MIRA
INFORM REPORT
|
Report Date : |
21.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUNBEAM AUTO PRIVATE LIMITED (w.e.f. 19.05.2010) |
|
|
|
|
Formerly Known
As : |
SUNBEAM AUTO LIMITED (w.e.f. 12.09.1996) SUNBEAM CASTINGS LIMITED |
|
|
|
|
Registered
Office : |
38/6 K. M. Stone Delhi Jaipur Highway Narshingh Pur, P. O. Box No.7,
District Gurgaon -122 001, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.05.1996 |
|
|
|
|
Com. Reg. No.: |
05-33093 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.55.322 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27104HR1996PTC033093 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKS04348B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS2948F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Die Cast Automotive Components for Two Wheelers. |
|
|
|
|
No. of Employees
: |
1600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track. General financial
position is good. Trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. K. D. Seth |
|
Designation : |
Deputy General Manager in Finance |
|
Contact No.: |
91-124-4129215 |
|
Date : |
13.12.2011 |
LOCATIONS
|
Registered Office/Factory 1 : |
38/6 K. M. Stone Delhi Jaipur Highway Narshingh Pur, P. O. Box No.7,
District Gurgaon -122 001, |
|
Tel. No.: |
91-124-4129200 / 26 / 66 |
|
Fax No.: |
91-124-4129751-52 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
20 Acres |
|
Location : |
Owned |
|
|
|
|
Head Office : |
323/A, |
|
Location : |
Rented |
|
|
|
|
Factory 2 : |
Industrial Area, Tapukara, District Alwar, Bhiwadi – 301 707, |
|
Area : |
10 Acres |
DIRECTORS
As on 21.09.2011
|
Name : |
Mr. Ashok Kumar Munjal |
|
Designation : |
Managing Director |
|
Address : |
40, Ghitorni, Opposite National Building Construction Corporation
Limited, Mehrauli, |
|
Date of Birth/Age : |
14.02.1951 |
|
Qualification : |
LLB |
|
Date of Appointment : |
07.05.1996 |
|
DIN No.: |
00003843 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U65921PB1981PTC004730 |
Bhagyoday
Investments Private Limited |
Director |
26-11-81 |
26-11-81 |
20-05-10 |
Active |
NO |
|
2 |
U74140DL1987PLC026696 |
Hero Financial
Services Limited |
Director |
01-08-87 |
01-08-87 |
07-09-09 |
Active |
NO |
|
3 |
L34101HR1985PLC020934 |
Munjal Showa
Limited |
Director |
02-01-89 |
02-01-89 |
- |
Active |
NO |
|
4 |
U74899DL1991PLC046774 |
Hero Fincorp
Limited |
Director |
20-12-91 |
20-12-91 |
04-03-11 |
Active |
NO |
|
5 |
U74899DL1995PLC065253 |
Hero Corporate Services
Limited |
Director |
09-02-95 |
09-02-95 |
20-05-10 |
Active |
NO |
|
6 |
U35999DL1996PLC075180 |
Krishna Ishizaki
Auto Limited |
Director |
04-01-96 |
04-01-96 |
13-11-09 |
Active |
NO |
|
7 |
U27104HR1996PTC033093 |
Sunbeam Auto
Private Limited |
Managing
director |
01-04-09 |
01-04-99 |
- |
Active |
NO |
|
8 |
U29299DL1998PLC093496 |
Hero Motors
Limited |
Director |
28-09-00 |
28-09-00 |
20-05-10 |
Active |
NO |
|
9 |
U93090DL2002PLC133214 |
Easy Bill
Limited |
Director |
07-09-02 |
07-09-02 |
20-05-10 |
Active |
NO |
|
10 |
U74140DL2004PLC125438 |
Hero Management
Service Limited. |
Director |
26-03-04 |
26-03-04 |
20-05-10 |
Active |
NO |
|
11 |
U74899DL1978PLC008890 |
Orient Craft
Limited |
Director |
26-06-06 |
24-05-06 |
- |
Active |
NO |
|
12 |
U80101DL2006PTC148682 |
Skh Education
Private Limited. |
Director |
04-11-06 |
04-11-06 |
- |
Active |
NO |
|
13 |
U74899DL1973PTC006774 |
Chandernagar
Chemicals And Minerals Private Limited |
Director |
07-04-07 |
07-04-07 |
31-12-07 |
Active |
NO |
|
14 |
U34300DL2008PTC177689 |
Hero Auto
Components Private Limited |
Director |
06-05-08 |
06-05-08 |
- |
Strike off |
NO |
|
15 |
U34100DL2010PTC204604 |
H and H
Industries Private Limited |
Director |
24-06-10 |
24-06-10 |
- |
Active |
NO |
|
16 |
