MIRA
INFORM REPORT
|
Report Date : |
14.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
G I AUTO PRIVATE LIMITED |
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Registered Office : |
No.2, Industrial Site, Indiranagar 1st Stage, Bangalore – 560038,
Karnataka, India |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
15.12.1986 |
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Com. Reg. No.: |
08-8034 |
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CIN No.: [Company
Identification No.] |
U64100KA1986PTC008034 |
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IEC No.: |
0705002845 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRG00413A |
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PAN No.: [Permanent
Account No.] |
AAACG7516L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Auto Mobile Components, Lock Nut and
Press Components. |
RATING &
COMMENTS
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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 110000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Faithma |
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Designation : |
Reception |
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Date : |
08.07.2008 |
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Name : |
Mr. Shiv Prakash |
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Designation : |
Export Department |
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Contact No.: |
91-9845756343 |
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Date : |
08.07.2008 |
LOCATIONS
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Registered Office : |
No.2, Industrial Site, Indiranagar 1st Stage, Bangalore –
560038, Karnataka, India |
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Tel. No.: |
91-80-25252437 |
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Mobile No.: |
91-9845024437/ 9845077280 (Mr. Jagdish) |
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Fax No.: |
91-80-25250298 |
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E-Mail : |
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Area : |
1000 sq. ft. |
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Location : |
Rented |
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Factory : |
B-8, Hal Ancillary Industrial Estate, Marathahalli, Bangalore,
Karnataka, India |
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Tel. No.: |
91-80-25231371/ 25233252 |
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Fax No.: |
91-80-25233252/ 25250298 |
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Mobile : |
91-9845024437/ 9845077280 |
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Email : |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Chempi Madhava Pai |
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Designation : |
Managing Director |
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Address : |
No.24, 80 Feet Road, Hal III Stage, Indiranagar, Bangalore – 560075,
Karnata, India |
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Date of Birth/Age : |
06.06.1944 |
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Qualifications : |
M. Tech |
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Date of Appointment : |
15.12.1986 |
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Name : |
Mr. Vinay Madhaua Pai |
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Designation : |
Whole Time Director |
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Address : |
No.24, 80 Feet Road, Hal III Stage, Indiranagar, Bangalore – 560075,
Karnata, India |
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Date of Birth/Age : |
02.06.1977 |
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Qualifications : |
B. Com |
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Date of Appointment : |
01.01.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Chempi Madhava Pai |
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3372 |
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Mrs. Chandra N. Pai |
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200 |
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Mrs. Hema Madhava Pai |
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673 |
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Mr. C. M. Pai and Kaveramma |
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113 |
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Mr. Vinay Madhava Pai |
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752 |
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Total |
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5110 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Auto Mobile Components, Lock Nut and
Press Components. |
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Products : |
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Exports : |
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Products : |
Auto Mobile Components. |
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Countries : |
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Terms : |
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Selling : |
Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
112 (Office – 12 and Factory – 100) |
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Bankers : |
HAL 2 Stage, Bangalore, India |
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Banking
Relations : |
Satisfactory |
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Financial Institution : |
Karnataka State Financial Corporation KSFC Bhavan No.1/1, Thimmaiah Road, Bangalore – 560052, Karnataka,
India |
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Auditors : |
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Name : |
Rao and Swami Chartered Accountant |
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Address : |
2/1 Connaught Road, Bangalore – 560052, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5110 |
Equity Shares |
Rs.100/-
each |
Rs.0.511
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.511 |
0.511 |
0.511 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
21.406 |
13.391 |
7.117 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
21.917 |
13.902 |
7.628 |
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LOAN FUNDS |
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1] Secured Loans |
12.007 |
6.271 |
7.500 |
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2] Unsecured Loans |
0.000 |
0.000 |
2.234 |
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TOTAL BORROWING |
12.007 |
6.271 |
9.734 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
33.924 |
20.173 |
17.362 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
20.830 |
18.296 |
14.900 |
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Capital work-in-progress |
0.000 |
0.863 |
0.000 |
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INVESTMENT |
