MIRA INFORM REPORT
|
Report Date : |
12.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
PREMIER LIMITED |
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Registered
Office : |
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Country : |
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Financials (as on)
: |
31.03.2014 |
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Date of
Incorporation : |
27.06.1944 |
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Com. Reg. No.: |
11-020842 |
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Capital
Investment / Paid-up Capital : |
Rs.303.995 Millions |
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CIN No.: [Company
Identification No.] |
L34103PN1944PLC020842 |
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Legal Form : |
A Public Limited Liability Company.
The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Subject operates in two business segments:
Engineering and Automotive. The Engineering segment consists of Manufacture
of CNC Machines and large mechanical components for the wind energy and
infrastructure sectors and professional and engineering services related
thereto. The Automotive Segment consists of Manufacture of Light and Sport
Utility Vehicles along with related spare parts as well as auto components
for other OEM’s. |
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No. of Employees
: |
1446 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Sales turnover of the company has declined resulting into sharp dip in
profit of the company during financial year 2014. However, the rating significant experience and technical expertise of
the promoters of premier in the engineering and automotive industry,
established track record in the segment and fair liquidity position of the
company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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 |
CARE |
|
Rating |
Long term bank facilities=BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
06.09.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities=A3 |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
06.09.2013 |
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
31-03-2014.
INFORMATION DENIED
Management Non Co-operative (91-20-66310000)
LOCATIONS
|
Registered Office / Works : |
Mumbai Pune Road, Chinchwad, Pune, Pune – 411019, Maharashtra,
India |
|
Tel. No.: |
91-20-66310000 |
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Fax No.: |
91-20-66310371 |
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E-Mail : |
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Website : |
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Corporate Office : |
58, Nariman Bhavan, 5th Floor, Nariman Point,
Mumbai – 400021, India |
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Tel. No.: |
91-22-61179000 / 1 / 2 |
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Fax No.: |
91-22-61179003 |
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Branch Office 1 : |
No
549-A, Parallel to 14th Cross, 4th Phase, Peenya Industrial Area, Bangalore –
560058, Karnataka, India |
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Tel. No.: |
91-80-28363071 |
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Fax No.: |
91-80-28363901 |
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Branch Office 2 : |
407,
4th Floor, World Trade Centre, Barkhamba Lane, New Delhi – 110001, India |
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Tel. No.: |
91-11-23413331 |
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Fax No.: |
91-11-23413332 |
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Branch Office 3 : |
T-8/1,
4th Main Road, Anna Nagar, Chennai – 600 040, Tamilnadu, India |
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Tel. No.: |
91-44-26190809 |
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Fax No.: |
91-44-26190302 |
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Branch Office 4 : |
1st
Floor, Commerce House, Room No 7 and 7A, 2, Ganesh Chandra Avenue, Kolkata – 700019,
West Bengal, India |
|
Tel. No.: |
91-33-22132953 |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Maitreya V. Doshi |
|
Designation : |
Chairman and Managing Director |
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Name : |
S. Padmanabhan |
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Designation : |
Director, IAS (Retd.) / Advisor |
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|
Name : |
Asit Javeri |
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Designation : |
Director, Industrialist |
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Name : |
Rohita M. Doshi |
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Designation : |
Computer Engineer |
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|
Name : |
Rohan Shah (upto 11.4.13) |
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Designation : |
Solicitor |
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Name : |
Udo Weigel |
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Designation : |
Machine Tool Technologist |
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Name : |
Kavita Khanna |
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Designation : |
Director, Management Consultant |
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Name : |
Dilip J. Thakkar |
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Designation : |
Director |
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Name : |
Ramesh Adige |
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Designation : |
Director,
Industry expert - Automotive, Pharma, Healthcare, Banking and Public Policy |
SENIOR MANAGEMENT
TEAM
|
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|
Name : |
M. D. Adhikari |
|
Designation : |
President |
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|
Name : |
K. G. Rathi |
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Designation : |
Vice President - Engineering Division |
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Name : |
D. S. Totre |
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Designation : |
