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Distributor (ISD), Office / Sale Office, Others, Recipient of Goods or Services, Retail Business, Service Provision, Supplier of Services, Warehouse / Depot, Wholesale Business, Works Contract
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Critical Summary
In evaluating the critical dimensions of a company, the analysis unfolds across four vital areas: Credit History, Compliance Rigor, Litigation History, and Market Sentiment. Credit History, identified with a moderate risk level, underlines a significant concern due to 111 defaults recorded in CIBIL over the last five years, flagging it as critical, which directly questions the financial stability and integrity of the entity. Immediate rectification measures, such as rigorous credit review processes and enhanced financial management practices, are imperative to mitigate future risks and improve creditworthiness.
The Compliance Rigor dimension, also marked as moderate risk, spotted 5 delays and 9 defaults in EPFO filings since June 2024, pinpointing a critical risk in labor compliance. This necessitates the adoption of stringent compliance management systems and regular audits to ensure adherence to regulatory mandates, thereby fostering operational transparency and trust among stakeholders.
Litigation History, perceived with moderate risk, reveals critical risk through 30 cases filed by the entity and 10 cases against it in the last five years. Enhanced legal oversight, including risk assessments and strategic litigation management, is crucial to minimize exposure and fortify legal standing.
Market Sentiment, identified at a high-risk level, showcased 8 adverse media mentions as critical, emphasizing the need for strategic reputation management and customer engagement initiatives to counteract negative perceptions and bolster the company's market image.
Conclusively, while the analyzed dimensions expose a spectrum of risks, proactively addressing these through improved financial oversight, compliance diligence, legal resilience, and reputation management strategies stands paramount. Such measures will not only mitigate existing risks but also enhance operational stability and stakeholder confidence.
Overall Summary
The overall risk profile of the company, after a comprehensive analysis across all assessed dimensions, is determined to
be Moderate. The detailed evaluation highlights the Corporate Structure & Operational Capability and Financial Health as facing moderate risks, underpinned by data such as a 23% management turnover rate and liquidity ratios below historical performance benchmarks. The Credit History dimension, noted for 111 defaults as per CIBIL records, falls under a moderate risk category, primarily mitigated by the absence of hits in DRT, NCLT, or NCLAT checks. Compliance Rigor is pegged at moderate risk due to identified delays and defaults in EPFO filings, conversely, Litigation History also settles at moderate risk, marked by the involvement in 30 cases and identification of 10 against the entity. Meanwhile, dimensions like Defaulter and Blacklist Mentions, Sanctions & PEP mentions, Promoter & Related Party Quality all register No Visible Risk, indicating a strong compliance and integrity framework. However, Market Sentiment is categorized as High risk due to negative media signals and customer complaints, urging immediate attention.
Conclusively, the blend of Moderate risk in core operational, financial, credit, compliance, and litigation aspects alongside favorable ratings in defaulter checks and promoter quality underscores a balanced risk landscape with distinct areas for improvement. The High risk in Market Sentiment necessitates strategies focused on reputation management and customer satisfaction to mitigate overarching threats to the company's standing and performance in the industry.
Risk Assessment Scorecard
The Risk Level of the given business target is as follows. There is an 'Overall Entity Risk' provided for an entity as per the various dimensions of risk listed under the section 'Risk Assessment Dimensions'. Each of these dimensions are further split into parameters. The rationale behind the risk classification is provided in the table subsequent to the following table. The 'Overall Entity Risk' and the Risk dimensions as well as Parameters under each dimension are color-coded as per the level of risk each one of them indicates as indexed below.
Risk Dimensions
Risk Parameters
Litigation History
Litigiousness
Criminal
Cases Against
Tax Litigations
Insolvency Risk
30.0
Background
Target
Defaulter and Blacklist
Market
SFIO, CBI and
Mentions 10.0
MCA Default
Regulator Defaults
Other Defaults
5.0
Sanctions
Target
Legal Cases
Trade
Political
Promoter and Related
Against
Restrictions
Exposure Of
Connected
Connected
Connected
Parties
Parties
Parties
Market Sentiment
Customer
5.0
Adverse Media
Complaints
Sanctions and PEP
Trade
Political
Regulator
Defaults
Parties
Against
Party Quality
Mentions
Restrictions and
Exposure Of
10.0
Connected
Scorecard Explanation
The following table provides an explanation to the ratings provided in the Risk Assessment Scorecard. The rationale behind each of the parameters is provided in this table.
Risk Parameter
Analyst Observations
Scale of the Company
Since the revenue of the target is high as compared to companies across industries, at
421774.0 Lakh INR, we have categorized the Scale of the Company as No Visible Risk.
Management Consistency
Since 23% of the management members have left the company before completing a
standard 5 year tenure, we have categorized 'Management Consistency' as Moderate
Risk.
Workforce Strength
Since there is 0.94% reduction in the workforce strength, as per EPFO Records for the
last 6 months, we have categorized Workforce Strength as Moderate Risk.
Liquidity Position
Since the Quick, Cash and Current ratios appear to be unfavourable at 0.59, 0.14 and
1.09 with respect to the entity's historic performance, we have classified 'Liquidity
Position' as High Risk.
Leverage Position
Since Debt, Debt Equity and Interest Coverage ratios appear to be favourable at 0.68,
2.16 and 2.17 with respect to the entity's historic performance, we have classified
'Leverage Position' as Moderate Risk.
Profitability
Since the net profit margin for the year appears to be unfavourable at 0.35%, with
respect to the entity's historic performance we have categorized it as High Risk.
Business Growth
Since the avg YoY Revenue growth rate for the last 5 years stands at a favourable 17%,
we have classified it as No Visible Risk.
Economic Defaults
Since there are 111 defaults identified against the target under CIBIL, in the last 5 years,
we have classified it as Critical Risk.
