|
Report Date : |
18.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
INDO SHELL MOULD LIMITED |
|
|
|
|
Registered
Office : |
A-9 SIDCO Industrial Estate, Kurichi, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.05.1995 |
|
|
|
|
Com. Reg. No.: |
181-006101 |
|
|
|
|
Paid-up Capital
: |
Rs. 65.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310TZ1995PLC006101 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CMBI03232F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI4300C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Producing Ferrous Castings and Aluminum (Non-Ferrous) Castings |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are 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.
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 : |
A-9 SIDCO Industrial Estate, Kurichi, |
|
Tel. No.: |
91-422-3982600 |
|
Fax No.: |
91-422-2673265 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As On 06.12.2010
|
Name : |
Mr. Krishnaswamy Jagandeesan |
|
Designation : |
Managing Director |
|
Address : |
19, |
|
Date of Birth/Age : |
07.06.1939 |
|
Date of Appointment : |
03.05.1995 |
|
DIN No.: |
01758194 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U27310TZ1995PLC006101 |
INDO
SHELL MOULD LIMITED |
Managing
director |
03-05-95 |
03-05-95 |
Active |
NO |
|
2 |
U34300TZ2004PTC011346 |
INDO
SHELL AUTOMOTIVE SYSTEMS INDIA PRIVATE LIMITED |
Director |
16-09-04 |
16-09-04 |
Active |
NO |
|
Name : |
Mr. Jagadeesan Balaji |
|
Designation : |
Managing Director |
|
Address : |
19, |
|
Date of Birth/Age : |
16.04.1972 |
|
Date of Appointment : |
21.08.1998 |
|
DIN No.: |
01758199 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U27310TZ1995PLC006101 |
INDO
SHELL MOULD LIMITED |
Managing
director |
21-08-98 |
21-08-98 |
Active |
NO |
|
2 |
U72200TZ2000PTC009315 |
J
TECHNOLOGIES INDIA PRIVATE LIMITED |
Managing
director |
28-04-00 |
28-04-00 |
Active |
NO |
|
3 |
U34300TZ2004PTC011346 |
INDO
SHELL AUTOMOTIVE SYSTEMS INDIA PRIVATE LIMITED |
Director |
16-09-04 |
16-09-04 |
Active |
NO |
|
Name : |
Mr. Jagadeesan Rajesh |
|
Designation : |
Managing Director |
|
Address : |
19, |
|
Date of Birth/Age : |
03.03.1977 |
|
Date of Appointment : |
22.02.2001 |
|
DIN No.: |
01758216 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U72200TZ2000PTC009315 |
J
TECHNOLOGIES INDIA PRIVATE LIMITED |
Managing
director |
15-09-00 |
15-09-00 |
Active |
NO |
|
2 |
U27310TZ1995PLC006101 |
INDO
SHELL MOULD LIMITED |
Managing
director |
05-03-01 |
05-03-01 |
Active |
NO |
|
3 |
U34300TZ2004PTC011346 |
INDO
SHELL AUTOMOTIVE SYSTEMS INDIA PRIVATE LIMITED |
Director |
16-09-04 |
16-09-04 |
Active |
NO |
|
Name : |
Ms. Jagadeesan Parimala |
|
Designation : |
Director |
|
Address : |
19, |
|
Date of Birth/Age : |
20.08.1947 |
|
Date of Appointment : |
22.02.2001 |
|
DIN No.: |
01758217 |
|
|
|
|
Name : |
Ms. Balaji Preethika |
|
Designation : |
Director |
|
Address : |
19, |
|
Date of Birth/Age : |
29.10.1972 |
|
Date of Appointment : |
21.06.2004 |
|
DIN No.: |
01758223 |
|
|
|
|
Name : |
Mr. Rajesh Sumithra |
|
Designation : |
Director |
|
Address : |
19, |
|
Date of Birth/Age : |
25.11.1982 |
|
Date of Appointment : |
31.08.2005 |
|
DIN No.: |
01758226 |
|
Name : |
Mr. Chelakara Venkateswaran Ramanathan |
|
Designation : |
Director |
|
Address : |
32, |
|
Date of Birth/Age : |
25.01.1943 |
|
Date of Appointment : |
22.04.2006 |
|
Date of Cessation : |
15.03.2012 |
|
DIN No.: |
02329931 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U27310TZ1995PLC006101 |
INDO
SHELL MOULD LIMITED |
Director |
22-04-06 |
22-04-06 |
15-03-12 |
Active |
NO |
|
Name : |
Mr. Vipul Harendra Mankad |
|
Designation : |
Nominee Director |
|
Address : |
906, SIDBI Apartments, Veera Desai Road, Andheri (West), Mumbai –
400053, Maharashtra, India |
|
Date of Birth/Age : |
30.03.1958 |
|
Date of Appointment : |
