1. Summary Information
|
|
|
Country |
|
|
Company Name |
MTAR
TECHNOLOGIES PRIVATE LIMITED |
Principal Name 1 |
Mr. Akhilesh Krishna Gupta |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Simhardi Reddy P |
|
|
|
Registration # |
01-32836 |
|
Street Address |
18, Technocrats
Industrial Estate, Balanagar, |
||
|
Established Date |
11.11.1999 |
SIC Code |
-- |
|
Telephone# |
91-40-23708742 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-40-2307816 /
23078742 |
Business Style 2 |
Ball screws |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.282,139,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings (33.00%) Directors or relatives of
directors (66.68%) Other top fifty shareholders
(0.32%) |
Banking |
State Bank of |
|
Public Limited Corp. |
-- |
Business Period |
12 Years |
|
IPO |
-- |
International Ins. |
-- |
|
Public |
-- |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
|
-- |
Modular Tools Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,179,140,000 |
Current Liabilities |
425,209,000 |
|
Inventories |
332,588,000 |
Long-term Liabilities |
150,000,000 |
|
Fixed Assets |
991,101,000 |
Other Liabilities |
117,013,000 |
|
Deferred Assets |
000 |
Total Liabilities |
692,222,000 |
|
Invest& other Assets |
527,678,000 |
Retained Earnings |
2,056,146,000 |
|
|
|
Net Worth |
2,338,285,000 |
|
Total Assets |
3,030,507,000 |
Total Liab. & Equity |
3,030,507,000 |
|
Total Assets (Previous Year) |
2,842,932,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,102,532,000 |
Net Profit |
43,438,000 |
|
Sales(Previous yr) |
937,536,000 |
Net Profit(Prev.yr) |
171,233,000 |
MIRA
INFORM REPORT
|
Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
MTAR TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
18, Technocrats Industrial Estate, Balanagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
11.11.1999 |
|
|
|
|
Com. Reg. No.: |
01-32836 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.282.139 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200AP1999PTC032836 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDM01111F / HYDM02650E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM2021N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ball screws which are widely used in feeding mechanisms,
CNC machine tools, power reactors, highly accurate measuring instruments and
in other applications. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payment terms are
reported to be usually correct and as per commitments. The company can be considered normal for business 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
18, Technocrats Industrial Estate, Balanagar, |
|
Tel. No.: |
91-40-23708742 |
|
Fax No.: |
91-40-2307816 / 23078742 |
|
E-Mail : |
|
|
|
|
|
Factory : |
|
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. P Jayaprakash Reddy |
|
Designation : |
Whole Time Director |
|
Address : |
H. NO.7-1-214/9, Ameerpet, |
|
Date of Birth/Age : |
01.11.1939 |
|
Date of Appointment : |
11.11.1999 |
|
|
|
|
Name : |
Mr. K Satyanarayana Reddy |
|
Designation : |
Whole Time Director |
|
Address : |
H. NO.7-1-214/10, Ameerpet, |
|
Date of Birth/Age : |
01.10.1938 |
|
Date of Appointment : |
11.11.1999 |
|
DIN No. : |
00058220 |
|
|
|
|
Name : |
Mr. P Ravindra Reddy |
|
Designation : |
Whole Time Director |
|
Address : |
H. NO.7-1-214/9, Ameerpet, |
|
Date of Birth/Age : |
24.06.1938 |
|
Date of Appointment : |
11.11.1999 |
|
DIN No. : |
00058142 |
|
|
|
|
Name : |
Mr. N Rangachari |
|
Designation : |
Director |
|
Address : |
8, Ministers Bunglow Kundan Bagh, |
|
Date of Birth/Age : |
10.06.1938 |
|
Date of Appointment : |
18.03.2007 |
|
|
|
|
Name : |
Mr. Brig Sreeramulu |
|
Designation : |
Director |
|
Address : |
E-99, Sainik Puri, Kushaiguda, Rangareddy, District – 500094 |
|
Date of Birth/Age : |
01.07.1935 |
|
Date of Appointment : |
18.03.2007 |
|
|
|
|
Name : |
Mrs. P Kalpana Reddy |
|
Designation : |
Director |
|
Address : |
Plot No.60, Flat No.302, Jyothi Homes, |
|
Date of Birth/Age : |
28.07.1961 |
|
Date of Appointment : |
25.10.2007 |
|
|
|
|
Name : |
Mrs. M Madhavi Reddy |
|
Designation : |
Director |
|
Address : |
H. No.8-2-401/C/4 Road No.5, Banjara Hills, |
