MIRA
INFORM REPORT
|
Report Date : |
13.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIGMA ELECTRIC MANUFACTURING CORPORATION PRIVATE LIMITED [w.e.f.
18.06.2013] |
|
|
|
|
Formerly Known
As : |
SEMCO ELECTRIC PRIVATE LIMITED SAGE ELECTRICAL MANUFACTURING COMPANY PRIVATE LIMITED |
|
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Registered
Office : |
Gate No.154/1 Mahalunge Village,
Post Chakan, Pune-410501, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
19.08.1996 |
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|
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Com. Reg. No.: |
11-101929 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.18.434
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909PN1996PTC101929 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES09380A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADC39493H |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter Electrical Components and Equipments. |
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|
No. of Employees
: |
1200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 12940000 |
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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 well established and a reputed company having a fine track
record. There appears some dip in the profits during 2012. However the
financial position of the company appears to be sound. Directors are reported to be experienced and respectable businessmen.
Trade relations are reported as trustworthy. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A+ [Long Term Bank Facilities] |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
January 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A1+ [Short Term Bank Facilities] |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
January 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 PARTED BY
|
Name : |
Mr. Narang |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-2135-307150 |
|
Date : |
12.07.2013 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Gate No.154/1 Mahalunge
Village, Post Chakan, Pune-410501, Maharashtra India |
|
Tel. No.: |
91-2135-307100 |
|
Fax No.: |
91-2135-307111 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Headquarters: |
120 Sigma Drive, Garner, NC 27529, USA |
|
Tel No.: |
+1 919 773 0011 |
|
Fax No.: |
+ 1 919 773 0381 |
|
|
|
|
Factory 2 : |
Plant II, Plot No. A-2, MIDC, Chakan, Talegaon Road, Pune-410501,
Maharashtra, India |
|
Area : |
5000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factor 3 : |
A-134, Road No. 12, V.K.I. Area, Jaipur-302013, Rajasthan, India |
|
Tel. No.: |
91-414-2332833 |
|
Fax No.: |
91-414-2331408 |
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|
|
|
Branch Office : |
JAIPUR Ultratech Metals India Private Limited A-134, Road No.12, V.K. Industrial Area, Jaipur-302013, Rajasthan,
India Tel No: 91-141-2332833 Fax No: 91-141-2331408 E-Mail: business@semco.co.in USA Sigma Electric Mfg. Corp. Tel No: + 1 919 7730011 Fax No: + 1 919 773038 E-Mail: business@semco.co.in UNITED KINGDOM Liaison Office Worldwide Materials Limited Tel No: + 44 (0) 121 308 6983 Mobile No: + 44 07940 808412 E-Mail: nh@worldwidematerials.co.uk |
DIRECTORS
AS ON 29.05.2013
|
Name : |
Mr. Shreekant Vinayak Rohankhedkar |
|
Designation : |
Director |
|
Address : |
D/2, Madhuban |
|
Date of Birth/Age : |
02.03.1948 |
|
Qualification: |
B.E |
|
Date of Appointment : |
12.01.2008 |
|
Din No.: |
02031477 |
|
|
|
|
Name : |
Mr. Vishal Kamalnain Bakshi |
|
Designation : |
Director |
|
Address : |
504 B, Bakhtavar Building, Opposite Colaba P. O., Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
12.08.1971 |
|
Date of Appointment : |
25.06.2008 |
|
Din No.: |
02203108 |
|
|
|
|
Name : |
Mr. Shantanu Bhalchandra Gote |
|
Designation : |
Director |
|
Address : |
Flat B-16, SN 362 (Part), Rohan Parthana Kothrud, Pune-411029, |
|
Date of Birth/Age : |
05.07.1966 |
|
Date of Appointment : |
28.07.2010 |
|
Din No.: |
02858070 |
|
|
|
|
Name : |
Mr. Viren Ajit Joshi |
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Designation : |
Director |
|
Address : |
Odyssey 2, Flat No. 2201, 22nd Floor, Hiranandani Gardens,
Powai, Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
10.03.1954 |
|
Date of Appointment : |
18.06.2012 |
|
Din No.: |
01331107 |
KEY EXECUTIVES
|
Name : |
Mr. |
|
Designation : |
Company Secretary |
|
Address : |
Plot No. 163, Ring Road 2, Manohar Nagar Talegaon,
Pune-410507, |
|
Date of Birth/Age : |
07.02.1965 |
|
Date of Appointment : |
15.07.2010 |
|
Pan No.: |
AGVPB9341A |
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|
|
|
Name : |
Mr. Narang |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.05.2013
|
Names of Shareholders |
|
No. of Shares |
|
GSCP Sigma (LUX) S.A.R.L., Luxembourg Nominee of Sigma Electric
Holding Formerly Known as Semco Holding INC. |
|
1 |
|
Sigma Electric Holding Formerly Known as Semco Holding
INC. |
|
1843426 |
|
|
|
|
|
TOTAL
|
|
1843427 |
AS ON 29.05.2013
|
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] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporter Electrical Components and Equipments |
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Products : |
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Exports : |
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Products : |
Electrical Components and Equipments |
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Countries : |
·
US ·
Europe ·
Brazil |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
Taiwan ·
Italy ·
US ·
China ·
Korea |
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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 |
31.03.2011 |
|
Installed Capacity* |
26100 |
|
Actual Production |
16011 |
* As certified by the Management and accepted by
the auditors, this being a technical matter.
