MIRA INFORM REPORT
|
Report Date : |
23.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
AMPHENOL INTERCONNECT INDIA PRIVATE LIMITED |
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Registered
Office : |
Plot No.105, Post Box No.1, Bhosari Industrial Area, Bhosari, Pune –
411026, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
20.02.1970 |
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Com. Reg. No.: |
11-014544 |
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Capital
Investment / Paid-up Capital : |
Rs. 7.040 Millions |
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CIN No.: [Company Identification
No.] |
U32109MH1970PTC014544 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA06007B |
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PAN No.: [Permanent Account No.] |
AACCA3419J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of Standard
and Customised Specialised Connectors used especially in the Telecom in the
Defence Industries. |
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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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 record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and decent profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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.
EXTERNAL AGENCY RATING
Not Available
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 PARTED BY
|
Name : |
Mr. Sandesh Karve |
|
Designation : |
Finance Manger |
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Contact No.: |
91-20-67360422 |
|
Date : |
15.12.2014 |
LOCATIONS
|
Registered
Office/Factory/Marketing Head Quarters : |
Plot No.105, Post Box No.1, Bhosari Industrial Area, Bhosari, Pune –
411026, |
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Tel. No.: |
91-20-30688374 |
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Fax No.: |
91-20-27129158 |
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E-Mail : |
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Website : |
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Regional Office : |
Located at:
Secundrabad
Pune
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Factory 2 : |
Plot no 61, |
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Tel. No.: |
91-80-30283900, 28520178 (Shrikant Gramopadhye (Operations
Manager)) |
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Fax No.: |
91-80-28520418 |
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E-Mail : |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Marco Philippus Ardeshir Wadia |
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Designation : |
Alternate Director |
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Address : |
Thakur House, 173, |
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Date of Birth/Age : |
30.01.1956 |
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Date of Appointment : |
18.05.2013 |
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DIN No.: |
00244357 |
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Name : |
Mr. Robert David John |
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Designation : |
Whole Time Director |
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Address : |
B-309/409, |
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Experience : |
07.08.1958 |
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Date of Appointment : |
09.06.2001 |
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DIN No.: |
01820635 |
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Name : |
Mr. Richard Adam Norwitt |
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Designation : |
Additional Director |
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Address : |
34, |
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Date of Birth/Age : |
17.06.1969 |
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Date of Appointment : |
28.09.2010 |
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DIN No.: |
02107531 |
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Name : |
Mr. Luc Walter |
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Designation : |
Director |
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Address : |
19, Ruc Jacques Hillairet, |
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Experience : |
29.05.1958 |
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Date of Appointment : |
20.06.2005 |
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DIN No.: |
02936682 |
KEY EXECUTIVES
|
Name : |
Mr. Sandesh Karve |
|
Designation : |
Finance Manger |
MAJOR SHAREHOLDERS
As on 29.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Amphenol Corporation |
28160 |
40.00 |
|
LPL Technologies Holding |
42240 |
60.00 |
|
Total |
70400 |
100.00 |
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Standard
and Customised Specialised Connectors used especially in the Telecom in the
Defence Industries. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Connectors |
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Countries : |
US Asian Country Srilanka |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
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Address : |
706, 'B' Wing, 7th Floor, ICC Trade Tower, International Convention Centre, Senapati Bapat Road, Pune – 411016,Maharashtra, India |
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PAN No.: |
AACFD4815A |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Holding Company : |
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Ultimate Holding Company : |
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Common Control Entities
(List of Companies with whom there were transactions during the year): |
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CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000 |
Equity Shares |
Rs.100/- each |
Rs.7.500 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
70400 |
Equity Shares |
Rs.100/- each |
Rs. 7.040 Millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
7.040 |
7.040 |
7.040 |
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(b) Reserves &
Surplus |
2153.968 |
1862.321 |
1646.264 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
2161.008 |
1869.361 |
1653.304 |
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(3) Non-Current
Liabilities |
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|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax
