1. Summary Information
|
|
|
Country |
|
|
Company Name |
WARM FORGINGS
PRIVATE LIMITED |
Principal Name 1 |
Mr. Amit Rajput |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Anupam Chauhan |
|
|
|
Registration # |
17-15907 |
|
Street Address |
SPL – 1D and 1E,
Industrial Area, Bhiwandi, Rajasthan, District Alwar – 301019, |
||
|
Established Date |
30.09.1999 |
SIC Code |
-- |
|
Telephone# |
91-1493-512214 /
645012 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-1493-512220 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
High Quality Precision Forged Turned |
|
|
# of employees |
-- |
Product Name 2 |
Machined Components for Transmission, Engine and Suspension
Applications |
|
Paid up capital |
Rs.12,647,600/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate - 5.00% Directors or
relatives of Directors - 87.00% Other - 8.00% |
Banking |
State Bank of |
|
Public Limited Corp. |
No |
Business Period |
12 years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(49) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
155,124,000
|
Current Liabilities |
186,887,000
|
|
Inventories |
40,926,000
|
Long-term Liabilities |
148,273,000 |
|
Fixed Assets |
226,190,000 |
Other Liabilities |
12,321,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
347,481,000 |
|
Invest& other Assets |
6,072,000 |
Retained Earnings |
53,083,000 |
|
|
|
Net Worth |
80,831,000 |
|
Total Assets |
428,312,000 |
Total Liab. & Equity |
428,312,000 |
|
Total Assets (Previous Year) |
283,980,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
NA |
Net Profit |
NA |
|
Sales(Previous yr) |
NA |
Net Profit(Prev.yr) |
NA |
MIRA
INFORM REPORT
|
|
|
|
Report Date : |
30.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
WARM FORGINGS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
CNC AUTOMOTIVE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
SPL – 1D and 1E, Industrial Area, Bhiwandi, Rajasthan, District Alwar
– 301019, Rajasthan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
30.09.1999 |
|
|
|
|
Com. Reg. No.: |
17-15907 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300RJ1999PTC015907 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of High Quality Precision Forged Turned and Machined Components
for Transmission, Engine and Suspension Applications. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 323000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well 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. Profit and Loss account of the company is not available. |
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 : |
SPL – 1D and 1E, Industrial Area, Bhiwandi, Rajasthan, District Alwar
– 301019, |
|
Tel. No.: |
91-1493-512214 / 645012 |
|
Fax No.: |
91-1493-512220 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Amit Rajput |
|
Designation : |
Director |
|
Address : |
1/91, RHB Alampur Panchayat Samiti, Tijara, Alwar – 301019, |
|
Date of Birth/Age : |
01.06.1970 |
|
Date of Appointment : |
19.09.2003 |
|
|
|
|
Name : |
Mr. Anupam Chauhan |
|
Designation : |
Director |
|
Address : |
117 – 118, Pocket – A, A-3, Sector – 11, Rohini, New Delhi – 110085,
Delhi, India |
|
Date of Birth/Age : |
12.03.1970 |
|
Date of Appointment : |
19.09.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Amit Rajput |
|
625750 |
|
Mr. Anupam Chauhan |
|
474850 |
|
Mr. Avinash Rajput |
|
10 |
|
Mr. Rajendra Singh Chauhan |
|
10 |
|
Mr. Manoj Rajput |
|
100 |
|
Mr. Sanjeev Kumar |
|
10 |
|
Mr. Rajendra Singh |
|
10 |
|
Mr. Ghashi Singh |
|
10 |
|
Ms. Anjali Rajput |
|
10 |
|
Saran Agriculture Ture Private Limited ( |
|
10000 |
|
Sheelwant |
|
18000 |
|
Mr. Bhupinder Singh |
|
29000 |
|
Mr. Rajveer Singh |
|
41000 |
|
Mrs. Poonam |
|
17000 |
|
M/s Vergin Capital and Investment Private Limited ( |
|
49000 |
|
Total |
|
1264760 |
As on 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
5.00 |
|
Directors or relatives of Directors |
87.00 |
|
Other |
8.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of High Quality Precision Forged Turned and Machined Components
for Transmission, Engine and Suspension Applications. |
GENERAL INFORMATION
|
Bankers : |
|
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
DSP and Associates Chartered Accountant |
|
Address : |
783, Desh Bandhu Gupta Road, Near Faiz Road Crossing, Karol Bagh, New
Delhi – 110005, Delhi, India |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1264760 |
Equity Shares |
Rs.10/- each |
Rs.12.647
Millions |
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 |
12.648 |
12.068 |
12.068 |
|
|
2] Share Application Money |
15.100 |
0.450 |
0.000 |
|
|
3] Reserves & Surplus |
53.083 |
31.928 |
26.142 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
80.831 |
44.446 |
38.210 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
140.234 |
65.244 |
106.007 |
|
|
2] Unsecured Loans |
8.039 |
23.902 |
10.878 |
|
|
TOTAL BORROWING |
148.273 |
89.146 |
116.885 |
|
|
DEFERRED TAX LIABILITIES |
7.878 |
5.089 |
5.922 |
|
|
|
|
|
|
|
|
TOTAL |
236.982 |
138.681 |
161.017 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
226.190 |
121.749 |
118.448 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
6.072 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
40.926
|
28.993 |
29.239 |
|
|
Sundry Debtors |
98.053
|
78.960 |
70.626 |
|
|
Cash & Bank Balances |
12.511
|
9.302 |
16.305 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
44.560
|
44.941 |
30.904 |
|
Total
Current Assets |
196.050
|
162.196 |
147.074 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
186.887
|
141.193 |
104.575 |
|
|
Provisions |
4.443
|
4.106 |
0.000 |
|
Total
Current Liabilities |
191.330
|
145.299 |
104.575 |
|
|
Net Current Assets |
4.720
|
16.897 |
42.499 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.035 |
0.070 |
|
|
|
|
|
|
|
|
TOTAL |
236.982 |
138.681 |
161.017 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.20
|
5.27 |
5.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
1.12 |
1.41 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8 :
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U34300RJ1999PTC015907 |
|
Name of the
company |
WARM FORGINGS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
SPL – 1D and 1E, Industrial Area, Bhiwandi, Rajasthan, District Alwar
– 301019, |
|
Type of charge |
Others |
|
Particular of
charge holder |
State Bank of |
|
Nature of description
of the instrument creating or modifying the charge |
Guarantee
Agreement (SME-3) |
|
Date of
instrument Creating the charge |
11.05.2010 |
|
Amount secured by
the charge |
Rs.75.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: As per Agreement Terms of
Repayment : As per Agreement Margin : As per Agreement Extent and
Operation of the charge : 100% Others : The company has given
the corporate guarantee to secure the various credit facilities granted to
M/s Warm Gears Private Limited of Rs.75.000 Millions. |
|
Short particulars
of the property charged |
The company has
given the corporate guarantee to secure the various credit facilities granted
to M/s Warm Gears Private Limited. |
|
Date of latest
modification prior to the present modification |
|
|
Particulars of
the present modification |
|
FIXED ASSETS :
- Land (Leasehold)
- Building (Factory)
- Building (Residential)
- Furniture and Fixtures
- Plant and Machinery
- Computer
- Office Equipment
- Cars
- Truck
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.44.67 |
|
|
1 |
Rs.71.62 |
|
Euro |
1 |
Rs.63.09 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.