MIRA INFORM REPORT
|
Report Date : |
15.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
RSB
TRANSMISSIONS [ |
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Registered Office : |
Gat
No. 908, Sanaswadi, Taluka Shirur, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
24.01.1989 |
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Com. Reg. No.: |
25-14807 |
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CIN No.: [Company Identification No.] |
L34102PN1989PLC014807
/ U00374JH1989PLC003264 |
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TAN No.: [Tax Deduction & Collection Account
No.] |
RCHR00276D |
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PAN No.: [Permanent Account No.] |
AABCR3925R |
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Legal Form : |
Closely
Held Public Limited Liability Company |
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Line of Business : |
Manufacturers
of Propeller Shafts, Gears & Shafts and Live Axles. |
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
1500000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having fine track. Directors are reported as experienced,
respectable and resourceful industrialists.
Their trade relations are fair.
Financial position is good. Payments
are correct and as per commitments. The
company can be considered good for any normal business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office/Factory : |
Gat No.
908/913 [P], Sanaswadi, Taluka Shirur, Pune Nagar Road, Pune – 412208,
Maharashtra, India |
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Tel. No.: |
91-20-2669200
91-2137-566067
/ 566066 |
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Fax No.: |
91-2137-566066
/ 566995 91-20-2669200 |
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E-Mail : |
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Website : |
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Area : |
463160
sq. ft. |
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Location : |
Owned |
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Factory
2 : |
NS 25,
Phase VI, Industrial Area, Gamharia District, Saraikella Kharswan, |
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Tel.
No.: |
91-657-2200441
/ 22200663 |
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Fax
No.: |
91-657-2200751 |
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Branches
: |
2nd
floor, Nyati Millennium, Viman Nagar, Pune : 411014, |
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Tel.
No.: |
91-20-56024844/45 |
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Fax
No.: |
91-20-26630411 |
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E-Mail
: |
DIRECTORS
|
Name : |
Mr.
Rabindra Kumar Behera |
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Designation : |
Chairman
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Address : |
Bunglow
No. 132, Clover Hills, |
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Date of Birth/Age : |
55
years |
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Qualification : |
B. E.
[Mechanical] |
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Experience : |
28
years |
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Date of Appointment : |
06.12.2004 |
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Name : |
Mr.
Suvendra Kumar Behera |
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Designation : |
Managing
Director |
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Address : |
C –
39, |
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Date of Birth/Age : |
49
years |
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Qualification : |
B. Com |
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Date of Appointment : |
25.06.2004 |
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Experience : |
26
years |
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Name : |
Mr.
Sailendra Kumar Behera |
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Designation : |
Director
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Address : |
Bunglow
No. 48, Clover Hills, |
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Date of Birth/Age : |
43
years |
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Qualification : |
B. E.
[Mechanical] |
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Date of Appointment : |
01.04.2004 |
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Experience : |
17
years |
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Name : |
Mr.
Dwijadas Sanyal |
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Designation : |
Director
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Address : |
Flat
No. 4, |
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Date of Birth/Age : |
67
years |
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Date of Appointment : |
15.04.2003 |
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Experience : |
38
years |
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Qualification : |
B. E.
[Mechanical] |
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Name : |
Mr.
Mannakkal V. Subaraman |
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Designation : |
Director
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Address : |
2-A,
Ramaniyam Sampoorna, 167, Kalki, Krishnamurty Salai, Tiruvanmiyur, Chennai –
600041, |
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Date of Birth/Age : |
61
years |
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Date of Appointment : |
22.03.2004 |
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Qualification : |
M. Com |
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Name
: |
Mr.
Kartik C. Majumdar |
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Designation
: |
Director
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Address
: |
59/2B,
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Date
of Birth/Age : |
78
years |
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Date
of Appointment : |
16.08.1995 |
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Experience : |
35
years |
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Qualification : |
B. E.
[Mechanical] |
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Name
: |
Mr.
