MIRA
INFORM REPORT
|
Report Date : |
21.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
IMPERIAL AUTO INDUS-TRIES LIMITED |
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Registered Office : |
202, Kusal Bazar, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
22.04.1975 |
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Com. Reg. No.: |
55-007737 |
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Capital Investment / Paid-up Capital : |
Rs.446.088 millions |
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CIN No.: [Company Identification
No.] |
U74899DL1975PLC007737 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
RTKI00449B |
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PAN No.: [Permanent
Account No.] |
AAACI0645J |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Manufacturers and Exporters of Motor Vehicle Parts, Hydraulic Parts, IC Engine Parts and other Auto Parts. |
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No. of Employees : |
Total: 900 (Manager:48, Engineers:107, C.Staff:86, Workers:659)
[Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
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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 4400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations are reported as 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
|
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 : |
202, Kusal Bazar, |
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Tel. No.: |
91-11-26419619 / 22619619 / 26412022 / 2412311 / 2423791 |
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Fax No.: |
91-11-26412736 / 2412136 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Location : |
Commercial |
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Corporate Office / Factory : |
Opposite Railway Goods Shed, |
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Tel. No.: |
91-129-2423791 / 2412311 / 2412736 |
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Fax No.: |
91-129-2412136 / 2428158 |
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E-Mail : |
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Area : |
Owned Land : 8500 sq. meters Building : 4550 sq. meters |
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Location : |
Industrial |
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Factory 2 : |
Plot No. 94, Sector 25, |
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Tel. No.: |
91-129-5062744/5062741/5062742/2441027 |
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Fax No.: |
91-129-2441028 |
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E-Mail : |
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Area : |
Land- 7040 sq. meters, Building – 3070 sq. meters |
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Factory 3 : |
Plot No. 32, Sector 27, |
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Tel. No.: |
91-129-2273692/2271792/2271146 |
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Area : |
Land- 1485 sq. meters, Building – 800 sq. meters |
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Location : |
Industrial |
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Factory 4 : |
Plot No. 83, Sector 25, |
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Tel. No.: |
91-129-2231148/2232993/5062744 |
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Fax No.: |
91-129-2441028 |
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Area : |
Land- 8780 sq. meters, Building – 4650 meters |
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Location : |
Industrial |
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·
Tel. No.: +1 586 415 0297 Fax No.: +1 586 415 6231 E-Mail : shawncox734@cs.com
·
HEL- |
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Warehouse : |
Located at : · Pune ·
·
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DIRECTORS
As On 30.09.2010
|
Name : |
Mr. Jagjit Singh Lamba |
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Designation : |
Chairman-cum-Managing Director |
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Address : |
9, Sector 16-A, |
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Date of Birth/Age : |
15.09.1938 |
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Date of Appointment : |
01.04.2005 |
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DIN No. : |
