MIRA
INFORM REPORT
|
Report Date : |
12.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRECISION AUTOMATION AND ROBOTICS INDIA LIMITED |
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Registered Office : |
Narhe Works, S. No.38/2, Village Narhe, Off |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
10.08.1990 |
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Com. Reg. No.: |
25-57687 |
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Capital Investment / Paid-up Capital : |
Rs.82.816 Millions |
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CIN No.: [Company
Identification No.] |
U72200PN1990PLC057687 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEP00979G |
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PAN No.: [Permanent
Account No.] |
AABCP2572Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Industrial Robotics and Automation Systems |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
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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 3100000 |
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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 commitment. 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 |
|
Insignificant |
A1 |
|
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 |
INFORMATION DECLINED BY
|
Name : |
Mr. Bakre |
|
Designation : |
Accounts Department |
LOCATIONS
|
Registered Office : |
Narhe Works, S. No.38/2, Village Narhe, Off |
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Tel. No.: |
91-20-24392080 / 66462000 / 66462300 / 66462012 (Direct Line – Sales) |
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Fax No.: |
91-20-24392343 / 24392843 |
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E-Mail : |
nitinb@parirobotics.com |
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Website : |
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Head Office : |
1203-A, |
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Tel. No.: |
91-22-25063931 |
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E-Mail : |
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Factory : |
Village Dhangarwadi Shirwal off Pune Satara Highway, Satara – 412801 India |
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Corporate Office : |
701A, |
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Tel. No.: |
91-22-26365238 |
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Fax No.: |
91-22-26365238 |
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Factory : |
S. No. 144, |
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Tel. No.: |
91-20-24392080/82/83/24390914/15 |
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Fax No.: |
91-20-24392843 |
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E-Mail : |
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Branches : |
Located at :
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DIRECTORS
AS ON 29.09.2010
|
Name : |
Mr. Mangesh Ashok Kale |
|
Designation : |
Managing Director |
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Address : |
C-6 Suyog Nagar, Sr No.102-4, Shivaji Nagar, Pune – 411 016, |
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Date of Birth/Age : |
19.09.1965 |
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Date of Appointment : |
01.04.2007 |
|
Other Directorship : |
Pari Automation Limited CIN No: U7220PN2003PLC017677 |
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DIN No.: |
00425623 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U72200PN1990PLC057687 |
PRECISION
AUTOMATION AND ROBOTICS INDIA LIMITED |
Managing
director |
16-08-90 |
16-08-90 |
- |
Active |
NO |
|
2 |
U72200PN2003PLC017677 |
PARI AUTOMATION
LIMITED |
Director |
10-02-03 |
10-02-03 |
- |
Active |
NO |
|
Name : |
Dr. Ranjit Arun Date |
|
Designation : |
Managing Director |
|
Address : |
13/ 4, Nalini-Mahadev, Near |
|
Date of Birth/Age : |
07.08.1966 |
|
