MIRA
INFORM REPORT
|
Report Date : |
25.10.2008 |
IDENTIFICATION DETAILS
|
Name : |
ANU INDUSTRIES LIMITED |
|
|
|
|
Registered Office : |
A – 9, Ashok Vihar, Phase – I, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
06.05.1986 |
|
|
|
|
Com. Reg. No.: |
024134 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72190DL1986PLC024134 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELA03606B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACA1140L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of Electronic and Electrical Auto oil Filled Ignition
Coils for Cars and Dry Coil for Two Wheelers. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established and reputed company. Trade relations
are fair. Business is active. General financial position is satisfactory.
Payments are reported as usually correct and as per commitments. The company can be considered good for normal business dealings. |
LOCATIONS
|
Registered Office : |
A – 9, Ashok Vihar, Phase – I, |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1: |
Plot No.102-103, Udyog Vihar, Phase – IV, Gurgaon – 122015, |
|
Tel No.: |
91-124-2341240/2340145 |
|
Fax No.: |
91-124-2340685 |
|
Email : |
|
|
|
|
|
Factory 2: |
Plot no. 52, Sector-3, IMT, Manesar, |
|
|
|
|
Factory 3: |
Plot no. 154,TrunkRoad, Porur, Chennai, |
DIRECTORS
|
Name : |
Mrs. Dewaki Nandan |
|
Designation : |
Director |
|
Address : |
6222/1, Block No.6, |
|
Date of Appointment : |
01.09.2004 |
|
|
|
|
Name : |
Mr. Tibrewal |
|
Designation : |
Director |
|
Address : |
Dev Nagarm Karol Bagh, |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Electronic and Electrical Auto oil Filled
Ignition Coils for Cars and Dry Coil for Two Wheelers. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
GENERAL INFORMATION
|
Customers : |
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Kotak Mahindra
Bank Limited 7th Floor,
CIN:
L65110MH1985PLC038137 Email : gkjain1234@rediffmail.com |
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
V. C. Gautam and Company Chartered Accountant |
|
Address : |
B – 3, Kailash Colony, |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4561850 |
Equity Shares |
Rs.10/- each |
Rs.45.619 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
45.618 |
41.244 |
41.243 |
|
|
2] Share Application Money |
27.110 |
45.550 |
1.800 |
|
|
3] Reserves & Surplus |
126.723 |
74.517 |
67.844 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
199.451 |
161.311 |
110.887 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
75.260 |
54.522 |
75.231 |
|
|
2] Unsecured Loans |
55.744 |
6.074 |
7.689 |
|
|
TOTAL BORROWING |
131.004 |
60.596 |
82.920 |
|
|
DEFERRED TAX LIABILITIES |
9.947 |
5.624 |
2.056 |
|
|
|
|
|
|
|
|
TOTAL |
340.402 |
227.531 |
195.863 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
177.574 |
127.371 |
53.244 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
64.493 |
|
|
|
|
|
|
|
|
INVESTMENT |
9.757 |
9.757 |
9.547 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.00 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
94.640
|
67.151 |
65.066 |
|
|
Sundry Debtors |
141.683
|
73.433 |
65.417 |
|
|
Cash & Bank Balances |
4.569
|
5.230 |
6.732 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
77.697
|
39.208 |
40.922 |
|
Total
Current Assets |
318.589
|
185.022 |
178.137 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
162.059
|
93.955 |
102.613 |
|
|
Provisions |
3.610
|
0.967 |
7.400 |
|
Total
Current Liabilities |
165.669
|
94.922 |
110.013 |
|
|
Net Current Assets |
152.920
|
90.100 |
68.124 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.151 |
0.303 |
0.455 |
|
|
|
|
|
|
|
|
TOTAL |
340.402 |
227.531 |
195.863 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
535.793 |
429.578 |
394.757 |
|
|
Other Income |
82.761 |
12.791 |
0.936 |
|
|
Total Income |
618.554 |
442.369 |
395.693 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
21.208 |
11.687 |
9.807 |
|
|
Provision for Taxation |
7.931 |
4.534 |
3.716 |
|
|
Profit/(Loss) After Tax |
13.277 |
7.153 |
6.091 |
|
|
|
|
|
|
|
|
Export Value |
82.456 |
11.991 |
NA |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
456.468 |
335.555 |
307.463 |
|
|
Increase/(Decrease) in Finished Goods |
(20.498) |
(3.001) |
(3.110) |
|
|
Salaries, Wages, Bonus, etc. |
32.860 |
24.550 |
16.798 |
|
|
Managerial Remuneration |
0.240 |
0.240 |
0.240 |
|
|
Payment to Auditors |
0.060 |
0.060 |
0.050 |
|
|
Interest |
9.749 |
5.885 |
4.086 |
|
|
Insurance Expenses |
0.602 |
0.492 |
0.584 |
|
|
Power & Fuel |
10.729 |
8.462 |
6.503 |
|
|
Depreciation & Amortization |
7.396 |
5.322 |
6.639 |
|
|
Other Expenditure |
99.740 |
53.117 |
46.633 |
|
Total Expenditure |
597.346 |
430.682 |
