MIRA
INFORM REPORT
|
Report Date : |
27.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
BEHR INDIA LIMITED |
|
|
|
|
Registered
Office : |
Gat No.626/1/2 and 622/1/0, 29, Milestone, |
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|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.04.1997 |
|
|
|
|
Com. Reg. No.: |
11-107619 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.241.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300PN1997PLC107619 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEB01594F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB2186L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Air Conditioning Systems for
Automobiles. |
|
|
|
|
No. of Employees
: |
2000 (Approximately) |
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 2159000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a joint venture between Behr GmbH and Company KG., It 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Cicil Babu |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-20-66145500/ 5711 |
|
Date : |
22.03.2012 |
LOCATIONS
|
Registered Office / Factory 1 : |
Gat No.626/1/2 and 622/1/0, 29, Milestone, |
|
Tel. No.: |
91-2135-665000 |
|
Mobile No.: |
91-9822216433 (Mr. Sunil Kaul) |
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Fax No.: |
91-2135-665050/ 665150 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
|
|
|
|
Factory 2 : |
B-5, Chakan Industrial Area, District Khed, Pune, |
|
Location : |
Owned |
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|
Factory 3 : |
|
DIRECTORS
As on 30.07.2011
|
Name : |
Mr. Deep Chand Anand |
|
Designation : |
Director |
|
Address : |
1, Shri Aurobindo Marg, |
|
Date of Birth/ Age : |
26.08.1933 |
|
Date of Appointment : |
13.05.1997 |
|
DIN No.: |
00090123 |
|
|
|
|
Name : |
Mr. Sunil Prem Nath Kaul |
|
Designation : |
Managing Director |
|
Address : |
House No.8, Atul Excellency, SR No.207, 2 Kaspatye Vasti,
Wakad, Pune – 411 027, |
|
Date of Birth/ Age : |
13.08.1959 |
|
Qualification : |
B.E.(Mechanical), AMIE (Electrical) |
|
Experience : |
21 Years |
|
Date of Appointment : |
15.12.2009 |
|
DIN No.: |
00110549 |
|
|
|
|
Name : |
Mr. Dirk Wolfgang Heers
|
|
Designation : |
Director |
|
Address : |
C/6, No.38, URB Santa Maria, DE LA Vall E – 08757, Corber
A De, Llobre, Gat Es Paria, Spain – 08757 |
|
Date of Birth/ Age : |
29.07.1962 |
|
Date of Appointment : |
22.12.2004 |
|
DIN No.: |
01027925 |
|
|
|
|
Name : |
Mr. Pravesh Kumar Srivastava |
|
Designation : |
Director |
|
Address : |
PL 40/41 Pratham Society, 210/3, Wakad Telephone Exchange, Pune – 411
027, |
|
Date of Birth/ Age : |
04.02.1955 |
|
Date of Appointment : |
01.01.2006 |
|
Din No.: |
02217308 |
|
|
|
|
Name : |
Colin Leslie Carter |
|
Designation : |
Director |
|
Address : |
IM, Dorn 12, Beilstein-71717, |
|
Date of Birth/ Age : |
19.11.1955 |
|
Date of Appointment : |
17.12.2008 |
|
DIN No.: |
02820523 |
|
|
|
|
Name : |
Mr. Deepak Ramnath Chopra |
|
Designation : |
Director |
|
Address : |
H.No.7 and 8, Anfilco Housing Colony, Anand Farm Palam Gurgaon Road,
Dundhahera, Gurgaon – 122 016, Haryana, India |
|
Date of Birth/ Age : |
25.12.1954 |
|
Date of Appointment : |
27.03.2009 |
|
DIN No.: |
00028770 |
KEY EXECUTIVES
|
Name : |
Ms. Pragya Suresh Jain |
|
Designation : |
Secretary |
|
Address : |
C/O Satish Sandbhor Anand Bunglow, Krushi Society, Gokhale
Nagar, Pune, Pune - 411 016, |
|
Date of Birth/Age : |
12.09.1986 |
|
Date of Appointment : |
03.06.2011 |
|
PAN No.: |
AJSPJ6333L |
|
|
|
|
Name : |
Mr. Cicil Babu |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.07.2011
|
Names of Shareholders |
No. of Shares |
|
Behr Holding International |
14460000 |
|
Asia Investments Private Limited, |
9639995 |
|
Deepak R. Chopra (Jointly with K.K. Jaggi) |
1 |
|
K.K. Jaggi (Jointly with Deepak Chopra) |
1 |
|
Pravesh Kumar Srivastava (Jointly with K.K. Jaggi) |
1 |
|
Mahendra Daulatram Goyal (Jointly with K.K. Jaggi) |
1 |
|
Ramni VN Sood (Jointly with K.K. Jaggi) |
1 |
|
Total |
24100000 |
As on 30.07.2011
|
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] |
|
60.00 |
|
Bodies
corporate |
|
40.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Air Conditioning Systems for
Automobiles. |
