MIRA
INFORM REPORT
|
Report Date : |
16.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNI KLINGER LIMITED |
|
|
|
|
Formerly Known
As : |
KLINGER ( |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
17.01.1983 |
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|
|
|
Com. Reg. No.: |
11-029134 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 43.560
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909MH1983PLC029134 |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Trader of Fluid Control and Fluid Sealing
Products. |
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|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and condition. |
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
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Sujit |
|
Designation : |
Senior Accounts Manager |
|
Contact No.: |
91-20-41023000 |
|
Date : |
13.02.2013 |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-22-22092095/ 22015711 |
|
Fax No.: |
91-22-22082113 |
|
E-Mail : |
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|
Website : |
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Corporate Office/ Factory : |
Gate No.1240, Village Vadu Budruk, Taluka Shirur, Koregaon Bhima, Pune
– 412216, |
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|
|
|
Central Sales Office : |
SC1 Kohinoor Estate, 5th Floor, Mumbai - Pune Highway,
Khadki, Pune – 411003, Maharashtra, India |
|
Tel No.: |
91-20-25823244/ 41023000 |
|
Fax No.: |
91-20-25817566 |
|
Email : |
|
|
Location : |
Owned |
|
|
|
|
Branch Offices : |
Located at: Ř Delhi Ř Baroda Ř Kolkata Ř Chennai |
DIRECTORS
AS ON 12.09.2012
|
Name : |
Mr. Dhunjishaw Maneckji Neterwala |
|
Designation : |
Director |
|
Address : |
16D, Il Palazzo,
Little Gibbs Road, Mumbai – 400004, Maharashtra, India |
|
Date of Birth/Age : |
10.11.1919 |
|
Date of Appointment : |
26.11.1987 |
|
Voter ID No.: |
MT/04/024/045842 |
|
DIN No.: |
00002513 |
|
|
|
|
Name : |
Mr. Thomas Klinger Lohr |
|
Designation : |
Director |
|
Address : |
Seoners Trasse 287,
CH 5704, Switzerland |
|
Date of Birth/Age : |
14.05.1948 |
|
Date of Appointment : |
17.01.1983 |
|
DIN No.: |
00680871 |
|
|
|
|
Name : |
Mr. Feroze Dhunjishaw Neterwala |
|
Designation : |
Director |
|
Address : |
16D, Il Palazzo,
Little Gibbs Road, Mumbai – 400004, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1952 |
|
Date of Appointment : |
26.11.1987 |
|
Voter ID No.: |
MT/04/024/045290 |
|
DIN No.: |
00008332 |
|
|
|
|
Name : |
Mr. Kavas Dara Patel |
|
Designation : |
Director |
|
Address : |
C 33, River
Nest, 311, North Main Road, Koregaon Park, Pune – 411001, Maharashtra,
India |
|
Date of Birth/Age : |
02.02.1947 |
|
Date of Appointment : |
02.12.2002 |
|
DIN No.: |
00002634 |
|
|
|
|
Name : |
Mr. Mohan Krishna Fondekar |
|
Designation : |
Director |
|
Address : |
B 505, Silver
Arch, Samata Nagar Road, Thane – 400606, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1945 |
|
Date of Appointment : |
26.11.1987 |
|
Voter ID No.: |
MT/10/053/04232283 |
|
DIN No.: |
01089689 |
|
|
|
|
Name : |
Mr. Keki Manchersha Elavia |
|
Designation : |
Director |
|
Address : |
2A Anand Bhavan,
36th Road, Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
04.09.1946 |
|
Date of Appointment : |
21.02.2003 |
|
Voter ID No.: |
MT/08/036/0322815 |
|
DIN No.: |
00003940 |
|
|
|
|
Name : |
Mr. Shobhan Madhukant Thakore |
|
Designation : |
Director |
|
Address : |
509, Cumballa
Crest, 42_A, G. Deshmukh Marg, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1947 |
|
Date of Appointment : |
29.09.2006 |
|
DIN No.: |
00031788 |
|
|
|
|
Name : |
