%20PRIVATE%20LIMITED%20-%20136460%2024-Mar-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
24.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
AUMA (INDIA) PRIVATE LIMITED (w.e.f. 04.02.2005) |
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|
|
|
Formerly Known
As : |
AUMA ( |
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|
|
Registered
Office : |
Plot No.39-B, Phase – 2, Peenya Industrial Estate, |
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Country : |
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|
|
Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
04.07.1983 |
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|
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Com. Reg. No.: |
08-005412 |
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|
|
|
CIN No.: [Company Identification
No.] |
U74999KA1983PTC005412 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA04951C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA1342F |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Electric Actuators and Gearboxes. |
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 2725000 |
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|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Regular |
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|
Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. General
financial of the company is good. Trade relations are 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 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
DIRECTORS
As on 13.08.2010
|
Name : |
Mr. Arvind Kumar Goel |
|
Designation : |
Managing Director |
|
Address : |
B 402, Brigade Regency, 8th |
|
Date of Birth/Age : |
10.07.1960 |
|
Date of Appointment : |
15.12.2003 |
|
DIN No.: |
00050867 |
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|
|
|
Name : |
Mr. Shrikant Kamalkant Welling |
|
Designation : |
Director |
|
Address : |
# 202, Parijatha, Tenth Main, Malleswaram, |
|
Date of Birth/Age : |
15.11.1946 |
|
Date of Appointment : |
24.08.2005 |
|
DIN No.: |
00050943 |
|
|
|
|
Name : |
Mr. Wolfgang Ranft |
|
Designation : |
Director |
|
Address : |
Lindenstrasse 1, |
|
Date of Birth/Age : |
31.03.1966 |
|
Date of Appointment : |
18.09.2008 |
|
DIN No.: |
02472325 |
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|
|
|
Name : |
Mr. Matthias Paul Dinse |
|
Designation : |
Director |
|
Address : |
Riester KG, Industriebgbiet West D-7840, Mullheim, BD/Germany |
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Date of Birth/Age : |
06.09.1954 |
|
Date of Appointment : |
13.08.2010 |
|
DIN No.: |
03207960 |
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|
|
|
Name : |
Mr. Ian David Sully |
|
Designation : |
Chairman |
|
Address : |
Boundary House, |
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Date of Birth/Age : |
29.04.1963 |
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Date of Appointment : |
23.08.2003 |
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Date of Ceasing : |
29.06.2010 |
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DIN No.: |
00494007 |
KEY EXECUTIVES
|
Name : |
Mr. Rangaiyengar Dhore Balamukund |
|
Designation : |
Company Secretary |
|
Address : |
Sridhama, No.1, Venkatachary Nagar, Gokul Railway Men’s Colony, RMV
Extension Stage, |
|
Date of Birth/Age : |
15.12.1938 |
|
Date of Appointment : |
09.12.1996 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 13.08.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sadanand A. Shetty |
|
40 |
|
M. Hariprasad Shetty |
|
40 |
|
Ramacrishna M. Hegde |
|
40 |
|
A.A. Majmudar |
|
40 |
|
M. Jacob John |
|
40 |
|
Auma Armaturenantriebe |
|
1903576 |
|
Madhukar M. Rupji |
|
2000 |
|
Indian Commercial Company Private Limited, |
|
2000 |
|
Madhavi G. Jhanghiani |
|
2000 |
|
Munchur Industries Private Limited, |
|
2000 |
|
Subramanian |
|
400 |
|
M. Balaji Rao |
|
400 |
|
B.R. Purnachandra |
|
2000 |
|
Premratan Devkishan Daga |
|
800 |
|
Sheila G. Jhangiani |
|
2000 |
|
Balamukund Devkishan Daga |
|
800 |
|
Satish E. Shetty |
|
2000 |
|
Mahendra Girdharilal |
|
2400 |
|
Arvind K. Goel |
|
5800 |
|
Sreeharsharam |
|
100 |
|
M.N. Balachandra |
|
100 |
As on 13.08.2010
|
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] |
|
98.81 |
|
Bodies
corporate |
|
0.21 |
|
Directors
or relatives of directors |
|
0.30 |
|
Other
top fifty shareholders |
|
0.68 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electric Actuators and Gearboxes. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Actuators |
Nos. |
12000 |
13312 |
|
Gear Boxes |
Nos. |
6000 |
5398 |
|
|
|
|
|
GENERAL INFORMATION
|
Bankers : |
Corporation Bank, Peenya Industrial Estate, II Stage, Door No.488/B,
14th Cross, KIADB Complex, 4th Phase, Bangalore – 560
058, Karnataka, India |
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H.V. Gowthama Chartered Accountants |
|
Address : |
No.23/57, 41st Cross, East End C Main, 9th
Block, Jayanagar, |
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|
|
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Holding Company : |
Auma Armaturenantriebe |
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Fellow Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1926576 |
Equity Shares |
Rs.10/- each |
Rs.19.266
millions |
|
|
|
|
|
Includes 1204110 Shares are allotted as fully paid up by way of Bonus
Shares by capitalization of General Reserve and 27460 shares were allotted as
fully paid up pursuant to a contract without payment being received in cash.