Insolvency Risk
Since there are No hits identified against the target in DRT, NCLT or NCLAT, in the last 5
years, we have classified it as No Visible Risk.
Risk Parameter
Analyst Observations
Indirect Tax Compliance
Since we have identified 5 delay and 1 default wrt to GST filings , we have classified it as
Moderate Risk.
Labour Compliance
Since there is 5 delays and 9 default wrt to EPFO filings since Jun, 2024, we have classified it as Critical Risk.
MCA Compliance
Since there are No filing defaults for the FYs -, identified against the target with respect
to mandatory MCA filings (MGT-7,AOC-4 and ADT-1), in the last 5 years, we have
classified the parameter as No Visible Risk.
Litigiousness
Since the entity has filed 30 cases against any party in the last 5 years, we have
classified the parameter as Critical Risk.
Criminal Background
Since there are No criminal cases filed against the target in the last 5 years, we have
classified the parameter as No Visible Risk.
Cases Against Target
Since there are 10 cases identified against the Target in the last 5 years, we have
classified it as Critical Risk.
Tax Litigations
Since there are No cases identified against the target under CESTAT, ITAT, ATFP, in the
last 5 years, we have classified it as No Visible Risk.
MCA Default
Since there are No hits identified against the target under any of the lists of defaults
issued by the MCA, we have classified it as No Visible Risk.
Market Regulator Defaults
Since there are No hits identified against the target under any unfavorable SEBI
mentions, in the last 5 years, we have categorized the parameter as No Visible Risk.
SFIO, CBI and Other
Since there are No defaults identified against the target under SFIO, CCI and CBI in the
Defaults
last 5 years, we classified as No Visible Risk.
Trade Restrictions and
Since there were No hits found against the party across international sanctions check,
Sanctions
we have classified it as No Visible Risk.
Political Exposure Of
Since there were No hits found against the party across various PEP lists, we classified it
Target
as No Visible Risk.
Risk Parameter
Analyst Observations
Legal Cases Against
Since there are No legal cases identified against the Connected Parties in the last 5
Connected Parties
years, we have classified it as No Visible Risk.
Regulator Defaults
Since there are No defaults identified against the Connected Parties under SEBI, MCA,
Against Connected Parties
SFIO, CCI and CBI, in the last 5 years. We have classified the parameter as No Visible
Risk.
Trade Restrictions
Since there were No hits found against the Connected parties across international
Connected Parties
sanctions check, we have classified it as No Visible Risk.
Political Exposure Of
Since there were No hits found against the parties across PEP lists, we classified the
Connected Parties
parameter as No Visible Risk
Adverse Media
Since there are 8 negative signals found against the Target as per our Media Research,
we have classified the parameter as Critical Risk.
Customer Complaints
Since there are 1 hits under NCDRC cases filed against the target, we have classified it
as Moderate Risk.
Corporate Structure & Operational Capability
The Corporate Structure & Operational Capability dimension assesses the company's size and scope, management consistency, and workforce strength to evaluate its readiness to address business risks. It examines the scale of operations, leadership stability, and availability of skilled personnel to determine the organization's capacity to effectively manage and mitigate business threats.
Risk Parameter
Analyst Observations
Scale of the Company
Since the revenue of the target is high as compared to companies across industries, at
421774.0 Lakh INR, we have categorized the Scale of the Company as No Visible Risk.
Since 23% of the management members have left the company before completing a
Management Consistency
standard 5 year tenure, we have categorized 'Management Consistency' as Moderate
Risk.
Workforce Strength
Since there is 0.94% reduction in the workforce strength, as per EPFO Records for the
last 6 months, we have categorized Workforce Strength as Moderate Risk.
Scale of the Company (Amount in INR Lakhs)
Element Name
2019 - 2020
2020 - 2021
2021 - 2022
2022 - 2023
2023 - 2024
Revenue in INR YoY
2,64,947.0
2,82,316.0
3,43,347.0
4,21,774.0
Management Consistency
Director Name
DIN
Term
ASHOK BHANDARI
12210
2018-Present
AMAR SINGH NEGI
8941850
2020-Present
BISWADIP GUPTA
48258
2021-Present
SUDIP BANERJEE
5245757
2012-Present
DESH RAJ DOGRA
226775
2021-Present
Director Name
DIN
Term
SANGEETA SUMESH
7080379
2015-Present
RAHUL CHOUDHURI
6817748
2017-Present
BIKRAMJIT NAG
827155
2008-Present
CHACKO JOSEPH
7528693
2019-Present
COLLEGAL SRINIVASAN
10149022
2024-Present
GOVINDARAJ
PANAMANNA HARIHARAN
10158148
2023-Present
NARAYANAN
TRIDIBESH MUKHERJEE
4777
2011-2017
PARTHA SEN
7547244
2021-2021
SOMEN BAL
562538
2002-2013
PRADIP KUMAR BISWAS
1667149
2007-2008
HARSH VARDHAN SACHDEV
6385288
2021-2023
SUDAM MAITRA
35398
2015-2020
RADHARAMAN
930374
2003-2017
BHATTACHARYA
RANGANATHARAO
1687752
2003-2019
MURALIDHAR
GOUTAM RAYCHOWDHURY
118560
2000-2023
KM UNNIKRISHNAN
826653
2003-2011
BULU PAUL MUKTIEH
123561
2002-2007
Workforce Strength
Month
Strength
Increase/Decrease
June 24
1,906
N/A*
July 24
1,913
Increase
August 24
1,920
Increase
September 24
1,917
Decrease
October 24
1,889
Decrease
November 24
193
Decrease
Analysis starts from this month
Financial Health
The Financial Health dimension assesses the company's liquidity position, leverage position, profitability, and business growth to evaluate its overall financial stability and performance. It examines the company's ability to meet short-term obligations, manage debt effectively, generate profits, and sustain growth over time.
