MIRA
INFORM REPORT
|
Report Date : |
24.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ADOR POWERTRON LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 51 D II Block MIDC, Ram Nagar Complex, Chinchwad,
Pune-411019, Maharashtra |
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.01.1995 |
|
|
|
|
Com. Reg. No.: |
11-084268 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 45.575 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31103PN1995PLC084268 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Digital Power Electronic Equipments |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
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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 a part of ADOR Group. It is a well established company having a satisfactory track record. There
appears slight dip in profitability. However, general financial position seems to be good. Trade relations
are reported to be fair. Business is active. Payments are reported to be
usually correct and as per commitment. In view of experience promoters the company can be considered for
normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
SP 2A |
|
Rating Explanation |
Rating indicate high performance capability high financial strength |
|
Date |
April 2013 |
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 DECLINED BY
|
Name : |
Mr. Pushkar |
|
Designation : |
Finance Department |
|
Contact No.: |
91-20-27472532 |
|
Date : |
24.04.2013 |
LOCATIONS
|
Registered Office / Corporate Office : |
Plot No. 51 D II Block MIDC, Ram Nagar Complex, Chinchwad,
Pune-411019, Maharashtra, India. |
|
Tel. No.: |
91-20-27472532 / 40737300 |
|
Mobile No.: |
91-9830164733 (Mr. Nitin Chandra) |
|
Fax No.: |
91-20-27475817 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
25000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located At ·
Kolkata ·
Delhi ·
Chennai ·
Bangalore ·
Mumbai |
DIRECTORS
As on 22.09.2012
|
Name : |
Mr. Ravindra Balwant Lad |
|
Designation : |
Director |
|
Address : |
1501, lepapeyon |
|
Date of Birth/Age : |
09.12.1948 |
|
Date of Appointment : |
26.04.2001 |
|
DIN No.: |
00005632 |
|
|
|
|
Name : |
Mr. Shrikant V. Hasabnis |
|
Designation : |
Director |
|
Address : |
Sujata Morya HSH, 33/37, Karve Nagar, Pune-411052, |
|
Date of Birth/Age : |
01.10.1947 |
|
Date of Appointment : |
21.06.1996 |
|
DIN No.: |
00014532 |
|
|
|
|
Name : |
Mr. Rishab R. Gowani |
|
Designation : |
Director |
|
Address : |
Tirupati Apartment, |
|
Date of Birth/Age : |
24.04.1984 |
|
Date of Appointment : |
28.04.2008 |
|
DIN No.: |
00025379 |
|
|
|
|
Name : |
Ms. Aruna B. Advani |
|
Designation : |
Director |
|
Address : |
6/65, Sham Nivas, |
|
Date of Birth/Age : |
19.11.1954 |
|
Date of Appointment : |
17.05.2004 |
|
DIN No.: |
00029256 |
|
|
|
|
Name : |
Mr. Ravin A. Mirchandani |
|
Designation : |
Director |
|
Address : |
432, Street 4 Sind society, Aundh, Pune-411007, |
|
Date of Birth/Age : |
13.10.1970 |
|
Date of Appointment : |
31.07.2007 |
|
DIN No.: |
00175501 |
|
|
|
|
Name : |
Mr. Deep Ashda Lalwani |
|
Designation : |
Director |
|
Address : |
Ashutosh CHS Flat No.82, 8th Floor, 38-A |
|
Date of Birth/Age : |
14.02.1981 |
|
Date of Appointment : |
28.04.2009 |
|
DIN No.: |
01771000 |
|
|
|
|
Name : |
Ms. Akshita R. Lad |
|
Designation : |
Director |
|
Address : |
1501, Le-pepeyon Mount, |
|
Date of Birth/Age : |
21.12.1978 |
|
Date of Appointment : |
28.04.2008 |
|
DIN No.: |
02105571 |
KEY EXECUTIVES
|
Name : |
Mr. Chitranjan Jain |
|
Designation : |
Secretary |
|
Address : |
C-13/12 HDFC Colony, Chinchwad Pune - 411019, Maharashtra, India. |
|
Date of Birth/Age : |
01.10.1976 |
|
Date of Appointment : |
01.01.2006 |
|
Pan No. : |
AEYPJ5586N |
|
|
|
|
Name : |
Mr. Pushkar |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2012
SHAREHOLDING DETAILS FILE ATTACHED
As on 22.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Nationalised or other banks |
0.01 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
1.90 |
|
Bodies corporate |
85.98 |
|
Directors or relatives of Directors |
3.00 |
|
Other top fifty shareholders |
1.70 |
|
Others |
7.41 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Digital Power Electronic Equipments |
||||||||
|
|
|
||||||||
|
Products : |
¨
High voltage power suppliers ¨
¨
Low voltage high current power sources ¨
Telecom power suppliers ¨
Products for railways ¨
Motion control equipments ¨
Wound components ¨
Industrial software services UPS |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|||||||||||||||
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Bankers : |
· Bank of Baroda, Pimpri Chinchwad Branch, Olympic House, Mumbai Pune Road, Pimpri, Pune - 411018, 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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|
|||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dalal and Shah Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028,
Maharashtra, India |
|
PAN.: |
AAAFD0907D |
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|
|
|
Holding Company : |
J B Advani And Company Private Limited CIN No.: U51900MH1944PTC004217 |
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|
|
|
Felliw Subsidiaries: |
Ador Welding Limited |
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Related party |
Kamala Mills Limited |
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Joint Venture : |
Ador Powertron Leadyoung (Xiamen) Rectifiers Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4557500 |
Equity Shares |
Rs.10/- each |
Rs.45.575
Millions |
|
|
|
|
|
Reconciliation of the
shares outstanding at the beginning and at the end of the year
|
Particulars |
No. of Shares |
