MIRA
INFORM REPORT
|
Report Date : |
16.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
INVOLUTE TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Flat No.28, Wing A-1, Building No.3/B, New Ajanta Avenue, Paud Road,
Kothrud, Pune – 411 029, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.06.1999 |
|
|
|
|
Com. Reg. No.: |
25-013717 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.74.042
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200PN1999PTC013717 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEI00737C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI6998Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is primarily engaged in the business of manufacturing gears of various
vehicles and processing of components. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1559000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects healthy financial risk profile marked by fair
profitability levels and sound liquidity position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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. Suhas Ukre |
|
Designation : |
Senior Manager |
|
Contact No.: |
91-9822322913 |
|
Date : |
14.04.2014 |
LOCATIONS
|
Registered / Branch Office / Factory 1 : |
Flat No.28, Wing A-1, Building No.3/B, New Ajanta Avenue, Paud Road, Kothrud,
Pune – 411 029, Maharashtra, India |
|
Tel. No.: |
91-20-25381443 |
|
Mobile No.: |
91-9822322913 (Mr. Suhas Ukre) |
|
Fax No.: |
91-20-25380973 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
Gat # 20, 21, 21-A, 232, Plot # 170, Dhanore, Alandi-Markal Road, Pune
– 412 105, Maharashtra, India |
|
Tel. No.: |
91-2135-232422 / 233175 / 232054 |
|
|
|
|
Branch Office 2 : |
Akhil Co-Operative, Housing Society, Building No.4, Flat No.17,
Erandwane, Karve Road, Pune – 411 038, Maharashtra, India |
|
Tel. No.: |
91-20-25410142 |
|
Fax No.: |
91-20-25410125 |
DIRECTORS
AS ON 10.09.2013
|
Name : |
Mr. Anil Vinayak Somalwar |
|
Designation : |
Managing Director |
|
Address : |
Flat No.28, Building No.3/B, New Ajanta Avenue, Paud Road, Kothrud,
Pune – 411 029, Maharashtra, India |
|
Date of Birth/Age : |
22.01.1958 |
|
Qualification : |
DME |
|
Experience : |
38 Years |
|
Date of Appointment : |
09.06.1999 |
|
DIN No.: |
00272485 |
|
PAN No.: |
ACEPS8680E |
|
|
|
|
Name : |
Mr. Anil Ganpatrao Kharwadkar |
|
Designation : |
Director |
|
Address : |
706, Pancharatna Towers, Mantri Park, Kothrud, Pune – 411 029,
Maharashtra, India |
|
Date of Birth/Age : |
04.07.1952 |
|
Date of Appointment : |
10.06.1999 |
|
DIN No.: |
00272586 |
|
PAN No.: |
ACOPK8751C |
KEY EXECUTIVES
|
Name : |
Soumitra Ashutosh Chawathe |
|
Designation : |
Secretary |
|
Address : |
B-10, Rahul Nagar, Near Karve Statue, Off Karve Road, Kothrud, Pune –
411 038, Maharashtra, India |
|
Date of Birth/Age : |
01.03.1988 |
|
Date of Appointment : |
24.08.2010 |
|
PAN No.: |
AIWPC4547J |
|
|
|
|
Name : |
Mr. Suhas Ukre |
|
Designation : |
Senior Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Anil Vinayak Somalwar |
|
2100 |
|
Shreekant Dattatraya Joshi |
|
2100 |
|
Manasi Auto Parts Private Limited, India |
|
6000000 |
|
Auto Components Manufacturing Company Private Limited, India |
|
1400000 |
|
Total
|
|
7404200 |
AS ON 10.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.94 |
|
Directors
or relatives of directors |
|
0.03 |
|
Other
top fifty shareholders |
|
0.03 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is primarily engaged in the business of manufacturing gears of various
vehicles and processing of components. |
|
|
|
|
Exports : |
|
|
Products : |
·
Auto Components |
|
Countries : |
·
USA ·
Switzerland ·
Europe ·
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Advance |
|
|
|
|
Purchasing : |
Cash and Advance |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
800 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
The Saraswat Co-Operative Bank Limited, C-2, Kohinoor Estate
Co-Operative Housing Society, Plot No.12, Mula Road Sangamwadi, Pune – 411
003, Maharashtra, India ·
The Saraswat Co-Operative Bank Limited, 2nd
Floor, F.C. Road Branch, RASEC, Ganeshwadi, Opposite Vaishali Hotel, Shivaji
Nagar, Pune – 411 004, Maharashtra, India ·
The Cosmos Co-Operative Bank Limited, 269/270,
Shaniwar Peth, Pune – 411 030, Maharashtra, India (at its Kothrud Branch) ·
Citibank N.A., 2413, Kumar Capital, East Street,
Pune – 411 001, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Notes: LONG-TERM
BORROWINGS (A) 1: Rupee Term Loan
from Bank for acquiring Machinery are secured by hypothecation of Plant and
Machineries to be purchased 2: Rupee Term Loan from Bank for Building is
secured by way of equitable mortgage of Land and Buildings at Gat. No.170 and
Gat No.156-159 3: Rupee Term Loans from Bank for purchase of vehicles is
secured by way of hypothecation of respective vehicles Common Security: a.
