MIRA
INFORM REPORT
|
Report Date : |
05.01.2010 |
IDENTIFICATION DETAILS
|
Name : |
AMPHENOL INTERCONNECT INDIA PRIVATE LIMITED |
|
|
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Registered
Office : |
Plot No.105, Post Box No.1, Bhosari Industrial Area, Bhosari, Pune –
411026, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
20.02.1970 |
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Com. Reg. No.: |
014544 |
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CIN No.: [Company Identification
No.] |
U32109MH1970PTC014544 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA06007B |
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|
|
PAN No.: [Permanent Account No.] |
AACCA3419J |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of
Electronic and interconnect
products. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 4494744 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Atish |
|
Designation : |
Accounts Executive |
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Contact No.: |
91-20-30688314 |
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|
|
|
Name : |
Mr. Kailash J |
|
Designation : |
Accounts Manager |
|
Date : |
08.10.2010 |
LOCATIONS
|
Registered
Office/Factory/Marketing Head Quarters : |
Plot No.105, Post Box No.1, Bhosari Industrial Area, Bhosari, Pune –
411026, |
|
Tel. No.: |
91-20-306688312/ 27120481 / 30688304 / 30688350 / 353 / 373 |
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Fax No.: |
91-20-27120581/ 27129158 / 30688321 |
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E-Mail : |
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Website : |
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Regional Office : |
Northern Region Contact:
Central Region Western Region Southern Region |
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Factory 1 : |
Plot no 61, |
|
Tel. No.: |
91-80-30283900, 28520178 (Shrikant Gramopadhye (Operations
Manager)) |
|
Fax No.: |
91-80-28520418 |
|
E-Mail : |
DIRECTORS
|
Name : |
Dr. Martin H Present |
|
Designation : |
Chairman |
|
Address : |
58, |
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Date of Birth/Age : |
24.10.1944 |
|
Date of Appointment : |
01.09.84 |
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|
|
|
Name : |
Mr. Marco A Wadia |
|
Designation : |
Director |
|
Address : |
Thakur House, 173, |
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Date of Birth/Age : |
30.01.1956 |
|
Date of Appointment : |
22.05.1999 |
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|
|
|
Name : |
Mr. Luc Walter |
|
Designation : |
Director |
|
Address : |
21B, Pilgrim’s Harbor, |
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Date of Birth/Age : |
29.05.1958 |
|
Date of Appointment : |
20.06.2005 |
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|
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|
Name : |
Mr. Robert D John |
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Designation : |
Whole Time Director |
|
Address : |
B-409, |
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Date of Birth/Age : |
07.08.1958 |
|
Date of Appointment : |
09.06.2001 |
KEY EXECUTIVES
As on 29.09.2009
|
Name : |
Mr. Sunil Yadav |
|
Designation : |
Dy. Manager –Sales |
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|
Name : |
Mr. P R Prasad |
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Designation : |
Regional Manager |
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|
Name : |
Mr. Sunil Patil |
|
Designation : |
Regional Manager |
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|
Name : |
Mr. K Manoj |
|
Designation : |
Regional Manager |
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|
Name : |
Shrikant Gramopadhye |
|
Designation : |
Operations Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2009
|
Names of Shareholders |
Address |
No. of Shares |
|
Amphenol Corporation |
358, Hall Avenue, P O Box No.384,
Wallingford, CT – 06492-0384, United States of America |
28160 |
|
LPL Technologies Holding GmbH |
10 August – |
42240 |
|
Total |
|
70400 |
As on 29.09.2009
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of
Electronic and interconnect
products. |
GENERAL INFORMATION
|
No. of Employees : |
500 (In office 150 + In factory 350) (Confirmed by Accounts Manager –
Mr. Kailash J) |
|
|
|
|
Bankers : |
State Bank of Travancore, Deccan Gymkhana, Pune Branch, Maharashtra -
411004, |
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|
|
Facilities : |
-- |
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|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
706, B Wing, 7th Floor, ICC Trade Tower, Senapati Bapat
Road, Pune – 411016, Maharashtra, India |
|
Tel. No.: |
91-20-66244600 |
|
Fax No.: |
91-20-66244605 |
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|
|
|
Holding Company : |
LPL Technologies Holding |
CAPITAL STRUCTURE
AS ON 31.03.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000 |
Equity Shares |
Rs.100/- each |
Rs.7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
70400 |
Equity Shares |
Rs.100/-
each |
Rs.7.040
Millions |
|
|
|
|
|
- 42,240 Equity Shares (Previous year 42,240) are held by the holding company VIZ LPL Technologies Holding GmbH and 28.160 (Previous year 28,160) equity shares are held by the ultimate holding company VIZ Amphenol Corporation
- 7,500 (Previous year 7,500) equity shares were allotted as fully paid p pursuant to a contract without payment being received In cash
