MIRA INFORM REPORT
|
Report Date : |
10.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
NEEL METAL PRODUCTS LIMITED (w.e.f. 26.03.1999) |
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Formerly Known
As : |
EXCELLENT
SERVICES LIMITED |
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Registered
Office : |
601, Hemkunt Chambers,
89, Nehru Place, New Delhi – 110019 |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
04.04.1997 |
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Com. Reg. No.: |
55-086432 |
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Capital
Investment / Paid-up Capital : |
Rs. 97.520
Millions |
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|
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CIN No.: [Company Identification
No.] |
U74899DL1997PLC086432 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RTKN00867G |
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PAN No.: [Permanent Account No.] |
AABCN6304Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and
Exporter of sheet metal components, assemblies, sub-assemblies and blanks. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
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 15450000 |
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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 an established company having good track record. Fundamentals of the company is decent. Financial position of the
company is strong and healthy. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans: “A+” |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
October, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Fund based limits: “A1+” |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
October, 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.: 91-11-26427104)
LOCATIONS
|
Registered Office : |
601, Hemkunt
Chambers, 89, Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
91-11-26427104/
06 |
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Fax No.: |
91-11-26427100 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Thai Summit Neel Auto Private Limited, Behrampur Industrial Area, Begampur Khatola Road, Khandsa Village, Gurgaon-122001, Haryana, India |
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Tel. No.: |
91-124-4199500-507 |
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Fax No.: |
91-124-4199548-49 |
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Factory 1 : |
Mohammadpur,
Jharsa, Sector 36, Near Khandsa Village, Gurgaon - 122001, Haryana, India |
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Tel. No.: |
91-124-4275055 /
4032011/ 13 |
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Fax No.: |
91-124-2370987 |
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Factory 2: |
Sector-36,
Mohmmadpur Jharsa, Near Khandsa Village, Gurgaon – 122001, Haryana, India |
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Tel No: |
91-124-4032011 / 4032013 /
2370985 / 2370986 |
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Fax No: |
91-124-2370989 |
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Factory 3 : |
Plot No. 268,
Secuter – 24, Faridabad – 121005, Haryana, India |
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Tel. No.: |
91-129-5067013 |
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Location : |
Owned |
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Factory 4: |
4-6 and 11-16,
Sector-5, Integrated Industrial Estate Ranipur, Haridwar - 249403, Uttranchal,
India |
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Tel No.: |
91-1334-239215/
239214 |
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Fax No.: |
91-1334-239185 |
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Factory 5: |
Plot No. 8,
Sector-10, I.I.E, S.I.D.C.U.L, Udham Singh Nagar, Pantnagar-263153, |
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Tel No.: |
91-5944-250051 |
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Fax No.: |
91-5944-250050 |
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Factory 6: |
Plot No.5, Maruti Joint Venture Complex, Gurgaon
– 122015, Haryana, India |
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Tel No: |
91-124-2398446 / 2398448 |
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Fax No: |
91-124-2341321 |
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Factory 7: |
Sector-36, Mohmmadpur
Jharsa, Near Khandsa Village, Gurgaon – 122001, Haryana, India |
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Tel No: |
91-124-2370612 / 2370615 |
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Fax No: |
91-124-2371356 |