Date of Appointment : |
04.01.1992 |
|
Other Directorship : |
Pari Automation Limited CIN No: U7220PN2003PLC17677 |
|
DIN No.: |
00425691 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U72200PN1990PLC057687 |
PRECISION
AUTOMATION AND ROBOTICS INDIA LIMITED |
Managing
director |
04-01-92 |
04-01-92 |
- |
Active |
NO |
|
2 |
U72200PN2003PLC017677 |
PARI AUTOMATION
LIMITED |
Director |
10-02-03 |
10-02-03 |
- |
Active |
NO |
|
Name : |
Mr. Atul Ganesh Dixit |
|
Designation : |
Whole Time Director |
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Address : |
Flat No.21, Akash Darshan Society, Plot No.76, Ram Baug Colony, Paud
Road, Pune – 411 038, Maharashtra, India |
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Date of Birth/Age : |
21.04.1968 |
|
Date of Appointment : |
23.11.1999 |
|
DIN No.: |
00425901 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U72200PN1990PLC057687 |
PRECISION
AUTOMATION AND ROBOTICS INDIA LIMITED |
Whole-time
director |
23-11-99 |
23-11-99 |
01-02-11 |
Active |
NO |
|
2 |
U72200PN2003PLC017677 |
PARI AUTOMATION
LIMITED |
Director |
10-02-03 |
10-02-03 |
01-02-11 |
Active |
NO |
|
3 |
U74120PN1999PTC013814 |
UNITED
PROFESSIONALS PRIVATE LIMITED |
Additional
director |
04-04-11 |
04-04-11 |
- |
Active |
NO |
|
Name : |
Mr. Makarand Shasikant Rajguru |
|
Designation : |
Whole Time Director |
|
Address : |
Building No.7, Flat No.304, Vedvihar, Chandni Chowk, |
|
Date of Birth/Age : |
01.06.1968 |
|
Date of Appointment : |
23.11.1999 |
|
DIN No.: |
00425813 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U72200PN1990PLC057687 |
PRECISION AUTOMATION
AND ROBOTICS INDIA LIMITED |
Whole-time
director |
23-11-99 |
23-11-99 |
- |
Active |
NO |
|
Name : |
Mr. Mukund Gajanan Kelkar |
|
Designation : |
Director |
|
Address : |
Flat No.4, Madhuban Apartment (B), Survey No.38/2, Ganesh Nagar, Samarth
Path, Pune – 411 052, |
|
Date of Birth/Age : |
03.10.1956 |
|
Date of Appointment : |
23.11.1999 |
|
DIN No.: |
00133388 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U29194PN1998PTC012565 |
CENTRIFOR INDIA
PRIVATE LIMITED |
Director |
02-06-98 |
02-06-98 |
10-12-07 |
Active |
NO |
|
2 |
U72200PN1990PLC057687 |
PRECISION
AUTOMATION AND ROBOTICS INDIA LIMITED |
Director |
01-04-06 |
23-11-99 |
09-02-11 |
Active |
NO |
|
Name : |
Mr. Vedanthachari Shrinivasa Rangan |
|
Designation : |
Nominee Director |
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Address : |
BB – 220, Jankpuri, |
|
Date of Birth/Age : |
13.02.1960 |
|
Date of Appointment : |
02.07.2004 |
|
Name of the company or institution whose nominee the appointee is : |
Housing Development Finance Corporation Limited |
|
DIN No.: |
00030248 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U72200PN1990PLC057687 |
PRECISION
AUTOMATION AND ROBOTICS INDIA LIMITED |
Nominee director |
02-07-04 |
02-07-04 |
05-10-09 |
Active |
NO |
|
2 |
U65990MH1994PLC083933 |
HDFC INVESTMENTS
LIMITED |
Director |
01-10-04 |
01-10-04 |
- |
Active |
NO |
|
3 |
U99999MH2000PTC129112 |
Intelenet Global
Services Private Limited |
Director |
21-10-04 |
21-10-04 |
19-09-07 |
Active |
NO |
|
4 |
U65991MH2004PLC149330 |
HDFC VENTURE
CAPITAL LIMITED |
Director |
29-11-04 |
29-11-04 |
- |
Active |
NO |
|
5 |
U30007TN1999PLC042853 |
IPFONLINE
LIMITED |
Nominee director |
22-04-06 |
22-04-06 |
- |
Active |
NO |
|
6 |
U74140MH2006PLC165539 |
HDFC PROPERTY
VENTURES LIMITED |
Nominee director |
14-11-06 |
14-11-06 |
- |
Active |
NO |
|
7 |
U45203TN2006PLC059133 |
L & T URBAN
INFRASTRUCTURE LIMITED |
Director |
31-01-07 |
31-01-07 |
- |
Active |
NO |
|
8 |
U65993MH2000PLC123680 |
HDFC HOLDINGS
LIMITED |
Director |
27-06-07 |
13-03-07 |
- |
Active |
NO |
|
9 |
U17121PB1922PLC000038 |
OCM INDIA LTD |
Director |
04-05-07 |
04-05-07 |
03-05-11 |
Active |
NO |
|
10 |
U74140MH2006PTC164125 |
IVF Advisors
Private Limited |
Director |
21-06-07 |
21-06-07 |
- |
Active |
NO |
|
11 |
U65991MH1999PLC123026 |
HDFC TRUSTEE