U27101HR2010PTC041516 |
Sunglow
Industries Private Limited |
Director |
10-11-10 |
10-11-10 |
- |
Active |
NO |
|
17 |
U74999DL2010PTC210739 |
Maruti Insurance
Broking Private Limited |
Nominee director |
24-11-10 |
24-11-10 |
- |
Active |
NO |
|
|
|
|
Name : |
Ms. Neelam Munjal |
|
Designation : |
Director |
|
Address : |
40, Ghitorni, Opposite National Building Construction Corporation
Limited, Mehrauli, |
|
Date of Birth/Age : |
26.10.1954 |
|
Qualification : |
MA |
|
Date of Appointment : |
22.05.2010 |
|
DIN No.: |
00003850 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U67120PB1981PTC004752 |
Munjal
Investments Private Limited |
Director |
04-12-81 |
04-12-81 |
21-05-10 |
Active |
NO |
|
2 |
U34300DL2008PTC177689 |
Hero Auto Components
Private Limited |
Director |
06-05-08 |
06-05-08 |
- |
Strike off |
NO |
|
3 |
U27104HR1996PTC033093 |
Sunbeam Auto
Private Limited |
Director |
21-09-10 |
22-05-10 |
- |
Active |
NO |
|
4 |
U34100DL2010PTC204604 |
H and H Industries
Private Limited |
Director |
24-06-10 |
24-06-10 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Surinder Kumar Mehta |
|
Designation : |
Director |
|
Address : |
HM 147, Punjab Housing Board Colony, Jamalpur, |
|
Date of Birth/Age : |
06.12.1934 |
|
Date of Appointment : |
11.08.2001 |
|
DIN No.: |
00002888 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U27104HR1996PTC033093 |
Sunbeam Auto
Private Limited |
Director |
16-03-01 |
16-03-01 |
Active |
NO |
|
2 |
U35921PB1981PLC004729 |
Rockman
Industries Limited |
Director |
22-03-02 |
22-03-02 |
Active |
NO |
|
3 |
L34101HR1985PLC020934 |
Munjal Showa
Limited |
Director |
07-08-09 |
23-09-08 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Mahendra Pal Singh |
|
Designation : |
Secretary |
|
Address : |
House No. 1774, Sector – 4, Urban Estate, Gurgaon – 122 001, |
|
Date of Birth/Age : |
13.09.1958 |
|
Date of Appointment : |
28.11.2000 |
|
DIN No.: |
AHKPS6103R |
|
|
|
|
Name : |
Mr. K. D. Seth |
|
Designation : |
Deputy General Manager in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Kumar Munjal |
|
204060 |
|
Neelam Munjal |
|
55530 |
|
Neelam and Ashok Munjal |
|
36000 |
|
Ashok Kumar Munjal |
|
5236620 |
|
Total |
|
5532210 |
As on 21.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Die Cast Automotive Components for Two Wheelers. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Die Cast Automotive Components |
||||
|
Countries : |
·
·
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Machinery |
||||
|
Countries : |
·
·
·
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash |
||||
|
|
|
||||
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers : |
OEM’s ·
Hero Honda ·
Maruti |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
1600 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Citi Bank, ·
Kotak Mahindra Bank, ·
IDBI Bank, ·
Bank of ·
Yes Bank, |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. D. Bansal and Company Chartered Accountants |
|
Address : |
214, EMCA House, |
|
PAN No.: |
AABFB0018J |
|
|
|
|
|
Munjal Holdings |
|
|
|
|
|
Hero Cycles
Limited* |
|
|
|
|
Enterprises over
which key management personnel and his relatives are able to exercise significant
influence : |
·
Munjal Showa Limited* ·
Hero Motors Limited * ·
Satyam Auto Components Limited* ·
Bhagyoday Investment Private Limited* ·
Munjal Investments Private Limited* ·
Anadi Investment Private Limited* ·
Highway Industries Limited * ·
Hero Honda Finlease Limited * ·
Munjal Castings ·
Maruti Insurance Broking Private Limited |
|
|
|
|
Subsidiary : |
Sunglow Industries Private Limited |
* Related party
relationship with these companies ceases to exist during the year. However transactions
with them have been shown for whole of the financial year 2010-11.
