MIRA
INFORM REPORT
|
Report Date : |
01.04.2013 |
IDENTIFICATION DETAILS
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Name : |
GENIE AUTO PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
W-17, S Block, M.I.D.C., Bhosari, Behind Century Enka, Pune – 411 026,
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
29.11.1988 |
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Com. Reg. No.: |
11-049714 |
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Capital
Investment / Paid-up Capital : |
Rs 2.500 Millions |
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CIN No.: [Company Identification
No.] |
U34300MH1988PTC049714 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEG00803F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Sheet Metal Components and Assemblies. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 30000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are fair. Business is active. Payments are 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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Source
: CIA |
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.
LOCATIONS
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Registered Office : |
W-17, S Block, M.I.D.C., Bhosari, Behind Century Enka, Pune – 411 026,
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Tel. No.: |
91-20-27122363 |
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Mobile No: |
91-9545512405 (Mr Rahul Arora) |
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Fax No.: |
91-20-27122431 |
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E-Mail : |
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DIRECTORS
As on : 29.09.2012
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Name : |
Mr. Rahul Narendra Arora |
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Designation : |
Director |
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Address : |
423, Sector No.2, Indrayani Nagar, Bhosari, Pune – 411 026, |
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Date of Birth/Age : |
29.05.1975 |
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Date of Appointment : |
25.03.2000 |
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DIN No.: |
01684976 |
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Other Directorship:
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Name : |
Mrs. Geeta Narendra Arora |
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Designation : |
Director |
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Address : |
423, Sector No.2, Indrayani Nagar, Bhosari, Pune – 411 026, |
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Date of Birth/Age : |
26.05.1952 |
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Date of Appointment : |
29.11.1988 |
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DIN No.: |
01670155 |
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KEY EXECUTIVES
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Name : |
C.S. Kelkar and Associates |
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Designation : |
Company Secretaries |
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Address : |
102, Manikprabhu Apartment, 40/ 3, Bhonde Colony, Off |
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Tel No and Fax No: |
91-20-65249531/ 25454968/ 25420223 |
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E-Mail : |
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Website : |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 29.09.2012
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Names of Shareholders |
No. of Shares |
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Mrs Geeta Arora |
22500 |
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Mr Rahul Arora |
2500 |
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Total |
25000 |
Equity Share Break up (Percentage of Total Equity)
As on : 29.09.2012
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Sheet Metal Components and Assemblies. |
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Products : |
·
Sheet Metal Components ·
Pressed Components ·
Pipe Bending Components ·
Welded Sub Assemblies ·
Silencers ·
Outer Body for Gysers ·
Needle Bearing Cages ·
Hospital Furniture ·
Chasis Components and Fabrications |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
Janaseva Sahakari Bank Limited, 156, Gandhi
Chowk, Hadapsar, Pune-411028, ·
Rupee
Co-op Bank Limited, Chinchwad Branch, Pune – 411019, ·
Co-operative Bank ·
ICICI Bank ·
United Bank of |
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Facilities : |
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Auditors : |
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Name : |
Mr R V Nevatia and Company Chartered Accountants |
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Address : |
Flat no 2.3, Building no-6, Agrasen Nagar, Opposite Alfa Laval Co,
Dapodi, Pune-411002, |
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PAN No.: |
AAHPN3334K |
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Tel No: |
91-20-27148949, 91-20-30224251 |
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CAPITAL STRUCTURE
As on : 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs 100/- each |
Rs. 2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs. 100/-each |
Rs. 2.500 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.500 |
2.500 |
2.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.694 |
2.756 |
1.602 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8.194 |
5.256 |
4.102 |
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LOAN FUNDS |
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1] Secured Loans |
13.548 |
6.964 |
7.715 |
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2] Unsecured Loans |
7.535 |
5.435 |
5.137 |
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TOTAL BORROWING |
21.083 |
12.399 |
12.852 |
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DEFERRED TAX LIABILITIES |
0.471 |
0.282 |
0.150 |
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TOTAL |
29.748 |
17.937 |
17.104 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.055 |
9.142 |
6.562 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.941 |
0.592 |
0.476 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
4.242
|
4.370 |
7.999 |
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Sundry Debtors |
29.753
|
8.355 |
8.118 |
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Cash & Bank Balances |
0.653
|
0.317 |
0.155 |
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Other Current Assets |
0.000
|
0.000 |
0.340 |
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Loans & Advances |
1.074
|
0.425 |
0.000 |
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Total
Current Assets |
35.722
|
13.467 |
16.612 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
21.355
|
3.607 |
5.581 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
2.615
|
1.657 |
0.965 |
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Total
Current Liabilities |
23.970
|
5.264 |
6.546 |
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Net Current Assets |
11.752
|
8.203 |
10.066 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
29.748 |
17.937 |
17.104 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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|
39.470 |
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Other Income |
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|
0.081 |
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TOTAL |
111.015 |
74.188 |
39.551 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
104.796 |
71.268 |
39.261 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.219 |
2.920 |
0.290 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
1.959 |
1.253 |
0.000 |
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PROFIT BEFORE
TAX |
4.260 |
1.667 |
0.290 |
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Less |
TAX |
1.308 |
0.508 |
0.080 |
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PROFIT AFTER TAX |
2.952 |
1.159 |
0.210 |
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Earnings Per
Share (Rs.) |
118.08 |
-- |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.66
|
1.56 |
0.53 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.84
|
2.24 |
0.73 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.07
|
7.37 |
1.25 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
0.32 |
0.07 |
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Debt Equity Ratio (Total Debt /Networth) |
|
2.57
|
2.36 |
3.13 |
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Current Ratio (Current Asset/Current Liability) |
|
1.49
|
2.55 |
2.54 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 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 |
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 |
No |
OPERATIONS:
The company have been doing the Manufacturing of Auto Parts Press Components.
