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|
|
MIRA INFORM REPORT
|
Report No. : |
512532 |
|
Report Date : |
31.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
CHIRIPAL POLY FILMS LIMITED |
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|
|
|
Registered
Office : |
109/110, Peninsula Centre, Dr. S.S. Rao Road, Parel, Mumbai – 400012,
Maharashtra |
|
Mobile No.: |
91-9820606685 (Mr. Rajesh Pillai) 91-9727768078 (Mr. Pratik Shah
) |
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|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
31.08.2009 |
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|
|
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Com. Reg. No.: |
11-195352 |
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Capital
Investment / Paid-up Capital : |
INR 122.476 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120MH2009PLC195352 |
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|
|
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IEC No.: [Import-Export
Code No.] |
0810007266 |
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GSTN : [Goods & Service Tax Registration
No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AADCC7403M |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing, exporting, importing and sales of Bi-axially oriented Polypropylene (BOPP) films and Bi-axially oriented Polyethylene Teraphthalate (BOPET) films. (Registered activity and also confirmed by management) |
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|
|
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No. of Employees
: |
200 (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 17000000 |
|
|
|
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Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in 2009 and is part of the Ahmedabad-based Chiripal group, which has a presence in industries such as textiles, education, real estate, packaging, and chemicals. The company is a manufacturer and sales of Bi-axially oriented Polypropylene (BOPP) films and Bi-axially oriented Polyethylene Teraphthalate (BOPET) films. For the financial year ended 2017, the company has achieved 18.47% growth in its revenue as compared to previous year revenue and has reported an average profitability margin of 3.52% during the year under a review. The company possesses strong financial position marked by its sound net worth base along with average debt coverage indicators and comfortable liquidity parameters. Rating takes into consideration the company’s favourable Earnings Per Share (EPS) of INR 34.78 as against its Face Value (FV) of INR 10. Rating also takes into consideration the equity infused by its promoters. However, rating strength is partially offset by vulnerability of profit margins to any adverse fluctuations in polymer prices marked by highly capital intensive nature of the operations and high competitive pressures in the flexible packaging industry result in modest return indicators for the company. Business is active. Payments are reported to be regular and as per commitment. In view of aforesaid, the company can be considered good 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 |
ICRA |
|
Rating |
Long term loans: A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
27.11.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term loans: A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
27.11.2017 |
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 31.05.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Rajesh Pillai |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-9820606685 |
|
Date : |
30.05.2018 |
LOCATIONS
|
Registered Office/ Branch Office : |
109/110,
Peninsula Centre, Dr. S.S. Rao Road, Parel, Mumbai – 400012, Maharashtra,
India |
|
Tel. No.: |
91-22-66604123 |
|
Mobile No.: |
91-9820606685 (Mr. Rajesh Pillai) 91-9727768078 (Mr. Pratik Shah
) |
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Fax No.: |
91-22-66604123 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
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Locality: |
Commercial |
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|
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Corporate Office: |
3rd Floor, Chiripal House, Shivranjani Cross Roads,
Satellite, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-26473302 |
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Fax No.: |
91-79-26768656 |
|
|
|
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Factory : |
Plot No.12, 13, 14, Vraj Integrated Textile Park, N.H. No.8, Kheda,
Ahmedabad – Baroda Highway, Village Bidaj, Taluka and District Kheda –
397420, Gujarat, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Jaiprakash Devkinandan Chiripal |
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Designation : |
Managing Director |
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Address : |
10, Nandi Hill Society, Satellite Road, Ahmedabad - 380
013, Gujarat, India |
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Date of Birth/Age : |
02.11.1959 |
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Date of Appointment : |
01.10.2014 |
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PAN No.: |
