MIRA
INFORM REPORT
|
Report Date : |
21.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
PENTAIR VALVES
AND CONTROLS INDIA PRIVATE LIMITED (w.e.f. 23.05.2013) |
|
|
|
|
Formerly Known
As : |
TYCO VALVES AND
CONTROLS INDIA PRIVATE LIMITED MULTI SARASIN
VALVES LIMITED |
|
|
|
|
Registered
Office : |
302/A, Ivory
Terrace, R.C. Dutt Road, Alkapuri, Vadodara – 390005, Gujarat |
|
|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.06.1981 |
|
|
|
|
Com. Reg. No.: |
04-004441 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.189.986
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28999GJ1981PTC004441 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDT00697E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK8809L |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and
Exporter of Industrial Valves. |
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|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Safety Systems UK Pte Limited”. It is an established
company having satisfactory track. Management has filed the latest financials of 2013, but the same could
not be made available from the government department. Mr. Sandeep Kashekar, the commercial manager provided general details
and denied to disclose any financial information to us. As per available of 2012, the company possesses a decent financial
profile marked by sound networth base along with favourable gap between trade
receivables and payables with sufficient cash inflows. Moreover, the management has reported a significant improvement in its
sales volume during 2012. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. The ratings also take into consideration the lack of latest requisive
information. However, in view of support from its holding company, the subject can
be considered for business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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 (GENERAL DETAILS)
|
Name : |
Mr. Sandeep Kashekar |
|
Designation : |
Commercial Manager |
|
Contact No.: |
91-2676-300200 |
|
Date : |
18.04.2014 |
LOCATIONS
|
Registered Office : |
302/A, Ivory
Terrace, R.C. Dutt Road, Alkapuri, Vadodara – 390005, Gujarat, India |
|
Tel. No.: |
91-2676-300200 91-265-2359503 /
2331944 |
|
Fax No.: |
91-2676-220162 91-265-2336926 |
|
E-Mail : |
|
|
Website : |
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|
Location: |
Owned |
|
|
|
|
Corporate Office : |
804, Windser
House, Kalina, Santacruz (East), Mumbai, Maharashtra, India |
|
|
|
|
Branch Office : |
No.23, C Mandira
Apartments, No.3A, 3rd Floor, T Nagar, Chennai – 600017,
Tamilnadu, India |
|
|
|
|
Factory : |
Survey No. 150,
Maghasar Halol – |
|
Tel. No.: |
91-2676-220461 /
220056 / 300200 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Iqbal Singh
Malhotra |
|
Designation : |
Managing Director |
|
Address : |
4th
Floor, Plot No. 31, Vithal Nagar, JVPD Scheme of 10th Road, Vile
Parle (West), Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1949 |
|
Qualification : |
B. E. Mechanical |
|
Date of Appointment : |
10.04.2006 |
|
Pan No. : |
AGJPM8987F |
|
Din No.: |
02132718 |
|
|
|
|
Name : |
Pak Leung Steven Leung |
|
Designation : |
Director |
|
Address : |
Unit 801, No. 7, Lane 168, |
|
Date of Birth/Age : |
16.09.1956 |
|
Date of Appointment : |
18.12.2008 |
|
DIN No.: |
02510944 |
|
|
|
|
Name : |
Mr. Dilip Ranjan Sahoo |
|
Designation : |
Director |
|
Address : |
16th Floor, Flat No. 1603, Villa Royale, Hiranandani
Estate, Patalipada, Thane (West) Zone 4, Thane-400607, |
|
Date of Birth/Age : |
21.11.1968 |
|
Date of Appointment : |
21.07.2010 |
|
Din No.: |
03150361 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Kashekar |
|
Designation : |
Commercial Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Iqbal Singh
Malhotra |
1 |
|
Safety Systems UK Pte Limited, Singapore |
18998638 |
|
Total |
18998639 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Industrial Valves. |
