MIRA INFORM REPORT
|
Report Date : |
23.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHRINIWAS ENGINEERING AUTO COMPONENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No.5, Manasara Apartments, 1108/4, University Road, Near Suryamukhi
Datta Mandir, Pune-411016, Maharashtra
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.12.2005 |
|
|
|
|
Com. Reg. No.: |
11-021693 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.462.430
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300PN2005PTC021693 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES19448C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS8944F |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Auto Components such as Cylinder Blocks, Cylinder Heads, Gearbox Housing, Valve Bodies and Axle Casing and Transmission Cases. |
|
|
|
|
No. of Employees
: |
200 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4317200 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Management of the company has failed to file its latest financials of
2013 with government department. As per financials of 2012, company has performed well. Overall
financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered 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 – 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB – [Long Term] |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
05.08.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3 [Short Term] |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
05.08.2013 |
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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Lala |
|
Designation : |
Assistant Manager |
|
Contact No.: |
91-9225607842 |
|
Date : |
18.04.2014 |
LOCATIONS
|
Registered Office : |
Office No.5, Manasara Apartments, 1108/4, University Road, Near
Suryamukhi Datta Mandir, Pune-411016, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9225607842 [Mr. Lala] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Godown / Factory : |
Gat No.492, Near Talegaon MIDC, Village Navlakh, Umbre, Taluka Maval,
Pune-410507.Maharashtra, India |
|
Tel. No.: |
91-20-25665099 |
|
Fax No.: |
91-20-25665099 |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Rasamoy Dayamoy Chakraborty |
|
Designation : |
Chairman cum Director |
|
Address : |
New Ajantha Avenue, Paud Road, Pune-411038, Maharashtra, India |
|
Date of Birth/Age : |
01.09.1941 |
|
Date of Appointment : |
30.03.2008 |
|
Din No.: |
00011581 |
|
|
|
|
Name : |
Mr. Giridhari Shriniwas Kale |
|
Designation : |
Managing Director |
|
Address : |
C-10, Abhimanshree Society, Baner Road, Pune-411007, Maharashtra,
India |
|
Date of Birth/Age : |
10.01.1959 |
|
Date of Appointment : |
15.12.2005 |
|
Din No.: |
01318155 |
|
|
|
|
Name : |
Mrs. Prajakta Giridhari Kale |
|
Designation : |
Director |
|
Address : |
C-10, Abhimanshree Society, Baner Road, Pune-411007, Maharashtra,
India |
|
Date of Birth/Age : |
25.02.1962 |
|
Date of Appointment : |
15.12.2005 |
|
Din No.: |
01876039 |
|
|
|
|
Name : |
Mr. Amar Sampatrao Thorat |
|
Designation : |
Director |
|
Address : |
Ranjeet Apartment, Model Colony, Shivaji Nagar, Pune-411016,
Maharashtra, India |
|
Date of Birth/Age : |
19.12.1957 |
|
Date of Appointment : |
30.03.2008 |
|
Din No.: |
02223782 |
|
|
|
|
Name : |
Mr. Ramniwas Shriniwas Kale |
|
Designation : |
Director |
|
Address : |
C-10, Abhimanshree Society, Baner Road, Pune-411007, Maharashtra,
India |
|
Date of Birth/Age : |
01.06.1959 |
|
Date of Appointment : |
30.03.2008 |
|
Din No.: |
02461833 |
|
|
|
|
Name : |
Mr. Alok Giridhari Kale |
|
Designation : |
Executive Director |
|
Address : |
C-10, Abhimanshree Society, Baner Road, Pune-411007, Maharashtra,
India |
|
Date of Birth/Age : |
25.08.1984 |
|
Date of Appointment : |
30.03.2008 |
|
Din No.: |
02335219 |
|
|
|
|
Name : |
Ms. Mohini Giridhari Kale |
|
Designation : |