liabilities (Net) |
16.285 |
17.813 |
20.656 |
|
(c) Other long term
liabilities |
271.717 |
340.614 |
261.688 |
|
(d) long-term provisions |
35.559 |
27.728 |
20.670 |
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Total Non-current
Liabilities (3) |
323.561 |
386.155 |
303.014 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Trade payables |
378.622 |
391.501 |
331.463 |
|
(c) Other current
liabilities |
129.888 |
100.931 |
149.726 |
|
(d) Short-term provisions |
265.517 |
243.467 |
232.564 |
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Total Current Liabilities
(4) |
774.027 |
735.899 |
713.753 |
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TOTAL |
3258.596 |
2991.415 |
2670.071 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
704.912 |
692.918 |
593.432 |
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(ii) Intangible Assets |
3.807 |
4.181 |
3.535 |
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(iii) Capital
work-in-progress |
10.723 |
13.798 |
84.358 |
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(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.003 |
0.003 |
0.003 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
87.134 |
97.036 |
106.947 |
|
(e) Other Non-current
assets |
91.260 |
83.967 |
71.324 |
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Total Non-Current Assets |
897.839 |
891.903 |
859.599 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
804.191 |
725.803 |
636.458 |
|
(c) Trade receivables |
857.057 |
624.502 |
608.313 |
|
(d) Cash and cash
equivalents |
410.005 |
520.937 |
368.280 |
|
(e) Short-term loans and
advances |
287.642 |
226.744 |
193.980 |
|
(f) Other current assets |
1.862 |
1.526 |
3.441 |
|
Total Current Assets |
2360.757 |
2099.512 |
1810.472 |
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|
|
|
|
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TOTAL |
3258.596 |
2991.415 |
2670.071 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
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Income |
3357.590 |
2739.940 |
2632.190 |
|
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Other Income |
NA |
NA |
NA |
|
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
NA |
NA |
NA |
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PROFIT/ (LOSS) BEFORE TAX |
NA |
NA |
NA |
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TAX |
NA |
NA |
NA |
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PROFIT/ (LOSS) AFTER TAX
|
555.213 |
446.67 |
464.300 |
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PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1491.454 |
1320.065 |
1131.300 |
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APPROPRIATIONS |
|
|
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|
|
Transfer to General
Reserve |
55.522 |
44.668 |
46.430 |
|
|
Dividend Proposed to Equity share Holder @ Rs. 3200/- per share |
225.280 |
197.120 |
197.120 |
|
|
Tax on Proposed Dividend |
38.286 |
33.501 |
31.978 |
|
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Total (M) |
319.088 |
275.289 |
275.528 |
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Balance Carried to the
B/S (J+K+L-M) |
1727.579 |
1491.454 |
1320.072 |
|
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EARNINGS IN FOREIGN
CURRENCY |
2282.990 |
1895.270 |
1570.350 |
|
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|
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|
|
Earnings / (Loss) Per
Share (Rs.) |
7886.51 |
6344.74 |
6595.17 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2015 |
31.03.2012 |
|
|
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|
Net Profit Margin (PAT / Sales) |
(%) |
16.54 |
16.30 |
17.64 |
|
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|
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|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.05 |
2.85 |
2.54 |
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 |
7.040 |
7.040 |
7.040 |
|
Reserves & Surplus |
1646.264 |
1862.321 |
2153.968 |
|
Net worth |
1653.304 |
1869.361 |
2161.008 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
2632.190 |
2739.940 |
3357.590 |
|
|
|
4.094 |
22.542 |
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 |
2632.190 |
2739.940 |
3357.590 |
|
Profit |
464.300 |
446.670 |
555.210 |
|
|
17.64% |
16.30% |
16.54% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS IS NOT AVAILABLE
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
No |
VIEW INDEX OF
CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90090769 |
21/05/2012 * |
665,000,000.00 |
State Bank of Travancore |
1248-A Asmani Plaza, FC Road, Deccan Gymkhana, Pune, Maharashtra - 411004, INDIA |
B40469116 |
|
2 |
90087776 |
05/05/1993 |
160,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE, Maharashtra - 411003, INDIA |
- |
|
3 |
90087758 |
21/11/1992 |
40,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE, Maharashtra, INDIA |
- |
|
4 |
90089797 |
21/11/1992 |
40,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE, Maharashtra - 411003, INDIA |
- |
|
5 |
90089542 |
22/07/1991 * |
12,500,000.00 |
STATE BANK OF INDIA |
PIMPRI BRANCH, POST
BOG NO .1, PUNE, Maharashtra |
- |
|
6 |
90089477 |
21/06/1989 |
10,754,000.00 |
STATE BANK OF INDIA |
PIMPRI BRANCH, PUNE, Maharashtra - 411034, INDIA |
- |
|
7 |
90089455 |
25/03/1989 |
22,500,000.00 |
STATE BANK OF INDIDA |
PIMPRI BRANCH, PUNE, Maharashtra - 411034, INDIA |
- |
|
8 |
90089436 |
24/01/1989 * |
4,500,000.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPORATION O |
163 ; BACKBAY RECLAMATION, BOMBAY, Maharashtra - 400020, INDIA |
- |
|
9 |
90089434 |
22/02/1990 * |
4,500,000.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPORATION O |
163 ; BACKBAY RECLAMATION, BOMBAY, Maharashtra - 400020, INDIA |
- |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
Income Tax Demand disputed in appeal for* |
22.006 |
20.469 |
|
Sales Tax Demand disputed in appeal* |
8.398 |
0.000 |
|
Excise demand disputed in appeal |
0.340 |
0.000 |
|
Differencial sales tax liability |
0.000 |
1.200 |
FIXED ASSETS
- Land
- Buildings
- Office building
- Plant and equipment
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
- Other equipments
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. 63.18 |
|
|
1 |
Rs. 98.85 |
|
Euro |
1 |
Rs. 77.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
62 |
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.