Risk Parameter
Analyst Observations
Liquidity Position
Since the Quick, Cash and Current ratios appear to be unfavourable at 0.59, 0.14 and 1.09 with respect to the entity's historic performance, we have classified 'Liquidity
Position' as High Risk.
Leverage Position
Since Debt, Debt Equity and Interest Coverage ratios appear to be favourable at 0.68,
2.16 and 2.17 with respect to the entity's historic performance, we have classified
'Leverage Position' as Moderate Risk.
Profitability
Since the net profit margin for the year appears to be unfavourable at 0.35%, with
respect to the entity's historic performance we have categorized it as High Risk.
Business Growth
Since the avg YoY Revenue growth rate for the last 5 years stands at a favourable
17%, we have classified it as No Visible Risk.
Liquidity Position
Element Name
2019 - 2020
2020 - 2021
2021 - 2022
2022 - 2023
2023 - 2024
Quick Ratio
0.89
0.83
0.64
0.59
Current Ratio
1.5
1.36
1.17
1.09
Cash Ratio
0.41
0.41
0.28
0.14
Leverage Position
Element Name
2019 - 2020
2020 - 2021
2021 - 2022
2022 - 2023
2023 - 2024
Debt Equity Ratio
1.57
1.72
2.13
2.16
Debt Ratio
0.61
0.63
0.68
0.68
Interest Coverage
2.66
4.2
-1.32
2.17
Profitability
Element Name
2019 - 2020
2020 - 2021
2021 - 2022
2022 - 2023
2023 - 2024
Net Profit Margin %
0.97
2.27
-1.4
0.35
N/A*
Business Growth
Element Name
2019 - 2020
2020 - 2021
2021 - 2022
2022 - 2023
2023 - 2024
Revenue Growth %
-0.84
6.56
21.62
22.84
N/A*
Analysis starts from this year
➢ Refer Annexure 2 for complete historic financial statements.
Credit History
The Credit History dimension assesses an individual's or business entity's financial background. It considers economic defaults, insolvency risk, and credit ratings to determine creditworthiness and repayment capabilities, enabling informed decisions for lenders and financial institutions.
Risk Parameter
Analyst Observations
Economic Defaults
Since there are 111 defaults identified against the target under CIBIL, in the last 5 years, we have classified it as Critical Risk.
Since there are No hits identified against the target in DRT, NCLT or NCLAT, in the last
Insolvency Risk
5 years, we have classified it as No Visible Risk.
Debt Recovery, Bankruptcy and Insolvency Checks
Category
Observation/Comments
Status
CIBIL Defaulter Suit Filed (NPA) for economic defaults
Classified as an NPA
more than 25L
CIBIL Wilful Defaulter Suit Filed for economic defaults
NCLT Litigations Check for Insolvency and Bankruptcy
2 Insolvency / Liquidation Proceedings with
Orders
perfect match
NCLAT Litigations Check for Insolvency and Bankruptcy
No Insolvency / Liquidation Proceeding
Orders
IBBI Litigations Check for Insolvency and Bankruptcy
No Insolvency / Liquidation Proceeding
Orders
RBI Compounding Orders
No Compounding Order
➢ The above checks were executed to identify economic defaults where suits were filed, debt recovery applications against the party and insolvency applications filed against the party by its creditors.
➢ Refer Annexure 4 for case details.
Compliance Rigor
The Compliance Rigor dimension is a thorough assessment of parameters like indirect tax compliance, labor compliance, and MCA compliance to ensure adherence to regulatory obligations. It enables organizations to operate within legal frameworks, mitigate risks, and maintain transparency and trust among stakeholders.
Risk Parameters
Analyst Observations
Indirect Tax Compliance
Since we have identified 5 delay and 1 default wrt to GST filings , we have classified it
as Moderate Risk.
Labour Compliance
Since there is 5 delays and 9 default wrt to EPFO filings since Jun, 2024, we have classified it as Critical Risk.
MCA Compliance
Since there are No filing defaults for the FYs -, identified against the target with
respect to mandatory MCA filings (MGT-7,AOC-4 and ADT-1), in the last 5 years, we
have classified the parameter as No Visible Risk.
GST Registrations (Active)
Sr.
