|
Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
EXOTECH ZANINI INDUSTRIES PRIVATE LIMITED (w.e.f 18.12.2009) |
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Formerly Known
As : |
EXOTECH PLASTICS PRIVATE LIMITED |
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Registered
Office : |
Gat No 1102 Village Pirangut Taluka Mulshi, Pune – 411004, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
17.07.1996 |
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Com. Reg. No.: |
11-101162 |
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Capital
Investment / Paid-up Capital : |
Rs. 28.000 Millions |
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CIN No.: [Company Identification
No.] |
U25206MH1996PTC101162 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEE00556D |
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PAN No.: [Permanent Account No.] |
AAACE2275Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Plastic Components and Spare Parts of Various
Applications Especially for the Automobiles |
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|
No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 480000 |
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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 commitments. 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Shri Rangdgali |
|
Designation : |
Finance Manager |
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Contact No.: |
91-22-66758511 |
|
Date : |
13.06.2012 |
LOCATIONS
|
Registered Office : |
Gat No 1102 Village Pirangut Taluka Mulshi, Pune – 411004, |
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Tel. No.: |
91-20-66758511 / 66758515 |
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Fax No.: |
91-20-66758599 |
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E-Mail : |
DIRECTORS
AS ON 06.07.2011
|
Name : |
Mr. Rajiv Dinesh Kothari |
|
Designation : |
Managing Director |
|
Address : |
4, Alpana, 60, |
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Date of Birth/Age : |
20.06.1964 |
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Date of Appointment : |
09.05.1997 |
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DIN No. : |
00165707 |
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|
|
|
Name : |
Mr. Umesh Dinesh Kothari |
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Designation : |
Additional Director |
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Address : |
125, clover Hill
Undri Pisoli Rd, Kondhva KD, Pune 411048, Maharashtra, India |
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Date of Birth/Age : |
17.02.1959 |
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Date of Appointment : |
24.07.2010 |
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DIN No. : |
00165640 |
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|
|
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Name : |
Luca Laudicina |
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Designation : |
Additional Director |
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Address : |
Via Correggio ,
67,Milano Me, |
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Date of Birth/Age : |
14.10.1970 |
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Date of Appointment : |
24.07.2010 |
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DIN No. : |
02671515 |
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Name : |
Simone Giovanni Giuseppe Zanini |
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Designation : |
Additional Director |
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Address : |
Piazza Castello,
22, Milano – 20121, |
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Date of Birth/Age : |
25.01.1970 |
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Date of Appointment : |
24.07.2010 |
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DIN No. : |
02793096 |
KEY EXECUTIVES
|
Name : |
Mr. Shri Rangdgali |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 06.07.2011
|
Names of Shareholders |
No. of Shares |
|
Umesh D Kothari |
559941 |
|
Rajiv Kothari |
560040 |
|
Dinesh Kothari |
280019 |
|
Zanini Holding Spa – Italia |
1400000 |
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TOTAL |
2800000 |
AS ON 06.07.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Directors or relatives of Directors |
50.00 |
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TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Plastic Components and Spare Parts of
Various Applications Especially for the Automobiles |
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|
|
|
Products : |
Automotive Products |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Automobile Components |
Nos. |
1566000 |
8134352 |
|
Plating |
Sq. Ft. |
791250 |
832500 |
GENERAL INFORMATION
|
Customers : |
·
TATA ·
GM ·
FIAT ·
Mahindra ·
John Deere ·
Force ·
Swaraj Mazda ·
Renault ·
Fird ·
Ashok Leyland |
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No. of Employees : |
Information not given by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Sudit K Parekh and Company Chartered Accountant |
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Address : |