04.06.2010 |
|
Date of Cessation : |
21.04.2011 |
|
DIN No.: |
00169984 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U72400MH1980PLC022745 |
DSS
SYSTEMS AND SOFTWARE TECHNOLOGIES LIMITED |
Nominee
director |
08-02-01 |
08-02-01 |
31-03-07 |
Active |
NO |
|
2 |
U72900MH1992PLC065539 |
KARROX
TECHNOLOGIES LIMITED |
Nominee
director |
15-03-01 |
15-03-01 |
22-02-08 |
Active |
NO |
|
3 |
U72200KA1999PLC025904 |
KMG
INFOTECH LIMITED |
Director |
04-04-06 |
04-04-06 |
05-05-11 |
Active |
NO |
|
4 |
U23201AP2003PLC040984 |
NATUROL
BIOCHEMICALS AND FOODS LIMITED |
Nominee
director |
16-08-06 |
16-08-06 |
21-04-11 |
Active |
NO |
|
5 |
U85110KA1995PTC016925 |
PRATEEK
APPARELS PRIVATE LIMITED |
Director |
30-09-07 |
30-03-07 |
05-10-09 |
Active |
NO |
|
6 |
U24100MH1981PTC025661 |
CENTAUR
CHEMICALS PRIVATE LIMITED |
Nominee
director |
01-04-08 |
01-04-08 |
- |
Amalgamated |
NO |
|
7 |
U24230MH1980PTC023291 |
CENTAUR
PHARMACEUTICALS PRIVATE LIMITED |
Nominee
director |
01-04-08 |
01-04-08 |
21-04-11 |
Active |
NO |
|
8 |
U72900DL2000PTC103737 |
TRIDENT
INFOSOL PRIVATE LIMITED. |
Nominee
director |
31-03-10 |
31-03-10 |
21-04-11 |
Active |
NO |
|
9 |
U27310TZ1995PLC006101 |
INDO
SHELL MOULD LIMITED |
Nominee
director |
04-06-10 |
04-06-10 |
21-04-11 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 06.12.2010
|
Names of Shareholders |
|
No. of Shares |
|
K Jagadeesain |
|
1406100 |
|
J Parimala |
|
1256100 |
|
K Jagadeesain and J Parimala |
|
270000 |
|
Balaji Jagadeesan |
|
1056000 |
|
Rajesh Jagadeesan |
|
1076000 |
|
Preethika Balaji |
|
34500 |
|
Sumitra Rajesh |
|
14500 |
|
|
|
1600 |
|
N Kamala |
|
4000 |
|
Esterkote Private Limited – |
|
40000 |
|
G |
|
9200 |
|
Maragatham Ganapathy |
|
9200 |
|
M K Narayanan |
|
9200 |
|
Girija Narayanan |
|
9200 |
|
M Vijayakumar |
|
9200 |
|
Radhika Vijayakumar |
|
9200 |
|
C V Ramanathan |
|
8000 |
|
Sowmya Sitaram |
|
2000 |
|
K Thilagam |
|
2000 |
|
R Mangaiarkarasi |
|
2000 |
|
M Padmini |
|
1200 |
|
Tamilselvi Angamuthu |
|
800 |
|
S B Mohamed Naziruddhin |
|
2000 |
|
Amsa Naziruddhin |
|
2000 |
|
Kedar C Bhide |
|
2000 |
|
M Mohan |
|
4000 |
|
SIDBI Trustee Company Limited – |
|
1310000 |
|
Total |
|
6550000 |
As On 30.09.2009
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Venture Capital |
20.00 |
|
Bodies corporate |
0.61 |
|
Directors or relatives of Directors |
78.18 |
|
Other top fifty shareholders |
1.21 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Producing Ferrous Castings and Aluminum (Non-Ferrous) Castings |
||||
|
|
|
||||
|
Products : |
Automobile
Industry
Hydraulic Industry
|
||||
|
|
|
PRODUCTION STATUS (As On 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Cast Iron and Aluminum Castings |
Per annum |
NA |
24000 |
15369 |
GENERAL INFORMATION
|
Customers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Shanmugha Manram, 41 Race Cource, |
|
Tel. No.: |
91-422-4392801/802/803 |
|
Fax No.: |
91-422-2223615 |
|
Pan No.: |
AACFD3771D |
|
|
|
|
Related Parties : |
CIN
No.: U72200TZ2000PTC009315 |
|
|
|
|
Subsidiaries : |
CIN
No.: U34300TZ2004PTC011346 |
CAPITAL STRUCTURE
As On 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7800000 |
Equity Shares |
Rs. 10/- each |
Rs. 78.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6550000 |
Equity Shares |
Rs. 10/- each |
Rs. 65.500
Millions |
|
|
|
|
|
Note:
Of the above 3930000 equity shares of Rs. 10/- each has been issued
as fully paid-up Bonus Shares by way of Capitalisation of Reserves]
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 |
65.500 |
65.500 |
65.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
471.833 |
421.058 |
389.557 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
537.333 |
486.558 |
455.057 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
880.169 |
810.325 |
767.378 |
|
|
2] Unsecured Loans |
0.000 |
9.144 |