Dr. Heinz Scharl |
|
Designation : |
Director |
|
Address : |
Waggerlgasse 10
Gerersdorf 3385, Austria |
|
Date of Birth/Age : |
26.11.1959 |
|
Date of Appointment : |
12.09.2012 |
|
DIN No.: |
05132375 |
KEY EXECUTIVES
|
Name : |
Mr. Sujit |
|
Designation : |
Senior Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Klinger Ag, Switzerland |
|
1742400 |
|
Dhunjishaw Manekshaw Neterwala Feroze Dhunjishaw Neterwala |
|
3331 |
|
Anosh Finance and Investment Private Limited, India |
|
58550 |
|
Universal Ferro and Allied Chemicals Limited, India |
|
403783 |
|
Chemicals and Ferro Alloy Private Limited, India |
|
529783 |
|
Sam Pirojshaw Motawara Dhunjishaw Manekshaw Neterwala Feroze Dhunjishaw Neterwala |
|
1 |
|
Mohan Krishna Fondekar Dhunjishaw Manekshaw Neterwala Feroze Dhunjishaw Neterwala |
|
1 |
|
Laxmidas Vassanji Gandhi Dhunjishaw Manekshaw Neterwala Feroze Dhunjishaw Neterwala |
|
1 |
|
Dhunjishaw Manekshaw Neterwala Feroze Dhunjishaw Neterwala |
|
29400 |
|
Feroze Dhunjishaw Neterwala Shernaz Firoze Vakil |
|
29400 |
|
Pervin Rustom Mehta Feroze Dhunjishaw Neterwala |
|
29400 |
|
Shernaz Firoze Vakil Pervin Rustom Mehta |
|
29400 |
|
Dhunjishaw Manekshaw Neterwala |
|
550 |
|
Uni Deritend Limited, India |
|
1500000 |
|
Total |
|
4356000 |
AS ON 12.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
40.00 |
|
Bodies
corporate |
|
57.21 |
|
Directors
or relatives of directors |
|
2.79 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Fluid Control and Fluid Sealing
Products. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Class of Goods |
|
|
|
|
Valves |
Nos. |
9000 |
39,943 |
|
Other Fluid Control Products |
Nos. |
20000 |
24,945 |
|
Fluid Sealing Products |
M.T. |
1500 |
**1077.92 |
|
Cut Gaskets |
Nos. |
-- |
886,999 |
|
Spiral Wound Rings |
Nos. |
-- |
130,533 |
** Excludes Captive Consumption 88.53 MT
(42.797MT)
GENERAL INFORMATION
|
Suppliers : |
Ř Uni Abex Alloy Products Limited Ř Uni Deritend
Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
End Users Ř Rich Klinger S.A.A.C.I.Y.F - Argentina Ř Dai
Ichi Karkaria Limited |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
Ř HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai -
400013, Maharashtra, India (Tel No.: 91-22-66521308) Ř ING Vysya Bank
Limited - 928, Mantri Centre, F. C. Road, Pune – 411004, Maharashtra, India
(Tel No.: 9120-25678247) |
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Facilities : |
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Jagtiani and Naik Chartered Accountants |
|
Address : |
12-13, Esplanade, 3rd Floor, Amrit Keshav Nayak Marg, Fort, Mumbai – 400001,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFJ0344C |
|
|
|
|
Promoter group
company : |
Ř Klinger Ag. Zug. Ř Uni Deritend Limited Ř Universal Ferro and Allied
Chemicals Limited Ř Chemical Ferro and Alloys Limited |
|
|
|
|
Associates : |
Ř Neterwala Consulting and Corporate
Services Limited Ř Neterson Technologies Private
Limited Ř Netel (India) Limited Ř Dai-ichi Karkaria Limited Ř Uni Abex Alloy Products Limited Ř Anosh Finance and Investment
Limited Ř Oilfield Instrumentation (India)
Private Limited Ř Rich Klinger S.A.A.C.I.Y.F -
Argentina Ř SDN Company |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,356,000 |
Equity Shares |
Rs. 10/- each |
Rs. 43.560
Millions |
|
|
|
|
|
The Company has one class of Equity Shares having a par value
of Rs.10/- per share. Each equity shareholder is eligible for one vote per
share held. Each equity shareholder is entitled to dividends as and when the
company declares and pays dividend after obtaining shareholders approval.