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Factory 8 : |
Plat No 22, Sector 12, ITBT Park, S.I.D.C.U.L., Pantnager, Uttarakhand, India |
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Factory 9 : |
VPO Baskulsa, Opposite Sector 7, IMT Manesar, Gurgaon – 122005, Haryana, India |
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Factory 10 : |
E-41, Khushkhera Industrial Area, District Alwar, Rajasthan, India |
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Branch Office/ Factory 11 : |
92/1, Shivarapattana Village - Maluro Taluka, Narasapura – 560001, Karnataka, India |
DIRECTORS
As on 23.09.2013
|
Name : |
Mr. Surendra Kumar Arya |
|
Designation : |
Director |
|
Address : |
Neelanchal No.7, |
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Date of Birth/Age : |
10.11.1957 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.05.2002 |
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PAN No.: |
ACNPA3721H |
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DIN No.: |
00004626 |
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|
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|
Name : |
Ms. Esha Arya Juhujhunwala |
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Designation : |
Whole Time Director |
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Address : |
Neelanchal # 7, Bandh Road, Chandan Hulla Mehrauli, New Delhi-110030, |
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Date of Birth/Age : |
16.03.1982 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
01.08.2012 |
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Experience : |
4 Years |
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PAN No.: |
ADQPA8616C |
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DIN No.: |
00004836 |
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|
Name : |
Mr. Nishant Arya |
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Designation : |
Whole Time
Director |
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Address : |
Neelanchal No.7, |
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Date of Birth/Age : |
01.11.1986 |
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Qualification : |
Post Graduate |
|
Experience : |
6 Years |
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Date of Appointment : |
01.07.2010 |
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PAN No.: |
AGZPA5633Q |
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DIN No.: |
00004954 |
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|
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Name: |
Mr. Vinay
Maheshwari |
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Designation: |
Whole Time
Director |
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Address : |
702, |
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Date of
Birth/Age : |
13.09.1954 |
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Qualification : |
Engineer |
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Date of
Appointment : |
24.01.2013 |
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PAN No.: |
AIYPM2987Q |
|
DIN No.: |
01277826 |
KEY EXECUTIVES
|
Name : |
Mr. Vivek Gupta |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 703,
Plot No.7GH, Green Wood, Society, Sector – 47, Gurgaon – 122001, |
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Date of Birth/Age : |
15.06.1969 |
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Date of Appointment : |
01.04.2001 |
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PAN No.: |
AEWPG9867P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
SMC Credits Limited, India |
|
965000 |
|
A To Z Securities Limited, India |
|
965000 |
|
Surendra Kumar Arya |
|
2985999 |
|
ANS Holding Private Limited, India |
|
4680000 |
|
Neelam Arya |
|
65000 |
|
Esha Arya Jhunjhunwala |
|
1 |
|
Nishant Arya |
|
91000 |
|
Total |
|
9752000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Corp. Steel JFE,
Japan |
|
100000 |
|
Corp. One Metal,
Japan |
|
50000 |
|
Total |
|
150000 |
As on 23.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
67.78 |
|
Directors or relatives of Directors |