Ashok Satpathy |
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Designation
: |
Director
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Address
: |
Opposite
Ashiana Trade Centre, Adityapur, |
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Date
of Birth/Age : |
13.11.1937 |
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Date
of Appointment : |
29.09.2004 |
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Name
: |
Mr.
Rasomay Chakraborty |
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Designation
: |
Director
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Address
: |
F. No.
5, 2nd Floor, Wing A1, Building II, Near |
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Date
of Birth/Age : |
62
years |
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Date
of Appointment : |
06.12.2004 |
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Experience : |
39
years |
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Qualification : |
B. E.
[Mechanical] and CWA |
KEY
EXECUTIVES
|
Name
: |
Mr.
Santanu Dash |
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Designation
: |
Secretary
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Address
: |
102, |
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Date
of Birth/Age : |
16.05.1969 |
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Date
of Appointment : |
01.06.2004 |
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Name
: |
Mr.
Bijay K. Lenka |
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Designation
: |
Secretary
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Address
: |
Flat No.
C – 604, Nivedita Terrace, Wanawadi, Pune – 411040, |
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Date
of Birth/Age : |
27.05.1967 |
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Date
of Appointment : |
01.06.2005 |
MAJOR
SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr. R.
K. Behera |
508052 |
7.13 |
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Mr. S.
K. Behera |
429382 |
6.03 |
|
Mr.
Sailendra Kumar Behera |
311947 |
4.38 |
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Mr.
Papia Behera |
20587 |
0.29 |
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Ms.
Urmila Behera |
838063 |
11.76 |
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Ms.
Nalini Behera |
22320 |
0.31 |
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Ms.
Padmavati Devi |
21995 |
0.31 |
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Mr.
Gyanendra Kumar Behera |
19936 |
0.28 |
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Mr.
Narendra Kumar Behera |
20153 |
0.28 |
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Mr.
Brahmbar Behera |
20153 |
0.28 |
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Ms.
Soumendra Kumar Behera |
15602 |
0.22 |
|
Jal
Ventures Private Limited |
810334 |
11.38 |
|
Ms.
Sangita Behera |
820076 |
11.51 |
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Mr.
Nishant Behera |
3467 |
0.05 |
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Mr.
Rajnikant Behera |
3467 |
0.05 |
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Ms.
Nirmala Behera |
8668 |
0.12 |
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Mr.
Ratikant Behera |
3467 |
0.05 |
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Mr.
Rituraj Behera |
3467 |
0.05 |
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Mr.
Sarthak Behera |
8668 |
0.12 |
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Ial Investments
Private Limited |
114519 |
1.61 |
|
Ial
Technologies Limited |
2369123 |
33.26 |
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Industrial
Development Bank of |
750000 |
10.53 |
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TOTAL |
7123446 |
100.00 |
BUSINESS
DETAILS
|
Line of Business : |
Manufacturers
of Propeller Shafts, Gears, Assembly Stur Axle with Bush, Front Axle Beam,
Assembly Front Axle, Cylinder Head, Carrier Rocker Arm & Shafts and Live Axles. |
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Products : |
ˇ
Propeller
Shafts ˇ
Gears & Shafts ˇ
Machined Castings & Forgings ˇ
Live Axles
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Imports from : |
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Terms : |
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Selling : |
Credit
[45 days] |
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Purchasing : |
Credit
[45 days] |
GENERAL INFORMATION
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Customers : |
OEM’s TATA
Motors Cummins John
Deere Mahindra Fiat Concentric |
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No. of Employees : |
613 |
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Bankers : |
Industrial
Development Bank of State
Bank of State
Bank of Travancore |
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Facilities : |
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Banking Relations : |
Good |
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Auditors : |
Sharp
& Tannan Associates Chartered
Accountants, 802,
Lloys Chambers, Dr. Ambedkar Road, Opposite Ambedkar Bhavan, Pune – 411011,
Maharashtra, India |
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E-Mail : |
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Associates : |
IAL
Ventures Private Limited IAL Investment
Private Limited IAL
Technologies Limited 3rd
Floor, Gama 1, Gega Space IT – Park, Viman Nagar, Pune – 411014, Maharashtra,
India Tel.