CAPITAL STRUCTURE
As on 21.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7500000 |
Equity Share |
Rs.10/- each |
Rs.75.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5532210 |
Equity Share |
Rs.10/- each |
Rs.55.322
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
55.322 |
55.322 |
55.322 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1411.876 |
1154.195 |
1044.265 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1467.198 |
1209.517 |
1099.587 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
517.643 |
200.418 |
426.438 |
|
|
2] Unsecured Loans |
0.000 |
540.000 |
142.590 |
|
|
TOTAL BORROWING |
517.643 |
740.418 |
569.028 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1984.841 |
1949.935 |
1668.615 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1344.666 |
869.083 |
874.700 |
|
|
Capital work-in-progress |
166.587 |
79.497 |
43.042 |
|
|
|
|
|
|
|
|
INVESTMENT |
14.453 |
15.496 |
17.788 |
|
|
DEFERREX TAX ASSETS |
65.973 |
68.981 |
55.954 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
564.805
|
615.647 |
665.903 |
|
|
Sundry Debtors |
1434.104
|
1336.698 |
975.475 |
|
|
Cash & Bank Balances |
42.531
|
68.784 |
31.000 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
248.586
|
168.049 |
190.118 |
|
Total
Current Assets |
2290.026
|
2189.178 |
1862.496 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
892.607
|
869.092 |
966.680 |
|
|
Other Current Liabilities |
946.807
|
371.286 |
186.838 |
|
|
Provisions |
57.448
|
31.922 |
31.847 |
|
Total
Current Liabilities |
1896.862
|
1272.300 |
1185.365 |
|
|
Net Current Assets |
393.164
|
916.878 |
677.131 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1984.843 |
1949.935 |
1668.615 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Sales |
11021.871 |
7616.769 |
7825.169 |
|
|
|
Other Income |
|
64.170 |
66.186 |
|
|
|
TOTAL |
11021.871 |
7680.939 |
7891.355 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other Expenses |
NA |
7125.882 |
7438.448 |
|
|
|
TOTAL |
NA |
7125.882 |
7438.448 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
NA |
555.057 |
452.907 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
NA |
125.070 |
76.466 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
661.535 |
429.987 |
376.441 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
242.774 |
214.985 |
247.311 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
418.761 |
215.002 |
129.130 |
|
|
|
|
|
|
|
|
|
|
TAX |
124.150 |
84.678 |
47.432 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
294.611 |
130.324 |
81.698 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD TAX
ADJUSTMENT |
0.000 |
0.000 |
(7.473) |
|
|
|
|
|
|
|
|
|
|
INCOME
PERTAINING TO PREVIOUS YEAR |
1.648 |
(0.977) |
(8.108) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
897.238 |
692.184 |
809.070 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed dividend |
33.193 |
16.597 |
13.831 |
|
|
|
Tax on Proposed dividend |
5.385 |
2.821 |
2.350 |
|
|
|
Transfer / (reversal) to/from hedging
reserve |
(4.298) |
(108.225) |
158.652 |
|
|
|
Transfer to general reserve |
0.000 |
13.100 |
8.170 |
|
|
BALANCE CARRIED
TO THE B/S |
1150.622 |
897.238 |
692.184 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
53.25 |
23.38 |
11.95 |
|
