MIRA
INFORM REPORT
|
Report Date : |
15.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
PMP AUTO COMPONENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Peninsula Spenta, Mathuradas Mills Compound, Senapati Bapat Marg,
Lower Parel, Mumbai – 400013, |
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Country : |
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|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
01.05.1996 |
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|
|
|
Com. Reg. No.: |
11-099236 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.53.665 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300MH1996PTC099236 |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturing and Exporter of Auto electrical components. |
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|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4500000 |
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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 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 PARTED BY
|
Name : |
Mr. Sanjay Desai |
|
Designation : |
Deputy General Manager |
|
Contact No.: |
91-22-28381669 |
|
Date : |
13.06.2012 |
LOCATIONS
|
Registered Office : |
Peninsula Spenta, Mathuradas Mills Compound, Senapati Bapat Marg,
Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66154651 |
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Fax No.: |
91-22-66154593 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office : |
35 B , Nirlon Complex, |
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Tel. No.: |
91-22-268506710 |
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Fax No.: |
91-22-26850424 |
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E-Mail : |
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|
|
|
|
Factory 1 : |
Ankleshwar, Gujarat, India |
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|
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|
Factory 2 : |
Setara, Pune, Maharashtra, India |
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Factory 3 : |
Rubrapur, Uttrakhand, India |
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Branch Offices : |
Located At · Bengaluru · Kolkata · Chennai · Delhi · Indore · Jaipur · Jalandhar · Mumbai · Pune · Vijaywada · Kanpur |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Urvi Ashok Piramal |
|
Designation : |
Director |
|
Address : |
61 A Piramal House, |
|
Date of Birth/Age : |
19.07.1952 |
|
Date of Appointment : |
30.12.1996 |
|
DIN No.: |
00044954 |
|
|
|
|
Name : |
Mr. Rajeev Ashok Piramal |
|
Designation : |
Director |
|
Address : |
61 A Piramal House, |
|
Date of Birth/Age : |
12.05.1976 |
|
Date of Appointment : |
12.08.2002 |
|
DIN No.: |
00044983 |
|
|
|
|
Name : |
Mr. Nandan Ashok Piramal |
|
Designation : |
Whole – Time- Director |
|
Address : |
61 A Piramal House, |
|
Date of Birth/Age : |
01.04.1981 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.10.2009 |
|
DIN No.: |
00045003 |
|
|
|
|
Name : |
Mr. Harshvardhan Ashok Piramal |
|
Designation : |
Director |
|
Address : |
61 A Piramal House, |
|
Date of Birth/Age : |
27.10.1973 |
|
Qualification : |
MBA |
|
Date of Appointment : |
18.07.2006 |
|
DIN No.: |
00044972 |
|
|
|
|
Name : |
Mr. Satya Narayan Somani |
|
Designation : |
Director |
|
Address : |
1002 Orchid, Vasant Valley Complex, Film City Road, Malad East, Mumbai
– 400097, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1954 |
|
Qualification : |
PGDM (IIM), B Tech (IIT) |
|
Date of Appointment : |
01.2.2003 |
|
DIN No.: |
00061893 |
|
|
|
|
Name : |
Mr. Amarnath P Agaewal |
|
Designation : |
Whole – Time – Director |
|
Address : |
20/403, Sanskruti CHSL, Opposite Lawrence School, Thakur, Kandivali,
Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
01.11.1949 |
|
Qualification : |
M Sc |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
02421633 |
|
|
|
|
Name : |
Mrs. Ambika Suneet Kothari |
|
Designation : |
Director |
|
Address : |
57, Sea View Worli Sea Face, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1977 |
|
Date of Appointment : |
17.05.2011 |
|
DIN No.: |
01162900 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Desai |
|
Designation : |
Deputy General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
EQUITY SHARES
|
Names of Shareholders |
|
No. of Shares |
|
Urvi Ashok Piramal |
|
459595 |
|
Harshvardhan Ashok Piramal |
|
965405 |
|
Onestar Mercantile Company Private Limited, India |
|
3066135 |
|
Total |
|
4491135 |
PREFERENCE SHARES
