG PAINTS INDIA LIMITED

30/04/2008

-

U28112TZ2006PLC012935

SHRI KARA ENGINEERING LIMITED

17/07/2006

-

U17111TZ2006PLC013009

ADWAITH LAKSHMI KNITS AND WOVENS LIMITED

18/08/2006

-

 

 

Name :

Mr. Tara Sam Venu

Designation :

Director

Address :

89/190, Venkatasamy Road R S Puram, Coimbatore 641002, Tamilnadu, India  

Date of Birth/Age :

29.11.1987

Date of Appointment :

03.07.2006

DIN No.:

00412005

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U17111TZ1974PLC000712

LAKSHMI RING TRAVELLERS (COIMBATORE) LIMITED

03/12/2012

-

 

 

 

 

 

 

MAJOR SHAREHOLDERS

 

As on 31.03.2017

 

Names of Shareholders

 

No. of Shares

Ravi Sam

 

74093

Uttara Ravi

 

3250

Mahalakshmi Engineering Holdings Private Limited, India

 

300000

Tara Sam Venu

 

12500

Arya Sam

 

12500

Sujani Balu

 

126

R. Nagraj

 

125

M. Mohan Nambiar

 

126

Uttara Ravi for and on behalf of Adwaith Annapoorneswari Trust

 

222280

Equity Share Break up (Percentage of Total Equity)

 

As on 10.08.2017

 

Category

Percentage

Promoters (Individual/Hindu Undivided Family – Indian)

16.38

Promoters (Body corporate)

48.00

Promoters (Others- Trust)

35.56

Public/Other than promoters (Individual/Hindu Undivided Family – Indian)

0.06

Total 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

The company operates on two segments which are the company primary segments as follows

·         Engineering Division

·         Textiles Division

 

The company is an engineering industry and manufacturing Bright Bar, Nose Bar Bobbin Holders and Textile Articles (Registered Activity)

 

Manufacture Reeling Machines and all other machineries and allied products required for textile mills and industry. (As per Memorandum of Association)

 

 

Products / Services :

Item Code No.

Products/Services Description

58021950

Terry Towel and Terry Products

72149190

Bright bar, Greel support Rod and Nose Bar

48221000

Bobbin Holders

40169910

Cots and spares

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Banker Name :

Indian Bank

Branch :

Coimbatore Main Branch31, Variety Hall Road, Coimbatore-641407, Tamilnadu, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Term Loan - Foreign Currency Loan

24.801

40.542

Term Loan - Vehicle ( car Loan)

12.328

13.104

Short-term borrowings

 

 

Loan Repayable on Demand from Bank-SOD A/c

121.582

87.315

Loan Against Fixed Deposits

19.532

19.704

Foreign Currency Packing Credit

58.803

8.750

Total

237.046

169.415

 

Auditors :

 

Name :

G. Ramaswamy and Company

Chartered Accountants

Address :

Ground Chambers, 66, Lokamanya Street (West), R.S.Puram, Coimbatore- 641002, Tamilnadu, India

Income-tax PAN of auditor or auditor's firm :

AACFG4855B

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary :

Shri Kara Engineering Limited

CIN No.: U28112TZ2006PLC012935

 

 

Other Related Parties :
  • Adwaith Textiles Limited
  • Lakshmi Ring Travellers (Coimbatore) Limited
  • Lakshmi Energy and Environment Designs Limited
  • Lakshmi cargo Company Limited - Cbe
  • Lakshmi Machine Works Limited
  • LMW Textile Machinery (SUZHOU) Co Limited
  • Lakshmi Life Science Limited
  • Lakshmi Precision Tools Limited
  • LMW Pilot Mill
  • Jay Textiles
  • Quattro Engineering India Limited
  • Ramakrishna Components Manufacturing Limited
  • Sri Kamakoti Kamatchi Enterprises (P) Limited
  • South Indian Art and Heritage Trust
  • Sri Jagathguru Jayendra Saraswathi Trust
  • Super sales India Limited
  • Starline Travels Limited
  • The Lakshmi Mills Limited
  • Titan Paints and Chemicals Limited
  • Venkatavaradha Agencies Limited

 

 

CAPITAL STRUCTURE

 

As on 10.08.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

750000

Equity Shares

INR 10/- each

INR 7.500 Million

1000000

Preference Shares

INR 10/- each

INR 10.000 Million

 

Total

 

INR 17.500 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

625000

Equity Shares

INR 10/- each

INR 6.250 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

6.250

6.250

6.250

(b) Reserves & Surplus

155.448

162.210

124.413

(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)

