MIRA INFORM REPORT

Report Date :

29.03.2013

IDENTIFICATION DETAILS

Name :	CRAFTSMAN AUTOMATION PRIVATE LIMITED
Registered Office :	15, LML Colony, P. N. Palayam, Coimbatore – 641037, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.07.1986
Com. Reg. No.:	18-001816
Capital Investment / Paid-up Capital :	Rs.47.126 Millions
CIN No.: [Company Identification No.]	U28991TZ1986PTC001816
TAN No.: [Tax Deduction & Collection Account No.]	CMBC03708F
PAN No.: [Permanent Account No.]	AABCC2461K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers, Importers and Exporters of Precision Turned Components/Parts for Automotive and Machine Tool Applications.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 5814296
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. The latest financials are not made available with the government department. As per previous year’s, the financial position of the company appears to be strong. Performance capability of the company is high. 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 conditions.

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)
India	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

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	BBB (long Term Rating)
Rating Explanation	Having Moderate degree of safety regarding timely securing of financial obligation. It Carry moderate credit risk.
Date	October, 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/Factory 1:	15, LML Colony, P. N. Palayam, Coimbatore – 641037, Tamilnadu, India
Tel. No.:	91-422-2210994/ 2212183/ 6615100
Fax No.:	91-422-2211976/ 2210976/ 6615156
E-Mail :	craftman@md2.vsnl.net.in saravanan@craftsmanautomation.com craftsman@craftsmanautomation.com murali@craftsmanautomation.com rajendran@craftsman.com alphacraft@diemould.com rajamanickam@craftsmanautomation.com
Websites:	http://www.craftsmanautomation.com
Area :	12000 sq. ft.
Location :	Owned
Factory 2:	v E-43 SIDCO Industrial Estate, Kurichi, Coimbatore-641021, Tamilnadu, India (Foundry Unit)
Factory 3:	v 123/4, Sangothipalayam Road, Arasur Post, Coimbatore-641407, Tamilnadu, India
Factory 4:	v 1251-B, Avanashi Road, Peelamedu, Coimbatore-641045, India
Factory 5:	v No-8, D and E Industrial Area, Sector-1, Pithampur, Dhar District, Madhya Pradesh, India
Factory 6:	v 110, SIDCO Industrial Estate, Malumichampatti, Coimbatore, India
Factory 7:	v 24-A/1-C, Sidco Industrial Estate, Ambattur, Chennai-600098, Tamilnadu, India
Factory 8:	v Plot No. M-3[P], Large Sector, Sriramput Gamharia, Saratkela, Jamshedpur, Jharkhand-832108, India
Factory 9:	v E-29, 2^nd Avenue, Besant Nagar, Chennai – 600090, Tamilnadu, India

DIRECTORS

AS ON 13.09.2012

Name :

Mr. Srinivasan Ravi

Designation :

Managing Director

Address :

153, Tea Estate Compound Race Course, Coimbatore - 641018, Tamilnadu, India

Date of Birth/Age :

19.03.1963

Date of Appointment :

18.07.1986

DIN No.:

01257716

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U28991TZ1986PTC001816	CRAFTSMAN AUTOMATION PRIVATE LIMITED	Managing director	18/07/1986	18/07/1986	-	Active	NO
2	U30007TN1989PTC018113	INTEGRA AUTOMATION PRIVATE LIMITED	Director	26/09/1989	26/09/1989	21/03/2009	Active	NO
3	U17111TZ1990PTC002572	ASHWINRAM SPINNING MILLS PRIVATE LIMITED	Director	1/9/2009	3/1/1990	-	Active	NO
4	U29199TZ1991PTC003548	MASTERCRAFT ENGINEERS PRIVATE LIMITED	Director	11/12/1991	11/12/1991	-	Active	NO
5	U29199TZ2007PTC013551	SHANMO ENGINEERING PRODUCTS INDIA PRIVATE LIMITED	Director	23/03/2007	23/03/2007	-	Active	NO
6	U51900TZ2007PTC013823	CARL STAHL CRAFTSMAN ENTERPRISES PRIVATE LIMITED	Director	22/06/2007	22/06/2007	-	Active	NO
7	U29200TZ2007PTC014014	MC CRAFTSMAN MACHINERY PRIVATE LIMITED	Director	6/11/2007	6/11/2007	-	Active	NO

Name :

Dr. Govindasamy Naidu Srinivasan

Designation :

Chairman

Address :

153, Tea Estate Compound Race Course, Coimbatore - 641018, Tamilnadu, India

Date of Birth/Age :

19.01.1928

Date of Appointment :

01.11.1996

DIN No.:

02369228

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U30007TN1989PTC018113	INTEGRA AUTOMATION PRIVATE LIMITED	Director	26/09/1989	26/09/1989	21/03/2009	Active	NO
2	U17111TZ1990PTC002572	ASHWINRAM SPINNING MILLS PRIVATE LIMITED	Director	3/1/1990	3/1/1990	-	Active	NO
3	U29199TZ1991PTC003548	MASTERCRAFT ENGINEERS PRIVATE LIMITED	Director	11/12/1991	11/12/1991	24/12/2008	Active	NO
4	U28991TZ1986PTC001816	CRAFTSMAN AUTOMATION PRIVATE LIMITED	Director	1/11/1996	1/11/1996	-	Active	NO

Name :

Mr. Ajitkumar Kuruppath

Designation :

Director

Address :

No.3 Sepa Apartments, No.2 Turnbulls Road, 1^st Cross Street, Nandanam, Chennai – 600035, Tamilnadu, India

Date of Birth/Age :

24.05.1955

Date of Appointment :

26.04.2011

DIN No.:

03588605

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U28991TZ1986PTC001816	CRAFTSMAN AUTOMATION PRIVATE LIMITED	Nominee director	30/09/2011	26/04/2011	Active	NO
2	L85110KA1987PLC008368	BAL PHARMA LIMITED	Nominee director	29/04/2011	29/04/2011	Active	NO
3	L17111TZ1962PLC001183	PRECOT MERIDIAN LIMITED	Nominee director	29/04/2011	29/04/2011	Active	NO
4	L34103TN1934PLC000669	E L FORGE LIMITED	Alternate director	30/08/2011	30/08/2011	Active	NO

Name :

Mr. Kaliappa Goundar Gomatheswaran

Designation :

Director

Address :

15 A, LML Colony, Ammankulam Road, Coimabtore – 641037, Tamilnadu, India

Date of Birth/Age :

03.06.1967

Date of Appointment :

05.02.1997

DIN No.:

01965772

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U29199TZ1991PTC003548	MASTERCRAFT ENGINEERS PRIVATE LIMITED	Director	11/12/1991	11/12/1991	24/12/2008	Active	NO
2	U28991TZ1986PTC001816	CRAFTSMAN AUTOMATION PRIVATE LIMITED	Whole-time director	1/11/1996	1/11/1996	-	Active	NO
3	U29200TZ2007PTC014014	MC CRAFTSMAN MACHINERY PRIVATE LIMITED	Director	14/12/2007	14/12/2007	-	Active	NO

Name :

Mr. Chandrashekar Bhide

Designation :

Director

Address :

104, Ajay Thkataria Marg, Mahim, Mumbai – 400016, Maharashtra, India

Date of Birth/Age :

12.07.1948

Date of Appointment :

31.01.2011

DIN No.:

00027967

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U99999MH1986PLC040885	RING PLUS AQUA LIMITED	Director	10/6/2008	1/12/1992	24/07/2009	Active	NO
2	U28991TZ1986PTC001816	CRAFTSMAN AUTOMATION PRIVATE LIMITED	Director	30/09/2011	31/01/2011	-	Active	NO

Name :

Mr. Namit Arora

Designation :

Director

Address :

Flat No.202, 2^nd Floor, Monika Co. op Hsg S Fazal Soboni St Colaba Wood HSE Road, Mumbai – 40005, Maharashtra, India

Date of Birth/Age :

19.11.1971

Date of Appointment :

02.08.2012

Name :

Mr. K K Balu

Designation :

Director

Address :

17 /11, Syndicate Enclave Sengani Amman Koil St Maduvankarai, Chennai – 600032, Tamil Nadu, India

Date of Birth/Age :

15.09.1944

Date of Appointment :

12.11.2011

KEY EXECUTIVES

Name :	Mr. Sundaram Rajamanickam
Designation :	Secretary
Address :	3/25, Kondasamy Naidu Street, Velandipalayam, Coimbatore – 641025, Tamilnadu, India
Date of Birth/Age :	25.03.1967
Date of Appointment :	05.03.2008
PAN No.:	AEYPR5618D

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 13.09.2012

Names of Shareholders	No. of Shares
S Ravi	303750
S Murali	60750
K Gomatheswaran	40500
International Finance Corporation, USA	80803
Standard Chartered Private Limited, Mauritius	89100
Total	574903

AS ON 13.09.2012

Equity Shares Break – up

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	29.56
Directors or relatives of directors	70.44
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers, Importers and Exporters of Precision Turned Components/Parts for Automotive and Machine Tool Applications.
Products :	v Gear and Gears Boxes v Machined Castings v Automobile Parts v Air Compressor Parts v Actuators v Jigs and Fixtures v Tools and Dies etc.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Standard Chartered Bank, 509, D. B. Road, R. S. Puram, Coimbatore – 641002, Tamilnadu, India

