MIRA
INFORM REPORT
|
Report Date : |
11.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
MTAR TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
18, Technocrats Industrial Estate, Balanagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
11.11.1999 |
|
|
|
|
Com. Reg. No.: |
01-32836 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.282.139 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200AP1999PTC032836 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDM01111F / HYDM02650E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM2021N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ball screws which are widely used in feeding
mechanisms, CNC machine tools, power reactors, highly accurate measuring
instruments and in other applications. |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There appears
continuous decline in the profitability of the company. The company has
incurred some loss during the current year. However Trade relations are reported as decent. Business is active.
Payment terms are reported to be usually correct. The company can be considered for business 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 : |
18, Technocrats Industrial Estate, Balanagar, |
|
Tel. No.: |
91-40-44553333 |
|
Fax No.: |
91-40-44553322 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
|
|
Tel. No.: |
91-44-44555999 |
|
Fax No.: |
91-40-4455903 |
|
|
|
|
Factory 2 : |
Plot No.97 and 100 A, Co-Operative
Industrial Estate(E.P), Gandhi Nagar, |
|
Tel. No.: |
91-40-44529999 |
|
Fax No.: |
91-40-44529933 |
|
|
|
|
Factory 3 : |
Plot No.58/C Phase 1 Near |
|
Tel. No.: |
91-40-23095209 |
|
Fax No.: |
91-40-40034400 |
|
|
|
|
Factory 4 : |
Plot B 34, Balanagar, |
|
Tel. No.: |
91—40-23073483 |
DIRECTORS
As on: 28.09.2011
|
Name : |
Mr. Rangachary Nambi Iyengar |
|
Designation : |
Director |
|
Address : |
8, Ministers Bunglow Kundan Bagh, |
|
Date of Birth/Age : |
10.06.1938 |
|
Date of Appointment : |
18.03.2007 |
|
Din No.: |
00054437 |
|
|
|
|
Name : |
Mr. Parvatha Reddy Jayaprakash Reddy |
|
Designation : |
Whole Time Director |
|
Address : |
H. NO.7-1-214/9, Ameerpet, |
|
Date of Birth/Age : |
01.11.1939 |
|
Date of Appointment : |
11.11.1999 |
|
Din No.: |
00058021 |
|
|
|
|
Name : |
Mr. Parvatha Reddy Ravindra Reddy |
|
Designation : |
Whole Time Director |
|
Address : |
H. NO.7-1-214/9, Ameerpet, |
|
Date of Birth/Age : |
24.06.1938 |
|
Date of Appointment : |
11.11.1999 |
|
Din No.: |
00058142 |
|
|
|
|
Name : |
Mr. Kallem Satyanarayana Reddy |
|
Designation : |
Whole Time Director |
|
Address : |
H. NO.7-1-214/10, Ameerpet, |
|
Date of Birth/Age : |
01.10.1938 |
|
Date of Appointment : |
11.11.1999 |
|
Din No.: |
00058220 |
|
|
|
|
Name : |
Posimreddy Kalpana Reddy |
|
Designation : |
Director |
|
Address : |
Plot No.60, Flat No.302, Jyothi Homes, |
|
Date of Birth/Age : |
28.07.1961 |
|
Date of Appointment : |
25.10.2007 |
|
Din No.: |
00137376 |
|
|
|
|
Name : |
Mr. Richard Blaise Saldanha |
|
Designation : |
Director |
|
Address : |
House No.24, Senor Valley, 13th Road, Filmnagar, Jubilee
Hills, Hyderabad – 500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
03.02.1944 |
|
Date of Appointment : |
30.09.2008 |
|
Din No.: |
00189029 |
|
|
|
|
Name : |
Mr. Akhilesh Krishna Gupta |
