MIRA
INFORM REPORT
|
Report Date : |
27.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDO SCHOTTLE AUTO PARTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 387/389, Village Urawade, Taluka Mulshi, District
Pune – 412108, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
09.04.1985 |
|
|
|
|
Com. Reg. No.: |
11-035877 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.142.767 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300MH1985PTC035877 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI4592E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of Engine Valve Collets, Rocker Arm Screws, Turbo Charge
Components and Assemblies. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3520000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
The latest financials are not made available with the government department. As per previous year’s, the financial position of the company seems to
be strong. Liquidity position appears to be good. Trade relations are reported to be fair. Business is active. Payment
are reported to be usually correct and as per commitment. The company can be considered 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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village farming,
modern agriculture, handicrafts, a wide range of modern industries, and a
multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Loan = BBB+ |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of financial
obligation it carry moderate credit risk |
|
Date |
March 2012 |
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. Sameer |
|
Designation : |
Account Manager |
|
Contact No.: |
91-20-22923800 |
|
Date : |
23.02.2013 |
LOCATIONS
|
Registered Office / Factory 1 : |
Gat No. 378/387/389, Village Urawade, Taluka Mulshi, District Pune – 412108, Maharashtra, India |
|
Tel. No.: |
91-20-22922005/22922161/2922636/32540055/22923964/5/32540050/51/52 |
|
Fax No.: |
91-20-24104109/22929280/2922636/32540051/22923800/32540051/66740519 |
|
E-Mail : |
esgado@indoschottle.com vypathak@indoschottle.com pabhide@indoschottle.com |
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Domestic Plant: Gat No. 10731/6, Perangut, Village Urawade, Taluka Mulshi, Pune –
412108, Maharashtra, India |
|
Tel. No.: |
91-20-32540068/55 |
|
Fax No.: |
91-20-22933800 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Sez Plant: Plot No. 7 and 8, Quest Special Economic Zone, Hattargai and Belgaum –
560001, Karnataka, India |
|
|
|
|
Factory 4 : |
Belgaum Plant: Plot No. 84/C, S. No. 536, K.I.A.D.B Industrial Area Honga, |
|
Tel. No.: |
91-831-2414458 |
|
Fax No.: |
91-831-2414458 |
|
|
|
|
Correspondence Office : |
Office Club, 3rd Floor, Swaroop Complex, |
DIRECTORS
As on 24.08.2012
|
Name : |
Mr. Vijay Balkrishna Pusalkar |
|
Designation : |
Chairman and Managing Director |
|
Address : |
Plot No. 816, Lane No. 8, Sind Housing, Aundha, Pune - 411007, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1944 |
|
Qualification : |
B.Com Diploma in International Trade |
|
Experience : |
41 Years |
|
Date of Appointment : |
09.04.1985 |
|
DIN No.: |
00755575 |
|
|
|
|
Name : |
Mr. Wolfgang Schottle |
|
Designation : |
Director |
|
Address : |
MVI, Motorenteile, GMBH, Allenstresse, 70, 71679, Asperg Germany |
|
Date of Birth/Age : |
13.12.1940 |
|
Date of Appointment : |
31.12.1986 |
|
DIN No.: |
02799830 |
|
|
|
|
Name : |
Ms. Sunita Babasaheb Kalyani |
|
Designation : |
Director |
|
Address : |
221, A, Amit, Kalaninagar, Pune - 411 006, Maharashtra, India |
|
Date of Birth/Age : |
18.04.1951 |
|
Date of Appointment : |
09.09.2002 |
|
DIN No.: |
00089496 |
|
|
|
|
Name : |
Mr. Shishir Suresh Shirgaonkar |
|
Designation : |
Director |
|
Address : |
12, Kostaka House, 31 Patil Road, Bandra, Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
16.01.1945 |
|
Date of Appointment : |
13.12.1990 |
|
DIN No.: |
00166189 |
|
|
|
|
Name : |
Mr. Ashok Shreekrishna Behary |
|
Designation : |
Director |
|
Address : |
Bahar 25, Vishwamitra Colony, Gulmohor Path, Off Law College Road, Pune – 411 004, Maharashtra, India |
|
Date of Birth/Age : |
11.02.1947 |
|
