MIRA INFORM REPORT
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Report Date : |
12.04.2011 |
IDENTIFICATION DETAILS
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Name : |
ANU INDUSTRIES LIMITED |
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Formerly Known
As : |
ANU AUTO INDUSTRIES LIMITED |
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Registered Office : |
A – 9, Ashok Vihar, Phase – I, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
06.05.1986 |
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Com. Reg. No.: |
55-024134 |
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CIN No.: [Company
Identification No.] |
U72190DL1986PLC024134 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA03606B |
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PAN No.: [Permanent
Account No.] |
AAACA1140L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacture of Electronic and Electrical Auto oil Filled
Ignition Coils for Cars and Dry Coil for Two Wheelers. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (51) |
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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 1065000 |
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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 company having satisfactory track. Trade
relations are fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
A – 9, Ashok Vihar, Phase – I, |
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Tel. No.: |
91-124-4010363 |
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Fax No.: |
91-124-2340685 |
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E-Mail : |
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Website : |
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Factory 1: |
Plot No.102-103, Udyog Vihar, Phase – IV, Gurgaon – 122015, |
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Tel No.: |
91-124-2341240 / 2340145 / 4801400 |
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Fax No.: |
91-124-2340685 |
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Email : |
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Factory 2: |
Plot no. 52, Sector-3, IMT, Manesar, |
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Factory 3: |
Plot no. 154,TrunkRoad, Porur, Chennai, |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Anil Minda |
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Designation : |
Director |
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Address : |
A – 9, Ashok Vihar, Phase – I, |
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Date of Birth : |
29.12.1954 |
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Date of Appointment : |
06.05.1986 |
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DIN : |
00321553 |
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Name : |
Mr. Ashwani Minda |
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Designation : |
Director |
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Address : |
A – 9, Ashok Vihar, Phase – I, |
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Date of Birth : |
14.07.1959 |
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Date of Appointment : |
06.05.1986 |
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DIN : |
00049966 |
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Name : |
Ms. Kalpana Minda |
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Designation : |
Whole-time Director |
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Address : |
A – 9, Ashok Vihar, Phase – I, |
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Date of Birth : |
06.06.1955 |
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Date of Appointment : |
06.05.1986 |
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DIN : |
02443552 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Anil Minda |
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350950 |
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Ashwani Minda |
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3700 |
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J. P. Minda |
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52080 |
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Kalpana Minda |
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76360 |
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Vandana Minda |
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31460 |
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Richa Minda |
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100 |
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Dwarka Electronvest Private Limited |
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15000 |
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J. A. Builders Limited |
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245300 |
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Mew Tools Private Limited |
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230700 |
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Ele Overseas Private Limited |
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25000 |
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Grow Fast Securities and Creditors Limited |
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199800 |
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Kritika Exports Private Limited |
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90000 |
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Swell Exports Private Limited |
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72500 |
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Commitment Finance Limited |
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1230000 |
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Consorium Vyapaar Limited |
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865000 |
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Electricals and Electronics India Limited |
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894000 |
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Heaven Suppliers Private Limited |
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616000 |
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Total |
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4997950 |
As on 30.09.2010
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Category |
Percentage |
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Bodies corporate |
89.70 |
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Directors or relatives of Directors |
10.30 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Electronic and Electrical Auto oil Filled
Ignition Coils for Cars and Dry Coil for Two Wheelers. |
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Products : |
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GENERAL INFORMATION
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Customers : |
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Bankers : |
15-16, UGF, CIN: L65110MH1985PLC038137 Email : gkjain1234@rediffmail.com |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
V. C. Gautam and Company Chartered Accountant |
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Address : |
B – 3, Kailash Colony, |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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7,000,000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4,997,950 |
Equity Shares |
Rs.10/- each |
Rs.49.980 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
49.980 |
48.050 |
48.048 |
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2] Share Application Money |
5.000 |
24.300 |
10.310 |
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3] Capital Subsidy |
0.327 |
0.327 |
0.327 |
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4] Reserves & Surplus |
211.107 |
177.852 |
167.554 |
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5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
266.414 |
250.529 |
226.239 |
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LOAN FUNDS |
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1] Secured Loans |
143.545 |
104.459 |
131.345 |
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2] Unsecured Loans |
39.784 |
44.373 |
37.514 |
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TOTAL BORROWING |
183.329 |
148.832 |
168.859 |