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 |
19.266 |
19.266 |
19.266 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
661.952 |
568.935 |
410.628 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
681.218 |
588.201 |
429.894 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.751 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.751 |
|
|
DEFERRED TAX LIABILITIES |
6.958 |
6.382 |
7.848 |
|
|
|
|
|
|
|
|
TOTAL |
688.176 |
594.583 |
438.493 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
311.421 |
313.170 |
125.403 |
|
|
Capital work-in-progress |
11.680 |
0.548 |
12.524 |
|
|
|
|
|
|
|
|
INVESTMENT |
168.841 |
91.701 |
86.664 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
76.352
|
54.948 |
54.136 |
|
|
Sundry Debtors |
280.256
|
253.532 |
258.318 |
|
|
Cash & Bank Balances |
10.537
|
10.862 |
6.992 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
16.529
|
6.449 |
9.157 |
|
Total
Current Assets |
383.674
|
325.791 |
328.603 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
98.406
|
111.649 |
94.281 |
|
|
Other Current Liabilities |
22.524
|
15.751 |
11.894 |
|
|
Provisions |
66.510
|
9.227 |
8.526 |
|
Total
Current Liabilities |
187.440
|
136.627 |
114.701 |
|
|
Net Current Assets |
196.234
|
189.164 |
213.902 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
688.176 |
594.583 |
438.493 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
902.603 |
782.024 |
782.034 |
|
|
|
Other Income |
27.932 |
28.372 |
|
|
|
|
TOTAL |
930.535 |
810.396 |
782.034 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
605.752 |
|
506.026 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
605.752 |
557.152 |
506.026 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
324.783 |
253.244 |
276.008 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
15.281 |
13.421 |
15.061 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
309.502 |
239.823 |
260.947 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
104.176 |
81.364 |
88.855 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
205.326 |
158.459 |
172.092 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
79.536 |
71.229 |
48.935 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
150.000 |
150.000 |
150.000 |
|
|
BALANCE CARRIED
TO THE B/S |
22.553 |
79.536 |
71.229 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales including Commission |
72.139 |
29.097 |
13.942 |
|
|
|
Service |
0.503 |
0.044 |
0.039 |
|
|
TOTAL EARNINGS |
72.642 |
29.141 |
13.981 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components |
94.833 |
37.715 |
35.457 |
|
|
TOTAL IMPORTS |
94.833 |
37.715 |
35.457 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
106.58 |
82.07 |
89.33 |
|
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%20PRIVATE%20LIMITED%20-%20136460%2024-Mar-2011_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20136460%2024-Mar-2011_files/image005.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
22.07
|
19.55 |
22.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
34.29
|
30.67 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
44.53
|
37.53 |
57.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.41 |
0.61 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.28
|
0.23 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.05
|
2.38 |
2.86 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
During the year, net sales amounted to Rs.902.603 recording a growth of
15.42% over 2008-09 resulting in a profit before depreciation and taxation of Rs.324.783
millions. After providing Rs.15.281 millions for depreciation, Rs.103.964
millions towards income tax and Rs.112.521 millions towards dividend (including
tax on dividend) and taking into account the carried forward balance of
Rs.79.536 millions, it is proposed to transfer Rs.150.000 millions to General
Reserve and to carry forward the balance of Rs.22.553 millions in the profit
and loss account.
FORM 8:
|
Corporate identity
number of the company |
U74999KA1983PTC005412 |
|
Name of the
company |
AUMA ( |
|
Address of the
registered office or of the principal place of business in |
Plot No.39-B, Phase – 2, Peenya Industrial Estate, E-Mail: info@auma.co.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property |
|
Particular of charge
holder |
Corporation Bank, Peenya Industrial Estate, II Stage, Door No.488/B,
14th Cross, KIADB Complex, 4th Phase, Bangalore – 560
058, Karnataka, India E-Mail: cb763@corpbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Common Deed of
Hypothecation of Movables/Assets/Debts |
|
Date of
instrument Creating the charge |
15/07/2009 |
|
Amount secured by
the charge |
Rs.30.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest @ 0.25%
over and above BPLR with a Minimum of 12.25% p.a. (CC-Hyp-Rs.30.000
millions) Terms of
Repayment: Repayable on
Demand Margin: RM :Imported 25% RM :Indigenous
25% WIP: 25% FG:25% Book Debts: 25% Extent and
Operation of the charge: 100% Till the
Closure of the Loan |
|
Short particulars
of the property charged |
Hypothecation of All
the present and future Stock consisting of Different types of Gear Boxes and
Book debts etc., belonging to the Company. |
Contingent Liability: (As on 31.03.2010)
·
The company has
outstanding guarantees and counter guarantees of Rs.3.713 millions as at 31st
March, 2010, to bank, in respect of the guarantees given to the banks.
FIXED ASSETS:
·
Land
·
Buildings
Plant and Machinery
·
Office Machinery
·
EDP Equipments
·
R and D Assets
·
Furniture and Fittings
·
Motor Vehicles
·
Tools, Jigs 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.44.96 |
|
|
1 |
Rs.73.57 |
|
Euro |
1 |
Rs.63.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
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.