Equitable Mortgage of factory Land and Buildings situated at Gat No. 20, 21,
21-A, Dhanore, Pune b. Equitable Mortgage of Land and Buildings situated at
Gat No.232, Dhanore, Pune c. Further charge on plot at Gat No.156-159,
Dhanore, Pune d. Equitable Mortgage of Land situated at Gat No.232, 233,
Dhanore, Pune e. Equitable Mortgage of Land at Gat No.227, Dhanore, Pune f.
Hypothecation of Plant and Machinery and other fixed assets g. Personal
Guarantee of: Mr. A.V. Somalwar and Mr. A.G. Kharwadkar, Directors h.
Corporate Guarantee of: Manasi Auto Parts Private Limited and Auto Component
Manufacturing Co. Private Limited. (B) 1. Foreign Currency
loan from Bank i.e. Buyers’ Credit is backed by Term Loan, secured against
Plant and Machinery to be purchased. Fixed Deposit to the extent of 25% is
earmarked towards margin money. 2. Buyers Credit is for 180 days from
drawdown date. Buyers Credit can be rolled over for another term upto 360
days. Maximum period for rollover of buyers’ credit is 3 years from drawdown
date. Buyers’ Credit is drawn at various times. Buyers’ Credit is backed by
Rupee Term Loan from Bank. It will be availed when rollover of Buyers’ Credit
is not available. As a security for Company’s margin money towards buyers
credit 25% of the amount is kept as fixed deposit with bank and the same is
earmarked. Monthly recurring deposit of the amount of Rs.0.670 million is
kept with Bank. The
same is to be utilized for repayment of buyers’ credit. Rate of Interest
charged is LIBOR + 150 bps to LIBOR + 300 bps SHORT-TERM
BORROWINGS (A) Cash Credit -
sanctioned Limits: 205.000 millions: Rate of Interest: 13.75% Bill discounting
- Sanctioned Limits: 5 crores Rate of Interest: 12.75% Packing Credit -
sanctioned limits: 95.000 millions Rate of Interest: 10.75% |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R.R. Deval and Company Chartered Accountants |
|
Address : |
11, Atul Vihar, Lane No.9, Dahanukar Colony, Kothrud, Pune – 411 029,
Maharashtra, India |
|
PAN No: |
ABAPD7562R |
|
|
|
|
Holding Company : |
Manasi Auto Parts Private Limited, India (CIN No.:
U34300PN1990PTC057167) |
|
|
|
|
Group Companies : |
Manasi Pressings Private Limited, India (CIN No.:
U22210MH1995PTC091514) |
|
|
|
|
Enterprises over which Key Management Personnel
and their relatives have significant influence : |
·
Manasi Technoforge Private Limited, India (CIN
No.: U29213MH1995PTC091504) ·
Vesan Engineering Private Limited, India (CIN
No.: U28910MH1995PTC089044) ·
Auto Component Manufacturing Company Private Limited,
India (CIN No.: U34300PN2000PTC014775) ·
Pune Machining Centre Private Limited, India (CIN
No.: U29299PN2002PTC017405) ·
Shrohit Engineering Private Limited, India (CIN
No.: U29299PN2002PTC017216) |
CAPITAL STRUCTURE
AS ON 10.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7404200 |
Equity Shares |
Rs.10/- each |
Rs.74.042
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 |
74.042 |
74.042 |
74.042 |
|
(b) Reserves & Surplus |
315.743 |
226.219 |
169.219 |
|
(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) |
389.785 |
300.261 |
243.261 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
204.361 |
206.087 |
185.773 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.199 |
3.777 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
204.361 |
206.286 |
