MIRA
INFORM REPORT
|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
GALA PRECISION ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-59, Road No. 10, Wagle Industrial Estate, Thane-400604, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.02.2009 |
|
|
|
|
Com. Reg. No.: |
11-190522 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 35.237 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29268MH2009PTC190522 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and seller of Disc Springs and washers and machines and
washing systems. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (37) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject belongs to Gala Group. It is an established company having moderate
track record. The Gala group business risk profile is deteriorating. However,
trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business with some caution. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Lon term Rating (BB) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
22.01.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating (A4+) |
|
Rating Explanation |
Minimal degree of safety. It carry high credit risk. |
|
Date |
22.01.2013 |
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.
LOCATIONS
|
Registered Office : |
A-59, Road No. 10, Wagle Industrial Estate, Thane-400604, |
|
Tel. No.: |
91-22-25821321/25800252/41410404/25821232/25820252 |
|
Fax No.: |
91-22-25820771 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Factory 1 : |
Plot No. 295, Village Vadavali at Post Met, |
|
Tel. No.: |
91-2526-220155 |
|
Fax No.: |
91-2526-220577 |
|
|
|
|
Factory 2 : |
No. 4 Workshop, |
|
E-Mail : |
|
|
|
|
|
|
Niederlassung Deutschland, 1st Floor, Lyoner Strasse 14,
60528 Frankfurt am Main |
|
Tel. No.: |
+49 69 66 55 41 58 (Ashish Thosar) |
|
Fax No.: |
+49 69 66 55 41 59 |
|
E-Mail : |
DIRECTORS
As on : 29.09.2012
|
Name : |
Mr. Kirit Vishanji Gala |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
161/162, Tarangan I, Shahid Mangal |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.08.1962 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.06.2009 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01540274 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Taramati Vishanji Gala |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
161/162, Tarangan I, Shahid Mangal |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.07.1944 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
23.02.2009 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01540332 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vishanji Harshi Gala |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
161/162, Tarangan I, Shahid Mangal |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.11.1936 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2010 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01540359 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Balkishan Shyamsunder Jalan |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Shankar Charya, Marg Powai, Mumbai-100076, |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.08.1970 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2010 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02876873 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Satish Dayaldas Kotwanj |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
C-5/502, Madhav Srishti, Kahdak Pada, Kalyan (West), Thane-421301, |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
17.07.1973 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2010 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
03154231 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Rajendra Despande |
|
Designation : |
Vice President |
|
|
|
|
Name : |
Mr. Anand Kaundanya |
|
Designation : |
Vice President |
|
|
|
|
Name : |
Mr. Swapnil Chogle |
|
Designation : |
Vice President |
|
|
|
|
Name : |
Mr. Raghavendra Prasad |
|
Designation : |
Associate Vice President |
|
|
|
|
Name : |
Mr. K Mahindran |
|
Designation : |
Associate Vice President |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 29.09.2012
Shareholders
details file Attached
Equity
Share Break up (Percentage of Total Equity)
As on : 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
94.54 |
|
Other top fifty shareholders |
5.46 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and seller of Disc Springs and washers and machines and
washing systems. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
State Bank of |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs. in Millions)
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountant |
|
Address : |
KPMG House, Kamla Mills Compound, 448, Senapati Bapat Marg, Lower
Parel, Mumbai-400013, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
Gala Precision Components ( |
CAPITAL STRUCTURE
As on : 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs. 110.000 Millions |
|
7000000 |
Preferences Shares |
Rs.10/- each |
Rs. 70.000 Millions |
|
|
Total |
|
Rs. 180.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2023716 |
Equity Shares |
Rs.10/- each |
Rs. 20.237 Millions |
|
1500000 |
Preferences Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
Total |
|
Rs. 35.237
Millions |
|
|
|
|
|
31 March 2012
|
Particulars |
Number |
Amount |
|
Equity shares |
|
|
|
At the
commencement of the period |
1.738 |
17.380 |
|
Shares issued |
0.285 |
2.857 |
|
At the end of the
period |
2.023 |
20.237 |
|
6%
Non-cumulative compulsorily convertible preference
shares |
|
|
|
At the
commencement of the period |
1.500 |
15.000 |
|
Shares issued |
-- |
-- |
|
At the end of the
period |
1.500 |
15.000 |
Rights, preferences and restrictions attached to equity shares:
The company has a single class of equity
shares. Accordingly, all equity shares rank equally with regard to dividends
and share in the company’s residual assets. The equity shares are entitled to
receive dividend as declared from time to time subject to payment of dividend
to preference shareholders. The voting rights of an equity shareholder on a
poll (not on show of hands) are in proportion to its share of the paid-up
equity capital of the company. Voting rights cannot be exercised in respect of
shares on which any call or other sums presently payable have not been paid.
