MIRA INFORM REPORT
|
Report Date : |
02.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ATLAS COPCO (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Sveanagar, Mumbai-Pune Road, Dapodi, Pune – 411 012, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.01.1960 |
|
|
|
|
Com. Reg. No.: |
25-020566 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.225.616
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27106PN1960PLC020566 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA00074E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA4074D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of air and gas compressors, construction and
mining equipment, and industrial tools. |
|
|
|
|
No. of Employees
: |
2382 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having a fine track
record. Financial position of the company seems to be strong. Performance capability
is high. Liquidity position is good. Trade relations are reported to be 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 terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
NEWS
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before. A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two. While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs.2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers with hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: AA+ |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
October 10, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
October 10, 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
31-03-2012.
INFORMATION DECLINED
Management non-cooperative
(Tel. No.: 91-20-39852100)
LOCATIONS
|
Registered/ Corporate/ Head Office/ Factory 1 : |
Sveanagar, Mumbai-Pune Road, Dapodi, Pune – 411 012, Maharashtra,
India |
|
Tel. No.: |
91-20-30722222/ 39852455/ 39852100/ 39852543/ 2411/ 2416/ 2260 |
|
Mobile No.: |
91-9326653917 (Mr. Anant Narayan Bavare) |
|
Fax No.: |
91-20-27147928/ 39852070/ 39852016 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
Plot No.90, MIDC, Industrial Area, Satpur, Nashik – 422 007,
Maharashtra, India |
|
|
|
|
Factory 3 : |
301/302, LBS
Marg, Mulund (West), Mumbai – 400 080, Maharashtra, India |
|
|
|
|
Factory 4 : |
146/2, Sector-I,
Lane 8, IDA, Phase – II, Cherlapally, Hyderabad – 500 051, Andhra Pradesh,
India |
DIRECTORS
AS ON 23.09.2013
|
Name : |
Mr. Anilkumar Jewraj Hirjee |
|
Designation : |
Director |
|
Address : |
Flat No.9, Battery House, Bhulabhai Desai Road, Mumbai – 400 026,
Maharashtra, India |
|
Date of Birth/Age : |
14.05.1939 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
20.12.1988 |
|
Voter ID No.: |
MT/024/231668 |
|
DIN No.: |
00044765 |
|
|
|
|
Name : |
Rolf Hans Ola Meyer |
|
Designation : |
Director |
|
Address : |
Hoglidsvagen 7, 182 47, Enebybero Sweden |
|
Date of Birth/Age : |
31.01.1955 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.04.2007 |
|
DIN No.: |
01385028 |
|
|
|
|
|
|
|
Name : |
Filip A J Vandenberghe |
|
Designation : |
Managing Director |
|
Address : |
Hendrik Consciencestraat 21, 2970, Belgium |
|
Date of Birth/Age : |
10.08.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.08.2013 |
|
DIN No.: |
02644579 |
|
|
|
|
Name : |
Birgitta Jeanette Livijn |
|
Designation : |
Director |
|
Address : |
Langangsvagen 20 B, 182 75 Stocksund, Sweden |
|
Date of Birth/Age : |
05.03.1963 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.04.2010 |
|
DIN No.: |
02760032 |
KEY EXECUTIVES
|
Name : |
Mr. Anant Narayan Bavare |
|
Designation : |
Company Secretary |
|
Address : |
S. No.22/1, Kamal City, Flat No. C-305, Near Rajas Society, Katraj,
Pune – 411 046, Maharashtra, India |
|
Date of Birth/Age : |
13.07.1974 |
|
Date of Appointment : |
04.06.2012 |
|
PAN No.: |
AIYPB9758Q |
|
|
|
|
Name : |
Mr. Pradeep C |
|
Designation : |
Treasury Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2013
Note:
Shareholding details file attached.
