MIRA
INFORM REPORT
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Report Date : |
26.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANUSAYA AUTO PRESS PARTS PRIVATE LIMITED |
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Registered Office : |
Gat No. 388, Village
Mahalunge, Taluka Khed, District Pune – 410501, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
03.04.1995 |
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Com. Reg. No.: |
11-87102 |
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CIN No.: [Company
Identification No.] |
U34300PN1995PTC087102 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTA02457A |
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PAN No.: [Permanent
Account No.] |
AACCA3246K |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer of
heavy sheet meal body parts for various automobiles. |
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 1000000 |
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Status : |
Satisfactory |
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Litigation : |
Clear |
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Comments : |
Subject appears
to be an established company having satisfactory track. Trade relations are fair. Nothing adverse reported. The company can
be considered normal for business dealings at usual trade terms and
conditions. This time no
direct contact with the management could be possible despite our continuous
attempts. |
LOCATIONS
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Registered Office : |
Gat No. 388,
Village Mahalunge, Taluka Khed, District Pune – 410501, Maharashtra, India |
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Tel. No.: |
91-2135-259026/256026 |
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Fax No.: |
91-2135-259090 |
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E-Mail : |
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Factory : |
302, Village-mahalunge Talegaon-chanan Road, Chakan, Pune-410501,
Maharashtra, India |
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Tel. No.: |
91-2135-259026 |
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Fax No.: |
91-2135-259090 |
DIRECTORS
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Name : |
Mr. Dattatraya
Tukaram Wadhokar |
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Designation : |
Director |
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Address : |
Plot 350, Sector
24, Pradhikaran Tilak Road, Nigdi, Pune – 411044, Maharashtra, India |
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Date of Birth/Age : |
01.1.1939 |
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Date of Appointment : |
03.04.1995 |
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Name : |
Mr. Manohar
Dattatraya Wadhokar |
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Designation : |
Director |
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Address : |
Plot 350, Sector
24, Pradhikaran Tilak Road, Nigdi, Pune – 411044, Maharashtra, India |
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Date of Birth/Age : |
01.10.1962 |
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Date of Appointment : |
03.04.1995 |
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Name : |
Mr. Suresh
Dattatraya Wadhokar |
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Designation : |
Director |
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Address : |
Plot 350, Sector
24, Pradhikaran Tilak Road, Nigdi, Pune – 411044, Maharashtra, India |
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Date of Birth/Age : |
28.12.1965 |
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Date of Appointment : |
03.04.1995 |
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Name : |
Mr. Jagdish
Dattatraya Wadhokar |
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Designation : |
Director |
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Address : |
Plot 350, Sector
24, Pradhikaran Tilak Road, Nigdi, Pune – 411044, Maharashtra, India |
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Date of Birth/Age : |
08.05.1970 |
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Date of Appointment : |
03.04.1995 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2004
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Names of Shareholders |
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No. of Shares |
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Dattatraya
Tukaram Wadhokar |
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90000 |
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Manohar Dattatraya Wadhokar |
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18000 |
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Suresh Dattatraya Wadhokar |
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18000 |
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Jagdish
Dattatraya Wadhokar |
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18000 |
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Anusaya Dattatraya Wadhokar |
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6000 |
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Total |
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150000 |
Equity Share Breakup (Percentage of Total Equity)
As on 29.09.2007
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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 of heavy
sheet meal body parts for various automobiles. |
GENERAL
INFORMATION
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No. of Employees : |
About 300 |
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Bankers : |
Bank of
Maharashtra D. G. Marg, Pune
– 411004, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P. M. Kawade and Company Chartered Accountant |
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Address : |
Plot No. 78, Sector 21, Yamunanagar, Nigdi, Pune-411044, Maharashtra,
India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs. 100/- each |
Rs. 15.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs. 100/- each |
Rs. 15.000 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 |
15.000 |
15.000 |
15.000 |
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2] Share Application Money |
61.853 |
72.695 |
57.179 |
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3] Reserves & Surplus |
139.105 |
82.424 |
47.726 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
215.958 |
170.119 |
119.905 |
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LOAN FUNDS |
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1] Secured Loans |
94.975 |
48.414 |
39.564 |
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2] Unsecured Loans |
28.084 |
48.587 |
61.271 |
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TOTAL BORROWING |
123.059 |
97.001 |
100.835 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
339.017 |
267.120 |
