MIRA
INFORM REPORT
|
Report Date : |
27.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
BOSCH REXROTH (INDIA) LIMITED (w.e.f. 20.06.2011) |
|
|
|
|
Formerly Known
As : |
REXROTH MANEKLAL INDUSTRIES LIMITED |
|
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Registered
Office : |
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
18.02.1974 |
|
|
|
|
Com. Reg. No.: |
04-002468 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 63.509 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29120GJ1974PLC002468 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMB00364A |
|
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|
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PAN No.: [Permanent Account No.] |
AAACM9898F |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Hydraulic Systems/ Valves/
Pumps. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 7700000 |
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|
|
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having fine track record. Company has performance well. Financial position of the company
appears to be above average. Rating also takes into consideration financial support from Robert
Bosch GmbH group. Trade relation are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
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
Uptick in
agriculture and construction spread some cheer as the economy grew a higher-than-expected
4.8 % in the three months through September. Manufacturing rose an annual rate
per cent during the quarter and mining fell by 0.4 %, government data showed
while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based Cash credit: “AA-” |
|
Rating Explanation |
High credit quality and low credit risk. |
|
Date |
March 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Fund Based : “A1+” |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
March 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. Shinde |
|
Designation : |
Manager |
|
Contact No.: |
91-22-66058817 |
|
Date : |
23.12.2013 |
LOCATIONS
|
Registered Office/ Factory/ Corporate office : |
Sanand Viramgam Highway, Mouje Lyava Taluka Sanand – 382170, Gujarat,
India |
|
Tel. No.: |
91-22-66058817 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on: 25.06.2013
|
Name : |
Mr. Karl Tragl |
|
Designation : |
Additional Director |
|
Address : |
Am Scholzenfeld 13, Partenstein, Germany-97846 |
|
Date of Birth/Age : |
05.06.1962 |
|
Qualification : |
Post Qualification |
|
Date of Appointment : |
22.02.2011 |
|
DIN No.: |
03527241 |
|
|
|
|
Name : |
Mr. Heribert Michael Ott |
|
Designation : |
Director |
|
Address : |
Birkigstrasse 13, Lohar Germany-97816 |
|
Date of Birth/Age : |
15.10.1954 |
|
Qualification : |
Post Qualification |
|
Date of Appointment : |
23.01.1999 |
|
DIN No.: |
01639234 |
|
|
|
|
Name : |
Mr. Johannes Thomas Grobe |
|
Designation : |
Managing director |
|
Address : |
3, Old No. 10, Midford, Garden Off. M. G. Road, Bangalore – 560001,
Karnataka, India |
|
Date of Birth/Age : |
24.11.1965 |
|
Qualification : |
Post Qualification |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
06424758 |
|
|
|
|
Name : |
Mr. Deepak Sitaldas Chellani |
|
Designation : |
Whole-time director |
|
Address : |
1201, Raj Heritage Tower, L. M. Road, Borivali (West), Mumbai –
400103, Maharashtra, India |
|
Date of Birth/Age : |
28.06.1964 |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
06433338 |
|
|
|
|
Name : |
Mr. Ramaswamy Srinivas Pradeep |
|
Designation : |
Whole-time director |
|
Address : |
No. 1, 11th Cross, GHBCS Layout, Basaveshwari Nagar,
Bangalore – 560079, Karnataka, India |
|
Date of Birth/Age : |
14.04.1963 |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
06433529 |
|
|
|
|
Name : |
Mr. Franz Hauber Xaver |
|
Designation : |
Director |
|
Address : |
No. 1, 11th Cross, GHBCS Layout, Basaveshwari Nagar,
Bangalore – 560079, Karnataka, India |
|
Date of Birth/Age : |
18.07.1959 |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
06485529 |
KEY EXECUTIVES
|
Name : |
Mr. Vanrajsinh Ganpatsinh Rathod |
|
Designation : |
Secretary |
|
Address : |
Shraddha Associates, Opposite Laxmi Lime, Godagam, Ahmedabad – 382481,
Gujarat, India |
|
Date of Birth/Age : |
26.10.1987 |
|
Qualification : |
|
|
Date of Appointment : |
25.06.2013 |
|
PAN No.: |
AMJPR7847R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.06.2013
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 25.06.2013
|
Category |
|
Percentage |
|
|
|
|
|
Public Financial companies |
|
0.01 |
|
Nationalized or other banks |
|
0.03 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
96.98 |
|
Bodies corporate |
|
0.22 |
|
Other top fifty shareholders |
|
0.83 |
|
Others |
|
1.93 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Hydraulic Systems/ Valves/
Pumps. |
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|
Products: |
|
PRODUCTION STATUS (AS ON : 31.12.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Hydraulic Equipments and Linear Motion Technology |
Nos. |
450000 |
352848 |
Notes:
(A)
Since licensing of
products of the Company has been discontinued, particulars of the licensed
capacity have not been furnished.