|
Designation : |
Director |
|
Address : |
Flat No.803, Taj |
|
Date of Birth/Age : |
20.07.1952 |
|
Date of Appointment : |
30.09.2008 |
|
Din No.: |
00359325 |
|
|
|
|
Name : |
Mr. Simhardi Reddy P |
|
Designation : |
Director |
|
Address : |
439, 11th Main, 3rd Block, Koramangala, |
|
Date of Birth/Age : |
14.05.1953 |
|
Date of Appointment : |
30.09.2008 |
|
Din No.: |
00380564 |
|
|
|
|
Name : |
Sreeramulu Vuthandam |
|
Designation : |
Director |
|
Address : |
E-99,Sainik puri, Kushaiguda, Ranga Reddy District-
500094, |
|
Date of Birth/Age : |
01.07.1935 |
|
Date of Appointment : |
18.03.2007 |
|
Din No.: |
01815687 |
|
|
|
|
Name : |
Mr. Mathew Cyriac |
|
Designation : |
Director |
|
Address : |
Kanchanjunga, Flat No.13, 12th Floor, 72 Peddar Rpoad,
Mumbai – 400026, |
|
Date of Birth/Age : |
20.05.1969 |
|
Date of Appointment : |
30.09.2008 |
|
Din No.: |
01903606 |
|
|
|
|
Name : |
Mr. Usha Reddy Chigarapalli |
|
Designation : |
Director |
|
Address : |
H. No.8-2-693/2/22, Banjara Hills, |
|
Date of Birth/Age : |
13.12.1969 |
|
Qualification : |
25.10.2007 |
|
Din No.: |
01924550 |
|
|
|
|
Name : |
Mrs. M Madhavi Reddy |
|
Designation : |
Director |
|
Address : |
H. No.8-2-401/C/4 Road No.5, Banjara Hills, |
|
Date of Birth/Age : |
27.06.1969 |
|
Date of Appointment : |
25.10.2007 |
|
Din No.: |
01933383 |
KEY EXECUTIVES
|
Name : |
P. Srinivas Reddy |
|
Designation : |
President – Operations and Commercial Services |
|
|
|
|
Name : |
G. V. Satish Kumar Reddy |
|
Designation : |
President – Business Development |
|
|
|
|
Name : |
K. Vamshidhar Reddy |
|
Designation : |
President – IT and Lean Management |
|
|
|
|
Name : |
P. Sasidhar Reddy |
|
Designation : |
Vice President – Heat and surface treatment, |
|
|
|
|
Name : |
D. Dinesh Reddy |
|
Designation : |
Vice President - Planning |
|
|
|
|
Name : |
A. Praveen Kumar Reddy |
|
Designation : |
Vice President - Maintenance |
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2011
|
Names of Shareholders |
No. of Shares |
|
P Jayaprakash Reddy |
1454471 |
|
K Shalini |
2091477 |
|
P Leelavathi |
2386585 |
|
C Usha Reddy |
1204080 |
|
G Kavitha Reddy |
1204080 |
|
D Anitha Reddy |
1204070 |
|
A Manogna |
1043913 |
|
M Madhavi |
1043913 |
|
P Kalpana Reddy |
1324970 |
|
Saranya Loka Reddy |
1234265 |
|
K Vamshidhar Reddy |
2091477 |
|
|
1324960 |
|
P Girija |
1204080 |
|
Blackstone GPV Capital Partners ( |
3977975 |
|
Blackstone GPV Capital Partners ( |
3464887 |
|
Blackstone GPV Capital Partners ( |
1537183 |
|
Blackstone GPV Capital Partners ( |
330525 |
|
P S Reddy |
90975 |
|
TOTAL |
28213886 |
As on: 28.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
33.00 |
|
Directors or relatives of directors |
|
66.68 |
|
Other top fifty shareholders |
|
0.32 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ball screws which are widely used in feeding mechanisms,
CNC machine tools, power reactors, highly accurate measuring instruments and
in other applications. |
|
|
|
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
31.03.2010 |
|
Actual Production / unit sold (nos.) |
19894 |
GENERAL INFORMATION
|
|
|
||||||
|
No. of Employees : |
Not Available |
||||||
|
|
|
||||||
|
Bankers : |
State Bank of |
||||||
|
|
|
||||||
|
Facilities : |
Rs.