220.740 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
192.383 |
146.136 |
101.074 |
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Capital work-in-progress |
21.787 |
0.000 |
0.000 |
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INVESTMENT |
43.450 |
30.233 |
6.327 |
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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 |
163.503
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87.155 |
124.660 |
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Sundry Debtors |
143.713
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65.797 |
58.812 |
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Cash & Bank Balances |
0.099
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0.013 |
0.174 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
10.137
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8.039 |
3.585 |
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Total
Current Assets |
317.452
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161.004 |
187.231 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
235.955
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70.253 |
64.789 |
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Provisions |
0.000
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0.000 |
9.103 |
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Total
Current Liabilities |
235.955
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70.253 |
73.892 |
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Net Current Assets |
81.497
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90.751 |
113.339 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
339.117 |
267.120 |
220.740 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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1308.859 |
905.825 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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1308.859 |
905.825 |
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Profit/(Loss) Before Tax |
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62.999 |
7.078 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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62.999 |
7.078 |
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Total Expenditure |
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1245.860 |
898.747 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
4.81
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0.78 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
4.81
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0.78 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
12.45
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2.30 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.29
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0.04 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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1.66
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0.98 |
1.45 |
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Current Ratio (Current Asset/Current Liability) |
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1.35
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2.29 |
2.53 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
ANUSAYA AUTO PRESS PARTS PRIVATE LIMITED |
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Presented By |
BANK OF MAHARASHTRA, D. G. BRANCH, PUNE – 411006 |
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1) Date and description of instrument creating the change |
1. Hypothecation of goods and book debts to secure cash credit
facilities |
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2) Amount secured by the charge/amount owing on the
securities of charge |
Cash Credit of Rs. 1.500 millions |
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3) Short particular of the property charged. If the
property acquired is subject to charge, date of the acquired of the property
should be given |
Stock of raw materials, semi finished and finished goods
and receivables up to 90 days
Interest @ 14% p.a. Margin : 25% Purpose for Working Capital Margin : 25% |
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4) Gist of the terms and conditions and extent and
operation of the charge. |
Guarantors – Personal guarantee of all directors Text Review within one year |
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5) Name and Address and description of the person entitled
to the charge. |
Bank of Maharashtra Deccan Gymkhana Branch, Pune – 411004 |
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6) Date and brief description
of instrument modifying the charge |
Dt. 05.04.2004 Hypothecation of goods and book debts to secure cash
credit facility |
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7) Particulars of modifications specifying the terms and
conditions or the extent of operations of the charge in which modification is
made and the details of the modification. |
Cash Credit Limit increased to Rs. 12.500 millions from
existing Rs. 4.000 millions. Purpose – Working Capital Security – Hyp. of stock and receivables & personal guarantee of all directors Margin – 25% in Banks favour Rate of Interest : PLR + 2% i.e. 13% p.a. at present with monthly rests Review : Within 12 months Collateral / Security : Hyp. of machinery cost Rs. 20.246
millions |
WEBSITE DETAILS
The factory was established in the year 1996 with a built up area of 1800 sq. mtrs. on a land of 3 acres.
This factory is a state of art company because of the expertise and experience
the promoters have gained during last thirty years of industrious efforts.
The Company manufactures heavy sheet metal body parts for various automobiles.
The company’s capabilities enable it to manufacture imported parts for
automobile and white goods most successfully. The most prestigious of the parts
being manufactured by this company are the heavy sheet metal parts for the
small cars of Tatas, The Indica &
The Indigo.
The company also manufactures parts for LCV and MCV vehicles of Tata Motors
& Ashok Leyland. The company is also supplying components to the GLOBAL MARKET.
The activities of the company are being expanded at a fast pace to achieve a
stature of important body part maker for TATA Motors, PIAGGIO India & Ashok
Leyland.
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.42.23 |
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UK Pound |
1 |
Rs.83.88 |
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Euro |
1 |
Rs.66.41 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
NO |
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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 |
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TOTAL |
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46 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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