189.550 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
205.845 |
240.173 |
199.594 |
|
(b)
Trade payables |
225.090 |
230.944 |
177.777
|
|
(c)
Other current liabilities |
77.804 |
68.227 |
55.811
|
|
(d) Short-term
provisions |
25.362 |
30.665 |
28.547
|
|
Total Current
Liabilities (4) |
534.101 |
570.009 |
461.729 |
|
|
|
|
|
|
TOTAL |
1128.247 |
1076.556 |
894.540 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
507.103 |
430.536 |
359.700 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
8.306 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.229 |
0.229 |
0.229 |
|
(c) Deferred tax assets (net) |
3.552 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
71.825 |
43.654 |
29.633 |
|
Total Non-Current
Assets |
591.015 |
474.419 |
389.562 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
201.148 |
239.535 |
222.043
|
|
(c)
Trade receivables |
287.690 |
331.921 |
234.373
|
|
(d) Cash
and cash equivalents |
18.424 |
2.620 |
2.376
|
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
29.970 |
28.061 |
46.186 |
|
Total
Current Assets |
537.232 |
602.137 |
504.978 |
|
|
|
|
|
|
TOTAL |
1128.247 |
1076.556 |
894.540 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales
(Net of Excise duty & VAT) |
1469.400 |
1592.400 |
1053.400 |
|
|
|
Operating
& Other Income |
16.300 |
11.800 |
5.600 |
|
|
|
TOTAL |
1485.700 |
1604.200 |
1059.000 |
|
|
|
|
(Due to market fluctuation) |
|
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
1347.700 |
1514.700 |
951.600 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1347.700 |
1514.700 |
951.600 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
138.000 |
89.500 |
107.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
48.500 |
32.500 |
39.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
89.500 |
57.000 |
67.700 |
|
|
|
|
|
|
|
|
|
|
PRIOR YEAR ITEMS
|
0.000 |
0.000 |
0.200 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
216.200 |
161.700 |
96.300 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.500 |
2.500 |
2.500 |
|
|
BALANCE CARRIED
TO THE B/S |
303.200 |
216.200 |
161.700 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on FOB Basis |
529.016 |
485.635 |
259.817 |
|
|
TOTAL EARNINGS |
529.016 |
485.635 |
259.817 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3.277 |
6.312 |
4.769 |
|
|
|
Components & Spare Parts |
0.952 |
1.025 |
0.188 |
|
|
|
Capital Goods |
37.056 |
36.612 |
33.809 |
|
|
TOTAL IMPORTS |
41.285 |
43.949 |
38.766 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
12.09 |
7.70 |
NA |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1450.000 |
|
|
|
|
|
The above information has been parted by Mr. Suhas Ukre (Senior Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.02
|
3.55 |
6.39
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.39
|
5.62 |
10.20
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.36
|
8.32 |
12.01
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.30 |
0.44
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.05
|
1.49 |
1.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01
|
1.06 |
1.09
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
74.042 |
74.042 |
74.042 |
|
Reserves & Surplus |
169.219 |
226.219 |
315.743 |
|
Net worth |
243.261 |
300.261 |
389.785 |
|
|
|
|
|
|
Long-term borrowings |
185.773 |