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Products : |
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Exports : |
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Products : |
Finish Goods |
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Countries : |
·
Sri Lanka ·
Oman ·
Bangladesh |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
China ·
Taiwan ·
Korea ·
USA ·
UK |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS (AS ON 31.03.2011]
|
Particulars |
Unit |
Actual Production |
|
Machined Casting |
Nos. |
7672 |
|
Butterfly Valves |
Nos. |
28987 |
|
Lunkenheimer/
Angel Valves |
Nos. |
21040 |
GENERAL INFORMATION
|
Customers : |
Retailers, End Users |
|
|
|
|
No. of Employees : |
200 (Approximately) |
|
|
|
|
Bankers : |
· HDFC Bank, Baroda Branch, Gujarat, India · State Bank of India, G and I Division, Baroda Branch, Gujarat, India ·
Citi Bank, Alkapuri, Baroda, Gujarat, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
31, Nutan Bharat Society, Alkapuri, Vadodara - 390007, Gujarat, India |
|
Tel. No.: |
91-265-2333776 |
|
Fax No.: |
91-265-2339729 |
|
Pan No.: |
AADFD2337G |
|
|
|
|
Holding Company: |
Safety Systems UK Pte Limited [Formerly Tyco India (Singapore) Private Limited |
|
|
|
|
Associates : |
· Anderson greenwood · Anderson Greenwood Company - U K · Anderson Greenwood Company - Houstonusa · Anderson greenwood Instrumentation Product · Anderson Greenwood-Harlingen · Anderson Greenwood-Kunkle · Beijing Keystone Valve Company Limited · Biffi Italy S.R.L. · Dewrance · Erhard Gmbh and Company - Germany · Emirates Techno Casting - Fze Middle East · Fasani · Flow Control Technologies · Hindle Cock burns Limited · Industra-Comeriode Equip. Industrial S.A · Kd Valves S.A.S. · Keystone Valve (China),Shenzhen Plant · Keystone Valve (Uk) Limited · Keystone Pacific (Export) · Keystone Valves (Korea) Limited · Keystone Valves Inc. Usa · Kitamura Valve Mfg. Company Limited · Ktm Ball Valve Mfg. Company Limited -China · Ktm Ball Valve - Japan · Kunkle Usa · Key Stone Valves - UK · Key Stone Valves - Breda · Key Stone Valves - Taiwan · Key Stone Valves - Ukglasgow · Narvikyarway B.V · Neotecha - Switzerland · Neotecha - Ag · Penberthy · Raimondi · Raphael Valves Industries (1975) Limited · Safety Systems UK Limited (Whessoe) · Sakhi Raimondi Valves (India) Limited · Sapag · Sempell Aktiengesellschaft · Taiwan Valve Company Limited · Tvcwest - Denver · Tyco - Belgium A/C · Tyco Electronics Systems India Private Limited · Tyco Fire and Building Products - Ansul US · Tyco Fire and Building Products Asia Pte Limited · Tyco Fire and Security India Private Limited · Tyco Fire and Building Products asiapte. Limited, Singapore · Tyco fire products customer service center, Marinette, Wi, USA · Tyco Fire Products Uk manufacturing Ltd yew St. Stockport, UK · Tyco Fire Suppression And Building Products, Great Yarmouth, Norfolk · Tyco Fire Products Lp, Lansdale · Tycoflexonic, Auckland · Tyco Flow Control, Nj · Tyco Flow Control Argentina HQ · Tyco Flow Control Argentina SA · Tyco Flow Control Beijing Company Limited · Tyco Flow Control Chile S.A · Tyco Flow Control Hong Kong Limited · Tyco Flow Control -Houston · Tyco Flow Control K.K - Japan · Tyco Flow Control Nfg - Nowra · Tyco Flow Control Pacific Pte. Limited Brisbane, Australia · Tyco Flow Control Pacific Pty Limited Australia · Tyco Flow Control Pacific Pty Limited · Tyco Flow Control Pte Limited - Singapore · Tyco Flow Control Pte Limited · Tyco Flow Control Pte Limited (Distribution Division) · Tyco Flow Control Pte Limited (Export A/C) · Tyco Flow Control, Auckland · Tyco International Inc · Tyco International Management Company · Tyco International Services Holding Gmbh · Tyco Shares Ltd · Tyco Thermal Controls Nv · Tyco Thermal Controls India Private Limited · Tyco Valves and Controls Griss · Tyco Valves and Controls B.V. · Tyco Valves and Controls Lp - Reno · Tyco Valves and Controls Brazil Limited · Tyco Valves and Controls Canada Inc · Tyco Valves and Controls Demexico, S.A De C.V · Tyco Valves and Controls Denmark A/S · Tyco Valves and Controls Distribution Gmbh · Tyco Valves and Controls Distribution Uk Limited · Tyco Valves and Controls -(France) S.C.A · Tyco Valves and Controls Inc. · Tyco Valves and Controls Italia S.R.I V · Tyco Valves and Controls Italia S.R.L. (Vanessa) · Tyco Valves and Controls Italia S.R.L. (Raimondi) · Tyco Valves and Controls L.P (Morin) · Tyco Valves and Controls Lp · Tyco Valves and Controls Lp (Kunkle Valve) · Tyco Valves and Controls Lp Harlingen · Tyco Valves and Controls Lp, Denvar · Tyco Valves and Controls Lp-Agco · Tyco Valves and Controls Middle East · Tyco Valves and Controls Taiwan Limited · Tyco Valves and Controls(Thailand) Limited · Tyco Valves and Controls, Gulfcoast - Grinnell, USA · Tyco Valves and Controls, Penberthy, USA · Tyco Valves and controls Morin Inc. · Tyco Valves and Controls (Sichuan) Company Limited · Tyco Valves and Controls (M) Sdn, Bhd-Malaysia · Tyco Valves and Controls Lp - Stafford · Tyco Valves and Controls Lp - Pasadena · Tyco Valves and Controls USA Limited · Tyco Water Valve ( Shanghai ) Company Limited · Tyco Water Valves Company Limited · Westlock Controls Limited U.S.A · Westlock Controls Limited U.K. |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18998639 |
Equity Shares |
Rs.10/- each |
Rs.189.986 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
189.986 |
189.986 |
|
(b) Reserves & Surplus |
|
1831.038 |
1700.195 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
3.441 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2021.024 |
1893.622 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
8.945 |
9.602 |
|
Total Non-current Liabilities (3) |
|
8.945 |
9.602 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
513.236 |
80.280 |
|
(b) Trade payables |
|
1394.004 |
1058.566 |
|
(c) Other current
liabilities |
|
136.892 |
176.407 |
|
(d) Short-term provisions |
|
0.714 |
0.823 |
|
Total Current Liabilities (4) |
|
2044.846 |
1316.076 |
|
|
|
|
|
|
TOTAL |
|
4074.815 |
3219.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
147.296 |
138.772 |
|
(ii) Intangible Assets |
|
2.359 |
10.078 |
|
(iii) Capital
work-in-progress |
|
0.000 |
4.944 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
78.217 |
57.080 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
227.872 |
210.874 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
799.410 |
714.213 |
|
(c) Trade receivables |
|
1479.942 |
718.008 |
|
(d) Cash and cash
equivalents |
|
1170.590 |
166.314 |
|
(e) Short-term loans and
advances |
|
391.815 |
1409.209 |
|
(f) Other current assets |
|
5.186 |
0.682 |
|
Total Current Assets |
|
3846.943 |
3008.426 |
|
|
|
|
|
|
TOTAL |
|
4074.815 |
3219.300 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
189.986 |
|
|
2] Share Application Money |
|
|
3.441 |
|
|
3] Reserves & Surplus |
|
|
1599.507 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1792.934 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
98.098 |
|
|
TOTAL BORROWING |
|
|
98.098 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1891.032 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
104.714 |
|
|
Capital work-in-progress |
|
|
15.564 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
54.565 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
425.781 |
|
|
Sundry Debtors |
|
|
624.493 |
|
|
Cash & Bank Balances |
|
|
554.141 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
972.478 |
|
Total
Current Assets |
|
|
2576.893 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
591.845 |
|
|
Other Current Liabilities |
|
|
223.949 |
|
|
Provisions |
|
|
44.910 |
|
Total
Current Liabilities |
|
|
860.704 |
|
|
Net Current Assets |
|
|
1716.189 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1891.032 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
4460.321 |
2373.982 |
2376.469 |
|
|
|
Installation and Contract Revenue |
|
|
53.717 |
