MIRA INFORM REPORT
|
Report Date : |
20.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
KIRLOSKAR EBARA PUMPS LIMITED |
|
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|
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Registered Office : |
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Country : |
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|
|
Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
13.01.1988 |
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Com. Reg. No.: |
11-045865 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29120MH1988PLC045865 |
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|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEK05175C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and
Exporter of Industrial Pumps and Turbines |
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 4566000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a joint venture between Kirloskar Brother Limited, India
and Ebara Corporation Japan two renewed business houses. It is a well established and reputed company having fine track. There
appears some dip in the profitability of the company. However, netwoth
appears to be satisfactory. General financial position of the company is
good. Trade relations are reported as fair. Business is active. Payments are
reported to be regular 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country’s growth, which has averaged more than 7% per
year since 1997. India’s diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India’s output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis – in large part because of strong domestic demand – and growth
exceeded 8% year-on-year in real terms. However, India’s economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government’s fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India’s medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A+(Long Term Rating) |
|
Rating Explanation |
Adequate degree of safety. It carry low credit risk. |
|
Date |
03.07.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short Term Rating) |
|
Rating Explanation |
Very strong degree of safety. It carry lowest credit risk. |
|
Date |
03.07.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Ajit |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-20-25600100 |
|
Date : |
19.10.2012 |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-20-25600100 |
|
Fax No.: |
91-20-25600351 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Savantpur Vasahat, P.O. Kirloskarwadi, District Sangli-416308, |
|
Tel. No.: |
91-2346-222167/ 222371 |
|
Fax No.: |
91-2346-222372 |
DIRECTORS
AS ON 16.07.2012
|
Name : |
Mr. Sanjay Chandrakant Kirloskar |
|
Designation : |
Director |
|
Address : |
33, Suyojana Co-operative Housing Society, Scheme No. 2, |
|
Date of Birth/Age : |
22.03.1957 |
|
Date of Appointment : |
24.08.2004 |
|
DIN No.: |
00007885 |
|
|
|
|
Name : |
Mr. Toichi Kingoro Meda |
|
Designation : |
Director |
|
Address : |
4-5-25, Kugahara, Ohta-KU, |
|
Date of Birth/Age : |
24.12.1955 |
|
Date of Appointment : |
19.07.2003 |
|
DIN No.: |
01443689 |
|
|
|
|
Name : |
Ms. Aseem Krishanmohan Srivastav |
|
Designation : |
Managing Director |
|
Address : |
IPF 16/2, Shalimar Township, a B Road, Indore-452010, Madhya Pradesh,
India |
|
Date of Birth/Age : |
07.10.1967 |
|
Date of Appointment : |
19.04.2012 |
|
DIN No.: |
03178279 |
|
|
|
|
Name : |
Mr. Atsuo Oi |
|
Designation : |
Director Apposited in Casual Vacancy |
|
Address : |
2-17-1-609, Tamagawa, Ota-Ku,Tokyo, Japan |
|
Date of Birth/Age : |
20.02.1957 |
|
Date of Appointment : |
15.03.2012 |
|
DIN No.: |
05224778 |
KEY EXECUTIVES
|
Name : |
Mr. Ajit |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.07.2012
Shareholders details file attach
AS ON 16.07.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
45.00 |
|
Bodies corporate |
46.73 |
|
Directors or relatives of Directors |
5.20 |
|
Other top fifty shareholders |
3.07 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Industrial Pumps and Turbines |
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Products : |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS (AS ON : 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Industrial Process Pumps |
Nos. |
5000 |
1200 |
391 |
|
Steam Turbines |
Nos. |
150 |
150 |
20 |
NOTES
a)
Since the company’s installed capacity is dependent
on Product mix, which in turn is decided on the basis of actual demand for
various products from time to time and availment of sub-contracting facilities,
it is not feasible for the company to give exact installed capacity. The
company, however, indicated the installed capacity as estimated and certified
by Managing Director, and being a technical matter, accepted by the Auditors as
correct.