Rs. In Millions |
|
At the beginning of the period |
4,557,500 |
45.575 |
|
Issued during the year |
-- |
-- |
|
Outstanding at the end of the year |
4,557,500 |
45.575 |
The Company has only one class of equity shares having a par value of Rs10/- per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Shares held by
holding/ultimate holding company and/or their subsidiaries/associates
|
Name of Shareholder |
No. of Shares |
|
J. B. Advani and Company Private Limited - the holding company w.e.f. 31st October, 2011 |
2,279,450 |
|
Ador Welding Limited a subsidiary of J. B. Advani and Company Private Limited |
100 |
Details of
shareholders holding more than 5% shares in the company
|
Name of Shareholder |
No. of Shares held |
%of Holding |
|
J. B. Advani and Company Private Limited |
2,279,450 |
50.02% |
|
Kamala Mills Limited |
1,638,480 |
35.85% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
45.575 |
45.575 |
45.575 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
207.237 |
193.679 |
179.901 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
252.812 |
239.254 |
225.476 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
172.766 |
85.717 |
87.594 |
|
|
2] Unsecured Loans |
0.000 |
12.000 |
0.000 |
|
|
TOTAL BORROWING |
172.766 |
97.717 |
87.594 |
|
|
DEFERRED TAX LIABILITIES |
0.070 |
2.425 |
3.458 |
|
|
|
|
|
|
|
|
TOTAL |
425.648 |
339.396 |
316.528 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
100.795 |
115.577 |
125.514 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.677 |
9.727 |
15.317 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
201.292
|
147.332 |
112.761 |
|
|
Sundry Debtors |
299.745
|
211.438 |
164.791 |
|
|
Cash & Bank Balances |
33.995
|
25.121 |
25.032 |
|
|
Other Current Assets |
8.189
|
5.082 |
0.000 |
|
|
Loans & Advances |
52.623
|
39.070 |
23.620 |
|
Total
Current Assets |
595.844
|
428.043 |
326.204 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
214.312
|
151.435 |
104.079 |
|
|
Other Current Liabilities |
34.501
|
28.594 |
22.954 |
|
|
Provisions |
25.855
|
33.922 |
23.474 |
|
Total
Current Liabilities |
274.668
|
213.951 |
150.507 |
|
|
Net Current Assets |
321.176
|
214.092 |
175.697 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
425.648 |
339.396 |
316.528 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
833.417 |
775.667 |
687.591 |
|
|
|
Other Income |
5.037 |
3.636 |
5.632 |
|
|
|
TOTAL (A) |
838.454 |
779.303 |
693.223 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
498.261 |
|
|
|
|
|
Purchases of Traded Goods |
86.594 |
83.475 |
|
|
|
|
(Increase) / Decrease in Inventories of Finished goods, work-in-progress and traded goods. |
(49.391) |
(23.554) |
645.379 |
|
|
|
Employee benefit expense |
113.127 |
98.769 |
|
|
|
|
Other expenses |
123.500 |
120.372 |
|
|
|
|
Expenses including in above items, capitalised |
(0.365) |
0.000 |
|
|
|
|
TOTAL (B) |
771.726 |
714.581 |
645.379 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
66.728 |
64.722 |
47.826 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
25.504 |
10.941 |
10.036 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
41.224 |
53.781 |
37.790 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.156 |
21.733 |
23.426 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
22.068 |
32.048 |
14.364 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.500 |
12.972 |
5.378 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
12.568 |
19.076 |
8.986 |
|
|
|
|
|
|
|
|
|
|
Excess / (Short)
Provision for tax reduing to earlier years |
0.991 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
57.450 |
46.210 |
39.724 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
2.500 |
2.500 |
|
|
|
Dividend |
NA |
4.558 |
0.000 |
|
|
|
Tax on Dividend |
NA |
0.778 |
00000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
57.450 |
46.210 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
150.331 |
45.870 |
NA |
|
|
|
Commission Earnings |
0.000 |
0.456 |
NA |
|
|
TOTAL EARNINGS |
150.331 |
46.326 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material and Components |
169.367 |
77.886 |
NA |
|
|
|
Capital Goods |
0.977 |
1.954 |
NA |
|
|
TOTAL IMPORTS |
170.344 |
79.840 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.98 |
4.19 |
1.97 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.50
|
2.45 |
1.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.65
|
4.13 |
2.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.17
|
5.90 |
3.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.13 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.68
|
0.41 |
0.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17
|
2.00 |
2.17 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Trade Payables |
214.312
|
151.435 |
104.079 |
|
Total |
214.312
|
151.435 |
104.079 |
|
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 |
No |
|
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 |
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 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 |
OPERATIONS
The prevailing recession continued to affect their performance during the financial year 2011-12. The total income of the Company is of Rs. 838.400 Millions, an increase by 7.5% as compared to the previous year. However the profitability was affected due to increase in the operating cost, on account of increase in major raw material cost like Copper, Oil and Steel coupled with rupee depreciated over 15%. The company was able to report Profit before Tax of Rs. 22.100 Millions against Rs. 32.000 Millions in previous year. Further with no orders from BSNL for Switch Mode Power Supply (SMPS) reduced projected growth to just 7.5%.