· Indian Bank

· State Bank of India

· Exim Bank

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee Term Loans from Bank Secured	1831.827	1355.655
Working Capital from Bank Secured	888.637	612.249
Loans taken for Vehicle Loan	7.121	6.624
Total	2727.585	1974.528
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Loan from director’s Relatives	10.243	3.762
Total	10.243	3.762

Banking Relations :	--
Auditors :
Name :	G Shankar Chartered Accountants
Address :	38-1, Raghupathy Layout, Saibaba Colony, Coimbatore – 641011, Tamilnadu, India
PAN No.:	ANZPS9856J
Joint Venture :	· Carl Stahl Craftsman Enterprises P Limited · MC Craftsman Machinery P Limited
Subsidiary Company :	· Craftsman Automation Singapore Pte Limited, Singapore · Craftsman Marine BV, Netherlands
Associates/Subsidiaries :	· Ashwinram Spinning Mills Private Limited, Coimbatore · Integra Automation Private Limited, Chennai · Mastercraft Engineers Private Limited · Shanmo Engg Products India Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.100/- each	Rs.50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
471263	Equity Shares	Rs.100/- each	Rs.47.126 Millions

AS ON 13.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.100/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
574903	Equity Shares	Rs.100/- each	Rs.57.490 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		47.126	40.500	40.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1406.448	722.835	622.909
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1453.574	763.335	663.409
LOAN FUNDS
1] Secured Loans		2727.585	1974.528	1975.739
2] Unsecured Loans		10.243	3.762	1.876
TOTAL BORROWING		2737.828	1978.290	1977.615
DEFERRED TAX LIABILITIES		318.041	200.868	179.856
TOTAL		4509.443	2942.493	2820.880
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3310.688	2290.820	2124.649
Capital work-in-progress		80.929	48.875	0.000
INVESTMENT		35.982	33.733	79.326
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	961.051	685.682	615.258
	Sundry Debtors	581.961	407.550	491.525
	Cash & Bank Balances	120.962	51.253	53.873
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	811.276	370.451	199.218
Total Current Assets		2475.250	1514.936	1359.874
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	1012.341	705.591	585.247
	Other Current Liabilities	276.734	212.792	136.160
	Provisions	104.331	27.488	21.561
Total Current Liabilities		1393.406	945.871	742.968
Net Current Assets		1081.844	569.065	616.906
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4509.443	2942.493	2820.880

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Domestic Sales	2633.469	1432.511	1154.190
		Export Sales	702.757	465.051	1366.304
	GROSS EARNINGS		3336.226	1897.562	2520.494
	PROFIT AFTER TAX		245.362	104.496	89.363
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.001	0.001	0.008
Less	APPROPRIATIONS
		Proposed Dividend at 10%	4.407	4.050	85.320
		Provision for dividend Distribution Tax	0.715	0.521	4.050
		General Reserve	24.536	99.925
	BALANCE CARRIED TO THE B/S		215.705	0.001	0.001

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	NA	NA
Net Profit Margin (PBT/Sales)	(%)	NA	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	NA
Return on Investment (ROI) (PBT/Networth)		NA	NA	NA
Debt Equity Ratio (Total Debt/Networth)		1.88	2.59	2.98
Current Ratio (Current Asset/Current Liability)		1.78	1.62	1.83

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	No
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

OPERATIONS

The performance of the year 2010 - 2011 justifies the far sighted decisions of capex investment with the turnover registering a growth of 76% over previous year and the profit before tax growing by 138%. However the year 2009-10 is not strictly comparable owing to the mixed performance due to slowing economy gaining some momentum only in the last quarter of the year. The strong domestic performance especially in machining charges income softened the impact of still-struggling to regain-export growth.

GROWTH

The Company has strategically aligned itself to high growth industry segments such as commercial vehicle and agricultural vehicle of the auto segment, general engineering, locomotive etc. by serving these segment leaders who are driving the growth in the respective segments. The strong domestic growth resulted in the EBIDTA growing by 58%. The Cash generation increased to Rs.592.300 Millions in the current year from Rs.338.400 Millions in the previous year. The financial charges have gone up by 32% over previous year due increased debt and continued hike in interest rates.

However as % of sales the impact could be moderated from 11% in previous year to 8% in the current year. The ongoing projects were completed at a cost of Rs.1290.700 Millions.

EXPANSION

The Company envisaged a moderate expansion programme to mark a strategic presence in the western and northern parts of the country. In November 2010 the new unit at Pune commenced supplies to Tata Cummins Limited and Mahindra and Mahindra Limited. In April 2011 the second unit at Pune started supplying to Mahindra and Mahindra Limited, John Deere Limited and others. In August 2011, the new unit in Ballabgarh (Hariyana) went on stream to meet the requirement of JCB. With these locations the company has a pan India presence which is expected to pay rich dividends in the years to come.

