MIRA INFORM REPORT
|
Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDO-US MIM TEC PRIVATE LIMITED (w.e.f 21.08.2001) |
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Formerly Known
As : |
A F TECHNOLOGIES INDIA PRIVATE LIMITED |
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Registered
Office : |
Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Andhra
Pradesh |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
12.04.1996 |
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Com. Reg. No.: |
01-023794 |
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Capital
Investment / Paid-up Capital : |
Rs. 119.972 millions |
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CIN No.: [Company Identification
No.] |
U28110AP1996PTC023794 |
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PAN No.: [Permanent Account No.] |
AABCI0484L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in designs, manufactures, and supplies metal injection molding products for automotive, medical, consumer, aerospace, oil and gas, and industrial sectors worldwide. |
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No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 7000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having a fine track
record. The company has seen a significant increase in its sales turnover as well
as net profitability during 2013. General financial position is good. Trade
relations are reported as decent. Business is active. Payments are reported
to be regular and as per commitments. The company can be considered good 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years respectively.
By 2020, emerging Asia will become the world’s largest consuming block,
overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Non convertible debentures: “A+” |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
August 2013 |
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
Management non-cooperative
Tel No.: 91-80-22048800
LOCATIONS
|
Registered Office : |
Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Andhra
Pradesh, India |
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Tel. No.: |
91-40-7633638 |
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Fax No.: |
91-40-7640044 |
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E-Mail : |
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Website : |
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Headquarters & MIM Operations: |
No 45,(P) KIADB Industrial Area, Hoskote, |
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Tel. No.: |
91-80-22048800/27971418/27971416 |
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Fax No.: |
91-80-27971624 |
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E-Mail : |
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MIM & Finishing Operations: |
#45[P], KIADB Industrial Area, Doddaballapur, |
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Tel. No.: |
91-80-7630533/ 7630532 |
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Fax No.: |
91-80-27630532 |
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E-Mail : |
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Overseas Office : |
Located at:
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DIRECTORS
As on: 31.05.2013
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Name : |
Mr. Krishna Chivukula |
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Designation : |
Director |
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Address : |
35, 1st Block, RMV, 2nd Stage, Bangalore –
560091, Karnataka, India |
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Date of Birth/Age : |
27.01.1947 |
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Date of Appointment : |
12.04.1996 |
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DIN No.: |
01625119 |
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Other Directorship :
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Name : |
Ms. Chivukula Lalithadevi |
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Designation : |
Director |
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Address : |
213-539 A, No.7, Lane – 2, Himayatnagar, Hyderabad – 500029, Andhra
Pradesh, India |
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Date of Birth/Age : |
01.07.1924 |
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Date of Appointment : |
12.04.1996 |
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DIN No.: |
02368453 |
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Other Directorship :
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Name : |
Mr. Krishna Chivukula Jr |
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Designation : |
Director |
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Address : |
1 Derby LN SE, Washinton DC USA 20032222 |
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Date of Birth/Age : |
31.03.1972 |
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Date of Appointment : |
30.09.2004 |
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DIN No.: |
02483835 |
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Other Directorship :
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Name : |
Mr. Raj Roger Chivukula |
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Designation : |
Director |
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Address : |
381, Lodgewood Lane, Lafayette Co, USA - 80026 |
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Date of Birth/Age : |
01.07.1974 |
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Date of Appointment : |
30.09.2004 |
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DIN No.: |