206.087 |
204.361 |
|
Short term borrowings |
199.594 |
240.173 |
205.845 |
|
Total borrowings |
385.367 |
446.260 |
410.206 |
|
Debt/Equity ratio |
1.584 |
1.486 |
1.052 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
1053.400 |
1592.400 |
1469.400 |
|
|
|
51.168 |
-7.724 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
1053.400 |
1592.400 |
1469.400 |
|
Profit |
67.700 |
57.000 |
89.500 |
|
|
6.43% |
3.58% |
6.09% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long term debt:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Current maturities of
long term debt |
60.090 |
49.387 |
41.381 |
|
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% |
Yes |
|
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 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10466715 |
27/11/2013 |
30,000,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
C-2, KOHINOOR ESTATE
CO-OPERATIVE HOUSING SOCIETY, PLOT NO.12, MULA ROAD SANGAMWADI, PUNE,
MAHARASHTRA - 411003, INDIA |
B92177609 |
|
2 |
10466714 |
27/11/2013 |
49,000,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
C-2, KOHINOOR ESTATE
CO-OPERATIVE HOUSING SOCIETY, PLOT NO.12, MULA ROAD SANGAMWADI, PUNE,
MAHARASHTRA - 411003, INDIA |
B92177427 |
|
3 |
10466716 |
27/11/2013 |
66,300,000.00 |
THE SARASWAT CO - OPERATIVE
BANK LIMITED |
C-2, KOHINOOR ESTATE
CO-OPERATIVE HOUSING SOCIETY, PLOT NO.12, MULA ROAD SANGAMWADI, PUNE,
MAHARASHTRA - 411003, INDIA |
B92177682 |
|
4 |
10459970 |
09/11/2013 |
990,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
GANESH WADI F.C. ROAD,
PUNE, MAHARASHTRA - 411004, INDIA |
B89446397 |
|
5 |
10446056 |
29/08/2013 |
490,169.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
2ND FLOOR, ABOVE F C
ROAD, BRANCH GANESHWADI, OPPOSITE HOTEL VAISHALI SHIVAJI NAGAR, PUNE, MAHARASHTRA
- 411004, INDIA |
B83571919 |
|
6 |
10418278 |
11/03/2013 |
697,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
2ND FLOOR, ABOVE F C
ROAD, BRANCH GANESHWADI, OPPOSITE HOTEL VAISHALI SHIVAJI NAGAR, PUNE,
MAHARASHTRA - 411004, INDIA |
B72754831 |
|
7 |
10418488 |
11/03/2013 |
1,425,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
2ND FLOOR, ABOVE F C
ROAD, BRANCH GANESHWADI, OPPOSITE HOTEL VAISHALI SHIVAJI NAGAR, PUNE,
MAHARASHTRA - 411004, INDIA |
B72808793 |
|
8 |
10365734 |
04/07/2012 |
678,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
2ND FLOOR, F.C.ROAD
BRANCH, RASEC, GANESHWADI, OPPOSITE VAISHALI HOTEL SHIVAJI NAGAR, PUNE,
MAHARASHTRA - 411004, INDIA |
B43720564 |
|
9 |
10347827 |
30/03/2012 |
700,000.00 |
THE SARASWAT CO - OPERATIVE
BANK LIMITED |
2ND FLOOR, F.C.ROAD
BRANCH, RASEC, GANESHWADI, OPPOSITE VAISHALI HOTEL SHIVAJI NAGAR, PUNE,
MAHARASHTRA - 411004, INDIA |
B37040938 |
|
10 |
10318997 |
18/10/2011 * |
120,000,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
C-2, KOHINOOR ESTATE
CO-OPERATIVE HOUSING SOCIETY, PLOT NO.12, MULA ROAD SANGAMWADI, PUNE,
MAHARASHTRA - 411003, INDIA |
B26239376 |
|
11 |
10318996 |
12/10/2011 |
10,000,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
C-2, KOHINOOR ESTATE CO-OPERATIVE
HOUSING SOCIETY, PLOT NO.12, MULA ROAD SANGAMWADI, PUNE, MAHARASHTRA -
411003, INDIA |
B25797747 |
|
12 |
10319078 |
12/10/2011 |
36,900,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
C-2, KOHINOOR ESTATE CO-OPERATIVE
