MIRA
INFORM REPORT
|
Report Date : |
18.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
NHB BALL AND ROLLER LIMITED |
|
|
|
|
Registered
Office : |
103, Crystal Towers, 75, Gandivali Gaodhan Road No.3, Off
Andheri-Kurla Road, Andheri (East), Mumbai – 400 069, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.06.2012 |
|
|
|
|
Date of
Incorporation : |
26.10.1994 |
|
|
|
|
Com. Reg. No.: |
11-082390 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.100.325
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130MH1994PLC082390 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN04533E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN1736F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of precision steel balls made of carbon steel, chrome steel,
stainless steel, brass, aluminium and other materials. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1609000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having a satisfactory track record. Latest financials
of 2013 is not available with us. As per of 2012,
overall financial position of the company appears to be decent. Trade relations are
reported to be fair. Business is active. Payment terms are reported to be
usually correct. 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of 6.46
% for the month of September. It is up from 6.10 % in August. Growth continues
to be muted with factory output plunging to 0.6 % in August. Onion prices
have risen nearly 300 % from last September. Vegetables cost nearly 90 % more
than they did last year. Wake up to the economic contribution of slum dwellers.
They contribute more than 7.5 % to the country’s gross domestic product,
according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: BBB- |
|
Rating Explanation |
Moderate credit quality and average credit risk. |
|
Date |
April 08, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
April 08, 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
Management non-cooperative
(Tel. No.: 91-22-26832498)
LOCATIONS
|
Registered Office/ Head Office : |
103, Crystal Towers, 75, Gandivali Gaodhan Road No.3, Off Andheri-Kurla
Road, Andheri (East), Mumbai – 400 069, Maharashtra, India |
|
Tel. No.: |
91-22-26832498 / 26836783 / 26836784 |
|
Fax No.: |
91-22-26831765 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2700 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No.68 + 74
and 22 R to 28R, R S No.92 part, R S No.88 Part, and R S No.91 Part, Village
Antalia, Taluka – Gandevi, Bilimora – 396 325, Gujarat, India |
|
Tel. No.: |
91-2634-280004 |
|
Fax No.: |
91-2634-283034 |
|
Area: |
12511 sq. mtrs |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Andhakeshwar
Road, Village Amalsad, Navsari District – 396 310, Gujarat, India. |
|
Area: |
10000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Overseas Office
: |
Located at: ·
USA ·
Canada
|
DIRECTORS
AS ON 04.10.2013
|
Name : |
Mr. Harsukh Mohanlal Mehta |
|
Designation : |
Director |
|
Address : |
24-E, Mehta House, Juhu Road, Santacruz (West), Mumbai – 400 054,
Maharashtra, India |
|
Date of Birth/Age : |
04.03.1928 |
|
Qualification : |
D.SC (HON) USA |
|
Date of Appointment : |
29.11.1996 |
|
DIN No.: |
00367642 |
|
PAN No.: |
AAHPM0072B |
|
|
|
|
Name : |
Mr. Ashish Bhaskar Mehta |
|
Designation : |
Director |
|
Address : |
24-E, Mehta House, Juhu Road, Santacruz (West), Mumbai – 400 054,
Maharashtra, India |
|
Date of Birth/Age : |
21.11.1969 |
|
Qualification : |
M.B.A. |
|
Date of Appointment : |
29.11.1996 |
|
DIN No.: |
00725023 |
|
PAN No.: |
AAAPM5916H |
|
|
|
|
Name : |
Mr. Dharmesh Harsukh Mehta |
|
Designation : |
Director |
|
Address : |
24-E, Mehta House, Juhu Road, Santacruz (West), Mumbai – 400 054,
Maharashtra, India |
|
Date of Birth/Age : |
05.06.1966 |
|
Qualification : |
M.B.A. |
|
Date of Appointment : |
29.11.1996 |
|
DIN No.: |
00725189 |
|
PAN No.: |
AABPM6829Q |
|
|
|
|
Name : |
Mr. Kalpesh Bhaskar Mehta |
|
Designation : |
Director |
|
Address : |
Cozy Cottage, Adiyabad Estate, A.B. Nair Road, Juhu, Santacruz (West),
Mumbai – 400 054, Maharashtra, India |
|
Date of Birth/Age : |
21.07.1971 |
|
Qualification : |
M.B.A |
|
Date of Appointment : |
26.10.1994 |
|
DIN No.: |
00725207 |
|
PAN No.: |
AAAPM5917G |
|
|
|
|
Name : |
Mr. Bhaskar Mohanlal Mehta |
|
Designation : |
Managing Director |
|
Address : |
Cozy Cottage, Adiyabad Estate, A.B. Nair Road, Juhu, Santacruz (West),
Mumbai – 400 054, Maharashtra, India |
|
Date of Birth/Age : |
17.08.1934 |
|
Qualification : |
D.SC |
|
Date of Appointment : |