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DEFERRED TAX LIABILITIES |
16.061 |
11.612 |
5.955 |
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TOTAL |
465.804 |
410.973 |
401.053 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
332.037 |
311.101 |
262.763 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
10.166 |
10.067 |
9.767 |
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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 |
103.699
|
101.560 |
107.263 |
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Sundry Debtors |
152.766
|
128.607 |
132.979 |
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Cash & Bank Balances |
9.242
|
9.233 |
7.356 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
53.843
|
39.153 |
60.520 |
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Total
Current Assets |
319.550
|
278.553 |
308.118 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
|
174.642 |
165.805 |
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Other Current Liabilities |
189.223
|
9.433 |
9.507 |
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Provisions |
6.851
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4.673 |
4.283 |
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Total
Current Liabilities |
196.074
|
188.748 |
179.595 |
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Net Current Assets |
123.476
|
89.805 |
128.523 |
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MISCELLANEOUS EXPENSES |
0.125 |
0.000 |
0.000 |
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TOTAL |
465.804 |
410.973 |
401.053 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Net Sales |
861.172 |
698.273 |
727.383 |
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Other Income |
0.850 |
1.482 |
3.253 |
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TOTAL (A) |
862.022 |
699.755 |
730.636 |
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Less |
EXPENSES |
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Raw Material Consumed |
589.778 |
475.808 |
519.367 |
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Manufacturing and Other Expenses |
145.502 |
115.740 |
140.448 |
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Sales and Administrative Expenses |
69.420 |
49.991 |
32.587 |
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Increase / Decrease in stock |
0.951 |
4.980 |
(7.215) |
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TOTAL (B) |
805.651 |
646.519 |
685.187 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
56.371 |
53.236 |
45.449 |
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Less |
FINANCIAL
EXPENSES (D) |
16.034 |
21.234 |
15.073 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
40.337 |
32.002 |
30.376 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.773 |
13.322 |
12.608 |
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Less |
Preliminary
Expenses |
0.031 |
0.000 |
0.011 |
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Less |
Deferred
Expenses |
0.000 |
0.000 |
0.141 |
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PROFIT BEFORE
TAX (E-F) (G) |
24.533 |
18.680 |
17.616 |
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Less |
TAX (I) |
8.649 |
8.395 |
(1.286) |
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PROFIT AFTER TAX
(G-I) (J) |
15.884 |
10.285 |
18.902 |
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Earnings Per
Share (Rs.) |
3.18 |
-- |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
1.84
|
1.47 |
2.59 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.85
|
2.68 |
2.42 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.77
|
3.17 |
3.09 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.07 |
0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.42
|
1.35 |
1.54 |
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Current Ratio (Current Asset/Current Liability) |
|
1.63
|
1.48 |
1.72 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS :
The company has completed another significant year of its operation, one
in which it has sustained and consolidated its posirtion in the industry. In
spite of various constraints the turnover of the company has increased during
the year ended as on 31.03.2010 with a turnover of Rs. 861.172 million as
against Rs.698.273 in the previous year. The PBT of the company has increased
to Rs. 4.533 million as against Rs. 18.680 million in the previous year
Form 8:
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Corporate
identity number of the company |
U72190DL1986PLC024134 |
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Name of the
company |
ANU INDUSTRIES LIMITED |
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Address of the
registered office or of the principal place of business in |
A – 9, Ashok Vihar, Phase – I, |
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This form is for |
Creation of charge |
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Type of charge |
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Particular of
charge holder |
Kotak Mahindra
Bank Limited 15-16 UGF, CIN: L65110MH1985PLC038137 Email : accounts@anuindustries.com |
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Nature of
instrument creating charge |
Deed of
hypothecation dated 29.04.2010 Memorandum of constructive
delivery dated 29.04.2010 (sector-3, industrial estate ch. Devilal imt
manesar) Memorandum of
constructive delivery dated 29.04.2010 (house no. 29-a on road no k-10,
admeasuring 250.5659 mtrs) |
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Date of
instrument Creating the charge |
29.04.2010 |
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Amount secured by
the charge |
Rs.220.600
Millions |
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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: 1. Cc - Rs.
62.500 Millions 2. Revolving Loan
Limit Against 3. Supply Bill
Financing Against Receivables From Hero Honda Motors Limited.- Rs. 15.000
Millions 4. Lc- Rs. 35.000
Millions 4(A). Bg- Rs.
05.000 Millions, Sublimit Of Lc 5. TL i- Rs.
30.500 Millions 6. TL ii- Rs.
05.000 Millions 7. TL iii- Rs.
20.600 Millions 7 (A). Lc - Rs.
10.000 Millions, Sublimit Of Term Loan iii 8. TL iv- Rs. 32.000 Millions |
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First And
Exclusive Charge On All Existing And Future Current And Moveable Fixed Assets
Of The Borrower Exclusive Charge By Way Of Equitable Mortgage On The Immovable
Properties Being Company L ad B Bearing No. 52 Admeasuring 7875 Sq. Mtrs.
Situated At, Sector-3, Industrial Estate Ch. Devilal Imt Manesar Dist.
Gurgaon, Haryana Bounded As:- North: Road East: Plot No.-
51 South: Plot No.-
49 West: Plot No.-
53 Together With All
Building, Structure, If Any Affixed To The Earth Or Permanently Affixed To
Something Attached To The Earth Another Piece And Parcel Of Immovable
Property Being House No. 29-A On Road No K-10, Admeasuring 250.5659 Mtrs.,
(299 Sq. Yards) Having Covered Area 5200 Sq. Ft., Situated In The Residential
Colony, Dlf Qutab Enclave, Gurgaon, Bounded As:- Ease: Road West: Plot No.
K-11/24 North: Plot No.
K-10/30 South: Plot No.
K-10/29 Together With All
Building, Structure, If Any Affixed To The Earth Or Permanently Affixed To
Something Attached To The Earth Negative Lien And Deposit Of Title Deeds Of
The Company Land And Building At Plot No. 102-103, Udyog Vihar, Phase- Iv,
Gurgaon Personal Guarantee Of Mr. Jp Minda, Mr. Anil Minda, Mr. Ashwani Minda
And Mrs. Kalpna Minda |
Fixed Assets:
- Land
- Building
- Machinery
- Dies and
Fixture
- Testing
Equipment
- Generator
- Electric
Fitting
- Office
Equipment
- Vehicles
- Computers
- Cycles
WEBSITE DETAILS:
Subject was set
up in 1974 to manufacture a host of quality Automotive Electrical and
Electronic Components. Constant strive for quality have made their products
acceptable to leading OEM's like Maruti Udyog , Hyundai Motors, Ford, Hindustan
Motors, Hero Honda, Honda Scooters, Bajaj Auto, Kinetic Motors, Fiat etc.,
The company
manufactures electronic and electrical auto parts like ignition coils, actuators, relay assembly starters,
flasher
relays, washer motors, central door
locking systems etc .for cars
and two wheelers.
History
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 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.44.20 |
|
|
1 |
Rs.72.26 |
|
Euro |
1 |
Rs.63.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.