GSTIN
Date of
State
Principal Place of Business as per
Status
No
registration
GST Records
1
37AAACI6561R1ZW 01/07/2017
ANDHRA PRADESH
Flat No.2 and 3, Vasavi Colony, 59A-8/1-10,Gurunanak Colony,Vijayawada, Near Anjaneya
Active
Restaurant, Vijayawada, NTR, Andhra
Pradesh, 520008
2
03AAACI6561R1Z7
01/07/2017
PUNJAB
C-196A 1ST FLOOR, IFB INDUSTRIES INDUSTRIAL FOCAL POINT
MILLING, TURNING OR SCREW DRIVING), INCLUDING DIES FOR DRAWING OR
EXTRUDING METAL, AND ROCK DRILLING OR EARTH BORING TOOLS
8714
PARTS AND ACCESSORIES OF VEHICLES OF HEADINGS 8711 TO 8713
8448
AUXILIARY MACHINERY FOR USE WITH MACHINES OF HEADING 8444, 8445, 8446
OR 8447 (FOR EXAMPLE, DOBBIES, JACQUARDS, AUTOMATIC STOP MOTIONS,
SHUTTLE CHANGING MECHANISMS), PARTS AND ACCESSORIES SUITABLE FOR
USE SOLELY OR PRINCIPALLY WITH THE MACHINES OF THIS HEADING OR OF
HEADING 8444, 8445, 8446 OR 8447 (FOR EXAMPLE, SPINDLES AND SPINDLE
FLYERS, CARD CLOTHING, COMBS, EXTRUDING NIPPLES, SHUTTLES, HEALDS AND
HEALD FRAMES, HOSIERY NEEDLES)
8451
HOUSEHOLD OR LAUNDRY-TYPE WASHING MACHINES, INCLUDING MACHINES
WHICH BOTH WASH AND DRY
8415
AIR CONDITIONING MACHINES, COMPRISING A MOTOR DRIVEN FAN AND
ELEMENTS FOR CHANGING THE TEMPERATURE AND HUMIDITY, INCLUDING
THOSE MACHINES IN WHICH THE HUMIDITY CANNOT BE SEPARATELY REGULATED
72112350
STRIP
72042990
OTHER
HSN Code
Description
998898
Other Job work services nowhere else classified
441480
OTHER TAXABLE SERVICES - OTHER THAN THE ONES MENTIONED
85161000
ELECTRIC INSTANTANEOUS OR STORAGE WATER HEATERS AND IMMERSION
HEATERS
998599
Other support services nowhere else classified
87142010
MECHANICALLY PROPELLED
85012000
OTHER DC MOTORS, DC GENERATORS, OTHER THAN PHOTOVOLTAIC GENERATORS
82079090
OTHER
87084000
GEAR BOXES AND PARTS THEREOF
8420
CALENDERING OR OTHER ROLLING MACHINES, OTHER THAN FOR METALS OR
GLASS, AND CYLINDERS THEREFOR
85093000
ELECTRO-MECHANICAL DOMESTIC APPLIANCES, WITH SELF-CONTAINED
ELECTRIC MOTOR KITCHEN WASTE DISPOSERS
GST Filing History
Following is the summary of Filing Checks executed across all active GSTINs and the list of all GST registrations identified along with their individual filing status.
Filings Summary For All Active GSTINs
Checks (period considered)
Filing Types Considered
% On Time
% Delays
% Defaults
Status
Monthly Filings
GSTR1 GSTR3B
99.1 %
0.7 %
0.2 %
Jun 2024 -Nov 2024
GSTR6
(430/434)
(3/434)
(1/434)
Quarterly Filings
- N/A -
- N/A -
- N/A -
-
-
(0/0)
(0/0)
(0/0)
Annual Filings
GSTR9
99.0 %
1.0 %
0.0 %
Apr 2021 - Mar 2024
GSTR9C
(205/207)
(2/207)
(0/207)
-> Delays / Defaults detected
List Of All Active GSTINs & Their Individual Filing Status
Sr. No
GSTIN
State
% On Time
% Delays
% Defaults
Status
1
37AAACI6561R1ZW ANDHRA PRADESH
94.74 %
5.26 %
0.0 %
(18/19)
(1/19)
(0/19)
2
03AAACI6561R1Z7
PUNJAB
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
3
27AAACI6561R2ZW
MAHARASHTRA
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
4
20AAACI6561R1ZB
JHARKHAND
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
5
07AAACI6561R1ZZ
DELHI
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
6
29AAACI6561R3ZR
KARNATAKA
94.74 %
0.0 %
5.26 %
(18/19)
(0/19)
(1/19)
7
19AAACI6561R1ZU
WEST BENGAL
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
8
02AAACI6561R2Z8
HIMACHAL
100.0 %
0.0 %
0.0 %
PRADESH
(18/18)
(0/18)
(0/18)
9
24AAACI6561R1Z3
GUJARAT
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
10
30AAACI6561R1ZA
GOA
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
11
08AAACI6561R3ZV
RAJASTHAN
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
12
19AAACI6561R2ZT
WEST BENGAL
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
13
19AAACI6561R5ZQ
WEST BENGAL
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
14
33AAACI6561R2Z3
TAMIL NADU
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
Sr. No
GSTIN
State
% On Time
% Delays
% Defaults
Status
15
24AAACI6561R2Z2
GUJARAT
73.33 %
26.67 %
0.0 %
(11/15)
(4/15)
(0/15)
16
33AAACI6561R1Z4
TAMIL NADU
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
17
09AAACI6561R1ZV
UTTAR PRADESH
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
18
30AAACI6561R2Z9
GOA
100.0 %
0.0 %
0.0 %
(6/6)
(0/6)
(0/6)
19
30AAACI6561R3Z8
GOA
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
20
05AAACI6561R1Z3
UTTARAKHAND
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
21
18AAACI6561R1ZW
ASSAM
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
22
19AAACI6561R4ZR
WEST BENGAL
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
23
04AAACI6561R1Z5
CHANDIGARH
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
24
06AAACI6561R1Z1
HARYANA
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
25
36AAACI6561R1ZY
TELANGANA
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
26
29AAACI6561R1ZT
KARNATAKA
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
27
32AAACI6561R1Z6
KERALA
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
28
29AAACI6561R4ZQ
KARNATAKA
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
29
22AAACI6561R1Z7
CHHATTISGARH
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
30
34AAACI6561R1Z2
PONDICHERRY
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
Sr. No
GSTIN
State
% On Time
% Delays
% Defaults
Status
31
06AAACI6561R2Z0
HARYANA
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
32
21AAACI6561R1Z9
ORISSA
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
33
19AAACI6561R3ZS
WEST BENGAL
100.0 %
0.0 %
0.0 %
(6/6)
(0/6)
(0/6)
34
23AAACI6561R2Z4
MADHYA PRADESH
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
35
27AAACI6561R1ZX
MAHARASHTRA
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
36
10AAACI6561R1ZC
BIHAR
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
37
01AAACI6561R1ZB
JAMMU KASHMIR
100.0 %
0.0 %
0.0 %
(18/18)
(0/18)
(0/18)
-> Delays / Defaults detected
EPF Data- Headcount and Labor Information (Amount in INR Lakhs)
Establishment Code: PYKRP0019273000
Establishment State: KARNATAKA
Month
Headcount as per EPF data month on month
EPF amount paid
Payment
Status
