MIRA
INFORM REPORT
|
Report Date : |
11.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
ANUSAYA
AUTO PRESS PARTS PRIVATE LIMITED |
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Registered Office : |
Gat
No. 388, Village Mahalunge, Taluka Khed, District Pune – 410501, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2000 |
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Date of Incorporation : |
03.04.1995 |
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Com. Reg. No.: |
11-87102 |
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CIN No.: [Company
Identification No.] |
U34300PN1995PTC087102 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTA02457A |
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PAN No.: [Permanent
Account No.] |
AACCA3246K |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufactures
heavy sheet meal body parts for various automobiles. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
125000 |
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Status : |
Satisfactory
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Payment Behaviour : |
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Litigation : |
Clear |
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Comments : |
Subject
appears to be an established company having satisfactory track. Trade relations are fair. Nothing adverse reported. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
Gat
No. 388, Village Mahalunge, Taluka Khed, District Pune – 410501, Maharashtra,
India |
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Tel. No.: |
91-2135-259026/256026 |
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Fax No.: |
91-2135-259090 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr.
Dattatraya Tukaram Wadhokar |
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Designation : |
Director
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Address : |
Plot
350, Sector 24, Pradhikaran Tilak Road, Nigdi, Pune – 411044, Maharashtra,
India |
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Date of Birth/Age : |
01.1.1939 |
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Date of Appointment : |
03.04.1995 |
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Name : |
Mr.
Manohar Dattatraya Wadhokar |
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Designation : |
Director
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Address : |
Plot
350, Sector 24, Pradhikaran Tilak Road, Nigdi, Pune – 411044, Maharashtra,
India |
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Date of Birth/Age : |
01.10.1962 |
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Date of Appointment : |
03.04.1995 |
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Name : |
Mr.
Suresh Dattatraya Wadhokar |
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Designation : |
Director
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Address : |
Plot
350, Sector 24, Pradhikaran Tilak Road, Nigdi, Pune – 411044, Maharashtra,
India |
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Date of Birth/Age : |
28.12.1965 |
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Date of Appointment : |
03.04.1995 |
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Name : |
Mr.
Jagdish Dattatraya Wadhokar |
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Designation : |
Director
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Address : |
Plot
350, Sector 24, Pradhikaran Tilak Road, Nigdi, Pune – 411044, Maharashtra, India |
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Date of Birth/Age : |
08.05.1970 |
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Date of Appointment : |
03.04.1995 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Mr.
Dattatraya Tukaram Wadhokar |
|
90000 |
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Mr.
Manohar Dattatraya Wadhokar |
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18000 |
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Mr.
Suresh Dattatraya Wadhokar |
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18000 |
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Mr. Jagdish
Dattatraya Wadhokar |
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18000 |
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Ms.
Anusaya Dattatraya Wadhokar |
|
6000 |
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TOTAL |
|
150000 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures
heavy sheet meal body parts for various automobiles. |
GENERAL
INFORMATION
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No. of Employees : |
90 |
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Bankers : |
Bank
of Maharashtra D. G.
Marg, Pune – 411004, Maharashtra, India |
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Facilities : |
Secured
Loans : Cash Credit |
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Banking Relations : |
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Auditors : |
P. M.
Kawade & Company Chartered
Accountants, Plot
78, Sector 21, Yamunanagar, Nigdi, Pune – 411044, Maharashtra, India |
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Tel. No.: |
91-20-771986 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
5000 |
Equity
Shares |
Rs. 100/- each |
Rs. 0.500 million |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
40 |
Equity
Shares |
Rs. 100/- each |
Rs. 0.004 million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
No
latest financials could be available from any sources.
Management
remained non –cooperative during current investigation.
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2000 |
31.03.1999 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
0.004 |
0.004 |
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2] Share Application Money |
|
27.237 |
33.711 |
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3] Reserves & Surplus |
|
6.231 |
1.770 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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33.472 |
35.485 |
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LOAN FUNDS |
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1] Secured Loans |
|
1.560 |
1.618 |
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2] Unsecured Loans |
|
14.988 |
2.125 |
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TOTAL BORROWING |
|
16.548 |
3.743 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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50.020 |
39.228 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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38.891 |
34.423 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
|
3.262 |
0.654 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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4.572 |
3.520 |
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Sundry Debtors |
|
26.904 |
9.355 |
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Cash & Bank Balances |
|
0.012 |
0.003 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
0.528 |
1.476 |
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Total Current Assets |
|
32.016 |
14.354 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities & Provisions |
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24.149 |
10.203 |
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Total Current Liabilities |
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24.149 |
10.203 |
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Net Current Assets |
|
7.867 |
4.151 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
50.020 |
39.228 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2000 |
31.03.1999 |
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Sales Turnover [including other income] |
|
35.604 |
6.020 |
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Profit/(Loss)
Before Tax |
|
1.631 |
6.020 |
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Provision
for Taxation |
|
0.399 |
1.622 |
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Profit/(Loss)
After Tax |
|
1.232 |
4.398 |
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Total
Expenditure |
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110.588 |
33.973 |
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2000 |
31.03.1999 |
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PAT / Total Income |
(%) |
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3.46 |
73.05 |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
4.58 |
100.00 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
2.30 |
12.34 |
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Return
on Investment (ROI) (PBT/Networth) |
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0.04 |
0.16 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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1.21 |
0.39 |
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Current
Ratio (Current
Asset/Current Liability) |
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|
1.32 |
1.40 |
LOCAL AGENCY
FURTHER INFORMATION
The
company has recorded a turnover of Rs. 117.511 millions as against turnover of
Rs. 35.700 millions in the previous year considering the overall industrial
performance during the first six months of the current year. They expect to report better results in the
ensuring year.