|
Date of Birth/Age : |
27.06.1969 |
|
Date of Appointment : |
25.10.2007 |
|
|
|
|
Name : |
Mrs. C Usha Reddy |
|
Designation : |
Director |
|
Address : |
H. No.8-2-693/2/22, Banjara Hills, |
|
Date of Birth/Age : |
13.12.1969 |
|
Date of Appointment : |
25.10.2007 |
|
|
|
|
Name : |
Mr. Akhilesh Krishna Gupta |
|
Designation : |
Director |
|
Address : |
Flat No.803, Taj |
|
Date of Birth/Age : |
20.07.1952 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No. : |
00359325 |
|
|
|
|
Name : |
Mr. Simhardi Reddy P |
|
Designation : |
Director |
|
Address : |
439, 11th Main, 3rd Block, Koramangala, |
|
Date of Birth/Age : |
14.05.1953 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No. : |
00380564 |
|
|
|
|
Name : |
Mr. Richard Blaise Saldanha |
|
Designation : |
Director |
|
Address : |
House No.24, Senor Valley, 13th Road, Filmnagar, Jubilee
Hills, Hyderabad – 500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
03.02.1944 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No. : |
00189029 |
|
|
|
|
Name : |
Mr. Mathew Cyriac |
|
Designation : |
Director |
|
Address : |
Kanchanjunga, Flat No.13, 12th Floor, 72 Peddar Rpoad,
Mumbai – 400026, |
|
Date of Birth/Age : |
20.05.1969 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No. : |
01903606 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
P Jayaprakash Reddy |
1454471 |
|
K Shalini |
2091477 |
|
P Leelavathi |
2386585 |
|
C Usha Reddy |
1204080 |
|
G Kavitha Reddy |
1204080 |
|
D Anitha Reddy |
1204070 |
|
A Manogna |
1043913 |
|
M Madhavi |
1043913 |
|
P Kalpana Reddy |
1324970 |
|
Saranya Loka Reddy |
1234265 |
|
K Vamshidhar Reddy |
2091477 |
|
|
1324960 |
|
P Girija |
1204080 |
|
Blackstone GPV Capital Partners ( |
3977975 |
|
Blackstone GPV Capital Partners ( |
3464887 |
|
Blackstone GPV Capital Partners ( |
1537183 |
|
Blackstone GPV Capital Partners ( |
330525 |
|
P S Reddy |
90975 |
|
TOTAL |
28213886 |
As on 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
33.00 |
|
Directors or relatives of directors |
|
66.68 |
|
Other top fifty shareholders |
|
0.32 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ball screws which are widely used in feeding
mechanisms, CNC machine tools, power reactors, highly accurate measuring
instruments and in other applications. |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
31.03.2010 |
|
Actual Production / unit sold (nos.) |
19894 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
State Bank of Balanagar Branch, Balanagar, |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
Notes: 1. Term loans are secured by equitable mortgage
of properties of the Company, corporate guarantees issued
by Montgate Manufacturer Private Limited and MTAR Metal Treatment System Private Limited, hypothecation of plant and machinery, charge on book debts and other current assets of the Company and personnel guarantees
of directors. 2.
Cash credit arrangements are secured by hypothecation of current
assets of the Company,
first charge on fixed assets and mortgage of land and buildings
of the Company and corporate guarantee issued by Montage Manufacturer
Private Limited and MTAR Metal Treatment Systems Private Limited |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R Company Chartered Accountant |
|
Address : |
Reliance Humsafar, IV Floor, Road No. 11, Banjara Hills, |
|
|
|
|
Subsidiaries : |
·
Modular Tools Private Limited CIN No. : U29219AP1993PTC016055 ·
Montage Manufacturer Private Limited CIN No. : U29268AP2009PTC065698 ·
MTAR Metal Treatment Systems Private Limited CIN No.: U27200AP2009PTC065696 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs. 10 each |
Rs.400.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
28213886 |
Equity Shares |
Rs. 10 each |
Rs.282.139
millions |
Notes:
1. Out of the above, 14040000 (previous year: 14040000) equity shares of
Rs.10 each have been allotted for considemtion other than cash pursuant to a
scheme of amalgamation of MARC
Manufacturers Private Limited with the Company.
2.
Out of the above, 12577500 (previous year: 12577500) equity shares of Rs.10 each are allotted as fully paid-up
bonus shares by capitalisation of securities premium account.
