MIRA
INFORM REPORT
|
Report Date : |
18.08.2014 |
|
|
|
|
Tel. No.: |
91 (2164) 258515 TO 21 |
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Fax No.: |
91 (2164) 258522/23 |
IDENTIFICATION DETAILS
|
Name : |
KARAD PROJECTS AND MOTORS LIMITED [w.e.f. 10.08.2013] |
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|
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|
Formerly Known
As : |
KIRLOSKAR CONSTRUCTIONS AND ENGINEERS LIMITED [w.e.f. 30.10.2007] ABAN CONSTRUCTIONS LIMITED [w.e.f. 13.07.2007] ABAN CONSTRUCTIONS PRIVATE LIMITED |
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Registered
Office : |
B 67 and 68, MIDC Karad Industrial Area, Tasawade, Satara-415109,
Maharashtra |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
02.04.2001 |
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|
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|
Com. Reg. No.: |
149623 [New] 18-046895 [Old] |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.139.525
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45203PN2001PLC149623 [New] U45203TN2001PLC046895 [Old] |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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|
Line of Business
: |
Manufacturer and Dealers of Goods in All Metals, Ferrous and
Non-Ferrous and Metal Compounds, Business of Mechanical, Structural,
Electrical, Civil and Marine Engineers and in All Types of Construction Work,
Inclusive of Pipe Laying, Fabrication and Erection of Steel or poly Vinyl
Chloride Pipes. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2700000 |
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|
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “KIRLOSKAR BROTHERS LIMITED”. It is an
established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile and continuous losses that the company has incurred from its
operational activities. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
NEWS
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.
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-Cooperative
Contact No.: 91-2164-258426
LOCATIONS
|
Registered Office / Correspondence Office / Factory / Motor Division: |
B 67 and 68, MIDC Karad Industrial Area, Tasawade, Satara - 415109,
Maharashtra, India |
|
Tel. No.: |
91-2164-258426/ 258427/ 258428/ 258429/ 258425 |
|
Fax No.: |
91-2164-258425 |
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E-Mail : |
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|
Website : |
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Corporate Office : |
Udyog Bhavan, Tilak Road, Pune-411002, Maharashtra, India |
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Stamping Division : |
Plot No D-2, D2/1, MIDC Tasawade, Karad Industrial Area, Pune
Bangalore Road, Near Karad Toll Plaza Satara - 415109, Maharashtra, India |
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Component Division : |
Located At : Satara, Maharashtra, India |
DIRECTORS
AS ON 31.05.2013
|
Name : |
Mr. Anant Ramkrishna Sathe |
|
Designation : |
Managing Director |
|
Address : |
4, Vinayak Apartment, Opposite Araneshwar Temple, Sahakarnagar,
Pune-411009, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1952 |
|
Date of Appointment : |
01.11.2013 |
|
Din No.: |
00154924 |
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|
|
|
Name : |
Mr. Sanjay Chandrakant Kirloskar |
|
Designation : |
Director |
|
Address : |
33, Suyojana Co-operative Society, Scheme-II, Koregaon Park,
Pune-411001, Maharashtra, India |
|
Date of Birth/Age : |
22.03.1957 |
|
Date of Appointment : |
29.09.2006 |
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Date of Cessation : |
10.10.2013 |
|
Din No.: |
00007885 |
|
Name : |
Padmakar Shamsundar Jawadekar |
|
Designation : |
Director |
|
Address : |
No. 670, 5th Main, 12th Cross, M C Layout,
Vijayanagar, Bangalore – 560040, Karnataka, India |
|
Date of Birth/Age : |
26.04.1941 |
|
Date of Appointment : |
22.11.2006 |
|
Date of Cessation : |
22.07.2013 |
|
DIN No. : |
00155177 |
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|
|
|
Name : |
Jayant Raghunath Sapre |
|
Designation : |
Director |
|
Address : |
Dwelling Row House No. 1, V R Pai marg, S. No. 267/3 B, Nachiket Park,
Baner Road, Pune – 411045, Maharashtra, India |
|
Date of Birth/Age : |
11.07.1945 |
|
Date of Appointment : |
29.09.2006 |
|
Date of cessation : |
26.08.2013 |
|
DIN No. : |
00155251 |
Note : Other name of director’s details are not available.
