|
Report Date : |
25.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALFA LAVAL INDIA LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
15.12.1937 |
|
|
|
|
Com. Reg. No.: |
11-002732 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.181.600
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN1937PLC002732 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacture and sale of industrial equipment
and process solutions. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (73) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 19580000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Alfa Laval Group. It is a well established and
reputed company having an excellent track record. Financial position is good.
Fundamentals are strong and healthy. Trade relations are decent. Payments are
regular and as per commitments. The company can be considered good for any 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 |
CRISIL |
|
Rating |
AA+ (Long Term Rating) |
|
Rating Explanation |
High degree of safety to carry very low credit risk. |
|
Date |
11.09.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ |
|
Rating Explanation |
Very strong degree of safety. It carry lowest credit risk. |
|
Date |
11.09.2012 |
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 DECLINED BY
|
Name : |
Mr. Bala Krishnan |
|
Designation : |
Assistant Company Secretary |
|
Contact No.: |
91-20-67341100/210 |
|
Date : |
24.06.2013 |
LOCATIONS
|
Registered Office : |
Mumbai-Pune Road, Dapodi, Pune–411 012, Maharashtra, India |
|
Tel. No.: |
91-20-27107100/ 66119100/ 27147721/ 7728/ 776321/ 797711 |
|
Fax No.: |
91-20-27147711/ 779479 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Gat No.30 to 33 and 74 to 82, Sarole Veer Road, Sarole – 412 205, Taluka Bhor, District Pune, Maharashtra, India |
|
Tel. No.: |
91-2113-282367 |
|
Fax No.: |
91-2113-282301 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
E-7/ E-8, M.I.D.C. Estate, Satara - 415 004, |
|
Tel. No.: |
91-2162-244503 |
|
Fax No.: |
91-2162-244268 |
|
|
|
|
Head Office / Sales and Corporate Office : |
Office No. 301, Global Port Building Survey No. 45/1-10, Mumbai
Bangalore Highway Baner Pune-411045, Maharashtra, India |
|
Tel. No.: |
91-20-67341100 |
|
Fax No.: |
91-20-67341115 |
|
|
|
|
Parts and Service
Centre : |
Plot No. R-674, MIDC
Rebale, TTC Industrial Area, Post Ghansoli, Navi Mumbai - 400 701,
Maharashtra, India |
|
Tel. No.: |
91-22-27691832 |
|
Fax No.: |
91-22-27607834 |
|
|
|
|
Sales Office : |
Located At: · Gujarat · Karnataka · Tamilnadu · West Bengal · Madhya Pradesh · Andhra Pradesh · Mumbai · New Delhi |
DIRECTORS
AS ON 30.04.2013
|
Name : |
Jose Antonio
Hernanz Arroyo |
|
Designation : |
Managing Director |
|
Address : |
13-3, Avenida De Torrelodones, Madrid-28250, Spain |
|
Date of Birth/Age : |
16.04.1952 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
02848196 |
|
|
|
|
Name : |
Henrik Hakan
Mattias Holm |
|
Designation : |
Director |
|
Address : |
Flat No. C-1/F-68, MacDonnell Road, Mid Levels, Hong Kong |
|
Date of Birth/Age : |
04.03.1970 |
|
Date of Appointment : |
21.06.2012 |
|
DIN No.: |
05336337 |
|
|
|
|
Name : |
Mr. Raymond John Field |
|
Designation : |
Director |
|
Address : |
41 D, Pat Heung, Ha Che Tsuen, Yuen Long, Hong Kong, China |
|
Date of Birth/Age : |
11.05.1954 |
|
Date of Appointment : |
27.07.2011 |
|
DIN No.: |
00867545 |
|
|
|
|
Name : |
Mr. Manoj Diwakar Barve |
|
Designation : |
Director |
|
Address : |
Flat No. 11, Kumar Padmlya, S.No. 160/1, Building No. A-5, DP Road,
Aundh, Pune-411007, Maharashtra, India |
|
Date of Birth/Age : |
12.12.1964 |
|
Date of Appointment : |
21.06.2012 |
|
DIN No.: |
03097616 |
|
|
|
|
Name : |
Kanulal Gorane Bhatu |
|
Designation : |
Director |
|
Address : |
B-402, Surobhi Park, S. No. 161/162, DP Road, Aundh, Pune-411007, Maharashtra,
India |
|
Date of Birth/Age : |
13.09.1968 |
|
Date of Appointment : |
21.06.2012 |
|
DIN No.: |
03516243 |
KEY EXECUTIVES
|
Name : |
Mr. Viswanathan Chandrasekhar |
|
Designation : |
Company Secretary |
|
Address : |
C3/18 and 19, Salunke Vihar Road, Oxford Comforts, Wanowrie,
Pune-411040, Maharashtra, India |
|
Date of Birth/Age : |
20.01.1958 |
|
Date of Appointment : |
20.08.1993 |
|
PAN No.: |
AANPC6399P |
|
|
|
|
Name : |
Mr. Bala Krishnan |
|
Designation : |
Assistant Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.04.2013
NOTE: SHAREHOLDING
DETAILS FILE ATTACHED.
