1. Summary Information
|
Country |
|
||
|
Company Name |
IMPERIAL AUTO INDUS-TRIES LIMITED |
Principal Name 1 |
Mr. Jagjit Singh Lamba |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Sham Bihari Sardana |
|
Registration # |
55-007737 |
||
|
Street Address |
202, Kusal Bazar, 32-33 Nehru Place, New Delhi – 110019 |
||
|
Established Date |
22.04.1975 |
SIC Code |
-- |
|
Telephone# |
91-11-26419619 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-26412736 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Motor vehicle Parts |
|
|
# of employees |
Not Available |
Product Name 2 |
Hydraulic Parts |
|
Paid up capital |
Rs.464,588,000/- |
Product Name 3 |
IC Engine Parts |
|
Shareholders |
Directors or relatives of Directors – 100% |
Banking |
Bank of Bank of |
|
Public Limited Corp. |
No |
Business Period |
38 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Joint Venture |
-- |
Tokai Imperial Rubber India Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
4,950,085,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
8,700,738,000 |
Net Profit |
6,967,689,000 |
|
Sales(Previous yr) |
6,967,689,000 |
Net Profit(Prev.yr) |
241,315,000 |
MIRA INFORM REPORT
|
Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
IMPERIAL AUTO INDUS-TRIES LIMITED |
|
|
|
|
Registered
Office : |
202, Kusal Bazar, 32-33 Nehru Place, New Delhi – 110019 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss Account) |
|
|
|
|
Date of
Incorporation : |
22.04.1975 |
|
|
|
|
Com. Reg. No.: |
55-007737 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 464.588 Millions |
|
|
|
|
IN No.: C ompany Identification No.] |
U74899DL1975PLC007737 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKI00449B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI0645J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Exporters of Motor Vehicle Parts, Hydraulic Parts, IC Engine Parts and other Auto Parts. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5460000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Balance Sheet Statement for the year 2012 is not available. However, there
seems a growth in the turnover and profitability of the company during the current
year. From the previous year financial it seems that the company is
performing well. Trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
BBB+ (Long Term Rating) |
|
Rating Explanation |
This rating indicate that expectation of default
risk are currently low. |
|
Date |
March 15, 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.
LOCATIONS
|
Registered Office : |
202, Kusal Bazar, 32-33 Nehru Place, New Delhi - 110019, India |
|
Tel. No.: |
91-11-26419619/ 22619619/ 26412022 |
|
Fax No.: |
91-11-26412736 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office / Factory : |
Opposite Railway Goods Shed, Faridabad – 121001, Haryana, India |
|
Tel. No.: |
91-129-2423791/ 2412311/ 2412736 |
|
Fax No.: |
91-129-2412136/ 2428158 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No. 94, Sector 25, |
|
Tel. No.: |
91-129-5062744/ 5062741/ 5062742/ 2441027 |
|
Fax No.: |
91-129-2441028 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Plot No. 32, Sector 27, |
|
Tel. No.: |
91-129-2273692/ 2271792/ 2271146 |
|
|
|
|
Factory 4 : |
Plot No. 83, Sector 25, |
|
Tel. No.: |
91-129-2231148/ 2232993/ 5062744 |
|
Fax No.: |
91-129-2441028 |
|
|
|
|
|
·
Tel. No.: +1 586 415 0297 Fax No.: +1 586 415 6231 E-Mail : shawncox734@cs.com
·
HEL- |
|
|
|
|
Warehouse : |
Located at : · Pune ·
·
|
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Jagjit Singh |
|
Designation : |
Chairman cum Joint Managing director |
|
Address : |
House No. 9, Sector 16-A,
Faridabad – 121003, Haryana, India |
|
Date of Birth/Age : |
15.09.1938 |
|
Qualification : |
Fellow of Science |
|
Experience : |
45 Years |
|
Date of Appointment : |
01.04.2005 |
|
PAN No.: |
AEZPS1137F |
|
Voter ID No.: |
HR/06/52/546011 |
|
DIN No.: |
00109439 |
|
|
|
|
Name : |
Mr. Sham Behari Sardana |
|
Designation : |
Managing director |
|
Address : |
D-99, Panchsheel Enclave, New Delhi – 110016, India |
|
Date of Birth/Age : |
21.03.1944 |
|
Qualification : |
Diploma in Mechanical Engineering |
|
Experience : |
42 Years |
|
Date of Appointment : |
01.04.2005 |
|
PAN No.: |
AEZPS1136E |
|
Voter ID No.: |
DL/02/008/21920 |
|
DIN No.: |
00109418 |
|
|
|
|
Name : |
Mr. Chander Prakash Kohli |
|
Designation : |
Whole-time director |
|
Address : |
House No. 1211, Sector 15,
Faridabad, Haryana, India |
|
Date of Birth/Age : |
02.01.1946 |
|
Date of Appointment : |
01.03.2012 |
|
DIN No.: |
01411571 |
|
|
|
|
Name : |
Mr. Ravindra Nath Malik |
|
Designation : |
Director |
|
Address : |
House No. 15, Sector 16-A Faridabad, Haryana, India |
|
Date of Birth/Age : |
20.02.1937 |
|
Date of Appointment : |
28.09.1998 |
|
PAN No.: |
ACYPM9686L |
|
Voter ID No.: |
HR/06/52/546027 |
|
DIN No.: |
00109448 |
|
|
|
|
Name : |
Mr. Vimal Kampani |