AS ON 23.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Nationalized or other banks |
|
0.01 |
|
Mutual funds |
|
0.01 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
96.54 |
|
Bodies
corporate |
|
0.04 |
|
Other
top fifty shareholders |
|
0.46 |
|
Others
|
|
2.94 |
|
Total |
|
100.00 |
%20LIMITED%20-%20274908_MIRA%2002-Jul-2014_files/image001.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of air and gas compressors, construction and
mining equipment, and industrial tools. |
||||
|
|
|
||||
|
Products/ Services : |
|
PRODUCTION STATUS (AS ON 31.03.2012):
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Production/
Purchases |
|
A. Manufactured |
|
|
|
|
|
Air, gas and screw compressors and dryers |
Nos. |
11,500 |
11,500 |
12,234 |
|
Pneumatic tools |
Nos. |
75,000 |
75,000 |
60,573 |
|
Rock drilling equipments |
Nos. |
16,900 |
16,900 |
27,277 |
|
Road construction equipments |
Nos. |
1,000 |
1,000 |
688 |
|
|
|
|
|
|
|
B. Trading |
|
|
|
|
|
Pneumatic tools |
Nos. |
-- |
-- |
38,275 |
Notes:
(1) The licensed capacity is as represented by the management and relied
upon by the auditors.
(2) The installed capacity has been certified by the Management and
relied upon by the auditors, this being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
2382 (Approximately) |
|||||||||||||||
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|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Holding Company : |
Atlas Copco AB, Sweden |
|
|
|
|
Common Control
(List of companies with whom there were transactions during the year) : |
|
CAPITAL STRUCTURE
AS ON 23.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
22561564 |
Equity Shares |
Rs.10/- each |
Rs.225.616
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
01.04.2012 to
31.03.2013 |
01.01.2011 to
31.03.2012 (15 Months) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
225.616 |
225.616 |
|
(b) Reserves & Surplus |
|
10153.113 |
8028.779 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
10378.729 |
8254.395 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
33.355 |
66.415 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
2.449 |
2.384 |
|
(d) Long-term
provisions |
|
666.905 |
560.183 |
|
Total Non-current
Liabilities (3) |
|
702.709 |
628.982 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
30.785 |
1273.387 |
|
(b) Trade payables |
|
3283.043 |
3278.998 |
|
(c) Other current
liabilities |
|
1361.588 |
1084.922 |
|
(d) Short-term
provisions |
|
716.878 |
503.959 |
|
Total Current
Liabilities (4) |
|
5392.294 |
6141.266 |
|
|
|
|
|
|
TOTAL |
|
16473.732 |
15024.643 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2665.937 |
2126.371 |
|
(ii) Intangible Assets |
|
230.181 |
305.355 |
|
(iii) Capital
work-in-progress |
|
192.561 |
118.529 |
|
(iv) Intangible assets under development or
work-in-progress |
|
27.791 |
0.944 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
327.539 |
214.070 |
|
(d) Long-term Loan and Advances |
|
894.653 |
865.877 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
4338.662 |
3631.146 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
748.780 |
0.000 |
|
(b) Inventories |
|
5020.640 |
5418.869 |
|
(c) Trade receivables |
|
5068.397 |
4841.490 |
|
(d) Cash and cash
equivalents |
|
405.354 |
305.462 |
|
(e) Short-term loans
and advances |
|
891.899 |
827.676 |
|
(f) Other current
assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
12135.070 |
11393.497 |
|
|
|
|
|
|
TOTAL |
|
16473.732 |
15024.643 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 (12
Months) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
225.616 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
5918.972 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
6144.588 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
116.142 |
|
|
2] Unsecured Loans |
|
|
76.981 |
|
|
TOTAL BORROWING |
|
|
193.123 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
6337.711 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1795.748 |
|
|
Capital work-in-progress |