Date of Appointment : |
29.04.2004 |
|
DIN No.: |
00637061 |
|
|
|
|
Name : |
Mr. Ajay Charuchandra Kirtane |
|
Designation : |
Director |
|
Address : |
Plot No.364, Lane No.17, Mahatma Co-operative Housing Society, Kothrud, Pune-411030, Maharashtra, India |
|
Date of Birth/Age : |
11.07.1967 |
|
Date of Appointment : |
27.06.2009 |
|
DIN No.: |
02711040 |
|
|
|
|
Name : |
Dr. Helmut Gerhard Wilhelm Binder |
|
Designation : |
Nominee director |
|
Address : |
Im Ilmut 1, Rebstein 9445 |
|
Date of Birth/Age : |
20.03.1950 |
|
Date of Appointment : |
12.04.2004 |
|
DIN No.: |
05239348 |
|
|
|
|
Name : |
Mr. Jens Breu |
|
Designation : |
Nominee director |
|
Address : |
Im Moos 4a, Luchingen 9450 |
|
Date of Birth/Age : |
08.06.1972 |
|
Date of Appointment : |
12.04.2004 |
|
DIN No.: |
05239354 |
|
|
|
|
Name : |
Mr. Anuj Ramesh Sah |
|
Designation : |
Alternate director |
|
Address : |
Khaitan and Company, 13th Floor, 1 Indibulls Centre, 841 Senapati Bapat Marg, Elphinston Road, Mumbai – 400013, Maharashtra, India |
|
Date of Birth/Age : |
22.06.1982 |
|
Date of Appointment : |
05.05.2012 |
|
DIN No.: |
05323410 |
KEY EXECUTIVES
|
Name : |
Mr. Sameer |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vijay Balkrishna Pusalkar |
|
2227243 |
|
Gautam Achyut Kulkarni |
|
1000 |
|
Alvaro Dacosta |
|
12500 |
|
Ajit Vasant Kher |
|
64733 |
|
Savita Shishir Shirgaokar |
|
5000 |
|
Babasaheb Nilkanth Kalyani |
|
120000 |
|
Ishwar S Siddanwar |
|
20000 |
|
Samardeep Subandh |
|
6700 |
|
Sanjay Vaidya |
|
2000 |
|
Rajendra Shah |
|
3000 |
|
Ajay Kirtane |
|
4000 |
|
Dilip Bhagwat |
|
1000 |
|
Shirish Erande |
|
2000 |
|
Ramchandra Soman |
|
2000 |
|
Shishir Shirgaokar |
|
6000 |
|
Ashok Beharay |
|
2000 |
|
Shrikrishna Inamdar |
|
1000 |
|
Vasant D. Kher |
|
4000 |
|
Shobha Siddanvar |
|
2000 |
|
Sunita Kalyani |
|
4000 |
|
Vandana Rahane |
|
1000 |
|
Shilpa Kher |
|
62767 |
|
Shantanu Pusalkar |
|
4000 |
|
Raghunath Deshpande |
|
6000 |
|
SFS Intec Holding AG, Switzerland |
|
2099407 |
|
Radha Sardesai J/w Kishore Sardesai |
|
2000 |
|
Total |
|
4665350 |
As on 24.08.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
45.00 |
|
Directors or relatives of Directors |
50.62 |
|
Other top fifty shareholders |
4.38 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Engine Valve Collets, Rocker Arm Screws, Turbo Charge
Components and Assemblies. |
|
|
|
|
Products : |
· Engine Valve Collets · Turbocharger Parts · Fuel System Parts · Cold Forging · Rocker Arm Screw ·
Fluid Power Assemblies |
|
|
|
|
Terms : |
|
|
Selling : |
L/C / Cash / Credit |
|
|
|
|
Purchasing : |
L/C / Cash / Credit |
GENERAL INFORMATION
|
Customers : |
End Users · Agro Match · Ashok Leyland · Atul · Avtec · Bajaj · Beml · Bosch · Elgi · Escorts · FIAT · Yamaha · John Deere · Force · Hero Honda · HMT · Greaves · Maruti Suzuki · New Holland · Piaggio · TVS |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· The Thane Janata Sahakari Bank Limited, C-2, Kohinoor Estate, Co-operative Housing Society, Plot No. 12, Mula Road, Sangamwadi, Pune – 411003, Maharashtra, India · Standard Chartered Bank, 90, M. G. Road, Fort, Mumbai – 400001, Maharashtra, India ·
Citi Bank, Citi Business, Citi Bank Centre,
2nd Floor, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra,
India ·
ICICI Bank Limited, Landmarkrace Cource Circle,
Alkapuri, Vadodara - 390015, Gujarat, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P G Bhagwath and Company Chartered Accountants |
|
Address : |
Suit No. 10-102, Orchard Dr. Pai Marg, Baner, Pune – 411045, |
|
PAN.: |
AAAFB0762E |
|
|
|
|
Subsidiaries : |
· Belgaum Motor Parts Private Limited CIN No.: U34300KA2002PTC030924 · Pusalkar Fluid Power Private Limited CIN No.:U27106PN2003PTC018693 · Pusalkar Schottle Exports Private Limited CIN No.:U51909MH1995PTC085815 |
CAPITAL STRUCTURE
As on 24.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4665350 |
Equity Shares |
Rs.10/- each |
Rs.46.654
Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 millions |
|
10000000 |
32% Optionally Convertible Cumulative Redeemable Preference Shares |
Rs. 10/- each |
Rs.100.000 millions |
