MIRA
INFORM REPORT
|
Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
BHARAT FRITZ WERNER LIMITED |
|
|
|
|
Registered
Office : |
Peenya, Yeshwantapur PO, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.10.1961 |
|
|
|
|
Com. Reg. No.: |
08-001433 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.71.792 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1961PLC001433 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB00311D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB5723A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Metal Cutting including Grinding
Machines. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limits : |
USD 5100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Flagship Company of Kothari Group. It is a well-established company having satisfactory track record. Profitability of the company seems to be low during 2013. However, general
financial position of the company is strong. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB [Fund Based Limits] |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
June, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3 + [Non Fund Based Limits] |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
June, 2014 |
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
31-03-2014.
INFORMATION DECLINED
Management Non-Cooperative
Contact No. : 91-80-28395745
LOCATIONS
|
Registered Office/ Factory : |
Peenya, Yeshwantapur PO, |
|
Tel. No.: |
91-80-28395745 / 39821100 |
|
Fax No.: |
91-80-28394816 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office / Administration / International Business Division : |
Off |
|
Tel. No.: |
91-80-28395745/ 39821100 |
|
Fax No.: |
91-80-28394816 |
|
E-Mail : |
|
|
|
|
|
Regional Office : |
206, Runwal Commercial Complex, LBS Marg, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Tel. No.: |
91-22-25653362/ 58 |
|
Fax No.: |
91-22-25653392 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Also Located At: ·
Belgaum ·
Chennai ·
Coimbatore ·
Germany ·
Hyderabad ·
Kolkata ·
New Delhi · Indore ·
Rajkot ·
Chandigarh · Pune |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Narendra Nath Upadhyay |
|
Designation : |
Whole – time Director |
|
Address : |
Flat B-102, Wellington Park Apartments, Richmond Town, Bangalore – 560 025, Karnataka, India |
|
Date of Birth/Age : |
01.11.1946 |
|
Qualification : |
M.com Member of ACS (Institute of Company Secretaries of India) Member of ICSA(The Institute of Chartered Secretaries and Administrators, London) |
|
Date of Appointment : |
25.11.2010 |
|
DIN No.: |
00033678 |
|
|
|
|
Name : |
Mr. Shailesh Rajnikant Sheth |
|
Designation : |
Director |
|
Address : |
Shakuntala School Building, Flat No.2, First Floor, 38, Maharshi Karve Marg, Marine Lines, Mumbai – 400 020, Maharashtra, India |
|
Date of Birth/Age : |
29.12.1946 |
|
Qualification : |
B.com, Post Graduate Diploma in Business Administration-Indian Institute of Management |
|
Date of Appointment : |
01.12.2003 |
|
DIN No.: |
00041713 |
|
|
|
|
Name : |
Mrs. Prabhawati Devi Kothari |
|
Designation : |
Director |
|
Address : |
Kothari Niwas, 6B, Penn Road, Kolkata – 700 027, West Bengal, India |
|
Date of Birth/Age : |
10.09.1957 |
|
Qualification : |
B.com |
|
Date of Appointment : |
10.10.2003 |
|
DIN No.: |
00051860 |
|
|
|
|
Name : |
Mr. Arun Kumar Kothari |
|
Designation : |
Chairman |
|
Address : |
Kothari Niwas, 6B, Penn Road, Kolkata – 700 027, West Bengal, India |
|
Date of Birth/Age : |
10.07.1953 |
|
Qualification : |
B.com |
|
Date of Appointment : |
10.10.2003 |
|
DIN No.: |
00051900 |
|
|
|
|
Name : |
Mr. Sunil Vasantrao Diwakar |
|
Designation : |
Director |
|
Address : |
C-002, Shreeji Ville, Opposite Nitin Company, Almeda Road, Panchpakhadi, Thane (West) – 400 602, Maharashtra, India |
|
Date of Birth/Age : |
22.05.1963 |
|
Date of Appointment : |
28.07.2008 |
|
DIN No.: |
00089266 |
|
|
|
|
Name : |
Mr. Ajit Khandelwal |
|
Designation : |
Director |
|
Address : |
4B, Ashok Towers, 11A, Palm Avenue, Kolkata – 700 019, West Bengal, India |
|
Date of Birth/Age : |
10.11.1957 |
|
Qualification : |
Bachelor of Engineering (Mechanical) Master of Technology- IIT, Chennai Post Graduate Diploma In International Management |
|
Date of Appointment : |
07.12.2006 |
|
DIN No.: |
00416445 |
|
|
|
|
Name : |
Haigreve Khaitan |
|
Designation : |
Director |
|
Address : |
1104, Stering Sea Face, Dr. AB Road, Worli, Mumbai-400018, Maharashtra, India |
|
Date of Birth/Age : |
13.07.1970 |
|
Date of Appointment : |
06.08.2013 |
|
DIN No.: |
00005290 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Nath Upadhaya |
|
Designation : |
Secretary |
|
Address : |
Flat B 102, Wellingtonpark Apartments, Wellington Street, Richmond
Town, Bangalore-560025, Karnataka, India
