MIRA
INFORM REPORT
|
Report Date : |
17.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
M ACER AUTOMOTIVE SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
No. 20-D, I Phase, KIDB, Kumbalgod, Bangalore 560074, Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
03.06.1999 |
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Com. Reg. No.: |
025295 |
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Capital Investment
/ Paid-up Capital : |
Rs. 26.590 millions |
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CIN No.: [Company Identification
No.] |
U31909KA1999PTC025295 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Electrical and Electronic Sub Components
and Components for Application in Auto Industries. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 95000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The management has failed to file its financials with the government
department after 2010. Mr. Narasimha Babu, Finance Manager has provided all information to us
but the financials are not verified. As per old, the financial strength appeared to be moderate due to no
reserve being maintained. However, trade relations are fair. Business is active. Payment terms
are unknown. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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. Narsimhababu |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9845739106 |
|
Date : |
13.06.2013 |
LOCATIONS
|
Registered Office / Factory : |
No. 20-D, I Phase, KIDB, Kumbalgod, Bangalore – 560074, Karnataka,
India |
|
Tel. No.: |
91-80-28437962 / 28437963 |
|
Mobile No.: |
91-9845739106 (Mr. Narsimhababu) |
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Fax No.: |
91-80-28437898 |
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E-Mail : |
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Location: |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Hampapur Gopal Bhaskar |
|
Designation : |
Director |
|
Address : |
862, 4th Cross, 5th Main, M.C. Layout,
Vijayanagar, Bangalore-560040, Karnataka, India |
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Date of Birth/Age : |
09.09.1953 |
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Date of Appointment : |
03.06.1999 |
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DIN No.: |
02146197 |
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Name : |
Mrs. Sandhya Vasuki |
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Designation : |
Director |
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Address : |
604, 3rd Stage, 1st Block, Basaveswara, Nagar,
Bangalore-560079, Karnataka, India |
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Date of Birth/Age : |
24.04.1959 |
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Date of Appointment : |
03.06.1999 |
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DIN No.: |
02146170 |
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Name : |
Mr. Hampapur Gopal Vasuki |
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Designation : |
Director |
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Address : |
604, 3rd Stage, 1st Block, Basaveswara, Nagar,
Bangalore-560079, Karnataka, India |
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Date of Birth/Age : |
22.05.1955 |
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Date of Appointment : |
03.06.1999 |
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DIN No.: |
02146184 |
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Name : |
Mr. Mallipatna Bhasker Rao Muralidhar |
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Designation : |
Director |
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Address : |
903, 3rd Cross, M.C. Layout, Vijayanagar,
Banagalore-560040, Karnataka, India |
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Date of Birth/Age : |
03.10.1953 |
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Date of Appointment : |
03.06.1999 |
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DIN No.: |
00924484 |
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Name : |
Mr. Sriranga Raghu |
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Designation : |
Director |
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Address : |
1197, 6th Main Road, A Block, Rajajinagar, II Stage, Bangalore-560010,
Karnataka, India |
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Date of Birth/Age : |
30.10.1956 |
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Date of Appointment : |
01.01.2005 |
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DIN No.: |
02146175 |
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Name : |
Mr. Mandya Raghu Srinivas |
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Designation : |
Director |
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Address : |
1197, 6th Main Road, A Block, Rajajinagar, II Stage,
Bangalore-560010, Karnataka, India |
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Date of Birth/Age : |
24.12.1953 |
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Date of Appointment : |
01.01.2005 |
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DIN No.: |
02100298 |
KEY EXECUTIVES
|
Name : |
Mr. Narsimhababu |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Hampapur Gopal Bhaskar |
|
75000 |
|
Bhaskar Muralidhar Rao |
|
75000 |
|
Hampapur Gopal Vasuki |
|
62500 |
|
Sandhya Vasuki |
|
12500 |
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Mandya Raghu Srinivas |
|
25000 |
|
Sriranga Raghu |
|
25000 |
As on 30.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Electrical and Electronic Sub Components
and Components for Application in Auto Industries. |
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Exports : |
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Products : |
Electrical and Electronic Sub Components and Components for
Application in Auto Industries |
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Countries : |
ô Germany ô
Brazil ô
China ô
Thailand ô
Poland ô
Singapore |
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Imports : |
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Products : |
Raw Material |
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Countries : |
ô Germany ô
Singapore |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Supplier : |
¯ Agni Motors ¯
Ashwini Tools ¯
Anugraha Agencies ¯
Advance Electronic Systems ¯
All Cargo global Logistics ¯