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.05.2013
|
Names of Shareholders |
No. of Equity Shares |
No. of Preferences
Shares |
|
Kirloskar Brothers Limited, India |
16100184 |
25000000 |
|
Sanjay C. Kirloskar Nominee of Kirloskar Brothers Limited, India |
49768 |
-- |
|
Jayant Raghunath Sapre and Kirloskar Brothers Limited, India |
10 |
-- |
|
Anant Ramkrishna Sathe and Kirloskar Brothers Limited, India |
10 |
-- |
|
Padmakar Shamsunder Jawadekar and Kirloskar Brothers Limited, India |
10 |
-- |
|
Vinayak Ramchandra Kulkarni and Kirloskar Brothers Limited, India |
10 |
-- |
|
Rajendra Vasant Mahajan and Kirloskar Brothers Limited, India |
10 |
-- |
|
|
|
|
|
TOTAL
|
16150002 |
25000000 |
AS ON 29.08.2013
|
Names of Allottees |
|
No. of Shares |
|
Kirloskar Brothers Limited, India |
|
9836190 |
|
Sanjay C. Kirloskar Nominee of Kirloskar Brothers Limited, India |
|
210 |
|
Jayant Raghunath Sapre and Kirloskar Brothers Limited, India |
|
210 |
|
Alok Kirloskar and Kirloskar Brothers Limited, India |
|
210 |
|
Gurunath G Palekar and
Kirloskar Brothers Limited, India |
|
210 |
|
Rajendra Vasant Mahajan and Kirloskar Brothers Limited, India |
|
210 |
|
Vinayak Ramchandra Kulkarni and Kirloskar Brothers Limited, India |
|
210 |
|
|
|
|
|
TOTAL |
|
9837450 |
AS ON 31.05.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Dealers of Goods in All Metals, Ferrous and
Non-Ferrous and Metal Compounds, Business of Mechanical, Structural,
Electrical, Civil and Marine Engineers and in All Types of Construction Work,
Inclusive of Pipe Laying, Fabrication and Erection of Steel or poly Vinyl Chloride
Pipes. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
·
State Bank of India, Broadway, Ernakulam, Kerala,
India ·
ICICI Bank Limited, ICICI Bank Towers, Bandra
Kurla Complex Bandras (East), Mumbai - 400051, Maharashtra, India ·
Syndicate Bank, M.G. Road, Ernakulam, Cochin -
682011, Kerala, India |
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|
|
|
Banking
Relations : |
-- |
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|
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Auditors : |
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|
Name : |
G.D. Apte and Company Chartered Accountants |
|
Address : |
Dream Residency, 1202/17 E, Shivajinagar, Off Apte Road, Pune-411004,
Maharashtra, India |
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PAN No: |
AAHFG5198A |
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|
|
|
Holding Company : |
Kirloskar Brothers Limited [L29113PN1920PLC000670] |
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|
|
|
Fellow Subsidiaries : |
Kirloskar
Systech Limited [U29220PN2010PLC137071] |
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|
|
|
Other Related Parties : |
Kirloskar
Proprietary Limited [U31102MH1965PLC013362] |
CAPITAL STRUCTURE
AFTER 11.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18000000 |
Equity Shares |
Rs.10/- each |
Rs.180.000 Millions |
|
25000000 |
Preferences Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
TOTAL
|
|
Rs.430.000
Millions |
Issued, Subscribed & Paid-up Capital : Rs.139.525 Millions
|
No. of Shares |
Type |
Value |
Amount |
|
13952450 |
Equity Shares |
Rs.10/- each
|
Rs.139.525
Millions |
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 |
139.525 |
411.500 |
411.500 |
|
(b) Reserves & Surplus |
516.578 |
(310.513) |
(180.423) |
|
(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) |
656.103 |
100.987 |
231.077 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
30.443 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.280 |
0.000 |
4.359 |
|
Total Non-current Liabilities (3) |
4.280 |
0.000 |
