MIRA
INFORM REPORT
|
Report Date : |
08.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANDVIK ASIA PRIVATE LIMITED [w.e.f. 15.03.2010] SANDVIK MINNING AND CONSTRUCTION TOOLS INDIA PRIVATE LIMITED
AMALGAMATED WITH SANDVIK ASIA PRIVATE LIMITED |
|
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Formerly Known
As : |
SANDVIK ASIA LIMITED |
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Registered
Office : |
Sandvik Coromant, Mumbai – |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
08.07.1960 |
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Com. Reg. No.: |
11-011751 |
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Capital Investment
/ Paid-up Capital : |
Rs.1149.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN1960PTC011751 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES00125G / PNES09024B |
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PAN No.: [Permanent Account No.] |
AACCS6638K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and
Trader of tungsten carbide tools, rock processing equipments, thermostatic electrical
bimetal strips, wires, ribbons, heating elements, cold finished tubes/pipes
and manufacturing of hot extruded seamless stainless steel tubes/pipes. |
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|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 21760000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of ‘Sandvik AB’, Sweden. It a well established
company having a fine track record. It has achieved some growth in its sales and profits during 2012. The
financial position of the company is good. Trade relations are reported as decent.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. NOTE: As claimed by Mr. Abhishek Shukla [Legal Department] that subject was
a private limited company with the name of “Sandvik Mining and Construction
Tools India Private Limited” and it was amalgamated with “Sandvik Asia
Private Limited” in 2009. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA (Long Term Rating) |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
22.01.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (short Term Rating) |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
22.01.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Abhishek Shukla |
|
Designation : |
Legal Department |
|
Contact No.: |
91-20-27104800 |
|
Date : |
08.07.2013 |
LOCATIONS
|
Registered Office : |
Sandvik Coromant, Mumbai – Pune Road, Dapodi, Pune–411012,
Maharashtra, India |
|
Tel. No.: |
91-20-27146800 / 27104800 / 725 |
|
Fax No.: |
91-20-27149370 / 27145022 / 736 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
Sales Office : |
Plot 49 and 49B, Sipcot Industrial Complex, Hosur – 635126, Tamilnadu,
India |
|
Tel No.: |
91-4344-403500/579 |
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Fax No.: |
91-4344-403520 |
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Factory : |
Located At: ·
Chiplun ·
Mehsana ·
Patancheru ·
Hosur ·
Pune |
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|
Branch Office : |
Located At : ·
Bangalore ·
Chennai ·
Gurgaon ·
Hyderabad ·
Kilkata ·
Patancheru |
DIRECTORS
AS ON 05.09.2012
|
Name : |
Mr. Suresh Narsappa Talwar |
|
Designation : |
Director |
|
Address : |
100000, Shiv Shanti Bhavan, 146, |
|
Date of Birth/Age : |
21.11.1937 |
|
Date of Appointment : |
29.03.1989 |
|
DIN No.: |
00001456 |
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|
|
|
Name : |