|
|
93.167 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
176.055 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
3291.512 |
|
|
Sundry Debtors |
|
|
3820.651 |
|
|
Cash & Bank Balances |
|
|
219.256 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
1120.408 |
|
Total
Current Assets |
|
|
8451.827 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2169.792 |
|
|
Other Current Liabilities |
|
|
895.433 |
|
|
Provisions |
|
|
1113.861 |
|
Total
Current Liabilities |
|
|
4179.086 |
|
|
Net Current Assets |
|
|
4272.741 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
6337.711 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
01.04.2012 to
31.03.2013 |
01.01.2011 to
31.03.2012 (15 Months) |
31.12.2010 (12
Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
25204.311 |
26166.659 |
16879.251 |
|
|
|
Other Income |
58.490 |
70.442 |
76.606 |
|
|
|
TOTAL |
25262.801 |
26237.101 |
16955.857 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
9779.584 |
10152.056 |
|
|
|
|
Purchases of stock-in-trade |
5460.693 |
7267.311 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
286.575 |
(1203.147) |
|
|
|
|
Employee benefit expense |
2136.459 |
2104.095 |
|
|
|
|
Other expenses |
3588.474 |
3912.317 |
|
|
|
|
Exceptional Items |
16.594 |
0.000 |
|
|
|
|
TOTAL |
21268.379 |
22232.632 |
14359.085 |
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
3994.422 |
4004.469 |
2596.772 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
98.257 |
101.551 |
52.594 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3896.165 |
3902.918 |
2544.178 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
482.820 |
580.518 |
310.247 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
3413.345 |
3322.400 |
2233.931 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1157.032 |
1081.485 |
831.040 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2256.313 |
2240.915 |
1402.891 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
5354.274 |
3494.467 |
2142.799 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
250.000 |
175.000 |
|
|
|
Proposed Dividend |
NA |
112.808 |
112.808 |
|
|
|
Corporate Dividend tax |
NA |
18.300 |
17.865 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
5354.274 |
3494.467 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of exports |
5524.400 |
3114.103 |
1814.981 |
|
|
|
Commission |
|
531.258 |
336.228 |
|
|
|
Service Income |
|
626.187 |
350.027 |
|
|
|
Recovery of freight |
|
70.225 |
17.545 |
|
|
|
Recovery of warranty |
|
54.682 |
43.329 |
|
|
TOTAL EARNINGS |
5524.400 |
4396.455 |
2562.110 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
NA |
4148.372 |
2791.610 |
|
|
|
Capital Goods |
NA |
188.429 |
52.257 |
|
|
|
Goods for Resale |
NA |
4029.917 |
2450.674 |
|
|
TOTAL IMPORTS |
NA |
8366.718 |
5294.541 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
100.01 |
99.32 |
73.46 |
|
%20LIMITED%20-%20274908_MIRA%2002-Jul-2014_files/image003.gif){kind=small}
%20LIMITED%20-%20274908_MIRA%2002-Jul-2014_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
01.04.2012 to
31.03.2013 |
01.01.2011 to
31.03.2012 (15 Months) |
31.12.2010 (12
Months) |
|
PAT / Total Income |
(%) |
8.93 |
8.54
|
9.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.54 |
12.70
|
14.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.43 |
22.62
|
24.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.40
|
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.01 |
0.16
|
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.25 |
1.86
|
2.02 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
|
225.616 |
225.616 |
|
Reserves & Surplus |
|
8028.779 |
10153.113 |
|
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Net worth |
|
8254.395 |
10378.729 |
|
|
|
|
|
|
Long-term borrowings |
|
66.415 |
33.355 |
|
Short term borrowings |
|
1273.387 |
30.785 |
|
Total borrowings |
|
1339.802 |
64.140 |
|
Debt/Equity ratio |
|
0.162 |
0.006 |
%20LIMITED%20-%20274908_MIRA%2002-Jul-2014_files/image002.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2010 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