AS ON 30.04.2013
|
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] |
98.00 |
|
Bodies
corporate |
0.18 |
|
Other
top fifty shareholders |
0.45 |
|
Others
|
1.34 |
|
Nationalized
or other banks |
0.03 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacture and sale of industrial equipment
and process solutions. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|
|
|
|
Bankers : |
· Bank of India · Standard Chartered Bank · Bank of Maharashtra · Industrial Development Bank of India Limited · The Hong Kong and Shanghai Banking Corporation Limited |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountant |
|
Address : |
C-401, Fourth Floor, Panchshil Tech Park, Yerwada, Pune-411006,
Maharashtra, India |
|
PAN No: |
AABFS3421N |
|
|
|
|
Holding Company : |
Alfa Laval Corporate AB Sweden |
|
|
|
|
Ultimate Holding Company : |
Alfa Laval AB Sweden |
|
|
|
|
Fellow Subsidiaries : |
Australia Alfa Laval Australia Pty Limited Belgium Alfa Laval Corporate AB Belgian Branch Brazil Alfa Laval Ltda Bulgaria Alfa Laval Limited Canada Alfa Laval Inc Greece Alfa Laval AEBE Hungary Alfa Laval Kft India ·
Alfa Laval Support Services Private Limited ·
Tranter India Private Limited Indonesia PT Alfa Laval Italy ·
Alfa Laval SpA ·
Astepo S.r.l ·
Alfa Laval Parma S.r.l Chile Alfa Laval S.A.C.I. China ·
Alfa Laval (China) Limited ·
Alfa Laval Flow Equipment (Kunshan) Company
Limited ·
Alfa Laval (Jiangyin) Manufacturing Company
Limited ·
Alfa Laval (Shanghai) Technologies Company ·
Wuxi MCD Gasket Company Limited Japan Alfa Laval KK South Korea Alfa Laval Korea Limited Czech Republic Alfa Laval Spol S.R.O. Malaysia Alfa Laval (Malaysia) Sdn Bhd Denmark ·
Alfa Laval Copenhagen A/S ·
Alfa Laval Tank Equipment A/S ·
Alfa Laval Kolding A/S ·
Alfa Laval Nakskov A/S ·
Alfa Laval Nordic A/S ·
Scandi Brew Netherlands ·
Alfa Laval Groningen B.V. ·
Alfa Laval Merco B.V. ·
Alfa Laval Benelux N.V-S.A. ·
Alfa Laval Benelux B.V. Finland ·
Alfa Laval Nordic OY ·
Alfa Laval Vantaa OY Norway Alfa Laval Nordic A/S France ·
Alfa Laval Vicarb SAS ·
Alfa Laval SAS ·
Alfa Laval Spiral SAS ·
Alfa Laval Moatti SAS ·
MCD SAS ·
Packinox SA Phillipines Alfa Laval Philippines Inc Poland ·
Alfa Laval Polska Sp. z. o. o ·
Alfa Laval Krakow Sp.z .o. o Germany Alfa Laval (Germany) Mid Europe GmbH Portugal Alfa Laval Portugal Ltda Qatar Alfa Laval Service Operations Qatar LLC Russia AO Alfa Laval Potok Singapore Alfa Laval Singapore Pte Limited South Africa Alfa Laval (Pty) Limited Spain Alfa Laval Iberia SA Sweden ·
Alfa Laval Tumba AB ·
Alfa Laval Treasury International AB ·
Alfa Laval Holding AB ·
Alfa Laval Lund AB ·
Alfa Laval Nordic AB ·
Alfa Laval (Thailand) Limited Taiwan Alfa Laval Taiwan Limited Thailand Alfa Laval Quality Moving AB Turkey Alfa Laval Makine Sanayii ve Ticaret Limited. Sti UAE Alfa Laval Middle East Limited United Kingdom ·
Alfa Laval Limited ·
Alfa Laval Pumps Limited USA ·
Alfa Laval Inc ·
Alfa Laval Thermal Inc ·
Alfa Laval Distribution Inc Venezuela Alfa Laval Venezolana S.A. |
CAPITAL STRUCTURE
AS ON 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18160567 |
Equity Shares |
Rs.10/- each |
Rs. 181.610
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18160483* |
Equity Shares |
Rs.10/- each |
Rs. 181.600
Millions |
|
|
|
|
|
NOTES
a)
441,845 9/10 (Previous year 441,845 9/10) equity shares
of Rs.10 each have been allotted as fully paid up pursuant to contracts for
consideration other than cash;
b)
29,988 (Previous year 29,988) equity shares of
Rs.10 each have been allotted as fully paid up, pursuant to the right exercised
by a lender of converting a part of the loan advanced by them to the Company;
c)
8,822,989 (Previous year 8,822,989) equity shares
of Rs.10 each have been allotted as fully paid up Bonus shares by
capitalization of general reserve, securities premium, capital reserve and export
reserve.
* includes
16,120,281 (Previous year 16,120,281) Equity shares of Rs.10 each held by Alfa