9.567 |
|
|
TOTAL BORROWING |
880.169 |
819.469 |
776.945 |
|
|
DEFERRED TAX LIABILITIES |
99.741 |
103.090 |
92.426 |
|
|
|
|
|
|
|
|
TOTAL |
1517.243 |
1409.117 |
1324.428 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
722.149 |
685.213 |
667.545 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.662 |
1.662 |
1.662 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
366.510
|
296.988
|
287.016 |
|
|
Sundry Debtors |
498.215
|
352.491
|
415.875 |
|
|
Cash & Bank Balances |
88.674
|
170.988
|
196.612 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
265.172
|
277.392
|
176.089 |
|
Total
Current Assets |
1218.571
|
1097.859
|
1075.592 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
351.393
|
310.701
|
345.329 |
|
|
Other Current Liabilities |
44.362
|
50.875
|
55.650 |
|
|
Provisions |
29.384
|
14.041
|
19.392 |
|
Total
Current Liabilities |
425.139
|
375.617
|
420.371 |
|
|
Net Current Assets |
793.432
|
722.242
|
655.221 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1517.243 |
1409.117 |
1324.428 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2645.080 |
2129.764 |
2075.755 |
|
|
|
Other Income |
35.158 |
10.590 |
34.146 |
|
|
|
TOTAL (A) |
2680.238 |
2140.354 |
2109.901 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
1617.980 |
1296.583 |
3.799 |
|
|
|
Manufacturing Service Costs |
555.083 |
415.046 |
1354.889 |
|
|
|
Employee Related Expenses |
106.591 |
91.111 |
94.493 |
|
|
|
Administrative Selling Other Expenses |
142.481 |
109.643 |
450.548 |
|
|
|
TOTAL (B) |
2422.135 |
1912.383 |
1903.729 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
258.103 |
227.971 |
206.172 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
99.810 |
101.494 |
93.285 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
158.293 |
126.477 |
112.887 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
84.553 |
76.603 |
57.808 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
73.740 |
49.874 |
55.079 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
22.965 |
18.373 |
20.681 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
50.775 |
31.501 |
34.398 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
120.648 |
120.648 |
90.082 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
-- |
-- |
-- |
|
|
|
Proposed Dividend |
-- |
-- |
3.275 |
|
|
|
Corporate Dividend Tax |
-- |
-- |
0.557 |
|
|
BALANCE CARRIED
TO THE B/S |
171.423 |
152.149 |
120.648 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
326.507 |
314.277 |
364.142 |
|
|
TOTAL EARNINGS |
326.507 |
314.277 |
364.142 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
4.193 |
12.575 |
|
|
|
Stores & Spares |
NA |
0.758 |
1.501 |
|
|
|
Capital Goods |
NA |
0.661 |
1.213 |
|
|
TOTAL IMPORTS |
NA |
5.612 |
15.289 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.75 |
4.81 |
5.25 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.89
|
1.47
|
1.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.79
|
2.34
|
2.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.80
|
2.80
|
3.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.10
|
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.43
|
2.46
|
2.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.87
|
2.92
|
2.56 |
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 |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
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 (if applicable) |
No |
|
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 |
PERFORMANCE:
The industrial
scenario continued to be grim as in the previous year. The difficult power
situation continued to grip industries in Tamilnadu. At a time when similar industries
continue to reel under problems, the company could still manage the difficult
situations and perform satisfactorily. The financial results mentioned above is
an indicator of the same.