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
1200 (Approximately) |
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Bankers : |
· ICICI Bank Limited, Landmark Race Course Circle, Alkapuri, Baroda-390015, Gujarat, India · State Bank of India, Tara Chambers, Wakdewadi, Pune-411003, Maharashtra, India · Corporation Bank, Aditi Commerce Center H 2406, Gen Thimmayya Road, East Street, Camp Pune-411001, Maharashtra, India · Axis Bank Limited, Stealing Plaza, Plot No.126/B Jangali Maharaj Road, Near Deccan Gymkhana Pune-411004, Maharashtra, India · IDBI Bank, IDBI House, Dnyneshwar Paduka Chowk, Fergusson Collage Road, Pune-411004, Maharashtra, India · ICICI Bank, Landmark, Race Course Circle, Vodadara-390007, Gujarat, India |
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Facilities : |
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Banking Relations
: |
-- |
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|
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Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
‘Muttha Towers’, 5th Floor, Suite No.8, Airport Road, Yerwada, Pune-411006, Maharashtra, India. |
|
PAN No: |
AADFP9359C |
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|
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|
Holding Company : |
Sigma Electric Holding [Formerly Known as Semco Holding INC. Mauritius] |
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|
|
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Fellow Subsidiary : |
Sigma Electric Corporation, USA |
|
|
|
|
Associates/Subsidiaries : |
·
Sigma
Electric Manufacturing Corporation 120 Sigma Drive, Garner, NC 27529, United States Website : http://www.sigmaelectric.com ·
Ultratech
Metals India Private Limited (Formerly Ultrateh Metals ( A-134, Road No. 12, VKI Area, Jaipur - 302013 (Rajasthan),
Tel No.: 91-141-2332833 Fax No.:91-141-2331408 Email: business@semco.co.in CIN No: U27320RJ1989PTC004961 |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1843427 |
Equity Shares |
Rs.10/- each
|
Rs.18.434
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 |
|
18.400 |
18.400 |
|
(b) Reserves & Surplus |
|
3216.800 |
2889.600 |
|
(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) |
|
3235.200 |
2908.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
5.900 |
3.100 |
|
(d) long-term
provisions |
|
36.500 |
30.400 |
|
Total Non-current
Liabilities (3) |
|
42.400 |
33.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
218.000 |
185.800 |
|
(b)
Trade payables |
|
487.400 |
330.300 |
|
(c)
Other current liabilities |
|
155.400 |
108.600 |
|
(d) Short-term
provisions |
|
5.600 |
4.000 |
|
Total Current
Liabilities (4) |
|
866.400 |
628.700 |
|
|
|
|
|
|
TOTAL |
|
4144.000 |
3570.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
950.700 |
791.900 |
|
(ii)
Intangible Assets |
|
11.700 |
12.100 |
|
(iii)
Capital work-in-progress |
|
457.800 |
177.200 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
|
57.200 |
59.700 |
|
(d) Long-term Loan and Advances |
|
99.900 |
135.500 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1577.300 |
1176.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
632.800 |
515.600 |
|
(c)
Trade receivables |
|
1447.900 |
1447.600 |
|
(d) Cash
and cash equivalents |
|
217.300 |
291.800 |
|
(e)
Short-term loans and advances |
|
268.300 |
136.500 |
|
(f)
Other current assets |
|
0.400 |
2.300 |
|
Total
Current Assets |
|
2566.700 |
2393.800 |
|
|
|
|
|
|
TOTAL |
|
4144.000 |
3570.200 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
18.434 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2239.906 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2258.340 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
195.391 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
195.391 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2453.731 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
762.070 |
|
|
Capital work-in-progress |
|
|
95.704 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
52.271 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
456.567
|
|
|
Sundry Debtors |
|
|
984.057
|
|
|
Cash & Bank Balances |
|
|
177.001
|
|
|
Other Current Assets |
|
|
1.656
|
|
|
Loans & Advances |
|
|
241.062
|
|
Total
Current Assets |
|
|
1860.343 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
195.914
|
|
|
Other Current Liabilities |
|
|
93.537
|
|
|
Provisions |
|
|
27.206
|
|
Total
Current Liabilities |
|
|
316.657
|
|
|
Net Current Assets |
|
|
1543.686
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2453.731 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4568.700 |
4196.200 |
2751.227 |
|
|
|
Other Income |
NA |
NA |
19.960 |
|
|
|
TOTAL (A) |
NA |
NA |
2771.187 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
|
|
1663.709 |
|
|
|
Operating and other Expenses |
|
|
771.317 |
|
|
|
Prior Period Expenses |
|
|
0.000 |
|
|
|
TOTAL (B) |
NA |
NA |
2435.026 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
336.161 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
6.071 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
330.090 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
180.872 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
516.700 |
836.300 |
149.218 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
156.600 |
170.000 |
23.628 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
360.100 |
666.300 |
125.590 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2880.900 |
2214.600 |
2089.003 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
3241.000 |
2880.900 |
2214.593 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
4346.000 |
3917.400 |
2641.251 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1840.100 |
1888.500 |
1181.675 |
|
|
|
Capital Goods |
167.600 |
71.300 |
15.593 |
|
|
TOTAL IMPORTS |
2007.700 |
1959.800 |
1197.268 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
195.34 |
361.45 |
68.13 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover [Approximately] |
|
|
5700.000 |
Expected Sales (2013-14) : Rs.6000.000 Millions.