Director |
|
Address : |
C-10, Abhimanshree Society, Baner Road, Pune-411007, Maharashtra,
India |
|
Date of Birth/Age : |
08.10.1988 |
|
Date of Appointment : |
09.03.2009 |
|
Din No.: |
02480660 |
|
|
|
|
Name : |
Mr. Ramkumar Ananthanarayan Tattamangalam |
|
Designation : |
Nominee Director |
|
Address : |
402, Vinspa 6, Boat Club Road, Pune-411001, Maharashtra, India |
|
Date of Birth/Age : |
29.12.1965 |
|
Date of Appointment : |
05.02.2011 |
|
Din No.: |
00078171 |
|
|
|
|
Name : |
Mr. Rajesh Mharolkar |
|
Designation : |
Executive Director |
|
Address : |
101, Vanashree Elegance Baner Residency, S. No. 80/2, Aundh,
Pune-411007, Maharashtra, India |
|
Date of Birth/Age : |
09.10.1968 |
|
Date of Appointment : |
28.03.2012 |
|
Din No.: |
05253204 |
|
|
|
|
Name : |
Mr. Ramchandra Vishwambhar Belhe |
|
Designation : |
Executive Director |
|
Address : |
254, Grahakul Society, Sahakar Nagar No. 1, Aranyeshwar, Pune-411009,
Maharashtra, India |
|
Date of Birth/Age : |
19.08.1951 |
|
Date of Appointment : |
30.06.2012 |
|
Din No.: |
05348135 |
|
|
|
|
Name : |
Mr. Narayanaswamy Ramani |
|
Designation : |
Nominee Director |
|
Address : |
CL-2/101, Bramha Suncity, Wadgaon Sheri, Pune-411014, Maharashtra,
India |
|
Date of Birth/Age : |
29.08.1951 |
|
Date of Appointment : |
26.09.2012 |
|
Din No.: |
02600353 |
KEY EXECUTIVES
|
Name : |
Mr. Lala |
|
Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
No. of Equity
Shares |
No. of
Preferences Shares |
|
Giridhari Shriniwas Kale HUF |
800000 |
-- |
|
Sangita A Kale |
50000 |
-- |
|
Vimal Kale |
100000 |
-- |
|
Ramniwas Kale |
100000 |
-- |
|
Satyanarayan Kale |
50000 |
-- |
|
Kaveribai Kale |
100000 |
-- |
|
Sonia Kale |
250000 |
-- |
|
Mohini Kale |
700000 |
-- |
|
Manishkumar Gilda |
600000 |
-- |
|
Saswati Chakraborty |
5000 |
-- |
|
Nileema Thorat |
35000 |
-- |
|
Pradeep Deshmukh |
10000 |
-- |
|
Kamana Alok Kale |
100000 |
-- |
|
Sandeeep Kulkarni |
10000 |
-- |
|
Prajakta Giridhari kale |
19809120 |
22500 |
|
Alok Giridhari Kale |
3062141 |
6800 |
|
Tata Capital Special Situation Fund-Trust |
1012659 |
580000 |
|
Giridhari Shrinivas Kale |
13206080 |
15000 |
|
|
|
|
|
TOTAL
|
40000000 |
624300 |
AS ON 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
2.68 |
|
Directors
or relatives of directors |
|
97.32 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Auto Components such as Cylinder Blocks, Cylinder Heads, Gearbox Housing, Valve Bodies and Axle Casing and Transmission Cases. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
UK |
|
|
|
|
Imports : |
|
|
Products : |
Machinery |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
LC and Credit |
|
|
|
|
Purchasing : |
LC and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
200 [Approximately] |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B
K Khare and Company Chartered
Accountants |
|
Address : |
706/708, Shradha
Chambers, New Marine Lines, Mumbai - 400020, Maharashtra, India |
|
PAN No: |
AAAFB0265E |
|
|
|
|
Other Related Parties : |
Tirupati
Enterprises |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
|
800000 |
Preferences Shares |
Rs.100/- each |
Rs.80.000 Millions |
|
|
TOTAL
|
|
Rs.480.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
|
624300 |
Preferences Shares |
Rs.100/- each |
Rs.62.430
Millions |
|
|
TOTAL |
|
Rs.462.430 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 |
|
462.430 |
462.430 |
|
(b) Reserves &
Surplus |
|
607.451 |
467.949 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
9.420 |
6.920 |
|
Total Shareholders’ Funds
(1) + (2) |
|
1079.301 |
937.299 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2115.965 |
1656.382 |
|
(b) Deferred tax
liabilities (Net) |
|
(74.697) |
24.292 |
|
(c) Other long term
liabilities |
|
55.149 |
38.079 |
|
(d) long-term provisions |
|
3.927 |
2.071 |
|
Total Non-current
Liabilities (3) |
|
2100.344 |