32.22 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of sheet metal components, assemblies, sub-assemblies and blanks. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· Ing Vysya Bank Limited, Narian Manzil, Ground Floor, Shop No. G1 To G5, I Floor, Shop No.1001 To 1007,Barakhamba Road, New Delhi - 110001, India · Standard Chartered Bank, Credit Documentation Unit, Narain Manzil, 23 Barakhamba Road, New Delhi - 110001, India · DBS Bank Limited (Acting As An Security Agent), Capitol Point, Baba Kharak Singh Marg,, Connaught Place, New Delhi - 110001, India · DBS Bank Limited, Upper Ground Floor, 25, Barakhamba Road, New Delhi - 110001, India · Indusind Bank Limited, Gopal Das Bhawan, 28, Barakhamba Road, New Delhi - 110001, India · Canara Bank · ICICI Bank Limited · DBS Bank Limited · Axis Bank Limited · Yes Bank Limited · State Bank of India · Kotak Mahindra Bank Limited · HDFC Bank Limited · Citi Bank Limited |
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Facilities : |
NOTE LONG TERM
BORROWINGS External Commercial Borrowings are secured by way of first pari passu charge on the movable and immovable fixed assets of the Company and also secured by second pari passu charge on the current assets of the Company except Rs 254.950 Millions Secured by first and exclusive charge on movable fixed assets purchased/to be purchased, so as to provide an asset cover of 1.5 times the loan amount at market valuation. External Commercial Borrowings are secured by way of first
pari passu charge on the moveable and immoveable fixed assets of the Company
and also secured by second pari passu charge on the current assets of the
Company except Rs 223.810 Millions Secured by first and exclusive charge on
movable fixed assets purchased/to be purchased,so as to provide an asset
cover of 1.5 times the loan amount at market valuation. |
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
Ge Capital Services India, 401, 402, 4th Floor, Aggarwal Millennium Tower,, E-1,2,3, Netaji Subhash Place, Wazirpur,, New Delhi - 110034, Delhi, India |
|
|
|
|
Auditors : |
|
|
Name : |
Sahni Natarajan
and Bahl Chartered
Accountants |
|
Address : |
303, Mansarovar,
90 Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
91-11-26484835 /
2643495926224755/ 26433003/ 3004/ 3006/ 47347000 |
|
Fax No.: |
91-11-26485081 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS5696R |
|
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|
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Joint venture: |
· Arcelor Neel Tailored Blank Private Limited CIN No.: U28111DL2006PTC155129 · M J Casting Limited CIN No.: U28900DL2010PLC211731 |
|
|
|
|
Subsidiary company: |
· Neel Metal Fanalca Environment Management Private Limited CIN No.: U74140DL2007PTC158597 · ANS Steel Tubes Limited CIN No.: U13203DL2007PLC164433 · JBM Motors Limited CIN No.: U28910DL2008PLC185040 · JBM Cadmium Private Limited CIN No.: U80302DL2009PTC190802 · JBM Kanemitsu Pulleys Private Limited CIN No.: U29253HR2012PTC046397 · Neel Auto Private Limited CIN No.: U34300DL2003PTC123285 · JBM Projects and Infrastructure Private Limited CIN No.: U45200DL2008PTC178619 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
· JAY Bharat Maruti Limited CIN No.: L29130DL1987PLC027342 · JBM Industries Limited CIN No.: U27109DL1982PLC084678 · JBM Auto Limited CIN No.: L74899DL1996PLC083073 · JBM Builders Private Limited CIN No.: U74899DL1991PTC044376 · JBM Environment Management Private Limited CIN No.: U74140DL2008PTC172320 |
CAPITAL STRUCTURE
After 23.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
Rs. 10/- each |
Rs. 180.000
Millions |
|
200000 |
Preferences Shares capital Subscribe
|
Rs. 100/- each |
Rs. 20.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 200.000 Millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9752000 |
Equity Shares |
Rs. 10/- each |
Rs. 97.520
Millions |
|
150000 |
Preferences Shares capital Subscribe
|
Rs. 100/- each |
Rs. 15.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 112.520 Millions |
As on 23.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
Rs. 10/- each |
Rs. 180.000
Millions |
|
200000 |
Preferences Shares capital Subscribe
|
Rs. 100/- each |
Rs. 20.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 200.000 Millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9752000 |
Equity Shares |
Rs. 10/- each |
Rs. 97.520
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
97.520 |
112.520 |
112.520 |
|
(b) Reserves & Surplus |
3765.159 |
3117.148 |
2433.492 |
|
(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) |
3862.679 |
3229.668 |
2546.012 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1233.051 |
641.282 |
535.348 |
|
(b) Deferred tax liabilities (Net) |
318.450 |
270.573 |
250.992 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
24.545 |
20.813 |
14.490 |
|
Total Non-current
Liabilities (3) |
1576.046 |
932.668 |
800.830 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1259.286 |
1238.391 |
715.685 |
|
(b) Trade
payables |
1415.921 |
1273.005 |
1494.335 |
|
(c) Other
current liabilities |
835.346 |