COMPANY LIMITED |
Director |
23-04-08 |
18-12-07 |
- |
Active |
NO |
|
12 |
U72200MH2006PLC166403 |
IDHASOFT LIMITED |
Nominee director |
11-07-08 |
11-07-08 |
26-04-11 |
Active |
NO |
|
13 |
U74120KA2008PTC046330 |
RURALSHORES
BUSINESS SERVICES PRIVATE LIMITED |
Director |
29-05-09 |
18-03-09 |
- |
Active |
NO |
|
14 |
U65990MH2006PTC159411 |
CREDILA
FINANCIAL SERVICES PVT LTD |
Nominee director |
24-12-09 |
24-12-09 |
- |
Active |
NO |
|
15 |
L70100MH1977PLC019916 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
Whole-time
director |
14-07-10 |
01-01-10 |
- |
Active |
NO |
|
16 |
U45200MH1981PLC023708 |
HDFC DEVELOPERS
LIMITED |
Director |
08-07-11 |
15-07-10 |
- |
Active |
NO |
|
17 |
L99999GJ1975PLC002859 |
ATUL LIMITED |
Director |
31-08-10 |
19-07-10 |
- |
Active |
NO |
|
18 |
L65993TN1978PLC007576 |
CHOLAMANDALAM INVESTMENT
AND FINANCE COMPANY LIMITED |
Director |
28-07-11 |
28-07-11 |
- |
Active |
NO |
|
Name : |
Mr. Govind Ghanshyam Oza |
|
Designation : |
Whole Time Director |
|
Address : |
506, Woodland Harmony, Gandhi Bhavan, Kothrud, Pune – 411 038, |
|
Date of Birth/Age : |
01.04.1972 |
|
Date of Appointment : |
29.09.2006 |
|
DIN No.: |
00426002 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current designation
of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U72200PN1990PLC057687 |
PRECISION
AUTOMATION AND ROBOTICS INDIA LIMITED |
Whole-time
director |
27-12-05 |
27-12-05 |
- |
Active |
NO |
|
2 |
U72200PN2003PLC017677 |
PARI AUTOMATION
LIMITED |
Additional
director |
01-02-11 |
01-02-11 |
- |
Active |
NO |
|
Name : |
Mr. Kantilal M Gandhi |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
701A, |
|
Date of Birth/Age : |
22.10.1932 |
|
Date of Appointment : |
28.08.1998 |
|
Name : |
Mr. Yogesh Gandhi |
|
Designation : |
Managing Director |
|
Address : |
B-62, Sector 14, Noida, Noida 201301, Uttar Pradesh |
|
Date of Birth/Age : |
12.12.1955 |
|
Date of Appointment : |
22.05.1987 |
|
Name : |
Mr. Harsh Gandhi |
|
Designation : |
Whole time Director |
|
Address : |
B-62, Sector 14, Noida, Noida 201301, Uttar Pradesh |
|
Date of Birth/Age : |
05.06.1981 |
|
Date of Appointment : |
22.08.2003 |
|
Name : |
Mr. Parul Y Gandhi |
|
Designation : |
Whole time Director |
|
Address : |
B-62, Sector 14, Noida, Noida 201301, Uttar Pradesh |
|
Date of Birth/Age : |
29.10.1959 |
|
Date of Appointment : |
01.10.2004 |
|
Name : |
Mr. Jitendra H Shah |
|
Designation : |
Director |
|
Address : |
146/3, Nutan Villa, Garodia Nagar, Ghatkopar East, Mumbai-400077, |
|
Date of Birth/Age : |
07.01.1954 |
|
Date of Appointment : |
01.04.2004 |
|
Name : |
Mr. Shailesh J Jobalia |
|
Designation : |
Director |
|
Address : |
12, Mahesh Villa, V B Lane Extension, Ghatkopar East, Mumbai-400077, |
|
Date of Birth/Age : |
22.05.1957 |
|
Date of Appointment : |
01.04.2004 |
|
Name : |
Mr. Vithaldas H Shah |
|
Designation : |
Director |
|
Address : |
6, |
|
Date of Birth/Age : |
09.10.1936 |
|
Date of Appointment : |
01.04.2004 |
|
Name : |
Dr. Arun Mahadev Date |
|
Designation : |
Director |
|
Address : |
13/ 4, Near |
|
Date of Birth/Age : |
12.02.1939 |
|
Date of Appointment : |
16.08.1990 |
KEY EXECUTIVES
|
Name : |
Mr. Bakre |
|
Designation : |
Accounts Department |
|
|
|
|
Name : |
Mr. Dhanesh S Rale |
|
Designation : |
Secretary |
|
Date of Birth/Age : |
02.04.1978 |
|
Date of Appointment : |
14.05.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
No. of Shares |
|
Vasant Joshi |
15000 |
|
Ranjit A. Date |
2187254 |
|
Sulabha V. Joshi |
54000 |
|
Ashok B. Kale |
73488 |
|
Mangesh A. Kale |
2292894 |
|
Pradnya Palwankar |
23328 |
|
Shivanand Shankar Mankekar jointly with Laxmi Mankekar |
519030 |
|
Shivanand Shankar Mankekar jointly with Kedar Mankekar |
20196 |
|
Laxmi Mankekar jointly with Shivanand Shankar Mankekar |
63954 |
|
Arun M. Date Jointly with Ranjit A. Date |
250056 |
|
Bharat Parajia |
199260 |
|
Nilesh Shah jointly with Sangita Shah |
9960 |
|
Rita R. Date |