No. : 91-20-56454300 Fax
No. : 91-20-66454444 IAL
Construction & Agri Equipment Private Limited Plot
No. 184, Belur Industrial Area, Dharwad – 588011 Tel.
No. : 91-836-2486037 Fax
No. : 91-836-2486037 I –
Design Pune
Trade Centre, 237/1 Kandhave Nagar, Nagar Road, Near Sai Satyam Park, Wagoli,
Pune – 14 International
Auto Limited Nyati
Millennium, 2nd Floor, Viman Nagar, Pune – 411 014, Tel.
No. : 91-20-56024844 / 45 Fax
No. : 91-20-26630411 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
17000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 170.000 millions |
|
3000000 |
Preference
Shares |
Rs. 10/- each |
Rs. 30.000 millions |
|
|
TOTAL |
|
Rs. 200.000
millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
13067400 |
Equity
Shares |
Rs. 10/- each |
Rs. 130.674 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
130.674 |
71.234 |
56.734 |
|
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2] Reserves & Surplus |
275.386 |
100.257 |
76.686 |
|
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NETWORTH |
406.060 |
171.491 |
133.420 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
449.216 |
462.248 |
298.722 |
|
|
2] Unsecured Loans |
50.996 |
41.050 |
47.889 |
|
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TOTAL BORROWING |
500.212 |
503.298 |
346.611 |
|
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DEFERRED TAX LIABILITIES |
53.064 |
40.436 |
22.361 |
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TOTAL |
959.336 |
715.225 |
502.392 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
665.202 |
535.324 |
364.634 |
|
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Capital work-in-progress |
37.511 |
39.760 |
23.971 |
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INVESTMENT |
9.493 |
1.082 |
0.106 |
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
185.899
|
161.102 |
142.296 |
|
|
Sundry Debtors |
199.312
|
78.302 |
72.288 |
|
|
Cash & Bank Balances |
55.964
|
6.721 |
8.506 |
|
|
Loans & Advances |
217.073
|
70.416 |
25.962 |
|
Total Current Assets |
658.248
|
316.541 |
249.052 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities & Provisions |
418.794
|
187.861 |
159.806 |
|
Total Current Liabilities |
418.794
|
187.861 |
159.806 |
|
|
Net Current Assets |
239.454
|
128.680 |
89.246 |
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
7.676 |
10.379 |
24.435 |
|
|
|
|
|
|
|
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TOTAL |
959.336 |
715.225 |
502.392 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other
income] |
1588.540 |
1208.006 |
816.916 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
60.657 |
58.545 |
38.283 |
|
Provision
for Taxation |
20.120 |
22.675 |
16.496 |
|
Profit/(Loss)
After Tax |
40.537 |
35.870 |
21.787 |
|
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Export
Value |
N.A. |
9.578 |
3.279 |
|
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|
|
|
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Import
Value |
N.A. |
62.609 |
5.441 |
|
|
|
|
|
|
Total
Expenditure |
1527.883 |
1149.460 |
778.633 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
2.55
|
2.96 |
2.66 |
|
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|
|
Net
Profit Margin (PBT/Sales) |
(%) |
3.81
|
4.84 |
4.68 |
|
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|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
4.58
|
6.87 |
6.23 |
|
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|
Return
on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.34 |
0.28 |
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|
Debt
Equity Ratio (Total
Liability/Networth) |
|
2.26
|
4.03 |
3.79 |
|
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|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
1.57
|
1.68 |
1.55 |
LOCAL AGENCY FURTHER INFORMATION
INDUSTRY OUTLOOK & BUSINESS OVERVIEW
During
the year under report, the Indian manufacturing sector grew at a rate of 8.8%
while the automobile sector grew at a higher rate of 17%. The automobile sector has continued to grow
for the third consecutive year.