AAJPA4564C |
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DIN No.: |
00155430 |
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Other
directorship:
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Name : |
Mr. Neeraj Kakkar |
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Designation : |
Whole-Time Director |
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Address : |
304, Block E, 46/2/48, 563/2, Karnavati Apartment, II Opposite Rudra Estate, Near Shri Ram Residency, Narol Lambha HW, Ahmedabad-382405, Gujarat, India |
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Date of Birth/Age : |
14.09.1955 |
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Date of Appointment : |
01.10.2014 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
06562223 |
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Name : |
Mr. Jyotiprasad Devkinandan Chiripal |
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Designation : |
Director |
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Address : |
91, Basant Bahar Bunglow, Bopal, Ahmedabad – 380058, Gujarat, India |
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Date of Birth/Age : |
21.08.1953 |
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Date of Appointment : |
02.09.2015 |
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PAN No.: |
AAJPA4565D |
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DIN No.: |
00155695 |
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Other
directorship:
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Name : |
Mr. Vedprakash Devkinandan Chiripal |
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Designation : |
Director |
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Address : |
11, Nandi Hill Society, Satellite Road, Ahmedabad - 380013, Gujarat,
India |
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Date of Birth/Age : |
21.11.1951 |
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Date of Appointment : |
31.08.2009 |
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PAN No.: |
AAHPC2102Q |
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DIN No.: |
00290454 |
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Other
directorship:
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Name : |
Mr. Hemendrakumar Chamanlal Shah |
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Designation : |
Director |
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Address : |
F/701, Tulip Citadel, Opposite ESIC Staff Quarters, Shreyas Tekra, Ambawadi,
Ahmedabad - 380015, Gujarat, India |
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Date of Appointment : |
02.09.2015 |
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DIN No.: |
00077654 |
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Other
directorship:
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|
Name : |
Mr. Renuka Anjanikumar Upadhyay |
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Designation : |
Director |
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Address : |
A-504, Safal Parisar -2, Bopal, Ahmedabad - 380058, Gujarat, India |
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Date of Appointment : |
02.09.2015 |
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DIN No.: |
07148637 |
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Other
directorship:
|
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KEY EXECUTIVES
|
Name : |
Ms. Priyanka Nikhilbhai Padhya |
|
Designation : |
Company Secretary |
|
Address : |
44, Rangsujlam Society, Ankur Road, Naranpura Ahmedabad-380013, Gujarat, India |
|
Date of Birth/Age : |
25.01.1992 |
|
Qualification: |
B.COM, CS,LL.B |
|
Date of Appointment : |
01.04.2017 |
|
DIN No.: |
CGOPP3758E |
|
|
|
|
Name : |
Mr. Partha Sarathi Mishra |
|
Designation : |
Chief Finance Officer |
|
Address : |
302, Sagar Apartments, Plot No-5 Gorai-1, Borivili (East), Mumbai 400092, Maharashtra, India |
|
Date of Appointment : |
28.09.2017 |
|
DIN No.: |
AGMPM1622N |
|
|
|
|
Name : |
Mr. Rajesh Pillai |
|
Designation : |
Finance Executive |
|
|
|
MAJOR SHAREHOLDERS
AS ON 31.03.2017
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
50.56 |
|
Promoters- Body corporate |
3.18 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
1.07 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Non-resident Indian (NRI) |
1.82 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Foreign national (other than NRI) |
32.65 |
|
Public/Other than promoters - Body corporate |
10.72 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged in the business of manufacturing, exporting, importing and sales of Bi-axially oriented Polypropylene (BOPP) films and Bi-axially oriented Polyethylene Teraphthalate (BOPET) films. (Registered activity and also confirmed by management) |
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Products / Services
: |
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||||
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||||
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw material |
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Countries : |
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Terms : |