|
|
|
Other Income |
|
|
128.950 |
|
|
|
TOTAL (A) |
4460.321 |
2373.982 |
2559.136 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
1717.205 |
|
|
|
Personnel Expenses |
|
|
182.105 |
|
|
|
Administrative and Others Expenses |
|
|
269.075 |
|
|
|
Increase / Decrease in Finished Goods and Work in Progress |
|
|
(26.234) |
|
|
|
TOTAL (B) |
4266.867 |
2216.308 |
2142.151 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
Including Financial
and Depreciation Expenses |
Including
Financial and Depreciation Expenses |
416.985 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES (D) |
|
|
19.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
396.987 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION (F) |
|
|
27.325 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
196.895 |
157.673 |
369.662 |
|
|
|
|
|
|
|
|
|
|
TAX (H) |
66.054 |
56.984 |
132.936 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
130.841 |
100.689 |
236.726 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1676.864 |
1576.175 |
1339.449 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1807.705 |
1676.864 |
1576.175 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
|
612.423 |
|
|
|
Commission Earnings |
806.628 |
763.702 |
13.190 |
|
|
|
Service Charges |
|
|
2.640 |
|
|
|
Miscellaneous Income |
|
|
0.994 |
|
|
TOTAL EARNINGS |
806.628 |
763.702 |
629.247 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
662.558 |
|
|
|
Stores & Spares |
NA |
NA |
0.150 |
|
|
|
Traded Goods |
NA |
NA |
288.825 |
|
|
|
Capital Goods |
NA |
NA |
0.302 |
|
|
TOTAL IMPORTS |
NA |
NA |
951.835 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.89 |
5.30 |
12.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.93
|
4.24 |
9.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
15.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.93
|
4.99 |
13.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.08 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.02
|
0.70 |
0.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.50
|
2.42 |
2.99 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
189.986 |
189.986 |
|
Reserves & Surplus |
1700.195 |
1831.038 |
|
Share Application money pending
allotment |
3.441 |
0.000 |
|
Net
worth |
1893.622 |
2021.024 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
80.280 |
513.236 |
|
Total
borrowings |
80.280 |
513.236 |
|
Debt/Equity
ratio |
0.042 |
0.254 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
2,376.469 |
2,373.982 |
4,460.321 |
|
|
|
-0.105 |
87.884 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
2,376.469 |
2,373.982 |
4,460.321 |
|
Profit |
236.726 |
100.689 |
130.841 |
|
|
9.96% |
4.24% |
2.93% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
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 |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
29.439 |
9.465 |
|
Loans repayable on demand from others |
483.797 |
70.815 |
|
|
|
|
|
Total |
513.236 |
80.280 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90106172 |
10/02/1999
* |
20,300,000.00 |
STATE
BANK OF INDIA |
MANDVI,
BARODA, GUJARAT, INDIA |
- |
|
2 |
90105613 |
20/08/1993
* |
7,500,000.00 |
STATE
BANK OF INDIA |
BARODA
MAIN BRANCH, BARODA, GUJARAT, INDIA |
- |
|
3 |
90103896 |
12/02/1996
* |
2,649,000.00 |
STATE
BANK OF INDIA |
MANDVI
BRANCH, BARODA, GUJARAT, INDIA |
- |
|
4 |
90104383 |
07/03/1990
* |
2,649,000.00 |
STATE
BANK OF INDIA |
BARODA
MAIN BRANCH, BARODA, GUJARAT, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Freehold Land
· Leasehold Improvements
· Buildings
· Plant and Machinery
· Patterns and Tools
· Furniture and Equipments
· Office Equipment
· Computers
· 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 records 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 records 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.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
|
51 |
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.