Competitive finance costs, replacement demand, increased freight demand
have contributed to higher demand for commercial vehicles. Mining activities in the Eastern region, road
development programme and better operating efficiencies have contributed to the
growth of demand for HCVs. The passenger
vehicles segment comprising cars, buses and three wheelers [other than two
wheelers] have registered a growth rate of 23% during the year under
report. These have also benefited the
auto component industry by way of higher off take of various auto
components. Many multinational auto
industry players are likely to source auto components from
The company
is capitalizing on the available opportunities and has registered sales growth
of 48% during financial year 2004-05 as compared to the previous year. The growth of the company implies that their
valued customers namely, TATA Motors, Tata Cummins, L & T John Deere,
Concentric, Dynamatics, Lombardini, International Engines and Klein have
continued faith in their quality and capabilities, cost competitiveness and
commitment. The company continues to put
efforts for broad basing the customer base.
The
directors are confident that the company would continue to improve its
performance in the coming years by various strategies such as cost reduction,
tapping new customers in the domestic and export market, as well as balancing
the share of turnover between CV and PV segment besides augmenting exports.
ONGOING PROJECTS
In order
to achieve backward integration, the company has taken up two projects for
implementation during the current financial year 2005-06. On completion of these two projects, the company
would have in-house facilities for making forgings and cross and bearing
cup. Such backward integration will
facilitate cost reduction as well as control on quality besides giving the
company leeway in maintaining its delivery schedules. Simultaneously, for catering to the increased
demand from their existing domestic as well as export customers. The company has also taken up CAPEX programme
which will enhance the installed capacity of propeller shaft, carrier rocker
arm and cub-axle. These project are
expected to be completed during the current financial year 2005-2006.
FUTURE PLANS
There
are immense growth opportunities for well-managed auto-ancillary units. In order to capitalize on various
opportunities which the local and global markets offer, the company has to
scale up the level of operations to much higher level gradually. Keeping this in view, the company would be
coming out with a public issue soon. Prior to that, the company proposes to
merge the group companies International Auto Limited and it’s subsidiary IAL-CL
with RSBTIL. I-Design would also be made
as a subsidiary of the merged entity.
Steps have been already initiated for the merger process and after completion
of the various statutory formalities for the merger, then the new company would
approach the capital market. This
approach has been decided after detailed deliberations by weighing various pros
and cons and keeping in view the requirement of attaining rapid growth by
organic as well inorganic means.
It is in
trade terms with :
ˇ
Archana Enterprise
ˇ
Cordoba Engineering Private Limited
ˇ
Highco Engineering Private Limited
ˇ
Pritam Automech Private Limited
ˇ
Jamshedpur Sheetmetal Private Limited
ˇ
Kross Manufacturing India Private Limited
ˇ
Magadh Engineering Works
ˇ
Nutech Auto Limited
ˇ
Alcalab Private Limited
ˇ
Tuff Seals Private Limited
ˇ
Yogi Machining & Forgings Private Limited
ˇ
Solar Automotive Engineering Company
ˇ
Yogi Engineering Private Limited
ˇ
Omga Automotive
ˇ
Paul & Company
ˇ
Thermotouch Enterprises
ˇ
Navnath Engineering Works
ˇ
Laxmi Shanker Enterprises
ˇ
Jade Industries
ˇ
Vatal Enterprises
Fixed
Assets
ˇ
Land & Land Development
ˇ
ˇ
Plant & Machinery
ˇ
Tools & Dies
ˇ
Electrical Installations
ˇ
Furniture & Fixtures
ˇ
Office Equipments
ˇ
Motor Vehicle & Van
ˇ
Computer & Electronics
ˇ
Material Handling Equipments
ˇ
Diesel Generator
ˇ
Air Conditioner
ˇ
Laboratory Equipment
FORM 8
|
Name of the company |
RSB TRANSMISSIONS [ |
|
Presented
By |
MR.