(B)
The Installed Capacity
has been certified by the Company’s management and relied upon by the Auditors,
this being a technical matter.
(C)
Production of Hydraulic
equipments excludes 65,122 Nos. (Previous Year : 77,498 Nos.) for captive use.
(D)
The company manufactures
spares, components etc., for use in the production of Hydraulic Systems as well
as for sale. As no portion of the production of such spares, components etc.,
is specifically for sales, the quantitative details of actual production is not
given.
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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|
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Bankers : |
Deutsche Bank, H S Marg, Mumbai - 400001, Maharashtra, India |
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|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai-400028,
Maharashtra, India |
|
PAN No.: |
AADFP9359C |
|
|
|
|
Holding Company : |
·
Bosch Rexroth AG, Germany |
|
|
|
|
Ultimate Holding Company : |
·
Robert Bosch GmbH, Germany |
|
|
|
|
Subsidiaries : |
·
MIVIN Engg. Technologies Private Limited, India CIN No.: - U29120KA2002PTC031230 |
|
|
|
|
Fellow Subsidiaries : |
· Bosch Limited, India · Bosch Rexroth S.p.A., Italy · Bosch Rexroth (China) Limited, China · Bosch Rexroth BV, Netherlands · Bosch Rexroth Filtration Systems GmbH, Germany · Bosch Thermotechnik GmbH, Germany · Robert Bosch Licensing Administration CV, Netherland · Bosch Rexroth Korea Limited, South Korea · Bosch Rexroth Ltda., Brazil · Bosch Rexroth Pte Limited., Singapore · Bosch Rexroth Oy, Finland · Bosch Rexroth Schweiz AG, Switzerland · Bosch Rexroth Sdn. Bhd., Malaysia · Bosch Rexroth Teknik AB, Sweden · PT. Bosch Rexroth, Indonesia · Shanghai Bosch Rexroth Hydraulics and Automation Limited, China · Bosch Automotive Electronics India Private Limited, India · Bosch Chassis Systems India Limited, India · Bosch Electrical Drives India Private Limited, India · Bosch Rexroth Mellansel AB, Sweden · Robert Bosch Engineering and Business Solutions Limited, India · Bosch Rexroth Corporation, USA · Bosch Rexroth DSI SAS, France · Bosch Rexroth Oil Control S.p.A., Italy · Bosch Rexroth Sp. z o. o., Poland · Bosch Rexroth Otomasyon San. ve., Turkey · Bosch Rexroth (Beijing) Hydraulics Company Limited, China · Bosch Rexroth Mechatronics Gmbh, Germany · Bosch Rexroth Beijing Hydraulics Company Limited, China · Bosch Rexroth Corporation, Japan · Bosch Rexroth A/S, Denmark · Bosch Rexroth Electric Drives and Controls (Xi'an) Company Limited, China · Bosch Rexroth Fluidtech SAS, France · Bosch Rexoth Limited, United Kingdom · Bosch Rexroth Company Limited, Taiwan · Dalian Rexroth Control Technology Limited, China · Bosch Rexroth (Changzhou) Company Limited, China · Bosch Rexroth Services BV, Netherland · Bosch (China) Investment Limited, China · Bosch India Foundation, India |
|
|
|
|
Entities where Key Management Personnel are able to exercise
significant influence : |
·
Bosch Rexroth Employees' Gratuity Trust Fund ·
Bosch Rexroth (India) Limited Superannuation Fund |
CAPITAL STRUCTURE
As on: 25.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19000000 |
Equity Shares |
Rs.10/- each |
Rs. 190.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6350920 |
Equity Shares |
Rs.10/- each |
Rs. 63.509 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
63.509 |
52.996 |
|
(b) Reserves & Surplus |
|
1883.969 |
1385.482 |
|
(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) |
|
1947.478 |
1438.478 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
1250.000 |
1250.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
273.996 |
231.565 |
|
(d) long-term
provisions |
|
92.275 |
73.656 |
|
Total Non-current
Liabilities (3) |
|
1616.271 |
1555.221 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1593.921 |
1585.460 |
|
(b)
Trade payables |
|
1305.040 |
1262.288 |
|
(c)
Other current liabilities |
|
0.000 |
0.000 |
|
(d) Short-term
provisions |
|
100.976 |
41.402 |
|
Total Current
Liabilities (4) |
|
2999.937 |
2889.150 |
|
|
|
|
|
|
TOTAL |
|
6563.686 |
5882.849 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1108.752 |
1100.023 |
|
(ii)
Intangible Assets |
|
1.393 |
9.737 |
|
(iii) Capital
work-in-progress |
|
2020.941 |
1283.385 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
|
54.557 |
