MIRA
INFORM REPORT
|
Report Date : |
20.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
AMPHENOL INTERCONNECT INDIA PRIVATE LIMITED |
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|
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|
Registered
Office : |
Plot No.105, Post Box No.1, Bhosari Industrial Area, Bhosari, Pune –
411026, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
20.02.1970 |
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Com. Reg. No.: |
11-014544 |
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Capital
Investment / Paid-up Capital : |
Rs.7.040 Millions |
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CIN No.: [Company Identification
No.] |
U32109MH1970PTC014544 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA06007B |
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PAN No.: [Permanent Account No.] |
AACCA3419J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of
Standard and Customised Specialised Connectors used especially in the Telecom
in the Defence Industries. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 4900000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Financial position
of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per commitments. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered
Office/Factory/Marketing Head Quarters : |
Plot No.105, Post Box No.1, Bhosari Industrial Area, Bhosari, Pune –
411026, |
|
Tel. No.: |
91-20-306688312/ 27120481 / 30688304 / 30688350 / 353 / 373 |
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Fax No.: |
91-20-27120581/ 27129158 / 30688321 |
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E-Mail : |
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Website : |
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Regional Office : |
Northern Region Contact:
Central Region Western Region Southern Region |
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Factory 2 : |
Plot no 61, |
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Tel. No.: |
91-80-30283900, 28520178 (Shrikant Gramopadhye (Operations
Manager)) |
|
Fax No.: |
91-80-28520418 |
|
E-Mail : |
DIRECTORS
As on 28.09.2010
|
Name : |
Mr. Richard Adam Norwitt |
|
Designation : |
Additional Director |
|
Address : |
34, |
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Date of Birth/Age : |
17.06.1969 |
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Date of Appointment : |
21.12.2009 |
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DIN No. : |
02107531 |
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Name : |
Mr. Marco A Wadia |
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Designation : |
Director |
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Address : |
Thakur House, 173, |
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Date of Birth/Age : |
30.01.1956 |
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Date of Appointment : |
26.08.2010 |
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DIN No. : |
00244357 |
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|
|
Name : |
Mr. Luc Walter |
|
Designation : |
Director |
|
Address : |
19, Ruc Jacques Hillairet, |
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Date of Birth/Age : |
29.05.1958 |
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Date of Appointment : |
20.06.2005 |
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DIN No. : |
02936682 |
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Name : |
Mr. Robert D John |
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Designation : |
Whole Time Director |
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Address : |
B-309/409, |
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Date of Birth/Age : |
07.08.1958 |
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Date of Appointment : |
09.06.2001 |
|
DIN No. : |
01820635 |
KEY EXECUTIVES
As on 2009
|
Name : |
Mr. Sunil Yadav |
|
Designation : |
Dy. Manager –Sales |
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|
|
|
Name : |
Mr. P R Prasad |
|
Designation : |
Regional Manager |
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|
Name : |
Mr. Sunil Patil |
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Designation : |
Regional Manager |
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|
Name : |
Mr. K Manoj |
|
Designation : |
Regional Manager |
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Name : |
Shrikant Gramopadhye |
|
Designation : |
Operations Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2010
|
Names of Shareholders |
No. of Shares |
|
Amphenol Corporation ( |
28160 |
|
LPL Technologies Holding GmbH ( |
42240 |
|
Total |
70400 |
As on 28.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of
Standard and Customised Specialised Connectors used especially in the Telecom
in the Defence Industries. |
GENERAL INFORMATION
|
Bankers : |
State Bank of Travancore, 1248-A, Asmani Plaza, FC Road, Deccan
Gymkhana, Pune – 411004, Maharashtra, India
|
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|
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
706, B Wing, 7th Floor, ICC Trade Tower, Senapati Bapat
Road, Pune – 411016, Maharashtra, India |
|
Tel. No.: |
91-20-66244600 |
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Fax No.: |
91-20-66244605 |
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|
|
|
Holding Company : |
LPL Technologies Holding |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000 |
Equity Shares |
Rs.100/- each |
Rs.7.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70400 |
Equity Shares |
Rs.100/-
each |
Rs.7.040
Millions |
- 42,240 Equity Shares (Previous year 42,240) are held by the holding company VIZ LPL Technologies Holding GmbH and 28.160 (Previous year 28,160) equity shares are held by the ultimate holding company VIZ Amphenol Corporation
- 7,500 (Previous year 7,500) equity shares were allotted as fully paid p pursuant to a contract without payment being received In cash
- 26,400 equity shares (Previous year 26,400) were allotted as fully paid up by way of Bonus Shares by apitalization of the General Reserve
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 (15 Months) |
31.12.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.040 |
7.040 |
7.040 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1217.375 |
1116.646 |
877.041 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1224.415 |
1123.686 |
884.081 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
12.395 |
15.830 |
13.445 |
|
|
|
|
|
|
|
|
TOTAL |
1236.810 |