Details of
shareholders holding more than 5% in the Company
|
Name of
Shareholders |
31.03.2012 |
|
|
Equity
Shares of Rs. 10/- each fully paid up |
No. of Shares |
% |
|
Klinger AG |
1,742,400 |
40.00% |
|
Uni Deritend
Limited |
1,500,000 |
34.44% |
|
Chemical and
Ferro Alloys Limited |
529,783 |
12.16% |
|
Universal
Ferro and Allied Chemicals Limited |
403,783 |
9.27% |
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 |
43.560 |
43.560 |
43.560 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
281.655 |
211.414 |
173.226 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
325.215 |
254.974 |
216.786 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
81.081 |
68.594 |
43.527 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
81.081 |
68.594 |
43.527 |
|
|
DEFERRED TAX LIABILITIES |
7.235 |
6.149 |
8.618 |
|
|
DEFERRED PAYMENT CREDIT |
0.000 |
0.000 |
1.453 |
|
|
|
|
|
|
|
|
TOTAL |
413.531 |
329.717 |
270.384 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
121.800 |
123.746 |
127.935 |
|
|
Capital work-in-progress |
1.442 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
16.848 |
6.500 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
134.220
|
124.337 |
89.141 |
|
|
Sundry Debtors |
167.029
|
128.747 |
101.256 |
|
|
Cash & Bank Balances |
52.539
|
13.293 |
3.018 |
|
|
Other Current Assets |
3.625
|
1.531 |
4.371 |
|
|
Loans & Advances |
26.488
|
16.702 |
14.522 |
|
Total
Current Assets |
383.901
|
284.610 |
212.308 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
53.398
|
49.488 |
38.925 |
|
|
Other Current Liabilities |
21.420
|
18.925 |
21.770 |
|
|
Provisions |
35.642
|
16.726 |
9.164 |
|
Total
Current Liabilities |
110.460
|
85.139 |
69.859 |
|
|
Net Current Assets |
273.441
|
199.471 |
142.449 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
413.531 |
329.717 |
270.384 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
620.342 |
476.372 |
391.511 |
|
|
|
Other Income |
6.151 |
1.063 |
3.258 |
|
|
|
TOTAL (A) |
626.493 |
477.435 |
394.769 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
244.263 |
225.073 |
165.306 |
|
|
|
Purchase of stock-in-trade |
1.763 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-process and
stock-in-trade |
(2.449) |
(24.733) |
16.453 |
|
|
|
Employee benefit expenses |
73.606 |
59.900 |
58.055 |
|
|
|
Other expenses |
153.817 |
125.914 |
102.819 |
|
|
|
TOTAL (B) |
471.000 |
386.154 |
342.633 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
155.493 |
91.281 |
52.136 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.512 |
7.001 |
8.486 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
146.981 |
84.280 |
43.650 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.432 |
16.048 |
20.973 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
132.549 |
68.232 |
22.677 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
47.121 |
22.449 |
7.722 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
85.428 |
45.783 |
14.955 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
27.495 |
22.806 |
14.430 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
70.000 |
33.500 |
1.500 |
|
|
|
Proposed Dividend |
13.068 |
6.534 |
4.356 |
|
|
|
Tax on Dividend |
2.120 |
1.060 |
0.723 |
|
|
BALANCE CARRIED
TO THE B/S |
27.735 |
27.495 |
22.806 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Difference In Exchange (Net) |
1.387 |
0.000 |
|
|
|
|
F.O.B. Value of Goods Exported |
121.599 |
67.087 |
|
|
|
TOTAL EARNINGS |
122.986 |
67.087 |
N.A. |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
60.421 |
55.631 |
|
|
|
|
Capital Goods |
4.991 |
5.784 |
|
|
|
TOTAL IMPORTS |
65.412 |
61.415 |
N.A. |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.61 |
10.51 |
3.43 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
13.64
|
9.59 |
3.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
21.37
|
14.32 |
5.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.21
|
16.71 |
6.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41
|
0.27 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.25
|
0.27 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.48
|
3.34 |
3.04 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Trade Payables |
51.084 |
48.570 |
38.925 |
|
Dues to Micro, Small and Medium Enterprises |
2.314 |
0.918 |
0.000 |
|
Total |
53.398 |
49.488 |
38.925 |
According to information available with the management, on