- 26,400 equity shares (Previous year 26,400) were allotted as fully paid up by way of Bonus Shares by capitalisation of the General Reserve
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 (15 Months) |
31.12.2007 |
31.12.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.040 |
7.040 |
7.040 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1116.646 |
877.041 |
605.130 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1123.686 |
884.081 |
612.170 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.084 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.084 |
|
|
DEFERRED TAX LIABILITIES |
15.830 |
13.445 |
7.891 |
|
|
|
|
|
|
|
|
TOTAL |
1139.516 |
897.526 |
620.145 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
441.378 |
299.842 |
197.845 |
|
|
Capital work-in-progress |
2.366 |
3.667 |
1.527 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.003 |
0.164 |
0.163 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
320.710
|
266.297 |
208.695 |
|
|
Sundry Debtors |
534.905
|
526.894 |
393.276 |
|
|
Cash & Bank Balances |
171.589
|
53.263 |
42.288 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
118.912
|
75.833 |
39.617 |
|
Total
Current Assets |
1146.116
|
922.287 |
683.876 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
252.968
|
301.436 |
243.003 |
|
|
Other Current Liabilities |
8.241
|
7.374 |
3.888 |
|
|
Provisions |
189.138
|
19.624 |
16.375 |
|
Total
Current Liabilities |
450.347
|
328.434 |
263.266 |
|
|
Net Current Assets |
695.769
|
593.853 |
420.610 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1139.516 |
897.526 |
620.145 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.12.2007 |
31.12.2006 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1601.680 |
1286.405 |
|
|
|
Other Income |
|
29.681 |
29.630 |
|
|
|
TOTAL (A) |
|
1631.361 |
1316.035 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
|
1175.910 |
973.062 |
|
|
|
Purchase of Trading Products |
|
2.476 |
4.585 |
|
|
|
Increased / (Decreased) in stock |
|
(6.067) |
(50.757) |
|
|
|
TOTAL (B) |
|
1172.319 |
926.890 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
459.042 |
389.145 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
2.392 |
1.697 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
456.650 |
387.448 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
36.238 |
28.381 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
420.412 |
359.067 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
146.890 |
131.104 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
273.522 |
227.963 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
444.789 |
216.826 |
|
|
|
|
|
|
|
|
|
Less |
TRASITIONAL
LIABILITY PROVIDED AS PER AS 15 GRATUITY |
|
1.136 |
0.000 |
|
|
Less |
LEAVE ENCASHMENT
|
|
0.474 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
716.701 |
444.789 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
3885 |
3238 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.12.2007 |
31.12.2006 |
|
PAT / Total Income |
(%) |
NA
|
16.77 |
17.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
26.24 |
27.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
34.39 |
40.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.47 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.40
|
0.37 |
0.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.54
|
2.80 |
2.59 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
Rs.
In Millions 31.03.2009 |
Rs.
In Millions 31.12.2007 |
Rs.
In Millions 31.12.2006 |
|
Advanced from customers |
18.350 |
24.157 |
23.221 |
|
Sundry Creditors Trade (Includes Rs.85.867 millions payable to companies under same
management previous year Rs.119.536 millions |
200.656 |
245.668 |
196.477 |
|
Others |
33.960 |
31.609 |
23.305 |
FORM 8:
|
Corporate
identity number of the company |
U32109MH1970PTC014544 |
|
Name of the
company |
AMPHENOL
INTERCONNECT INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.105, Post Box No.1, Bhosari Industrial Area, Bhosari, Pune –
411026, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Hypothecation |
|
Particular of
charge holder |
STATE BANK OF
TRAVANCORE |
|
Amount secured by
the charge |
Rs.40.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Present Rate
Being 2.25% Above Plr I.E. 15.25% + Applicable Interest Tax. Effective Rate
15.55%P.A. Subject To Change From Time To Time. |
|
Particulars of
the property charged |
Hypothecation By
Way Of First Charge On Present And Future Goods, Book Debts, And All Other
Movable Assets Of The Borrower Including Documents Of The Title Of Goods,
Outstanding Monies, Receivables Etc. Bills Invoices, Documents, Contracts,
Insurance, Polices, Guaranties, Engagements, Security Investments And Rights
And The Present Machinery Listed In Annexure Thereto And All Future Machinery Belonging To Or In Possation Or
Under The Contract Of The Borrower. |
|
Date of
instrument modifying the charge |
10/07/2006 |
|
Particulars of
the present modification |
Bank Guarantee
Incresed From 40.000 millions To 60.000 millions, Margin 10%, Tenor Maximum
48 Months, Charges 0.30% Per Quarter Or Part Thereof Irrespective Of Bg
Amount, 100% Margin To Be Obtain From Disputed Liab |
FIXED ASSETS:
- Buildings
- Plant and Machinery
- Tooling
- Vehicles
- Furniture and Fixtures
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.44.84 |
|
|
1 |
Rs.69.32 |
|
Euro |
1 |
Rs.59.79 |
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 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
58 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.