Expected Sales (2011-2012) : Rs.11000.000 millions
The above information has been parted by Mr. K. D. Seth
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.67
|
1.70 |
1.04 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
2.82 |
1.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.52
|
7.03 |
4.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.18 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.65
|
1.66 |
1.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.72 |
1.57 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
-- |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
-- |
|
Estimation for coming financial year |
Yes |
|
Capital in the business |
Yes |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
-- |
|
Major Customers |
Yes |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
Yes |
|
Market Information |
-- |
|
Litigations that the firm/ Promoters Involved in |
-- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
-- |
|
Buyer visit details |
-- |
|
Financials, if provided |
No |
|
Incorporation details is applicable |
-- |
|
Last Accounts filed at ROC |
-- |
|
Major Shareholders, if available |
-- |
COMPANY’S BACKGROUND
Subject was
incorporated on 2nd May, 1996 as Sunbeam Castings Limited
(subsequently changed to Sunbeam Auto Limited). M/s. Sunbeam Castings (A unit
of Highway Cycle Industries Limited) was established in 1986 for manufacture of
Aluminium Die Cast Components in Gurgaon, Haryana. The unit was transferred to
company on a going concern basis on 1st April, 1999. Consequent to
resolution by resolution by circulation passed by the Directors on 5th
April 2010 and subsequent approval by the Shareholders in their meeting dated
29th April 2010 the name of the Company is changed from Sunbeam Auto
Limited to Sunbeam Auto Private Limited.
OPERATIONS
The Company
registered Gross Sales turnover of Rs.11021.871 millions as against Rs.8577.390
millions thus registering an increase of 28.50% over previous year. In
quantitative terms, the sales increased from 32185 MTs to 34751 MTs which is
7.97% higher over last year.
The exports also
made impressive growth in current year. The export stood at Rs.845.400 millions
as against Rs.487.300 millions of last year registering an increase of 73.47%
over last year. With the growth in turnover the profitability also improved.
Profit before Tax stood at Rs.418.761 millions as against Rs.215.002 millions
of last year.
FUTURE PROSPECTS
With the growth in
business the Company is encouraged to take rapid strides in implementing
BHIWADI Project. Out of two locations at TAPUKARA and KAHARANI, the Company has
planned to implement TAPUKARA Plant first and after commissioning this plant
would review and take final decision on implementation of KAHARANI Plant. The
demand from domestic and exports segment is good and they are taking steps for
business augmentation with existing and new customers.
The 100% Export
Oriented Unit which was implemented in 2004 is being planned to be debonded.
This unit was Net Foreign Exchange Earner since inception and has complied /
fulfilled all export obligations. The new export orders / enquiries would
continue to be allocated between Gurgaon / Bhiwadi unit depending on
infrastructure availability to give better services to the customer.