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Products : |
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Exports : |
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Products : |
Air Conditioning Systems |
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Countries : |
v
US v
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Automotive air conditioning systems, its parts and components |
Nos. |
580000 |
192382 |
|
Radiators, comprising of radiator assemblies and fan shroud assembly |
Nos. |
400000 |
144376 |
|
Compressor assembly and its components and parts thereof |
Nos. |
285000 |
135966 |
|
Visco |
Nos. |
288000 |
113108 |
|
Ventilation Units |
Nos. |
15000 |
1807 |
|
Heat exchanger |
Nos. |
550000 |
309085 |
Notes:
(i) In terms of Notification
No. 477(E) dated July 25, 1991, issued by the Ministry of Industry, Department
of Industrial Development, the Company’s products have been exempted from
industrial licensing. Accordingly, disclosure requirements concerning licensed
capacity are not applicable.
(ii) The installed
capacity is as certified by the management and relied on by the auditors, this
being a technical matter.
(iii) The
production shown against manufactured components is the quantity of such
components transferred to the warehouse for sale.
(iv) Production for captive consumption is
Rs.295.309 millions.
GENERAL INFORMATION
|
Customers : |
Retailers |
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No. of Employees : |
2000 (Approximately) |
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Bankers : |
v
ING Vysya
Bank Limited, P.B.No.4038,Chanakya Building, Near Dinesh Hall, Off Ashram
Road, Ahmedabad – 380 009, Gujarat, India v
Bank
of v
HDFC
bank Limited (Pimpari Branch) v
Kotak
Mahindra Bank (Pune Branch) v
Deutsche
Bank, Pune, |
||||||||||||||||||||||||
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Facilities : |
Footnotes (A) The Term Loan
is secured by hypothecation of all stocks of raw material, Work in Process,
Finished Goods, Packing Material, Stores and spares, book debts, present and future
and all movable plant and machinery and furniture and fixture of the Company.
The said facilities are further secured by pledge of Fixed Deposit Receipts
of Rs.32.628 Millions (Previous Year Rs.9.349 Millions) (B) The Cash
Credit Facilities (including bill discounting) is secured by hypothecation of
all stocks of raw material, Work in Process, Finished Goods, Packing
Material, Stores and spares, book debts, present and future and all movable
plant and machinery and furniture and fixture of the Company. The said
facilities are further secured by pledge of Fixed Deposit Receipts of
Rs.32.628 Millions (Previous Year Rs.9.349 Millions)
Footnotes (A) - Bill
Discounting with Bank. 116.963 Millions (45.960 Millions) (Amount repayable within
one year Rs.116.963 Millions, Previous Year Rs.45.960 Millions) – (B) - External
Commercial Borrowing (Amount repayable within one year Rs.101.968 Millions,
Previous Year Rs.97.824 Millions) |
|
|
|
|
Banking
Relations : |
-- |
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|
|
|
Financial Institution : |
Volkswsagen |
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|
|
|
Auditors : |
|
|
Name 1 : |
S.V. Ghatalia and Associates Chartered Accountants |
|
Address : |
C-401, 4th Floor, |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFS6921Q |
|
|
|
|
Name 2 : |
S.R. Batliboi and Associates Chartered Accountants |
|
|
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Ultimate Holding
Company: |
Behr GmbH and Company KG, |
|
|
|
|
Holding Company
: |
Behr Holding International |
|
|
|
|
Fellow Subsidiaries
: |
v
Behr America Inc, v
Behr Brasil Ltda, v
Behr Climate Systems Inc, v
Behr Czech S.R.O., v
Behr Dayton Thermal Products v
Behr v
Behr v
Behr Heat transfer Inc, v
Behr Hella Thermo Control GmbH, v
Behr HellaThermo Control India Private Limited, v
Behr Industry v
Behr Industry v
Behr v
Behr Kirchberg v
Behr Korea Inc, v
Behr v
Behr Ostrava S.R.O., v
Behr Service v
Behr South Africa (Pty) Limited, v
Behr-Toyo Engine Cooling System K.K., v
Dongfeng Behr Thermal System, v
Frape Behr S.A.R.L. Spain v
Mahle Behr Industry GmbH and Company, v
Mahle Behr Industry v