29.11.1996 |
|
DIN No.: |
00725253 |
|
PAN No.: |
AAHPM7439C |
|
|
|
|
Name : |
Mrs. Urmila Bhasker Mehta |
|
Designation : |
Director |
|
Address : |
24-E, Mehta House, Juhu Road, Santacruz (West), Mumbai – 400 054,
Maharashtra, India |
|
Date of Birth/Age : |
06.12.1941 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
29.11.1996 |
|
DIN No.: |
01825099 |
|
PAN No.: |
AAJPM6701B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 04.10.2013
|
Names of Shareholders |
|
No. of Shares |
|
Hasmukh Mehta |
|
958613 |
|
H.M. Mehta (HUF) |
|
447971 |
|
Sulochana H. Mehta |
|
531540 |
|
Dharmesh Mehta |
|
2458536 |
|
Sejal Mehta |
|
559475 |
|
Hana Mehta |
|
242566 |
|
Thea Mehta |
|
242566 |
|
Priti Jayant Doshi |
|
225000 |
|
Neeta Gandhi |
|
225000 |
|
Bhaskar Mehta |
|
1155043 |
|
Kalpesh Mehta (HUF) |
|
109135 |
|
Urmila Mehta |
|
644998 |
|
Ashish Mehta |
|
1627886 |
|
Kalpesh Mehta |
|
1627886 |
|
Arusha Tuli |
|
297878 |
|
Monica A. Mehta |
|
78640 |
|
Suchitra K. Mehta |
|
78640 |
|
Ashish Mehta (HUF) |
|
108948 |
|
B.M. Mehta (HUF) |
|
162211 |
|
Total
|
|
11782532 |
AS ON 04.10.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of precision steel balls made of carbon steel, chrome
steel, stainless steel, brass, aluminium and other materials. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]:
|
Particulars |
Unit |
30.06.2011 Quantity
(Lakhs. Nos.) |
|
Capacity and Productions (as per Returns submitted to DID) |
In No. |
33746.00 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management |
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|
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Bankers : |
·
Standard Chartered Bank, Crescenzo, 3A/F, Plot No.C-38
and 39, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051,
Maharashtra, India ·
State Bank of India, Mid Corporate Branch, VIA
House, GIDC, Vapi – 396 195, Gujarat, India ·
Dena Bank, Corporate Business Branch, C-10, G
Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra,
India |
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|
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Facilities : |
Notes: Term Loans from Bank Repayable in equated
periodic instalments upto a 5 Years from the date of respective loan. The Scheduled maturity of Secured long-term borrowing is summarised as
under :-
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kamdar Desai and Patel Chartered Accountants |
|
Address : |
296, Vasaikar
House, Cadell Road, Dadar (West), Mumbai – 400 028, Maharashtra, India |
|
PAN No.: |
AAAFK6984H |
CAPITAL STRUCTURE
AS ON 04.10.2013
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 |
|
11782532 |
Equity Shares |
Rs.10/- each
|
Rs.117.825
millions |
|
|
|
|
|
AS ON 30.06.2012
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 |
|
10032532 |
Equity Shares |
Rs.10/- each
|
Rs.100.325
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
30.06.2012 |
30.06.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
100.325 |
87.825 |
|
(b) Reserves & Surplus |
|
302.019 |
260.863 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
402.344 |
348.688 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
352.135 |
197.270 |
|
(b) Deferred tax liabilities (Net) |
|
12.592 |
12.592 |
|
(c) Other long
term liabilities |
|
0.500 |
0.500 |
|
(d) Long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
365.227 |
210.362 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
414.175 |
359.493 |
|
(b)
Trade payables |
|
501.507 |
382.461 |
|
(c) Other
current liabilities |
|
104.270 |
98.607 |
|
(d) Short-term
provisions |
|
2.827 |
11.645 |
|
Total Current
Liabilities (4) |
|
1022.779 |
852.206 |
|
|
|
|
|
|
TOTAL |
|
1790.350 |
1411.256 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
433.249 |
445.493 |
|
(ii)
Intangible Assets |
|
9.071 |
0.000 |
|
(iii)
Capital work-in-progress |
|
133.631 |
5.309 |
|
(iv) Intangible assets under development or
work-in-progress |
|
0.090 |
0.000 |
|
(b) Non-current Investments |
|
5.376 |
5.376 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
48.919 |
24.721 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
630.336 |
480.899 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
625.792 |
503.896 |
|
(c)
Trade receivables |
|
379.059 |
331.621 |
|
(d) Cash
and cash equivalents |
|
86.741 |
46.897 |
|
(e)
Short-term loans and advances |
|
42.018 |
17.512 |
|
(f)
Other current assets |
|
26.404 |
30.431 |
|
Total
Current Assets |
|
1160.014 |
930.357 |
|
|
|
|
|
|
TOTAL |
|
1790.350 |
1411.256 |