02484081 |
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Name : |
Mr. Chandrasekhar Jagadamba |
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Designation : |
Director |
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Address : |
8026, Summerview, J fayet Ville, New York, USA - 13066 |
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Date of Birth/Age : |
12.09.1949 |
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Date of Appointment : |
30.09.2004 |
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DIN No.: |
1711450 |
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Other Directorship :
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Name : |
Mr. Parasuraman Balasubramanina |
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Designation : |
Director |
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Address : |
3DC 217, HRBR 3rd Block Kalyan Nagar, |
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Date of Birth/Age : |
14.05.1963 |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
02829480 |
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Other
Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.05.2013
|
Names of
Shareholders |
No. of Shares |
|
Krishna Chivukula |
280,906 |
|
Lalitha Sastry Chivukula |
100 |
|
Green Meadows Investments Limited, Mauritius |
10,893,656 |
|
Anuradha Koduri, USA |
136,475 |
|
Ajeet Khare |
60,000 |
|
P. Balasubramanian |
60,000 |
|
Jagadish Holla |
50,000 |
|
M. Vijaya Kumar |
50,000 |
|
T.S. Shivashankar |
50,000 |
|
D. Raja Reddy |
10,000 |
|
S. Srinivasulu |
32,000 |
|
R. Sai Krishna Rayalu |
32,000 |
|
Ravi Bapatla |
32,000 |
|
G. Umamahesh Varma |
32,000 |
|
M. Giriyappa |
30,000 |
|
N.V. Ramana Reddy |
15,000 |
|
G.B. Parameshwarappa |
15,000 |
|
A. Venkata Ramu |
10,500 |
|
N.M. Gopi |
5,000 |
|
G. Natarajan |
3,500 |
|
Gopalakrishna V. Jahaqirda |
1,500 |
|
Shankar |
5,000 |
|
Vinitha Sidharthan |
890 |
|
Renny Pereira |
550 |
|
H.C. Parashurama |
780 |
|
N. Bhaskar Reddy |
250 |
|
S. Abdul Rahim |
380 |
|
K. Ramprasad |
380 |
|
R. Premanand |
1,080 |
|
K. Krishna Rao |
40,000 |
|
T. K. Chattopadyay |
50,000 |
|
Suresh |
5,000 |
|
M. S. Krishna |
2,000 |
|
Manoj Kabre |
20000 |
|
B. Ravi Kumar |
2,000 |
|
Phanindra Babu |
5,000 |
|
N. Sreekanth |
500 |
|
J. Sreenivasulu |
500 |
|
Balaii Singh |
500 |
|
K. Manjunath |
500 |
|
Vaiiinath |
500 |
|
J. V. Ratnakara Rao |
500 |
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S. Srinivas |
500 |
|
Lakshminarayana S |
560 |
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Chidananda KM |
220 |
|
Saravanan M |
130 |
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Ramana Gowda |
220 |
|
Kotresh N |
100 |
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Raghavendra S |
250 |
|
Soma Krishna Anand HR |
330 |
|
Bindumadhav H |
380 |
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Venkatesh S |
390 |
|
Ravi Kumar B |
350 |
|
Ashok Kumar |
350 |
|
Jamal Kumar G |
330 |
|
Malgave Sachin Shrikant |
250 |
|
Atish TG |
280 |
|
Venugopal N |
190 |
|
Srihari Prasad R |
180 |
|
Chandiran M |
310 |
|
Seenappa A |
230 |
|
Hilson Samuel |
530 |
|
Raghunand MA |
230 |
|
Pradip Panalal Shah |
10,000 |
|
Gaurav Swarup |
10,000 |
|
John Anthony Dexheimer |
35,000 |
|
Total |
11,997,257 |
Equity Share Break up (Percentage of Total Equity)
As on: 31.05.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
91.00 |
|
Directors or relatives of directors |
|
4.00 |
|
Other top fifty shareholders |
|
5.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in designs, manufactures, and supplies metal injection molding products for automotive, medical, consumer, aerospace, oil and gas, and industrial sectors worldwide. |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
P Murali and Company Chartered Accountants |
|
Address : |
361, 13th
Main, RMV Extension, Bangalore - 560 080, Karnataka, India |
|
Tel. No.: |
91-80-23613743 |
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Fax No.: |
9180-2366209 |
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PAN No.: |
AADFP2033K |
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|
Associate/ Fellow
Subsidiary company: |
CIN No.: U24230AP1994PTC018752
CIN No.: U45201AP1998PTC030483 |
CAPITAL STRUCTURE
As on: 31.05.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11997257 |
Equity Shares |
Rs.10/- each |
Rs. 119.972
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
119.972 |
119.972 |
119.972 |
|
(b) Reserves & Surplus |
1633.841 |
1050.852 |
871.388 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1753.813 |
1170.824 |
991.360 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1113.897 |
1094.561 |
630.455 |
|
(b) Deferred tax liabilities (Net) |
154.048 |
126.506 |
92.348 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
13.252 |
10.885 |
6.840 |
|
Total Non-current
Liabilities (3) |
1281.197 |
1231.952 |
729.643 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
342.455 |
423.138 |
286.797 |
|
(b) Trade payables |
288.123 |
278.446 |
364.399 |
|
(c) Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
501.874 |
257.909 |
286.864 |
|
Total Current
Liabilities (4) |
1132.452 |
959.493 |
938.060 |
|
|
|
|
|
|
TOTAL |
4167.462 |
3362.269 |
2659.063 |
|
|
|
|
|
|
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1987.131 |
1790.378 |
1291.451 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
200.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
583.193 |
670.938 |
475.823 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
140.000 |
|
Total Non-Current
Assets |
2770.324 |
2461.316 |
1907.274 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
467.879 |
254.149 |