the basis of intimation received from the suppliers regarding their status under
Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act), the
company has amount due to Micro and Small Enterprises under the said Act as at
31st March, 2012 as follows:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Principal amount remaining unpaid to any supplier as on
31st March, 2012 |
2.314 |
0.918 |
|
Interest on above |
-- |
-- |
|
The amount of principal paid beyond the appointed date |
-- |
-- |
|
Interest on above |
-- |
-- |
|
The amount of Interest due and payable on delayed payments |
-- |
-- |
|
Amount of interest accrued and due as at 31st March, 2012 |
-- |
-- |
|
Total Outstanding dues of micro enterprises and small
enterprises |
2.314 |
0.918 |
|
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 |
Yes |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
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 |
Yes |
|
34] |
External Agency Rating,
if available |
No |
COMPANY
PERFORMANCE
The performance of
the Fluid Control Division and Fluid Sealing Division has significantly
improved over that of 2011-12, both for domestic and export sales. The overall sales
at Rs. 620.342 Millions were higher than that of the previous financial year by
30.22% with domestic sales registering an increase of 21.53% and an export
growth of 90.42%. Operational profits are higher by about 70%.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U31909MH1983PLC029134 |
|
Name of the
company |
UNI KLINGER
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Liberty Building, 2nd Floor, Sir Vithaldas Thackersay Marg,
Mumbai – 400020, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
(West), Mumbai - 400013, Maharashtra, India Email: akshit.gupta@hdfcbank.com CIN No.:
L65920MH1994PLC080618 |
|
Nature of
description of the instrument creating or modifying the charge |
Letter of
hypothecation of first and exclusive charge on stocks, book debts and
machinery dated 21st December, 2012. |
|
Date of
instrument Creating the charge |
21.12.2012 |
|
Amount secured by
the charge |
Rs. 150.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC-Bank's Base
Rate+170 BPS,TL-Bank's Base Rate+195 BPS,EPC same As CC, PCFC -LIBOR, Foreign
Usance Bills DISC -Same As CC, Terms of Repayment CC- On Demand WCDL- Principal
Amount To Be Repaid As Bullet Payment On Maturity Date Margin CC - 25% On
Inventory and Book Debts TL - 25% On Total
Project Cost BG- 7.5%
Financial Guarantees and Performance Guaranee EPC/PCFC- 10% FOB
value / 15% CIF value Extent and Operation of the charge First exclusive
charge on entire stocks both present and future, All book debts
and entire movable plant and machinery both present and future. |
|
Short particulars
of the property charged |
As mentioned in
letter of hypothecation of stocks, book debts and machinery dated 21st
December, 2012. |
TRADE REFERENCES:
Ř Rich Klinger S.A.A.C.I.Y.F -
Argentina
Ř
Dai Ichi Karkaria Limited
Ř Uni Abex Alloy Products Limited
Ř Uni Deritend
Limited
CONTINGENT LIABILITIES:
i) Guarantees given by a Bank Rs. 13.018 Millions (Rs. 4.940
Millions)
ii) Bills accepted Rs. NIL (Rs. 2.197 Millions)
iii) Claims against the Company not acknowledged as debts:
a) Income Tax demand disputed in appeal / rectification is
Rs. 1.033 Millions (Rs. 1.682 Millions) out of which Rs. 0.177 Million (Rs.
0.632 Million) is paid by the company and shown under the head "Short term
Loans and Advances" as Receivable from statutory/ government authorities.
b) Demands aggregating to Rs. 4.398 Millions (Rs. 0.177
Million) in respect of alleged nonpayment of Tax Deducted at Source under the
Income Tax Act for which appeals and revised returns have been submitted to the
tax authorities
c) Claims by certain contractual personnel for granting of
the status and benefits of permanency to them with all consequential benefits
in respect of which writ petitions have been filed in the High Court. Amount of
possible liability not ascertained.
FIXED ASSETS:
Ř Freehold Land
Ř Leasehold Land
Ř Buildings
Ř Plant and
Machinery
Ř Electrical
Equipment and Installation
Ř Computer Software
Ř Furniture and
Fixture
Ř Office Equipments
Ř Vehicles
Ř Computers
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. 53.99 |
|
|
1 |
Rs. 83.72 |
|
Euro |
1 |
Rs. 72.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
TOTAL |
|
50 |
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.