Mr. Ajitkumar Daulatrao Jadhav |
|
Designation : |
Director |
|
Address : |
409, Shakala, |
|
Date of Birth/Age : |
20.02.1947 |
|
Date of Appointment : |
29.09.2009 |
|
DIN No.: |
02071304 |
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|
|
|
Name : |
Mr. Olaf Bertil Faxander |
|
Designation : |
Director |
|
Address : |
Polismyndigheten I, Sweden, Stockholms Lan, Stockholms – 700519 |
|
Date of Birth/Age : |
19.05.1970 |
|
Date of Appointment : |
27.09.2011 |
|
DIN No.: |
03557497 |
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|
|
|
Name : |
Mr. Ajay Waman Sambrani |
|
Designation : |
Managing director |
|
Address : |
A6/426, Apartment, Gurudwara Road, Bodakdev, Ahemedabad – 380054,
Gujarat, India |
|
Date of Birth/Age : |
24.01.1966 |
|
Date of Appointment : |
27.09.2011 |
|
DIN No.: |
03630635 |
KEY EXECUTIVES
|
Name : |
Mr. Kirankumar Yashwantrai Acharya |
|
Designation : |
Secretary |
|
Address : |
2, Swikar Tenament, Drive In Road, Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
22.02.1961 |
|
Date of Appointment : |
25.05.2009 |
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PAN No.: |
AAJPA2208B |
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|
|
|
Name : |
Mr. Abhishek Shukla |
|
Designation : |
Legal Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.09.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Sandvik AB, Sweden |
1801241 |
|
Sandvik Finance BV, Sweden |
125000 |
|
Sandvik Far East Limited AB, Sweden |
1 |
|
Industri AB Skomab, Sweden |
1 |
|
Sandvik Invest AB, Sweden |
1 |
|
SETP Invest AB, Sweden |
1 |
|
AB Sandvik Teknik, Sweden |
1 |
|
|
|
|
TOTAL
|
1926246 |
|
Names of Preference Shareholders |
No. of Shares |
|
Sandvik AB, Sweden |
14229000 |
|
Sandvik Finance BV, Sweden |
73558700 |
|
|
|
|
TOTAL
|
87787700 |
|
Names of Preference Shareholders |
No. of Shares |
|
Sandvik Heating Technology AB, Sweden |
3144565 |
|
|
|
|
TOTAL
|
3144565 |
AS ON 05.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Trader of tungsten carbide tools, rock processing equipments, thermostatic
electrical bimetal strips, wires, ribbons, heating elements, cold finished tubes/pipes
and manufacturing of hot extruded seamless stainless steel tubes/pipes. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Tungsten Carbide
products including integral Rock Drill Steels, Bits, Detachable Bits, Extension
Drill Steel Equipments, Inserts Tips, Dies, Nibs and other applications |
Tonnes No’s in Millions |
258 |
258 |
12.00 |
|
Sandvik Coromant
Tools, Wear resisting Parts and similar products, mining and construction
tools |
No's in Millions |
1.48 |
1.48 |
1.46 |
|
Taps and solid carbide drills |
No's in Millions |
1.26 |
0.83 |
0.60 |
|
Hydrogen gas |
CU mtrs |
700000 |
700000 |
-- |
|
Cobalt Metal and Compounds |
Tones |
70 |
70 |
64.40 |
|
Thermostatic bimetal/strip |
Tones |
100 |
-- |
26.00 |
|
High resistance electrical wires, strips and ribbons |
Tones |
600 |
200 |
176.10 |
|
Bimetal components, Heating elements and terminal rods |
Nos. |
@ |
@ |
1332753 |
|
Hot extruded steel pipes |
Tones |
-- |
10000 |
6922.00 |
|
Recycling of inserts |
Tones |
750 |
750 |
461.80 |
@ There is no separate licensed and installed capacity.
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
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Bankers : |
·
The Hong Kong And Shanghai Banking Corporation
Limited, 52/60; ·
Citi Bank N A., 2413, Parmar House, ·