40000 |
|
Manjushree P Manohar |
23328 |
|
Mangesh A Kale Jointly with Ashok B Kale |
58656 |
|
IL and FS Trust Company Limited – Trustee Axis Venture Capital Trust
A/c. ISOF |
2054040 |
|
Mangesh Kale Jointly With Dr. Ranijt Date and Atuul Dixit for Pari
Employees Welfare Trust |
278009 |
|
Rajesh Bhanshali |
11088 |
|
Ajay Agarwal |
65380 |
|
Anil Dale |
940 |
|
C Lateesh |
880 |
|
Khanderao Shinde |
870 |
|
Gautam Karajkhede |
1010 |
|
Aditya Joshi |
1340 |
|
krithivasan |
1860 |
|
Atul Dixit |
2520 |
|
Makarand Rajguru |
2520 |
AS ON 29.09.2010
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Venture
Capital |
24.80 |
|
Bodies
Corporate |
3.36 |
|
Directors
or relatives of directors |
59.82 |
|
Other
top fifty shareholders |
11.95 |
|
Other
|
0.07 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Industrial Robotics and Automation Systems |
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Products : |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
Credit of 45 days or L/C terms. |
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Purchasing : |
L/C or credit upto 30 days terms |
GENERAL INFORMATION
|
Customers : |
Manufacturers, government bodies and end users
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No. of Employees : |
150 |
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Bankers : |
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Facilities : |
Rs. in Millions
Note: 1) Working Capital Facilities from banks, are secured by Hypothecation of all Current Assets and are further secured by way of Second
Charge on all Fixed Assets of the Company. 2) Term Loans from
Banks are secured by First Charge by way of Equitable Mortgage of Immovable Assets and Hypothecation of Movable
Assets of the Company and are further secured by way of Second Charge
on all Current Assets of the
Company 3) Working Capital
Facilities and Term Loans are personally guaranteed by some of the Directors of the Company. 4) Vehicle Loans availed from various banks for purchase of Vehicles, are secured by charge on Vehicles purchased out of such loans.
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
B L Phatak and Company Chartered Accountants |
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Address : |
1 Jay Apartments, Sunderrao Rege Marg, 64/3 Erandwane, 14th
Lane Prabhat Road, Pune – 411 004, Maharashtra |
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Pan No : |
AACFB0983B |
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Associates/Subsidiaries : |
CIN No: U7220PN2003PLC017677
|
CAPITAL STRUCTURE
AS ON 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8281671 |
Equity Shares |
Rs.10/- each |
Rs.82.816
millions |
|
|
|
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|
Note:
Out of the above 5811700 Equity Shares of Rs. 10/- each fully paid up have been allotted as Bonus Shares by Capitalization of Security 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 |
82.816 |
69.740 |
69.740 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
697.246 |
351.134 |
291.073 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
780.062 |
420.874 |
360.813 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
892.763 |
739.115 |
576.764 |
|
|
2] Unsecured Loans |
33.810 |
287.810 |
33.810 |
|
|
TOTAL BORROWING |
926.573 |
1026.925 |
610.574 |
|
|
DEFERRED TAX LIABILITIES |
41.807 |
38.548 |
21.298 |
|
|
Stock options outstanding |
0.002 |
2.923 |
1.419 |
|
|
|
|
|
|
|
|
TOTAL |
1748.444 |
1489.270 |
994.104 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
538.344 |
562.684 |
258.707 |
|
|
Capital work-in-progress |
19.947 |
16.777 |
66.590 |
|
|
|
|
|
|
|
|
INVESTMENT |
13.345 |
13.345 |
13.345 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
659.666
|
551.605
|
495.262
|
|
|
Sundry Debtors |
1148.858
|
794.309
|
791.330
|
|
|
Cash & Bank Balances |
179.507
|
169.217
|
88.351
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
134.497
|