June 24
432
45.83
July 24
434
59.84
August 24
437
51.56
September 24
434
49.98
October 24
429
47.52
Establishment Code: PYKRP0019273000
Establishment State: KARNATAKA
Month
Headcount as per EPF data month on month
EPF amount paid
Payment
Status
November 24
-
-
-> Delay(s) found
-> On Time
Establishment Code: MPBPL0012060000
Establishment State: MADHYA PRADESH
Month
Headcount as per EPF data month on month
EPF amount paid
Payment
Status
June 24
-
-
July 24
-
-
August 24
-
-
September 24
-
-
October 24
-
-
November 24
-
-
-> Delay(s) found
Establishment Code: WBCAL1351901000
Establishment State: WEST BENGAL
Month
Headcount as per EPF data month on month
EPF amount paid
Payment
Status
June 24
105
1.93
July 24
72
2.04
August 24
77
2.13
September 24
76
1.91
October 24
74
2.07
November 24
-
-
-> Delay(s) found
-> On Time
Establishment Code: WBHLO0043605000
Establishment State: WEST BENGAL
Month
Headcount as per EPF data month on month
EPF amount paid
Payment
Status
June 24
66
4.85
July 24
66
4.78
August 24
64
4.88
September 24
64
4.77
October 24
64
4.56
November 24
62
4.52
-> Delay(s) found
-> On Time
Establishment Code: WBCAL0016463000
Establishment State: WEST BENGAL
Month
Headcount as per EPF data month on month
EPF amount paid
Payment
Status
June 24
1174
141.25
July 24
1209
142.61
August 24
1210
147.02
September 24
1211
144.11
October 24
1192
143.51
November 24
-
-
-> Delay(s) found
-> On Time
Establishment Code: PYBOM1954405000
Establishment State: KARNATAKA
Month
Headcount as per EPF data month on month
EPF amount paid
Payment
Status
June 24
129
12.85
July 24
132
13.94
August 24
132
13.59
Establishment Code: PYBOM1954405000
Establishment State: KARNATAKA
Month
Headcount as per EPF data month on month
EPF amount paid
Payment
Status
September 24
132
13.35
October 24
130
13.39
November 24
131
13.47
-> On Time
MCA Compliance
Financial Year
Filing Type
Filing Status
2024
AOC-4
MGT-7
ADT-1
AOC-4
2023
MGT-7
ADT-1
AOC-4
2022
MGT-7
ADT-1
Checks run for annual filings with the MCA.
Litigation History
The Litigation History dimension assesses parameters such as litigiousness, criminal background, cases against the target, tax litigations, and insolvency risk to gain insights into an individual or organization's legal background and potential risks. This evaluation helps inform decision-making, risk assessments, and legal strategy development for stakeholders involved.
Risk Parameters
Analyst Observations
Insolvency Risk
Since there are No hits identified against the target in DRT, NCLT or NCLAT, in the last
5 years, we have classified it as No Visible Risk.
Litigiousness
Since the entity has filed 30 cases against any party in the last 5 years, we have classified the parameter as Critical Risk.
Criminal Background
Since there are No criminal cases filed against the target in the last 5 years, we have
classified the parameter as No Visible Risk.
Cases Against Target
Since there are 10 cases identified against the Target in the last 5 years, we have
classified it as Critical Risk.
Tax Litigations
Since there are No cases identified against the target under CESTAT, ITAT, ATFP, in the
last 5 years, we have classified it as No Visible Risk.
Legal Screening
Category
Observation/Comments
Status
Supreme Court
2 litigations with perfect match against the
target
High Courts
5 litigations with perfect match against the
target
Insolvency and Bankruptcy Checks
2 litigations with perfect match against the
target
Debt Recovery Proceedings
No litigation against the target
Cheque Bounce Litigations
No litigation against the target
Criminal Litigations
No litigation against the target
Category
Observation/Comments
Status
Tax disputes
No litigation against the target
➢ Checks were executed on the given business across the above courts. Observations are provided above.
➢ Refer Annexure 4 for case details.
Defaulter and Blacklist Mentions
Defaulter and Blacklist Mentions dimension is an evaluation of parameters such as MCA defaults, market regulator defaults, and SFIO, CBI, and other defaults to determine an individual or organization's history of non-compliance and involvement in fraudulent or criminal activities. This assessment assists in identifying potential risks, ensuring regulatory compliance, and making informed decisions regarding partnerships and financial engagements.
Risk Parameters
Analyst Observations
MCA Default
Since there are No hits identified against the target under any of the lists of defaults
issued by the MCA, we have classified it as No Visible Risk.
Market Regulator Defaults
Since there are No hits identified against the target under any unfavorable SEBI
mentions, in the last 5 years, we have categorized the parameter as No Visible Risk.
SFIO, CBI and Other Defaults
Since there are No defaults identified against the target under SFIO, CCI and CBI in
the last 5 years, we classified as No Visible Risk.
MCA- Ministry of Corporate Affairs
Category
Observation/Comments
Status
Defaulters - Company List
No record found
Defaulters - Vanishing Companies
No record found
Defaulters - Dormant Companies
No record found
Defaulting Directors
No record found
Market Regulators Default and Blacklisting
Category
Observation/Comments
Status
SEBI Enforcement Orders
No record found
Category
Observation/Comments
Status
SEBI Un-served Summons / Notices
No record found
SEBI Debarred List
No record found
SFIO and CBI- Serious Fraud and Economic Offenses Checks
Category
Observation/Comments
Status
SFIO Convicted Directors Check
No record found
SFIO Proclaimed Offenders Check
No record found
CBI Notices Check
No record found
CCI Order Check
No record found
ATFP Check
No dispute present
Sanctions & PEP mentions
Sanctions & PEP Mentions involve assessing trade restrictions, sanctions, and political exposure to identify potential risks associated with an individual or organization. This evaluation ensures compliance with trade laws, regulations, and mitigates risks related to corruption, bribery, and conflicts of interest.