In Millions
(A) Short term loans from Banks: Export packing credit = 60.495 Millions Cash Credit from Banks = 178.549 Millions Stand by Line of Credit = 50.308 Millions TOTAL = 289.353 Millions (B) Short term loans from Banks: Cash credit from Banks =
150.000 Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R Company Chartered Accountant |
|
Address : |
Reliance Humsafar, IV Floor, Road No. 11, Banjara Hills, |
|
Pan No.: |
AAIFB0630K |
|
|
|
|
Other Related Party : |
· Samuha Engineering Industries Limited · B2b Software Technologies Limited (till 9 February 2011) ·
Nettlinx Limited |
|
|
|
|
Subsidiaries : |
·
Modular Tools Private Limited CIN No. : U29219AP1993PTC016055 ·
Montage Manufacturer Private Limited CIN No. : U29268AP2009PTC065698 ·
MTAR Metal Treatment Systems Private Limited CIN No.: U27200AP2009PTC065696 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Share |
Rs.10/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28213886 |
Equity Share |
Rs.10/- each |
Rs.282.139
Millions |
|
|
|
|
|
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 |
282.139 |
282.139 |
282.138 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2040.194 |
2056.146 |
2012.708 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2322.333 |
2338.285 |
2294.846 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
289.353 |
150.000 |
164.158 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
289.353 |
150.000 |
164.158 |
|
|
DEFERRED TAX LIABILITIES |
95.769 |
117.013 |
28.547 |
|
|
|
|
|
|
|
|
TOTAL |
2707.455 |
2605.298 |
2487.551 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1294.777 |
991.101 |
665.893 |
|
|
Capital work-in-progress |
208.611 |
213.692 |
282.426 |
|
|
|
|
|
|
|
|
INVESTMENT |
356.799 |
334.361 |
653.891 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
393.691
|
332.589 |
713.403 |
|
|
Sundry Debtors |
232.002
|
211.993 |
265.751 |
|
|
Cash & Bank Balances |
64.801
|
92.154 |
108.781 |
|
|
Other Current Assets |
618.955
|
725.860 |
0.000 |
|
|
Loans & Advances |
186.056
|
128.757 |
152.787 |
|
Total
Current Assets |
1495.505
|
1491.353 |
1240.722 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
33.612
|
13.317
|
7.881
|
|
|
Other Current Liabilities |
606.508
|
403.454
|
347.000
|
|
|
Provisions |
8.117
|
8.438
|
0.500
|
|
Total
Current Liabilities |
648.237
|
425.209 |
355.381 |
|
|
Net Current Assets |
847.268
|
1066.144 |
885.341 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
2707.455 |
2605.298 |
2487.551 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from operations |
543.700 |
1102.532 |
937.536 |
|
|
|
Other Income |
15.200 |
16.829 |
74.908 |
|
|
|
TOTAL (A) |
558.900 |
1119.361 |
1012.444 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
328.015 |
7.395 |
|
|
|
Material costs |
|
221.241 |
391.673 |
|
|
|
Manufacturing costs |
|
89.260 |
79.603 |
|
|
|
Personnel costs |
|
184.416 |
151.203 |
|
|
|
Administration and Selling Expenses |
|
0.000 |
0.000 |
|
|
|
Operating and other expenses |
|
66.515 |
65.687 |
|
|
|
Preliminary expenses written off |
|
0.000 |
0.000 |
|
|
|
Prior period items (net) |
|
13.510 |
0.345 |
|
|
|
TOTAL (B) |
506.400 |
902.957 |
695.906 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
52.500 |
216.404 |
316.538 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
CHARGES (D) |
19.700 |
17.132 |
31.294 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
32.800 |
199.272 |
285.244 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
59.400 |
45.846 |
32.933 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(26.600) |
153.426 |
252.311 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(10.600) |
109.988 |
81.078 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(16.000) |
43.438 |
171.233 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
501.214 |
457.776 |
362.503 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to capital redemption reserve |
NA |
0.000 |
75.960 |
|
|
BALANCE CARRIED
TO THE B/S |
485.214 |
501.214 |
457.776 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
143.946 |
29.684 |
68.498 |
|
|
TOTAL EARNINGS |
143.214 |
26.684 |
68.498 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
116.766 |
145.745 |
|
|
|
Raw Materials |
NA |
83.223 |
251.438 |
|
|
|
Consumables and Spares |
NA |
7.417 |
8.395 |
|
|
TOTAL IMPORTS |
NA |
207.406 |
405.578 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
(0.57) |
3.74 |
4.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(2.86)
|
3.88
|
16.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(4.89)
|
13.92
|
26.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.95)
|
6.18
|
13.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
0.07
|
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.40
|
0.25
|
0.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31
|
3.51
|
3.49 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
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 three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
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 |
Future Outlook of the
Business
The outlook of the business is bright provided we take enough measures in the short term to manage our resources effectively and carry out our belt tightening exercise rigorously. The turnover of the company is expected to do substantially better in FY 12 through execution of our order book.