HSBC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
B S R and Company Chartered Accountant |
|
Address : |
1st Floor Lodha Excelus Apollo Mills Compound, N M Joshi
Marg, Mahalaxmi, Mumbai-400011, Maharashtra, India |
|
PAN No.: |
AAAFB9852F |
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|
|
|
Holding Company : |
·
Sandvik AB |
|
|
|
|
Subsidiaries : |
·
Sandvik Mining and Construction Tools India
Private Limited |
|
|
|
|
Fellow Subsidiaries : |
ARGENTINA ·
Sandvik Argentina S.A. AUSTRALIA ·
Sandvik Australia Pty Limited ·
Sandvik Mining and Construction Adelaide Ltd ·
Sandvik Mining and Construction Australia Pty
Limited AUSTRIA ·
Sandvik in Austria Ges.m.b.H. ·
Sandvik Mining and Construction G.m.b.H. ·
Sandvik Mining and Construction Materials Handling
GmbH BELGIUM ·
Sandvik Benelux B.V. BRAZIL ·
Sandvik do Brasil S.A. ·
Sandvik Materials Technology do Brasil S.A ·
Sandvik Mining and Construction do Brasil S.A. CANADA ·
Production Unit in North Bay ·
Sandvik Canada, Inc. ·
Sandvik Materials Technology Canada SU ·
Sandvik Mining and Construction Canada Inc. ·
Sandvik SMC Loaders Burlington CHILE ·
Sandvik Chile S.A. ·
Sandvik Mining and Construction Chile SA. CHINA ·
Sandvik (Qingdao) Limited ·
Sandvik Hongkong Limited ·
Sandvik International Trading (Shanghai) Company
Limited ·
Sandvik Materials Technology (China) Limited ·
Sandvik Mining and Construction (China) Company
Limited ·
Sandvik Mining and Construction Trading
(Shanghai) Company Limited ·
Sandvik Process Systems (Shanghai) Limited ·
Sandvik Sales and Trade (Shanghai) Company
Limited ·
Sandvik Tooling Production (Langfang) Company
Limited COLOMBIA ·
Sandvik Colombia S.A.S. CZECH REPUBLIC ·
Sandvik Chomutov Precision Tubes Spol. s.r.o. FINLAND ·
Sandvik Mining and Construction OY ·
SMC Hollola PU FRANCE ·
Gunther Tools S.A.S. ·
Sandvik Hard Materials S.A.S ·
Sandvik Materials Technology France S.A.S. ·
Sandvik Materials Technology Precitube ·
Sandvik Mining and Construction Chauny ·
Sandvik Mining and Construction France S.A.S. ·
Sandvik Mining and Construction Lyon S.A.S. GERMANY ·
Prototyp-Werke GmbH ·
Sandvik Materials Technology Deutschland GmbH, ·
ZN Sandvik P and P ·
Sandvik Materials Technology Deutschland GmbH, ·
ZN Sandvik Process Systems ·
Sandvik Materials Technology Deutschland GmbH, ·
ZN Sandvik Surface Solutions ·
Sandvik Mining and Construction Central Europe
GmbH ·
Sandvik Mining and Construction Crushing
Technology GmbH ·
Sandvik Mining and Construction Europe GmbH ·
Sandvik Tooling Deutschland GmbH ·
Sandvik Tooling Deutschland GmbH, BU Sandvik
Coromant ·
Sandvik Tooling Supply Schmalkalden, ·
Zweigniederlassung der Sandvik Tooling
Deutschland GmbH INDIA ·
Seco Tools ·
Walter Tools India Private Limited INDONESIA ·
P.T. Sandvik Indonesia IRELAND ·
Sandvik Mining and Construction Logistics Limited ITALY ·
Dormer Italia S.p.A. ·
Sandvik Italia S.p.A. JAPAN ·
Sandvik KK ·
Sandvik Tooling Supply Japan K.K. KOREA (SOUTH) ·
Sandvik Korea Limited ·
Sandvik Suhjun Limited MALAYSIA ·
Sandvik Malaysia Sdn Bhd ·
Sandvik Mining and Construction (M) Sdn Bhd MEXICO ·
Sandvik de Mexico S.A. de C.V. ·
Sandvik Mining and Construction de Mexico S.A. de
C.V. NEW ZEALAND ·
Sandvik New Zealand Limited NORWAY ·
Teeness ASA PERU ·
Sandvik del Peru S.A. PHILIPPINES ·
Sandvik Philippines Inc. RUSSIAN FEDERATION ·
Sandvik Mining and Construction CIS LLC SINGAPORE ·
Asia Pacific Distribution Center (APDC) ·
Sandvik Mining and Construction S.E.A. Pte.