00109439 |
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Name : |
Mr. Sham Bihari Sardana |
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Designation : |
Managing director |
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Address : |
D-99, Panchsheel Enclave, |
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Date of Birth/Age : |
21.03.1944 |
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Date of Appointment : |
01.04.2005 |
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DIN No. : |
00109418 |
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Name : |
Mr. Ravinder Nath Malik |
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Designation : |
Director |
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Address : |
House No 15, Sector 16 A |
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Date of Birth/Age : |
20.02.1937 |
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Date of Appointment : |
28.09.1998 |
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DIN No. : |
00109448 |
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Name : |
Mr. Ravi Kant Pall |
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Designation : |
Director |
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Address : |
145, W- Block, Greater Kailash – I, |
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Date of Birth/Age : |
06.07.1941 |
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Date of Appointment : |
14.07.2008 |
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DIN No. : |
01229741 |
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Name : |
Mr. Vimal Amar Nath Kampani |
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Designation : |
Director |
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Address : |
B-1/31, Malviya Nagar, |
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Date of Birth/Age : |
24.02.1942 |
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Date of Appointment : |
09.02.2010 |
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DIN No. : |
01543054 |
KEY EXECUTIVES
|
Name : |
Ms. Poorti Sachdeva |
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Designation : |
Company Secretary |
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Address : |
957, Sector-14, |
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Date of Birth/Age : |
15.06.1978 |
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Date of Appointment : |
08.01.2008 |
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Date of Cessation : |
14.12.2009 |
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Pan No. : |
AAKPB4454K |
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Name : |
Mr. Vikram Mehra |
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Designation : |
Company Secretary |
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Address : |
502, Sabzaar Apartments, Sector 45, |
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Date of Birth/Age : |
25.01.1972 |
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Date of Appointment : |
14.12.2009 |
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Pan No. : |
AAUPM4954B |
MAJOR SHAREHOLDERS
As On 30.09.2010
|
Names
of Shareholders |
No. of Shares |
|
Vishan Devi |
730050 |
|
Sham Behari
Sardana |
17847050 |
|
Jagjit Singh
Karta of Jagjit Singh (HUF) |
395152 |
|
Jagjit Singh |
19904203 |
|
Manjeet lamba |
1806000 |
|
Sham
Bihari Sardana Karta of S B Sardana (HUF) |
1596100 |
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Manav Sardana |
302175 |
|
Shobha Sardana |
1298250 |
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Tarun Lamba |
442520 |
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Sham Bihari Sardana Karta
of P D Sardana (HUF) |
180750 |
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Tarun Lamba Karta
of Tarun Lamba HUF |
106500 |
|
Total |
44608750 |
As On 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Motor Vehicle Parts, Hydraulic Parts, IC Engine Parts and other Auto Parts. |
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Products : |
·
Fuel Injection Pipe Assemblies ·
Brake Tubes ·
Teflon Hose Assembly ·
Rigid and Fabricated Pipes ·
Low Pressure Flexible Hoses ·
High Pressure Hoses ·
Nylon Tubings ·
Multi Layer Hoses ·
Stainer Assemblies ·
Fuel and vaccume Hoses ·