· The Company is in the process of acquiring entire share of its China JV With this acquisition the China JV will be 100% owned by APL. Apart from Manufacturing TR Sets, the Company plans to source and sell spares for Chinese ESP installations in India and also to sell ESP controllers in Chinese Market.
· The Company is expanding its selling activities to cater the entire electrical to Power Sector where they have a strong presence. Also the company plans to take up raw material for small ESP installation and supply latest controls which company is going to manufacture with technology from Redkoh, USA.
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
Rs. In Millions
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Sales Bills discounted |
-- |
-- |
|
Claims against the Company not Acknowledged as Debts |
- |
- |
|
Income -Tax Matters under disputes Appeal By Company |
3.074 |
3.074 |
|
Total |
3.074 |
3.074 |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Short - Term
Borrowings: |
|
|
|
Short term loan taken From Ador Fontech Limited |
0.000 |
12.000 |
|
Total |
0.000 |
12.000 |
|
|
|
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U31103PN1995PLC084268 |
|
Name of the
company |
ADOR POWERTRON LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 51 D II Block MIDC, Ram Nagar Complex, Chinchwad,
Pune-411019, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
· Book debts · Movable property (not being pledge) · Floating charge ·
Others (Current and moveable FA) |
|
Particular of
charge holder |
Yes Bank Limited,
Nehru Centre, 9th Floor, Discovery Of India, Dr. A B Road, Worli, Mumbai
- 400018, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed Of
Hypothecation Dated 5th Day Of March, 2013 |
|
Date of
instrument Creating the charge |
05.03.2013 |
|
Amount secured by
the charge |
Rs.55.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest WCDL - To be
decided at the time of disbursement CC/SID - 1.5%
p.a. above YBL base rate LC/LOUBC/BG- 1.0%
p.a. payable upfront (all inclusive) TL - 2.0% p.a.
above YBL Base rate Terms of Repayment WCDL/SID/LOUBC -
up to 90 days CC - 12 months LC Domestic -
Usance Upto 90 days LC Import -
Usance Upto 180 days BG - 24 months
including claim period. TL - 18 months Margin WCDL/CC - 25% on
(Stock plus Debtors less than 90 days - Creditors) SID/TL - 10% Extent and Operation of the charge First pari passu charge
on Present and future current assets of stocks including Raw material,
consumables, WIP, Finished goods, Stock in transit and receivables First pari passu
charge on Present and future block of
fixed assets [movable and immovable] including plant and machinery based at
HVR Plant : Ram nagar Complex, Plot
No. 51, D-II Block, MIDC Others 1. Working
Capital Demand Loan - Rs. 35.000 Millions in which following are sub-limits:- 1a. Cash credit -
Rs. 15.000 Millions 1b.Sales bill
discounting - Rs. 35.000 Millions 1c. Letter of
credit- domestic - Rs. 35.000 Millions 1d. Letter of
credit- import - Rs. 35.000 Millions 1e.Letter of
undertaking for buyers credit - Rs. 15.000 Millions 1f. Bank
guarantee- Rs. 35.000 Millions 2. Term loan -Rs.
20.000 Millions Total - Rs.
55.000 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The borrower doth do hereby hypothecate by way of First pari passu charge on the current assets of borrower's stock of raw material, semi-finished and finished goods, stores and spares including relating to plant and machinery (consumable stores and spares),bills receivables and book debts and al other receivables and movables, both present and future whether lying or about or shall hereinafter about or shall hereinafter from time to time during the security of these presents be brought into be or upon or be stored or be in or about of the borrower's factories, premises and godowns situate anywhere and as the same may be or be held by any party to order or disposition of borrower or in course of transit or on high seas,order or delivery, howsoever or whosoever in possession/control of borrower either by way of substitution or addition and First pari passu charge on Present and future block of fixed assets [movable and immovable] including plant and machinery based at HVR Plant : Ram nagar Complex, Plot No. 51, D-II Block, MIDC |
Fixed Assets:
¨
¨ Buildings
¨ Plant and Machinery
¨ Electrical Installations
¨ Furniture and Fixtures
¨ Office Equipments
¨ Vehicles
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.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.