385.886 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.15
|
1.62 |
1.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.96
|
2.72 |
2.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.27
|
3.74 |
4.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.07 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.49
|
0.96 |
1.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.92
|
1.95 |
1.62 |
LOCAL AGENCY FURTHER INFORMATION
Form 8:
|
Corporate
identity number of the company |
U72190DL1986PLC024134 |
|
Name of the
company |
ANU INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
A – 9, Ashok Vihar, Phase – I, |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Kotak Mahindra
Bank Limited 7th
Floor, CIN:
L65110MH1985PLC038137 Email : gkjain1234@rediffmail.com |
|
Nature of
instrument creating charge |
Memorandum of
Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
05.02.2008 |
|
Amount secured by
the charge |
Rs.216.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of
Interests: As per Agreement Terms of
repayment: As per Agreement Margin: As per Agreement Extent and
Operation of the charge: Extent and
Operation – 100% Others: As per Agreement |
|
Particulars of
the property charged |
Equitable
Mortgage by way of first and Exclusive charge over company’s property at
House No.29-A, on Road no.K-10 Administrative 250.56 sq. Mtrs. At the residential
colony of DLF Qutab Enclave Complex, Village Sarhaul Tehsil and District
Gurgaon (Haryana) Together with all Building and Structure thereon to be
thereon. |
Fixed Assets:
- Land
- Building
- Machinery
- Dies and
Fixture
- Testing
Equipment
- Generator
- Electric
Fitting
- Office
Equipment
- Vehicles
- Computers
- Cycles
Website Details:
1974:
Started manufacturing operations as a partnership firm to
manufacture Electronic & Electrical Auto oil filled ignition coils for cars
and dry coil for two wheelers.
1986:
Started Anu auto Industries Private Limited in Gurgaon to
manufacture Electronic and Electrical auto parts, ignition coil, relay assembly
winkers, relay assembly starter & noise suppressor cap.
1996:
Entered into technical collaboration with L'electrifil
Industries, France for producing High Tensiom cord assemblies.
1996:
Entered into Technical collaboration with Dong Yang
Corporation,
1996:
Obtaining ISO - 9002 Accredition.
1997:
Entered into technical collaboration with
1997:
Anu Auto Industries entered into technical agreement with
Hyunil Electronic Company,
1998:
Set up plant in Chennai.
2001:
Anu Auto Industries Private Limited became Company.
Brief History of Sister Concern:
Jay Yushin Limited is a joint venture company
promoted in 1986 by Mr. J.P. Minda the main Promoter & U-Shin Limited of
Japan, for the manufacturing of Automobile locks, Door latches, Combination
Switches and heater control units .All the products manufactured in this
company are supplied to OEMs like Maruti, Hyundai, Honda, Kinetic,
Hindustan Motors and Bajaj Auto Limited. The total cost of the project is
around Rs.125 Million.
JNS
Instruments Limited was incorporated on 9th July '98in
collaboration with Nippon Sieki Company Limited Japan. (Indian Promoters 61%
and
JPM Tools Limited was incorporated in there
is sufficient tool room facility to design, develop and produce
progressive/compound press tools , Injection Moulds, Die Casting moulds, Prototype
Samples as well as Jigs and fixture.
There are sufficient in house facilities and special purpose machines which
include Computer Equipments - Viscam, Autocad, I-deas, Pro-engineer; CNC
Machines - CNC Vertical Machine centre HAAS, vertical Machine
Centre - Feeler, CNC Wire cut 434 Electronica, EDM machines - EZNC EDM Machine,
5030,
Location:
The plant is situated at the above address. The project cost
is Rs.25 Million. Gurgaon is one of the most upcoming cities of
Management:
The company affairs are being looked after by the three main directors namely Mr. J.P. Minda, Mr. Anil Minda & Mr. Ashwani Minda with experienced and well qualified technical and commercial staff appointed by the company. All the three directors are technocrats with adequate technical and commercial business experience of managing similar manufacturing units.
Personnel and Training:
The total manpower is 100 persons comprising of skilled/semiskilled workers and 15 managerial and supervisory staff.
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 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.49.95 |
|
|
1 |
Rs.79.56 |
|
Euro |
1 |
Rs.63.65 |
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 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--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. |
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 |
|