515.292 |
470.950 |
|
(d) Short-term
provisions |
52.716 |
61.282 |
99.166 |
|
Total Current
Liabilities (4) |
3563.269 |
3087.970 |
2780.136 |
|
|
|
|
|
|
TOTAL |
9001.994 |
7250.306 |
6126.978 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3557.178 |
2893.703 |
2034.837 |
|
(ii)
Intangible Assets |
1.999 |
4.535 |
2.507 |
|
(iii)
Capital work-in-progress |
359.962 |
101.214 |
79.564 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2050.774 |
1270.514 |
1020.053 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
576.908 |
657.116 |
495.565 |
|
(e) Other
Non-current assets |
44.445 |
32.010 |
10.733 |
|
Total Non-Current
Assets |
6591.266 |
4959.092 |
3643.259 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1223.825 |
1018.769 |
1167.055 |
|
(c) Trade
receivables |
863.154 |
907.751 |
907.030 |
|
(d) Cash
and cash equivalents |
18.581 |
20.613 |
20.250 |
|
(e)
Short-term loans and advances |
189.922 |
227.585 |
329.113 |
|
(f) Other
current assets |
115.246 |
116.496 |
60.271 |
|
Total
Current Assets |
2410.728 |
2291.214 |
2483.719 |
|
|
|
|
|
|
TOTAL |
9001.994 |
7250.306 |
6126.978 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13394.058 |
12492.733 |
11757.238 |
|
|
|
Other Income |
166.297 |
143.229 |
88.364 |
|
|
|
TOTAL (A) |
13560.355 |
12635.962 |
11845.602 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
10243.625 |
9625.614 |
9287.769 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(164.1660 |
(40.427) |
(118.243) |
|
|
|
Employees benefits expense |
937.303 |
742.020 |
575.308 |
|
|
|
Other expenses |
1141.430 |
937.610 |
782 |
|
|
|
TOTAL (B) |
12158.192 |
11264.817 |
10526.834 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
1402.163 |
1371.145 |
1318.768 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
266.463 |
280.317 |
151.576 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1135.700 |
1090.828 |
1167.192 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
256.176 |
187.385 |
154.412 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
879.524 |
903.443 |
1012.780 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
212.009 |
199.654 |
215.062 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
667.515 |
703.789 |
797.718 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
82.13 |
82.13 |
82.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.92 |
5.57 |
6.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.57 |
7.23 |
8.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.34 |
15.37 |
20.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.28 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.65 |
0.58 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.68 |
0.74 |
0.89 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
112.520 |
112.520 |
97.520 |
|
Reserves & Surplus |
2433.492 |
3117.148 |
3765.159 |
|
Net
worth |
2546.012 |
3229.668 |
3862.679 |
|
|
|
|
|
|
long-term borrowings |
535.348 |
641.282 |
1233.051 |
|
Short term borrowings |
715.685 |
1238.391 |
1259.286 |
|
Total
borrowings |
1251.033 |
1879.673 |
2492.337 |
|
Debt/Equity
ratio |
0.491 |
0.582 |
0.645 |
s
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
11757.238 |
12492.733 |
13394.058 |
|
|
|
6.256 |
7.215 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
11757.238 |
12492.733 |
13394.058 |
|
Profit |
797.718 |
703.789 |
667.515 |
|
|
6.78% |
5.63% |
4.98% |
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 |
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10486236 |
27/03/2014 |
167,000,000.00 |
GE CAPITAL SERVICES INDIA |
401, 402, 4TH FLOOR, AGGARWAL MILLENNIUM TOWER, E-1,2,3, NETAJI SUBHASH PLACE, WAZIRPUR, NEW DELHI, DELHI - 110034, INDIA |
C00953281 |
|
2 |
10393227 |
19/10/2013 * |
250,000,000.00 |
DBS BANK LIMITED |
CAPITOL POINT, BABA KHARAK SINGH MARG, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B89157374 |
|
3 |
10393231 |
29/11/2013 * |
570,000,000.00 |
DBS BANK LIMITED(ACTING AS AN SECURITY AGENT) |
CAPITOL POINT, BABA KHARAK SINGH MARG, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B92502319 |
|
4 |
10367914 |
18/12/2013 * |
500,000,000.00 |
GE CAPITAL SERVICES INDIA |
401, 402, 4TH FLOOR, AGGARWAL MILLENNIUM TOWER, E-1,2,3, NETAJI SUBHASH PLACE, WAZIRPUR, NEW DELHI, DELHI - 110034, INDIA |
B91799536 |
|
5 |
10322916 |
18/09/2013 * |
310,000,000.00 |
STANDARD CHARTERED BANK |
CREDIT DOCUMENTATION UNIT(ACTING AS SECURITY AGENT |
B87046199 |
|
6 |
10325831 |
16/09/2013 * |
500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
B87205910 |
|
7 |
10310590 |
20/03/2014 * |
750,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
C00878215 |
|
8 |
10303505 |
