MIRA INFORM REPORT
|
Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SANSERA ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
261/C, Bommasandra Industrial Area, Hebbagodi Post, Anekal Taluk, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.12.1981 |
|
|
|
|
Com. Reg. No.: |
08-004542 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.474 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34103KA1981PTC004542 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS14664G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS2440M AAECS6759F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Auto Components such as Rocker Arms, Connecting Rods,
Gear Shifters, Crank Shafts and Aerospace Components. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. Rating reflects healthy financial risk profile marked by improvement in
company performance resulting into increase in healthy margins. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. 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 – 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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
June, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Fund Based Facilities = A1 |
|
Rating Explanation |
Vary strong degree of safety and lowest 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.
LOCATIONS
|
Registered Office/ Corporate Office / Factory 1 : |
261/C, Bommasandra Industrial Area, Hebbagodi Post, Anekal Taluk, Bangalore
– 560 099, Karnataka, India |
|
Tel. No.: |
91-80-27833056/ 27833442/ 27833642 |
|
Fax No.: |
91-80-27833642 |
|
E-Mail : |
|
|
Website : |
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|
Factory 2 : |
No.8 (1106/8), A.M. Industrial Estate, G.B. Palya, Hosur Road,
Bangalore – 560 068, Karnataka, India |
|
Tel. No.: |
91-80-25731078/ 25731088/ 25731227 |
|
Fax No.: |
91-80-25731092 |
|
|
|
|
Factory 3 : |
No.1, |
|
Tel. No.: |
91-80-27839304/ 5/ 6/ 8 |
|
Fax No.: |
91-80-27839307 |
|
|
|
|
Factory 4 : |
Plot No.22 and
23, Sector-6, IMT Manesar, Gurgaon – 122 050, Haryana, India |
|
Tel. No.: |
91-124-4367600/
03 |
|
Fax No.: |
91-124-4367604 |
|
|
|
|
Factory 5 : |
B-18, MIDC Industrial Area Chakan, Pune – 410 501, Maharashtra, India |
|
Tel. No.: |
91-2135-666228 |
|
Fax No.: |
91-2135-666222 |
|
|
|
|
Factory 6 : |
Plot No.18,
Sector-09, IIE, Pantnagar, District Udham Singh Nagar, Uttarakhand, India |
|
Tel. No.: |
91-5944-250306/
307 |
|
Fax No.: |
91-5944-250308 |
|
|
|
|
Factory 7 : |
Survey No.143/A,
Bommasaandra-Jigani Link Road, Bangalore – 560 015, Karnataka, India |
|
Tel. No.: |
91-80-27839081/
2/ 3 |
|
Fax No.: |
91-80-27839309 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Subramonia Sekhar Vasan |
|
Designation : |
Managing Director |
|
Address : |
Oriental Homes, No.51, Ranga Rao Road, Basavabagudi, Bangalore – 560 004, Karnataka, India |
|
Date of Birth/Age : |
02.03.1953 |
|
Qualification : |
B. Tech (IIT) PGDM (IIMB) |
|
Date of Appointment : |
15.12.1981 |
|
DIN No.: |
00361245 |
|
PAN No.: |
ACSPV4395H |
|
|
|
|
Name : |
Mr. Fatheraj Premraj Singhvi |
|
Designation : |
Managing Director |
|
Address : |
Shanthi, No.232, Vishranti Enclave, Doddakalasandra Village, Kanakapura Road, Bangalore – 560 062, Karnataka, India |
|
Date of Birth/Age : |
14.04.1955 |
|
Qualification : |
B.Com, FCA |
|
Date of Appointment : |
26.02.2008 |
|
DIN No.: |
00233146 |
|
PAN No.: |
AGHPS5273J |
|
|
|
|
Name : |
Mr. Unni Rajagopal Kothenath |
|
Designation : |
Director |
|
Address : |
Taravad Palanahalli, Yelahanka Post, Bangalore – 560 064, Karnataka, India |
|
Date of Birth/Age : |
17.07.1954 |
|
Qualification : |
B.A., FCA |
|
Date of Appointment : |
01.03.1991 |
|
DIN No.: |
00229915 |
|
PAN No.: |
ABGPR0823H |
|
|
|
|
Name : |
Mr. Chintan Surana |
|
Designation : |
Director |
|
Address : |
601 Vinayak Heights Co-Operative HSL, Pali Hill, Bandra West, Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
13.07.1973 |
|
Date of Appointment : |