Sanden ( v
Shanghai Behr Thermal System Company Limited, v
v
Behr Industrietechnik GmbH and Company, |
|
|
|
|
Associates : |
v
Anand Automotive Systems Limited, v
Victor Gaskets India Private Limited, v
Gabriel India Limited, |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24100000 |
Equity Shares |
Rs.10/- each |
Rs.241.000 millions |
|
1000000 |
Preferences Shares |
Rs.100/- each |
Rs.100.000 millions |
|
|
Total
|
|
Rs.341.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24100000 |
Equity Shares |
Rs.10/- each |
Rs.241.000
millions |
|
|
|
|
|
Note:
Of the above Equity Shares of Rs.10 each, 14,460,000 shares
are held by the holding company, Behr Holding International GmbH,
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 |
241.000 |
241.000 |
241.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
298.744 |
193.817 |
90.538 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
539.744 |
434.817 |
331.538 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
436.416 |
395.933 |
352.962 |
|
|
2] Unsecured Loans |
356.792 |
302.244 |
414.230 |
|
|
TOTAL BORROWING |
793.208 |
698.177 |
767.192 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
Other Liabilities (Deferred Income) |
54.592 |
51.159 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1387.544 |
1184.153 |
1098.730 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1052.881 |
860.462 |
854.843 |
|
|
Capital work-in-progress (including capital advances) |
156.770 |
258.017 |
261.091 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
1.089 |
13.845 |
33.804 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
666.093
|
391.345
|
342.893 |
|
|
Sundry Debtors |
961.399
|
551.528
|
372.153 |
|
|
Cash & Bank Balances |
125.727
|
115.406
|
49.073 |
|
|
Other Current Assets |
60.095
|
82.904
|
134.833 |
|
|
Loans & Advances |
343.496
|
316.720
|
177.800 |
|
Total
Current Assets |
2156.810
|
1457.903
|
1076.752 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1673.331 |
1215.509 |
892.365 |
|
|
Other Current Liabilities |
207.292
|
154.866
|
207.486 |
|
|
Provisions |
99.383
|
35.699
|
27.909 |
|
Total
Current Liabilities |
1980.006
|
1406.074
|
1127.760 |
|
|
Net Current Assets |
176.804
|
51.829
|
(51.008) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1387.544 |
1184.153 |
1098.730 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating Revenue (Net) |
5051.624 |
3331.381 |
2677.748 |
|
|
|
Other Income |
12.390 |
88.879 |
58.115 |
|
|
|
TOTAL (A) |
5064.014 |
3420.260 |
2735.863 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
3628.068 |
2353.199 |
|
|
|
|
Manufacturing service costs |
320.068 |
244.752 |
|
|
|
|
Contract cost |
18.129 |
12.524 |
|
|
|
|
Employee related expenses |
313.767 |
238.072 |
|
|
|
|
Administrative selling other expenses |
215.285 |
163.931 |
|
|
|
|
Research development expenditure |
14.240 |
9.248 |
|
|
|
|
TOTAL (B) |
4509.557 |
3021.726 |
2687.621 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
554.457 |
398.534 |
48.242 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL EXPENSES (D) |
87.094 |
73.337 |
75.535 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
467.363 |
325.197 |
(27.293) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
216.690 |
183.027 |
169.402 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
250.673 |
142.170 |
(196.695) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
89.727 |
38.891 |
(46.124) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
160.946 |
103.279 |
(150.571) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
150.367 |
47.088 |
197.659 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend on Equity Shares |
48.200 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
7.820 |
0.000 |
0.000 |
|
|
|
Transfer to General Reserve |
12.070 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
243.223 |
150.367 |
47.088 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
802.900 |
661.610 |
772.830 |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
NA |
1029.490 |
997.192 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(loss) Per Share (Rs.) |
6.68 |
4.29 |
(6.25) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.18 |
3.02 |