Automaxx ¯
Bombay Tools Supplying Agency Private Limited ¯
Bill Forge Private Limited ¯
BT Solders ¯
Classic Wire Insulations ¯
Coppered Industries Private Limited ¯
Electro Mags ¯
Excel Springs Private Limited |
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Customer : |
End Users ¯
Bosch Automotive ¯
Bosch Limited ¯
Continental Limited ¯
Robert Bosch Limited ¯
Bosck Chassis Systems India Limited ¯
Bosck Automotive Products (Suzhou) Company
Limited ¯
Teknia Zem SA ¯
Robert Bosh Energy and Body Systems ¯
MultiLink |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
State Bank of India, Peenya Industrial Estate, Bangalore - 560058,
Karnataka, India |
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Facilities : |
Cash Credit – Rs. 100.000 millions (From State Bank of India)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M N S and Company Chartered Accountant |
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Address : |
No. L 89, 12th Cross, VI Sector, H S R Layout, Bangalore
560102, Karnataka, India |
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PAN No.: |
AACFS5727L |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs. 10 each |
Rs. 25.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
1909000 |
Equity Shares |
Rs. 10 each |
Rs.19.090 millions |
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Share Application Money Pending Allotment |
|
Rs. 7.500 millions |
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Total |
|
Rs. 26.590
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
26.590 |
22.540 |
13.326 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(2.896) |
(2.889) |
0.000 |
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NETWORTH |
23.694 |
19.651 |
13.326 |
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LOAN FUNDS |
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|
1] Secured Loans |
27.318 |
15.736 |
11.248 |
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2] Unsecured Loans |
8.015 |
10.049 |
6.000 |
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TOTAL BORROWING |
35.333 |
25.785 |
17.248 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
59.027 |
45.436 |
30.574 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
31.884 |
22.270 |
19.866 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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Inventories |
16.478
|
9.352 |
5.789 |
|
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Sundry Debtors |
44.408
|
12.870 |
9.624 |
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Cash & Bank Balances |
0.247
|
0.830 |
0.144 |
|
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Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
11.624
|
5.169 |
6.330 |
|
Total
Current Assets |
72.757
|
28.221 |
21.887 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
43.312
|
4.720 |
11.129 |
|
|
Other Current Liabilities |
2.316
|
0.353 |
0.072 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
45.628
|
5.073 |
11.201 |
|
|
Net Current Assets |
27.129
|
23.148 |
10.686 |
|
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MISCELLANEOUS EXPENSES |
0.014 |
0.018 |
0.022 |
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|
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TOTAL |
59.027 |
45.436 |
30.574 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Sales |
|
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Other Income |
|
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|
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|
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TOTAL (A) |
153.086 |
74.518 |
27.783 |
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Less |
EXPENSES |
|
|
|
|
|
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|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
140.710 |
64.130 |
30.055 |
|
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Advertising Expenses |
|
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|
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|
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TOTAL (B) |
140.710 |
64.130 |
30.055 |
|
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|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12.376 |
10.388 |
(2.272) |
|
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|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
4.742 |
2.585 |
1.425 |
|
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|
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|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.634 |
7.803 |
(3.697) |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.210 |
2.438 |
1.231 |
|
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|
|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
4.424 |
5.365 |
(4.928) |
|
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|
|
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|
|
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|
Less |
TAX (H) |
0.179 |
0.000 |
0.000 |
|
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|
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|
PROFIT AFTER TAX
(G-H) (I) |
4.245 |
5.365 |
(4.928) |
|
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|
|
|
|
|
|
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|
Earnings Per
Share (Rs.) |
2.22 |
-- |
-- |
|
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
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|
Sales Turnover (Approximately) |
510.000 |
500.000 |
400.000 |
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|
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|
Expected Sales (2013-2014): Rs. 600.000 millions
The above information has been parted by Mr. Narsimhababu (Finance
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.77
|
7.20 |
(17.73) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.23
|
10.63 |
(11.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.27 |
(0.37) |
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|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.49
|
1.31 |
1.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
5.56 |
1.95 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
six 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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
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 |
No |
UNSECURED LOAN
|
UNSECURED LOAN |
31.03.2010 (Rs.