1139.516 |
897.526 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
431.934 |
441.378 |
299.842 |
|
|
Capital work-in-progress |
28.993 |
2.366 |
3.667 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.003 |
0.003 |
0.164 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
367.406
|
320.710
|
266.297 |
|
|
Sundry Debtors |
408.255
|
534.905
|
526.894 |
|
|
Cash & Bank Balances |
240.225
|
171.589
|
53.263 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
119.164
|
118.912
|
75.833 |
|
Total
Current Assets |
1135.050
|
1146.116
|
922.287 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
202.511
|
252.968
|
301.436 |
|
|
Other Current Liabilities |
15.670
|
8.241
|
7.374 |
|
|
Provisions |
140.989
|
189.138
|
19.624 |
|
Total
Current Liabilities |
359.170
|
450.347
|
328.434 |
|
|
Net Current Assets |
775.880
|
695.769
|
593.853 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1236.810 |
1139.516 |
897.526 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 (15 Months) |
31.12.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1722.920 (Turnover) |
2221.240 (Turnover) |
1601.680 |
|
|
|
Other Income |
|
|
29.681 |
|
|
|
TOTAL (A) |
|
|
1631.361 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
|
|
1175.910 |
|
|
|
Purchase of Trading Products |
|
|
2.476 |
|
|
|
Increased / (Decreased) in stock |
|
|
(6.067) |
|
|
|
TOTAL (B) |
NA |
NA |
1172.319 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) I |
NA |
NA |
459.042 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
2.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
456.650 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
36.238 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
NA |
420.412 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
NA |
NA |
146.890 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
NA |
404.330 |
273.522 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
444.789 |
|
|
|
|
|
|
|
|
|
Less |
TRASITIONAL
LIABILITY PROVIDED AS PER AS 15 GRATUITY |
NA |
NA |
1.136 |
|
|
|
|
|
|
|
|
|
Less |
LEAVE ENCASHMENT
|
NA |
NA |
0.474 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
716.701 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
3885 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 (15 Months) |
31.12.2007 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
16.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
26.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
34.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.29
|
0.40
|
0.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.16
|
2.54
|
2.80 |
LOCAL AGENCY FURTHER INFORMATION
COMPANY BACKGROUND
Amphenol Interconnect India Private Limited (the company) was
incorporated on 20 February 1970.
The main activity of the company is the manufacture OF Standard and
Customised Specislised connectors used especially in the Telecom in the Defence
Industries.
OPERATIONS :
The company’s turnover for the year ended March 31, 2010 is Rs.1722.920
Millions and for fifteen month ended on March 31, 2009 was Rs.2221.240
Millions.
FORM 8:
|
Corporate
identity number of the company |
U32109MH1970PTC014544 |
|
Name of the
company |
AMPHENOL
INTERCONNECT INDIA PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Plot No.105, Post Box No.1, Bhosari Industrial Area, Bhosari, Pune –
411026, |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
90090769 |
|
Type of charge |
Book debts Movable property Others |
|
Particular of
charge holder |
State Bank of Travancore, 1248-A, Asmani Plaza, FC Road, Deccan
Gymkhana, Pune – 411004, Maharashtra, India
|
|
Nature of
instrument creating charge |
Deed of Hypothecation and Supplemental Agreement of Hypothecation of
Goods and Assets for increase/Decrease in the Overall Working Capital Limit
both the documents executed to create a single and exclusive charge over the
all the present and future current assets inclusive of book debts of the
borrower company to secure the enhanced limit sanctioned by the Bank. |
|
Date of
instrument Creating the charge |
05.04.2011 |
|
Amount secured by
the charge |
Rs.545.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest For regular
CC:5.75% above SBT Base Rate, effective rate 14.75%p.a. with monthly rests.
For BG and LC limits the commission as per
the norms of the Bank time to time. Penal interest on default . Terms of
repayment : DCC: On Demand.
The tenor would be of 12 months. For BG limit of Rs.100.000 Millions the
maximum tenor would be 48 months. For one time BG and LC the tenor would be
of 12 months. Margin : RM:25% SIP:50%
FG:30% Receivables (Cover Period 90 days):40% For Non fund based limits the
margin would be of 10% Extent and
operation of the charge : SBT Deccan
Gymkhana Br. Pune will have first and exclusive charge over all the present
and future current assets inclusive of Book Debts of the Company. The Company
has extended the Collateral Security of fixed assets of the borrower Company.
The Charge will be in continuous mode till the repayment of the entire loan
inclusive of interest thereon. Others : The Company, by
virtue of the Board Resolution passed on 28/03/2011,has given assent to all
the Terms and Conditions, Covenants, as provided in the Bank’s Sanction
Letter under reference.DGM/MRO/AIIPL/1 Dated25/02/2011, have executed the
related loan document(s)/ Agreement(s) through the Director(s),who have
received and signed the documents in
physical form and who have been authorized to file eform-8 for modifications in the existing
limits and in nature of the charge on agreed terms. |
|
Short Particulars
of the property charged |
All the present
and future current assets and the records related to book debts being
maintained at the Registered office and at the Works of the Company situated
at 105,Bhosari Industrial Area Pune. |
|
Particulars of
the present modification |
By this
modification, the existing limit of Rs.275.000 Millions has been enhanced to
Rs.545.000 Millions by enhancing the present limit of One time BG of Rs.130.000 Millions to
400.000 Millions.(Present limit of Rs.275.000 Millions + enhanced portion of
BG Limit of Rs.270.000 Millions making the total charge for Rs.545.000
Millions). |
FIXED ASSETS:
- Buildings
- Plant and Machinery
- Tooling
- Vehicles
- Furniture and Fixtures
- Computers
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.44.98 |
|
|
1 |
Rs.72.68 |
|
Euro |
1 |
Rs.64.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
58 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history (10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.