104.082
|
90.687
|
|
Total
Current Assets |
2122.528
|
1619.213
|
1465.630
|
|
|
Less : CURRENT LIABILITIES
& PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
617.468
|
504.621
|
594.810
|
|
|
Current Liabilities |
326.783
|
210.280
|
150.037
|
|
|
Provisions |
14.210
|
8.418
|
66.461
|
|
Total
Current Liabilities |
958.461
|
723.319
|
811.308
|
|
|
Net Current Assets |
1164.067
|
895.894
|
654.323
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
12.741 |
0.570 |
1.140 |
|
|
|
|
|
|
|
|
TOTAL |
1748.444 |
1489.270 |
994.104 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
2140.143 |
1902.766 |
2019.611 |
|
|
|
Other Income |
10.100 |
100.426 |
25.874 |
|
|
|
TOTAL (A) |
2150.243 |
2003.192 |
2045.485 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials and Manufacturing Expenses |
1330.063 |
1187.809 |
1279.654 |
|
|
|
Payments to and Provisions for Employees |
277.623 |
292.495 |
210.764 |
|
|
|
Selling, Administrative and General Expenses |
256.442 |
279.619 |
239.254 |
|
|
|
TOTAL (B) |
1864.128 |
1759.923 |
1729.672 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
286.115 |
243.269 |
315.813 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
143.893 |
107.455 |
56.037 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
142.222 |
135.814 |
259.776 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
39.529 |
28.440 |
18.485 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
102.693 |
107.374 |
241.291 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
39.906 |
41.686 |
89.555 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
62.787 |
65.688 |
151.736 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
6.286 |
6.006 |
15.174 |
|
|
|
Dividend |
6.004 |
4.707 |
17.086 |
|
|
|
Tax on Dividend |
0.997 |
0.921 |
3.091 |
|
|
BALANCE CARRIED
TO THE B/S |
49.500 |
54.054 |
116.385 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
424.456 |
85.240 |
84.158 |
|
|
|
Commission Earnings |
59.976 |
2.393 |
0.684 |
|
|
TOTAL EARNINGS |
484.432 |
87.633 |
84.842 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
472.569 |
306.284 |
391.494 |
|
|
|
Stores & Spares |
0.000 |
0.000 |
0.000 |
|
|
|
Capital Goods |
0.000 |
6.106 |
0.000 |
|
|
TOTAL IMPORTS |
472.569 |
312.390 |
391.494 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1247 |
9.42 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.91 |
3.28 |
7.42
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.79 |
5.64 |
11.95
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.85 |
4.92 |
13.99
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.26 |
0.67
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.47 |
4.16 |
2.97
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21 |
2.24 |
1.37
|
LOCAL AGENCY FURTHER INFORMATION
History:
Subject was incorporated on 10th August, 1990 at
Pune in
Subject was incorporated in 1990 by highly qualified technocrats
with rich experience in the field of automation and robotics in
Review of Operations:
The director are glad to inform about improvement in the net sales
turnover of the company yin the previous year though the capital goods sector
is yet to come of the slow-down and recession in the economy. The company has
achieved net sales turnover of Rs. 2150.244 millions during the financial year
2009-2010, compared to net sales turnover and other income of Rs. 2003.192
millions in the previous financial year 2008-2009.
Exports and other foreign consultancy income during the year under
review were Rs. 484.432 millions as against Rs. 87.633 millions during the
previous year 2008-2009.
The company successfully executed various orders of reputed corporate
client form all industrial segments throughout
FINANCE:
The Company
successfully completed second round of Venture Capital Funding to Strengthen
the financials of the Company. During the Year under review Axis Venture
Capital Fund along with some High Net Worth Investor have invested a sum of Rs.
