MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
AUTO STEEL AND RUBBER INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
C-2-1, Technicians Block, MIDC, Bhosari Industrial Estate,
Pune-411026, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
14.11.1995 |
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Com. Reg. No.: |
94456 |
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CIN No.: [Company
Identification No.] |
U25199MH1995PTC094456 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEA05528F |
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PAN No.: [Permanent
Account No.] |
AABCA4526D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Rubber Products. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
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Maximum Credit Limit : |
USD 38000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track
records. Company’s profitability is under severe pressure. It has some
accumulated losses. Payments are reported as slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions initially. |
LOCATIONS
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Registered/Marketing Office : |
C-2-1, Technicians Block, MIDC, Bhosari Industrial Estate,
Pune-411026, |
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Tel. No.: |
91-20-27127701/ 27127702 |
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Fax No.: |
91-20-27127720 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Daulat T Keswani |
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Designation : |
Director |
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Address : |
A1/A2, Meghmalhar, Raagdari Apartments, Aundh, Pune-411007, |
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Date of Birth/Age : |
02.01.1940 |
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Date of Appointment : |
14.11.1995 |
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Name : |
Ms. Veena D Keswani |
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Designation : |
Director |
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Address : |
A1/A2, Meghmalhar, Raagdari Apartments, Aundh, Pune-411007, |
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Date of Birth/Age : |
30.05.1944 |
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Date of Appointment : |
14.11.1995 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. D T Keswani |
69550 |
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Mrs. Veena D Keswani |
3850 |
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D T Keswani (HUF) |
13850 |
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Ms. Kavita Keswani |
14500 |
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Ms. Renu Keswani |
18500 |
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Ms. Deepa Gupta |
18500 |
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Kishore Rubber Products Private Limited |
1900 |
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Mr. Kishore Keswani |
3150 |
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Preference
Shares : |
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Ms. Kavita Keswani |
1001 |
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Ms. Renu Keswani |
996 |
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Ms. Deepa Keswani |
1010 |
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Mr. Kishore Keswani |
990 |
As on 31.03.2006
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Bodies Corporate |
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1.31 |
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Directors or their relatives |
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85.40 |
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Other top 50 shareholders |
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13.29 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Rubber Products. |
GENERAL INFORMATION
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Financial Institutions : |
v National Small Industries Corporation Limited, Prestige Chambers, Kalyan East, Masjid, Mumbai-400009. v Canbank Factors Limited, No.17, 1st Floor, Babbur Kammnahostel Bauildng, Seshadri Road, Bangalore-560009, Karnataka v United Western Bank Limited, Shivaji Nagar v IDBI Bank v
Shamrao Vitthal Co-op Bank Limited, v Canara Bank v Citi Bank v ICICI Bank limited |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Shah Parekh & Sabani Chartered Accountants |
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Address : |
M-2, II Wing, Thakkar House, 2418, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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175000 |
Equity Shares |
Rs.100/- each |
Rs.17.500 millions |
|
25000 |
Preference Shares |
Rs.100/- each |
Rs.2.500 millions |
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Total |
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Rs.20.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
144500 |
Equity Shares |
Rs.100/-
each |
Rs.14.450
millions |
|
4169 |
Preference Shares |
Rs.100/-
each |
Rs.0.417
millions |
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Total |
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Rs.14.867 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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14.867 |
14.867 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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7.118 |
7.118 |
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4] (Accumulated Losses) |
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(12.351) |
(14.354) |
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NETWORTH |
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9.634 |
7.631 |
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LOAN FUNDS |
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1] Secured Loans |
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10.523 |
10.438 |
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2] Unsecured Loans |
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23.962 |
26.575 |
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TOTAL BORROWING |
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34.485 |
37.013 |
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DEFERRED TAX LIABILITIES |
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33.353 |
30.024 |
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TOTAL |
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77.472 |
74.668 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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15.654 |
15.102 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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3.054 |
3.052 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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11.939 |
17.130 |
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Sundry Debtors |
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42.600 |
33.857 |
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Cash & Bank Balances |
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0.608 |
2.902 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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3.617 |
2.625 |
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Total
Current Assets |
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58.764 |
56.514 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.000 |