08.07.2013 |
|
DIN No.: |
06624409 |
|
|
|
|
Name : |
Mr. Satish Chavva |
|
Designation : |
Director |
|
Address : |
80 City Harbour, 8 Selsdon Way, London E149GR |
|
Date of Birth/Age : |
20.12.1974 |
|
Date of Appointment : |
08.07.2013 |
|
DIN No.: |
03615175 |
|
|
|
|
Name : |
Mr. Raunak Gupta |
|
Designation : |
Director |
|
Address : |
C-21, Trishul Bldg., Near Holy Spirit Hospital, Mahakali Caves Road, Andheri East, Mumbai – 400 093, Maharashtra, India |
|
Date of Birth/Age : |
28.12.1978 |
|
Date of Appointment : |
08.07.2013 |
|
DIN No.: |
06624489 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders (Equity
Shares) |
|
No. of Shares |
|
CVCIGP II Client Ebene Limited, Mauritius |
|
21164 |
|
Sekhar Vasan |
|
15821 |
|
CVCIGP II Employee Ebene Limited, Mauritius |
|
11853 |
|
Devappa Devaraj |
|
4713 |
|
Fatheraj Singhvi |
|
4713 |
|
Unni Rajagopal K |
|
4713 |
|
Sekhar Vasan |
|
1155 |
|
Nissin Manufacturer Company Limited |
|
300 |
|
Karthik Das |
|
208 |
|
Anjana Iyer |
|
100 |
|
Total |
|
64740 |
|
Names of Shareholders (Preference
Shares) |
|
No. of Shares |
|
Series ‘A’ |
|
|
|
CVCIGP II Employee Ebene Limited, Mauritius |
|
107700 |
|
CVCIGP II Client Ebene Limited, Mauritius |
|
192300 |
|
|
|
|
|
Series ‘B’ |
|
|
|
CVCIGP II Employee Ebene Limited, Mauritius |
|
269250 |
|
CVCIGP II Client Ebene Limited, Mauritius |
|
480750 |
|
Total |
|
1050000 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
51.46 |
|
Directors or relatives of Directors |
48.54 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Auto Components such as Rocker Arms, Connecting Rods,
Gear Shifters, Crank Shafts and Aerospace Components. |
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|
||||||||||||||||||||||||
|
Bankers : |
· CITI Bank N.A., 506-507, Level 5, Prestige Meridian 2, No.30, M.G. Road, Bangalore – 560 001, Karnataka, India · Export-Import Bank of India, Centre One Building, Floor - 21, World Trade Centre Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India ·
State Bank of India, Specialised Commercial
Branch, Krishi Bhavan, Hudson Circle, Bangalore -560001, Karnataka, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Financial Institutions : |
· Bajaj Finance Limited, 4th Floor, Bajaj Finserv Corporate Office, Off Pune – Ahmed Nagar Road, Viman Nagar, Pune – 411 014, Maharashtra, India · Karnataka State Financial Corporation, Thimmiah Road, Bangalore – 560 052, Karnataka, India |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Maruti Info Tech
Centre, 11-12/1, Inner Ring Road Koramangala, Bangalore – 560 071, Karnataka,
India |
|
PAN No.: |
ABVPM0614N |
|
|
|
|
Subsidiary Companies : |
·
Fitwell Tools and Forgings Private Limited, India
(CIN No.: U29220KA1983PTC005690) ·
Gearock Forge Private Limited, India (CIN No.:
U28991KA1999PTC026145) ·
Streparava India Private Limited, India (CIN No.:
U29299KA2007PTC043270) |
|
|
|
|
Partnership firm in which the Company/ Director
is a Partner : |
·
Sansera Exports, India ·
Singhvi Dev and Unni |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1150000 |
Equity Shares |
Rs.100/- each |
Rs.115.000 Millions |
|
1050000 |
Preference Shares |
Rs.100/- each |
Rs.105.000 Million |
|
|
Total |
|
Rs.220.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
64740 |
Equity Shares |
Rs.100/- each |
Rs.6.474 Millions |
|
1050000 |
Preference Shares |
Rs.100/- each |
Rs.105.000 Millions |
|
|
Total |
|
Rs.111.474 Millions
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
64740 |
Equity Shares |
Rs.100/- each |
Rs.6.474 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 |
6.474 |
7.020 |
6.990 |
|
(b) Reserves & Surplus |
1723.410 |
1865.520 |
1676.200 |
|
(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) |
1729.884 |
1872.540 |
1683.190 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
777.450 |
750.710 |
339.540 |
|
(b) Deferred tax liabilities (Net) |
124.100 |
106.200 |
99.900 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