Limited ·
Sandvik South East Asia Pte. Limited SOUTH AFRICA ·
Sandvik (Pty) Limited ·
Sandvik Mining and Construction Delmas Pty
Limited ·
Sandvik Mining and Construction RSA (Pty) Limited SPAIN ·
Sandvik Espanola S.A. SWEDEN ·
AB Sandvik Coromant ·
AB Sandvik Hard Materials ·
AB Sandvik Materials Technology ·
AB Sandvik Process Systems ·
Dormer Tools AB ·
Sandvik Besoks Service AB ·
Sandvik Heating Technology AB ·
Sandvik Intellectual Property AB ·
Sandvik IT Services AB ·
Sandvik Machining Solutions AB ·
Sandvik Machining Solutions Sverige AB ·
Sandvik Materials Technology EMEA AB ·
Sandvik Mining and Construction AB ·
Sandvik Mining and Construction Koping AB ·
Sandvik Mining and Construction Sverige AB ·
Sandvik Mining and Construction Tools AB ·
Sandvik SRP AB ·
Wire Sandviken AB SWITZERLAND ·
Santrade Limited TAIWAN ·
Sandvik Hard Materials Taiwan Limited ·
Sandvik Taiwan Limited THAILAND ·
Sandvik Thailand Limited TURKEY ·
Sandvik E.M.S. Ticaret A.S. UK ·
Dormer Tools Limited ·
Sandvik Bioline UK ·
Sandvik Coromant UK ·
Sandvik Medical Solutions - European Operations ·
Sandvik Mining and Construction Mobile Crushers ·
and Screens Limited ·
Sandvik Osprey Limited ·
Sandvik Saxon ·
Sandvik Tooling Supply GB ·
SHM Coventry UK ·
SHM Powder Production UK UNITED ARAB EMIRATES ·
Sandvik Middle East FZE UNITED STATES ·
ADC ( AMERICAN DISTRIBUTION CENTRE ·
Driltech Company ·
Sandvik Finance B.V. ·
Sandvik Hard Materials US ·
Sandvik Materials Technology Company ·
Sandvik MGT ·
Sandvik Mining and Construction USA LLC ·
Sandvik Palm Coast Production Unit ·
Sandvik Special Metals LLC ·
SHM US - PU ·
SMC Region USA / Canada ZAMBIA ·
Sandvik Mining and Construction Zambia Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.100/- each |
Rs. 200.000 Millions |
|
87788000 |
2% Redeemable Cumulative Preference Shares |
Rs.10/- each |
Rs. 878.000 Millions |
|
3145000 |
2% Redeemable Cumulative Preference Shares |
Rs.25/- each |
Rs. 78.000 Millions |
|
1232000 |
9% Redeemable Cumulative Preference Shares |
Rs.25/- each |
Rs. 31.000 Millions |
|
|
TOTAL |
|
Rs. 1187.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1926246 |
Equity Shares |
Rs.100/-
each |
Rs. 193.000
Millions |
|
87787700 |
2% Redeemable Cumulative Preference Shares |
Rs.10/- each |
Rs. 878.000 Millions |
|
3144565 |
2% Redeemable Cumulative Preference Shares |
Rs.25/- each |
Rs. 78.000 Millions |
|
|
TOTAL |
|
Rs. 1149.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1149.000 |
1149.000 |
|
(b) Reserves & Surplus |
|
4293.000 |
3634.000 |
|
(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) |
|
5442.000 |
4783.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
33.000 |
491.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
16.000 |
15.000 |
|
(d) long-term
provisions |
|
640.000 |
431.000 |
|
Total Non-current
Liabilities (3) |
|
689.000 |
937.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1818.000 |
814.000 |
|
(b)
Trade payables |
|
4044.000 |
3307.000 |
|
(c)
Other current liabilities |
|
1817.000 |
1053.000 |
|
(d) Short-term
provisions |
|
345.000 |
315.000 |
|
Total Current
Liabilities (4) |
|
8024.000 |
5489.000 |
|
|
|
|
|
|
TOTAL |
|
14155.000 |
11209.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
3093.000 |
2832.000 |
|
(ii)
Intangible Assets |
|
155.000 |
25.000 |
|
(iii)
Capital work-in-progress |
|
498.000 |
351.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
20.000 |
20.000 |
|
(c) Deferred tax
assets (net) |
|
457.000 |
391.000 |
|
(d) Long-term Loan and Advances |
|
397.000 |
411.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
4620.000 |
4030.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
4119.000 |
3277.000 |
|
(c)
Trade receivables |
|
3111.000 |
2357.000 |
|
(d) Cash
and cash equivalents |
|
418.000 |
371.000 |
|
(e)
Short-term loans and advances |
|
1376.000 |
880.000 |
|
(f)
Other current assets |
|
511.000 |
294.000 |
|
Total
Current Assets |
|
9535.000 |
7179.000 |
|
|
|
|
|
|
TOTAL |
|
14155.000 |
11209.000 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1149.116 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
3170.829 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
4319.945 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
457.668 |
|
|
2] Unsecured Loans |
|
|
1668.263 |
|
|
TOTAL BORROWING |
|
|
2125.931 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
6445.876 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
3115.442 |
|
|
Capital work-in-progress |
|
|
387.334 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
20.250 |
|
|
DEFERREX TAX ASSETS |
|
|
324.541 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2032.629