300 millions in the Company and were allotted 13,07,631 Equity Shares of the Company of Rs. 10/- each fully .paid up, on a
Preferential basis. The Company is yet to allot 2280 Share Warrants in addition to equity shares issued during the
Current financial Year to these investors. As Per the Investor's Agreement
entered into between the Company and these Investors, each Share Warrant to be issued is convertible into
Hundred Equity share of Rs.10 each at par in case of non
fulfillment of certain terms and
conditions stated In the Investor Agreement entered into by the Company.
During the year
under review, options outstanding under Employee Stock Option Plan (ESOP -
2006) were transferred to General Reserve due to waiver of options by all the
Employees. During the year under review, the Company introduced a Scheme for
Employee's Welfare, namely,
Employees Welfare Share Purchase Scheme (EWSPS). Under the Scheme, some
selected Employees of the Company were given opportunity to purchase the
Company's Shares from PARI Employee
Welfare Trust. During the year Employees have purchased 45970 Number of Shares.
The Company has also tied up necessary Term Loan .and Working Capital Limits from it's
Bankers.
OUTLOOK FOR THE
CURRENT YEAR: -
The Directors are
happy to note that the new Financial Year 2010 - 11 has began on a very encouraging note and a healthy
order book position, depicting signs of satisfactory progress in the economic.
Due to continued efforts in identifying new application areas and inventing
appropriate applicable product therefore, the Company Is confident of achieving
better results in the year's to come.
Fixed Assets:
- Land
- Building
- Electrification
- Equipments – others
- Equipments – Testing
- Material – Hnadling
- Equipment Crane
- Machinery (Including DG set)
- Computers
- Furniture
- Office Equipment
- Capital Work In Progress
Form 8:
|
Corporation identity number or foreign company registrations number of the company |
U72200PN1990PLC057687 |
|
Name of the company |
PRECISION AUTOMATION AND ROBOTICS INDIA LIMITED |
|
Address |
Narhe Works, S. No. 38/2, Village Narhe Off |
|
This Form is for |
Modification of charge |
|
Charge Identification (ID) number of the charge |
10073026 |
|
Type of Charges |
· Immovable property · Book Debts · Movable Property |
|
Particular of the charge holder |
Bank of |
|
Nature or description of the instrument creating charge |
Letter from Bank of |
|
Date of the instrument creating charge |
11.11.2009 |
|
Amount Secure by the charge |
Rs. 2265.446 millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
Rate of interest As notified by the bank from time to time.
Terms of repayment As notified by the bank
Margin As per norms of Bank
Extent and operation of the charge First Charge |
|
Short particulars of the property charged |
Land admeasuring 1 H 58.05 R situate at S. No. 38 Hissa No. 2/5, 2/6, 2/17, 2/22, and 2/23 village Narhe Taluka Haveli District Pune. Land admeasuring 29 H 63.644 R situate at Gate No. 463/A, 463/B and 464 at Village Dhangarwadi, Taluka Khandala District Satara. Factory Sheds, Building, situate at S. No. 38 Hissa No. 2/5, 2/6, 2/17, 2/22, and 2/23 village Narhe Taluka Haveli District Pune and Gate No. 463/A, 463/B and 464 at Village Dhangarwadi, Taluka Khandala District Satara. Fixed plant and machinery and movable plant and machinery and other movable assets situate at S. No. 38 Hissa No. 2/5, 2/6, 2/17, 2/22, and 2/23 village Narhe Taluka Haveli District Pune and Gate No. 463/A, 463/B and 464 at Village Dhangarwadi, Taluka Khandala District Satara. All current assets including stocks raw material, stock in progress, semi finished and finished goods of the company |
|
Particulars of the present modification |
Letter from Bank of India in connection with the creation of Rs. 2265.446 Millions to be taken on records. There is no charge in facilities and amount and other terms and conditions remains unchanged. |
|
|
U72200PN1990PLC057687 |
|
Name of the company |
PRECISION AUTOMATION AND ROBOTICS INDIA LIMITED |
|
Address |
1203/A, |
|
This Form is for |
Modification of charge |
|
Type of Charges |
Immovable property |
|
Particular of the charge holder |
Kotak Mahindra Bank Limited, 36-38A,
Nariman Bhavan, 227, D Nariman Point, Mumbai-400021, |
