MIRA
INFORM REPORT
|
Report Date : |
16.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
RANE AXLE AND PRESSING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 310, Sector No. 7, Pcntda Bhosari, Pune – 411026, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
31.08.2007 |
|
|
|
|
Com. Reg. No.: |
11-130632 |
|
|
|
|
Capital Investment/
Paid-up Capital: |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300PN2007PTC130632 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNER11034C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR7071E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Motor Vehicle Parts |
|
|
|
|
No. of Employees : |
194 (In office 12 + In factory 175) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 60000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track records.
Trade relations are reported as fair. Business is active. Payments are reported
to be slow but correct. The company can be considered for small to mediocre 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.
INFORMATION PARTED BY
|
Name : |
Mr. Arvind Dushing |
|
Designation : |
General Manager (Finance) |
|
Contact No.: |
91-9850893277 |
|
Date : |
13.04.2012 |
LOCATIONS
|
Registered Office / Factory: |
Plot No. 310, Sector No. 7, Pcntda Bhosari, Pune – 411026, |
|
Mobile No.: |
91-9850893277 (Mr. Arvind) 91-9850665500 (Mr. Manish Rane) |
|
E-Mail : |
|
|
Area: |
14000sq.fts |
|
Location : |
Owned |
|
|
|
|
Branches: |
·
Plot No.J-283, MIDC, Bhosari, Pune – 411026,
Maharashtra, India ·
Plot No.56/19, D-II Block MIDC, Chinchwad, Pune –
411019, Maharashtra, India |
|
Area: |
20000sq.fts |
|
Location : |
Owned |
DIRECTORS
AS ON: 30.09.2011
|
Name : |
Mr. Bhiva Shankarrao Rane |
|
Designation : |
Director |
|
Address : |
Jaywant, Sector 28, Plot No. 12, Ganga Nagar, Pradhikaran Nigdi, Pune
– 411044, Maharashtra, India |
|
Date of Birth/Age : |
12.12.1952 |
|
Qualification : |
DME |
|
Experience : |
25 years |
|
Date of Appointment : |
31.08.2007 |
|
DIN No : |
01710615 |
|
|
|
|
Name : |
Mr. Manish Bhaiva Rane |
|
Designation : |
Director |
|
Address : |
Jaywant, Sector 28, Plot No. 12, Ganga Nagar, Pradhikaran Nigdi, Pune –
411044, Maharashtra, India |
|
Date of Birth/Age : |
17.02.1984 |
|
Qualification : |
B.com |
|
Experience : |
05 years |
|
Date of Appointment : |
31.08.2007 |
|
DIN No : |
01710547 |
|
|
|
|
Name : |
Ms. Sushma Bhiva Rane |
|
Designation : |
Director |
|
Address : |
Jaywant, Sector 28, Plot No. 12, Ganga Nagar, Pradhikaran Nigdi, Pune
– 411044, Maharashtra, India |
|
Date of Birth/Age : |
12.08.1956 |
|
Qualification : |
B.A |
|
Experience : |
15 years |
|
Date of Appointment : |
31.08.2007 |
|
DIN No : |
01710697 |
|
|
|
KEY EXECUTIVES
|
Name : |
Mr. Arvind Dushing |
|
Designation : |
General Manager (Finance) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Bhiva Shankarrao Rane |
|
5000 |
|
Manish Bhaiva Rane |
|
2500 |
|
Sushma Bhiva Rane |
|
2500 |
|
Total |
|
10000 |
AS ON: 30.09.2011
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Motor Vehicle Parts |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
194 (In office 12 + In factory 175) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
HDFC Bank, Kamla Cross Building, opposite PCMC, Pimpri, Pune – 411017,
Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
CC – Rs.45.000 Millions
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V P Bhate and Company Chartered Accountant |
|
Address : |
|
|
Tel. No.: |
91-20-66111332 |
|
PAN No : |
AAPPB8920R |
|
|
|
|
Sister Concern: |
Rane Industries Private Limited Address: Gat No.52, Dehu
– Alandi Road, Talawade, Pune –
412114, Maharashtra, India Line of
Business: Manufacturing of Motor Vehicle Parts, Tractor Parts, |
CAPITAL STRUCTURE
AS ON: 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Share |
Rs.10/- each |
Rs.0.100
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
16.117 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
16.217 |
0.100 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.981 |
27.792 |
8.874 |
|
|
2] Unsecured Loans |
29.116 |
16.343 |
8.993 |
|
|
TOTAL BORROWING |
44.097 |
44.135 |
