MIRA INFORM REPORT
|
Report Date : |
30.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUNBEAM AUTO PRIVATE LIMITED (w.e.f. 19.05.2010) |
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|
|
Formerly Known
As : |
SUNBEAM AUTO LIMITED (w.e.f. 12.09.1996) SUNBEAM CASTINGS LIMITED |
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Registered
Office : |
38/6 K. M. Stone Delhi Jaipur Highway, Narshingh Pur, P. O. Box No.7,
District Gurgaon -122 001, Haryana |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
02.05.1996 |
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Com. Reg. No.: |
05-33093 |
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Capital
Investment / Paid-up Capital : |
Rs.55.322 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27104HR1996PTC033093 |
|
|
|
|
TAN No.: [Tax Deduction
& Collection Account No.] |
RTKS04348B |
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PAN No.: [Permanent
Account No.] |
AABCS2948F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Die Cast Automotive Components for Two Wheelers. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 8900000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track. General financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual trade
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 |
CRISIL |
|
Rating |
Long term rating = AA- |
|
Rating Explanation |
High degree of safety and carry very low credit risk. |
|
Date |
November 7, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A1+ |
|
Rating Explanation |
Have very strong degree of safety and carry very lowest credit risk. |
|
Date |
November 7, 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-Cooperative
Contact No.: 91-124-4129200
LOCATIONS
|
Registered Office/Factory 1 : |
38/6 K. M. Stone Delhi Jaipur Highway, Narshingh Pur, P. O. Box No.7,
District Gurgaon -122 001, Haryana, India |
|
Tel. No.: |
91-124-4129200 / 26 / 66 |
|
Mobile : |
91-9811692118 (Mr. Vivek) |
|
Fax No.: |
91-124-4129751-52 |
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E-Mail : |
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|
Website : |
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|
Area : |
20 Acres |
|
Location : |
Owned |
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|
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|
Head Office : |
323/A, Panshel Park, New Delhi, India |
|
Location : |
Rented |
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|
|
|
Factory 2 : |
Industrial Area, Tapukara, District Alwar, Bhiwadi – 301 707,
Rajasthan, India |
|
Area : |
10 Acres |
DIRECTORS
AS ON 21.09.2013
|
Name : |
Mr. Ashok Kumar Munjal |
|
Designation : |
Managing Director |
|
Address : |
40, Ghitorni, Opposite National Building Construction Corporation
Limited, Mehrauli, Gurgaon Road, New Delhi – 110030, India |
|
Date of Birth/Age : |
14.02.1951 |
|
Qualification : |
LLB |
|
Date of Appointment : |
01.04.2013 |
|
Voter ID : |
YR12049088 |
|
PAN No.: |
ADQPM8088B |
|
DIN No.: |
00003843 |
Other Directorship
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U65921PB1981PTC004730 |
BHAGYODAY
INVESTMENTS PVT LTD |
Director |
26/11/1981 |
26/11/1981 |
20/05/2010 |
Active |
NO |
|
2 |
U74140DL1987PLC026696 |
HERO FINANCIAL
SERVICES LIMITED |
Director |
01/08/1987 |
01/08/1987 |
07/09/2009 |
Active |
NO |
|
3 |
L34101HR1985PLC020934 |
MUNJAL SHOWA
LIMITED |
Director |
02/01/1989 |
02/01/1989 |
- |
Active |
NO |
|
4 |
U74899DL1991PLC046774 |
Hero FinCorp
Limited |
Director |
20/12/1991 |
20/12/1991 |
04/03/2011 |
Active |
NO |
|
5 |
U74899DL1995PLC065253 |
HERO CORPORATE
SERVICE LIMITED |
Director |
09/02/1995 |
09/02/1995 |
20/05/2010 |
Active |
NO |
|
6 |
U35999DL1996PLC075180 |
KRISHNA ISHIZAKI
AUTO LIMITED |
Director |
04/01/1996 |
04/01/1996 |
13/11/2009 |
Active |
NO |
|
7 |
U27104HR1996PTC033093 |
SUNBEAM AUTO
Private Limited |
Managing
director |
01/04/2013 |
01/04/1999 |
- |
Active |
NO |
|
8 |
U29299DL1998PLC093496 |
HERO MOTORS
LIMITED |
Director |
28/09/2000 |
28/09/2000 |
20/05/2010 |
Active |
NO |
|
9 |
U93090DL2002PLC133214 |
EASY BILL
LIMITED |
Director |
07/09/2002 |
07/09/2002 |
20/05/2010 |
Active |
NO |
|
10 |
U74140DL2004PLC125438 |
HERO MANAGEMENT
SERVICE LIMITED. |
Director |
26/03/2004 |
26/03/2004 |
20/05/2010 |
Active |
NO |
|
11 |
U74899DL1978PLC008890 |
ORIENT CRAFT
LIMITED |