Risk Parameters
Analyst Observations
Trade Restrictions and
Since there were No hits found against the party across international sanctions check,
Sanctions
we have classified it as No Visible Risk.
Political Exposure Of Target
Since there were No hits found against the party across various PEP lists, we
classified it as No Visible Risk.
Global Sanctions
Category
Observation/Comments
Status
List of Foreign Sanctions
No record found
Political Exposure of Target
Category
Observation/Comments
Status
Member/Ex-Member of Rajya Sabha
No record found
Member/Ex-Member of Lok Sabha
No record found
Member/Ex-Member of State Assembly
No record found
Promoter & Related Party Quality
The Promoter & Related Party Quality dimension assesses the credibility and integrity of promoters and related parties through parameters like legal cases, regulator defaults, trade restrictions and political exposure. This evaluation helps stakeholders make informed decisions by identifying potential risks, ensuring regulatory compliance and safeguarding against legal and reputational concerns.
Risk Parameters
Analyst Observations
Legal Cases Against
Since there are No legal cases identified against the Connected Parties in the last 5
Connected Parties
years, we have classified it as No Visible Risk.
Regulator Defaults Against
Since there are No defaults identified against the Connected Parties under SEBI, MCA,
Connected Parties
SFIO, CCI and CBI, in the last 5 years. We have classified the parameter as No Visible
Risk.
Trade Restrictions
Since there were No hits found against the Connected parties across international
Connected Parties
sanctions check, we have classified it as No Visible Risk.
Political Exposure Of
Since there were No hits found against the parties across PEP lists, we classified the
Connected Parties
parameter as No Visible Risk
Legal Screening 1 for Connected Parties
Category
Observation/Comments
Status
Supreme Court
No litigation against the CPs
High Courts
No litigation against the CPs
Insolvency and Bankruptcy Checks
No litigation against the CPs
Debt Recovery Proceedings
No litigation against the CPs
Cheque Bounce Litigations
No litigation against the CPs
National Consumer Disputes Redressal
No dispute found
Commission
1 Court records that match the target name are deemed as "Low Probable Match," while those that match the father's name along with the target name are deemed as "High Probable Match"
Category
Observation/Comments
Status
Criminal Litigations
No litigation against the CPs
Tax disputes
No litigation against the CPs
➢ Checks were executed on the given business across the following courts. Observations are provided below.
➢ Refer Annexure 1 for List of promoters and list of Connected Parties
➢ Refer Annexure 4 for case details
Market Regulators Default and Blacklisting
Category
Observation/Comments
Status
Defaulting Directors
No record found
SEBI Enforcement Orders
No record found
SEBI Un-served Summons / Notices
No record found
SEBI Debarred List
No record found
CIBIL Defaulter Suit Filed (NPA) for economic defaults
No record found against the CPs
more than 25L
CIBIL Wilful Defaulter Suit Filed for economic defaults
No record found against the CPs
more than 25L INR
ATFP Check
No record found
Global Sanctions- Connected Parties
Category
Observation/Comments
Status
List of Foreign Sanctions
No record found
Political Exposure- Connected Parties
|
| |
Category
Observation/Comments
Status
Member/Ex-Member of Lok Sabha
No record found
Member/Ex-Member of State Assembly
No record found
Market Sentiment
The Market Sentiment dimension assesses adverse media and customer complaints to evaluate the overall perception of an individual or organization in the market. This analysis helps gauge reputation, identify areas for improvement, and make strategic decisions to enhance market sentiment.
Risk Parameters
Analyst Observations
Adverse Media
Since there are 8 negative signals found against the Target as per our Media Research,
we have classified the parameter as Critical Risk.
Customer Complaints
Since there are 1 hits under NCDRC cases filed against the target, we have classified it as Moderate Risk.
Adverse Media Checks
Category
Observation/Comments
Status
Financial Challenges
7 adverse media found
KMP departures
No adverse media found
External Challenges (Competitors)
1 adverse media found
Legal and Regulatory Issues
No adverse media found
Other Adverse Media Topics
No adverse media found
Consumer Court
Category
Observation/Comments
Status
National Consumer Disputes Redressal Commission
No dispute found
The above checks were executed to identify any disputes ongoing or that may have previously occurred between the target and its customers.
Annexures
Annexure 1
Promoters and Connected Parties Analyzed
Promoters and
Entity
Id
Father's
Aliases
Detailed Relation Chain with Target
Connected Parties
Type
Name
Considered
Party
GULAB
ashok
1) Ashok Bhandari is Director of IFB
ASHOK
Director
DIRECTOR-D
BHANDA
bhandari
INDUSTRIES LTD
BHANDARI .