CONTINGENT LIABILITIES
|
Particulars |
As on 31.03.2011 Rs. in millions |
|
Against bank guarantees in favour of Sales tax and Custom authorities |
47.810 |
|
Against Corporate Guarantee to Sales tax authorities on behalf of
other corporates |
24.182 |
|
Against B-17 EOU Bond |
80.305 |
|
Letter of Credit |
170.010 |
|
Custom duty Liability against EPCG Licences |
29.032 |
FORM 8
|
Corporate identity number of the company |
U27104HR1996PTC033093 |
|
Name of the company |
SUNBEAM AUTO Private Limited |
|
Address of the registered office or of the principal place of business in |
38/6 K.M. STONE |
|
This form is for |
Modification
of charge |
|
Charge identification (ID) number of the charge to be modified |
10209846 |
|
Type of charge |
Immovable
property |
|
Particular of charge holder |
Citibank N.A |
|
Nature of instrument creating charge |
Supplemental Memorandum of Entry. |
|
Date of instrument Creating the charge |
22.07.2011 |
|
Amount secured by the charge |
Rs.200.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate
of interest As per sanction terms and as may be decided by the bank and company
mutually from time to time. Terms
of repayment Repayable on demand, annually renewable. Margin Borrower shall at all times during the continuance of the security
maintain sufficient amount to provide the margin of security as may from time
to time advised by the bank. Extent
and operation of the charge Second pari-passu charge on company's immovable properties situated at
38/6, KM Stone, |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Immovable properties situated at 38/6, KM Stone, |
|
Date of instrument modifying the charge |
12.03.2011 |
|
Particulars of the present modification |
By this modification the limit remains same at Rs. 200 Millions and the
charge is additionally secured by second pari-passu charge on company's
immovable properties situated at 38/6, KM Stone, |
TRADE REFERENCES
·
Hero Honda
·
Maruti
WEB DETAILS
Profile
Since the time of
its inception, subject has chosen to walk the path of discovery and innovation
in aluminium die casting business. Almost two decades of creating leadership in
supplying main line OE to all major automobile companies in Asian region, its
aiming to provide the best solutions.
The R and D department uses cutting-edge technology and has discovered
breakthrough solutions in die-cast products. In a short span, subject have reached
amazing growth rate. Its the first Indian Company with a meager capacity of
20,000 MT., per annum. To strengthen the research arm, the company have set up
a fully equipped modern Metallurgical Laboratory and R and D centre approved by
the Department of Science and Technology, Government of India.
Today, subject
caters to the ever-growing demand of auto majors including Hero Honda Motors
Ltd., Maruti Suzuki Limited, Munjal Showa Limited, Visteon Powertrain Control
Systems (India) Private Limited, Hero Briggs and Stratton Limited, Sona Koyo
Sterring Systems Limited, Danaher of USA, Denso (India) Limited, Sun Petri
Limited, Diamler Chrysler AG of Germany, to name a few. Sunbeam’s inherent
strength lies in identifying exact need of the automobile sector and
formulating customized solutions to all its clients from time to time. All this
has been possible because of company’s innovative and sustained marketing
efforts. Thus, all set to spread its wings further and achieve the best
business heights on the globe.
Since the time of
its inception, subject has chosen to walk the path of discovery and innovation
in aluminium die casting business. Almost two decades of creating leadership in
supplying main line OE to all major automobile companies in Asian region, its
aiming to provide the best solutions.
The R and D department uses cutting-edge technology and has discovered
breakthrough solutions in die-cast products. In a short span, Sunbeam have
reached amazing growth rate. Its the first Indian Company with a meager
capacity of 20,000 MT., per annum. To strengthen the research arm, the company
have set up a fully equipped modern Metallurgical Laboratory and R and D centre
approved by the Department of Science and Technology, Government of India.
Today, subejct
caters to the ever-growing demand of leading auto majors including Hero Honda
Motors Limited, Maruti Suzuki Limited, Munjal Showa Limited, Visteon Powertrain
Control Systems (India) Priavte Limited, Hero Briggs and Stratton Limited, Sona
Koyo Sterring Systems Limited, Danaher of USA, Denso (India) Limited, Sun Petri
Limited, Diamler Chrysler AG of Germany, to name a few. Sunbeam’s inherent
strength lies in identifying exact need of the automobile sector and
formulating customized solutions to all its clients from time to time. All this
has been possible because of company’s innovative and sustained marketing
efforts. Thus, all set to spread its wings further and achieve the best
business heights on the globe.
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.53.03 |
|
|
1 |
Rs.82.34 |
|
Euro |
1 |
Rs.69.00 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.