45.642 |
|
(d) Long-term Loan and Advances |
|
189.950 |
242.636 |
|
(e) Other
Non-current assets |
|
3.738 |
3.182 |
|
Total Non-Current
Assets |
|
3379.331 |
2684.605 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1534.964 |
1262.682 |
|
(c)
Trade receivables |
|
1491.985 |
1805.386 |
|
(d) Cash
and cash equivalents |
|
66.136 |
44.171 |
|
(e)
Short-term loans and advances |
|
84.394 |
75.223 |
|
(f)
Other current assets |
|
6.876 |
10.782 |
|
Total Current
Assets |
|
3184.355 |
3198.244 |
|
|
|
|
|
|
TOTAL |
|
6563.686 |
5882.849 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
52.996 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1394.729 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1447.725 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
1500.000 |
|
|
TOTAL BORROWING |
|
|
1500.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2947.725 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1031.592 |
|
|
Capital work-in-progress |
|
|
585.804 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
13.919 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1004.753 |
|
|
Sundry Debtors |
|
|
1580.865 |
|
|
Cash & Bank Balances |
|
|
165.782 |
|
|
Other Current Assets |
|
|
0.410 |
|
|
Loans & Advances |
|
|
178.239 |
|
Total
Current Assets |
|
|
2930.049 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1264.933 |
|
|
Other Current Liabilities |
|
|
245.081 |
|
|
Provisions |
|
|
103.625 |
|
Total
Current Liabilities |
|
|
1613.639 |
|
|
Net Current Assets |
|
|
1316.410 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2947.725 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5969.681 |
6157.718 |
4871.119 |
|
|
|
Other Income |
12.142 |
16.847 |
75.298 |
|
|
|
TOTAL (A) |
5981.823 |
6174.565 |
4946.417 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1779.320 |
1932.127 |
|
|
|
|
Purchases of stock-in-trade |
2625.799 |
2667.169 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(345.661) |
(66.349) |
|
|
|
|
Employee benefit expense |
621.293 |
574.097 |
|
|
|
|
Other expenses |
713.773 |
707.969 |
|
|
|
|
TOTAL (B) |
5394.524 |
5815.013 |
4413.425 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
587.299 |
359.552 |
532.992 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
273.905 |
263.063 |
121.827 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
313.394 |
96.489 |
411.165 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
101.617 |
99.043 |
96.989 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
211.777 |
(2.554) |
314.176 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
79.128 |
6.692 |
119.397 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
132.649 |
(9.246) |
194.779 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1173.200 |
1182.446 |
987.667 |
|
|
|
|
|
|
|
|
|
Add |
ADJUSTMENT ON
AMALGAMATION |
85.680 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1391.529 |
1173.200 |
1182.446 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
20.89 |
(1.74) |
35.13 |
|
%20LIMITED%20-%20247570%2027-Dec-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
2.21 |
(0.15) |
3.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.55 |
(0.04) |
6.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.71 |
(0.06) |
7.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
(0.01) |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.47 |
1.97 |
1.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.11 |
1.82 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.12.2012 |
As on 31.12.2011 |
|
Long term
borrowings |
|
|
|
Term loans from banks |
1250.000 |
1250.000 |
|
|
|
|
|
Short term
borrowings |
|
|
|
Loans repayable on demand from banks |
93.420 |
85.460 |
|
Loans repayable on demand from others |
1500.000 |
1500.000 |
|
|
|
|
|
Total |
2843.420 |
2835.460 |
CASE DETAILS
HIGH
COURT OF GUJARAT
TAX
APPEAL No. 2085 of 2010 To TAX APPEAL No. 2086 of 2010
|
Status : PENDING
|
( Converted from
: ST/2601/2010 ) |
CCIN No :
001092201002085 |
|
Last Listing
Date: |
03/12/2013 |
|
Coram |
HONOURABLE MR.JUSTICE M.R. SHAH |
|
HONOURABLE MR.JUSTICE R.P.DHOLARIA |
|
S.NO. |
|
Advocate On
Record |
|
1 |
COMMISSIONER OF INCOME TAX - I |
MRS MAUNA M BHATT for: PETITIONER(s) 1 |
%20LIMITED%20-%20247570%2027-Dec-2013_files/image003.gif){kind=small}
|
S.NO. |
Name of the
Respondant |
Advocate On