b)
Licensed capacity is as per the Industrial
Enterpreneur Memorandum filed with Ministry of Commerce and Industries,
New Delhi and acknowledged under Reference No. 5656/SIA/IM0/2005 dated
06.12.2005
c)
3 Nos. Turbines used for captive consumption.
GENERAL INFORMATION
|
Suppliers : |
· Enpro Industries Private Limited |
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Customers : |
Wholesalers and Retailers ·
HPCL ·
BPCL ·
IOCL |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
·
State Bank of India, Industrial Finance Branch, 2nd
Floor, Tara Chambers, Near Mariaai Police Chowky, Pune Mumbai Old Highway,
Wakdewadi, Pune-411003, Maharashtra, India ·
Yes Bank Limited, Nehru Centre, 9th
Floor, Discovery of India, Dr. A. B. Road, Worli, Mumbai-400018, Maharashtra,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Dalal and Shah Chartered Accountant |
|
Address : |
252, |
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PAN No.: |
AAAFD0907D |
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Associates (As On 31.03.2010) : |
·
Ellott Company, ·
Ebara Engineering ·
Elliott Turbomachinery Limited, U.K ·
Ellott Ebara |
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|
|
|
Enterprises that directly and indirectly control KEPL (As On
31.03.2010) : |
·
Kirloskar Brothers Limited ·
Ebara Corporation, ·
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|
|
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|
Other Related Companies (As On 31.03.2010) : |
·
Prakar Investments Private Limited ·
Better Value Holdings Private Limited ·
Asara Sales and Investments Private Limited ·
Virtuso Investments Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000
Millions |
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|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1136.500 |
992.795 |
788.694 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1141.500 |
997.795 |
793.694 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
92.567 |
0.000 |
26.861 |
|
|
2] Unsecured Loans |
16.112 |
17.144 |
18.263 |
|
|
TOTAL BORROWING |
108.679 |
17.144 |
45.124 |
|
|
DEFERRED TAX LIABILITIES |
36.329 |
22.643 |
18.296 |
|
|
|
|
|
|
|
|
TOTAL |
1286.507 |
1037.582 |
857.114 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
571.027 |
375.495 |
365.756 |
|
|
Capital work-in-progress |
9.101 |
61.793 |
3.412 |
|
|
|
|
|
|
|
|
INVESTMENT |
90.916 |
223.166 |
81.414 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
473.406
|
208.995
|
190.739
|
|
|
Sundry Debtors |
461.578
|
421.691
|
442.163
|
|
|
Cash & Bank Balances |
33.753
|
32.586
|
31.603
|
|
|
Other Current Assets |
0.286
|
0.221
|
6.106
|
|
|
Loans & Advances |
138.960
|
69.932
|
67.893
|
|
Total
Current Assets |
1107.983
|
733.425 |
738.504 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
290.459
|
158.766
|
140.333
|
|
|
Other Current Liabilities |
136.828
|
92.683
|
83.762
|
|
|
Provisions |
65.233
|
104.848
|
107.877
|
|
Total
Current Liabilities |
492.520
|
356.297 |
331.972 |
|
|
Net Current Assets |
615.463
|
377.128
|
406.532
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1286.507 |
1037.582 |
857.114 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales Turnover |
1159.871 |
1263.212 |
1239.672 |
|
|
|
Operating Income |
0.000 |
0.000 |
18.045 |
|
|
|
Other Income |
93.216 |
19.689 |
24.689 |
|
|
|
TOTAL (A) |
1253.087 |
1282.901 |
1282.406 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
611.811 |
582.494 |
565.375 |
|
|
|
Manufacturing service costs |
102.162 |
90.625 |
89.670 |
|
|
|
Contract cost |
38.329 |
23.276 |
0.000 |
|
|
|
Employee related expenses |
95.931 |
87.385 |
92.499 |
|
|
|
Administrative selling other expenses |
103.509 |
91.961 |
133.376 |
|
|
|
TOTAL (B) |
951.742 |
875.741 |
880.920 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
301.345 |
407.160 |
401.486 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.001 |
2.626 |
1.321 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
297.344 |
404.534 |
400.165 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
39.441 |
35.268 |
30.294 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
257.903 |
369.266 |
369.871 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
85.143 |
124.353 |
128.747 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
172.760 |
244.913 |
241.124 |
|
|
|
|
|
|
|
|
|
|
Tax Adjustments
in respect of earlier years |
NA |
NA |
[0.007] |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
34.454 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
NA |
180.000 |
|
|
|
Dividend |
NA |
NA |
35.000 |
|
|
|
Tax on Dividend |
NA |
NA |
5.948 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
54.623 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
NA |
96.500 |
65.523 |
|
|
|
Commission |
NA |
8.361 |
14.371 |
|
|
TOTAL EARNINGS |
NA |
104.861 |
79.894 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
98.944 |
57.755 |
|
|
|
Consumables |
NA |
1.506 |
1.910 |
|
|
|
Capital Goods |
NA |
0.089 |
48.519 |
|
|
TOTAL IMPORTS |
NA |
100.539 |
108.184 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
345.52 |
490 |
482 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
1400.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 1900.000 Millions
The above information has been parted by Mr. Ajit.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
13.79
|
19.09 |
18.80
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
22.24
|
29.23 |
29.84
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.36
|
33.30 |
33.39
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.37 |
0.47
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.56
|
0.40 |
0.48
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.25
|
2.06 |
2.23
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
|
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
290.459 |
158.766 |
140.333 |
|
TOTAL |
290.459 |
158.766 |
140.333 |
OPERATIONS
During the year,
the Company achieved a turnover of Rs. 1253.086 Millions as compared to Rs.