161.698

168.460

130.663

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

37.129

53.646

0.000

(b) Deferred tax liabilities (Net)

16.843

17.159

14.964

(c) Other long term liabilities

2.143

1.614

140.465

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

56.115

72.419

155.429

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

199.917

115.769

79.581

(b) Trade payables

76.288

71.560

74.520

(c) Other current liabilities

58.915

47.641

25.648

(d) Short-term provisions

(1.169)

19.260

33.301

Total Current Liabilities (4)

333.951

254.230

213.050

 

 

 

 

TOTAL

551.764

495.109

499.142

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

154.267

145.676

186.068

(ii) Intangible Assets

0.173

0.381

0.603

(iii) Capital work-in-progress

0.028

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

6.673

6.099

4.230

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

29.216

8.086

12.655

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

190.357

160.242

203.556

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

118.871

95.179

84.912

(c) Trade receivables

168.322

154.512

159.043

(d) Cash and cash equivalents

40.570

49.550

23.896

(e) Short-term loans and advances

24.576

27.882

23.268

(f) Other current assets

9.068

7.744

4.467

Total Current Assets

361.407

334.867

295.586

 

 

 

 

TOTAL

551.764

495.109

499.142

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

711.693

711.615

620.969

 

Other Income

12.957

16.789

8.886

 

TOTAL

724.650

728.404

629.855

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

354.154

366.953

343.307

 

Purchases of Stock-in-Trade

57.468

7.328

1.864

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(22.475)

(7.044)

(9.656)

 

Employees benefits expense

99.887

95.463

70.071

 

Other expenses

197.203

184.935

150.566

 

Profit on Sale of Asset

0.000

0.000

(0.285)

 

Profit on Sale of Investment in Shares

(0.428)

(18.754)

(28.553)

 

Transitional Depreciation

0.000

0.000

0.664

 

TOTAL

685.809

628.881

527.978

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

38.841

99.523

101.877

 

 

 

 

 

Less

FINANCIAL EXPENSES

20.423

14.890

10.070

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

18.418

84.633

91.807

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

24.648

23.076

35.017

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(6.230)

61.557

56.790

 

 

 

 

 

Less

TAX

0.532

18.117

17.715

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(6.762)

43.440

39.075

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

(10.82)

69.5

62.52

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

17.971

17.971

0.000

Cash generated from operations

(26.707)

(84.927)

31.663

Net Cash from Operating Activities

(26.707)

(84.927)

31.663

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

86.33

79.25

93.48

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

4.23

4.61

3.90

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

67.65

69.79

78.80

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.33

1.05

1.20

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.25

0.68

0.55

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.71

0.66

0.43

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.58

1.11

0.61

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

2.07

1.51

1.63

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.96

0.87

1.43

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.90

6.68

10.12

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

(0.95)

6.10

6.29

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

(1.23)

8.77

7.83

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

(4.18)

25.79

29.91

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.08

1.32

1.39

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.73

0.94

0.99

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.29

0.34

0.26

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

40.80

29.98

12.73

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.08

1.32

1.39

 

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

6.250

6.250

6.250

Reserves & Surplus

124.413

162.210

155.448

Net worth

130.663

168.460

161.698

 

 

 

 

long-term borrowings

0.000

53.646

37.129

Short term borrowings

79.581

115.769

199.917

Current maturities of long-term debts

0.000

17.971

17.971

Total borrowings

79.581

187.386

255.017

Debt/Equity ratio

0.609

1.112

1.577

 

 

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

620.969

711.615

711.693

 

 

14.598

0.011

 

 

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

620.969

711.615

711.693

Profit

39.075

43.440

-6.762

 

6.29%

6.10%

-0.95%

 

 

 

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

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

 

S

No

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Amount

Address

1

C81157166

10624629

INDIAN BANK

08/01/2016

-

16600000.0

Coimbatore Main Branch31, Variety Hall Road Coimbatore Tamilnadu 641407 India

2

G76907583

90001992

INDIAN BANK

12/09/2005

27/12/2017

324100000.0

Coimbatore Main Branch31, Variety Hall Road Coimbatore Tamilnadu 641407 India

 

 

FIXED ASSETS

 

  • Land
  • Building
  • Furniture and Fixture
  • Computer
  • Plant and Machinery

 

 

 

 

 

 

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 :

SHT

 

 

Analysis Done by :

PRA

 

 

Report Prepared by :

JYTK

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.