IN-12210
RI SINGH
ashok
bhandari
1) Amar Singh Negi is Director of IFB
AMAR SINGH
DIRECTOR-D
CHANDE
amar singh
INDUSTRIES LTD
NEGI
Director
IN-8941850
R SINGH
negi
2) Amar Singh Negi is Share Holder of
NEGI
IFB INDUSTRIES LTD
DIRECTOR-D
PRAN
biswadip
1) Biswadip Gupta is Director of IFB
BISWADIP GUPTA
Director
IN-48258
KRISHNA
gupta
INDUSTRIES LTD
GUPTA
AJAY
1) Sudip Banerjee is Director of IFB
SUDIP BANERJEE
Director
DIRECTOR-D
KUMAR
sudip
INDUSTRIES LTD
IN-5245757
BANERJE
banerjee
E
RAM
1) Desh Raj Dogra is Director of IFB
DESH RAJ DOGRA
Director
DIRECTOR-D IN-226775
DITTA
desh raj dogra
INDUSTRIES LTD
DOGRA
BALARA
1) Sangeeta Sumesh is Director of IFB
SANGEETA
Director
DIRECTOR-D
MAN
sangeeta
INDUSTRIES LTD
SUMESH
IN-7080379
SANKAR
sumesh
AN
Promoters and
Entity
Id
Father's
Aliases
Detailed Relation Chain with Target
Connected Parties
Type
Name
Considered
Party
RANJIT
1) Rahul Choudhuri is Director of IFB
RAHUL
Director
DIRECTOR-D
KUMAR
rahul
INDUSTRIES LTD
CHOUDHURI
IN-6817748
CHOUDH URI
choudhuri
1) Bikramjit Nag is Director of IFB
BIKRAMJIT NAG
Director
DIRECTOR-D
BIJON
INDUSTRIES LTD
IN-827155
NAG
bikramjit nag
2) Bikramjit Nag is Share Holder of IFB
INDUSTRIES LTD
PATHINA
1) Chacko Joseph is Director of IFB
CHACKO JOSEPH
Director
DIRECTOR-D
NCHIL
chacko joseph
INDUSTRIES LTD
IN-7528693
CHACKO
JOSEPH
COLLEGA
1) Collegal Srinivasan Govindaraj is
COLLEGAL
L
collegal
Director of IFB INDUSTRIES LTD
SRINIVASAN
Director
DIRECTOR-D
GOVIND
srinivasan
IN-10149022
ASWAMI
GOVINDARAJ
SRINIVAS
govindaraj
AN
PANAMANNA
P V
panamanna
1) Panamanna Hariharan Narayanan is
HARIHARAN
Director
DIRECTOR-D IN-10158148
HARIHAR
hariharan
Director of IFB INDUSTRIES LTD
NARAYANAN
AN
narayanan
1) Rajshankar Ray is Share Holder of IFB INDUSTRIES LTD
DIRECTOR-D
HEM
RAJSHANKAR RAY
Director
IN-3498696
SHANKA R RAY
rajshankar ray
2) Rajshankar Ray is Director of IFB
INDUSTRIES LTD
RATHINDRA
DIRECTOR-D
GOPAL
rathindra nath
1) Rathindra Nath Mitra is Director of IFB
NATH MITRA
Director
IN-1071347
CHANDR
mitra
INDUSTRIES LTD
A MITRA
➢ Refer to the link - Connected Party List for the complete list of connected parties.
Annexure 2
Financial History - Balance Sheets / PL Statement and Cash Flow
Following is the Balance Sheet and PL details of the business.
Balance Sheet (Amount in INR Lakhs)
Element Name
2019 - 2020
2020 - 2021
2021 - 2022
2022 - 2023
2023 - 2024
Share Capital
4,128.0
4,128.0
4,128.0
4,128.0
Reserves and Surplus
60,536.0
65,460.0
60,698.0
62,619.0
Shareholders Funds
64,664.0
69,588.0
64,826.0
66,747.0
Long Term Borrowings
25,372.0
17,156.0
11,467.0
6,365.0
Deferred Tax Liabilities
Net
1,129.0
2,676.0
0.0
1,557.0
Other Long Term
Liabilities
1,669.0
2,562.0
1,939.0
3,034.0
Long Term Provisions
6,551.0
5,912.0
5,098.0
5,157.0
Noncurrent Liabilities
39,160.0
32,245.0
30,276.0
30,036.0
Short Term Borrowings
3,515.0
2,664.0
12,394.0
14,044.0
Trade Payables
47,313.0
65,547.0
81,199.0
83,033.0
Other Current Liabilities
7,330.0
11,054.0
9,496.0
11,217.0
Short Term Provisions
428.0
607.0
899.0
982.0
Current Liabilities
62,643.0
87,308.0
1,07,944.0
1,13,896.0
Equity and Liabilities
1,66,467.0
1,89,141.0
2,03,046.0
2,10,679.0
Tangible Assets
55,954.0
59,658.0
64,888.0
65,305.0
Intangible Assets
4,114.0
3,338.0
2,908.0
2,164.0
Capital Work in Progress
887.0
1,883.0
1,185.0
1,234.0
Intangible Assets Under
Development
96.0
232.0
328.0
854.0
Fixed Assets
55,954.0
59,658.0
64,888.0
65,305.0
Element Name
2019 - 2020
2020 - 2021
2021 - 2022
2022 - 2023
2023 - 2024
Noncurrent Investments
0.0
225.0
225.0
9,684.0
Deferred Tax Assets Net
205.0
0.0
Long Term Loans and
Advances
55.0
51.0
61.0
55.0
Other Noncurrent Assets
6,295.0
1,238.0
3,166.0
2,975.0
Noncurrent Assets
72,190.0
70,769.0
76,624.0
86,254.0
Current Investments
15,280.0
25,822.0
22,722.0
8,915.0
Inventories
38,338.0
46,228.0
57,682.0
57,309.0
Trade Receivables
31,218.0
41,522.0
Cash and Cash
Equivalents
10,487.0
9,829.0
7,035.0
7,602.0
Short Term Loans and
Advances
55.0
53.0
60.0
56.0
Other Current Assets
7,204.0
6,471.0
5,103.0
5,958.0
Current Assets
94,277.0
1,18,372.0
1,26,422.0
1,24,425.0
Assets
1,66,467.0
1,89,141.0
2,03,046.0
2,10,679.0
Total Debt
28,887.0
19,820.0
23,861.0
20,409.0
Net Debt
18,400.0
9,991.0
16,826.0
12,807.0
Profit And Loss Statement (Amount in INR Lakhs)
Element Name
2019
-
2020
2020 -
2021
2021 -
2022
2022 -
2023
2023
- 2024
Revenue from Operations
2,63,697.0
2,80,080.0
3,41,538.0
4,19,499.0
Other Income
1,250.0
2,236.0
1,809.0
2,275.0
Revenue
2,64,947.0
2,82,316.0
3,43,347.0
4,21,774.0
Cost of Materials Consumed
1,03,621.0
1,23,639.0
1,72,020.0
2,19,950.0
Purchases of Stock in Trade
39,208.0
35,129.0
40,931.0
39,385.0
Element Name
2019 - 2020
2020 - 2021
2021 - 2022
2022 - 2023
2023 - 2024
Changes in Inventories of
Finished Goods, Work in Progress and Stock in
6,544.0
-2,307.0
-6,707.0
-3,515.0
Trade
Employee Benefit Expense
29,888.0
30,693.0
37,236.0
40,507.0
Managerial Remuneration
0.0
0.0
0.0
0.0
Power and Fuel