1720.824 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
651.071 |
458.039 |
|
(c) Other current
liabilities |
|
458.707 |
274.695 |
|
(d) Short-term provisions |
|
10.447 |
8.242 |
|
Total Current Liabilities
(4) |
|
1120.225 |
740.976 |
|
|
|
|
|
|
TOTAL |
|
4299.870 |
3399.099 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1638.566 |
1195.044 |
|
(ii) Intangible Assets |
|
0.499 |
0.262 |
|
(iii) Capital
work-in-progress |
|
1222.132 |
820.433 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
372.979 |
329.595 |
|
(e) Other Non-current
assets |
|
8.920 |
29.103 |
|
Total Non-Current Assets |
|
3243.096 |
2374.437 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
493.900 |
279.500 |
|
(c) Trade receivables |
|
259.063 |
291.454 |
|
(d) Cash and cash
equivalents |
|
46.495 |
369.974 |
|
(e) Short-term loans and
advances |
|
6.344 |
3.743 |
|
(f) Other current assets |
|
250.972 |
79.991 |
|
Total Current Assets |
|
1056.774 |
1024.662 |
|
|
|
|
|
|
TOTAL |
|
4299.870 |
3399.099 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
390.000 |
|
|
2] Share Application Money |
|
|
35.064 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(43.128) |
|
|
NETWORTH |
|
|
381.936 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1460.354 |
|
|
2] Unsecured Loans |
|
|
19.091 |
|
|
TOTAL BORROWING |
|
|
1479.445 |
|
|
DEFERRED TAX LIABILITIES |
|
|
(8.102) |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1853.279 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1255.086 |
|
|
Capital work-in-progress |
|
|
341.371 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
153.022 |
|
|
Sundry Debtors |
|
|
237.702 |
|
|
Cash & Bank Balances |
|
|
11.604 |
|
|
Other Current Assets |
|
|
0.573 |
|
|
Loans & Advances |
|
|
155.498 |
|
Total
Current Assets |
|
|
558.399 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
302.659 |
|
|
Provisions |
|
|
1.797 |
|
Total
Current Liabilities |
|
|
304.456 |
|
|
Net Current Assets |
|
|
253.943 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
2.879 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1853.279 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2423.200 |
1719.300 |
1219.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
139.500 |
(50.700) |
27.200 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.43 |
(1.25) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.75
|
(2.95) |
2.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.96
|
1.77 |
3.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.94
|
1.38 |
1.83 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
|
462.430 |
462.430 |
|
Reserves & Surplus |
|
467.949 |
607.451 |
|
Net worth |
|
930.379 |
1069.881 |
|
|
|
|
|
|
long-term borrowings |
|
1656.382 |
2115.965 |
|
Short term borrowings |
|
0.000 |
0.000 |
|
Total borrowings |
|
1656.382 |
2115.965 |
|
Debt/Equity ratio |
|
1.780 |
1.978 |
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) |
|
Total Income |
1219.600 |
1719.300 |
2423.200 |
|
|
|
40.972 |
40.941 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
1219.600 |
1719.300 |
2423.200 |
|
Profit |
27.200 |
(50.700) |
139.500 |
|
|
2.23% |
(2.95%) |
5.76% |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
10484077 |
01/03/2014 |
330,000,000.00 |
BANK OF MAHARASHTRA |
BAJIRAO ROAD BRANCH,,
BAJIRAO ROAD, BUDHWAR PETH, PUNE- 411007, MAHARASHTRA, INDIA |
C00148585 |
|
2 |
10454888 |
27/09/2013 |
440,000,000.00 |
BANK OF BARODA (S B ROAD
BRANCH) |
AMIT CRYSTAL, SENAPATI
BAPAT ROAD, PUNE - 411016, MAHARASHTRA, INDIA |
B87489530 |
|
3 |
10441187 |
07/01/2013 |
450,000,000.00 |
BANK OF MAHARASHTRA |
BAJIRAO ROAD BRANCH,
BAJIRAO ROAD, BUDHWAR PETH, |
B74253238 |
|
4 |
10397329 |
29/11/2012 |
550,000,000.00 |
BANK OF BARODA |
SENAPATI BAPAT ROAD
BRANCH, AMIT CRYSTALS OPP CHA |
B66006313 |
|
5 |
10353963 |
17/04/2012 |
50,000,000.00 |
BANK OF BARODA (S. B.