0.005 |
0.006 |
0.006 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.174
|
1.406 |
1.007 |
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Sundry Debtors |
37.039
|
29.940 |
17.747 |
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Cash & Bank Balances |
0.114
|
0.261 |
1.615 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
14.988
|
6.122 |
2.202 |
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Total
Current Assets |
54.315
|
37.729 |
22.571 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
30.651
|
31.173 |
17.321 |
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Provisions |
10.575
|
5.548 |
2.794 |
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Total
Current Liabilities |
41.226
|
36.721 |
20.115 |
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Net Current Assets |
13.089
|
1.008 |
2.456 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
33.924 |
20.173 |
17.362 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
154.124 |
123.504 |
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Other Income |
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0.000 |
14.123 |
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Total Income |
|
154.124 |
137.627 |
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Profit/(Loss) Before Tax |
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12.800 |
8.934 |
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Provision for Taxation |
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4.785 |
2.660 |
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Profit/(Loss) After Tax |
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8.015 |
6.274 |
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Export Value |
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0.162 |
0.049 |
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Expenditures : |
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Depreciation & Amortization |
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3.296 |
2.362 |
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Other Expenditure |
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138.028 |
126.331 |
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Total Expenditure |
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141.324 |
128.693 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
5.20
|
4.56 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
8.30
|
7.23 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
17.03
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15.95 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.58
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0.64 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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2.43
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3.09s |
3.91 |
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Current Ratio (Current Asset/Current Liability) |
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1.32
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1.03 |
1.12 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
|
Parameters |
Details |
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Existence
Verification |
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Name |
G I Auto Private Limited |
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Statutory
Approvals |
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Income Tax Registration |
AAACG7516L |
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VAT/ TIN Registration |
29790327195 |
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Name of Bank |
Corporation Bank |
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Current Account Number |
CCBD101170001 |
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Credibility
Factors |
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IndiaMART Client Since |
3 years |
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Years of Establishment |
1986 |
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Standards &
Certifications |
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Quality Management Systems |
T. S. 16949 Certification |
Trade Reference:
- Tyco Flow Control, Multi National Company)
- Budhenbarq, Uk
Form 8:
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Corporate
identity number of the company |
U64100KA1986PTC008034 |
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Name of the
company |
G I AUTO PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
No.2, Industrial Site, Indiranagar 1st Stage, Bangalore –
560038, Karnataka, India |
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This form is for |
Creation of charge |
|
Type of charge |
Immovable
Property Plant and
Machinery |
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Particular of
charge holder |
Karnataka State Financial Corporation KSFC Bhavan No.1/1, Thimmaiah Road, Bangalore – 560052, Karnataka,
India |
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Nature of
instrument creating charge |
Hypothecation
Deed |
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Date of
instrument Creating the charge |
17.01.2008 |
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Amount secured by
the charge |
Rs.9.600 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: 14% p.a. Terms of
Repayment: The loan shall be
repayable in 60 equitable monthly installments. Margin: Nil Extent and
Operation of the charge: The charge shall
remain in operation till the repayable of loan amount in full |
Website Details
Profile:
Subject was founded in the year 1974. Today,
it has established itself as one of the reputed manufacturers of Precision
turned components, CNC machined parts, Press components, stampings, automotive
sub-assemblies and assemblies.
Its wide range of products including sub-assemblies and assemblies
find application in a wide variety of industries such as automobile,
engineering and instrumentation. It has been certified for ISO TS 16949 and has
introduced best practices such as Kaizen, TPM, 5S and other modern management
techniques. Since its inception the company has continuously modernized and
upgraded its manufacturing facility and is embarking on an ambitious expansion
program. Future plans include a focus on export activities, setting up a 100 %
Export Oriented Unit and moving towards certification for Environment
Management System ISO 14001.
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 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.42.72 |
|
UK Pound |
1 |
Rs.84.42 |
|
Euro |
1 |
Rs.67.38 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--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 |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--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. |
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 |
|