3,192.0
3,252.0
3,848.0
4,403.0
Finance Costs
1,609.0
3,091.0
3,176.0
2,944.0
Depreciation, Depletion and Amortisation Expense
9,195.0
10,242.0
11,545.0
12,150.0
Other Expenses
72,355.0
71,938.0
92,512.0
1,06,894.0
Expenses
2,62,420.0
2,72,425.0
3,50,713.0
4,18,315.0
Exceptional Items
148.0
0.0
0.0
0.0
Profit Before Extraordinary Items and Tax
2,527.0
9,891.0
-7,366.0
3,459.0
Profit Before Tax
2,675.0
9,891.0
-7,366.0
3,459.0
Current Tax
178.0
3,763.0
-,340.0
34.0
Deferred Tax
-80.0
-,283.0
-2,210.0
1,690.0
Tax Expense
98.0
3,480.0
-2,550.0
1,724.0
Profit Loss for Period from Continuing Operations
2,577.0
6,411.0
-4,816.0
1,735.0
Profit Loss for Period
2,577.0
6,411.0
-4,816.0
1,494.0
Basic Earning Per Equity Share*
0.0
0.0
-0.0
0.0
Diluted Earnings Per Equity Share*
0.0
0.0
-0.0
0.0
EBIT
4,284.0
12,982.0
-4,190.0
6,403.0
EBITDA
13,479.0
23,224.0
7,355.0
18,553.0
Gross Profit
1,61,326.0
1,58,677.0
1,71,327.0
2,01,824.0
Other Income
1,250.0
2,236.0
1,809.0
2,275.0
*Amounts are in full value and not in Lakhs
Cash Flow Statement (Amount in INR Lakhs)
Element Name
2019 -
2020
2020 -
2021
2021 -
2022
2022 -
2023
2023
-
2024
Cash Flows from Used in Operating Activities
18,448.0
29,192.0
5,056.0
10,553.0
Cash Flows from Used in Investing Activities
-,37,409.0
-,18,663.0
-2,724.0
-,604.0
Interest Paid (Classified Financing Activities)
1,806.0
1,434.0
Cash Flows from Used in Financing Activities
22,255.0
-,11,177.0
-5,145.0
-9,414.0
Cash and Cash Equivalents End of Year
10,487.0
9,829.0
7,035.0
7,602.0
Net Increase/Decrease in Cash and Cash
3,323.0
-,658.0
-2,794.0
567.0
Equivalents
Annexure 3
Tax Disputes
Checks were executed across the following regulators for any tax disputes that may be ongoing or occurred in the last 5 years.
Category
Observation/Comments
Status
CESTAT
No dispute present
Income Tax Appellate Tribunal
No dispute present
Annexure 4
Details of hits against the Target and/or Connected parties
➢ Refer to the link Litigation Hits Target for details of hits on the target.
➢ Refer to the link Litigation Hits Connected Parties for details of hits on the Connected Parties.
Limitations of Liabilities
Our findings detailed in this report are based on publicly available information as on the Report Date. We undertake no responsibility to update this report with any incidents that may occur in relation to the target and its connected parties after the Report Date.
The report is to be read in totality and not in parts, and in conjunction with relevant sections mentioned in this document.
This report does not constitute a legal report or advice. Our investigation is not performed in accordance with generally accepted auditing, review and other assurance standards.
You are bound by the Terms of Service and Privacy Policy of SignalX Private Limited as detailed on the website www.signalx.ai
SignalX relies on data made available on the above-mentioned sources by their respective agencies/regulators/departments as on the date of this report. The information is provided as-is and without any additional verification.
To the fullest extent permitted by applicable law, in no event will SignalX, its affiliates, directors, officers, employees, agents, entities or licensors be liable to any person for any indirect, incidental, special, punitive, cover or consequential damages (including, without limitation, damages for lost profits, revenue, sales, goodwill, use of the content, impact on business, business interruption, loss of anticipated savings, loss of business opportunity) however caused, under any theory of liability, including, without limitation, contract, tort, warranty, breach of statutory duty, negligence or otherwise, even if the liable party has been advised as to the possibility of such damages or could have foreseen such damages. To the maximum extent permitted by applicable law, the aggregate liability of SignalX and its affiliates, officers, employees, agents, entities and licensors relating to the services will be limited to an amount not greater than one US dollar. The limitations and exclusions also apply if this remedy does not fully compensate you for any losses or fails of its essential purpose. Once the transaction is completed as per the provisions of this document, SignalX is no longer liable for any claims from the User or to any third party. Any dispute shall have to be resolved amongst themselves and the user hereby indemnifies SignalX from any such disputes or claims or litigations or related thereof.
You agree to indemnify and hold SignalX and its affiliates, directors, officers, employees, agents, entities and licensors harmless from and against any liabilities, losses, damages or costs, including reasonable attorneys' fees, incurred in connection with or arising from any third-party allegations, claims, actions, disputes, or demands asserted against any of them as a result of or relating to your use of our Services or any wilful misconduct on your part.