0.000 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.000 |
0.000 |
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Net Current Assets |
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58.764 |
56.514 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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77.472 |
74.668 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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136.861 |
115.749 |
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Other Income |
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0.094 |
0.167 |
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Total Income |
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136.955 |
115.916 |
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Profit/(Loss) Before Tax |
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2.003 |
0.957 |
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Provision for Taxation |
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0.000 |
0.013 |
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Profit/(Loss) After Tax |
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2.003 |
0.944 |
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Earnings in Foreign Currency : |
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Export Earnings |
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Commission Earnings |
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27.725 |
21.990 |
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Other Earnings |
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Total Earnings |
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Imports : |
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Raw Materials |
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2.158 |
7.633 |
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Stores & Spares |
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Capital Goods |
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Others |
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Total Imports |
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Expenditures : |
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Manufacturing Expenses |
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39.533 |
32.914 |
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Raw Material Consumed |
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77.071 |
59.161 |
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Financial Expenses |
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4.200 |
4.042 |
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Depreciation & Amortization |
|
4.404 |
3.919 |
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Other Expenditure |
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5.908 |
15.648 |
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Total Expenditure |
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131.116 |
115.684 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.46 |
0.81 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.46 |
0.82 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.69 |
1.33 |
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Return on Investment (ROI) (PBT/Networth) |
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0.20 |
0.12 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.58 |
4.85 |
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Current Ratio (Current Asset/Current Liability) |
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0.00 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for
creation or modification of charges
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Name of the company |
AUTOSTEEL AND
RUBBER INDUSTRIES PRIVATE LIMITED |
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Presented By |
Mr. Daulat T Keswani |
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1) Date and description of instrument creating the change |
16.06.1999. Deed of hypothecation |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.4.909 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 |
Klockner Windsor Make Rubber Injection Mould Machine |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Purchase of new DNC machine with Rs.8.529 millions as lease for a period of 60 months. |
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5) Name and Address and description of the person entitled to the charge. |
National Small Industries Corporation Limited Prestige Chambers, Kalyan East, Masjid, Mumbai-400009. |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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Corporation identity number or foreign company registrations number of the company |
U25199MH1995PTC094456 |
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Name of the company |
AUTO STEEL AND RUBBER INDUSTRIES PRIVATE LIMITED |
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Address |
C-2-1, Technicians Block, MIDC, Bhosari Industrial Estate,
Pune-411026, |
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This Form is for |
Modification of charge |
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Type of Charges |
Repayment facility supplemental agreement |
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Particular of the charge holder |
Canbank Factors Limited No.17, 1st Floor, Babbur Kammnahostel Bauildng, |
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Date of the instrument creating charge |
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Amount Secure by the charge |
Rs.11.500 millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
Margin 25% Discount 10.55% Service Charge 0.25% |
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Description of the property charge whether it is a charge on |
Immovable properties Plant and machinery |
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Modification charge Charge identification number of the charge to be modified |
80004979 |
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Particulars of the Property charged |
Land building and machinery |
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Brief description of the instrument modifying the charge |
Factoring (Supplementary) Agreement |
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Particulars of the present modification |
Increase the payment limit from 11.500 millions to 20.000 millions |
Website Details:
Subject is an QS9000/ ISO 9002 registered company
manufacturing rubber products to
customers' specifications. They started production in 1966 and since then are
commited to the manufacture of high quality
rubber components. This year they are proud recipients of the Mahratta Chamber of Commerce Industries and
Agriculture,
Tata Honeywell Quality Award.
Their strength has always rested on the following four
pillars :
Research and Development
Engineering
Quality Control
Marketing
The products
manufactured by them find their usage in different industries such as :
Aircraft
Naval
Space Research
Ordnance
Railway
Power house
Automobile
Heavy vehicles
Light commercial vehicle
Passenger car
Dairy
Engineering
Cement
Electrical/Electronic
Food
Chemical
Mining
Textile
Pharmaceutical
Their customers include some of the best known names among
the country's manufacturing industry. This speaks about their achievements in
quality, engineering excellence and concern for supplying the customers'
requirements on time.
