MIRA
INFORM REPORT
|
Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
BIRLA PRECISION TECHNOLOGIES LIMITED (w.e.f 04.01.2008) |
|
|
|
|
Formerly Known
As : |
BIRLA KENNAMETAL LIMITED |
|
|
|
|
Registered
Office : |
B-15/4, MIDC Industrial Area, Waluj, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.10.1986 |
|
|
|
|
Com. Reg. No.: |
11-041214 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.64.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29220MH1986PLC041214 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKB01779B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB2046A |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter of Industrial
Engineering Goods, Machine Tools. |
|
|
|
|
No. of Employees
: |
Not Available |
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 3000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track records.
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 dealing 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 : |
B-15/4, MIDC Industrial Area, Waluj, |
|
Tel. No.: |
91-240-2554300/2554301/2554945 |
|
Fax No.: |
91-240-2554302 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1: |
Tool Holder
Division: B- 15/4, M.I.D.C., Waluj,
|
|
|
|
|
Factory 2: |
Tool Division: B-l5/3/l,M.I.D.C.,Waluj, 62/63, M.I.D.C., Satpur, Nashik -
422007, |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Yashovardhan Birla |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. M.S. Arora |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. PVR. Murthy |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Shailesh Sheth |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. M.S. Adige |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Augustine Kurias |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Lovelina Cecil Faroz |
|
Designation : |
Company
Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2012
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
80,749 |
0.25 |
|
|
17,293,844 |
54.00 |
|
|
- |
- |
|
|
17,374,593 |
54.25 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
17,374,593 |
54.25 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
1,222 |
- |
|
|
56,741 |
0.18 |
|
|
57,963 |
0.18 |
|
|
|
|
|
|
6,794,030 |
21.21 |
|
|
|
|
|
|
4,980,157 |
15.55 |
|
|
2,707,005 |
8.45 |
|
|
114,248 |
0.36 |
|
|
857 |
- |
|
|
109,822 |
0.34 |
|
|
3,569 |
0.01 |
|
|
14,595,440 |
45.57 |
|
Total Public shareholding (B) |
14,653,403 |
45.75 |
|
Total (A)+(B) |
32,027,996 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
32,027,996 |
- |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter of Industrial
Engineering Goods, Machine Tools. |
||||||||
|
|
|
||||||||
|
Product: |
|
PRODUCTION STATUS As on 31.03.2011
|
Particulars |
Installed
Capacity |
|
Drills |
19067000 |
|
Reamers |
175600 |
|
Taps |
580000 |
|
Cutters |
126400 |
|
Tool Bits |
422300 |
|
Machine Tool Accessories |
477600 |
|
Precision Components |
200000 |
|
|
|
|
Total |
21048900 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
ICICI
Bank ·
Bank
of |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs. in Millions)
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountant |
|
Address : |
714-715, Tulsiani
Chambers, 212, Nariman Point, Mumbai - 400 021, |
|
|
|
|
Enterprises owned or
significantly influenced by Key Management personnel or their relatives: |
·
Ashok
Birla Apollo Hospital Private Limited ·
Asian
Distributors Private Limited ·
Birla
AccuCast Limited ·
Birla
Bombay Private Limited. ·
Birla
Capital & Financial Services Limited ·
Birla
Edutech Limited ·
Birla
Electricals Limited ·
Birla
Energy Infra Limited ·
Birla
Global Corporate Private Limited ·
Birla
Infrastructure Limited ·
Birla
Pacific Medspa Limited ·
Birla
Power Solutions Limited ·
Birla
Research and Lifesciences Limited ·
Birla
Shloka Edutech Limited ·
Birla
Surya Limited ·
Birla
Transasia Carpets Limited ·
Birla
Urja Limited ·
Birla
Viking Travels Private Limited ·
Birla
Wellness and Healthcare Private Limited ·
Godavari
Corporation Private Limited ·
Birla Integrated Textile Park Limited ·
Birla International Private
Limited ·
Birla Kerala Vaidyashala Private Limited ·
Birla Lifestyle Private Limited ·
Birla Machining and Tooling Limited ·
Melstar Information Technologies Limited ·
Nirved Traders Private
Limited ·
Shearson Investments and Trading Company Private Limited ·
Zenith Birla ( ·
Birla Industries Group Charity Trust |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs.2/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32027996 |
Equity Shares |
Rs.2/- each |
Rs.64.100
Millions |
|
|
|
|
|
Note:
1,60,27,996
Equity Shares issued and allotted to the Share Holders of Zenith Birla (
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 |
64.100 |
64.100 |
32.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
701.700 |
635.800 |
170.721 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
765.800 |
699.900 |
202.721 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
239.600 |
248.100 |
132.123 |
|
|
2] Unsecured Loans |
48.000 |
54.900 |
43.179 |
|
|
TOTAL BORROWING |