Director |
26/06/2006 |
24/05/2006 |
- |
Active |
NO |
|
12 |
U80101DL2006PTC148682 |
SKH EDUCATION
PRIVATE LIMITED. |
Director |
04/11/2006 |
04/11/2006 |
- |
Active |
NO |
|
13 |
U74899DL1973PTC006774 |
CHANDERNAGAR
CHEMICALS AND MINERALS PRIVATE LIMITED |
Director |
08/03/2014 |
07/04/2007 |
- |
Active |
NO |
|
14 |
U34300DL2008PTC177689 |
Hero Auto
Components Private Limited |
Director |
06/05/2008 |
06/05/2008 |
- |
Strike off |
NO |
|
15 |
U34100DL2010PTC204604 |
H & H
INDUSTRIES PRIVATE LIMITED |
Director |
24/06/2010 |
24/06/2010 |
- |
Active |
NO |
|
16 |
U27101HR2010PTC041516 |
SUNGLOW
INDUSTRIES PRIVATE LIMITED |
Director |
10/11/2010 |
10/11/2010 |
- |
Active |
NO |
|
17 |
U74999DL2010PTC210739 |
Maruti Insurance
Broking Private Limited |
Nominee director |
24/11/2010 |
24/11/2010 |
- |
Active |
NO |
|
|
|
|
Name : |
Ms. Neelam Munjal |
|
Designation : |
Director |
|
Address : |
40, Ghitorni, Opposite National Building Construction Corporation
Limited, Mehrauli, Gurgaon Road, New Delhi – 110030, India |
|
Date of Birth/Age : |
26.10.1954 |
|
Qualification : |
MA |
|
Date of Appointment : |
21.09.2010 |
|
Voter ID : |
YT12049096 |
|
DIN No.: |
00003850 |
Other Directorship
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U67120PB1981PTC004752 |
MUNJAL
INVESTMENTS PVT LTD |
Director |
04/12/1981 |
04/12/1981 |
21/05/2010 |
Active |
NO |
|
2 |
U34300DL2008PTC177689 |
Hero Auto
Components Private Limited |
Director |
06/05/2008 |
06/05/2008 |
- |
Strike off |
NO |
|
3 |
U27104HR1996PTC033093 |
SUNBEAM AUTO
Private Limited |
Director |
21/09/2010 |
22/05/2010 |
- |
Active |
NO |
|
4 |
U34100DL2010PTC204604 |
H & H
INDUSTRIES PRIVATE LIMITED |
Director |
24/06/2010 |
24/06/2010 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Surinder Kumar Mehta |
|
Designation : |
Director |
|
Address : |
HM 147, Punjab Housing Board Colony, Jamalpur, Ludhiana – 141010,
Punjab, India |
|
Date of Birth/Age : |
06.12.1934 |
|
Date of Appointment : |
16.03.2001 |
|
DIN No.: |
00002888 |
Other Directorship
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U27104HR1996PTC033093 |
SUNBEAM AUTO
Private Limited |
Director |
16/03/2001 |
16/03/2001 |
- |
Active |
NO |
|
2 |
U35921PB1981PLC004729 |
ROCKMAN INDUSTRIES
LIMITED |
Director |
22/03/2002 |
22/03/2002 |
- |
Active |
NO |
|
3 |
L34101HR1985PLC020934 |
MUNJAL SHOWA
LIMITED |
Director |
07/08/2009 |
23/09/2008 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Vivek Vivek |
|
Designation : |
Secretary |
|
Address : |
3235 , Phase-2, Urban Estate, Dugri Road, Ludhiana – 141013, Punjab,
India |
|
Date of Birth/Age : |
11.09.1986 |
|
Date of Appointment : |
04.06.2012 |
|
Voter ID : |
JYK3312824 |
|
PAN No.: |
ALLPB1350Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Kumar Munjal |
|
204060 |
|
Neelam Munjal |
|
55530 |
|
Neelam and Ashok Munjal |
|
36000 |
|
Ashok Kumar Munjal |
|
5236620 |
|
Total |
|
5532210 |
Equity Share Break up (Percentage of Total Equity)
AS ON 21.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
5.34 |
|
Others |
94.66 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Die Cast Automotive Components for Two Wheelers. |
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Products : |
|
||||
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|
|
GENERAL INFORMATION
|
Customers : |
·
Hero Honda ·
Maruti Suzuki India Limited ·
Munjal Showa Limited ·
Philips India Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||
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|
||||||||||||||||||
|
Bankers : |
·
Yes Bank Limited, 9th Floor, Nehru Centre, Discovery
Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India ·
DBS Bank Limited ·
Standard Chartered Bank, Credit Documentation
Unit, Narain Manzil, 23 Barakhamba Road, New Delhi - 110001, India ·
State Bank of India, Commercial Branch, 6th
Floor, Palm Court, Gurgaon - 122001, Haryana, India |
||||||||||||||||||
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|
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Facilities : |
NOTE: LONG
TERM BORROWING Buyers credits from Standard Chartered Bank are secured by way of first
charge on present and future fixed assets for securing the credit facility to
the extent of USD 8000000/- ( Equivalent to Rs. 412.240 Miilions) granted to
the company. Buyers credit from Yes Bank Limited are secured by hypothecation of