R. K. BEHERA, Chairman |
|
1) Date and description of instrument creating
the change |
1. Agreement of hypothecation of goods and assets
dated 04.11.2004 2. Agreement of loan for overall limit dated
04.11.2004 3. Stamped Acceptance Letter dated 04.11.2004 |
|
2) Amount secured by the charge/amount owing on
the securities of charge |
Fund Based Limits [FBL] : DCC/EPC : Rs. 120 millions Term Loan [New] : Rs. 100 millions TOTAL FBL [A] : Rs. 220 millions Non – Fund Based Limits [NFBL] : Letter of Credit : Rs. 20 millions Bank Guarantee : Rs. 12.500 millions TOTAL NFBL [B] : Rs. 32.500 millions One time LC – Rs. 60 millions [Linked with Term
Loan [New]] Total overall fund based & non-fund based
limit [A+B] is Rs. 252.500 millions only. |
|
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 |
Particulars of property charged for : Demand Cash Credit [DCC] Limit Rs. 120 millions Hypothecation of stock and book debts collateral
: 1. 2nd charge on the entire fixed
assets [existing & future] of the company [Estimated WDV as on 31.03.2005
Rs. 576 millions. Less : Outstandings TL’s + proposed TL’s first charge for
Rs. 403.100 millions. Residual value Rs. 172.900 millions 2. Equitable mortgage of plot A – 092, S. No.
235/A, Lohegaon owned by Mr. R. K. Behera, plot no. 50, S. No. 304 & 305,
Wagholi owned by Mr. R. K. Behera and plot no. 64, S. No. 304 & 305,
Wagholi, owned by Mr. S. K. Behera A] Personal Guarantee of : 1. Shri S. K. Behera 2. Shri R. K. Behera 3. Smt. Nalini Behera 4. Shri. Sailendra Behera B] Corporate Guarantee of : 1. IAL Ventures Private Limited 2. International Auto Limited Letter of Credit – Limit Rs. 20 millions Hypothecation of stock and book debts. Collateral : 1. 2nd charge on the entire fixed
assets [existing & future of the company. [Exstimated WDV as on
31.03.2005 Rs. 576 millions Less : Outstanding TL’s + proposed TL’s first
charge for Rs. 403.100 millions. Residual value Rs. 172.900 millions 2. Equitable mortgage of plot A – 092, S. No.
235/A, Lohegaon owned by Mr. R. K. Behera, plot no. 50, S. No. 304 & 305,
Wagholi owned by Mr. R. K. Behera and plot no. 64, s. no. 304 & 305,
Wagholi, owned by Mr. S. K. Behera A] Personal Guarantee of : 1. Shri S. K. Behera 2. Shri R. K. Behera 3. Smt. Nalini Behera 4. Shri Sailendra Behera B] Corporate Guarantee of : 1. IAL Ventures Private Limited 2. International Auto Limited Bank Guarantee – Limit Rs. 12.500 millions Security : Primary : Hypothecation of Stock and Book Debts Collateral : 1. 2nd charge on the entire fixed
assets [existing & future] of the company [Estimated WDV as on 31.03.2005
Rs. 576 millions Less : Outstanding TL’s + proposed TL’s first charge for Rs.
403.100 millions. Residual value Rs.
172.900 millions] 2. Equitable mortgage of plot A – 092, S. No.
235/A, Lohegaon owned by Mr. R. K. Behera, Plot no. 50, S. No. 304 & 305,
Wagholi owned by Mr. R. K. Behera and Plot No. 64, S. No. 304 & 305,
Wagholi owned by Mr. S. K. Behera A] Personal Guarantee of : 1. Shri S. K. Behera 2. Shri R. K. Behera 3. Smt. Nalini Behera 4. Shri Sailendra Behera B] Corporate Guarantee of : 1. IAL Ventures Private Limited 2. International Auto Limited Term Loan – Limit Rs. 100 millions Security Primary. Hypothecation of assets acquired / to be acquired
out of Bank finance. Collateral : 1. Pari-passu charge on the existing fixed assets
at 2. Equitable mortgage of plot A- 092, S. No.