Radiator Hoses ·
Moulded Components ·
CRDi Pipes ·
Piston Cooling Nozzle ·
Leak Off Pipe ·
Silicon Hoses ·
Power Steering Hoses ·
Hydraulic Brake Hoses ·
Crimped Branch Hoses
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Exports : |
·
·
·
·
·
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GENERAL INFORMATION
|
Suppliers : |
· Anand Engineering Works · Ansul Enterprises · Auto Tech Engineers ·
D K · Dharma Engineering Works · Ganesh Automatics ·
J ·
M J · Mamta Engineering Corporation ·
· Neha Engineering Works · Nidhi Engineering and fabricators · Preeti Industries · Rikki Plastic · V S Industries · Chawla Enterprises · S K Enterprises · Alpha Engineers · New Swan Enterprises ·
· Raj Industries · Santokh Industries 0 · Akash Auto Industries |
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Customers : |
·
Maruti
Udyog Limited ·
TELCO ·
Kirloskar
Oil Engines Limited ·
Escorts
Limited ·
Eicher
Tractors Limited ·
·
TAFE
(Eicher) · Boss Forklifts · Case Excavators · Caterpillar Engines · Cummins Engines · Daewoo Cars and Excavators · Dynapack · Fiat Uno Cars · General Motors · Honda Motorcycles · Hyundai Cars · Iveco Trucks · Jcb Loaders · John Deere Tractors · Komatsu Forklifts ·
· Massey Fergusson Tractors · Mazda Trucks · Mitsubishi Lancer Cars ·
New · Nissan Trucks · Perkins Engines · Peugot Cars · Peugot Engines for Jeeps · Suzuki Cars |
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No. of Employees : |
Total: 900 (Manager:48, Engineers:107, C.Staff:86, Workers:659)
[Approximately] |
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Bankers : |
·
Bank
of ·
Bank of ·
Citi Bank NA, Jeevan Vihar – III, Sansad Marg,
· Standard Chartered Bank, Credit Risk Control, Narain Manzil, 23 Barakhamba Road, New Delhi – 110001, Delhi, India · ICICI Bank Limited ·
The Hongkong and Shanghai Banking Corporation
Limited, Birla House, 25, ·
Indusind Bank Limited, Gopal Das Bhawan, 28, ·
Kotak Mahindra Bank Limited, 15-16, UGF Floor,
· DBS Bank Limited, Upper Ground Floor, Birla Tower, 25, Barakhamba Road, New Delhi – 110001, Delhi, India |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Rakesh Raj and Associates Chartered Accountants |
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Address : |
B-565, Sector – 7, |
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Tel. No.: |
91-129-2243491 |
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Fax No.: |
91-129-2243492 |
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Pan No. : |
AAEFR1998J |
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Associates : |
·
AI Industries Limited, Chakan, Pune,
Maharashtra, India · Eagle Picher Imperial Auto Industries Limited CIN No,: U34300DL1997PLC084252 Pune
(Now known as Imperial Auto Nylon Tubing’s Limited) ·
IAI Limited, Pune, ·
IAI Limited, ·
IAI Limited, |
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Group Companies : |
· Tokai Imperial Rubber India Private Limited · SJ Industries · Imperial Martor Engine Tubes Private Limited · IAI Joinflex Private Limited |
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Joint Venture : |
· Imperial Martor Engine Tubes Private Limited · Imperial Rubber Industries Private Limited |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
46458750 |
Equity Shares |
Rs.10/- each |
Rs.464.588 millions |
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
44608750 |
Equity Shares |
Rs.10/- each |
Rs.446.088 millions |
Notes:
i) Out of above shares 3797100 Equity shares were
allotted as fully paid up pursuant to scheme of takeover of running business
without payment being received in cash.
ii) Out of above shares 24365250 Equity Shares
were allotted (10854290 Equity Shares in F/Y 2004-05) were allotted as fully
paid up by way of bonus shares against full utilisation of reserve and
Capitalisation of accumulated profit upto financial year 2008.
iii) Out of above share 4000000 equity shares
have been issued under prefrentail allotment on dated 31.03.2010.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
446.088 |
406.088 |
406.088 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
658.782 |
501.267 |
449.225 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1104.870 |
907.355 |
855.313 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1773.586 |
1814.068 |
1786.842 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1773.586 |