(5.50) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.95 |
4.27 |
(7.35) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.81 |
6.15 |
(10.18) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46 |
0.32 |
(0.59) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.14 |
4.82 |
5.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
1.04 |
0.95 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
- Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
- Creditors due others |
1673.331 |
1215.509 |
892.365 |
|
Total |
1673.331 |
1215.509 |
892.365 |
|
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 |
Yes |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
background |
-- |
|
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 |
No |
|
12) Profitability
for last three years |
No |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation for
coming financial year |
No |
|
15) Capital in
the business |
No |
|
16) Details of
sister concerns |
No |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
Yes |
|
20) Export /
Import details (if applicable) |
Yes |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility details |
No |
|
25) Conduct of
the banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
No |
|
28) Incorporation
details, if applicable |
-- |
|
29) Last accounts
filed at ROC |
-- |
|
30) Major
Shareholders, if available |
-- |
NATURE OF OPERATIONS:
The Company is primarily
engaged in the manufacture and selling of automotive air-conditioning systems,
parts and components thereof, heat exchanger and ventilation units, engine
cooling parts and components thereof for passenger and commercial vehicles. The
Company is further engaged in trading in automotive parts and components,
mainly to related parties. The Company also has an Engineering Services
Division, which is involved in providing product design services to related
parties.
PERFORMANCE:
The Company registered significant growth in sales during the year at Rs.5051.620 Millions. During the year Company recorded a growth of 51.6% over the previous year’s sales of Rs.3331.380 Millions.
Increased sales and keeping cost under control, during the year helped the Company in registering Profit before Tax of Rs.250.670 Millions as against profit before tax of Rs.142.170 Millions in previous year. After making provision for tax of Rs.89.730 Millions, including deferred tax of Rs.12.760 as per Accounting Standard 22, the Company’s Profit after Tax stood at Rs.160.940 Millions, compared with Profit after Tax Rs.103.290 Millions in the previous year.
OPERATIONS
Existing Business:
The production of automotive air-conditioning systems, its
components and parts thereof was higher at 328,460 numbers during the year
against 192,382 numbers in the previous year.
Exports:
The overall
exports (both Traded and Manufactured) significantly increased at Rs.802.900 Millions
against Rs.661.620 Millions in previous year. However, export earnings from
Engineering Services have shown magnificent growth of 24.70% over previous
year. Earning from Engineering Services registered sales at Rs.262.730 Millions
against Rs.210.690 Millions in previous year. This growth is mainly due to
growth in engineering services and trading exports.
NEW BUSINESS:
Air Conditioning Business:
The Company
started supplying HVAC system for Volkswagen in June, 2010 and started
supplying Rear Blowers to Nissan from October 2010. Company has been nominated
for supply of condenser for VW PQ 24 during the year.
Engine Cooling:
The Company is the
sole supplier of cooling modules to Nissan for the program XO2A and
LO2B.Company started supplying cooling modules for multiple variants namely
XH5,
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2011 (Rs. in
millions) |
|
(i) Claims against the Company not acknowledged as debts* |
18.024 |
|
(ii) Bills discounted with Company’s Bankers against their Bills
Rediscounting Scheme and still remaining outstanding |
3.058 |
|
(iii) Disputed demand under the Central Excise Act(**, #) |
16.963 |
|
(iv) Show Cause / Demand Notices received from Excise Authorities
(***, #) |
32.718 |
Notes:
* Claims against the
Company not acknowledged as debts pertain to debits from group companies which
are disputed.