NEW PROJECT

During the year the Company has bagged a prestigious order from Daimler India Commercial vehicles for machining and supply of Cylinder Head and Cylinder Block to their Oragadam Plant near Chennai. The Company is in the process of setting up a separate plant within the Arasur Unit involving capital expenditure of Rs.100.000 Millions towards building and Rs.800.000 Millions towards machinery and supporting infrastructure. The plant is under construction and the machineries have been ordered.

JOINT VENTURES

The joint venture Indian companies namely M C Craftsman Machinery Private Limited and Carl Stahl Craftsman Enterprises Private Limited have entered the market successfully and gained foothold. Their Company has equity stake of 10% and 30% respectively in these Companies. Their business prospects are robust. The relationship with other parties has been cordial and supportive. While the turnover of MC Craftsman Machinery P Ltd, increased by 82% from Rs.325.23 Lakhs in 2009-10 to Rs 5916.700 Millions in 2010-11, Carl Stahl Craftsman Enterprises Private Limited was able to register a growth in turnover by 136 % from Rs.324.40 lakhs in 2009-10 to Rs 7664.700 Millions in 2010-11.

SUBSIDIARIES

The Company has two wholly owned subsidiaries namely Craftsman Marine B.V., Netherlands and Craftsman Automation Singapore Pte Ltd, Singapore. Craftsman Marine B.V has improved their presence in the European market and their turnover has increased from Euro 689,748 in 2009-10 to Euro 1,327,232 in 2010-11 marking a growth of 92%. Their operations have stabilized and the demand for products is encouraging.

Craftsman Automation Singapore Pte Ltd, has also performed well during the year with the turnover rising by almost five times from JPY 64,158,308 in 2009-10 to JPY 362,728,740 in 2010-11. Overall the combined effect of investment in capacity expansion, augmentation of the facilities, continuous improvement in production process techniques, constant updating of employee skill levels, state of the art machines and strong quality control measures have resulted in the company emerging as a major contract manufacturer catering to the needs of industry leaders in various countries of the world.

FIXED ASSETS:

· Land

· Building – Factory

· Plant and Machinery

· Generator

· Electrical Equipment

· Energy Saving Equipments

· Furniture and Fixture

· Office Equipments

· Computers

· Vehicles

NEWS:

STANDARD CHARTERED PVT EQUITY INVESTS RS 850.000 MILLIONS IN CRAFTSMAN AUTO

Mumbai, August 9:  

Standard Chartered Private Equity (SCPE) today said it has invested Rs 850.000 Millions for a minority stake in Craftsman Automation Private Limited (CAPL), a multi-product light engineering company.

The funding from SCPE will part finance the expansion of the company’s various manufacturing facilities.

International Finance Corporation is an existing investor in CAPL.

As part of the SCPE investment, Namit Arora, Director, Standard Chartered Private Equity has joined the company’s board of directors, SCPE said in a statement here.

Coimbatore-based Craftsman Automation, a diversified light engineering company, is a manufacturer of high quality complex precision engineered machined components, industrial gear boxes, sheet metal parts and assemblies for automotive and industrial customers worldwide. It has plants in six locations in India and services customers globally including in USA, Japan, Germany, France, Italy, Switzerland, Sweden and Netherlands.

CAPL’s customer base includes General Electric (GE), Daimler, Mitsubishi, Caterpillar, Siemens, Mahindra and Mahindra (MandM), Tata Cummins, Tata Motors, Case New Holland, John Deere, TAFE, LandT Enercon, Mahindra Navistar, JCB, Brakes India, Honeywell, Simpson and Stork Print.

CAPL had set up subsidiaries that include Craftsman Marine in Netherlands for marketing its industrial application products in the marine segment via distributors in over 40 countries and Craftsman Singapore for strategic sourcing in the Asian region.

CAPL is now poised to expand its foot print via its two joint ventures — with Mitsubishi Corporation of Japan for industrial machinery and Carl Stahl of Germany for material handling.

“We are expanding our business by capitalising on large opportunities across our business segments in India and globally. CAPL has established a solid track record both in machining (high precision, critical engine and transmission components) as well as product engineering and manufacturing (vertically integrated turnkey manufacturing and design of precision engineering and standard products),” Craftsman Automation managing director S Ravi said. PTI

STANCHART PE INVESTS $15.5M IN IFC-BACKED CRAFTSMAN AUTOMATION

BY  Bruhadeeswaran R

The funding from SCPE will part finance the expansion of the Company’s various manufacturing facilities.

Standard Chartered Private Equity (SCPE) has invested Rs 850.000 Millions ($15.5 million) for a minority stake in Craftsman Automation Private Limited (CAPL), a multi-product light engineering company based out of Coimbatore.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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.54.39
UK Pound	1	Rs.82.32
Euro	1	Rs.69.54

INFORMATION DETAILS

Report Prepared by :

SDA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		42

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	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.