Though their country's economy has shown signs of recession
between 1996 and 2002, their company has managed to retain the sales volumes
and are now poised to grow in a healthy way in this new millennium.
Location
They are located at Pune
in its major industrial area known as Bhosari.
Pune is the cultural
capital of the State of
Pune is well served by a variety of transportation systems.
It can be reached by Air, Road (
Different types of Hotels are available in Pune; ranging
from 5 Star to the economical ones. Accommodation in these is not difficult to
find. However, a prior reservation is advisable.
Pune has a moderate climate throughout the year excepting
the summer months of April, May and October. The minimum temperature in winter is
about 5°c and maximum during summer about 35°c.
The population of Pune is quite literate and English is spoken and understood
widely.
The names include :
Tata
Engineering and Locomotive Company Limited
Whirlpool of
India Limited.
Philips India
Limited.
Kirloskar Group
of Companies.
Alfa Laval
Limited.
Sandvik Asia Limited.
SKF Bearings
India Limited.
Fiat India
Limited.
G.E. Elpro
Medical Systems Limited
Bajaj Auto
Limited.
Bajaj Tempo
Limited.
Greaves Limited
Kinetic Group
Organisation
They are headed by a team of
engineers, technologists and chemists. Each of the senior staff member is
specialised in his line of profession.
Given below is a profile of their seniour Managers and
Directors.
Chief Executive Officer : Mr. D. T. Keswani
B.E.(Mechanical) with honours, J.D., Cert. C.E. and P.
Mr.
Keswani has been heading Auto Steel and Rubber Industries Private
Limited since its set up / inception and is recognized as one of the leading
Rubber Technologists in the nation. He is widely travelled and also plays the
role of Consultant. He has been a guiding force to users of rubber products by
upgrading the technology to improve the final equipment thereby increasing its
life. He was Chairman of All India Rubber Industries Association, Pune Chapter
from 1998 till 2001,and is currently Chairman of the AIRIA, Western Region.
Mr. D.T. Keswani has been associated with various Chambers of Commerce for over
25 years. He was President of Pimpri Chinchwad Manufacturers' Association for
six years.
He is currently connected with a number of industrial associations, social and
religious associations.
Factory Manager : Mr. P. K. Khurjekar
D.M.E., D.E.E.
Mr. Khurjekar started his career with Swastik Rubber Products Limited in
the moulds manufacturing division, which are used for moulded rubber products.
He joined them in the year 1980 and has developed more than 10,000 moulds for
their rubber products. Mr. P. K. Khurjekar has been their Factory Manager, he
is also their Quality Management Representative and is one of the key
persons of their organisation.
Production Manager : Mr. A. D. Karmarkar
B.Sc.
Mr. Karmarkar was working with Swastik Rubber Products as a Chemist
before joining them in 1981. As a Production Manager his achievement consists
of formulating hundreds of compounds to fulfill customers' requirements. Mr.
Karmarkar is taking keen interest in Research and Development. He is their
Joint Quality Management Representative and cornerstone of their
organization,
Manager, Systems : Mr. Amarjeet Singh
D.M.E.
Mr.Singh was working with India's renowned 'Telco' for 40 years before
joining them in the year 1997.Mr. Singh has undergone various training
programmes in India as well as abroad.Their ISO-25-9000 systems are kept in
place mainly by his efforts and he is in charge of the mission 'Vision 2000'.
Manager Hose Division : Mr. V. K. Thorat
M.Sc. (Chemistry).
Mr. Thorat started his career as Professor in Chemistry. He has also
worked in various factories as rubber technologist before joining them in 1994.
In ASRI, he has worked in Moulding Department. At present, he is in
charge of Hose Manufacturing Division. He has developed more than 1000
different type of hoses for various diversified applications.
Import - Export / Trading Division : Mr. K M Bhojwani.
Mr. Bhojwani has worked in various capacities in
MS. Renu Keswani. MIS Administration.
B. C. S.
Ms.Renu Keswani is a computer science graduate in charge of MIS administration.
Currently she and her team are in the process of implementing an ERP, a
software they have developed which will satisfy the total computing needs of
the company including Manufacturing, Production, Inventory, Sales and others.