|
|
Date of Birth/Age : |
01.11.1946 |
|
Date of Appointment : |
08.11.1978 |
|
Pan No.: |
AAJPU4331R |
|
|
|
|
Name : |
Mr. Sujay Das Gupta |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
Kothari and Company Private Limited, |
|
5787940 |
|
Kothari Giridhar Das |
|
43000 |
|
Commercial House Private Limited, India |
|
3608549 |
|
Kothari Investment and Industries Private Limited, India |
|
6532661 |
|
M.D. Kothari and Company Limited, India |
|
2393991 |
|
Vishnuhari Investment Properties Limited, India |
|
2715128 |
|
Kothari Devi Prabhawati |
|
4000000 |
|
Kothari Kumar Arun |
|
18600 |
|
Gillanders Arbuthnot and Company Limited, India |
|
237380 |
|
Premier Suppliers Private Limited, India |
|
99532 |
|
Kothari Phyto chemicals and Industries Limited, India |
|
298504 |
|
Bhaktwatsal Investments Limited, India |
|
251785 |
|
Kothari Capital and Securities Private Limited, India |
|
14930 |
|
|
|
|
|
TOTAL
|
|
26002000 |
|
Names of Preferences Shareholders |
|
No. of Shares |
|
Gillanders Arbuthnot and Company Limited, India |
|
2444431 |
|
Vishnuhari Investment Properties Limited, India |
|
182409 |
|
Gdas and Company Private Limited, India |
|
398069 |
|
Premier Suppliers Private Limited, India |
|
221919 |
|
Albert David Limited, India |
|
1642034 |
|
|
|
|
|
TOTAL
|
|
4888862 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
86.86 |
|
Directors
or relatives of directors |
|
13.14 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Metal Cutting including Grinding
Machines. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
Customer : |
·
Greaves Group ·
Hindustan Aeronautics Limited ·
Honda Group ·
Wheels India ·
TVS Motors |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
Information denied by the management. |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Bank of India, Midcorporate branch, 1st
Floor, Bank of India building, No. 11, kempe Gowda Road, Bangalore – 560 009,
Karnataka, India ·
State Bank of India, Specialised MID Corporate
Branch, No.97, Railway Parallel Road, Kumarapark West, Bangalore – 560 020,
Karnataka, India ·
Axis Bank Limited, Corporate banking Branch,
Express Building, 2nd Floor, No.1, Queen’s Road, Bangalore – 560
001, Karnataka, India ·
Canara Bank, Industrial Finance Branch, No.83,
Richmond Road, Bangalore – 560 025, Karnataka, India ·
HDFC Bank Limited, Airport Road,
Bangalore-560016, Karnataka, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
12th and 13th Floor, "UB City" Canbera
Block, No.24, Vittal |
|
Tel. No.: |
91-80-40275000 |
|
Fax No.: |
91-80-22106000 |
|
PAN No: |
AABFS3421N |
|
|
|
|
Subsidiaries : |
·
Matec Maschinenbau GmbH, Germany ·
Bharat Fritz Werner GmbH, Germany ·
Microsys Design Lab Pte. Limited, Singapore ·
Bangalore Agrotech Limited, India [U85110KA1994PLC016420] ·
Excel Precision Manufacturing Limited [U27101KA1978PLC003395] |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
90000000 |
Equity Shares |
Rs.2/- each |
Rs.180.000 Millions |
|
10000000 |
Preferences Shares |
Rs.2/- each |
Rs.20.000 Millions |
|
|
TOTAL
|
|
Rs.200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
26002000 |
Equity Shares |
Rs.2/- each |
Rs.52.004
Millions |
|
4888862 |
Preferences Shares |
Rs.2/- each |
Rs.9.777
Millions |
|
|
TOTAL |
|
Rs.61.781 Millions |
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000000 |
Equity Shares |
Rs.2/- each |
Rs.200.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35895952 |
Equity Shares |
Rs.2/- each |
Rs.71.792 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 |
71.792 |
71.792 |
71.791 |
|
(b) Reserves & Surplus |
1200.526 |
1192.359 |
1057.600 |
|
(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) |
1272.318 |
1264.151 |
1129.391 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
502.600 |
630.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
51.867 |
45.013 |
0.000 |
|
(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) |
554.467 |
675.013 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
232.816 |
32.852 |
118.771 |
|
(b)
Trade payables |
572.943 |
1371.234 |
879.524 |
|
(c) Other
current liabilities |
453.303 |
689.097 |
321.052 |
|
(d) Short-term
provisions |
123.243 |
120.032 |
95.559 |
|
Total Current
Liabilities (4) |
1382.305 |
2213.215 |
1414.906 |
|
|
|
|
|
|
TOTAL |
3209.090 |
4152.379 |
2544.297 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
686.509 |
722.457 |
679.061 |
|
(ii)
Intangible Assets |
17.642 |
23.356 |
23.317 |
|
(iii) Capital
work-in-progress |
0.000 |
7.387 |
0.959 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
957.934 |
1057.838 |
108.926 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
31.932 |
|
(d) Long-term Loan and Advances |
335.819 |
406.985 |
226.526 |
|
(e) Other