The total exports
for the year 2010-11 was Rs. 326.507 Millions as against Rs.313.977 Millions
during the previous year. It is expected that things could improve in the
coming years.
CONTINGENT
LIABILITY:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Bank Guarantee |
105.252 |
11.340 |
|
Estimated amount of contracts on capital account remaining to be
executed |
46.635 |
0.000 |
|
The company has an export obligation of
Rs.150.737 Millions (Rs.127.732 Millions). The duty implication involved is
Rs.18.842 Millions (Rs.15.966 Millions) |
||
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U27310TZ1995PLC006101 |
|
Name of the company |
INDO SHELL MOULD LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
A-9, SIDCO Industrial Estate, Kurichi, Coimbatore - 641021, Tamil
Nadu, India E-mail : indoshell@vsnl.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10136190 |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of charge holder |
Axis Bank Limited, 1095, "Vigneshwar Cresta", Pappnaickenpalalyam,
Avinashi Road, Coimbatore - 641037, Tamil Nadu, India E-mail : akshayasri23@gmail.com
|
|
Nature of instrument creating charge |
1. Composite hypothecation deed. |
|
Date of instrument Creating the charge |
26.12.2011 |
|
Amount secured by the charge |
Rs.945.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Extent and Operation of the charge The charge operates to secure the loan amount of Rs.945.000 Millions (
by way of increasing the working capital limit from Rs. 410.000 Millions
to 500.000 Millions) Hypothecation of entire current assets of the company both present and
future along with the other working capital lenders on pari passu LER limit is secured by subservient charge on the current and movable
fixed assets of the company |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Primary: First pari-passu charge on the entire current assets, both
present and future along with other working capital lenders. Collateral: Second pari passu charge on the movable fixed assets both
present and future. LER limit is secured by subservient charge on the current and movable
fixed assets of the company |
|
Date of instrument modifying the charge |
25.04.2011 |
|
Particulars of the present modification |
The overall existing loan amount of Rs.855.000 Millions is being
enhanced to Rs.945.000 Millions. The other existing terms and conditions remains the same. |
FIXED ASSETS:
AS PER WEBSITE
DETAILS
HISTORY:
·
1973- Plant I was started as a small scale unit
in the industrial town of
·
1994-Received the biggest quality award “NATIONAL
AWARD FOR QUALITY PRODUCTS” from the honorable PRESIDENT OF INDIA
·
1995-Promoted as PUBLIC LIMITED company
·
1996-Obtained the ISO 9002 Certification from
RWTUV,
·
1996-A state of the art foundry PLANT II was
Inaugurated
·
1996-Received the “Best Foundry” award
·
1999-Received the best vendor award from
TVS-Suzuki
·
2001-Received the quality award from Yamaha
Company
·
2001-Opening of PLANT III – state of the art
Machining facility
·
2002-Opening of sophisticated Metrology Lab
·
2003-Received the quality award from HUSCO
Company
·
2003- Received the quality award from Honda
Motors and Scooters Limited,
·
2003-Obtained the ISO/TS 16949:2002
Certification from TUV,
·
2003-Obtained the ISO 9001:2000 Certification.
·
2005- Received the quality award from Honda
Motors and Scooters Limited,
·
2005-Opening of state of the art foundry
“Indoshell Automotive System” (FOUNDRY/MACHINING)
·
2005- Received the quality award from Honda
Motors and Scooters Limited,
Started as a small scale unit, today we are leading
Shell Moulded Casting foundry in
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.54.39 |
|
|
1 |
Rs.86.56 |
|
Euro |
1 |
Rs.69.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
6 |
|
--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 |
|
47 |
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.