|
Names of Shareholders |
|
No. of Shares |
|
Urvi Ashok Piramal |
|
737999 |
|
Harshvardhan A Piramal Jointly with Ms. Urvi A. Piramal |
|
1 |
|
Total |
|
738000 |
As on 17.11.2011
EQUITY SHARES
|
Names of Allottees |
|
No. of Allotted |
|
Urvi Ashok Piramal |
|
766533 |
|
Urvi A. Piramal jointly with Harshvardhan A. Piramal |
|
766534 |
|
Urvi A. Piramal jointly with Rajeev A. Piramal |
|
766534 |
|
Urvi A. Piramal jointly with Nandan A. Piramal 61 A, Piramal |
|
763468 |
|
Nandan A. Piramal jointly with Urvi A. Piramal 61 A, Piramal |
|
3066 |
|
Total |
|
3066135 |
PREFERENCE SHARES
|
Names of Shareholders |
|
No. of Shares |
|
Urvi Ashok Piramal |
|
25439 |
|
Harshvardhan A Piramal |
|
4483 |
|
Rajeec A. Piramal |
|
4653 |
|
Nandan A. Piramal |
|
4612 |
|
Urvi A. Piramal jointly with Harshvardhan A. Piramal |
|
17500 |
|
Harshvardhan A. Piramal jointly with Urvi A. Piramal |
|
15000 |
|
Urvi A. Piramal jointly with Rajeev A. Piramal |
|
17500 |
|
Rajeev A. Piramal jointly with Urvi A. Piramal |
|
15000 |
|
Urvi A. Piramal jointly with Nandan A. Piramal |
|
17490 |
|
Nandan A. Piramal jointly with Urvi A. Piramal |
|
15010 |
|
Peninsula Land Limited, India |
|
190 |
|
Aarti Management Consultancy, India |
|
166 |
|
Aditi Management Consultancym India |
|
167 |
|
Anjoss Trading, Indi |
|
167 |
|
Total |
|
137377 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
68.27 |
|
Directors or relatives of Directors |
31.73 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Exporter of Auto electrical components. |
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Products : |
· Wiper Systems · Alternators · Wind Shield Washer Systems · Switches · Starter Motors ·
Industrial Motors
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Exports : |
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Products : |
Auto electrical components. |
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Countries : |
·
UK ·
USA ·
Germany ·
Italy ·
Saudi |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
China |
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Terms : |
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Selling : |
L/C / Cash / Credit |
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Purchasing : |
L/C / Cash / Credit |
GENERAL INFORMATION
|
Customers : |
OEM’s and Manufacturer ·
Tata ·
Maruti Suzuki ·
Plaggio ·
Gm ·
Mahindra ·
Elcher ·
Ashok Leyland ·
New Holland ·
Escorts ·
Same Deutz-Fahr ·
Tafe ·
Lonbardini ·
Hindustan Motors ·
Greaves ·
Cummins ·
Fiat |
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No. of Employees : |
600 (Approximately) |
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Bankers : |
The Saraswat Co-operative Bank Limited, Lower Parel Branch, Orbit
Eternia, N. M. Joshi Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountant |
|
Address : |
42, Free Press House, 215, Nariman Point, Mumbai – 400021, |
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Tel. No.: |
91-22-66391101/4 |
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Fax No.: |
91-22-22856237 |
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PAN.: |
AAAFH2010F |
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Subsidiaries : |
|
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|
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|
Subsidiary of
PMP Bakony Ablaktorlo Rendszerek KFT: |
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|
|
|
Subsidiary of
PMP Components ( |
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Associates : |
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Joint Venture : |
Miranda Tools Private Limited |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital : Rs.80.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.53.665 Millions
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6800000 |
Equity Shares |
Rs.10/- each |
Rs.68.000 Millions |
|
800000 |
Preference Shares |
Rs.10/- each |
Rs.8.000 Millions |
|
|
Total |
|
Rs.76.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4491135 |
Equity Shares |
Rs.10/- each |
Rs.44.911
Millions |
|
738000 |
Preference Shares |
Rs.10/- each |
Rs.7.380
Millions |
|
|
Total |
|
Rs.52.291 Millions |
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6800000 |
Equity Shares |
Rs.10/- each |
Rs.68.000 Millions |
|
800000 |
Preference Shares |
Rs.10/- each |
Rs.8.000 Millions |
|
|
Total |
|
Rs.76.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4628500 |
Equity Shares |
Rs.10/- each |
Rs.46.285
Millions |