|
Designation : |
Director |
|
Address : |
B-1/31, Malviya Nagar, New Delhi, India |
|
Date of Birth/Age : |
24.02.1942 |
|
Date of Appointment : |
09.02.2010 |
|
PAN No.: |
AEYPK3840G |
|
DIN No.: |
01543054 |
KEY EXECUTIVES
|
Name : |
Mr. Vikram Mehra |
|
Designation : |
Secretary |
|
Address : |
502, Sabzaar Apartments, Sector 45, |
|
Date of Birth/Age : |
25.01.1972 |
|
Date of Appointment : |
14.12.2009 |
|
PAN No.: |
AAUPM4954B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names
of Shareholders |
No. of Shares |
|
Vishan Devi |
1095075 |
|
Sham Behari
Sardana |
27273075 |
|
Jagjit Singh
Karta of Jagjit Singh (HUF) |
952728 |
|
Jagjit Singh |
30907865 |
|
Manjeet Lamba |
2709000 |
|
Sham Bihari Sardana Karta of S B Sardana (HUF) |
2394150 |
|
Manav Sardana |
696232 |
|
Shobha Sardana |
2322375 |
|
Tarun Lamba |
906750 |
|
Sham Bihari Sardana Karta
of P D Sardana (HUF) |
271125 |
|
Tarun Lamba Karta
of Tarun Lamba HUF |
159750 |
|
|
|
|
Total |
69688125 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Motor Vehicle Parts, Hydraulic Parts, IC Engine Parts and other Auto Parts. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Motor Vehicles
Parts/ Hydraulic Parts/ I.C. Engine Parts/Other Auto Parts |
Nos |
N.A. |
N.A. |
14,00,00,000 |
Note:
* The Company’s products
are exempt from Licensing requirements under New Industrial Policy in terms of
Notification no S.O.477(E) dated 25 th July, 1991.
**On single shift basis, as certified by the management and relied on by
the auditors being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Ø Bank of Baroda,
A-5, Nehru Ground, N.I.T., Faridabad - 121001, Haryana, India Ø Kotak Mahindra
Bank Limited, 15-16 Upper Ground Floor, Ambadeep Building, 14, Kasturba Gandhi
Marg, New Delhi - 110001, India Ø The Hongkong and
Shanghai Banking Corporation Limited, Birla Towers, 25 Barakhamba Road, New
Delhi - 110001, India Ø Citi Bank N.A., Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi - 110001, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rakesh Raj and Associates Chartered Accountants |
|
Address : |
B-565, Sector 7, Faridabad, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFR1998J |
|
|
|
|
Associated
Company : |
Ø Imperial Auto
Nylon Tubing Limited [U34300DL1997PLC084252] Ø Solar Glass
Works Limited [U74899DL1974PLC007063] Ø S J Rubber
Industries Limited [U25199DL2010PLC207562] Ø Auto Ignition
Limited [U34300DL1971PLC207710] |
|
|
|
|
Associated
Enterprise : |
Ø Imperial Auto
Industries Ø Ideal Auto
Industries Ø S J Industries Ø S A Industries Ø Goodwell
Industries Ø Santokh
Industries |
|
|
|
|
Joint Venture : |
Ø Tokai Imperial Rubber
India Private Limited [U25191DL2005PTC142682] Ø Imperial Martor
Engine Tubes Private Limited [U29299PN2008PTC131281] |
|
|
|
|
Wholly Owned
Subsidiary : |
Ø IAI Industries
Limited [U74899DL1995PLC069837] |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
69,688,125 |
Equity Shares |
Rs. 10/- each |
Rs. 696.881
Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs. 750.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
46,458,750 |
Equity Shares |
Rs.10/- each |
Rs. 464.588 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
464.588 |
446.088 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
899.703 |
658.782 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1364.291 |
1104.870 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
2185.976 |
1773.586 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
2185.976 |
1773.586 |
|
|
DEFERRED TAX LIABILITIES |
|
33.516 |
33.624 |
|
|
|
|
|
|
|
|
TOTAL |
|
3583.783 |
2912.080 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1154.454 |
1067.079 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
177.160 |
123.400 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1229.439
|
1053.611
|
|
|
Sundry Debtors |
|
1734.373
|
1269.785
|
|
|
Cash & Bank Balances |
|
106.378
|
96.641
|
|
|
Other Current Assets |
|
434.553
|
400.452
|
|
|
Loans & Advances |
|
113.729
|
135.405
|
|
Total
Current Assets |
|
3618.472
|
2955.894
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1188.104
|
1029.658
|
|
|
Other Current Liabilities |
|
118.199
|
159.635
|
|
|
Provisions |
|
60.000
|
45.000
|
|
Total
Current Liabilities |
|
1366.303
|
1234.293
|
|
|
Net Current Assets |
|
2252.169
|
1721.601
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3583.783 |
2912.080 |
|
Note: Balance Sheet Statement for the current year
i.e.2011-2012 is not available, only Profit and Loss account is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8700.738 |
6967.689 |
4930.979 |
|
|
|
Job work |
0.000 |
0.000 |
0.635 |
|
|
|
Transfer from government grant |
0.000 |
0.000 |
0.430 |
|
|
|
Other Income |
29.564 |
67.287 |
107.201 |
|
|
|
TOTAL (A) |
8730.302 |
7034.976 |
5039.245 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
5956.410 |
4606.975 |
3171.409 |
|
|
|
Manufacturing expenses |