153.771 |
|
(c) Trade receivables |
596.591 |
433.467 |
466.445 |
|
(d) Cash and cash equivalents |
65.768 |
118.337 |
131.573 |
|
(e) Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
266.900 |
95.000 |
0.000 |
|
Total Current Assets |
1397.138 |
900.953 |
751.789 |
|
|
|
|
|
|
TOTAL |
4167.462 |
3362.269 |
2659.063 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Revenue |
3784.689 |
3032.126 |
2448.754 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1446.057 |
788.063 |
808.943 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
199.803 |
187.998 |
88.842 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1246.254 |
600.065 |
720.101 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
197.545 |
172.471 |
123.974 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1048.709 |
427.594 |
596.127 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
354.172 |
136.582 |
206.476 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
694.537 |
291.012 |
389.651 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
903.643 |
753.235 |
475.839 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
111.548 |
111.549 |
55.774 |
|
|
|
Dividend |
69.454 |
29.064 |
110.660 |
|
|
|
Disposable Surplus |
1528.717 |
1015.183 |
809.009 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
57.89 |
24.23 |
32.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.43 |
12.71 |
22.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.60 |
0.37 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.84 |
1.30 |
0.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
0.93 |
0.80 |
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 |
Yes |
|
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 |
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10385693 |
21/11/2012 * |
180,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B64277841 |
|
2 |
10332986 |
21/11/2012 * |
220,000,000.00 |
STANDARD CHARTERED BANK |
RAHEJA TOWERS, 26-27, M G ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
B62752399 |
|
3 |
10326670 |
19/12/2011 |
200,000,000.00 |
STANDARD CHATERED BANK |
RAHEJA TOWERS, 26-27, M G ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
B29158979 |
|
4 |
10315619 |
12/09/2011 |
100,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE
BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - |
B24522039 |
|
5 |
10308749 |
12/09/2011 |
300,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE
BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - |
B21884259 |
|
6 |
10283626 |
30/06/2011 * |
100,000,000.00 |
IDBI BANK LIMITED |
IDBI BANK LIMITED, 102, SHAKTHI COMFORTS TOWER, K |
B17125824 |
|
7 |
10256513 |
30/06/2011 * |
210,000,000.00 |
ING VYSYA BANK LIMITED |
22, M G ROAD,BANGALORE, BANGALORE, KARNATAKA - 560001, INDIA |
B17029158 |
|
8 |
10249482 |
31/08/2012 * |
350,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, EXPRESS BUILDING, SECOND FLOOR,
NO 1, QUEENS ROAD, BANGALORE, KARNATAKA - |
B58502360 |
|
9 |
10248801 |
30/06/2011 * |
100,000,000.00 |
BANK OF BARODA |
PALACE ORCHARDS BRANCH, SADASIVA NAGAR, NEW NO.3, |
B17090671 |
|
10 |
10219734 |
30/06/2011 * |
100,000,000.00 |
ING VYSYA BANK LIMITED |
22, M G ROAD,BANGALORE, BANGALORE, KARNATAKA - 560 |
B17028507 |
|
11 |
10146107 |
30/06/2011 * |
100,000,000.00 |
IDBI BANK LIMITED |
IDBI BANK LIMITED, 102, SHAKTHI COMFORTS TOWER, K |
B17107012 |
|
12 |
10114432 |
30/06/2011 * |
85,200,000.00 |
ING VYSYA BANK LIMITED |
22, M G ROAD,BANGALORE, BANGALORE, KARNATAKA - 560001, INDIA |
B17025859 |
|
13 |
90259049 |
20/04/2007 * |
170,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, NO.66 ST MARKS ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
A15835499 |
|
14 |
90119350 |
18/10/2012 * |
696,300,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, NO.65, ST. MARK'S ROAD, LHO COMPOUND, BANGALORE, KARNATAKA - 560001, INDIA |
B63953285 |
|
15 |
90116406 |
02/01/2012 * |
275,000,000.00 |
ING VYSYA BANK LIMITED |
22,GROUND FLOOR, ING VYSYA HOUSE,M.G.ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
B30891857 |
* Date of charge modification
NEWS
FIRST INDIAN COMPANY TO
WIN PRATT AND WHITNEY MCL APPROVAL
Indo-MIM, based on two campuses near Bangalore, has won approvals from Pratt and Whitney America’s Materials Control Laboratory (MCL) to perform non-destructive testing and chromic acid anodizing. The approvals have come after extensive auditing of Indo-MIM by Pratt and Whitney America, and are the first such approvals granted within India.
Founded in 1997, Indo-MIM is the world leader in metal injection molding. Major customers such as Honeywell, TRW and Bosch rely on Indo-MIM’s flexibility, scale and quality to meet growing customer demand in automotive, industrial and commercial applications.
The aerospace products group division was started in 2010 to provide an end to end solution of machining and special process for India’s growing aerospace sector. Working with materials like aluminum, inconel, titanium, Monel, and hardened steel, Indo-MIM machining has the capability to meet complex customer requirements with state of the art engineering and technology. In the special process facility, a vast array of capabilities is available in one shop; NDT, anodizing, passivation, plating, painting, grit blasting and more. Together, the range of products available on one campus, and using one quality system is unmatched in India.
FIXED ASSETS:
- Land and
development
- Buildings
- Plant and
machinery
- Furniture and
fixtures
- Office
equipment
- Vehicles
- Computers and
software
- Electrical
installation
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.62.49 |
|
|
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.