Record |
|
1 |
BOSCH REXROTH (INDIA) LIMITED |
|
|
Presented On |
: 13/09/2010 |
Registered On |
: 13/09/2010 |
|
Bench Category |
: Division Bench |
District |
: Ahmedabad |
|
Case Originated
From |
: Through Advocate |
Listed |
: 180 times |
|
Stage Name |
: For Admission On Special Board |
||
|
Classification |
DB - Banking Matters - Baking Regulation Act,
1949 - Relating To Reserve Bank O India and Other Banks Under The Banking
Regulations Act And Other Banking Laws. |
|
|
Act |
Income-Tax Act, 1961 |
Court
Proceedings
|
S. No. |
Notified Date |
Court Code |
Stage |
Action |
Coram |
|
1 |
02/05/2011 |
10 |
FOR ADMISSION ON SPECIAL BOARD |
NEXT DATE |
HONOURABLE MR.JUSTICE AKIL KURESHI |
|
HONOURABLE MS JUSTICE SONIA GOKANI |
|||||
|
2 |
14/06/2011 |
10 |
FOR ADMISSION ON SPECIAL BOARD |
ANY OTHER MODE @ ADM.STAGE |
HONOURABLE MR.JUSTICE AKIL KURESHI |
|
HONOURABLE MS JUSTICE SONIA GOKANI |
|||||
|
3 |
30/11/2013 |
5 |
FOR FINAL HEARING |
NEXT DATE |
HONOURABLE MR.JUSTICE M.R. SHAH |
|
HONOURABLE MR.JUSTICE R.P.DHOLARIA |
|||||
|
4 |
03/12/2013 |
5 |
FOR FINAL HEARING |
DISMISSED @ F.H |
HONOURABLE MR.JUSTICE M.R. SHAH |
|
HONOURABLE MR.JUSTICE R.P.DHOLARIA |
Available
Orders
|
S. No. |
Case Details |
Judge Name |
Order Date |
CAV |
Judgement |
|
1 |
TAX APPEAL/2086/2010 |
HONOURABLE MR.JUSTICE AKIL KURESH |
14/06/2011 |
N |
N |
|
HONOURABLE MS JUSTICE SONIA GOKANI |
REVIEW OF OPERATIONS
For the year ended on 31st December, 2012, the Company has achieved Turnover of Rs. 5,969.680 million as against the Turnover of Rs.6,157.720 million during the previous year, representing decrease in Turnover of 3.05%. Result before Tax for the year was a profit of Rs. 211.780 million compared to a loss of Rs.2.550 million in the previous year, after considering exceptional and non-recurring items. Material costs as a percentage to sales decreased by 4.12% to 70.49%. Profit before interest, depreciation and taxes was 100.28% higher compared to previous year.
BUSINESS SITUATION
For Indian economy, the year 2012 started with weak notes and remained in that status throughout the year. The slowdown is not just confined to India. There has been a general slowdown in the global economy which has been passing through a rather prolonged phase of uncertainty. The slowdown has been all pervasive and almost all the sectors have been affected. The slowing growth rate in India can be explained in terms of both global factors and domestic factors. The growth rate of India’s exports declined. At the same time, however, the international price of crude oil remained high. India’s trade and current account deficit widened. Turning to domestic factors, rainfall in the monsoon season of 2012 has been below normal, particularly in the key months of June and July which affected sowing and resulted in lower growth rate of agriculture and allied sectors. However, due to backlog of previous year and synergies emerged out of merger of Hagglunds Drives (India) Private Limited with the company; we could manage to achieve our targets and to end up with profits. It is expected to grow further in future and has a positive outlook. Further infrastructure development, favorable government policies, and new investment in power projects, metals, oil and gas and petrochemical industries will lead to industrial and manufacturing growth which will boost growth in the engineering sector.
SANAND GREENFIELD
PROJECT
As informed to you in the Directors’ Report for the year ended on 31-12-2011, the Company has purchased industrial land at Sanand near Ahmedabad and construction work of new premises has been completed. The Company’s factory premises along with Registered and Corporate Office have been shifted from Near Vatva Railway Station, Vatva, Ahmedabad – 382 445 to Sanand Viramgam Highway, Mouje Iyava, Taluka Sanand, Dist. Ahmedabad 382 170 with effect from 5th March, 2013.
Note: No Charges
Exist for Company
FIXED ASSETS
·
Leasehold Land
·
Freehold Land
·
Roads
·
Building
·
Plant and Machinery
·
Electric Installations
·
Furniture and Fixtures
·
Computers
·
Software
·
Vehicles
·
Jigs and Fixtures
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. 61.98 |
|
|
1 |
Rs. 101.49 |
|
Euro |
1 |
Rs. 84.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
57 |
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.