1814.068 |
1786.842 |
|
|
DEFERRED TAX LIABILITIES |
33.624 |
27.752 |
24.505 |
|
|
|
|
|
|
|
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TOTAL |
2912.080 |
2749.175 |
2666.660 |
|
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
912.584 |
860.596 |
666.321 |
|
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Capital work-in-progress |
154.495 |
131.417 |
191.631 |
|
|
|
|
|
|
|
|
INVESTMENT |
123.400 |
108.400 |
99.029 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1053.611
|
872.234
|
646.677
|
|
|
Sundry Debtors |
1269.785
|
1133.950
|
1263.736
|
|
|
Cash & Bank Balances |
96.641
|
54.150
|
133.733
|
|
|
Other Current Assets |
400.452
|
354.477
|
394.921
|
|
|
Loans & Advances |
135.405
|
49.495
|
114.217
|
|
Total
Current Assets |
2955.894
|
2464.306
|
2553.284
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1029.658
|
682.552
|
|
|
|
Other Current Liabilities |
159.635
|
106.183
|
751.999
|
|
|
Provisions |
45.000
|
27.500
|
92.989
|
|
Total
Current Liabilities |
1234.293
|
816.235
|
844.988
|
|
|
Net Current Assets |
1721.601
|
1648.071
|
1708.296
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.691 |
1.383 |
|
|
|
|
|
|
|
|
TOTAL |
2912.080 |
2749.175 |
2666.660 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4930.979 |
3557.971 |
4257.110 |
|
|
|
Job work |
0.635 |
0.358 |
1.003 |
|
|
|
Transfer from government grant |
0.430 |
0.430 |
0.430 |
|
|
|
Other Income |
107.201 |
103.184 |
80.653 |
|
|
|
TOTAL (A) |
5039.245 |
3661.943 |
4339.196 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
3171.409 |
2156.900 |
2829.108 |
|
|
|
Manufacturing expenses |
785.804 |
616.273 |
576.172 |
|
|
|
Administrative expenses |
353.027 |
265.749 |
265.347 |
|
|
|
Selling and distribution expenses |
268.948 |
234.339 |
300.869 |
|
|
|
Deferred revenue expenditure written off |
0.691 |
0.691 |
0.691 |
|
|
|
Increase/Decrease in stocks |
(61.809) |
(13.290) |
(93.846) |
|
|
|
TOTAL (B) |
4518.070 |
3260.662 |
3878.341 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
521.175 |
401.281 |
460.855 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
192.551 |
209.148 |
114.519 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
328.624 |
192.133 |
346.336 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
119.785 |
111.231 |
72.279 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
208.839 |
80.902 |
274.057 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
50.872 |
30.747 |
97.957 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
157.967 |
50.155 |
176.100 |
|
|
|
|
|
|
|
|
|
|
TAX ADJUSTED FOR
EARLIER YEARS |
(0.022) |
2.318 |
(6.649) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
45.694 |
93.221 |
93.854 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
0.000 |
0.000 |
18.030 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
2.054 |
|
|
|
Transfer to General Reserve |
0.000 |
100.000 |
150.000 |
|
|
BALANCE CARRIED
TO THE B/S |
203.639 |
45.694 |
170.084 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
954.454 |
716.076 |
1191.689 |
|
|
TOTAL EARNINGS |
954.454 |
716.076 |
1191.689 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
753.290 |
592.304 |
703.559 |
|
|
|
Consumable dies and tools |
0.752 |
0.000 |
1.221 |
|
|
|
Capital Goods |
20.221 |
61.513 |
95.442 |
|
|
TOTAL IMPORTS |
774.263 |
653.816 |
800.222 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.54 |
1.29 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.13
|
1.37
|
4.06
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.24
|
2.27
|
6.44
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.54
|
2.43
|
8.51
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.09
|
0.32
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.72
|
2.90
|
3.76
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39
|
3.02
|
3.02
|
LOCAL AGENCY FURTHER INFORMATION
Business
Performance:
The company achieved total sales (in nos.) of 82.775 millions as against
54.286 millions registering a growth of 52.48% compared to 4.22% during the
previous fiscal. At the financial end, total sale (net of excise duty) of the
company increased by 38.59% from Rs. 3557.972 millions in 2008-09 to Rs.
4930.980 millions in 2009-10. The net profit of the company for the financial
year is Rs. 157.967 millions as against Rs. 50.155 millions in 2008-09.