6.590 |
16.650 |
0.520 |
|
Total Non-current Liabilities (3) |
908.140 |
873.560 |
439.960 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1244.850 |
1092.700 |
1027.570 |
|
(b) Trade payables |
434.650 |
463.530 |
356.560 |
|
(c) Other current
liabilities |
451.646 |
375.690 |
280.660 |
|
(d) Short-term provisions |
0.310 |
11.470 |
15.310 |
|
Total Current Liabilities (4) |
2131.456 |
1943.390 |
1680.100 |
|
|
|
|
|
|
TOTAL |
4769.480 |
4689.490 |
3803.250 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2216.650 |
1955.860 |
1770.420 |
|
(ii) Intangible Assets |
11.330 |
8.870 |
8.080 |
|
(iii) Capital
work-in-progress |
124.820 |
213.000 |
215.320 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
229.430 |
229.430 |
160.710 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
402.350 |
355.260 |
97.860 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
2984.580 |
2762.420 |
2252.390 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.100 |
0.100 |
0.100 |
|
(b) Inventories |
738.000 |
699.540 |
547.500 |
|
(c) Trade receivables |
873.160 |
779.480 |
613.560 |
|
(d) Cash and cash
equivalents |
56.710 |
333.350 |
80.020 |
|
(e) Short-term loans and
advances |
116.540 |
111.160 |
306.180 |
|
(f) Other current assets |
0.390 |
3.440 |
3.500 |
|
Total Current Assets |
1784.900 |
1927.070 |
1550.860 |
|
|
|
|
|
|
TOTAL |
4769.480 |
4689.490 |
3803.250 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
4902.140 |
|
3707.350 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
4902.140 |
4631.300 |
3707.350 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
4616.320 |
4383.740 |
3470.100 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
4616.320 |
4383.740 |
3470.100 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX AND PRIOR PERIOD ITEMS |
285.820 |
247.560 |
237.250 |
|
|
|
|
|
|
|
|
|
Less/ Add |
PRIOR PERIOD
EXPENSES/ INCOME |
0.000 |
15.890 |
-2.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
285.820 |
231.670 |
239.270 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
78.480 |
48.820 |
3.040 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
207.340 |
182.850 |
236.230 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
952.140 |
811.050 |
622.893 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.730 |
18.280 |
23.620 |
|
|
|
Dividend |
0.000 |
20.160 |
20.970 |
|
|
|
Tax on Dividend |
0.000 |
3.320 |
3.480 |
|
|
BALANCE CARRIED
TO THE B/S |
1138.200 |
952.140 |
811.050 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3202.66 |
2613.16 |
3379.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.23 |
3.95 |
6.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.83 |
5.00 |
6.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.47 |
5.45 |
6.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.12 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.17 |
0.98 |
0.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84 |
0.99 |
0.92 |
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 |
6.990 |
7.020 |
6.474 |
|
Reserves & Surplus |
1676.200 |
1865.520 |
1723.410 |
|
Net
worth |
1683.190 |
1872.540 |
1729.884 |
|
|
|
|
|
|
long-term borrowings |
339.540 |
750.710 |
777.450 |
|
Short term borrowings |
1027.570 |
1092.700 |
1244.850 |
|
Total
borrowings |
1367.110 |
1843.410 |
2022.300 |
|
Debt/Equity
ratio |
0.812 |
0.984 |
1.169 |
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) |
|
Total Income |
3707.350 |
4631.300 |
4902.140 |
|
|
|
24.922 |
5.848 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
3707.350 |
4631.300 |
4902.140 |
|
Profit After Tax |
236.230 |
182.850 |
207.340 |
|
|
6.37% |
3.95% |
4.23% |
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] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN 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 |
BACKGROUND
The Company was
incorporated on 15th December, 1981 under the provisions of the
Companies Act, 1956 with its registered office in Bangalore, Karnataka.