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Name of the company |
ANUSAYA AUTO PRESS PARTS PRIVATE LIMITED |
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Presented By |
BANK OF MAHARASHTRA, D. G. BRANCH, PUNE – 411006 |
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1) Date and description of instrument creating the change |
1. Hypothecation of goods and book debts to secure cash credit facilities |
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2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit of Rs. 1.500 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Stock of raw materials, semi finished and finished goods and receivables up to 90 days Interest @ 14% p.a. Margin : 25% Purpose for Working Capital Margin : 25% |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Guarantors – Personal guarantee of all directors Text Review within one year |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Maharashtra Deccan Gymkhana Branch, Pune – 411004 |
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6) Date and brief description of instrument modifying the charge |
Dt. 05.04.2004 Hypothecation of goods and book debts to secure cash credit facility |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Cash Credit Limit increased to Rs. 12.500 millions from existing Rs. 4.000 millions. Purpose – Working Capital Security – Hyp. of stock and receivables & personal guarantee of all directors Margin – 25% in Banks favour Rate of Interest : PLR + 2% i.e. 13% p.a. at present with monthly rests Review : Within 12 months Collateral / Security : Hyp. of machinery cost Rs. 20.246 millions |
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Name of the company |
ANUSAYA AUTO PRESS PARTS PRIVATE LIMITED |
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Presented By |
BANK OF MAHARASHTRA, D. G. BRANCH, PUNE – 411006 |
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1) Date and description of instrument creating the change |
Dt. 17.04.2003 1. Pledge of Term Deposits of company / director and third parties MV Rs. 6.797 millions 2. Pledge/ assignment of paper security [m.v. Rs. 9.497 millions] as follows :- a. Units of UTI – 64 M.V. Rs. 3.695 millions b. LIC Policies – S. V. Rs. 3.436 millions c. ICICI and IDBI Regular Income Bonds / growing interest bonds of Rs. 2.365 millions |
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2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit Rs. 12.500 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
a. Term Deposits of company / directors & third parties M. V. Rs. 6.797 millions b. Units of UTI – 64 M.V. Rs. 3.695 millions c. LIC Policies S V Rs. 3.436 millions d. ICICI & IDBI regular income bonds growing interest bonds of R. 2.365 millions |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin : 23% Rate of Interest : As per credit rating M-4 i.e. PLR + 2% i.e. 13.50% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Maharashtra D. G. Branch, Pune – 411004 |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
WEBSITE
DETAILS
The factory was
established in the year 1996 with a built up area of 1800 sq. mtrs. on a land
of 3 acres.
This factory is a state of art company because of the expertise and experience the
promoters have gained during last thirty years of industrious efforts.
The Company manufactures heavy sheet metal body parts for various automobiles.
The company’s capabilities enable it to manufacture imported parts for
automobile and white goods most successfully. The most prestigious of the parts
being manufactured by this company are the heavy sheet metal parts for the
small cars of Tatas, The Indica &
The Indigo.
The company also manufactures parts for LCV and MCV vehicles of Tata Motors
& Ashok Leyland. The company is also supplying components to the GLOBAL
MARKET.
The activities of the company are being expanded at a fast pace to achieve a
stature of important body part maker for TATA Motors, PIAGGIO India & Ashok
Leyland.
Company Profile
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Business Type |
Manufacturer |
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Capital in Rs |
10,10,000 millions |
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Year of
Establishment |
1996 |
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Export Markets |
All over India |
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Production Type |
Wholly Owned |
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Monthly Production
Capacity |
As per demand |
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Product Range |
Ass Frame Parcel
Shelf, D Piller, Tail Gate, Parcel Shelf |
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.17 |
|
UK
Pound |
1 |
Rs.85.24 |
|
Euro |
1 |
Rs.57.89 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry
similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|