22/12/2012 * |
300,000,000.00 |
ING VYSYA BANK LIMITED |
NARIAN MANZIL, GROUND FLOOR,SHOP NO. G1 TO G5, I |
B66261249 |
|
9 |
10264283 |
24/12/2010 |
460,000,000.00 |
DBS BANK LIMITED |
UPPER GROUND FLOOR, BIRLA TOWER, 25, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B04556460 |
|
10 |
10266869 |
29/11/2013 * |
460,000,000.00 |
DBS BANK LIMITED(ACTING AS AN SECURITY AGENT) |
CAPITOL POINT, BABA KHARAK SINGH MARG, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B92498096 |
|
11 |
10215395 |
17/06/2011 * |
450,000,000.00 |
AXIS BANK LIMITED |
4/10, OPG HOUSE, ASAF ALI ROAD, NEW DELHI, DELHI - 110002, INDIA |
B15693237 |
|
12 |
10194306 |
29/11/2013 * |
750,000,000.00 |
DBS BANK LIMITED |
CAPITOL POINT, BABA KHARAK SINGH MARG,, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B92500917 |
|
13 |
10175326 |
29/11/2013 * |
250,000,000.00 |
STANDARD CHARTERED BANK |
(ACTING AS AN SECURITY AGENT) C D U, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B94509551 |
|
14 |
10154937 |
29/11/2013 * |
500,000,000.00 |
INDUSIND BANK LIMITED |
DR. GOPAL DAS BUILDING, 28, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B92563949 |
|
15 |
10129565 |
23/09/2008 |
40,000,000.00 |
CANARA BANK |
PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
A50646157 |
|
16 |
10122933 |
19/06/2013 * |
600,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OFINDIA,, DR. |
B79135265 |
|
17 |
90063329 |
29/11/2013 * |
700,000,000.00 |
STANDARD CHARTERED BANK |
CREDIT DOCUMENTATION UNIT, NARAIN MANZIL, 23 BARA |
B94561826 |
|
18 |
90062624 |
29/11/2013 * |
180,000,000.00 |
CANARA BANK |
PRIME CORPORATE BRANCH, WORLD TRADE TOWER II, NEW |
B94497807 |
|
19 |
80043168 |
29/11/2013 * |
250,000,000.00 |
CANARA BANK |
PRIME CORPORATE BRANCH, WORLD TRADE TOWER II, NEW |
B94498474 |
|
20 |
90062402 |
14/07/2009 * |
180,000,000.00 |
CANARA BANK |
PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
A67184366 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
127.362 |
0.000 |
|
Total |
127.362 |
0.000 |
|
NOTE SHORT TERM
BORROWINGS Secured by first pari passu charge over current assets of the
Company and also secured by second pari passu charge on the movable and
immovable fixed assets of the Company except Yes Bank for Rs 19.494 Millions
secured only by second pari passu charge on the movable fixed assests of the
Gurgaon Plant, DBS Bank for Rs 250.000 Millions and ING Vysya for Rs 50.000
Millions secured only by second pari passu charge on moveable Fixed Assets
and Mortgage Charge on Gurgaon and Pantnagar Property, and No second pari
pasu for ICICI Bank for Rs 303.110 Millions and City Bank for Rs 14.424
Millions. |
||
EXPANSION ACTIVITIES
IN 2012-13
During the year, company has taken various strategic initiatives as follows:
1) New Tube Mill Ordered in Pant Nagar (N-9) of size 28.58 MM to 127 MM OD for manufacturing of Precision Tube for Auto Sector. The mill is under installation and is expected to be operational by August 2013.
2) New line setup for manufacturing of Frames for Splender Pro for Hero Moto Corp (HMCL) Haridwar completed and supply started w.e.f. April'12.
3) M2W Muffler manufacturing line set up at NMPL Gurgaon and supply started w.e.f. July 2012.
4) New welding line installed for manufacturing of MandM Bolero Body for a capacity of 50/Shift vehicles per day. The line commissioned on dated Sep'12
5) A Joint Venture with Kanemitsu Corporation Japan, Kanemitsu Pulleys Corporation Thailand, JFE Shoji Japan (51% NMPL and 49% others) signed and a new JV Company by name of JBM Kanemitsu Limited formed. The company will start manufacturing by June 2013.
6) A new plant construction started at Narsapura Distt Kolar in Karnataka for manufacturing of Sheet Metal Components for HMSI 3F Plant at Narsapura. The plant is expected to start production by March 2013.
7) They have installed CCTV cameras in NMPL Gurgaon Campus.
8) They have installed a water recycling plant of processing capacity of 250 KL/day for recycling the water from plating plant. The plant is commissioned in the month of February 2013.
BUSINESS OUTLOOK IN
2013-14
1) They are in discussion with HMSI for setting up of New line for manufacturing of frame assemblies and other parts for their 3F Plant at Narsapur.
2) They have applied for allotment of Industrial Land at GIDC Sanand for setting up a Steel Service Center for FORD Sanand facility.
FIXED ASSETS
v
Tangible
Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
v
Intangible
Assets
· 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.60.07 |
|
|
1 |
Rs.100.56 |
|
Euro |
1 |
Rs.82.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.