235/A, Lohegaon owned by Mr. R. K. Behera, plot no. 50, S. No. 50, S. No. 304
& 305, Wagholi owned by Mr. R. K. and plot no. 64, S. No. 304 7 305,
Wagholi owned by Mr. S. K. Behera A] Personal Guarantee of : 1. Shri S. K. Behera 2. Shri R. K. Behera 3. Smt. Nalini Behera 4. Shri Sailendra Behera B] Corporate Guarantee of : 1. IAL Ventures Private Limited 2. International Auto Limit One time LC – Rs. 60 millions [Linked with Term
Loan [New]] for import of capital goods and to be paid out of them loan and
margin] Security : Primary : Hypothecation of Stock and Book Debts Collateral : 1. 2nd charge on the entire fixed
assets [existing & future] of the company. [Exstimated WDV as on
31.03.2005 Rs. 576 millions. Less : Outstanding TL’s + proposed TL’s first
charge for Rs. 403.100 millions. Residual value Rs. 172.900 millions 2. Equitable mortgage of plot A – 092, S. No.
235/A, Lohegaon owned by Mr. R. K. Behera, plot no. 50, S. No. 304 & 305,
Wagholi owned by Mr. R. K. Behera and plot no. 64, S. No. 304 & 305,
Wagholi owned by Mr. S. K. Behera A] Personal Guarantee of : 1. Shri S. K. Behera 2. Shri R. K. Behera 3. Smt. Nalini Behera 4. Shri Sailendra Behera B] Corporate Guarantee of : 1. IAL Ventures Private Limited 2. International Auto Limited |
|
4) Gist of the terms and conditions and extent
and operation of the charge. |
1. Rate of
Interest : 0.75% above SBAR, present effective rate 11% p.a. with monthly
rest, for Demand Cash Credit [DCC], Term Loan [TL] 2. Rate of
Commission will be the Standard Rate of Bank for Letter of Credit and Bank
Guarantee Limit 3. Period of
Advance for Demand Cash Credit, Letter of Credit [LC] for Rs. 20 millions
limit and Bank Guarantee : 12 months, another limit
of Rs. 60 millions LC against TL will one Time 4. Repayment
schedule of Term Loan will start from October, 2005 and to be repaid in 60
instalments of Rs. 1.667 millions each |
|
5) Name and Address and description of the person
entitled to the charge. |
State Bank of Industrial
Finance Branch, Tara Chambers, Wakdewadi, Pune – |
|
6) Date and
brief description of instrument modifying the charge |
Not Applicable |
|
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 |
|
Name of the company |
RSB TRANSMISSIONS [ |
|
Presented
By |
Mr.
Anand Budhia |
|
1) Date and description of instrument creating
the change |
Agreement of Hypothecation dt. 29.10.2001 |
|
2) Amount secured by the charge/amount owing on
the securities of charge |
Working Capital Loan from Bank of India of Rs.
67.500 millions [both fund based & non fund based] |
|
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 |
All tangible movable assets present & there
including all stock of raw materials, semi finished goods, finished goods
such as gears, shafts, gear box, components including book debts outstanding
money receivables where so ever situated at Pune & Jamshedpur |
|
4) Gist of the terms and conditions and extent
and operation of the charge. |
Rate of Interest
: BOIPLR + 4% Min 16% p.a. Repayable : On
Demand |
|
5) Name and Address and description of the person
entitled to the charge. |
Bank of |
|
6) Date
and brief description of instrument modifying the charge |
Declaration & Undertaking Dt. 12.02.2002 for
IInd charge to Bank of India for Rs. 67.500 millions on Immovable assets of
the company together with all building and structures thereon and all plant
& machinery of the Jamshedpur unit of the company |
|
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. |
By this present modification, additional second
charge of Rs. 67.500 millions extended to Bank of India as additional security
by document Dt. 12.02.2002 on immovable properties together with all building
and plant and machinery at |
|
Name of the company |
RSB TRANSMISSIONS [ |
|
Presented
By |
Mr.