|
||||
|
Selling : |
L/C, Advance Payment, Cheque and Others (NEFT / RTGS) |
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|
||||
|
Purchasing : |
L/C, Advance Payment, Cheque and Others (NEFT / RTGS) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Manufacturer
|
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No. of Employees
: |
200 (Approximately) |
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Bankers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
C.N. Somani and Associates Chartered Accountants |
|
Address : |
91, Hirabhai Market, Diwan Ballubhai Road, Ahmedabad-380022, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AMYPS6567L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
Wholly Owned
Subsidiary Company: |
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|
|
|
|
Enterprise over
which key management personnel exercise significant influence: |
|
|
|
|
|
Enterprise over which relative of key
management personnel exercise significant Influence: |
|
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13895929 |
Equity Shares |
INR 10/- each |
INR 138.959 Million |
|
|
|
|
|
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12247578 |
Equity Shares |
INR 10/- each |
INR 122.476 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
122.476 |
114.116 |
95.733 |
|
(b) Reserves and Surplus |
4798.975 |
3716.977 |
1875.359 |
|
(c) Money
received against share warrants |
1004.262 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
254.607 |
|
Total
Shareholders’ Funds (1) + (2) |
5925.713 |
3831.093 |
2225.699 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5849.406 |
4725.178 |
3065.292 |
|
(b) Deferred tax liabilities (Net) |
209.473 |
184.410 |
143.856 |
|
(c) Other long-term
liabilities |
87.565 |
26.267 |
16.516 |
|
(d) long-term
provisions |
7.301 |
5.213 |
3.167 |
|
Total Non-current
Liabilities (3) |
6153.745 |
4941.068 |
3228.831 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1150.561 |
1294.224 |
1006.149 |
|
(b) Trade
payables |
1654.979 |
896.714 |
782.715 |
|
(c) Other
current liabilities |
775.647 |
552.339 |
455.772 |
|
(d) Short-term
provisions |
6.201 |
3.859 |
2.161 |
|
Total Current
Liabilities (4) |
3587.388 |
2747.136 |
2246.797 |
|
|
|
|
|
|
TOTAL |
15666.846 |
11519.297 |
7701.327 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
9788.955 |
7323.220 |
4095.705 |
|
(ii)
Intangible Assets |
79.055 |
79.694 |
66.090 |
|
(iii) Tangible assets
capital work-in-progress |
285.989 |
244.397 |
519.464 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
28.034 |
16.201 |
6.524 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
389.445 |
273.372 |
183.522 |
|
(e) Other
Non-current assets |
1.377 |
3.406 |
2.859 |
|
Total Non-Current Assets |
10572.855 |
7940.290 |
4874.164 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
857.895 |
569.159 |
380.135 |
|
(c) Trade
receivables |
3328.433 |
2057.772 |
1854.710 |
|
(d) Cash and
bank balances |
208.284 |
286.207 |
218.754 |
|
(e)
Short-term loans and advances |
694.220 |
661.124 |
367.445 |
|
(f) Other
current assets |
5.159 |
4.745 |
6.119 |
|
Total
Current Assets |
5093.991 |
3579.007 |
2827.163 |
|
|
|
|
|
|
TOTAL |
15666.846 |
11519.297 |
7701.327 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
12035.869 |
10159.500 |
8502.551 |
|
|
Other Income |
30.584 |
15.069 |
24.271 |
|
|
TOTAL |
12066.453 |
10174.569 |
8526.822 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
9547.447 |
7919.576 |
6810.734 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(229.497) |
(8.028) |
84.046 |
|
|
Employee benefit expense |
250.691 |
170.161 |
120.562 |
|
|
Other expenses |
1208.723 |
896.486 |
0.000 |
|
|
TOTAL |
10777.364 |
8978.195 |
7594.722 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
1289.089 |
1196.374 |
932.100 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
509.010 |
426.069 |
353.466 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
780.079 |
770.305 |
578.634 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
331.805 |
246.377 |
206.937 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
448.274 |
523.928 |
371.697 |
|
|
|
|
|
|
|
Less |
TAX |
25.063 |
40.555 |
(4.614) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
423.211 |
483.373 |
376.311 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
34.78 |
45.45 |
39.79 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
661.678 |
475.283 |
375.431 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
771.344 |
655.643 |
559.610 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
655.270 |
565.794 |
437.573 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
100.94 |
73.93 |
79.62 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.62 |
4.94 |
4.58 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
63.27 |
41.33 |
41.95 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.50 |
2.10 |
2.45 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.13 |
0.16 |
0.20 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.64 |
0.69 |
0.74 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.29 |
1.70 |
2.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.61 |
0.72 |
1.01 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.71 |