stocks, book debts and receivables both present and future of the company and
second charge on the fixed assets of the Company. Terms of repayment of
Loans: Type of loanAmount (including current maturities)Terms of repayment
Buyers' Credit from Standard Chartered Bank 205,019,096 Repayable from April
2013 to March 2014 as per the terms with Bank. The rate of Interest is
LIBOR+1.6% Buyers' Credit from Yes Bank Limited 160,634,922 Repayable from
April 2014 to March 2015 as per the terms with Bank. The rate of Interest is LIBOR+1.80%
approx. SHORT
TERM BORROWING Working capital loan is secured by
hypothecation of stocks, book debts and receivables both present and future
of the company and second charge on the fixed assets of the Company. |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. D. Bansal and Company Chartered Accountants |
|
Address : |
34A Court Road |
|
PAN No.: |
AABFB0018J |
|
|
|
|
Others : |
·
Sunbeam Approved Gratuity Trust ·
Sunbeam Approved Superannuation Trust |
|
|
|
|
Enterprises over
which key management personnel and his relatives are able to exercise
significant influence : |
·
Munjal Castings ·
Munjal Holdings ·
Munjal Showa [Limited L34101HR1985PLC020934] ·
Satyam Auto Components Limited
[U27109PB1974PLC003386] ·
Maruti Insurance Broking Private Limited |
|
|
|
|
Subsidiary : |
Sunglow Industries Private Limited [U27101HR2010PTC041516] |
CAPITAL STRUCTURE
AS ON 21.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5532210 |
Equity Shares |
Rs.10/- each |
Rs.55.322
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 |
55.322 |
55.322 |
55.322 |
|
(b) Reserves & Surplus |
2,149.724 |
1,890.389 |
1,411.876 |
|
(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) |
2,205.046 |
1,945.711 |
1,467.198 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
160.635 |
431.427 |
43.031 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
32.010 |
62.417 |
82.105 |
|
(d) long-term provisions |
14.705 |
8.663 |
6.366 |
|
Total
Non-current Liabilities (3) |
207.350 |
502.507 |
131.502 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
387.918 |
290.823 |
363.621 |
|
(b) Trade payables |
1,589.423 |
1,655.131 |
1,566.733 |
|
(c) Other current liabilities |
396.786 |
315.506 |
306.510 |
|
(d) Short-term provisions |
141.438 |
127.811 |
46.139 |
|
Total
Current Liabilities (4) |
2,515.565 |
2,389.271 |
2,283.003 |
|
|
|
|
|
|
TOTAL |
4,927.961 |
4,837.489 |
3,881.703 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1,868.020 |
1,882.390 |
1,343.188 |
|
(ii) Intangible Assets |
23.587 |
31.754 |
1.478 |
|
(iii) Capital work-in-progress |
23.766 |
156.703 |
145.908 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
11.275 |
12.140 |
12.140 |
|
(c) Deferred tax assets (net) |
74.221 |
54.666 |
65.973 |
|
(d) Long-term Loan and Advances |
40.377 |
40.182 |
62.072 |
|
(e) Other Non-current assets |
0.096 |
0.038 |
0.074 |
|
Total
Non-Current Assets |
2,041.342 |
2,177.873 |
1,630.833 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
2.312 |
|
(b) Inventories |
796.799 |
813.070 |
564.805 |
|
(c) Trade receivables |
1,639.965 |
1,572.407 |
1,434.104 |
|
(d) Cash and cash equivalents |
4.636 |
58.110 |
42.456 |
|
(e) Short-term loans and
advances |
437.078 |
209.062 |
201.546 |
|
(f) Other current assets |
8.141 |
6.967 |
5.647 |
|
Total
Current Assets |
2,886.619 |
2,659.616 |
2,250.870 |
|
|
|
|
|
|
TOTAL |
4,927.961 |
4,837.489 |
3,881.703 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Revenue from operations |
13772.600 |
13020.900 |
11021.800 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
13772.600 |
13020.900 |
11021.800 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
12715.900 |
11722.500 |
10360.300 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1056.700 |
1298.400 |
661.500 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
397.600 |
332.300 |
242.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
573.100 |
824.700 |
418.700 |
|
|
|
|
|
|
|
|
|
|
TAX |
177.900 |
278.800 |
124.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
395.200 |
545.900 |
294.600 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1590.900 |
1150.600 |
897.200 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD TAX
ADJUSTMENT |
(6.400) |
(3.200) |
(1.700) |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed dividend |