Vice President - Machines Division |
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Name : |
Ramesh M. Tavhare |
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Designation : |
Vice President - Finance & Legal, Company Secretary |
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Name : |
Rakesh Mehta |
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Designation : |
Vice President - Automotive Division |
KEY EXECUTIVES
|
Name : |
K. S. Nair |
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Designation : |
General Manager - Finance |
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Name : |
S. D. Joshi |
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Designation : |
General Manager - Design and Development - Machines |
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Name : |
V. R. Kothari |
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Designation : |
General Manager - Gear Machines Business |
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Name : |
R. V. Nair |
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Designation : |
General Manager - Accounts and MIS |
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Name : |
P. G. Salunkhe |
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Designation : |
General Manager - Operations - Engineering |
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Name : |
N. M. Kuntoji |
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Designation : |
General Manager Commercial - Engineering |
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Name : |
V. Murugan |
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Designation : |
General Manager - Vehicle Engineering and Quality - Automotive |
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Name : |
A. P. Goel |
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Designation : |
General Manager - Sales and Marketing - Automotive |
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Name : |
Erica De Souza |
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Designation : |
General Manager -
Chairman’s Office, Corporate Communication CSR and Training |
SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals / Hindu Undivided Family |
40500 |
0.13 |
|
|
13612702 |
44.82 |
|
|
13653202 |
44.95 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
13653202 |
44.95 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
12074 |
0.04 |
|
|
1852714 |
6.10 |
|
|
1250 |
0.00 |
|
|
162300 |
0.53 |
|
|
2028338 |
6.68 |
|
|
|
|
|
|
2977347 |
9.80 |
|
|
|
|
|
|
7082987 |
23.32 |
|
|
4344192 |
14.30 |
|
|
286504 |
0.94 |
|
|
2911 |
0.01 |
|
|
141478 |
0.47 |
|
|
123145 |
0.41 |
|
|
18970 |
0.06 |
|
|
14691030 |
48.37 |
|
Total Public shareholding (B) |
16719368 |
55.05 |
|
Total (A)+(B) |
30372570 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
30372570 |
0.00 |
(1)
Indian
BUSINESS DETAILS
|
Line of Business : |
Subject operates in two business segments:
Engineering and Automotive. The Engineering segment consists of Manufacture
of CNC Machines and large mechanical components for the wind energy and infrastructure
sectors and professional and engineering services related thereto. The
Automotive Segment consists of Manufacture of Light and Sport Utility
Vehicles along with related spare parts as well as auto components for other
OEM’s. |
GENERAL INFORMATION
|
No. of Employees : |
1446 (Approximately) |
||||||||||||||||||||||||||||
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Bankers : |
·
State Bank of India ·
State Bank of Hyderabad ·
Corporation Bank ·
J&K Bank Limited |
||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Statutory
Auditors : |
K. S. Aiyar and Company Chartered Accountants |
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|
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Internal
Auditors : |
Jayesh Dadia and Associates Chartered Accountants |
|
|
|
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Cost Auditors : |
ABK and Associates Cost Accountants |
|
|
|
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Solicitors
: |
Kanga and Company Desai and Diwanji AMC Law Firm |
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|
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|
Associate Company: |
·
Doshi Holdings Private Limited ·
PAL Credti and Capital Limited ·
Premier Auto Limited |
|
|
|
|
Subsidiary of
Holding Company : |
DHPL Marine Private Limited |
|
|
|
|
Promoter Related
Trust : |
Shri Lalchand Hirachand Trust |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Not Divulged
Issued, Subscribed & Paid-up Capital : Rs.303.995
Millions
As on 31.03.2013
A)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs. 10/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30454180 |
Equity Shares |
Rs. 10/- each |
Rs.304.542 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30372570 |
Equity Shares |
Rs. 10/- each |
Rs.303.726 Millions |
|
81610 |
Add: Forfeited Equity Shares |
|
Rs.0.269 Million |
|
|
|
|
|
|
|
Total |
|
Rs.303.995
Millions |
B)
Reconciliation of number of equity shares
outstanding at the beginning and at the end of the year
|
Equity Shares |
Number of Shares
|
|
Number of shares
outstanding as at the beginning of the year |
30372570 |
|
Number of shares
outstanding as at the end of the year |
30372570 |
C)
The Rights, Preferences, Restriction including
restriction on the distribution of dividend and repayments of capital
1.
The Company is having only one class of
shares that is Equity carrying nominal value of Rs.10 per share.
2.
Every holder of equity share of the
Company is entitled to one vote per share held.
3.
In the event of liquidation of the
Company, the equity share holder will be entitled to receive remaining assets
of the Company after the distribution / repayments of all creditors. The
distribution to the shareholder will be in proportion of the number of shares
held by each shareholder.
4.
The Company declares and pays dividend on
the equity shares in Indian Rupees. Dividend proposed by the Board of Directors
is subject to approval of the shareholders at the ensuing Annual General
Meeting.