R. K. Behera, Chairman |
|
1) Date and description of instrument creating
the change |
1. Term Loan Agreement for High Value Advances
dated 16.11.2004 2. Deed of Hypothecation for Term Loan dated
16.11.2004 |
|
2) Amount secured by the charge/amount owing on
the securities of charge |
Fresh Term Loan : Rs. 83.500 millions |
|
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 |
Security : Primary : Hypothecation of assets acquired / to be acquired
out of Bank Finance – Pari – passu charge with SBI over all assets including
the land and building which are part of the expansion project. Collateral : 1. Pari-passu charge on the existing fixed assets
at 2. Equitable mortgage of plot A – 092, S. No.
235/A, Lohegaon owned by Mr. R. K. Behera, plot no. 50, S. No. 304 & 305,
Wagholi owned by Mr. R. K. Behera and plot no. 64, s. No. 304 & 305,
Wagholi owned by Mr. S. K. Behera Guarantee : Personal Guarantee of : 1. Shri S. K. Behera 2. Shri R. K. Behera 3. Smt. Nalini Behera 4. Shri Sailendra Behera [Joint Means Rs. 32.800
millions] Corporate Guarantee of : 1. IAL Ventures Private Limited [TNW Rs. 18.500 millions] 2. International Auto Limited [TNW Rs. 108.800
millions] |
|
4) Gist of the terms and conditions and extent
and operation of the charge. |
1. Rate of
Interest : At SBTPLR, present effective rate 11% p.a. with monthly rest. 2. Repayment
schedule of Term Loan will start from October, 2005 and to be repaid in 60
installments of Rs. 13.920 millions each. [Repayment period to coincide with
repayment fixed by SBI’s Term Loan] 3. The term and
conditions for the Term Loan to be the same as that of the Term Loan
sanctioned by SBI. |
|
5) Name and Address and description of the person
entitled to the charge. |
State Bank of
Travancore [Associate of
the State Bank of 1248A, |
|
6) Date
and brief description of instrument modifying the charge |
Not Applicable |
|
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 |
WEBSITE DETAILS
ABOUT US
More than just products..
RSB has been providing
complete solutions to its demanding OE customers for past several years. With a
product rang of fully finished Gears & Shafts for Transmission and Engine
requirements, Propeller Shafts, Live Axles for Commercial Vehicles and
Off-highway machineries. RSB is in possession of…
Far reaching capabilities..
That translates into
manufacturing from customers’ specs, drawing or samples, Employing modern shop
floor practices and cutting edge CAD/CAM technologies. RSB has a focus…
And a vision..
Of recognition as a
cost effective and value added provider of unique solution in the field of OE
automotive aggregates and Systems. RSB believes in the concept..
Of world-class quality..
That must result in
solutions that represent outstanding merit and ensure unsurpassed customers
delight.
Brief History
Started as a private
limited company in 1989 at
Presently it is
closely held public limited company
Original name was
Neelachal Auto, which was changed to the present name in 2000.
Initially, the company
was set up with a capacity to manufacture propeller shaft components for OEMs
and later high precision machined components viz. automotive gears, machining
of steel casting & Forgings were added
Subsequently, a state
of art plant at Pune was set up in the year 1996 to make fully finished gears.
Cost of Pune project
was Rs. 35 crores.