|
738000 |
Preference Shares |
Rs.10/- each |
Rs.7.380
Millions |
|
|
Total |
|
Rs.53.665 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 |
53.665 |
52.291 |
44.911 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1085.208 |
848.598 |
253.049 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1138.873 |
900.889 |
297.960 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
637.055 |
274.868 |
107.279 |
|
|
2] Unsecured Loans |
2.304 |
174.550 |
321.790 |
|
|
TOTAL BORROWING |
639.359 |
449.419 |
429.069 |
|
|
DEFERRED TAX LIABILITIES |
23.426 |
17.118 |
5.482 |
|
|
|
|
|
|
|
|
TOTAL |
1801.658 |
1367.425 |
732.511 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
536.740 |
495.727 |
228.338 |
|
|
Capital work-in-progress |
87.633 |
150.343 |
16.297 |
|
|
|
|
|
|
|
|
INVESTMENT |
443.896 |
374.184 |
347.245 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
357.699
|
222.866
|
57.698 |
|
|
Sundry Debtors |
269.793
|
240.526
|
91.110 |
|
|
Cash & Bank Balances |
29.341
|
22.911
|
2.759 |
|
|
Other Current Assets |
16.764
|
7.460
|
5.688 |
|
|
Loans & Advances |
433.848
|
128.558
|
88.697 |
|
Total
Current Assets |
1107.445
|
622.321 |
245.952 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
214.965
|
144.541 |
64.831 |
|
|
Other Current Liabilities |
146.318
|
111.276 |
37.639 |
|
|
Provisions |
12.773
|
19.333
|
2.851 |
|
Total
Current Liabilities |
374.056
|
275.150 |
105.321 |
|
|
Net Current Assets |
733.389
|
347.171
|
140.631 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1801.658 |
1367.425 |
732.511 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1897.395 |
1494.867 |
454.008 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
1665.279 |
1360.101 |
436.152 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1665.279 |
1360.101 |
436.152 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
232.116 |
134.766 |
17.856 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
61.868 |
33.662 |
37.144 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
170.248 |
101.104 |
(19.288) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
36.822 |
33.570 |
9.122 |
|
|
|
|
|
|
|
|
|
|
Prior Period
Adjustment |
0.000 |
(0.316) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
133.426 |
67.218 |
(28.410) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
46.622 |
22.635 |
8.918 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
86.804 |
44.583 |
(19.492) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
54.274 |
10.202 |
29.695 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.861 |
0.511 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
140.217 |
54.274 |
10.203 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
288.816 |
203.612 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.18 |
0.81 |
NA |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
2000.000 |
Expected Sales (2012-13) : Rs.2200.000 Millions
The above information has been parted by Mr. Sanjay Desai
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.57
|
2.98 |
(4.29) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.12
|
6.01 |
(5.99) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.07 |
(0.10) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.89
|
0.80 |
1.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.96
|
2.26 |
2.34 |
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) Constitutions 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 |
Yes |
|
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 |
SUNDRY
CREDITORS DETAILS
Rs.
In Millions
|
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
a) Dues to Micro, Small and Medium Enterprise units |
0.854
|
1.368 |
0.000
|
|
|
b) Dues to Other |
214.111
|
143.173 |
64.831
|
|
|
Total |
214.965
|
144.541 |
64.831 |
Note:
The registered office of the company has been shifted from Admn Bilding, Morarjee Mills, Dr Ambedkar Road, Parel, Mumbai – 400012, Maharashtra, India to 106 Peninsula Centre, Dr S S Rao Road Parel,
Mumbai -400012, Maharashtra, India w.e.f. 01.06.2006
The registered office of the company has been again shifted
from 106 Peninsula Centre, Dr S S Rao Road Parel, Mumbai
-400012, Maharashtra, India to present address w.e.f. 31.01.2007
OPERATIONS:
During the financial year, the total income
increased from Rs.1494.867 Millions to Rs.1897.395 Millions. The year ended at
a profit of Rs.86.804 Millions as against the profit of Rs.44.583 Millions in
the previous years
FUTURE OUTLOOK:
The auto industry has grown in the year 2010-11.