2.00 |
2.10 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.53 |
2.81 |
2.64 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.52 |
4.76 |
4.43 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.70 |
4.20 |
4.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
7.14 |
12.62 |
16.91 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.42 |
1.30 |
1.26 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.18 |
1.10 |
1.09 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.38 |
0.33 |
0.29 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
62.56 |
56.91 |
46.45 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.42 |
1.30 |
1.26 |
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 |
95.733 |
114.116 |
122.476 |
|
Reserves & Surplus |
1875.359 |
3716.977 |
4798.975 |
|
Money received against share
warrants |
0.000 |
0.000 |
1004.262 |
|
Share Application money
pending allotment |
254.607 |
0.000 |
0.000 |
|
Net
worth |
2225.699 |
3831.093 |
5925.713 |
|
|
|
|
|
|
Long-term borrowings |
3065.292 |
4725.178 |
5849.406 |
|
Short term borrowings |
1006.149 |
1294.224 |
1150.561 |
|
Current maturities of
long-term debts |
375.431 |
475.283 |
661.678 |
|
Total
borrowings |
4446.872 |
6494.685 |
7661.645 |
|
Debt/Equity
ratio |
1.998 |
1.695 |
1.293 |
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 |
8502.551 |
10159.500 |
12035.869 |
|
|
|
19.488 |
18.469 |
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 |
8502.551 |
10159.500 |
12035.869 |
|
Profit/ (Loss) |
376.311 |
483.373 |
423.211 |
|
|
4.43
% |
4.76
% |
3.52
% |
BALANCE
SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
122.476 |
114.116 |
|
(b) Reserves and Surplus |
|
4949.333 |
3844.081 |
|
(c) Money
received against share warrants |
|
1004.262 |
0.000 |
|
(d) Minority interest |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
6076.071 |
3958.197 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
5849.406 |
4725.178 |
|
(b) Deferred tax liabilities (Net) |
|
209.473 |
184.410 |
|
(c) Other long-term
liabilities |
|
87.564 |
26.267 |
|
(d) long-term
provisions |
|
7.301 |
5.213 |
|
Total Non-current
Liabilities (3) |
|
6153.744 |
4941.068 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
1150.561 |
1294.224 |
|
(b) Trade
payables |
|
2209.631 |
1435.976 |
|
(c) Other
current liabilities |
|
789.716 |
569.626 |
|
(d) Short-term
provisions |
|
6.201 |
3.859 |
|
Total Current
Liabilities (4) |
|
4156.109 |
3303.685 |
|
|
|
|
|
|
TOTAL |
|
16385.924 |
12202.950 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
9790.667 |
7325.414 |
|
(ii)
Intangible Assets |
|
79.055 |
79.694 |
|
(iii) Tangible assets
capital work-in-progress |
|
285.989 |
244.397 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
50.344 |
38.510 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
390.865 |
274.792 |
|
(e) Other
Non-current assets |
|
1.377 |
3.406 |
|
Total Non-Current
Assets |
|
10598.297 |
7966.213 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
857.895 |
569.160 |
|
(c) Trade receivables |
|
3916.614 |
2652.658 |
|
(d) Cash and
bank balances |
|
253.287 |
290.066 |
|
(e)
Short-term loans and advances |
|
667.905 |
634.809 |
|
(f) Other
current assets |
|
91.926 |
90.044 |
|
Total
Current Assets |
|
5787.627 |
4236.737 |
|
|
|
|
|
|
TOTAL |
|
16385.924 |
12202.950 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
13754.621 |
12191.782 |
|
|
Other Income |
|
14.714 |
9.822 |
|
|
TOTAL |
|
13769.335 |
12201.604 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
11199.739 |
9950.866 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(229.497) |
(8.028) |
|
|
Employee benefit expense |
|
257.238 |
197.553 |
|
|
Other expenses |
|
1222.754 |
828.644 |
|
|
TOTAL |
|
12450.234 |
10969.035 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
1319.101 |
1232.569 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
515.722 |
429.143 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
803.379 |
803.426 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
331.805 |
246.925 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
471.574 |
556.501 |
|
|
|
|
|
|
|
Less |
TAX |
|
25.062 |
40.555 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
446.512 |
515.946 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
36.70 |
48.51 |
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 |
Yes |
|
32 |
Litigations that the firm/promoter involved
in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL INFORMATION
Subject is a public company
incorporated under provisions of Companies Act, 1956. The Company has a
manufacturing plant in Bidaj, Gujarat and is primarily engaged in the business
of manufacturing and sales of Bi-axially oriented Polypropylene (BOPP) films
and Bi-axially oriented Polyethylene Teraphthalate (BOPET) films. The Company
sells the products across globe. The Equity shares of the company are not
listed on the stock exchange.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM
BORROWING |
|
|
|
Deposits |
262.854 |
262.854 |
|
Total |
262.854 |
262.854 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G86624491 |
100174578 |
BAYERISCHE
LANDESBANK |
30/03/2018 |
- |
1956259874.29 |
BRIENNERSTR.