34.802 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
50.000 |
0.000 |
0.000 |
|
(b) Trade payables |
576.925 |
306.924 |
271.392 |
|
(c) Other current
liabilities |
143.912 |
160.863 |
247.175 |
|
(d) Short-term provisions |
4.014 |
5.969 |
2.877 |
|
Total Current Liabilities (4) |
774.851 |
473.756 |
521.444 |
|
|
|
|
|
|
TOTAL |
1435.234 |
574.743 |
787.323 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
236.839 |
174.147 |
279.027 |
|
(ii) Intangible Assets |
1.624 |
0.000 |
0.025 |
|
(iii) Capital
work-in-progress |
21.241 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.349 |
0.005 |
0.005 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
21.884 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
136.621 |
156.281 |
136.556 |
|
Total Non-Current Assets |
418.558 |
330.433 |
415.613 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
222.748 |
9.078 |
72.677 |
|
(c) Trade receivables |
458.662 |
52.942 |
68.446 |
|
(d) Cash and cash
equivalents |
111.386 |
14.785 |
13.644 |
|
(e) Short-term loans
and advances |
127.694 |
107.602 |
174.565 |
|
(f) Other current
assets |
96.186 |
59.903 |
42.378 |
|
Total Current Assets |
1016.676 |
244.310 |
371.710 |
|
|
|
|
|
|
TOTAL |
1435.234 |
574.743 |
787.323 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1997.995 |
117.355 |
562.744 |
|
|
|
Other Income |
25.761 |
35.275 |
42.377 |
|
|
|
TOTAL (A) |
2023.756 |
152.630 |
605.121 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1671.770 |
146.902 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(15.090) |
0.000 |
0.000 |
|
|
|
Employee Benefit Expense |
81.040 |
25.880 |
14.260 |
|
|
|
Other Expenses |
273.594 |
121.450 |
708.602 |
|
|
|
Prior Period Items |
0.000 |
0.000 |
15.212 |
|
|
|
TOTAL (B) |
2011.314 |
294.232 |
738.074 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12.442 |
(141.602) |
(132.953) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.804 |
5.040 |
3.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(25.362) |
(146.642) |
(136.403) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
46.846 |
13.891 |
25.576 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
(72.208) |
(160.533) |
(161.979) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(6.445) |
(30.443) |
3.832 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER
TAX (G-H) (I) |
(65.763) |
(130.090) |
(165.811) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
54.696 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(4.71) |
(8.06) |
(10.27) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(3.25) |
(85.23) |
(27.40) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.61) |
(136.79) |
(28.78) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.11) |
(27.93) |
(20.57) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.11) |
(1.59) |
(0.701) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.08 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
0.52 |
0.71 |
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 |
411.500 |
411.500 |
139.525 |
|
Reserves & Surplus |
(180.423) |
(310.513) |
516.578 |
|
Net
worth |
231.077 |
100.987 |
656.103 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
50.000 |
|
Total
borrowings |
0.000 |
0.000 |
50.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.076 |
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) |
|
Revenue from operations |
562.744 |
117.355 |
1997.995 |
|
|
|
(79.146) |
1,602.522 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
562.744 |
117.355 |
1997.995 |
|
Profit/(Loss) After Tax |
(165.811) |
(130.090) |
(65.763) |
|
|
(29.46%) |
(110.85%) |
(3.29%) |
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 |