As per SIAM projection Auto Industry (passenger car) was to grow at 16-18% per
annum, however, due to global slowdown and also the general negative sentive
due to hike in rate and petrol prices
the projections have been revised
to 2-4% in the second half of F-12. To cater to the new market segment their R
and D is developing low cost alternator which is a future product
Their Wiper plant at satara has started
commercial production of wiper systems and started supplying to Maruti Suzuki.
They have also developed wiper systems for Daimler LDT (Low duty truck) and
sample has been approved. Regular business is expected to start in calendar
year 2012.
Further, they
have consolidated their European Subsidiaries (PMP Bakony and PMP PAL)
in one location, i.e. at Prague for
increasing the operating effcine cy and also for meeting the customer
needs.
As regards the cutting tools business the
outlook is positive, with good demand generated in domestic market due to
overall growth in the economy. Export demand is also increasing, despite global
recession. The company has renews its focus on high potential products viz
Bi-Metal Bandsawa and Drills, with expansion Plans. The company is intending to
have a R and D set up to cater to the mark et needs and for development of the
new products / applications
CONTINGENT LIABILITIES (AS ON 31.03.2011)
(a) Outstanding letter of credit as on 31st March 2011 is
Rs,125.510 Millions (Rs.70.869 Millions)
(b) Three employee have filed cases, in Labour Court against the company for
wrongful termination of employment at the Ankleshwar plant, wherein the amount involved is Rs.1.637 Millions
(Rs.1.170 Millions) However, management
estimates that outflow with regard to such cases are not probable and
therefore, no provision is made for such court cases.
(c) With regard to court cases made against the company by 4 employees for
wrongful termination of employment at Kandivli Plant, the estimated liability
amount to Rs.4.564 millions as at 31st march 11. However, management
estimated that outflow with regard to such cases are not probable and
therefore, no provision are made for such court cases.
(d) W.r.t. tools Division, the excise duty demand under Excise Audit is
Rs.0.242 Million
(e) W.r.t Tools Division, there is Service Tax Demand of Rs.0.764 Million for
wrong availmentof service tax. However, management estimates that outflow with
regard to such cases are not probable and therefore, no provisions are made for
such court cases.
(f) Corporate Guarantee of Euro 96336 (Rs.5.973 Millions) issued to Nortpoint
DCO2, s.r.o., Czech Republic on behalf of stop down subsidiary, PMP PAL
International s.r.o. for a period of 67 months form 1st july,
2010
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U34300MH1996PTC099236 |
|
Name of the
company |
PMP Auto
Components Private Limited |
|
Address of the
registered office or of the principal place of business in |
Peninsula Spenta,
Mathuradas Mills Compound, Senapati Bapat Marg, Lower Parel Mumbai – 400013 |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10242635 |
|
Type of charge |
· Book debts · Movable property (not being pledge) · Floating charge |
|
Particular of
charge holder |
The Saraswat Co-op Bank Limited, Lower Parel Branch, Orbit Eternia, N M Joshi Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
29.03.2012 |
|
Amount secured by
the charge |
Rs.250.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest PLR-1% p.a=
13.50% or at such rates as may be prescribed in future by the bank from time
to time. Terms of Repayment On demand. Margin Cash Credit- 30%
in Bank's Favour Extent and Operation of the charge Cash Credit :
Rs.200.000 Millions Bank Guarantee :
Rs.50.000 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First Pari passu
hypothecation charge along with IDBI Bank on entire current assets including
stock and Book Debts, Present and Future Second pari passu charge by way of
hypothecation of all the borrower's movables (save and exceptstocks and
bookdebts) including movable machinery, machinery spares, tools and other
accessories |
|
Particulars of
the present modification |
The Credit
Facility has been enhanced from Rs.100.000 Millions to Rs. 200.000 Millions. |
Fixed Assets:-
- Goodwill
- Land
- Building
- Plant and
Machinery
- Computer
- Furniture and
Fixture
- Office
Equipment
- 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.55.79 |
|
|
1 |
Rs.86.37 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
6 |
|
--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 |
|
46 |
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.