5.
During the year ended 31st March,2013
an amount of Rs.3.00 per equity share (30%) is proposed as dividend for the
equity shareholders (Previous year Rs. 3.00 per equity share ) Also a one-time
special dividend of Rs.4.00 per equity share (40%) has been proposed, making a
total dividend of Rs.7.00 per equity share(70%).
D)
Shares held by holding/ultimate holding company
and/or their subsidiaries / associates
The company is not a Subsidiary of any other company.
E)
Details of shareholders holding more than 5% shares
in the company
|
Name of Shareholder |
Number of Shares |
% holding |
|
Doshi Holdings Private Limited (Associate) |
13242385 |
43.60% |
|
Life Insurance Corporation of India |
1820815 |
5.99% |
|
Patton International Limited |
1786361 |
5.88% |
F)
The Company had issued 43,26,000 Convertible warrants
in the Year 2006-07. Out of these for 19,86,674 warrants equivalent numbers of
shares were allotted in the year 2007-08, for 23,18,053 warrants equivalent
number of shares were allotted in the year 2008-09, and the balance 21,273
warrants were forfeited by the Company in the year 2009-10.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
303.995 |
303.995 |
303.995 |
|
(b) Reserves & Surplus |
4682.185 |
4828.491 |
6800.429 |
|
(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) |
4986.180 |
5132.486 |
7104.424 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2503.580 |
3413.011 |
1693.875 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
139.970 |
0.000 |
|
(c) Other long term liabilities |
0.660 |
1.007 |
2.437 |
|
(d) long-term provisions |
67.889 |
67.093 |
65.063 |
|
Total Non-current Liabilities (3) |
2572.129 |
3621.081 |
1761.375 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1572.944 |
583.208 |
967.315 |
|
(b) Trade payables |
485.441 |
807.991 |
1002.593 |
|
(c) Other current
liabilities |
818.811 |
529.710 |
1141.187 |
|
(d) Short-term provisions |
134.810 |
536.827 |
179.668 |
|
Total Current Liabilities (4) |
3012.006 |
2457.736 |
3290.763 |
|
|
|
|
|
|
TOTAL |
10570.315 |
11211.303 |
12156.562 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5183.071 |
5514.867 |
7588.324 |
|
(ii) Intangible Assets |
333.407 |
417.805 |
8.224 |
|
(iii) Capital
work-in-progress |
268.077 |
190.082 |
949.475 |
|
(iv)
Intangible assets under development |
282.798 |
0.000 |
1182.152 |
|
(b) Non-current Investments |
36.492 |
36.492 |
36.297 |
|
(c) Deferred tax assets (net) |
164.967 |
0.000 |
115.800 |
|
(d) Long-term Loan and Advances |
273.387 |
46.053 |
61.417 |
|
(e) Other Non-current assets |
18.425 |
2208.177 |
7.909 |
|
Total Non-Current Assets |
6560.624 |
8413.476 |
9949.598 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
667.245 |
1001.470 |
930.240 |
|
(c) Trade receivables |
978.883 |
1089.561 |
725.801 |
|
(d) Cash and cash equivalents |
102.508 |
514.550 |
336.208 |
|
(e) Short-term loans and
advances |
244.083 |
187.177 |
207.322 |
|
(f) Other current assets |
2016.972 |
5.069 |
7.393 |
|
Total Current Assets |
4009.691 |
2797.827 |
2206.964 |
|
|
|
|
|
|
TOTAL |
10570.315 |
11211.303 |
12156.562 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1613.800 |
2408.321 |
2671.543 |
|
|
|
Other Income |
599.000 |
3132.504 |
31.655 |
|
|
|
TOTAL (A) |
2212.800 |
5540.825 |
2703.198 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1089.200 |
1429.255 |
1632.808 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(92.000) |
(16.290) |
(164.920) |
|
|
|
Employees benefits expense |
308.400 |
256.800 |
293.489 |
|
|
|
Other expenses |
285.800 |
395.443 |
448.787 |
|
|
|
Expenditure Capitalized (Internal Capitalisation) |
(314.500) |
(367.623) |
(196.044) |
|
|
|
Non-Recurring Items |
0.000 |
1752.918 |
0.000 |
|
|
|
TOTAL (B) |
1276.900 |
3450.503 |
2014.120 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
935.900 |
2090.322 |
689.078 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
661.800 |
517.611 |
419.056 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
274.100 |
1572.711 |
