MIRA INFORM REPORT
|
Report Date : |
16.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
BUNDY INDIA LIMITED |
|
|
|
|
Formerly Known
As : |
BUNDY TUBING OF INDIA LIMITED |
|
|
|
|
Registered
Office : |
No. 2, G.I.D.C. Industrial Estate, Makarpura, Vadodara – 390010,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
01.05.1996 |
|
|
|
|
Com. Reg. No.: |
04-029520 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 100.464
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29199GJ1996PLC029520 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDB00700A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB3039M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Automotive Components, Tubes and Fuel Handling
Products. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘TI Automotive Holdings Limited, UK’. It is
an established company having a satisfactory track record. The company is continuously incurring losses from its last 2 years of
operations. However, general financial
position of the company is satisfactory. Trade relations are reported as decent. Business is active. Payment
terms are usually correct and as per commitments. The company can be considered 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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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. Vipul Rana |
|
Designation : |
Purchase Department |
|
Contact No.: |
91-265-2642621 |
|
Date : |
14.11.2013 |
LOCATIONS
|
Registered Office : |
No. 2, G.I.D.C. Industrial Estate, Makarpura, Vadodara – 390010,
Gujarat, India |
|
Tel. No.: |
91-265-2642621/ 2643861/ 2643862 |
|
Fax No.: |
91-265-2638364 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq mtrs. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
No.13C, 6th Main 3rd Phase, Peenya Industrial
Area, Bangalore – 560058, Karnataka, India |
|
Location : |
Rented |
|
|
|
|
Factory 2 : |
Plot No. 39 and 40, Sector No. 3, Ch. Devilal IMT, Manesar, Gurgaon – 122050,
Haryana, India |
|
Tel. No.: |
91-124-2842701/ 2842809 |
|
Fax No.: |
91-124-2842801 |
|
Location : |
Owned |
DIRECTORS
AS ON 28.06.2012
|
Name : |
Mr. Ravibabu Turlapati |
|
Designation : |
Managing director |
|
Address : |
323-B, Hamilton Court, DLF Phase –IV, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
30.03.1959 |
|
Qualification : |
CA/ CS |
|
Date of Appointment : |
01.07.2003 |
|
PAN No.: |
AAVPT1123A |
|
DIN No.: |
00302698 |
|
|
|
|
Name : |
Mr. Akhilesh Rai |
|
Designation : |
Chairman |
|
Address : |
1/18, Veeram Khand, Gomti Nagar, Lucknow – 226010, Uttar Pradesh,
India |
|
Date of Birth/Age : |
28.07.1948 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.02.1997 |
|
DIN No.: |
00317330 |
|
|
|
|
Name : |
Mr. Ravi Kant Sharma |
|
Designation : |
Whole-time director |
|
Address : |
801, Block -14, Heritage City, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
20.05.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.01.2005 |
|
PAN No.: |
ACMPS0766R |
|
DIN No.: |
00335648 |
|
|
|
|
Name : |
Mr. Phillip Stephenson |
|
Designation : |
Director |
|
Address : |
37, Stonehenge Ave, Sterling-5152, South Australia |
|
Date of Birth/Age : |
24.10.1949 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
23.09.2002 |
|
DIN No.: |
00426606 |
|
|
|
|
Name : |
Mr. Van Boxlaer Olivier |
|
Designation : |
Whole-time director |
|
Address : |
House No.3/302, Valalar Street, Natarajan Avenue, Uthandi, ECR, Chennai
– 600119, Tamilnadu, India |
|
Date of Birth/Age : |
31.03.1976 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
28.03.2011 |
|
PAN No.: |
ALIPV4394F |
|
DIN No.: |
03553923 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Sharma |
|
Designation : |
Secretary |
|
Address : |
B-86, Ashok Vihar, Phase-I, Delhi – 110052, India |
|
Date of Birth/Age : |
28.07.1963 |
|
Date of Appointment : |
17.06.2009 |
|
PAN No.: |
ADFPS3888Q |
|
|
|
|
Name : |
Mr. Vipul Rana |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.06.2012
Note: Shareholder
details file attached.
AS ON 28.06.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Nationalized of
other banks |
0.01 |
|
Foreign holdings( Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or
Overseas Corporate bodies or Others |
96.90 |
|
Bodies corporate |
0.05 |
|
Others |
3.04 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Components, Tubes and Fuel Handling
Products. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Credit |
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|
Purchasing : |
L/C, Credit |
PRODUCTION STATUS (AS ON 31.12.2010)
|
Particulars |
Unit |
Licenced/
Approved Capacity (Note 1) |
Installed
Capacity (Note
2) |
Production/
Purchase Quantity |
|
Single wall tubes / Copper coated steel
tubes |
Meters |
-- |
380 Lacs |
37238974 (Note
3) |
|
Brakes and Fuel Lines and Other Components |
Numbers |
-- |
-- |
15057470 |
|
|
|
|
|
|
Notes:
(1) Licensing has
been abolished vide Press Note No.9 dated 2nd August 1991 and
Notification No.S.C.477(E) dated 25th July 1991 issued by the
Government of India.