-- |
902.992 |
785.804 |
|
|
|
Employee related expenses |
413.986 |
323.623 |
0.000 |
|
|
|
Administrative expenses |
-- |
567.297 |
353.027 |
|
|
|
Selling and distribution expenses |
-- |
0.000 |
268.948 |
|
|
|
Deferred revenue expenditure written off |
-- |
0.000 |
0.691 |
|
|
|
Increase/Decrease in stocks |
(27.248) |
0.000 |
(61.809) |
|
|
|
Other Expenses |
1547.018 |
-- |
-- |
|
|
|
Prior Period items |
6.773 |
-- |
-- |
|
|
|
TOTAL (B) |
7896.939 |
6400.887 |
4518.070 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
833.363 |
634.089 |
521.175 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
266.777 |
199.494 |
192.551 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
566.586 |
434.595 |
328.624 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
153.015 |
133.189 |
119.785 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
413.571 |
301.406 |
208.839 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
94.132 |
60.091 |
50.872 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
319.439 |
241.315 |
157.967 |
|
|
|
|
|
|
|
|
|
|
TAX ADJUSTED FOR
EARLIER YEARS |
NA |
0.000 |
(0.022) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
45.694 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
NA |
NA |
0.000 |
|
|
|
Tax on Dividend |
NA |
NA |
0.000 |
|
|
|
Transfer to General Reserve |
NA |
NA |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
444.990 |
203.639 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
1113.080 |
954.454 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
1205.759 |
753.290 |
|
|
|
Consumable dies and tools |
|
0.000 |
0.752 |
|
|
|
Capital Goods |
|
23.496 |
20.221 |
|
|
TOTAL IMPORTS |
NA |
1229.255 |
774.263 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.88 |
5.19 |
3.54 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.66
|
3.43
|
3.13
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.75
|
4.33
|
4.24
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
6.31
|
5.19
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.22
|
0.19
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
1.60
|
1.61
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
2.65
|
2.39
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U74899DL1975PLC007737 |
|
Name of the
company |
IMPERIAL AUTO
INDUS-TRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
202, Kusal Bazar, 32-33 Nehru Place, New Delhi – 110019, India Email: csimperial@impauto.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) Floating charge Others [Present and Future Fixed Assets] |
|
Particular of
charge holder |
Citi Bank N.A., Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi - 110001, India Email: tushar.makkar@citi.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
hypothecation |
|
Date of
instrument Creating the charge |
21.01.2013 |
|
Amount secured by
the charge |
Rs. 171.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 3 Month USD Libor Terms of Repayment 15 Equal
Quarterly Installments starting from end of 18 months of first drawdown. Margin 2.50% p.a. Extent and Operation of the charge First pari-passu
charge over whole of the movable fixed assets comprising of plant and
machinery, computers, furniture and fixtures, machinery spares, tools and
accessories and other assets, both present and future more particularly
described in Part A of Schedule II of Deed of Hypothecation. First exclusive
charge over the plant & machinery purchased out of the facility amount
more particularly described in Part C of Schedule II of Deed of
Hypothecation. |
|
Short particulars
of the property charged |
First pari-passu
charge over whole of the movable fixed assets comprising of plant &
machinery, computers, furniture & fixtures, machinery spares, tools and
accessories and other assets, both present and future more particularly
described in Part A of Schedule II of Deed of Hypothecation. First exclusive
charge over the plant and machinery purchased out of the facility amount more
particularly described in Part C of Schedule II of Deed of Hypothecation. |
CONTINGENT
LIABILITIES
(Rs.
in Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
1) Capital contracts remaining to be executed |
1.237 |
10.247 |
|
2) Bank guarantee outstanding with third party |
3.165 |
1.600 |
|
3) Liabilities in respect of re-export of returned goods |
Nil |
22.409 |
|
4) Liabilities in respect letter of credit outstanding with the bank. |
87.964 |
43.954 |
|
5) Liabilities in respect of pending labour court/ sales tax cases
(app.)* |
17.868 |
2.368 |
|
* The above
matters are subject to legal proceedings in the ordinary course of business. |
||
FIXED ASSETS:
·
Land
and Building
·
Furniture
and fittings
·
Machinery
·
Vehicles
·
Technical
know how
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. 54.38 |
|
|
1 |
Rs. 82.07 |
|
Euro |
1 |
Rs. 70.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.