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 |
282.139 |
282.138 |
358.098 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2056.146 |
2012.708 |
1871.858 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2338.285 |
2294.846 |
2229.956 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
150.000 |
164.158 |
230.621 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
150.000 |
164.158 |
230.621 |
|
|
DEFERRED TAX LIABILITIES |
117.013 |
28.547 |
16.151 |
|
|
|
|
|
|
|
|
TOTAL |
2605.298 |
2487.551 |
2476.728 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
991.101 |
665.893 |
605.556 |
|
|
Capital work-in-progress |
193.317 |
282.427 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
334.361 |
653.891 |
1256.872 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
332.588
|
713.403
|
618.148 |
|
|
Goods in Transit |
0.000
|
0.000
|
10.706 |
|
|
Sundry Debtors |
211.993
|
265.751
|
142.085 |
|
|
Contract work-in-progress |
725.860
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
92.154
|
108.781
|
0.102 |
|
|
Other Current Assets |
0.000
|
0.000
|
161.311 |
|
|
Loans & Advances |
149.133
|
152.786
|
158.852 |
|
Total
Current Assets |
1511.728
|
1240.721
|
1091.204 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13.317
|
7.881
|
30.335 |
|
|
Other Current Liabilities |
403.454
|
347.000
|
405.278 |
|
|
Provisions |
8.438
|
0.500
|
45.042 |
|
Total
Current Liabilities |
425.209
|
355.381
|
480.655 |
|
|
Net Current Assets |
1086.519
|
885.340
|
610.549 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
3.751 |
|
|
|
|
|
|
|
|
TOTAL |
2605.298 |
2487.551 |
2476.728 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from operations |
1102.532 |
937.536 |
431.610 |
|
|
|
Other Income |
16.829 |
74.908 |
27.218 |
|
|
|
TOTAL (A) |
1119.361 |
1012.444 |
458.828 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Net (increase)/decrease in stock |
328.015 |
7.395 |
(207.770) |
|
|
|
Material costs |
221.241 |
391.673 |
180.805 |
|
|
|
Manufacturing costs |
89.260 |
79.603 |
65.619 |
|
|
|
Personnel costs |
184.416 |
151.203 |
128.290 |
|
|
|
Administration and Selling Expenses |
0.000 |
0.000 |
64.565 |
|
|
|
Operating and other expenses |
66.515 |
65.687 |
0.000 |
|
|
|
Preliminary expenses written off |
0.000 |
0.000 |
1.019 |
|
|
|
Prior period items (net) |
13.510 |
0.345 |
0.308 |
|
|
|
TOTAL (B) |
902.957 |
695.906 |
232.836 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
216.404 |
316.538 |
225.992 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
CHARGES (D) |
17.132 |
31.294 |
31.222 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
199.272 |
285.244 |
194.770 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
45.846 |
32.933 |
28.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
153.426 |
252.311 |
166.750 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
109.988 |
81.078 |
49.791 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
43.438 |
171.233 |
116.959 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
457.776 |
362.503 |
245.544 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to capital redemption reserve |
0.000 |
75.960 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
501.214 |
457.776 |
362.503 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
29.684 |
68.498 |
NA |
|
|
TOTAL EARNINGS |
29.684 |
68.498 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
116.766 |
145.745 |
NA |
|
|
|
Raw Materials |
83.223 |
251.438 |
NA |
|
|
|
Consumables and Spares |
7.417 |
8.395 |
NA |
|
|
TOTAL IMPORTS |
207.406 |
405.578 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) - Before prior
period items - After prior period items |
3.74 1.54 |
4.80 4.79 |
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.88
|
16.91 |
25.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.92
|
26.91 |
38.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.13
|
13.23 |
9.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.11 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.25
|
0.23 |
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.56
|
3.49 |
2.27 |
LOCAL AGENCY FURTHER INFORMATION
OVERVIEW
Subject was formed as a partnership firm in the year ended 31 March 1970.
The partnership firm was converted into a private limited company in the year
ended 31 March 1999 with its registered office in
SEGMENT WISE
REVENUE AND DISCUSSIONS
The total income from operations increased by 17.60% compared to
previous financial year. The total income from operations include movement of
contract works in progress by Rs.725.860 millions recognized as revenue as per
the change accounting policy for Revenue recognition AS7. The Company defines
its revenue in certain major segments. The breakup of the revenue, segment wise
and comparison with the previous year is being provided hereunder :
|
Segments |
FY
10 (Rs.
in millions) |
FY
09 (Rs.
in millions) |
Change
YOY (%) |
|
Aerospace |
136.371 |
93.656 |
45.6% |
|
Defence |
52.659 |
99.517 |
47.1% |
|
Nuclear |
869.702 |
662.855 |
31.2% |
|
Others |
13.238 |
13.198 |
0.3% |
|
MNC |
30.289 |
68.310 |
(55.7%) |
|
Total |
1102.259 |
937.536 |
17.6%
|
The movement in contract works in progress is being provided as under
:
|
Segments |
FY
10 (Rs.
in millions) |
|
Aerospace |
15.023 |
|
Nuclear |
710.837 |
|
Total |
725.860 |
The major reason for delays in actual dispatches are attributable to
design changes by customers, shipping release from Customers, production delays
as the projects are R and D jobs.