The Sales have been increased as compared to the previous year. The Sales
during the year were Rs. 111.015 Millions.
Bankers Charges
Report as per Registry:
|
Corporate
identity number of the company |
U34300MH1988PTC049714 |
|
Name of the
company |
GENIE AUTO
PRODUCTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
W-17, S Block
M.I.D.C., Bhosari, Pune – 411 026, E-Mail: accounts@genieauto.com |
|
This form is for |
Modification of
charge |
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Charge
identification number of the modified |
10057601 |
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Type of charge |
Movable Property |
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Particular of
charge holder |
Janseva Sahakari Bank Limited, 156, Gandhi Chowk, Hadapsar,
Pune-411028, E-Mail: loan@janasevabankpune.com |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation of Goods / Machinery |
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Date of
instrument Creating the charge |
31.05.2012 |
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Amount secured by
the charge |
Rs.39.300
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: For Term Loan
(Purchase of Machinery) of Rs. 18.100 millions 13.50% P.A. (Without Rebate) For Term Loan
(Construction of Machinery Shed) of Rs. 4.200 Millions 13.50% P.A. (Without
Rebate) Terms of Repayment: Term Loan (Purchase
of Machinery) of Rs. 18.100 Millions To be repaid in 60 monthly installments
of Rs. 0.450 Millions. Term Loan
(Construction of Machinery Shed) of Rs. 4.200 Millions To be repaid in 60
monthly installments of Rs. 0.105 Millions Margin: For Term Loan
(Purchase of Machinery) of Rs. 18.100 Millions 25% For Term Loan
(Construction of Machinery Shed) of Rs. 4.200 Millions 25% Extent and Operation of the charge:. First &
exclusive charge on movable properties of the Company purchased out of
additional Term Loan (Purchase of Machinery) facility of Rs. 18.100 Millions
& Term Loan (Construction of Machinery Shed) facility of Rs. 4.200
Millions Others: 2ONE |
|
Short particulars
of the property charged |
1) All present and future Machinery
i.e.TRUMPF Laser Cutting Machine L6030 & other movable properties,
situated at Plot No W17, S Block, Bhosari or elsewhere, purchased out of additional credit facilities 2) All piece & parcel of land bearing
Plot No W-17. S Block, Total Plot admn 1010 sq mtrs along with industrial
shed. (Secured by Previous charges) |
|
Date of latest
modification prior to the present modification |
25.05.2012 |
|
Particulars of
the present modification |
The additional security
in the form of hypothecation of machinery is provided for securing the Term
Loan (Purchase of Machinery) facility of Rs. 18.100 Millions. All the terms and conditions, including the
security / asset charged, of previous charges remain unchanged. |
UNSECURED LOAN :
|
Particulars |
31.03.2012 Rs in Millions |
31.03.2011 Rs in Millions |
|
Long
term Borrowings: |
|
|
|
Deposits from Directors |
0.288 |
0.288 |
|
Loan FromMrs Geeta Arora |
0.647 |
5.147 |
|
Loan From Mr Rahul Arora |
1.000 |
-- |
|
Total |
7.535 |
5.435 |
FIXED ASSETS :
- Land
(Leasehold)
- Factory Shed
- Plant and
Machinery
- Furniture and
Fixture
- Office
Equipments
- Electrical
Installation
- Motor Car
- Computer
- Jigs, Dies
and Tooling
- Tools and
Dies
- Maruti Car (Esteem)
- Honda Civic
- Vehicle (Two
Wheeler)
- Vehicle
(Captiva)
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 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 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. 82.32 |
|
Euro |
1 |
Rs. 69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.