(2) As certified by the technical head
of the Company and accepted by the Auditors.
(3) Includes 15,448,860 Meters for captive consumption.
GENERAL INFORMATION
|
Customers : |
|
||||||||||||||||||
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|
||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
||||||||||||||||||
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Bankers : |
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||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Muttha Towers, 5th Floor, Suite No. 8, Yerwada, Pune, Maharashtra,
India |
|
PAN No.: |
AADFP9359C |
|
|
|
|
Holding Company : |
TI Automotive Holdings Limited, UK |
|
|
|
|
Ultimate Holding Company : |
IT Fluid Systems Limited |
|
|
|
|
Fellow Subsidiaries : |
·
Bundy Fluid System (Tianjin) Company Limited ·
Bundy Fluid Systems (Shanghai) Company Limited,
Shanghai ·
Bundy Fluid Systems Limited, China ·
Bundy Tubing Company (Australia) Pty. Limited ·
Hanil Tube Corporation, Korea ·
Hanil Tube India Private Limited
[U34100TN2007PTC064240] ·
TI Automotive (Ettlingen) GmbH ·
TI Automotive (Thailand) Limited ·
Ti Automotive Canada ·
TI Automotive Limited, Korea ·
TI Automotive Systems (Changchun) Company Limited ·
TI Automotive System (Shanghai) Company Limited ·
TI Automotive Systems, Japan ·
TI Automotive Technology Centre GmbH, Germany ·
TI Automotive(Fuldabruk) GmbH, Germany ·
TI Automotive, Marysville ·
TI Brasil Industriae Comercio Ltda ·
TI Group Automotive Systems (Belgium) S.A. ·
TI Group Automotive Systems (Deeside) Limited ·
TI Group Automotive Systems AB, Sweden ·
TI Group Automotive Systems France ·
TI Group Automotive Systems Limited, UK ·
TI Group Automotive Systems Llc, USA ·
Wuhan Bundy Fluid Systems Company Limited |
CAPITAL STRUCTURE
AS ON 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10046448 |
Equity Shares |
Rs.10/- each |
Rs. 100.464
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
100.464 |
90.001 |
|
(b) Reserves & Surplus |
|
442.806 |
427.302 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
107.773 |
|
Total
Shareholders’ Funds (1) + (2) |
|
543.270 |
625.076 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
167.448 |
163.464 |
|
(b) Deferred tax liabilities (Net) |
|
2.158 |
39.650 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
30.623 |
21.773 |
|
Total Non-current
Liabilities (3) |
|
200.229 |
224.887 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
87.676 |
35.000 |
|
(b) Trade
payables |
|
673.153 |
433.974 |
|
(c) Other
current liabilities |
|
15.195 |
26.912 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
776.024 |
495.886 |
|
|
|
|
|
|
TOTAL |
|
1519.523 |
1345.849 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
656.214 |
419.170 |
|
(ii)
Intangible Assets |
|
1.486 |
2.744 |
|
(iii)
Capital work-in-progress |
|
9.682 |
118.832 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.100 |
0.101 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
129.759 |
121.330 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
797.241 |
662.177 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
228.421 |
217.849 |
|
(c) Trade
receivables |
|
344.424 |
351.821 |
|
(d) Cash
and cash equivalents |
|
20.227 |
23.241 |
|
(e)
Short-term loans and advances |
|
129.210 |
90.761 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
722.282 |
683.672 |
|
|
|
|
|
|
TOTAL |
|
1519.523 |
1345.849 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
79.258 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
330.333 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
409.591 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
73.640 |
|
|
TOTAL BORROWING |
|
|
73.640 |
|
|
DEFERRED TAX LIABILITIES |
|
|
27.440 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
510.671 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
408.743 |
|
|
Capital work-in-progress |
|
|
13.289 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.101 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
173.035
|
|
|
Sundry Debtors |
|
|
272.276
|
|
|
Cash & Bank Balances |
|
|
18.645
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
80.689
|
|
Total
Current Assets |
|
|
544.645 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
404.619
|
|
|
Other Current Liabilities |
|
|
32.557
|
|
|
Provisions |
|
|
18.931
|
|
Total
Current Liabilities |
|
|
456.107 |
|
|
Net Current Assets |
|
|
88.538
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
510.671 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2226.789 |
1913.667 |
1210.793 |
|
|
|
Other Income |
10.063 |
12.691 |
20.098 |
|
|
|
TOTAL (A) |
2236.852 |
1926.358 |
1230.891 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
1611.848 |
1417.601 |
|
|
|
|
Employee benefits expenses |
169.215 |
134.371 |
|
|
|
|
Other Expenses |
441.931 |
346.156 |
|
|
|
|
Changes in inventories of Finished goods, work in progress and stock
in trade |
61.022 |
(38.385) |
|
|
|
|
TOTAL (B) |
2284.016 |
1859.743 |