Ms. Kaveeta Keswaani : Director, Marketing.
B. A. German Hons.
Has won a scholarship to study German at Goethe Institute.
Background includes - Public relations, Technical and
commercial translations and interpretation.
She has conducted successful workshops for Colleges, Corporate as well as
several open workshops which included Communication skills and Stress
management as subjects.
At present responsible for creating management strategies for Auto Steel and
Rubber Industries Private Limited, increasing and maintaining specified client
base in the company, with an interest in overall management and systems.
Kishore Keswani : Manager Exports.
Bachelors of Science in Industrial Engineering.
He has done his undergraduate Degree – Bachelors of Science in
Industrial Engineering from
Since then, ASRI has started exports to
Human Resources Development :
They believe in human resource development through proper
motivation of their man-power. Periodical training programmes are organised and
the employees are also encouraged to take part in various seminars connected
with their field of activity. This is in keeping with the aim of the company to
maximise customer satisfaction. Correspondingly, the customers have always been
giving them the feedback of their satisfaction when they interact with their
staff members.
Marketing, R&D
Marketing/ Sales/ Customer Relation
On receipt of enquiries from customers, a study is made of
the required items by their engineers and chemists and a feasibility report is
prepared by them. This takes into account their manufacturing capability
vis-a-vis the requirements of the customers.
This is submitted to the customers by way of a quotation and
on its acceptance pilot samples are produced from the pilot moulds. Any
modifications required by the customers at this stage are incorporated in the
production moulds. A stringent 'first part approval' system is in place before
bulk production is planned.
Only when the product passes this FPA system, the product is
taken up for production on a mass scale. This ensures total customer
satisfaction. This has resulted in the growing list of their satisfied
customers.
Research and Development
Their research and development effort are well known. They
are known for their Research and Development efforts and have the privilege of
having manufactured more new products than any other rubber products manufacturing
company in their country. They have had the priviledge of using more new
polymers and elastomers as and when these are discovered and invented anywhere
in the world.
They have the benefit of being associated with the leading laboratories all over
the world and use their knowledge in developing new products. This is also the
result of their attending various exhibitions and seminars the world over.
Their own laboratory conducts experiments, day after day for
updating the products being manufactured in the factory. The products are
tested to international standards such as ASTM, SAE, BIS, BS, SMS, JIS, DIN
etc.
Many of their clients approach them for developing new products for their
latest manufacturing programmes. With the active interaction of such customers,
they are pleased a everranging variety of new products.
Future plans
They are looking forward ahead in this millennium with
confidence. They are sure that they shall maintain sustained growth in their production
and sales. They are also planning to enter the exports market. While doing all
the above, they shall be keen to maintain their operations environment
friendly, and simultaneously they shall maintain their obligation to the
society at large.
Products
Their full range of products is as follows :
|
'O' rings from 1 mm Dia to 1000
mm Dia. |
Seals |
Bushings |
Buffers |
|
Extrudates
|
Grommets. |
Anti – Vibration Mountings. |
Engine hoses.
|
|
Gaskets
|
Tubings. |
Fuel hoses.
|
Steering Boots.
|
|
Radiator hoses. |
Turbo hoses. |
Washers. |
Suction Hoses |
|
Rubber Footings |
|
|
Mountings |
They manufacture their products from a variety of elastomers
and polymers which include :
|
Natural |
SBR |
TPE's |
LDPE |
|
Nitrile |
Butyl |
Polyacrylic |
Polypropylene |
|
Polychloroprene |
Silicones |
Nylon |
Chloro-Sulphonated |
|
EPDM |
Fluoro-elastomers |
HDPE |
PVC |
'O' Rings
They manufacture 'O' rings to various standards such as BIS,
DIN, JIS, SMS and BS etc. 'O' rings are widely used in sealing to stop leakage.
They may be used in static as well as dynamic conditions. They have been making
'O' rings since 1966 in variety of sizes and batches from different elastomers
'O' Rings :
O' rings play a vital role in making the equipment, in which these are used,
leak proof.