17.867 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
3.232 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
60.314 |
47.467 |
17.967 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
25.922 |
23.076 |
27.549 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.168
|
13.462 |
4.451 |
|
|
Sundry Debtors |
111.651
|
43.679 |
20.127 |
|
|
Cash & Bank Balances |
0.248
|
0.250 |
0.151 |
|
|
Other Current Assets |
0.285
|
15.650 |
18.157 |
|
|
Loans & Advances |
3.000
|
1.205 |
0.500 |
|
Total
Current Assets |
127.352
|
74.246 |
43.386 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
87.229
|
50.061 |
56.036 |
|
|
Other Current Liabilities |
4.877
|
2.778 |
|
|
|
Provisions |
1.444
|
0.000 |
0.000 |
|
Total
Current Liabilities |
93.550
|
52.839 |
56.036 |
|
|
Net Current Assets |
33.802
|
21.407 |
(12.650) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
Deposit |
0.590 |
2.984 |
3.068 |
|
|
|
|
|
|
|
|
TOTAL |
60.314 |
47.467 |
17.967 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
478.660 |
280.798 |
277.089 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
461.936 |
275.329 |
273.900 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
16.724 |
5.469 |
3.189 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.607 |
2.154 |
3.264 |
|
|
|
|
|
|
|
|
|
|
Net Profit |
14.117 |
3.315 |
(0.075) |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
750.00 |
|
|
|
|
|
The above information has been parted by Mr. Arvind
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.21
|
3.40 |
(0.10) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.87
|
33.15 |
(0.75) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.49
|
969.74 |
739.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36
|
1.40 |
0.77 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry
Creditors
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
87.229 |
50.061 |
56.036 |
|
|
|
|
|
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last two years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
Yes |
|
Major
Customers |
Yes |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U34300PN2007PTC130632 |
|
Name of the
company |
RANE AXLE AND
PRESSING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No 310,
Sector No 17, Pcntda Bhosari, Pune – 411026, |
|
This form is for |
Creation
of charge |
|
Type of charge |
|
|
Particular of
charge holder |
Centurion Bank Of
Punjab Limited Pimpri Branch,
Pune – 411018, E-Mail: iut@eth.net |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of goods, vehicle, plant and machinery, stocks and book debts. |
|
Date of instrument
Creating the charge |
22.01.2008 |
|
Amount secured by
the charge |
Rs.55.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 2.50% below BPLR i.e.
12.50% with monthly / daily rest on the balance outstanding Terms of
repayment CC -Repayable on
demand Margins Stock, raw
material, finished goods etc existing and to be purchase from time to time :
25% Book Debts : 30% Extend and
operation of the charge Security created
by way of first charge to cover the principal amount together with interests,
liquidated damages, costs, charges, expenses etc. |
|
Short particulars
of the property or asset(s) charged (including complete address and location of
the property) |
All existing as well as future plant and
machinery. Entire current assets (present and future)
including all stocks of raw materials such as merchandise and finished goods
and semi finished goods and stocks in process. The present & future book debts,
outstanding, money receivables, claims, bills etc.; All the above
situated at the borrower's premises/godown at Pune or wherever else. and Exception:Plant & machinery
hypothecate to SIDBI approx market value of Rs.7.000 Millions |
Trade References:
- Tata Motors Limited
- Essar Steel Limited
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.51.41 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.66 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
No |
|
--AFFILIATION |
YES/NO |
No |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
43 |
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.