HOUSING SOCIETY, PLOT NO.12, MULA ROAD SANGAMWADI, PUNE, MAHARASHTRA -
411003, INDIA |
B25828757 |
|
13 |
10279342 |
25/03/2011 |
39,000,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
C-2, KOHINOOR ESTATE
CO-OPERATIVE HOUSING SOCIETY, PLOT
NO.12, MULA ROAD, SANGAMWADI, PUNE, MAHARASHTRA - 411003, INDIA |
B09948209 |
|
14 |
10254566 |
16/12/2010 |
50,000,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
C-2, KOHINOOR ESTATE CO-OPERATIVE
HOUSING SOCIETY, PLOT NO.12, MULA ROAD SANGAMWADI, PUNE, MAHARASHTRA -
411003, INDIA |
B01298272 |
|
15 |
10243295 |
28/09/2010 |
20,000,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
C-2, KOHINOOR ESTATE CO-OPERATIVE
HOUSING SOCIETY, PLOT NO.12, MULA ROAD SANGAMWADI, PUNE, MAHARASHTRA -
411003, INDIA |
A96120704 |
|
16 |
10243258 |
28/09/2010 |
100,000,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
C-2, KOHINOOR ESTATE CO-OPERATIVE
HOUSING SOCIETY, PLOT NO.12, MULA ROAD SANGAMWADI, PUNE, MAHARASHTRA -
411003, INDIA |
A96120316 |
|
17 |
10230172 |
13/07/2010 |
32,500,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
C-2, KOHINOOR ESTATE CO-OPERATIVE
HOUSING SOCIETY, PLOT NO.12, MULA ROAD SANGAMWADI, PUNE, MAHARASHTRA -
411003, INDIA |
A90055732 |
|
18 |
10228966 |
25/06/2010 |
1,800,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
RASEC BRANCH, F C ROAD, PUNE,
MAHARASHTRA - 411004, INDIA |
A89567804 |
|
19 |
10220121 |
11/05/2010 |
981,342.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
RASEC,FERGUSSION COLLEGE
ROAD, PUNE, MAHARASHTRA - 411004, INDIA |
A86344587 |
|
20 |
10202310 |
03/02/2010 |
998,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
RASEC BRANCH F C ROAD,
PUNE, MAHARASHTRA - 411004, INDIA |
A78943941 |
|
21 |
10105727 |
20/02/2008 |
458,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
KARVE ROAD, PUNE, PUNE,
MAHARASHTRA - 411004, INDIA |
A39451596 |
|
22 |
10076061 |
07/11/2007 |
1,087,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
KARVE ROAD BRANCH, PUNE,
MAHARASHTRA - 411004, INDIA |
A27080639 |
|
23 |
10073542 |
25/10/2007 |
336,354.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
KARVE ROAD BRANCH, PUNE,
MAHARASHTRA - 411001, INDIA |
A25679788 |
|
24 |
10073543 |
25/10/2007 |
336,354.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
KARVE ROAD BRANCH, PUNE,
MAHARASHTRA - 411001, INDIA |
A25680331 |
|
25 |
10064313 |
03/08/2007 |
332,499.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
KARVE ROAD BRANCH, PUNE,
MAHARASHTRA - 411004, INDIA |
A21181946 |
|
26 |
10064314 |
03/08/2007 |
332,499.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
KARVE ROAD BRANCH, PUNE, MAHARASHTRA
- 411004, INDIA |
A21181409 |
|
27 |
10050241 |
03/05/2007 |
578,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
KARVE ROAD BRANCH, PUNE,
MAHARASHTRA - 411004, INDIA |
A14892616 |
|
28 |
10047570 |
09/03/2007 |
87,500,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
KARVE ROAD BRANCH, PUNE,
MAHARASHTRA - 411004, INDIA |
A14015622 |
|
29 |
10027737 |
12/10/2006 |
20,400,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
KARVE ROAD BRANCH, PUNE,
MAHARASHTRA - 411004, INDIA |
A07055270 |
|
30 |
10026645 |
12/10/2006 |
60,000,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
KARVE ROAD BRANCH, PUNE,
MAHARASHTRA - 411004, INDIA |
A07054836 |
|
31 |
10001373 |
24/03/2006 |