The MNC business is expected to grow significantly with the introduction of Bloom Energy and Schlumberger businesses. The Company has now started looking inwards with the intention of building capacity for quality delivery and the following main initiatives are being undertaken:
Operational efficiencies
Renewal and expansion of precision machining capability
Quality systems and certifications mainly for EOU business
FORM 8
|
Corporate identity number of the company |
U72200AP1999PTC032836 |
|
Name of the company |
MTAR TECHNOLOGIES PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
18, Technocrats Industrial Estate, Balanagar, Email: hyd1_mtarmarc@sancharnet.in
|
|
This form is for |
Modification of charge |
|
Charge identification number of the modified |
90127605 |
|
Type of charge |
·
Immovable property ·
Book debts ·
Movable property ·
Floating charge |
|
Particular of charge holder |
State Bank of Balanagar Branch, Balanagar, |
|
Nature of description of the instrument creating or modifying the
charge |
1) Supplemental Agreement of Hypothecation of Goods and Assets for
increase in the overall Limit 2) Memorandum for recording extension of mortgage by deposit of title
deeds covering enhanced limits and/or creation of equitable mortgage on
additional properties for existing limits and enhanced limits and additional
facilities 3) Letter regarding the grant
of individual limits within the overall limit 4) Supplemental Agreement of loan for increase in the overall limit |
|
Date of instrument Creating the charge |
25.02.2011 |
|
Amount secured by the charge |
Rs.1720.000 millions |
|
Brief particulars of the principal terms an conditions and extent and
operation of the charge |
Rate of
interest: CC: At 4.25% above Base Rate, Base Rate = 8.25%, SLC: at 1.00% above
rate applicable to CC, TL- at 4.75%
above Base Rate. Terms of
repayment: 1) Working Capital : On demand. 2) Term Loan : Repayable in 3 annual installments of Rs.90.0000
millions each in Dec 2011, Dec 2012 and Dec 2013. Margin: 1) Raw Materials - 25% 2) Stock-in-process - 40% 3) Finished goods - EPC - 10% 4) Term Loan - 33% 5) Book debts / receivables (Cover period 90 days) - 40% 6) Bank Guarantee - 5% 7) Letter of Credit - 10% Extent and
operation of the charge: The charge operates as security, inter alia, for the due repayment by the
company to the State Bank of India, Balanagar Branch, Hyderabad for its
limits sanctioned to the extent of Rs.1720.000 millions, together with
interest, additional interest, liquidated damages, commitment charges, premia
on prepayment or on redemption, costs, charges, expenses and all other moneys
payable by the Company to State Bank of India, Balanagar Branch, Hyderabad. |
|
Short particulars of the property charged |
Hypothecation of Exclusive first charge on all the current assets of
the company namely stocks, stores and spares not relating to Plant and
Machinery (Consumable stores and spares) Bills Receivables and book debts and
all other current assets of the borrower. Hypothecation of the whole of the movable properties of the company
(Fixed Assets) including its movable Plant and Machinery whether to the earth
or otherwise, machinery spares, tools and accessories and others. EM of all that part and parcel of land and G + 5 storied RCC building
at S. No.149, D. No.1A, IDA, Gandhi Nagar, Qutbullapur Mandal, Hyderabad to
an extent of 12957.50 Sq. yds or Ac. 2.75 gts. EM of all that part and parcel of land and G +1 storied RCC building
at S. No.149, D. No.1A, IDA, Gandhi Nagar, Qutbullapur Mandal, Hyderabad to
an extent of 11963.00 Sq. yds or Ac. 2.50 gts . EM of all that part and parcel of land and GI sheet roof in One Floor
and RCC building in three floors at Plot No. 97 and 100A, Sy. No.374, IDA,
Gandhi Nagar, Qutbullapur Mandal, EM of all that part and parcel of land and 3 storied building at Plot
No.18, Sy. No.1, 2, 3, 40, 41, 42 and 43, TIE, Balanagar, All the above properties are standing in the name of the Company. |
|
Particulars of the present modification |
The existing limits of Rs.990.000 millions is enhanced to Rs.1720.000
millions. The details of the
individual limits are as under: (Amount Rs. in millions) 1. CC : Rs.250.000, 2. EPC / PCFC : Rs.100.000, 3. FBD / EBR -
Rs.50.000, 4. SLC : Rs.50.000, 5. Term Loan : Rs.270.000, 6. LC - Rs.150.000
and 7. BG - Rs.850.000. Total Limits Rs.1720.000 millions. |
COMMITMENTS AND CONTINGENT LIABILITIES
|
Particulars |
As
on 31.03.2011 Rs.
in millions |
As
on 31.03.2010 Rs.
in millions |
|
Bank guarantees issued by bank |
782.621 |
557.639 |
|
Letters of credit issued by bank |
253.420 |
50.596 |
|
Estimated amount of contracts remaining to be executed on capital account, net of advances |
257.179 |
132.433 |
|
Claims against the Company not
acknowledged as debt in respect of income tax matters, pending decisions on various appeals made
by the Company |
0.000 |
41.719 |
|
Un called liability on partly paid shares in Montage Manufacturers Private Limited |
3.954 |
3.953 |
|
MTAR Metal Treatment Systems Private Limited |
0.848 |
0.848 |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and machinery
·
Electrical Equipments
·
Furniture and Fixtures
·
Office Equipment
·
Computers
·
Vehicles
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.55.81 |
|
|
1 |
Rs.86.53 |
|
Euro |
1 |
Rs.68.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.