|
SOURCES OF FUNDS |
|
|
30.06.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
87.825 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
218.735 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
306.560 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
354.826 |
|
|
2] Unsecured Loans |
|
|
170.485 |
|
|
TOTAL BORROWING |
|
|
525.311 |
|
|
DEFERRED TAX LIABILITIES |
|
|
12.592 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
844.463 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
395.648 |
|
|
Capital work-in-progress |
|
|
3.837 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
5.376 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
423.558 |
|
|
Sundry Debtors |
|
|
337.507 |
|
|
Cash & Bank Balances |
|
|
9.456 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
144.932 |
|
Total
Current Assets |
|
|
915.453 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
402.745 |
|
|
Other Current Liabilities |
|
|
31.226 |
|
|
Provisions |
|
|
41.880 |
|
Total
Current Liabilities |
|
|
475.851 |
|
|
Net Current Assets |
|
|
439.602 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
TOTAL |
|
|
844.463 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1515.301 |
1285.816 |
1373.704 |
|
|
|
Other Income |
13.845 |
8.061 |
9.132 |
|
|
|
TOTAL (A) |
1529.146 |
1293.877 |
1382.836 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
863.926 |
760.149 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(14.638) |
(45.609) |
|
|
|
|
Employee benefit expense |
98.500 |
92.772 |
|
|
|
|
Other expenses |
386.809 |
328.789 |
|
|
|
|
TOTAL (B) |
1334.597 |
1136.101 |
1173.943 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
194.549 |
157.776 |
208.893 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
115.886 |
61.394 |
97.740 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
78.663 |
96.382 |
111.153 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
50.007 |
44.849 |
51.071 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
28.656 |
51.533 |
60.082 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
9.406 |
9.283 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
28.656 |
42.127 |
50.799 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
153.989 |
111.862 |
61.063 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
182.645 |
153.989 |
111.862 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
170.048 |
140.024 |
95.740 |
|
|
TOTAL EARNINGS |
170.048 |
140.024 |
95.740 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
439.795 |
319.519 |
186.092 |
|
|
|
Components , Packing Material and spare parts (Including Stores) |
42.504 |
39.198 |
33.603 |
|
|
|
Capital Goods |
54.350 |
40.216 |
14.467 |
|
|
|
Others (Includes Professional Fees, Foreign Travelling etc.) |
10.281 |
7.443 |
6.580 |
|
|
TOTAL IMPORTS |
546.930 |
406.376 |
240.742 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
- Basic |
2.86 |
4.80 |
5.78 |
|
|
|
- Diluted |
3.22 |
4.80 |
5.78 |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
PAT / Total Income |
(%) |
1.87
|
3.26 |
3.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.89
|
4.01 |
4.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.74
|
3.68 |
4.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.15 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.90
|
1.60 |
1.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.09 |
1.92 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current
maturities of long term debt:
|
Particulars |
30.06.2012 (Rs.
in millions) |
30.06.2011 (Rs.
in millions) |
30.06.2010 (Rs.
in millions) |
|
Current maturities of long term debt |
64.668 |
56.080 |
NA |
|
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 |
No |
|
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 |
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 |
No |
|
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 |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10426535 |
25/04/2013 |
1,427,300,000.00 |
DENA BANK |
CORPORATE
BUSINESS BRANCH, C-10, G BLOCK, BANDRA |
B75420257 |
|
2 |
10327881 |
03/05/2012 * |
180,000,000.00 |
STANDARD
CHARTERED BANK |
CRESCENZO, 3A/F,
PLOT NO. C-38 AND 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI,
MAHARASHTRA - 400051, INDIA |
B41540840 |
|
3 |
10277187 |
31/03/2011 * |
377,300,000.00 |
STATE BANK OF
INDIA |
MID CORPORATE
BRANCH (60144), VIA HOUSE, GIDC, VA |
B10949766 |
|
4 |
10211391 |
04/10/2011 * |
180,000,000.00 |
ST HELEN'S
NOMINEES INDIA PRIVATE LIMITED |
CHARTERED BANK