1880333 MUNICHMUNICHNA80333DE |
|
2 |
G45425253 |
100101626 |
PNB INVESTMENT
SERVICES LIMITED |
25/05/2017 |
- |
600000000.0 |
C/O PUNJAB NATIONAL
BANK,CIRCLE OFFICE ,6TH FLOORGUJARAT BHAVAN, NR M J LIBRARY, ASHRAM
ROADAHMEDABADGJ380009IN |
|
3 |
G07987464 |
100040268 |
INDUSTRIAL AND
COMMERCIAL BANK OF CHINA LIMITED |
25/07/2016 |
- |
1011960147.0 |
FLOOR 8, A WING ONE
BKC PLOT C 66G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMH400051IN |
|
4 |
G01934488 |
100021377 |
UNITED BANK OF
INDIA |
30/03/2016 |
- |
1000000000.0 |
AHMEDABAD BRANCH
UBI BUILDINGLAL DARAWAJA AHMEDABADAHMEDABADGJ380001IN |
|
5 |
G01934926 |
100021380 |
UNITED BANK OF
INDIA |
30/03/2016 |
- |
1000000000.0 |
AHMEDABAD BRANCH
UBI BUILDINGLAL DARWAJA, AHMEDABADAHMEDABADGJ380001IN |
|
6 |
G03206703 |
100025653 |
AKA
AUSFUHRKREDIT-GESELLSCHAFT MBH |
30/03/2016 |
- |
1364475922.0 |
GROSSE GALLUSSTRASSE
1 - 760311 FRANKFURT (MAIN)FRANKFURTNA60311DE |
|
7 |
C53936183 |
10569999 |
PNB INVESTMENT
SERVICES LIMITED |
21/05/2015 |
- |
1250000000.0 |
C/O PNB CIRCLE
OFFICE, 6TH FLOOR , GUJARAT BHAVANNEAR M J LIBRARY, ASHRAM
ROAD.AHMEDABADGJ380009IN |
|
8 |
C53935367 |
10569997 |
PNB INVESTMENT
SERVICES LIMITED |
21/05/2015 |
- |
1250000000.0 |
C/O PNB CIRCLE
OFFICE, 6TH FLOOR , GUJARAT BHAVANNEAR M J LIBRARY, ASHRAM
ROAD.AHMEDABADGJ380009IN |
|
9 |
G70203781 |
10414083 |
PNB INVESTMENT SERVICES
LIMITED |
12/02/2013 |
17/11/2017 |
8801630000.0 |
C/O PUNJAB
NATIONAL BANK,CIRCLE OFFICE ,6TH FLOORGUJARAT BHAVAN, NR M J LIBRARY, ASHRAM
ROADAHMEDABADGJ380009IN |
|
10 |
G70273438 |
10414082 |
PNB INVESTMENT
SERVICES LIMITED |
12/02/2013 |
17/11/2017 |
8801630000.0 |
C/O PUNJAB
NATIONAL BANK,CIRCLE OFFICE ,6TH FLOORGUJARAT BHAVAN, NR M J LIBRARY, ASHRAM
ROADAHMEDABADGJ380009IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
Intangible assets
- Computer software
- Know-how
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 67.63 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 78.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
TEJ |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
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.