|
|
Total |
|
Rs.175.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4276724 |
Equity Shares |
Rs.10/- each |
Rs.42.767 millions |
|
10000000 |
Preference Shares |
Rs.10/- each |
Rs.100.000 millions |
|
|
Total |
|
Rs.142.767 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
142.767 |
142.767 |
120.760 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
736.711 |
807.122 |
748.819 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
879.478 |
949.889 |
869.579 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
557.868 |
424.472 |
646.624 |
|
|
2] Unsecured Loans |
8.085 |
8.398 |
8.707 |
|
|
TOTAL BORROWING |
565.953 |
432.870 |
655.331 |
|
|
DEFERRED TAX LIABILITIES |
71.695 |
78.122 |
51.640 |
|
|
|
|
|
|
|
|
TOTAL |
1517.126 |
1460.881 |
1576.550 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1045.290 |
1061.321 |
839.049 |
|
|
Capital work-in-progress |
142.818 |
11.180 |
296.121 |
|
|
|
|
|
|
|
|
INVESTMENT |
16.990 |
17.240 |
17.240 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
308.503
|
239.886
|
309.932 |
|
|
Sundry Debtors |
286.832
|
232.637
|
158.420 |
|
|
Cash & Bank Balances |
61.770
|
32.133
|
44.857 |
|
|
Other Current Assets |
10.699
|
11.145
|
6.742 |
|
|
Loans & Advances |
22.313
|
31.502
|
20.600 |
|
Total
Current Assets |
690.117
|
547.303 |
540.551 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
82.507
|
90.882 |
36.678 |
|
|
Other Current Liabilities |
241.933
|
33.290
|
41.437 |
|
|
Provisions |
53.649
|
51.991
|
38.296 |
|
Total
Current Liabilities |
378.089
|
176.163 |
116.411 |
|
|
Net Current Assets |
312.028
|
371.140
|
424.140 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1517.126 |
1460.881 |
1576.550 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
|
Income |
1338.535 |
1004.930 |
941.736 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1338.535 |
1004.930 |
941.736 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
998.565 |
724.334 |
756.025 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
339.970 |
280.596 |
185.711 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
126.952 |
103.932 |
93.905 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
213.018 |
176.664 |
91.806 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
56.116 |
50.402 |
21.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
156.902 |
126.262 |
70.791 |
|
|
|
|
|
|
|
|
|
|
Prior Period
Items |
3.635 |
(4.154) |
0.647 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
261.467 |
195.235 |
162.552 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend on equity shares |
21.384 |
5.322 |
5.190 |
|
|
|
Dividend on preference shares |
16.000 |
32.000 |
21.831 |
|
|
|
Transfer to General Reserve |
16.054 |
12.211 |
7.144 |
|
|
|
Tax on Dividend |
6.064 |
6.343 |
4.592 |
|
|
BALANCE CARRIED
TO THE B/S |
362.502 |
261.467 |
195.235 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
33.19 |
19.92 |
20.95 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.72
|
12.56
|
7.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.27
|
10.98
|
6.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.18
|
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.64
|
0.46
|
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83
|
3.11
|
4.64 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Creditors due small micro enterprises |
3.878 |
|
36.678 |
|
Creditors due others |
78.629 |
90.882 |
|
|
Total |
82.507 |
90.882 |
36.678 |
|
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 |
No |
|
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
PERFORMANCE AND
FUTURE OUTLOOK
EOU: The Company, being the preferred supplier to several multinational companies, has fared well during the year. Demand for current products and assemblies increased and some new products were added during this year. They have received new RFQs (Request for Quotation) from their existing customers and some new multinational companies. Value wise these are large enquiries and can give us substantial growth possibilities for many years to come. The company hopes to conclude these agreements in the near future.