Bankers Charges
Report as per Registry
|
Name of the company |
IMPERIAL AUTO INDUS-TRIES LIMITED |
|
1) Date and description of instrument creating the change |
Loan Agreement
dated October 23rd 2003l, which was registered on dated November 6th
2003 and further modified by Deed of Modification dated September 11th
2004, Which was registered by Deed of Modification dated October 8th
2004, and further modified by Deed of Modification dated March 24th
2005l, which was registered by Deed of Modification dated April 21st
2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Working Capital
Facility: Fund Based
Facility: Rs. 30.000 Millions Non Fund Based
Facility: Rs. 20.000 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First pari passu
charge by way of Equitable mortgage by Constructive delivery of Title Deeds
of property situated at Plant No. 32l, Sector 27, C Faridabad, the charge
being on pari passu basis with Bank of India and Bank of Baroda |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
·
Repayable
on Demand ·
Cash
Credit @ 9.00% p.a. ·
Other
interest rates as per RBI mandated rates specified from time to time |
|
5) Name and Address and description of the person entitled to the charge. |
Citi Bank NA, Jeevan Vihar – III, Sansad Marg, |
|
6) Date and brief description of instrument modifying the charge |
Deed of
modification December 15, 2005 |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Total Working
Capital facilities enhanced to Rs. 210.000 Millions All other terms and
conditions shall remain same. |
|
Corporate
identity number of the company |
U74899DL1975PLCO07737 |
|
Name of the
company |
IMPERIAL AUTO INDUS-TRIES LIMITED |
|
Address of the registered
office or of the principal place of
business in |
202, Kusal Bazar, |
|
This form is for |
Creation of
charge |
|
Type of charge |
· Immovable Property · Movable Property · Others |
|
Particular of
charge holder |
DBA Bank Limited, Upper Ground Floor, Birla Tower, 25, Barakhamba Road, New Delhi – 110001, Delhi, India E-mail: vikramrao@dbs.com |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 14.12.2010 on current assets and fixed assets for
facilities of INR 400.000 Millions |
|
Date of
instrument Creating the charge |
14.12.2010 |
|
Amount secured by
the charge |
Rs. 400.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
· Rate of interest – As mutually agreed · Terms of repayment - As per sanctioned
terms · Margin - As per sanctioned terms · Extent and operation of the charge The charge shall
cover the following facilities granted by the Bank to the Company |
|
Short particulars
of the property charged |
1st PP Charge over the entire current assets of the
Company, both present and future (including but not limited to book debts and
securities in trade) 1st PP Charge over the movable fixed assets of the
Company, both present and future. 1st PP charge over immoveable properties of
Company at Plot No. 32/27C, Plot No. 93/25 and Plot No. 13/6, |
FIXED ASSETS:
·
Land
and building
·
Furniture
and fittings
·
Machinery
·
Vehicles
·
Technical
know how
AS PER WEBSITE
Company Profile
- Established in the year 1969
- Largest Integrated manufacturer of ‘Fluid
Transmission Products’ (FTP’s)
- Eight dedicated manufacturing / assembly
plants
- Multi location manufacturing facilities
having diversified product portfolio
- Expected to cross Group Turnover of US $
155 Million (Rs. 700 Crores) by FY 2010-11
- 3000 employees
- ISO / TS 16949:2009 and ISO 14001:2004
certified company
- Strategic and Technical Alliances with
Major International Players in the Industry
- Global Presence and Scale
- Major supplier to most leading OEM’s
worldwide
- Overseas Warehousing Capability and
Facility
- High level of quality and commitment to
continuous improvement
History / Key
Milestone
1969
- Incorporated as a partnership firm for manufacturing low pressure
fuel hose assemblies and in the year 1998 got converted into Limited
Company
- Established Plant I
1970
- Initiated supplies to all the major domestic automotive players -
Mahindra and Mahindra, Tata Motors, Kirloskar, FIAT and Ambassador
- Started manufacturing Rubber Hoses in-house
1980
- Initiated supplies to international players setting up operations in
- Included Tubular Assemblies in its portfolio of products
1990
- Started supplies to most of the new multinationals entering the
Indian automotive market - New-Holland, Ford, FIAT, John-Deere, JCB,
Mitsubishi and General Motors
- Started manufacturing Hi-Pressure Hose Assemblies
- Got QS-9000 accreditation for all plants
- Established a dedicated Rubber Hose manufacturing unit and a
IIIrd Plant to manufacture High Pressure Tubes
2000
- Approved global supplier to International Truck, Cummins,
Caterpillar, JCB, John Deere and other OEM manufacturers overseas
- Established IInd Plant for Tubular assemblies, a dedicated unit for
Hydraulic Assemblies and added Nylon Extrusion in its
portfolio
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.44.99 |
|
|
1 |
Rs.72.60 |
|
Euro |
1 |
Rs.64.01 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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.