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] |
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 |
No |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10029400 |
10/12/2008 * |
2,040,000,000.00 |
INDIAN OVERSEAS
BANK |
COMMERCIAL &
INSTITUTIONAL CREDIT BRANCH, 98-A, D |
A55539225 |
|
2 |
90287683 |
21/11/2005 * |
640,000,000.00 |
INDIAN OVERSEAS
BANK |
DMS CAMPUS,
TEYNAMPET, CHENNAI, TAMIL NADU - 600006, INDIA |
- |
|
3 |
90290275 |
10/03/2005 * |
640,000,000.00 |
INDIAN OVERSEAS
BANK |
DMS CAMPUS,
TEYNAMPET, CHENNAI, TAMIL NADU - 6000 |
- |
|
4 |
90023924 |
27/08/1997 |
2,790,000.00 |
NATIONAL
HYDROELECTRIC POWER CORP. LTD. |
TANAKPUR PROJECT,
GEYLPOSING ; MONGAR, E. BHUTAN, |
- |
|
5 |
90023918 |
05/07/1997 |
2,555,000.00 |
NATIONAL
HYDROELECTRIC POWER CORP. LTD. |
KURICHU HE
PROJECT, GEYLPOSING ; MONGAR, E. BHUTAN, KERALA, INDIA |
- |
|
6 |
90023701 |
06/02/1990 * |
700,000.00 |
NATIONAL
HYDROELECTRIC POWER CORP. LTD. |
TANAKPUR
PROJECT, TANAKPUR, UTTAR PRADESH, INDIA |
- |
|
7 |
90023687 |
15/05/1989 |
1,912,500.00 |
KIRLOSKAR
INVESTMENTS & FINANCE LTD. |
II-FLOOR ; UNITY
BUILDING ; J.C. ROAD, BANGALORE, |
- |
|
8 |
90023677 |
08/03/1989 |
3,660,000.00 |
KIRLOSKAR
INVESTMENT & FINANCE LTD. |
II-FLOOR 'C'
BLOCK ; UNITY BUILDING, J;C; ROAD, B |
- |
|
9 |
90023635 |
20/04/1987 |
172,181.00 |
RASHTRIYA ISPAT
NIGAM LTD. |
GAJUWAKE,
VISAKHAPATNAM, ANDHRA PRADESH - 530026, |
- |
|
10 |
90023632 |
20/03/1987 |
455,935.00 |
RASHTRIYA ISPAT
NIGAM LTD. |
GAJUWAKE,
VISAKHAPATNAM, ANDHRA PRADESH - 530026, |
- |
* Date of charge modification
Note :
The registered office of the company has been
shifted from Raj Paris, Trimeni Towers, 2nd Floor, 147, G.N. Chetty Road,
T Nagar, Chennai-600017, Tamilnadu, India to the present address w.e.f.
18.10.2013.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loans from Bank |
50.000 |
0.000 |
|
|
|
|
|
Total |
50.000 |
0.000 |
OPERATIONS:
During the year,
the total revenue from operations of the Company is Rs. 1990.000 Millions.
The performance of
the Projects Division was affected mainly due to non-booking of new orders as a
policy decision taken by the management to concentrate on old and existing
projects and complete them systematically in all respect. Further, adverse
liquidity position and lack of skilled manpower has also affected the
performance of this division.
The Products
Division of the Company has achieved a turnover of Rs. 1920.000 Millions which
is lower by about 11% compared to the previous year. There have been various
external reasons for this negative growth.
Due to overall
economic slowdown, two of the verticals of Products Division viz. Motor
Division and Stamping Division got adversely affected. However, Component
Division has been benefited by the additional business of Pump assemblies from
Kirloskar Brothers Limited, Kirloskarvadi. Loss on foreign currency outflow due
to Rupee depreciation has also affected adversely.
During the current
year, they may expect an improvement in the economic situation. This division
would focus on the top line growth by obtaining certifications/approvals for
existing products, indigenization, improvement in sales mix and introduction of
new products. Major thrust would also be on increase in stake of existing
customers and find out new customers.
FIXED ASSETS
· Buildings
· Plant and Machinery
· Vehicles
· Furniture and Fixtures
· Office Equipment
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 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.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
---- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
32 |
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.