Failure to pay any amount called up on shares may lead to forfeiture of the
shares.
On winding up of the company, the holders of
equity shares will be entitled to receive the residual assets of the company,
remaining after distribution of all preferential amounts in proportion to the
number of equity shares held.
31 March 2012
|
Particulars |
Number |
%
of total shares in the class |
|
Equity shares
Rs. 10each, fully paid-up |
|
|
|
Kirit
Vishanji Gala |
0.603 |
29.82 |
|
Vishanji
Harshi Gala |
0.411 |
20.32 |
|
Rumie
Kirit Gala |
0.311 |
15.41 |
|
Taramati
V Gala |
0.260 |
12.89 |
|
6%
Non-cumulative compulsorily convertible preference
shares of Rs. 10 each, fully paid-up held up |
|
|
|
Gala
Springs Private Limited |
1.500 |
0.100 |
Share capital (Continued):
Rights, preferences and restrictions attached to preference shares:
1,500,000 6% non-cumulative compulsorily
convertible preference shares (CCPS) of Rs. 10 each, fully paid-up were
privately placed with Gala Springs Private Limited.
The CCPS are convertible after the term of
seven years from the date of issue to 38% of equity share capital post
conversion without any downward protection.
The CCPS carries a preferential right as to
dividend over equity shareholders. Where dividend is not declared for a
financial year, the entitlement for that year lapses. The CCPS are entitled to
one vote per share at meetings of the Company on any resolutions of the company
directly affecting their rights. In the event of liquidation, preference
shareholders have a preferential right over equity shareholders to be repaid to
the extent of capital paid-up and dividend in arrears on such shares
Investments in and dues from Gala Precision
Components (
The Company has investments aggregating to
Rs. 74,571,334 (previous year: Rs. 29,512,209) in its wholly-owned subsidiary,
Gala Precision Components (
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 |
35.237 |
32.380 |
32.379 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
217.589 |
152.764 |
152.218 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(16.572) |
|
|
NETWORTH |
252.826 |
185.144 |
168.025 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
170.580 |
168.002 |
176.532 |
|
|
2] Unsecured Loans |
46.200 |
85.000 |
20.000 |
|
|
TOTAL BORROWING |
216.780 |
253.002 |
196.532 |
|
|
DEFERRED TAX LIABILITIES |
0.602 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
470.208 |
438.146 |
364.557 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
159.708 |
148.900 |
167.913 |
|
|
Capital work-in-progress |
4.803 |
4.281 |
11.598 |
|
|
|
|
|
|
|
|
INVESTMENT |
103.016 |
59.049 |
19.481 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
150.528
|
140.675 |
77.100
|
|
|
Sundry Debtors |
117.463
|
160.556 |
123.360
|
|
|
Cash & Bank Balances |
2.978
|
6.780 |
2.802
|
|
|
Other Current Assets |
0.143
|
0.060 |
0.000
|
|
|
Loans & Advances |
33.504
|
39.209 |
24.885
|
|
Total
Current Assets |
304.616
|
347.280 |
228.147 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
45.683
|
71.086 |
33.887
|
|
|
Other Current Liabilities |
25.920
|
20.331 |
17.142
|
|
|
Provisions |
30.332
|
29.947 |
11.553
|
|
Total
Current Liabilities |
101.935
|
121.364 |
62.582 |
|
|
Net Current Assets |
202.681
|
225.916 |
165.565 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
470.208 |
438.146 |
364.557 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
551.946 |
412.484 |
231.148 |
|
|
|
Other Income |
18.783 |
5.038 |
15.609 |
|
|
|
TOTAL |
570.729 |
417.522 |
246.757 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
548.996 |
399.463 |
263.330 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
21.733 |
18.059 |
(16.573) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.051 |
0.946 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
17.682 |
17.113 |
(16.573) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
17.682 |
17.113 |
(16.573) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of goods calculated on FOB basis |
291.557 |
177.113 |
57.002 |
|
|
TOTAL EARNINGS |
291.557 |
468.67 |
234.115 |
|
|
|
|
|
|
|
|
|
|
VALUE OF IMPORTS ON CIF BASIS |
|
|
|
|
|
|
|
Raw Materials |
80.353 |
46.959 |
22.931 |
|
|
|
Capital Goods |
0.160 |
2.680 |
0.000 |
|
|
TOTAL IMPORTS |
80.514 |
49.640 |
22.931 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
10.17 |
9.85 |
(23.17) |
|
|
|
Diluted |
5.94 |
6.10 |