Ballard House, 2nd Floor, Ali Marzban Path, Ballard Pier,
Fort, Mumbai – 400001, |
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Tel. No.: |
91-22-66178000 |
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Fax No.: |
91-22-66178002 |
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E-Mail : |
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Pan No. : |
AAPB9017P |
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Related Parties : |
·
Zanini Holding SPA, Italy ·
MGI Coutier Exotech Industries Private Limited ·
Dinesh and Compnay (Firm) |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2800000 |
Equity Shares |
Rs.10/- each |
Rs. 28.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2800000 |
Equity Shares |
Rs.10/- each |
Rs. 28.000
Millions |
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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 |
28.000 |
20.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
93.347 |
49.176 |
28.062 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
121.347 |
69.176 |
48.062 |
|
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LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
0.483 |
11.861 |
15.968 |
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2] Unsecured Loans |
11.248 |
18.448 |
19.756 |
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TOTAL BORROWING |
11.731 |
30.309 |
35.724 |
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DEFERRED TAX LIABILITIES |
1.685 |
0.863 |
1.344 |
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|
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|
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TOTAL |
134.763 |
100.348 |
85.130 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
40.627 |
38.895 |
43.541 |
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Capital work-in-progress |
0.592 |
0.675 |
0.675 |
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|
|
|
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|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
34.765
|
19.983
|
17.432 |
|
|
Sundry Debtors |
67.582
|
58.236
|
51.182 |
|
|
Cash & Bank Balances |
28.308
|
20.907
|
5.790 |
|
|
Other Current Assets |
3.080
|
2.994
|
4.781 |
|
|
Loans & Advances |
18.867
|
13.570
|
20.919 |
|
Total
Current Assets |
152.602
|
115.690 |
100.104 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
44.382
|
38.643 |
44.549 |
|
|
Other Current Liabilities |
8.029
|
7.340
|
14.972 |
|
|
Provisions |
6.647
|
8.929
|
(0.331) |
|
Total
Current Liabilities |
59.058
|
54.912 |
59.190 |
|
|
Net Current Assets |
93.544
|
60.778
|
40.914 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
134.763 |
100.348 |
85.130 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
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|
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TOTAL INCOME
INCLUDING OTHER INCOME |
331.222 |
281.412 |
179.628 |
|
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TOTAL EXPENSES
INCLUDING DEPRECATION |
299.277 |
247.369 |
175.829 |
|
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|
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|
|
|
|
|
|
PROFIT BEFORE
TAX |
31.992 |
33.946 |
3.870 |
|
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PROFIT AFTER TAX
|
21.370 |
21.227 |
2.195 |
|
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EARNINGS IN
FOREIGN CURRENCY |
|
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|
|
|
|
Export Earnings |
20.530 |
23.199 |
0.000 |
|
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TOTAL EARNINGS |
20.530 |
23.199 |
0.000 |
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
5.931 |
3.847 |
3.310 |
|
|
|
Capital Goods |
0.226 |
0.000 |
0.000 |
|
|
|
Machinery |
0.000 |
0.000 |
2.737 |
|
|
TOTAL IMPORTS |
6.157 |
3.847 |
6.047 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.34 |
10.61 |
1.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.45
|
7.54 |
1.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.56
|
21.96 |
2.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.49 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.60
|
1.24 |
2.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.58
|
2.11 |
1.69 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
No |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
|
8. No. of Employees |
No |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
Yes |
|
13. Reasons for variation <> 20% |
------- |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
Yes |
|
19. Payments terms |
No |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
Yes |
|
28. Incorporation details, if applicable |
Yes |
|
29. Last accounts filed at ROC |
Yes |
|
30. Major Shareholders, if available |
Yes |
THE DETAILS OF
SUNDRY CREDITORS:
Rs.
In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
- Due to Micro and small enterprises |
-- |
- |
- |
|
- others |
44.382 |
38.643 |
44.549 |
|
Total |
44.382 |
38.643 |
44.549 |
FIXED ASSETS
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. 55.85 |
|
|
1 |
Rs. 86.87 |
|
Euro |
1 |
Rs. 69.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
|
45 |
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.