** The Central
Excise department has raised demands for excise duty on transfer of goods from
EOU to DTA and vice-versa and service tax on services rendered by foreign group
companies.
*** Represents
various show cause notices / Demand notices received by the Company from the
Central Excise department on various matters related to duty on sales tax
incentive schemes, service tax credits and other miscellaneous matters. The
Company has filled replies for all the notices.
Based on
discussions with the solicitors / favourable decisions in similar cases/legal
opinions taken by the Company, the management believes that the Company has a
good chance of success in above-mentioned cases and hence, no provision there
against is considered necessary.
# The amounts refers to the original amount of demand / show cause
notice.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U34300PN1997PLC107619 |
|
Name of the
company |
BEHR INDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gat No.626/1/2 and 622/1/0, 29, Milestone, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90084946 |
|
Type of charge |
Immovable
Property Any interest in
immovable property |
|
Particular of charge
holder |
Bank of Baroda (CFS Branch), Corporation Financial Services Branch,
Mantri Court, 39, Ambedkar Road, Pune-411001, Maharashtra, India Email ID: bob3939@gmail.com |
|
Nature of instrument
creating charge |
Memorandum of
entry |
|
Date of
instrument Creating the charge |
26.04.2010 |
|
Amount secured by
the charge |
Rs.655.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest This is equitable
mortgage. Terms of
Repayment This is equitable
mortgage. Margin This is equitable
mortgage. Credit Exposure (For Forward contract limit): 5% i.e. Rs.60.000
millions by way of extension of mortgage charge on fixed assets of the
company. all other terms and conditions remains same Extent and
Operation of the charge Additional Credit
Exposure (For Forward contract limit) of Rs. 60.000 millions provided.
Following are the revised facilities Term Loan
:125.000 Millions (continuation) Cash Credit
:350.000 Millions (continuation) inland/ import
Letter of credit:100.000 Millions (continuation) Bank Guarantee
inland and foreign :20.000 Millions (continuation) Credit Exposure
Limit : 60.000 millions (New) TOTAL: 655.000 Millions. Charge operates
as a security for enhanced limits. immoveable property is provided as
security for enhanced limits |
|
Short particular
of the property or asset(s) charged |
An unascertained
area of NA land admeasuring 0 hectors 51.79ares=5179.1 sq. mtrs. carved out
of all that piece and parcel of land bearing – Gat no. 626/1 admeasuring 6
hectors 91 ares Village Kururli Taluka
Khed District Pune, Total Area of Gat
no.626/2 admeasuring 2 hectors 63 ares=26304.36 sq mtrs non agricultural All making
together a total area of 3 hectares 14.79 ares =31483.46 sq mtrs non
agricultural land together with a perpetual right to use of an unascertained
area of NA land admeasuring 0 hectares 01.214 ares=121.405 sq. mtrs. out of
ascertained ares of NA land admeasuring 2 hectares 65ares carved out of all
that piece and parcel of land bearing Gat no.622/1/0 totally admeasuring 5
hectares 11 Ares of Village Kururli Taluka Khed District Pune, Maharashtra,
India Land admeasuring
0 hectares 68.80 ares= 6880.41 sq. mtrs. Sufficient enough to carve out and
lay a 15mtrs. wide tar approach road with fencing /wall o both sides thereof
for the purpose approach passing through Gat no. 626/1of Village Kururli
Taluka Khed District Pune,
Maharashtra, India together with buildings / structures standing thereon or
to be constructed thereon and also as stated in the agreement. |
FIXED
ASSETS
Tangible Assets
v
Land (Free Hold)
v
Building
v
Plant and Machinery
v
Moulds
v
Furniture and Fittings
v
Motor Vehicles
v
Computer/ Hardware
v
Office and Other Equipments
Intangible Assets
v
Software
v
Product Development
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.51.31 |
|
|
1 |
Rs.81.37 |
|
Euro |
1 |
Rs.67.97 |
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.