|
|
|
Sundry Debtors |
|
|
2140.258
|
|
|
Cash & Bank Balances |
|
|
192.280
|
|
|
Other Current Assets |
|
|
422.576
|
|
|
Loans & Advances |
|
|
1212.135
|
|
Total
Current Assets |
|
|
5999.878 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2155.101
|
|
|
Other Current Liabilities |
|
|
655.333
|
|
|
Provisions |
|
|
591.135
|
|
Total
Current Liabilities |
|
|
3401.569 |
|
|
Net Current Assets |
|
|
2598.309
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
6445.876 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
19486.000 |
14908.000 |
12344.072 |
|
|
|
Other Income |
NA |
NA |
0.000 |
|
|
|
TOTAL |
NA |
NA |
12344.072 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
11863.205 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
1560.000 |
1002.000 |
480.867 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
654.000 |
293.000 |
149.812 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
906.000 |
709.000 |
331.055 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3096.000 |
2704.000 |
2550.660 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
93.000 |
71.000 |
35.000 |
|
|
|
Preference Shares Dividend (including dividend distribution tax) |
22.000 |
22.000 |
22.307 |
|
|
|
Dividend on Equity Shares (including dividend distribution tax) |
224.000 |
224.000 |
120.063 |
|
|
BALANCE CARRIED
TO THE B/S |
3663.000 |
3096.000 |
2704.345 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
NA |
4456.971 |
|
|
|
Commission Earnings |
NA |
NA |
415.714 |
|
|
|
Other Earnings |
NA |
NA |
4.015 |
|
|
TOTAL EARNINGS |
NA |
NA |
4876.700 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
1984.976 |
|
|
|
Stores & Spares |
NA |
NA |
95.961 |
|
|
|
Capital Goods |
NA |
NA |
231.387 |
|
|
|
Traded Goods |
NA |
NA |
1890.681 |
|
|
TOTAL IMPORTS |
NA |
NA |
4203.005 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
470.34 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
2.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.01
|
6.72 |
3.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.84
|
9.59 |
5.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.21 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.34
|
0.27 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45
|
1.48 |
1.76 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
31.03.2010 [Rs. in millions] |
|
Sundry Creditors |
4044.000 |
3307.000 |
2155.101
|
|
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 |
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 |
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 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long-term
borrowings |
|
|
|
Loan from banks* |
33.000 |
0.000 |
|
Loans and advances from related parties** (External commercial borrowings from Sandvik AB) |
0.000 |
491.000 |
|
Short-term
borrowings |
|
|
|
Loans from banks |
1429.000 |
201.000 |
|
|
|
|
|
TOTAL |
1462.000 |
692.000 |
|
Notes * Terms of repayment
of loan from bank (Loan due for repayment on 8 July 2014) ** Terms of
repayment of loans from related parties (Loan due for repayment in two
installments of KUSD 6,000 on 29 June 2012 and KUSD 5,000 on 28 September
2012) |
||
BACKGROUND
Subject was
incorporated on 8 July 1960 under the Companies Act, 1956 as a subsidiary of
Sandvik AB. Sandvik AB is a body corporate registered in Swedenand having its
registered office in Sandviken. Sandvik Asia Private Limited has its primary
work location and registered office at Pune and additional manufacturing work
locations at Chiplun (Maharashtra), Mehsana (Gujarat), Patancheru (Andhra
Pradesh) and Hosur (Tamil Nadu) in India. The Company’s principal activities
comprise manufacturing and trading of tungsten carbide tools, rock processing
equipments, thermostatic electrical bimetal strips, wires, ribbons, heating
elements, cold finished tubes/pipes and manufacturing of hot extruded seamless
stainless steel tubes/pipes.
PROFITABILITY
Subject continues
to be a significant source of high quality products for the Sandvik Group.
During the year, the Company’s net sales amounted to 19486.000 Millions
compared to 14908.000 Millions in the year 2010-11. The profit before tax for
the year 2011-12 was 1559.000 Millions as against 1002.000 Millions in the
earlier year.
FIXED ASSETS:
·
Land
·
Office and
·
Plant and Machinery
·
Furniture and Fittings
·
Office Equipments
·
Vehicle
·
Technical Know How
·
Brand Rhino
·
Brand Widia
·
Goodwill
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.60.34 |
|
|
1 |
Rs.90.79 |
|
Euro |
1 |
Rs.77.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
62 |
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.