(23.17) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.20
|
4.15 |
(6.72) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.81
|
4.32 |
(7.17) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.68
|
3.64 |
(4.18) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.10 |
(0.10) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.86
|
1.36 |
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.99
|
2.86 |
3.65 |
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
Bankers Charges
Report as per Registry :
|
Corporate identity
number of the company |
U29268MH2009PTC190522 |
|
Name of the
company |
Gala Precision
Engineering Private Limited |
|
Address of the
registered office or of the principal place of business in |
A-59, Road No. 10, Wagle Industrial Estate, Thane-400604, |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10165862 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Memorandum of
Deposit for Creation of Further Charge (C.10) |
|
Date of
instrument Creating the charge |
18.05.2012 |
|
Rs. 253.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Extend and operation of the charge: First charge |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
1) Land bearing Gut No. 295, Hissa Nos. 2
(Part) & 4 (Part), admn. 12,800 sq. meters, in Village Wadavali, Taluka
Wada, Dist. Thane, Maharashtra, India 2) Industrial Plot bearing Gat No.302(p),
Khata No.205, Plot No.1, in Village Musarane, Tal. Wada, Dist. Thane, 3) Indl. land bearing Gat no.302 (p), Khata
No. 206, Plot No. 2, in Village Musarane, Taluka Wada, Dist. Thane, 4) Plot No. A-59, admn. 1,105 sq. meters, in
Wagle Industrial Estate, Village Panchpakhadi, Taluka and Dist. Thane,
Maharashtra, India together with structure and fixed plant and M/c thereon. |
|
Date of
instrument modifying the charge |
21.06.2011 |
|
Particulars of
the present modification |
Equitable
mortgage created on 19/03/2010 on immovable properties of the Co. as stated
in Column 15(i) to (iii) above and on 21/06/2011 on properties stated at 15
(iv) above to secure the credit facilities aggregating to Rs.194.200
Millions, extended to furthers secure the enhanced credit facilities
aggregating to Rs. 253.200 Millions. |
Company overview:
Gala Precision Engineering Private Limited (‘the Company’) was
incorporated in 2009.The Company purchased disc spring and mass finishing
solution business from Gala Precision Technology Private Limited under Business
Transfer Agreement dated 26 May 2009 with effect from 1 June 2009. The Company
has its production unit at Wada in Thane District,
OPERATIONS:
During the year
2011-12, the company have achieved gross turnover of Rs 606.749 Millions. The
above turnover excludes Inter-Unit Sale. There is no impact on profit &
loss as the Inter-unit sale took place at Cost and accordingly matching cost
was excluded from expenses side. During this period they have achieved Exports
Sales of Rs 291.818 Millions. During the current year the Export Sales have
increased against the previous
year
from Rs 180.881 Millions to Rs 291.818 Millions i.e growth of 61.33 % and this
has improved their profitability. They could do this due to aggressive market
development and adding new customers.
The 100% WOS in
china which was earlier part of Gala Precision Technology private Limited and
the same have been taken over by us as a part of BTA and applications to RBI under
Automatic route is made and is under process. The 100% WOS in
business.
Business
Development :
The company is
expecting increase in growth by utilising the capacity to the maximum and
matching the customer orders. Market development efforts are further continuing
in this direction to achieve similar growth in 2012-13.
Unsecured Loan :
|
Particulars |
As
on 31.03.2012 (Rs.
in Millions) |
As
on 31.03.2010 (Rs.
in Millions) |
|
Short term
borrowings: |
|
|
|
Loan from
Directors/shareholders |
46.200 |
75.000 |
|
Inter-corporate
deposits |
-- |
10.000 |
|
Total |
46.200 |
85.000 |
Fixed Assets:
- Development
Cost
- Bore Well
- Plant and
Machinery
- Electrical
Installation
- Computers
- Vehicles
- Office
Equipments
- Dies and
Moulds
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 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. 54.88 |
|
|
1 |
Rs. 83.54 |
|
Euro |
1 |
Rs. 70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
37 |
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.