COMMITMENTS AND CONTINGENT LIABILITIES
|
Particulars |
As
on 31.03.2010 Rs.
in millions |
As
on 31.03.2009 Rs.
in millions |
|
Bank guarantees issued by bank |
557.639 |
608.934 |
|
Letters of credit issued by bank |
50.596 |
79.314 |
|
Estimated amount of contracts remaining to be executed on capital account, net of advances |
132.433 |
204.463 |
|
Claims against the Company not
acknowledged as debt in respect of income tax matters, pending decisions on various appeals made
by the Company |
41.719 |
41.719 |
FORM 8
|
This form is for |
Modification of charge |
|
Charge identification number of the modified |
90127605 |
|
Corporate identity number of the company |
U72200AP1999PTC032836 |
|
Name of the company |
MTAR TECHNOLOGIES PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
18, Technocrats Industrial Estate, Balanagar, |
|
Type of charge |
·
Immovable property ·
Book debts ·
Movable property ·
Floating charge |
|
Particular of charge holder |
State Bank of Balanagar Branch, Balanagar, |
|
Nature of description of the instrument creating or modifying the
charge |
1) Supplemental Agreement of Hypothecation of Goods and Assets for
increase in the overall Limit 2) Memorandum for recording extension of mortgage by deposit of title
deeds covering enhanced limits and/or creation of equitable mortgage on
additional properties for existing limits and enhanced limits and additional
facilities 3) Letter regarding the grant
of individual limits within the overall limit 4) Supplemental Agreement of loan for increase in the overall limit |
|
Date of instrument Creating the charge |
25.02.2011 |
|
Amount secured by the charge |
Rs.1720.000 millions |
|
Brief particulars of the principal terms an conditions and extent and
operation of the charge |
Rate of interest CC: At 4.25% above Base Rate, Base Rate = 8.25%, SLC: at 1.00% above
rate applicable to CC, TL- at 4.75%
above Base Rate. Terms of repayment 1) Working Capital : On demand. 2) Term Loan : Repayable in 3 annual installments of Rs.90.0000 millions
each in Dec 2011, Dec 2012 and Dec 2013. Margin 1) Raw Materials - 25% 2) Stock-in-process - 40% 3) Finished goods - EPC - 10% 4) Term Loan - 33% 5) Book debts / receivables (Cover period 90 days) - 40% 6) Bank Guarantee - 5% 7) Letter of Credit - 10% Extent and operation of the charge The charge operates as security, inter alia, for the due repayment by
the company to the State Bank of India, Balanagar Branch, Hyderabad for its
limits sanctioned to the extent of Rs.1720.000 millions, together with
interest, additional interest, liquidated damages, commitment charges, premia
on prepayment or on redemption, costs, charges, expenses and all other moneys
payable by the Company to State Bank of India, Balanagar Branch, Hyderabad. |
|
Short particulars of the property charged |
1.
Hypothecation of Exclusive first charge on all
the current assets of the company namely stocks, stores and spares not
relating to Plant and Machinery (Consumable stores and spares) Bills
Receivables 2.
and book debts and all other current assets of
the borrower. 3.
Hypothecation of the whole of the movable
properties of the company (Fixed Assets) including its movable Plant and
Machinery whether to the earth or otherwise, machinery spares, 4.
tools and accessories and others. 5.
EM of all that part and parcel of land and G + 5
storied RCC building at S. No.149, D. No.1A, IDA, Gandhi Nagar, Qutbullapur
Mandal, Hyderabad to an extent of 12957.50 Sq. yds or Ac. 2.75 gts. 6.
EM of all that part and parcel of land and G +1
storied RCC building at S. No.149, D. No.1A, IDA, Gandhi Nagar, Qutbullapur
Mandal, Hyderabad to an extent of 11963.00 Sq. yds or Ac. 2.50 gts. 7.
EM of all that part and parcel of land and GI
sheet roof in One Floor and RCC building in three floors at Plot No. 97 and
100A, Sy. No.374, IDA, Gandhi Nagar, Qutbullapur Mandal, 8.
of 9631.60 Sq. yards. 9.
EM of all that part and parcel of land and 3
storied building at Plot No.18, Sy. No.1, 2, 3, 40, 41, 42 and 43, TIE,
Balanagar, 10.
All the above properties are standing in the name
of the Company. |
|
Particulars of the present modification |
The existing limits of Rs.990.000 millions is enhanced to Rs.1720.000
millions. The details of the individual
limits are as under: (Amount Rs. in millions) 1. CC : Rs.250.000, 2. EPC / PCFC : Rs.100.000, 3. FBD / EBR -
Rs.50.000, 4. SLC : Rs.50.000, 5. Term Loan : Rs.270.000, 6. LC - Rs.150.000
and 7. BG - Rs.850.000. Total Limits Rs.1720.000 millions. |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and machinery
·
Electrical Equipments
·
Furniture and Fixtures
·
Office Equipment
·
Computers
·
Vehicles
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.45.10 |
|
|
1 |
Rs.71.88 |
|
Euro |
1 |
Rs.63.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|
45 |
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.