|
Nature or description of the instrument creating charge |
Memorandum of deposit of title deed dated 06.02.2007 |
|
Date of the instrument creating charge |
06.02.2007 |
|
Amount Secure by the charge |
Rs.20.000 millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
Rate of interest Short term loan of Rs.20.000 millions. Rate of interest @ 10.50% p.a. Panel interest @ 24% p.a. Compounding monthly
Terms of repayment Repayment at the end of tenure
Margin As per terms and conditions mentioned in the agreement and bank rule
Extent and operation of the charge As first/ Exclusive charge byway of hypothecation of movable assets of borrower both present and future in favour of bank. Equitable mortgage in respect in immovable properties belonging to borrower situated at D-1 admeasuring 7190 Sq.mtrs. situated at Industrial Area Surajpur site V, Kasna, Greater Noida, Uttar Pradesh |
|
Modification charge Charge identification number of the charge to be modified |
10014305 |
|
Particulars of the Property charged |
D-1 admeasuring 7190 Sq.mtrs. situated at Industrial Area Surajpur site V, Kasna, Greater Noida, Uttar Pradesh |
|
Particulars of the present modification |
Additional property situated at D-1 admeasuring 7190 Sq.mtrs. situated at Industrial Area Surajpur site V, Kasna, Greater Noida, Uttar Pradesh |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U72200PN1990PLC057687 |
|
Name of the
company |
PRECISION AUTOMATION AND ROBOTICS INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in |
Narhe Works, S. No.38/2, Village Narhe Off Pune, |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Bank of E-Mail: boipcbb@vsnl.net |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement |
|
Date of
instrument Creating the charge |
06.10.2008 |
|
Amount secured by
the charge |
Rs.0.541 millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
@ 1.75% below
BOIPLR with a minimum of 12.25% p.a. or as notified by the bank from time to
time. Terms of
Repayment: 48 installments
of Rs.0.014 Million commencing from October, 2008. Margin: As per
Bank Norms Extent and
Operation of the charge: First Charge Others Vehicle Loan |
|
Short particulars
of the property charged |
Hypothecation of new purchased vehicle swift vai (ABS) model together
with spares and accessories |
FORM 8
|
Corporate
identity number of the company |
U72200PN1990PLC057687 |
|
Name of the
company |
PRECISION AUTOMATION AND ROBOTICS INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in |
Narhe Works, S. No.38/2, Village Narhe Off Pune, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Bank of Email:
dhaneshr@parirobotics.com |
|
Nature of
instrument creating charge |
01. Deed of further
charge (without possession) 02.Second
supplemental joint deed of hypothecation Both the
documents for same modification |
|
Date of
instrument Creating the charge |
30.10.2010 |
|
Amount secured by
the charge |
Rs. 2306.250
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Extent and operation of the charge For Working
Capital facilities & NF based facilities
: First pari passu charge on all current assets, book debts, bills
receivables. Second pari passu charge by way of hypo. on all movable plant
and machinery and movable assets. Second pari passu charge by way of mortgage
of immovable property of the company. Other For TL facilities
: First pari passu charge by way of
hypo. on all movable plant & machinery and movable assets. First pari passu charge by way of mortgage of
immovable property of the company. Second pari passu charge on all current
assets, book debts, bills receivables. |
|
Short particulars
of the property charged (Including location of the property) |
A Narhe Property:
All that piece and parcel of Immovable Property being land bearing S. No.38,
Hissa No.2/23 admg 0H 40R alongwith Road admg 0H 08R 5P i.e. 20 feet x 473
Feet Road Plot from Narhe All that piece
and parcel of Immovable Property being land bearing S.No.38, Hissa No.2/23
admg 0H 20R from village Narhe, Taluka Haveli, Dist Pune All that piece
and parcel of Immovable property being land bearing S.No.38, Hissa No.2/17
admg 0H 35.50R form village Narhe, Tal. Haveli, Dist Pune All that piece
and parcel of immovable property being land admg 20R equal to 2000 sq. mtrs.