287.600 |
303.000 |
175.302 |
|
|
DEFERRED TAX LIABILITIES |
19.300 |
2.900 |
15.671 |
|
|
|
|
|
|
|
|
TOTAL |
1072.700 |
1005.800 |
393.694 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
378.400 |
429.700 |
213.500 |
|
|
Capital work-in-progress |
47.300 |
37.400 |
82.762 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
358.700
|
282.900 |
25.132 |
|
|
Sundry Debtors |
346.600
|
280.900 |
107.201 |
|
|
Cash & Bank Balances |
146.000
|
122.400 |
7.452 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
130.100
|
107.200 |
52.037 |
|
Total
Current Assets |
981.400
|
793.400 |
191.822 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
82.900
|
129.200 |
62.333 |
|
|
Other Current Liabilities |
143.200
|
69.400 |
9.576 |
|
|
Provisions |
108.300
|
56.100 |
22.481 |
|
Total
Current Liabilities |
334.400
|
254.700 |
94.390 |
|
|
Net Current Assets |
647.000
|
538.700 |
97.432 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1072.700 |
1005.800 |
393.694 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1068.400 |
791.300 |
271.400 |
|
|
|
Other Income |
22.100 |
12.300 |
2.037 |
|
|
|
TOTAL (A) |
1090.500 |
803.600 |
273.437 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
(Increase)/Decrease in
Stock |
7.800 |
0.200 |
(1.602) |
|
|
|
Raw Materials Consumed |
311.700 |
289.300 |
68.031 |
|
|
|
Components Consumed |
18.400 |
11.200 |
22.264 |
|
|
|
Purchase of Finished Goods
for Trade |
20.900 |
6.200 |
0.000 |
|
|
|
Manufacturing Expenses |
183.700 |
131.100 |
58.807 |
|
|
|
Employees' Remuneration
and Benefits |
213.400 |
187.300 |
43.314 |
|
|
|
Administrative, Selling
and Other Expenses |
93.500 |
84.000 |
36.163 |
|
|
|
TOTAL (B) |
849.400 |
709.300 |
226.977 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
241.100 |
94.300 |
46.460 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
31.500 |
24.200 |
8.647 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
209.600 |
70.100 |
37.813 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
57.400 |
55.000 |
28.369 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
152.200 |
15.100 |
9.444 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
86.300 |
5.500 |
3.806 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
65.900 |
9.600 |
5.638 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ADJUSTMENT |
0.000 |
0.000 |
0.027 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
354.000 |
127.000 |
124.194 |
|
|
|
|
|
|
|
|
|
Add |
NET SURPLUS FOR THE YEAR
ENDED 31ST MARCH 2010 TRANSFERRED FROM ZENITH BIRLA ( |
0.000 |
42.600 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
NET
SURPLUS AS PER SCHEME OF ARRANGEMENT OF TOOL DIVISION OF ZENITH BIRLA ( |
0.000 |
174.800 |
0.000 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
Transfer to General
Reserve |
0.000 |
0.000 |
0.942 |
|
|
|
Dividend |
0.000 |
0.000 |
1.600 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
0.272 |
|
|
|
BALANCE CARRIED
TO THE B/S |
419.900 |
354.000 |
126.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of export manufacturing goods |
222.400 |
145.000 |
232.603 |
|
|
TOTAL EARNINGS |
222.400 |
145.000 |
232.603 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
8.200 |
117.200 |
2.573 |
|
|
|
Stores & Spares |
5.700 |
4.200 |
6.060 |
|
|
|
Capital Goods |
0.000 |
31.100 |
87.858 |
|
|
TOTAL IMPORTS |
13.900 |
152.500 |
96.491 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.06 |
0.30 |
0.35 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 1st Quarter |
30.09.2011 2nd Quarter |
31.12.2011 3rd Quarter |
|
Type |
UnAudited |
UnAudited |
UnAudited |
|
Net Sales |
276.440 |
286.950 |
322.400 |
|
Total Expenditure |
220.290 |
226.370 |
257.410 |
|
PBIDT (Excl OI) |
56.150 |
60.58 |
64.990 |
|
Other Income |
2.520 |
4.020 |
7.970 |
|
Operating Profit |
58.670 |
64.600 |
72.960 |
|
Interest |
10.150 |
12.830 |
11.520 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
48.520 |
51.770 |
61.440 |
|
Depreciation |
14.120 |
14.480 |
16.010 |
|
Profit Before Tax |
34.400 |
37.190 |
45.430 |
|
Tax |
11.060 |
16.500 |
14.530 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
23.340 |
20.690 |
30.900 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
23.3400 |
20.690 |
30.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.04
|
1.19 |
2.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.25
|
1.90 |
3.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.51
|
1.90 |
4.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.02 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.44
|
0.36 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.93
|
3.12 |
2.03 |
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 |
No |
|
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 |
No |
PERFORMANCE REVIEW
The Sales and Other Income of
the Company for the financial year 2010-11 stood at Rs.1090.500 Millions as
against last year's Rs.803.600 Millions. The Profit before tax is increased to
Rs.152.200 Millions as against Rs.15.100 Millions of last year. Profit after
tax stood at Rs.65.900 Millions as against Rs.9.600 Millions of last year.