ROAD BRANCH) |
SENAPATI BAPAT ROAD
BRANCH, AMIT CRYSTALS OPP CHA |
B39033972 |
|
6 |
10341803 |
01/03/2012 |
2,462,500,000.00 |
BANK OF BARODA (S B ROAD
BRANCH) |
SENAPATI BAPAT ROAD
BRANCH, AMIT CRYSTALS OPP CHA |
B34870063 |
|
7 |
10264149 |
31/12/2010 |
1,448,500,000.00 |
BANK OF BARODA (S. B.
ROAD BRANCH) |
SENAPATI BAPAT ROAD
BRANCH, AMIT CRYSTALS OPP CHA |
B05142534 |
|
8 |
10248486 |
28/09/2010 |
221,400,000.00 |
BANK OF MAHARASHTRA |
BAJIRAO ROAD BRANCH,
BAJIRAO ROAD, BUDHWAR PETH, |
A97808992 |
|
9 |
10095338 |
01/10/2007 |
501,400,000.00 |
BANK OF MAHARASHTRA |
BAJIRAO ROAD BRANCH,
BAJIRAO ROAD, BUDHWAR PETH, |
A35116615 |
|
10 |
10011367 |
15/03/2007 * |
525,000,000.00 |
BANK OF MAHARASHTRA |
BAJIRAO ROAD BRANCH,
BAJIRAO ROAD, BUDHWAR PETH, |
A66110933 |
* Date of charge modification
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Bonds/Debentures |
122.647 |
122.647 |
|
TOTAL
|
122.647 |
122.647 |
OPERATIONS:
During the year the Company
has achieved total Income of Rs. 2423.200 Millions as against Rs. 1719.300
Millions of the previous year, showing an increase of 41% over the previous
year and made net profit of Rs. 139.500 Millions as against Net loss of Rs.
50.700 Millions of the previous year.
The company became the
major supplier to the leading Automobile manufacturers like TATA Motors,
Mahindra and Mahindra, Fiat, General Motors, Mercedes-Benz etc. and also to
construction equipment manufacturing Companies like JCB, John Deere, New Holland
etc. The Company is also in the process of expanding its castings manufacturing
facility at Talegaon Factory. Further, the production capacity will increase
from current 45,000 MT castings per annum to 1,00,000 MT castings per annum.
The Board expects the same level of improved performance in coming years.
FINANCE:
During the year the Company
has consolidated previous Term Loans availed from Bank of Maharashtra, Bajirao
Road branch, Pune and from Bank of Baroda, Senapati Bapat Road, Pune totalling Rs.
2462.500 Millions. Further, the Company has availed financial assistance of Rs.
50.000 Millions (Cash Credit facility) from Bank of Baroda for working Capital
and Rs. 300.000 Millions from Mahindra and Mahindra Financial Services Limited
for expansion program.
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.60.71 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.83.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
|
44 |
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.