BLDG23-25 M G ROAD, FORT, MUMBAI, |
B58801713 |
|
5 |
10144139 |
07/03/2012 * |
565,200,000.00 |
DENA BANK |
C-10, G BLOCK, BANDRA
KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
B37148335 |
|
6 |
10144142 |
05/01/2009 |
40,000,000.00 |
DENA BANK |
CORPORATE
BUSINESS BRANCH, C-10, G-BLOCK, BANDRA |
A57348500 |
|
7 |
10144149 |
22/07/2010 * |
250,000,000.00 |
DENA BANK |
CORPORATE
BUSINESS BRANCH,, C-10, G- BLOCK, BANDR |
A90178880 |
|
8 |
10096480 |
31/03/2008 |
30,000,000.00 |
DENA BANK |
CORPORATE
BUSINESS BRANCH, DENA CORPORATE CENTRE, |
A36009967 |
|
9 |
10071922 |
22/07/2010 * |
110,600,000.00 |
DENA BANK |
CORPORATE BUSINESS
BRANCH, C-10, G- BLOCK, BANDRA-KURLA COMPLEX, BANDRA, MAHARASHTRA - 400051,
INDIA |
A90179185 |
|
10 |
10030803 |
30/11/2006 |
572,400,000.00 |
DENA BANK |
DENA CORPORATE
CENTRE, BANDRA-KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
A08034779 |
|
11 |
10019300 |
23/08/2006 |
100,000,000.00 |
DENA BANK |
CORPORATE
BUSINESS BRANCH, C-10, G BLOCK, BANDRA |
A04437752 |
|
12 |
10005575 |
02/06/2006 |
7,380,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013,
INDIA |
A01261569 |
|
13 |
10006289 |
02/06/2006 |
7,380,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
A01261916 |
|
14 |
90213346 |
03/05/2012 * |
488,500,000.00 |
DENA BANK |
CORPORATE
BUSINESS BRANCH, C-10, G-BLOCK, BANDRA |
B40732398 |
* Date of charge modification
|
Unsecured Loans |
30.06.2012 (Rs.
in Millions) |
30.06.2011 (Rs.
in Millions) |
|
LONG - TERM
BORROWINGS |
|
|
|
Other Loans and Advances |
118.254 |
152.790 |
|
Total
|
118.254 |
152.790 |
FINANCIAL AND OPERATIONAL PERFORMANCE:
a. During the
year, the company’s net sales grew by 18% as compared to the previous year.
During the period under report their Export sales grew by 21%.
b. The Company is
receiving utmost co-operation from its Bankers and the Directors wish to thank
them for their continued support.
c. The Directors also wish to thank the customers of the Company who continues
to place faith, in the quality of our products, over many years.
d. The company has
envisaged capacity addition program at both plants i.e. Amalsad and Bilimora
(Gujarat) to synchronize with exiting growth in the market and cater to the
untapped market. The first phase with Term Loan assistance from SBI, Vapi is
fully implemented. The second phase with an outlay of 24 crores has been
sanctioned an ECB assistance of Rs.180.000 millions by Standard Chartered Bank.
The project shall be fully implemented in 2012-13. The benefits of these
capexes shall reflect in our top and bottom lines from the current year
onwards.
e. The Company has
appointed Mr. Giuseppe Panaccione (Ex-employee NN Europe Pinerolo facility,
Italy) for introducing Channel Concept which shall provide us additional
benefits in terms of capacity, reduction of cost and improve bottom line from
next year onwards.
f. The Company has
successfully implemented SAP system, assisted by KPIT Cummins, which shall
streamline the day to day operations as well as improve the profitability of
the Company.
g. They have
envisaged diversifying into manufacture of 'rollers' for their existing
customers to start with. The project is under active consideration, but, the
implementation schedule shall be influenced by the market conditions.
CONTINGENT LIABILITIES NOT PROVIDED FOR:
|
Particulars |
30.06.2012 (Rs.
in Millions) |
30.06.2011 (Rs.
in Millions) |
|
Bank Guarantee and Letter of Credit |
|
|
|
Letter of credit with Dena Bank Limited-Mumbai |
398.509 |
303.111 |
|
Letter of Credit with SCB-Mumbai |
5.409 |
8.591 |
|
Letter of Credit With SBI-Vapi |
58.177 |
115.407 |
|
Bank Guarantee with Dena Bank Limited-Mumbai |
10.303 |
0.000 |
|
Less : Fixed deposits
shown under the head cash and bank balances include deposits pledged with the
banks as margins to secure letters of credit and guarantees issued by banks |
36.824 |
42.544 |
|
Net amount |
435.574 |
384.565 |
|
Sales Tax with Sales Tax Authority |
23.829 |
23.829 |
FIXED ASSETS:
Tangible Assets
·
Freehold Land
·
Freehold Building
·
Plant and Equipment
·
Electrical Installation
·
Lab. Equipment
·
Furniture and Fixture
·
Office Equipments
·
Computer System
·
Vehicles
Intangible Assets
·
Computer Software
·
Intangible Assets under Development
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 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.61.96 |
|
|
1 |
Rs.101.14 |
|
Euro |
1 |
Rs.85.33 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--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.