Laval Corporate AB, Sweden the Holding Company (Alfa Laval AB, the Ultimate
Holding Company)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
181.600 |
181.600 |
181.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4715.020 |
4040.740 |
3593.070 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4896.620 |
4222.340 |
3774.670 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
46.060 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
46.060 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4896.620 |
4222.340 |
3820.730 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1152.310 |
964.950 |
977.760 |
|
|
Capital work-in-progress |
267.550 |
116.490 |
23.580 |
|
|
|
|
|
|
|
|
INVESTMENT |
548.780 |
1305.510 |
1233.850 |
|
|
DEFERREX TAX ASSETS |
141.930 |
82.360 |
32.890 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2377.050
|
1994.610
|
1759.940
|
|
|
Sundry Debtors |
2593.280
|
1980.990
|
1766.140
|
|
|
Cash & Bank Balances |
1075.160
|
522.710
|
395.050
|
|
|
Other Current Assets |
247.270
|
240.180
|
284.180
|
|
|
Loans & Advances |
1148.910
|
918.100
|
605.640
|
|
Total
Current Assets |
7441.670
|
5656.590 |
4810.950 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1959.560
|
1529.830
|
1221.520
|
|
|
Other Current Liabilities |
2216.180
|
1405.740
|
1294.670
|
|
|
Provisions |
479.880
|
967.990
|
742.110
|
|
Total
Current Liabilities |
4655.620
|
3903.560 |
3258.300 |
|
|
Net Current Assets |
2786.050
|
1753.030
|
1552.650
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4896.620 |
4222.340 |
3820.730 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11541.740 |
8360.340 |
8875.730 |
|
|
|
Other Income |
409.000 |
231.990 |
121.130 |
|
|
|
TOTAL (A) |
11950.740 |
8592.330 |
8996.860 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
7003.720 |
4605.650 |
0.000 |
|
|
|
Manufacturing service costs |
687.820 |
495.650 |
6990.440 |
|
|
|
Contract cost |
231.530 |
137.990 |
0.000 |
|
|
|
Employee related expenses |
974.110 |
809.270 |
0.000 |
|
|
|
Administrative selling other expenses |
1009.400 |
753.280 |
0.000 |
|
|
|
TOTAL (B) |
9906.580 |
6801.840 |
6990.440 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2044.160 |
1790.490 |
2006.420 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.620 |
5.300 |
5.250 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2043.540 |
1785.190 |
2001.170 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
139.340 |
127.100 |
129.570 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1904.200 |
1658.090 |
1871.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
598.830 |
576.880 |
638.210 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1305.370 |
1081.210 |
1233.390 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2218.740 |
1880.070 |
1301.850 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
131.000 |
109.000 |
124.000 |
|
|
|
Dividend |
544.810 |
544.810 |
454.010 |
|
|
|
Tax on Dividend |
86.280 |
88.730 |
77.160 |
|
|
BALANCE CARRIED
TO THE B/S |
2762.020 |
2218.740 |
1880.070 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4735.140 |
2609.150 |
NA |
|
|
|
Commission Earnings |
2.300 |
3.360 |
NA |
|
|
|
Other Earnings |
41.460 |
93.270 |
NA |
|
|
TOTAL EARNINGS |
4778.900 |
2705.780 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2623.790 |
1600.020 |
NA |
|
|
|
Stores & Spares |
210.040 |
196.120 |
NA |
|
|
|
Capital Goods |
227.100 |
48.580 |
NA |
|
|
TOTAL IMPORTS |
3060.930 |
1844.720 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
71.88 |
59.54 |
67.92 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
10.92
|
12.58 |
13.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.50
|
19.83 |
21.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.80
|
24.73 |
32.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.39 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.00
|