270.022 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
327.500 |
156.415 |
128.156 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(53.400) |
1416.296 |
141.866 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(304.900) |
539.827 |
(86.518) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
251.500 |
876.469 |
228.384 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
848.019 |
308.648 |
211.163 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
90.000 |
25.000 |
|
|
|
Dividend |
NA |
212.608 |
91.118 |
|
|
|
Tax on Dividend |
NA |
34.490 |
14.781 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
848.019 |
308.648 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
22.769 |
15.653 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
285.157 |
382.315 |
|
|
|
Capital Goods |
NA |
0.000 |
57.103 |
|
|
TOTAL IMPORTS |
NA |
285.157 |
439.418 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.28 |
28.86 |
7.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
11.37 |
15.82 |
8.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.31) |
58.81 |
5.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.54) |
12.89 |
1.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
0.28 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.82 |
0.78 |
0.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.14 |
0.67 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
303.995 |
303.995 |
303.995 |
|
Reserves & Surplus |
6800.429 |
4828.491 |
4682.185 |
|
Net
worth |
7104.424 |
5132.486 |
4986.180 |
|
|
|
|
|
|
long-term borrowings |
1693.875 |
3413.011 |
2503.580 |
|
Short term borrowings |
967.315 |
583.208 |
1572.944 |
|
Total
borrowings |
2661.190 |
3996.219 |
4076.524 |
|
Debt/Equity
ratio |
0.375 |
0.779 |
0.818 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
2,671.543 |
2,408.321 |
1,613.800 |
|
|
|
(9.853) |
(32.991) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
2,671.543 |
2,408.321 |
1,613.800 |
|
Profit |
228.384 |
876.469 |
251.500 |
|
|
8.55% |
36.39% |
15.58% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs.
In Millions |
|
Long Term
Borrowings |
|
|
Cumulative
Fixed Deposit from Public |
114.085 |
|
Cumulative
Fixed Deposit from Shareholders |
24.650 |
|
Non-Cumulative
Fixed Deposit from Public |
243.058 |
|
Non-Cumulative Fixed Deposit from Shareholders |
53.498 |
|
Non-Cumulative Fixed Deposit from Related Parties |
61.500 |
|
|
|
|
Short Term
Borrowings |
|
|
Cumulative
Fixed Deposit from Public |
52.615 |
|
Cumulative
Fixed Deposit from Shareholders |
7.255 |
|
Non-Cumulative
Fixed Deposit from Public |
77.350 |
|
Non-Cumulative
Fixed Deposit from Shareholders |
52.360 |
|
Inter-Corporate Deposits |
143.000 |
|
|
|
|
Total |
829.371 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10476306 |
07/02/2014 |
250,000,000.00 |
CORPORATION
BANK LIMITED |
VEENA
CHAMBER, GROUND FLOOR, DALAL STREET, FORT, MUMBAI, MAHARASHTRA - 400023,
INDIA |
B95798633 |
|
2 |
10426775 |
03/05/2013 |
1,000,000,000.00 |
THE
JAMMU AND KASHMIR BANK LIMITED |
124
A/B,SYED HOUSE,S. V. SAVARKAR MARG,, MAHIM WEST, MUMBAI, MAHARASHTRA - 400016,
INDIA |
B75509646 |
|
3 |
10421763 |
04/09/2013
* |
1,500,000,000.00 |
STATE
BANK OF INDIA |
COMMERCIAL
BRANCH, 2ND FLOOR, NGN VAIDYA MARG, HORNIMAN CIRCLE, FORT, MUMBAI,
MAHARASHTRA - 400023, |
B85944528 |
|
4 |
10307363 |
02/05/2013
* |
1,650,000,000.00 |
STATE
BANK OF INDIA |
COMMERCIAL
BRANCH, N.G.N. VAIDYA MARG, MUMBAI, MAHARASHTRA - 400093, INDIA |
B77868248 |
|
5 |
10302620 |
27/07/2011 |
100,000,000.00 |
FIRST
LEASING COMPANY OF INDIA LIMITED |
749, ANNA
SALAI,, CHENNAI, TAMIL NADU - 600002, INDIA |
B18963827 |
* Date of charge modification
FIXED ASSETS:
·
Freehold land
·
Buildings
·
Plant and machinery
·
Cars and vehicles
·
Office equipment
·
Dies and jigs
·
Computer
·
004Fther application software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.61.12 |
|
UK Pound |
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
42 |
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.