16879.251 |
26166.659 |
25204.311 |
|
|
|
55.023 |
(3.678) |
%20LIMITED%20-%20274908_MIRA%2002-Jul-2014_files/image005.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2010 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
16879.251 |
26166.659 |
25204.311 |
|
Profit |
1402.891 |
2240.915 |
2256.313 |
|
|
8.31% |
8.56% |
8.95% |
%20LIMITED%20-%20274908_MIRA%2002-Jul-2014_files/image006.gif)
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long-term debt:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.12.2010 (Rs. in millions) |
|
Current maturities of
long-term debt |
33.073 |
27.376 |
NA |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION
DETAILS:
HIGH COURT OF
BOMBAY
CASE DETAILS
Bench: Bombay
Lodging No.: WPL/2469/2013
Filing Date: 26/09/2013
Reg. No.: WP/2650/2013
Reg. Date: 30/11/2013
Petitioner: Association of Engineering Workers and ANR
Respondent: Atlas Copco
(India) Limited
Petn. Adv: N.M. Ganguli
Resp. Adv.: --
District: Mumbai
Status: Admitted (Unready)
Category: Writ
Petition (Service Matter)
Last Date: 25/04/2014
Stage: For
Admission - Fresh [Original Side Matters]
Last Coram: HON'BLE SHRI JUSTICE N.M. JAMDAR
Act: Industrial
Dispute Act, 1947
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10095906 |
20/01/2012 * |
2,180,000,000.00 |
CITIBANK N.A. |
FIRST FLOOR, ONYX
TOWERS, NEAR WESTIN HOTEL, NORTH MAIN ROAD, KOREGAON PARK, PUNE, MAHARASHTRA
- |
B32714099 |
|
2 |
90128666 |
09/02/2009 * |
51,500,000.00 |
ANDHRA BANK-
MALAKPET BRANCH |
16-10-27/105/13 TO
16 MAIN ROAD, MALAKPET, HYDERABAD, ANDHRA PRADESH - 500036, INDIA |
A57803207 |
|
3 |
90130518 |
29/09/2006 * |
10,000,000.00 |
ANDHRA BANK -
MALAKPET BRANCH |
MALAKPET MAIN
ROAD, HYDERABAD, ANDHRA PRADESH - 500036, INDIA |
A09924515 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Long-term maturities of finance lease (Lease obligations in relation to vehicles acquired
from non-banking companies under finance lease.) |
33.355 |
66.415 |
|
SHORT-TERM BORROWINGS |
|
|
|
Working capital loans from banks (Buyers Credit/Packing Credit/Working
Capital Demand Loan) |
0.000 |
1116.114 |
|
Total
|
33.355 |
1182.529 |
OPERATIONS:
The figures for
the previous period are for Fifteen (15) months and are not comparable to those
of current year.
The total revenue
for the period ended 31st March, 2013 was Rs.25286.700 millions against
Rs.25262.800 millions for the previous 15 months period ended 31st
March, 2012, showing an annualised growth of 20% over previous year. The profit
before exceptional items and taxes for the year ended 31st March,
2013 was Rs.3429.900 millions against Rs.3322.400 millions for the previous 15
months period ended 31st March, 2012, showing an annualised increase
of 29% over previous year.
The Company has
completed the construction of a state of the art manufacturing facility for
Compressors at Chakan at an investment of Rs.1150.000 millions. This facility
has commenced the production in the forth quarter of 2012.
While the global
economic activity remains subdued, RBI expects Indian economy to grow at the
rate of about 5.7% during the year 2013-14. Considering the current market
conditions, in the near term the overall demand for Company's products and
services is expected to remain at the current level. Despite such an uncertain
environment, the Company is looking forward for a reasonably stable performance
for the current year, barring unforeseen circumstances.
FIXED ASSETS:
Ø Goodwill
Ø Drawings and Designs
Ø Land (Freehold)
Ø Land (Leasehold)
Ø Factory Building
Ø Residential Premises
Ø Electrical Installments
Ø Workshops Machinery
Ø Patterns, Dies, Templates
Ø Vehicles
Ø Furniture Fittings
Ø Office Equipments
Ø Rental
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 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.60.14 |
|
|
1 |
Rs.102.83 |
|
Euro |
1 |
Rs.82.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
65 |
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.