Non-current assets |
1.105 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1999.009 |
2218.023 |
1070.721 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
17.836 |
60.536 |
280.800 |
|
(b)
Inventories |
769.658 |
1115.449 |
581.852 |
|
(c)
Trade receivables |
122.282 |
368.544 |
479.028 |
|
(d) Cash
and cash equivalents |
174.130 |
69.626 |
58.482 |
|
(e) Short-term
loans and advances |
124.682 |
317.320 |
73.189 |
|
(f)
Other current assets |
1.493 |
2.881 |
0.225 |
|
Total
Current Assets |
1210.081 |
1934.356 |
1473.576 |
|
|
|
|
|
|
TOTAL |
3209.090 |
4152.379 |
2544.297 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3641.046 |
4477.355 |
3398.776 |
|
|
|
Other Income |
32.007 |
33.329 |
33.433 |
|
|
|
TOTAL (A) |
3673.053 |
4510.684 |
3432.209 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of materials consumed |
2219.107 |
3020.508 |
2057.585 |
|
|
|
Employee
benefit expense |
662.352 |
690.210 |
518.282 |
|
|
|
Other
expenses |
515.717 |
681.167 |
505.824 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and stock-in-trade |
79.323 |
(266.778) |
55.229 |
|
|
|
TOTAL (B) |
3476.499 |
4125.107 |
3136.920 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
196.554 |
385.577 |
295.289 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
103.121 |
75.242 |
27.036 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
93.433 |
310.335 |
268.253 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
71.927 |
68.972 |
65.861 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
21.506 |
241.363 |
202.392 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.338 |
85.745 |
(30.735) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
8.168 |
155.618 |
233.127 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB
value of manufactured goods exported |
135.217 |
230.938 |
30.627 |
|
|
|
Earnings
on interest |
1.305 |
4.958 |
0.000 |
|
|
|
Earnings
on other income |
3.435 |
6.945 |
0.000 |
|
|
TOTAL EARNINGS |
139.957 |
242.841 |
30.627 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
545.156 |
893.448 |
588.381 |
|
|
|
Capital Goods |
36.853 |
0.801 |
2.005 |
|
|
TOTAL IMPORTS |
582.009 |
894.249 |
590.386 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
-
Basic |
0.31 |
5.76 |
8.79 |
|
|
|
-
Diluted |
0.23 |
4.34 |
6.49 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.22
|
3.45 |
6.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.59
|
5.39 |
5.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.95
|
7.82 |
84.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.19 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.57
|
0.52 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87
|
3.57 |
1.04 |
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 |
71.791 |
71.792 |
71.792 |
|
Reserves & Surplus |
1057.600 |
1192.359 |
1200.526 |
|
Net worth |
1,129.391 |
1,264.151 |
1,272.318 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
630.000 |
502.600 |
|
Short term borrowings |
118.771 |
32.852 |
232.816 |
|
Total borrowings |
118.771 |
662.852 |
735.416 |
|
Debt/Equity ratio |
0.105 |
0.524 |
0.578 |
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) |
|
Revenue from operations |
3398.776 |
4477.355 |
3641.046 |
|
|
|
31.734 |
(18.679) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from operations |
3398.776 |
4477.355 |
3641.046 |
|
Profit After Tax |
233.127 |
155.618 |
8.168 |
|
|
6.86% |
3.48% |
0.22% |
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 |
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 |
Yes |
|
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] |
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 |
10437999 |
11/07/2013 * |
350,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL
BRANCH(07502) MID CORPORATE GROUP, 24 |
B80851611 |
|
2 |
10360743 |
04/07/2013 * |
610,000,000.00 |
BANK OF INDIA |
MID CORPORATE BRANCH, BOI BUILDING, NO. 11, K G ROAD, BANGALORE - 560009, KARNATAKA, INDIA |
B80385529 |
|
3 |
10309052 |
11/07/2013 * |
700,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, EXPRESS BUILDING, 2ND FLOOR, NO.1, QUEEN'S ROAD, BANGALORE - 560001, KARNATAKA, INDIA |
B81013971 |
|
4 |
80007544 |
04/07/2013 * |
555,050,000.00 |
CANARA BANK |
INDUSTRIAL FINANCE BRANCH, VENKATADRI COMPLEX, NO. 83, RICHMOND ROAD, BANGALORE - 560025, KARNATAKA, INDIA |
B80386048 |
FIXED ASSETS:
Tangible Assets:
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
Intangible Assets:
· Computer Software
· Patterns
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.60.87 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.81.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis done
by: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
48 |
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.