out of 0H 83.5R situated at S. No.38, Hissa No.2/22 in industrial zone at
mouje: Narhe, Tal. Haveli, Dist Pune All that piece
and parcel of immovable property being land bearing S.No.38, Hissa No.2/5
admg.0H 17.25R i.e. 1725 sq. mtrs. from village Narhe, Tal. Haveli, Dist.:
Pune All that piece
and parcel of immovable property being land bearing S.No.38, Hissa No.2/6
admg.0H 17.25R i.e. 1725 sq. mtrs. from village Narhe, Tal. Haveli, Dist Pune B. Dhangarwadi
Property: All that piece and parcel of lands situated at Dhangarwadi within
the limits of Zilla parishd: Satara, Tal.:Panchayat Samiti Khandala,
Grampanchayat:Dhangarwadi and within the 13H 04.604 (out
of total Area of 18H 75R) respectively. Hypo. of current assets stock of raw
materials, stock in process, semifinished and finished goods,BR, book debts,
movables. at Narhe and Dhangarwadi whole of movable
assets of co. including its movable plant and machinery, machinery spares,
tools, accessories, utility equipments, vehicles and other movable assets at
Narhe and Dhangarwadi |
|
Date of
instrument modifying the charge |
11.11.2009 |
|
Particulars of
the present modification |
BOI Consortium ( comprising
of BOI, IDBI, HDFC, BOB, SIDBI) revised /enhanced the credit facilities from
Rs.2265.446 millions to Rs.2306.250 millions Security of hypothecated assets
and mortgaged property created earlier will constitute security in favour of
the BOI Consortium for the revised / enhanced limit of Rs.2306.250 millions. |
Website Details :
Subject is amongst the largest global automation companies
with over 500 employees and 8 facilities worldwide. The solid engineering
strength enables Subject to be a
complete “Solution Provider”, from conceptualizing, designing, manufacturing,
implementing and supporting advanced factory automation systems. It provides
its customers with the solutions they need to enhance productivity and achieve
their manufacturing goals.
The company began operations in 1990, and has experienced
business growth exceeding 50% year on year, though innovative solutions and
focus on complete customer satisfaction.
Subject has provided over 600 automated solutions world wide. Subject
was founded by technocrats with the knowledge and experience to understand the
needs of the manufacturing industry.
Striving for excellence in every step of the process from
sales to commissioning has allowed subject to attain success. This excellence
can be seen in their products, people and solutions.
Subject is a Global Automation Solution provider using
world class Robotic products and technologies
Team
Subject has a unique distinction of one of the largest experienced Automation and Robotic engineering teams under one roof. Subject has over 2000 man-years of automation experience, giving it an unparalleled advantage of achieving complete success on the assignments taken.
Team Strength
Over 500 employees with a 30% growth annually
More than 350 qualified engineers with skills in machine
design, controls, software, manufacturing, quality control, equipment
manufacturing an project management
Training system of training and inducting 100 fresh
graduates every year with new in house state of the art training facility
Products and Services
Subject has a unique blend
of robotic system integration, product design and manufacturing and machine
building abilities, enabling it to provide the customers a complete solution,
which is the best fit for the requirement.
Standard Products
Subject integrates standard robots from most
manufacturers, manufactures a standard range of gantry and portal robots, and
designs and builds integration components like transporters, trunions,
auxiliary axis, robotic enclosures and end-arm tooling. Subject manufactured standard products are
available for third party system integrators and partners for use in systems
being built or integrated by them.
Success Stories
Subject has an installed base of over 600 successful systems. Here we
present a few examples of what the customer requirements was, what solution was
provided by subject, and what was the achieved result for the customer.
Standard Articulated Robot
v Auxiliary Axis Modules (Linear and
Rotary)
Customers
For Subject, Customer is the
focal point. Taking care of Customer is their business. A PARI project is
complete only when it starts working for the customer, and not customer working
to get it working. It is this single minded business principle has achieved a repeat
business rate of over 98% for customers who have deployed further automation.
Partnerships:
Partnerships are one of the core values at Subject. Subject believes that the synergies formed with the right company
can achieve exceptional solutions.
A few partnerships formed are:
v PARI- MARPOSS – Gauging Applications
v PARI- CINETIC – Converyors and Vehicle Assembly
v PARI- DANAHER – Automated Guided Vehicles
v PARI- KNIGHT – Overhead Rails
v PARI- ATEQ – Leak Testing
v PARI- KMT – Waterjet Cutting
v PARI- REINHART – Engine Plug Fitting
v PARI – FANUC – Authorized Robot Integrator
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 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.46.38 |
|
|
1 |
Rs.74.01 |
|
Euro |
1 |
Rs.64.48 |
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 |
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 |
|
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.