110.600 |
55.300 |
33.400 |
|
|
|
Tax on Proposed dividend |
18.800 |
9.000 |
5.400 |
|
|
|
Transfer / general to/from hedging reserve
|
(30.700) |
(38.300) |
(4.300) |
|
|
BALANCE CARRIED
TO THE B/S |
1819.500 |
1590.800 |
1150.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
71.44 |
98.68 |
53.25 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.87 |
4.19 |
2.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.16 |
6.33 |
3.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.89 |
17.87 |
11.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.42 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.24 |
0.37 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.11 |
0.99 |
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 |
55.322 |
55.322 |
55.322 |
|
Reserves & Surplus |
1,411.876 |
1,890.389 |
2,149.724 |
|
Net
worth |
1,467.198 |
1,945.711 |
2,205.046 |
|
|
|
|
|
|
long-term borrowings |
43.031 |
431.427 |
160.635 |
|
Short term borrowings |
363.621 |
290.823 |
387.918 |
|
Total
borrowings |
406.652 |
722.250 |
548.553 |
|
Debt/Equity
ratio |
0.277 |
0.371 |
0.249 |
YEAR-ON-YEAR GROWTH
s
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
11021.800 |
13020.900 |
13772.600 |
|
|
|
18.138 |
5.773 |
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 |
11021.800 |
13020.900 |
13772.600 |
|
Profit/(Loss) After Tax |
294.600 |
545.900 |
395.200 |
|
|
2.67% |
4.19% |
2.87% |
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 |
Yes |
|
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 |
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] |
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 |
Yes |
|
34] |
External
Agency Rating, if available |
Yes |
COMPANY’S
BACKGROUND
Subject was incorporated
on 2 nd May, 1996 as Sunbeam Castings Limited (subsequently changed to Sunbeam
Auto Limited). M/s. Sunbeam Castings (A unit of Highway Cycle Industries
Limited) was established in 1986 for manufacture of Aluminium Die Cast
Components in Gurgaon, Haryana. The unit was transferred to Sunbeam Auto
Limited on a going concern basis on 1 st April, 1999. The name of the Company
is changed from Sunbeam Auto Limited to Sunbeam Auto Private Limited w.e.f.19
th May 2010.
OPERATIONS:
The Company
registered Gross Sales turnover of Rs. 13772.600 Millions as against Rs.
13020.900 Millions thus registering growth of 6% over previous year. In
quantitative terms, the sales increased from 36,533 MTs to 37065 MTs which is
1.45% higher as compared to previous year.
The exports made
impressive growth in current year. The export stood at Rs. 1389.300 Millions as
against Rs. 1219.700 Millions of previous year registering growth of 12% over
previous year. The profitability also reduced. Profit before Tax stood at Rs. 573.100
Millions as against Rs. 824.700 Millions of previous year.
FUTURE PROSPECTS:
Company has been
witnessing steady growth and is looking forward for stable growth in current year.
In its newly established facility at Tapukara expects to grow and achieve
overall capacity utilization of 70 % during the Financial Year 2013-2014.
Looking forward, Company foresees a tremendous potential in generating
employment.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10502195 |
26/05/2014 |
100,000,000.00 |
DBS BANK LTD. |
CAPITAL POINT,
BABA KHARAK SINGH MARG,, CONNAUGHT |
C06208482 |
|
2 |
10441254 |
10/07/2013 |
150,000,000.00 |
State Bank Of
India |
Commercial
Branch, 6th Floor, Palm Court, Gurgaon |
B81282592 |
|
3 |
10243482 |
30/01/2013 * |
550,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
B69410215 |
|
4 |
10209846 |
25/02/2014 * |
350,000,000.00 |
Citibank N.A |
DLF Square, M Block,
Jacaranda Marg, DLF City, Ph |
B98598485 |
|
5 |
10205864 |
22/07/2011 * |
90,000,000.00 |
IDBI BANK LTD. |
3rd Floor,
Indian Red Cross Society Building,, 1, |
B18643593 |
|
6 |
10104208 |
22/07/2011 * |
140,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
15-16, UPPER
GROUND FLOOR, 14, AMBADEEP BUILDING, |
B18673921 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Technical Know-how fees
·
Computer Software
TRADE REFERENCES
·
Hero Honda
·
Maruti
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 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.60.47 |
|
|
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
63 |
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.