Domestic: The growth story with the Domestic customers continues and business for the forging area is improving month after month. The company plans to have a top line of INR 2000.000 millions by the year 2012-13. The company has concluded a wage agreement for 3.5 years starting from 1st August, 2010.
EXPANSION OF THE
ACTIVITIES (SEZ AND DOMESTIC)
The is expanding its activities through a SEZ and a Domestic
Plant in the city of
The construction at the SEZ will also commence shortly and hopefully production will start by the next fiscal. Products to be manufactured have been identified and planning is completed.
ASSOCIATE AND
SUBSIDIARY COMPANY
The investment in their associate company Belgaum Motor Parts Private Limited came to an end by our complete divestment in the month of December, 2010.
The subsidiary company Pusalkar Fluid Power Private Limited has done substantially better in the year 2010-2011 and has wiped off all its losses and generated a surplus. Their current year is also expected to be very good.
Contingent
Liabilities have not been provided for in respect of
a) Bills discounted with Banks amounting to Rs. NIL (Previous year Rs.48.421 millions)
b) The Company has imported certain machinery under Export Promotion Capital Goods (EPCG) Scheme and accordingly, has an export obligation of Rs.85.174 millions (previous year Rs.85.174 millions) against which the company has met the export obligation of Rs.85.174 millions (previous year Rs.71.862 millions). The customs duty under the EPCG Scheme in respect of the unexpired export obligation is Rs. NIL (Previous year Rs.1.664 millions).
c) Corporate Guarantee given by the company to the bankers of Pusalkar Fluid Power Private Limited Rs.48.050 millions (Previous Year Rs.48.050 millions) for availment of term loan and packing credit facilities.
Trade REFERENCES
· Ashok Leyland
· Greaves
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U34300MH1985PTC035877 |
|
Name of the
company |
INDO SCHOTTLE
AUTO PARTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gat No. 378/387/389, Village Urawade, Taluka Mulshi, District
Pune – 412 108, Email: orsoman@indoschottle.com |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10250293 |
|
Type of charge |
· Movable property (not being pledge) ·
Floating charge |
|
Particular of
charge holder |
Foreign Bank,
Onyx Tower,1st Floor, Near Westin Hotel, North Main Road, Koregaon
Park, Pune – 411001, Maharashtra, India |
|
Nature of instrument
creating charge |
Amendatory
Agreement. |
|
Date of
instrument Creating the charge |
21.08.2012 |
|
Amount secured by
the charge |
Rs.60.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest to be
charged at such rate/s as may be determined by the Bank from time to time. Terms of Repayment On demand. Margin As may be
stipulated by the Bank from time to time, Extent and Operation of the charge Loan Agreement dated
25.11.2010 is now amended as per Amendatory Agreement as under : (1) Drawdown
Date defined in Clause 1.1(a) of the Agreement shall mean the date as
Communicated by the Bank in writing to the Company (2) Amount sanctioned now
replaced as Rs.60.000 Millions, (3) Value Collateral now replaced as
Rs.104.600 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of all of the Company's movable fixed assets, both present and future, whether installed or not and whether lying loose or in transit being at the Company's |
|
Particulars of
the present modification |
In terms of
Amendatory Agreement dated 21.08.12, the charge shall now stand secured upto
Rs.60.000 Millions against the security of all the Borrower's movable fixed
assets |
Fixed Assets
·
Software
·
Freehold land
·
Buildings – leasehold
·
Plant and machinery
·
Office equipment
·
Furniture and fixtures
·
Vehicles
·
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 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.54.06 |
|
|
1 |
Rs.82.15 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.