0.00 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.45 |
1.47 |
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 |
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) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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] |
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
16.730 |
8.660 |
8.350 |
|
Creditors due others |
1942.830 |
1521.170 |
1213.170 |
|
TOTAL |
1959.560 |
1529.830 |
1221.520 |
NATURE OF OPERATIONS
Subject is engaged
in the manufacture and sale of industrial equipment and process solutions. The Company
sells high speed separators heat exchangers and flow equipment amongst other
products besides offering process solutions to various industries.
OPERATIONS AND
FINANCIAL RESULTS
In the wake of an uncertain
business environment that pervaded during the year, the order intake, in the
aggregate, moved past the 10 billion rupee mark to Rs 11,126.59 Millions (2010:
Rs. 9,052.87 Millions) registering an increase of about 23% over the previous
year with some major orders from the Food industry and a very good flow of
business from the Principals. The healthy order backlog at the commencement of
the year helped in augmentation of the sales revenues which also crossed the
ten billion rupee mark to reach Rs.11,541.74 Millions (2010: Rs.8,360.34
Millions) reflecting an increase of about
38% year on year
with exchange gain, export benefits and profit on sale of mutual fund
investments boosting the other income, the total income for the year was at
Rs.11,950.74 Millions (2010:Rs.8,592.33 Millions). While the earnings before
depreciation, interest and taxation regained the two billion rupee mark, the
overall profitability could not grow in line with the sales turnover growth due
to higher provisioning and incidence of higher costs. The financial performance
of the Company for the year
DELISTING OF
EQUITY SHARES:
The Company had
received a communication from Alfa Laval Corporate AB, Sweden, the Promoter, informing
of its decision to seek a voluntary delisting of the equity shares of the
Company from the stock exchanges on which they are presently listed, being
Bombay Stock Exchange Limited and National Stock Exchange of India Limited in accordance with the Securities and Exchange
Board of India ( Delisting of Equity Shares) Regulations, 2009 with the
objectives of obtaining full ownership of the Company and of providing an exit
opportunity to the public shareholders. This was followed up with further communications
by the Promoter conveying the floor price of Rs.2,045/- per equity share and an
indicative offer price of Rs.2,850/- per equity share. The Promoter who
currently holds 88.77% of the paid-up equity share capital of the Company is
proposing to acquire from the Public shareholders the outstanding 2,040,202
Equity Shares constituting 11.23% of the paid-up equity share capital of the
Company through a reverse book building process scheduled to be conducted
between February 15, 2012 and February 22, 2012 which will determine the exit
price for the Promoter to decide thereon. The acquisition of the equity shares
by the Promoter is conditional upon a minimum of 1,020,101 equity shares being
tendered at or below the exit price so as to cause the Promoter’s shareholding
to increase to 94.38% of the paid-up equity share capital of the Company.
Meanwhile, the Company has applied for and obtained the in principle approval
from the above Stock Exchanges for the proposed voluntary delisting of the
equity shares of the Company
FIXED ASSETS
·
Free Hold Land
·
Leasehold Land
·
Buildings and Roads
·
Plant and Machinery
·
Furniture and Fixtures
·
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proeeding 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. 59.73 |
|
|
1 |
Rs. 91.81 |
|
Euro |
1 |
Rs. 78.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
TOTAL |
|
73 |
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.