538,600.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
KARVE ROAD BRANCH, PUNE,
MAHARASHTRA - 411004, INDIA |
A00450429 |
|
32 |
10001635 |
23/03/2006 |
43,500,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
KARVE ROAD BRANCH, PUNE,
MAHARASHTRA - 411004, INDIA |
A00472142 |
|
33 |
80016765 |
21/11/2005 |
600,000.00 |
THE SARSWAT CO-OPERATIVE
BANK LIMITED |
KARVE ROAD BRANCH, PUNE,
MAHARASHTRA - 411019, INDIA |
- |
|
34 |
90087191 |
12/03/2005 |
5,000,000.00 |
THE COSMOS CO-OPERATIVE
BANK LIMITED |
269/270 ; SHANIWAR PETH,
PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
35 |
90093078 |
12/03/2005 |
5,000,000.00 |
THE COSMOS CO-OPERATIVE
BANK LIMITED |
269/270 ; SHANIWAR PETH,
PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
36 |
80016766 |
12/10/2006 * |
20,000,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
KARVE ROAD BRANCH, PUNE,
MAHARASHTRA - 411004, INDIA |
- |
|
37 |
90094141 |
17/10/2005 * |
25,000,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
KARVE ROAD BRANCH, PUNE,
MAHARASHTRA, INDIA |
- |
|
38 |
90092556 |
27/11/2013 * |
350,000,000.00 |
THE SARASWAT CO -
OPERATIVE BANK LIMITED |
C-2, KOHINOOR ESTATE
CO-OPERATIVE HOUSING SOCIETY, PLOT NO.12, MULA ROAD SANGAMWADI, PUNE,
MAHARASHTRA - 411003, INDIA |
B92177773 |
|
39 |
90091662 |
26/09/2001 |
5,634,000.00 |
THE COSMOS CO- OPERATIVE BANK
LIMITED |
KOTHRUD BRANCH, PUNE,
MAHARASHTRA - 411029, INDIA |
- |
|
40 |
90091415 |
10/09/2001 * |
6,000,000.00 |
THE COSMOS CO- OPERATIVE
BANK LIMITED |
KOTHRUD BRANCH, PUNE,
MAHARASHTRA - 411029, INDIA |
- |
|
41 |
90091287 |
27/06/2005 * |
3,450,000.00 |
THE COSMOS CO- OPERATIVE
BANK LIMITED |
269/270; SHANIWAR PETH,
PUNE, MAHARASHTRA - 411030, INDIA |
- |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Deferred sales tax loan |
25.009 |
25.009 |
|
Deposits from shareholders |
10.940 |
11.250 |
|
Total
|
35.949 |
36.259 |
Notes:
LONG-TERM
BORROWINGS
A)
Sales Tax deferral liability/loan, an incentive under Packaged Scheme of
Incentives 1998 of Govt. of Maharashtra. Sales Tax deferral liability/loan is
repayable free of interest over predefined annual instalments after the expiry
of a specified period from the deferment of liability as per scheme of
incentives Repayment Schedule (Repayable to Sales Tax Department).
OPERATIONAL PERFORMANCE - THE YEAR IN RETROSPECT
SALES:
During the year, the
Company was in receipt of total income amounting to Rs.1485.700 millions
consisting of Sales of Rs.1469.400 millions, other income of Rs.16.300 millions
as against total income of Rs.1604.300 millions for the previous year which
consisted of Sales of Rs.1592.400 millions and other income of Rs.11.900
millions.
The total expenditures of
the Company amounted to Rs.1347.700 millions as against Rs.1514.800 millions
for the previous year excluding provisions and taxation.
After charging all the
expenses, the Company earned a profit after tax of Rs.89.500 millions as against
Rs.57.000 millions for the previous year.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipments
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
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.60.26 |
|
UK Pound |
1 |
Rs.100.70 |
|
Euro |
1 |
Rs.83.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
|
47 |
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.