PRODUCT
Propeller
Shafts
RSB’s Propeller
Shaft manufacturing program covers more than 65 unique part designations. From
its plant at
Gears
& Shafts
RSB makes an
extensive range of fully finished gears and shafts from two plants in
- Gears: 30 to 40 Dia, upto Module 8
- Shafts: Up to 600 mm Long
- Sleeves Plain: Up to 250 mm Dia.
- Sleeves Broached: Up to 120 mm Dia
- Gears with Straight Spur, Helical
Spur
- Shafts with Straight Spline, Involute
Spline
- Internal & External Gears
- Taper Shaped & Taper Hobbed Gears
- Custom Profiles
- Tooth Chamfering
- Tooth Rounding
- Roof-top Chamfering
Machined
Castings & Forgings
Equipped
with CNC machining centers (Both horizontal & vertical), RSB has the
capability to meet the precision machining requirements of complicated castings
and forgings. Some of the items currently produced are Cylinder heads, Clutch
Plates, Gear Box case and Cover, Oil Cooler Cover, Exhaust Manifold etc., to
name a few.
Live
Axles
Capability
to design, develop, produce, test and supply complete live axle systems for
commercial vehicles, off- highway machineries exists with RSB. With our
precision machining and gear making capabilities, majority of components and
aggregates required for these axles like Differential Assembly, Axle Shafts and
Fabricated beams are made in-house.
FACILITIES
Manufacturing
Facilities
Both the plants of
RSB are equipped with state of art Gear making machines like Broaching, CNC
Turning, Hobbing, Shaving, Shaping, Tooth rounding, Chamfering, Internal
Grinding. Heat treatment facilities are available with sealed quench furnaces,
tempering furnaces and shot blasting equipments.
CNC machining
centers with capability to machine critical castings and forgings with high
precision requirements are present in both the plants.
Their
Quality Infrastructure
High precision
requirements for gears and shafts call for testing and measuring equipments and
gauges for early detection of defects in manufacturing processes. This has led
us to acquire Hoffler gear testing machines and the plant is equipped with host
of measuring gauges and equipments to monitor stage wise performance through
SPC. In addition, both the plants have metallurgical laboratories to test case
depth of hardness as well as the grain structure during heat treatment.
Design &
Development
An integrated Design
& Development Centre in Pune is fast turning out new ideas into reality.
This facility offers a range of engineering design services to automotive
companies for their requirement in the field of systems it retains a focused
group that specializes in cutting edge technology in the area of CAD/CAM/CAE
and relies on the vast engineering capability of the RSB Group for rapid
modeling and prototyping. World-class tools are employed to design, engineer
and simulates solutions.
From RSB’s
technology centre new Propeller Shaft designs are emerging that are lighter and
more cost effective, while maintaining same levels of torque transfer.
Innovative solutions are ensuring enhanced component life. Redesigned Roller
Bearings, fully enclosed Seals, Serration Joints and Rilsan® treatment are a
few highlights of the new RSB design philosophy.
Logistics
Due to the high
precision requirements of RSB products, the demands on Logistics run high. An
extensive and finely tuned Supply Chain system takes over once the products are
ready for dispatch. RSB has exclusive partnership with logistics providers to
ensure steady and predictable delivery patterns to customers including JIT
requirements.
QUALITY MANAGEMENT
SYSTEM
All RSB plants are
QS:9000 certified since 1997 and received the TS16949 certification in 2004.
RSB is committed to satisfy customer’s expectations by consistent supply of
quality products at competitive price. To achieve this TQM initiatives are
underway that aim to bring together technological, human and material resources
available at RSB to ensure continuous improvement.
They Use
1. F. M. E. A.: To eliminate
defect at process design stage.
2. STATISTICAL PROCESS CONTROL
(SPC): To reduce the process variation.
3. JUST IN TIME: To minimize
manufacturing lead time.
4. TOTAL PRODUCTIVE MAINTENANCE
(T.P.M): to improve predictability and availability
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.40.97 |
|
|
1 |
Rs.80.73 |
|
Euro |
1 |
Rs.54.56 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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 |
|