CONTINGENT LIABILITIES NOT
PROVIDED FOR IN RESPECT OF:
|
PARTICULARS |
31.03.2011 |
|
|
|
|
Export obligation for the
amount of duty saved under EPCG Scheme - DTA Unit |
44.100 |
|
Export obligation for the
amount of duty saved under EPCG Scheme - EOU Unit (subsumed) |
15.300 |
|
Disputed Sales Tax and
Entry Tax Demands |
10.200 |
|
Claim on account of PF
not acknowledged as debts |
0.400 |
|
Bank Guarantee / Letter
of Credit |
8.900 |
|
Claim against company not
acknowledged as debts |
1.200 |
MANAGEMENT DISCUSSION &
ANALYSIS REPORT
GLOBAL ECONOMY
During the year
international economic conditions exhibited a marked improvement with the global
economy getting into an early recovery mode. . The recovery in aggregate demand
has been more stable than that of industrial production. GDP for the 50
high-income and developing countries for which quarterly data are available
indicates that aggregate demand continued to expand during the last half of
2010 and into the first quarter of 2011 — albeit at a slower and more
sustainable pace than earlier. Inflation continued to remain a major concern
for the policy makers. But the recent downgrading of US rating and the fears of
extremely high national debt in the other European Countries makes the Western
outlook cautious. But Indian economy being mostly domestic-growth driven is not
likely to be affected much. In fact if the material prices drop because of
negative western growth it could be beneficial for
INDIAN ECONOMY
The overall growth of Gross
Domestic Product (GDP) at factor cost at constant prices, as per Advance
Estimates was 8.5 per cent in 2010-11, representing an increase from the
revised growth of 8 per cent during 2009-10.
INDUSTRY STRUCTURE &
OPPORTUNITIES
The Company is engaged in
the business of manufacturing of wide range of precision cutting tools like masonry
drills , TSTD , Taps , Tool bits , Cutters Reamers, AT3 Class tool holders, HSK
tooling, Expanding Mandrels and Sleeves besides advanced products like hydro
grip and shrink fit CNC tooling. These products are mainly used by automobile
and engineering sectors. Tool Holders is an essential accessory for CNC
machining centers.
The future of Cutting Tools
and Tool Holder industry largely depends on the growth of commercial automobile
and general engineering sector. As
SEGMENT WISE OR PRODUCT WISE
PERFORMANCE
The Company has identified
two business segments in line with accounting segments on segment reporting.
These are Tool Holder and Cutting Tools. The segment wise performance in detail
is given in the notes to the accounts.
INTERNAL CONTROL SYSTEMS
AND THEIR ADEQUACY
The Company has placed
considerable emphasis and efforts on internal control systems. The internal
control system ensures optimum use of the resources and its protection. The
Company has an internal audit system, which carries out independent periodic
reviews. The prime objective of such audit is to evaluate the functioning and
quality of internal controls and provide assurance of its adequacy and
effectiveness. The scope of internal audit covers a wide variety of operational
and financial matters and includes a follow-up review of corrective actions
agreed for implementation.
The adequacy of the internal
control system as well as the internal audit report is reviewed by the audit
committee of the Board of Directors. The adequacy of the internal control
system has also been reported by the statutory auditors of the Company in their
report as required under the Manufacturing & Other Companies (Auditors
Report) Order, 2003.
MATERIAL DEVELOPMENT IN
HUMAN RESOURCES
The Company continues to
lay emphasis on qualitative growth of its human resources by providing
congenial and constructive work environment, in consonance with its strong
belief that the real strength of its organization lies in its employees. In
addition to this, formal training is also conducted from time to time in
acquiring domain knowledge and imbibing the corporate quality culture.
None of the Senior
Management Personnel have any material financial and commercial transaction
where they have personal interest that may have potential conflict with the
interest of the Company at large.
FINANCIAL HIGHLIGHTS
The Sales and Other Income
of the Company for the financial year 2010-2011 stood at Rs.1090.500 Millions
as against Rs.803.600 Millions of last year. Profit after tax stood at
Rs.65.900 Millions as against Rs 9.600 Millions of last year.
Cautionary Statement
Statements
in this report on Management's Discussion and Analysis describing the Company's
objectives, expectations or predictions may be forward looking statements
within the meaning of applicable security laws or regulations. These statements
are based on certain assumptions and expectations of future events. However
actual results may differ materially from those expressed or implied. The
Company assumes no responsibility in respect of forward looking statements
herein which may undergo changes in future on the basis of subsequent
developments, information or events.
AS PER WEBSITE DETAILS
Company Profile
Subject the erstwhile Birla Kennametal Limited was
established in 1986, as a joint venture company between YBG and Kennametal Inc, USA In July 2007.
YBG acquired the stake of Kennametal in the JV consequent upon which Birla
Kennametal was renamed as Subject. BPT continues to be a primary vendor of
Kennametal worldwide –
Leveraging its core competency of machining, forward integration into machining of precision components and castings was a natural progression and catering to global giants like Cummins, Knorr-Bremse, Husco International.
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] 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.56.28 |
|
|
1 |
Rs.88.25 |
|
Euro |
1 |
Rs.70.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
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 |
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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--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.