The Company is
mainly involved in the business of manufacture of auto components such as
rocker arms, connecting rods, gear shifters, crank shafts and Aerospace
components.
UNSECURED LOAN
|
Particular |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
50.000 |
0.000 |
|
Loans and advances from related parties |
27.560 |
19.900 |
|
Other loans and advances |
100.000 |
0.000 |
|
Total |
177.560 |
19.900 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10476621 |
01/01/2014 |
200,000,000.00 |
BAJAJ FINANCE LIMITED |
MUMBAI - PUNE ROAD,, AKURDI, PUNE, MAHARASHTRA - 411035, INDIA |
B95957882 |
|
2 |
10345624 |
10/09/2012 * |
400,000,000.00 |
BAJAJ FINANCE LIMITED |
4TH FLOOR, BAJAJ FINSERV CORPORATE OFFICE, OFF PUNE-AHMEDNAGAR ROAD, VIMAN NAGAR,, PUNE, MAHARASHTRA - 411014, INDIA |
B58860610 |
|
3 |
10331648 |
10/09/2012 * |
120,000,000.00 |
CITI BANK N.A. |
506-507, LEVEL 5, PRESTIGE MERIDIAN 2, NO.30, M. G. ROAD,, BANGALORE, KARNATAKA - 560001, INDIA |
B58862921 |
|
4 |
90194595 |
10/09/2012 * |
270,000,000.00 |
CITI BANK N.A. |
506-507, LEVEL 5, PRESTIGE MERIDIAN 2, NO.30, M. G. ROAD,, BANGALORE, KARNATAKA - 560001, INDIA |
B58862160 |
|
5 |
80003319 |
20/04/2013 * |
2,451,300,000.00 |
STATE BANK OF INDIA |
SPECIALISED COMMERCIAL BRANCH, KRISHI BHAVAN, HUDSON CIRCLE, BANGALORE, KARNATAKA - 560001, INDIA |
B75323428 |
|
6 |
90189427 |
09/02/2005 * |
24,200,000.00 |
STATE BANK OF INDIA |
BANGALORE COMMERCIAL BRANCH, KRISHI BHAVAN. HUDSON CIRCLE, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
7 |
90191736 |
30/07/2004 * |
24,200,000.00 |
STATE BANK OF INDIA |
BANGALORE COMMERCIAL BRANCH, KRISHI BHAVAN. HUDSON CIRCLE, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
8 |
90194050 |
21/03/2005 * |
24,200,000.00 |
STATE BANK OF INDIA |
BANGALORE COMMERCIAL BRANCH, KRISHI BHAVAN. HUDSON CIRCLE, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
9 |
90191096 |
02/12/1994 * |
277,200.00 |
STATE BANK OF INDIA |
SIB DIVISION, BANGALORE CITY BRANCH; J. C. ROAD, |
- |
|
10 |
90193712 |
27/11/1995 * |
277,200.00 |
STATE BANK OF INDIA |
SIB DIVISION, BANGALORE CITY BRANCH; J. C. ROAD, |
- |
|
11 |
90190282 |
08/05/1995 * |
850,000.00 |
STATE BANK OF INDIA |
SIB DIVISION, BANGALORE CITY BRANCH; J. C. ROAD, |
- |
|
12 |
90193371 |
26/04/1993 * |
850,000.00 |
STATE BANK OF INDIA |
SIB DIVISION, BANGALORE CITY BRANCH; J. C. ROAD, |
- |
|
13 |
90194860 |
23/03/1994 * |
850,000.00 |
STATE BANK OF INDIA |
SIB DIVISION, BANGALORE CITY BRANCH; J. C. ROAD, |
- |
* Date of charge modification
FIXED ASSETS
·
Land
·
Buildings
·
Factory Building
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer
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.60.73 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.81.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
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 |
|
50 |
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.