1149.561 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(47.164) |
66.615 |
81.330 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.806 |
17.981 |
11.876 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(67.970) |
48.634 |
69.454 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
51.328 |
39.345 |
35.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(119.298) |
9.289 |
34.218 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(37.492) |
12.229 |
9.876 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(81.806) |
(2.940) |
24.342 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
75.915 |
78.855 |
54.513 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(5.891) |
75.915 |
78.855 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
6.148 |
6.662 |
0.000 |
|
|
|
Services rendered |
36.088 |
32.788 |
30.204 |
|
|
TOTAL EARNINGS |
42.236 |
39.450 |
30.204 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials & Consumables |
160.483 |
59.551 |
61.900 |
|
|
|
Bought out Tubes, Components and Chemicals |
378.803 |
216.619 |
133.441 |
|
|
|
Plastic Fuel Tanks |
287.680 |
420.886 |
190.186 |
|
|
|
Capital Goods |
22.717 |
60.105 |
16.676 |
|
|
|
Spares |
7.774 |
3.521 |
1.430 |
|
|
TOTAL IMPORTS |
857.457 |
760.682 |
403.633 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(8.14) |
(0.33) |
3.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
(3.66)
|
(0.15) |
1.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(5.36)
|
0.49 |
2.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.90)
|
0.76 |
3.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.22)
|
0.02 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.47
|
0.32 |
0.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93
|
1.38 |
1.19 |
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
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
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 |
No |
|
34] |
External Agency Rating,
if available |
No |
|
Unsecured Loan |
Rs.
In Millions 31.12.2012 |
Rs.
In Millions 31.12.2011 |
|
Long Term
Borrowings |
|
|
|
Fully Convertible Debentures others |
36.000 |
36.000 |
|
Term Loans from Others |
131.448 |
127.464 |
|
|
|
|
|
TOTAL |
167.448 |
163.464 |
CURRENT MATURITIES
OF LONG TERM DEBT
(Rs.
In Millions)
|
Particulars |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
Current Maturities Of Long Term Debt |
NA |
NA |
NA |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
VIEW INDEX OF CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10065922 |
17/08/2007 |
50,000,000.00 |
STATE BANK OF INDIA |
SPECIAL COMMERCIAL BRANCH, TRIDENT COMPLEX,
2ND |
A22169007 |
|
2 |
10057424 |
22/06/2007 |
50,000,000.00 |
STATE BANK OF INDIA |
SPECIAL COMMERCIAL BRANCH, TRIDENT
COMPLEX, 2ND |
A17818220 |
|
3 |
10043974 |
22/03/2007 |
90,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 2ND FLOOR, TRIDENT,
RACE COURSE, VADODARA, GUJARAT - 390007, INDIA |
A12970539 |
|
4 |
10045171 |
22/03/2007 |
90,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, TRIDENT COMPLEX, RACE
COURSE, |
A12970752 |
FINANCIAL RESULTS AND OPERATIONS
During the year
2012, the Company has set up additional facilities in Pune and Chennai. Going forward
with the objective of nearness to the customer Pune facility has been set up to
meet the requirements of Mahindra and Mahindra, General Motors, Volkswagen and
Fiat. A world class facility to manufacture plastic fuel tanks involving
multilayer low permeability technology has been set up in Chennai.
Market slowdown
seriously impacted sales during the second half of the year, negating the
growth achieved in the first half of the year. While passenger vehicle market
to which the company caters has grown by about 10% during the year 2012, the
company sales have increased by over 16%.
Steep fall in
rupee value against major currencies during the year, delay in construction of
building and commencement of local manufacture of plastic fuel tanks in Chennai,
have seriously impacted the profitability of the Company for the year 2012.
This has resulted in company incurring a loss of Rs 1190.000 Millions as
against a modest profit of Rs 9.200 Millions previous year.
While concerns
remain due to continued slowdown in the market during the first of the current
year, the board of directors is cautiously optimistic about market revival
during the later part of the year. Strategies and plans are in place and geared
up to meet the market challenges.
FIXED ASSETS
Tangible Assets
v Freehold Land
v Leasehold Land
v Buildings – Office and Factory
v Plant and Machinery
v Furniture and Fittings
v Office Equipments
v Computers and Accessories – Hardware
v Vehicles
Intangible Assets
v Technical Knowhow
v Computer
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.06 |
|
UK Pound |
1 |
Rs. 101.14 |
|
Euro |
1 |
Rs. 84.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
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 |
|
45 |
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.