O' rings are engineered from a variety of elastomers for different
applications. Some of the critical application are viz. Cylinder-liner rings
for diesel engines and sealing systems in aircraft engines. 'O' rings can be
designed for both static as well as dynamic applications. ASRI has the
facilities to design an 'O' ring as also to manufacture it in bulk as per
customers' specifications.
The following parameters are
required to select the right material for the 'O' ring as also to determine its
correct size.
1. Fluid to be sealed.
2. Nature of application.
3. Lubricant used.
4. Working temperature.
5. Minimum and maximum and working fluid pressure.
6. Speed of shaft or frequency of reciprocating parts.
7. Type of finish on metal parts.
Anti – Vibration Mountings
Anti - Vibration Mountings are
used extensively to minimise the shocks due to a moving vehicle or vibrations
of an engine. This adds to the comfort of the passengers in cars as well as
safety of various assemblies and sub-assemblies in various equipments. Here
bond-strength is necessarily developed between the rubber and metal. The rubber
in the mountings acts as a cushion to absorb the shocks.
Hoses
They make variety of rubber
hoses for engines and radiators. Rubber hoses play a vital role in conducting
fluids from one part of an equipment to another without causing any damage to
the surroundings. Since they are flexible, they absorb the shocks emanating
from engines and equipments operating in dynamic conditions. Hoses find wide
application in automobiles and diesel engines. Their specialization is in the
field of making silicone hoses along with other types of hoses.
Silicone hoses
Silicone hoses are used in critical applications where
fluids could be either very hot or very cold. Silicone is the best known air
resistant material. Silicone hoses normally require glass-fibre textile for
reinforcement.
Customers
A man is known by the company he keeps and they have some of
the finest names in the industry as their customers.
Here
are few of their satisfied customers and their line of busines :
|
Company |
Business |
|
Atlas Copco ( |
Air Compressors. |
|
Alfa Laval Limited |
Dairy Equipments and Machinery. |
|
Aditya Appliances Private Limited |
Domestic Appliances. |
|
Bharat Earth Movers Limited |
Engines |
|
Bharat Forge Co. Limited |
Steel Forgings. |
|
Bharat Electronics Limited |
Electronic equipments. |
|
Central |
Testing of Surface Transport equipment. |
|
Crompton Greaves Limited
|
Electrical and Electronic equipments. |
|
Deccan Carbon Products Private
Limited |
Carbon Products. |
|
Drillco Hertal Limited
|
Carbide Tools & Rock Drilling Equipments. |
|
Elpro International Limited |
Lightening Arrestors. |
|
G.E. Elpro Medical Systems |
Medical Equipments. |
|
Ghatge Patil Industries Limited |
Machine & Equipment Maintenance & Automobile
components. |
|
Greaves Limited |
Diesel Engines, Automobiles. |
|
J.K.Group of Industries.
|
Tools. |
|
Kirloskar Group of Industries. |
Diesel Engines, Tractor Engines, Gensets. |
|
Kishore Pumps Private Limited
|
Pumps. |
|
Mahindra group of Industries. |
Automobiles. |
|
|
Electrical Installations. |
|
Ordnance Factories |
Defence Equipments. |
|
Philips India Limited
|
Electronics and Domestic Appliances. |
|
Finolex group of Industries. |
PVC pipes, PVC granules and cables. |
|
Hindustan Antibiotics Limited
|
Pharmaceuticals. |
|
ISRO Satellite Centre. |
Scientific Research Equipments. |
|
Sab Wabco India Limited |
Railway Equipment |
|
Tata Engineering and Locomotive Company
Limited |
Heavy, Medium and light duty vehicles and passenger cars. |
|
U P State Bridge Corporation Limited |
Bridges. |
|
Videocon International Limited |
Electronic and Home Appliances. |
|
Warstsila Diesel (I)
Limited |
Heavy duty diesel engine and Gensets. |
|
Whirlpool of India Limited |
Domestic Appliances. |
|
Z.F.Steering Gears ( |
Power Steering Gear Box. |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.66 |
|
|
1 |
Rs.81.70 |
|
Euro |
1 |
Rs.55.05 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
|
TOTAL |
|
31 |
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 |
|