In millions) |
31.03.2009 (Rs.
In millions) |
|
Export Packing Credit – State Bank of India |
8.015 |
10.049 |
|
Total |
8.015 |
10.049 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U31909KA1999PTC025295 |
|
Name of the
company |
M ACER AUTOMOTIVE
SYSTEMS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
No. 20-D, I Phase, KIDB, Kumbalgod, Bangalore - 560074, Karnataka, India E-Mail: m_acer@vsnl.net |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
80042962 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
State Bank of India, Peenya Industrial Estate, Bangalore - 560058,
Karnataka, India E-Mail: rjr.cs69@gmail.com |
|
Nature of instrument
creating charge |
Supplemental
agreement of loan cum hypothecation form sme-4 and letter of confirmation for
extension of mortgage by deposit of title deeds SME-8 (both pertain to the
same charge) |
|
Date of
instrument Creating the charge |
22.02.2012 |
|
Amount secured by
the charge |
Rs. 148.100
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 1). WCL/Open
TL/TL (NEW) - AT 6.50% Above Br, effective rate 16.50% P.A. with monthly
rests. 2). Existing TLs
- As per existing terms of sanction. Penal Int : max
2% p.a. over the normal rate. Terms of Repayment WCL - on demand.
advance is for a period of 12 months. Existing tls - as
per existing terms of sanction. Term Loan (New) :
in first 2 monthly installment of Rs. 0.100 million each; next 28 monthly
installment of Rs. 0.200 million each. Open term loan -
as per sanction. Margin RM/SFG/FG/Receivables
: 25% BG/LC : 25% TL/DPG : 35.55% OPEN TL : 26.15%. Extent and Operation of the charge Exclusive first
charge on the assets of the company and to the full extent. Others Cash Credit (Stocks) RS.3.00 CRORES; Cash Credit (Receivables) Rs.40.000 millions; TL-1 Rs.2.000 millions; TL-2 Rs 0.400 millions; TL-3 Rs 1.000 millions; TL-4 (New) Rs 5.800 millions; Open Term Loan Rs.4.800 millions; Letter Of Credit Rs.50.000 millions; Bank Guarantee Rs.2.500 millions; FC Rs.11.600 millions; Total Rs.148.100 millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypo. of
company's present and future movable fixed assets and current assets like
stocks, raw materials, semi finished and finished goods, book debts, receivables,
outstanding monies, bills, rights, stores, components, furniture and
fittings; other movables, Machinery, plant and machinery, vehicles etc., EM of lease hold
rights on KIADB land and Building Situated at No. 20-D, 1st Phase,
Kumbalagodu, Bangalore Measuring 1,800 sq.mtrs or 19,368 sq.ft. |
|
Date of
instrument modifying the charge |
13.04.2011 |
|
Particulars of
the present modification |
The amount
secured by the charge stands Increased to Rs. 148.100 millions. |
FIXED ASSETS:
·
Land
·
Tools and Moulds
·
Plant and Machinery
·
Other Equipments
·
Electrical Fittings
·
Office Equipments
·
Furniture and Fittings
·
Computers and Accessories
·
Vehicles
·
Building – Work In Progress
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.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.