1282.902 Millions in the last financial year. There is no growth in the turnover
as compared to previous financial year. The decline in sales is mainly due to
delay in dispatches of Turbogensets for various reasons. The Company expects
improved performance for the current financial year, as it has sufficient
orders under execution as on date.
FORM 8
|
Corporate
identity number of the company |
U29120MH1988PLC045865 |
|
Name of the
company |
KIRLOSKAR EBARA
PUMPS LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
80001116 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Others |
|
Particular of
charge holder |
State Bank of India, Industrial Finance Branch, 2nd Floor,
Tara Chambers, Near Mariaai Police Chowky, Pune Mumbai Old Highway,
Wakdewadi, Pune-411003, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplemental
Agreement of Hypothecation of Goods and Assets for increase in the Overall
Limit (Form C.2) and Letter regarding the grant of individual limits within
the overall limit (Form C,-5) and the Memorandum for recording extension of
Mortgage by Deposit of Title Deeds in banks favour, all the documents execute to secure the
enhanced limit sanctioned by the Bank to the Borrower Company. |
|
Date of
instrument Creating the charge |
27.09.2011 |
|
Amount secured by
the charge |
Rs. 860.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 3.75% above Base
Rate or as advised from time to time. The company has given assent to the
Base Rate Concept. For BG: Flat Rate
of 0.70% p.a. Terms of repayment DCC: On Demand.
The renewal after 30.03.2012. Margin RM:25% Stock in
Process and Finished Goods :33.33% Book Debts (Cover Period 90 days):40% Extent and operation of the charge SBI IFB Pune will
have first and exclusive charge on all the present and future current assets
and the fixed immovable assets of the
company including the assets that will be brought into existence through the
credit facilities extended by the Bank to the Borrower Company. The charge will
be in continuous mode till the repayment of entire loan with interest thereon
and will be governed as per Sanction Letter issued by the Bank. Other The Company, by
virtue of the Board Resolution passed on 22.07.2011,has given assent to all the
Terms and Conditions, Covenants, as provided in the Bank's Sanction Letter
No. IFB/CREDIT.RM-III/22 Dated 30.04.2011 have executed the related loan
document(s)/ Agreement(s) through the Director(s),who have received and signed the documents in physical form
and who have been authorized to file
eform-8 for modifications in the existing limits and in the nature and
scope of the charge on agreed terms. |
|
Short particulars
of the property charged (Including location of the property) |
All the current
assets and of Book Debts generated through the commercial transactions of the
company located at the Registered Office and at the Works of the Company All that piece
and parcel of land bearing part of Gat No.904 at Savantpur Taluka
Palus(earlier Taluka Tasgaon) District Sangli adm 2.42.82 Hector and as
geographicated in the Memorandum of Title Deeds itself. All that piece
and parcel of land bearing part of Gat No.904 at savantpur Taluka Palus
District Sangli adm 31.5 Aar and as geographicated in the Memorandum of Title
Deeds itself. All the above
cited properties will continue as security for the enhanced limit to the tune
of Rs.860.000 Millions. |
|
Date of
instrument modifying the charge |
26.02.2011 |
|
Particulars of
the present modification |
By this present
modification the existing limit of Rs.800.000 Millions has been enhanced to
Rs.860.000 Millions.(The existing limit of LC facilities has been enhanced by
Rs.40.000 Millions while BG facilities have been enhanced by Rs.20.000
Millions. Thus the total enhancement in the existing limit is of Rs.60.000
Millions) The Company has also extended the security of immovable assets to
cover the enhanced limit through deposit of title deeds in banks favour. |
TRADE REFERENCES
· Enpro Industries Private Limited
·
HPCL
·
BPCL
·
IOCL
FIXED ASSETS
·
Land – freehold
·
Building
·
Plant and Machinery
·
Computers
·
Electrical Installation
·
Patterns
·
Furniture and Fittings
·
Vehicles
·
Computer Software
·
Technical Know how
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. 52.96 |
|
|
1 |
Rs. 85.45 |
|
Euro |
1 |
Rs. 69.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
62 |
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.