The above information has been parted by Mr. Narang.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
4.53
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.31
|
19.93 |
5.42
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.23
|
25.09 |
5.69
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.29 |
0.07
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.07
|
0.06 |
0.09
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.96
|
3.81 |
5.87
|
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 |
487.400 |
330.300 |
195.914
|
|
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 |
Yes |
|
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 |
Yes |
|
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) |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS:
During the year, the
sales in terms of volume and revenue have grown over last year, top-line during
the year stood at Rs.4568.700 Millions, representing a growth of 9 % as
compared to the previous year. During the year the Company has earned 360.100
Millions (post tax) as against Rs. 666.300 Millions in previous year,
represents a decrease of 46% compared to the previous year. Previous year
profit includes profit of Rs 402.600 Millions from sale of idle land in Pune.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10018049 |
|
Corporate
identity number of the company |
U31909PN1996PTC101929 |
|
Name of the
company |
SEMCO ELECTRIC
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Gate No.154/1 Mahalunge
Village, Post Chakan, Pune-410501, Maharashtra India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Immovable
Property Any interest in immovable property |
|
Particular of
charge holder |
ICICI Bank Limited, Landmark Race Course Circle, Alkapuri, Baroda-390015, Gujarat, India |
|
Nature of
description of the instrument creating or modifying the charge |
Joint Mortgage by
deposit of title deeds in respect of Immovable properties dated 20.01.2012. Hypothecation of Movable
properties vide Second Supplemental Joint Deed of hypothecation dated
20.01.2012. |
|
Date of
instrument Creating the charge |
20.01.2012 |
|
Amount secured by
the charge |
Rs.1150.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Second
Supplemental Working Capital Consortium Agreement dated 20.01.2012. Terms of Repayment As per Second
Supplemental Working Capital Consortium Agreement dated 20.01.2012. Margin As per Second
Supplemental Working Capital Consortium Agreement dated 20.01.2012. Extent and Operation of the charge First charge on
current assets and movable and immovable properties Others ICICI Bank is
designated as the Lead bank of the ICICI Bank consortium consisting of ICICI
Bank, State Bank of India, IDBI Bank and the Hong Kong and Shanghai Banking
Corporation Limited. |
|
Short particulars
of the property charged |
All that piece
and parcel of land bearing Gat No. 154/1, at Village Mahalunge, Taluka Khed,
District Pune All that piece
and parcel of land bearing Gat No. 155, at Village Mahalunge, Taluka Khed,
District Pune All that piece
and parcel of land bearing Plot No. A- 2 in the Chakan Industrial Area, Village
Mahalunge, Sub- District Khed, District Pune All that piece
and parcel of land bearing Plot No.-B-27, in the Chakan Industrial Area,
Village Mahalunge, Sub- District Khed, District Pune All current and
movable assets of the company both present and future. |
|
Date of latest
modification prior to the present modification |
12.06.2009 |
|
Particulars of
the present modification |
Increase of
sanction limit from Rs. 1010.000 Millions to Rs.1150.000 Millions. All
consequential change in documentation has been attached with the form. |
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2012 (Rs.
in millions) |
31.03.2011 (Rs.
in millions) |
|
Claims against
the company not acknowledged as debt: |
|
|
|
Income tax matters* * In addition to above, the company has received a draft assessment
order u/s 143 (3) read with section 144C of the Income Tax Act, 1961
proposing adjustments to income retuned by the company by Rs.197.500
Millions, the tax impact of which could range upto Rs.67.100 Millions. The
company has filed objections with the Dispute Resolution Panel which are yet
to be heard and only post this hearing a demand may potentially be raised.
Pending hearing before the Dispute Resolution Panel, the management is of the
opinion that the said amount is not payable. |
19.200 |
18.400 |
|
Excise and customs matters |
5.800 |
5.800 |
|
Other matters |
1.800 |
4.000 |
|
TOTAL
|
26.800 |
28.200 |
FIXED ASSETS:
·
Plant and Machinery
·
Freehold Land
·
Leasehold Land
·
Factory Building
·
Other Building
·
Dies
·
Office Equipment
·
Furniture and Fittings
·
Vehicles
·
Computer Software
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.59.90 |
|
|
1 |
Rs.90.88 |
|
Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
60 |
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.