1. Summary Information
|
Country |
India |
||
|
Company Name |
BRIGHT AUTOPLAST LIMITED |
Principal Name 1 |
Mr. Rahul Arunprasad Patel |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Amit Dineshbhai Patel |
|
Registration # |
04-051364 |
||
|
Street Address |
Abhijeet–I, 7th Floor, Mithakali Six Roads, Ellisbridge,
Ahmedabad - 380006, Gujarat, India |
||
|
Established Date |
23.07.2007 |
SIC Code |
-- |
|
Telephone# |
91-79-26407110/ 26420683 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-79-26403446 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Automotive Electrical Parts |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.550,100,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate – 100% |
Banking |
Axis
Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
7 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Ultimate Holding Company |
-- |
Sintex Industries Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
803,894,000 |
Current Liabilities |
1,229,527,000 |
|
Inventories |
288,420,000 |
Long-term Liabilities |
2,057,130,000 |
|
Fixed Assets |
2,796,598,000 |
Other Liabilities |
133,382,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
3,420,039,000 |
|
Invest& other Assets |
651,906,000 |
Retained Earnings |
570,679,000 |
|
|
|
Net Worth |
1,120,779,000 |
|
Total Assets |
4,540,818,000 |
Total Liab. & Equity |
4,540,818,000 |
|
Total Assets (Previous Year) |
4,304,097,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
3,914,203,000 |
Net Profit |
42,635,000 |
|
Sales(Previous yr) |
3,261,710,000 |
Net Profit(Prev.yr) |
13,461,000 |
MIRA INFORM REPORT
|
Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
BRIGHT AUTOPLAST LIMITED (w.e.f. 17.12.2007) |
|
|
|
|
Formerly Known
As : |
BRIGHT AUTOPLAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Abhijeet–I, 7th Floor, Mithakali Six Roads, Ellisbridge,
Ahmedabad - 380006, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.07.2007 |
|
|
|
|
Com. Reg. No.: |
04-051364 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.550.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25199GJ2007PLC051364 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMB03957C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCB1921F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and
Exporter of Automotive Electrical Parts. |
|
|
|
|
No. of Employees
: |
Not Available |
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 4483000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects company’s sound financial risk profile marked by
reputed clientele, diversified product mix and fair profitability levels of
the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
N E W S
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 wih 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 |
CARE |
|
Rating |
A- (Long term bank facilities) |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
March 18, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A2+ (Short term bank facilities) |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
March 18, 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
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. Anton Jagtop |
|
Designation : |
Finance/ Account Head |
|
Contact No.: |
91-20-71655600 |
|
Date : |
30.06.2014 |
LOCATIONS
|
Registered Office : |
Abhijeet–I, 7th Floor, Mithakali Six Roads, Ellisbridge,
Ahmedabad - 380006, Gujarat, India |
|
Tel. No.: |
91-79-26407110/ 26420683/ 26420045 |
|
Fax No.: |
91-79-26403446 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office 1 : |
501/ 502, Pressman House 70-A , Nehru Road, Vile Parle (East), Mumbai – 400099, Maharashtra, India |
|
Tel. No.: |
91-22-26124920/ 21 |
|
Fax No.: |
91-22-26124923 |
|
|
|
|
Corporate Office 2 : |
2011, Farena Corporate Park, Near Amanora Town Center, Kharadi,
Hadapsar Bypass Road, Hadapsar, Pune- 411028, Maharashtra, India |
|
|
|
|
Branch Office : |
Located at:
|
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Rahul Arunprasad Patel |
|
Designation : |
Director |
|
Address : |
112, |
|
Date of Birth/Age : |
04.10.1959 |
|
Date of Appointment : |
23.07.2007 |
|
DIN No.: |
00171198 |
|
|
|
|
Name : |
Mr. Amit Dineshbhai Patel |
|
Designation : |
Director |
|
Address : |
Vrindavan, Behind Atira and apang
Manav Mandal, Near Manali Apartment, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
29.01.1966 |
|
Date of Appointment : |
23.07.2007 |
|
DIN No.: |
00171035 |
|
|
|
|
Name : |
Mr. Vidyut Anubhai Sheth |
|
Designation : |
Director |
|
Address : |
103-Shraddha Flat, Parijat Society, Fatehpura, Paldi,
Ahmedabad-380007, |
|
Date of Birth/Age : |
10.11.1957 |
|
Date of Appointment : |
18.02.2010 |
|
DIN No.: |
00239371 |
|
|
|
|
Name : |
Mr. Pradip Kantilal Patel |
|
Designation : |
Director |
|
Address : |
1-Laxmi Nivas, Shanthinagar Society, Vadaj, Ahmedabad-380013, |
|
Date of Birth/Age : |
19.11.1946 |
|
Date of Appointment : |
18.02.2010 |
|
DIN No.: |
00245134 |
|
|
|
|
Name : |
Mr. Sunil Kumar Kanojia |
|
Designation : |
Director |
|
Address : |
B-8, royal Enclave Thaltej, Ahmedabad – 380059, Gujarat, India |
|
Date of Birth/Age : |
02.07.1959 |
|
Date of Appointment : |
02.04.2012 |
|
DIN No.: |
00490259 |
|
|
|
|
Name : |
Mr. Madhusudan Ambalal Patel |
|
Designation : |
Director |
|
Address : |
94-B, Swastik Society, Navrangpura, Ahmedabad-380009, |
|
Date of Birth/Age : |
26.06.1944 |
|
Date of Appointment : |
18.02.2010 |
|
DIN No.: |
01434206 |
|
|
|
|
Name : |
Indru Gobindram Advani |
|
Designation : |
Whole-Time Director |
|
Address : |
4, Kalpa Taru, 39, Pedder Road, Mumbai – 400026, Maharashtra, India |
|
Date of Appointment : |
01.05.2013 |
|
DIN No.: |
02036028 |
KEY EXECUTIVES
|
Name : |
Mr. Anton Jagtop |
|
Designation : |
Finance/ Account Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Sintex Industries Limited, India |
|
5009400 |
|
Dinesh B. Patel jointly with Sintex Industries Limited, India |
|
100 |
|
Arun P. Patel jointly with Sintex Industries Limited, India |
|
100 |
|
Rahul A. Patel jointly with Sintex Industries Limited,
India |
|
100 |
|
Amit D. Patel jointly with Sintex Industries Limited, India |
|
100 |
|
S. B. Dangayach jointly with Sintex Industries Limited, India |
|
100 |
|
L. M. Rathod jointly with Sintex Industries Limited, India |
|
100 |
|
|
|
|
|
Total |
|
5010000 |
|
Names of Shareholders (Preferences Shares) |
|
No. of Shares |
|
Sintex Industries Limited, India |
|
5000000 |
|
|
|
|
|
Total |
|
5000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Automotive Electrical Parts. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Syndicate Bank, Navrangpura, Ahmedabad-380009, Gujarat, India · Export-Import Bank of India, Floor 21, Centre One Building, World Trade Complex, Cuffe Parade, Mumbai-400005, Maharashtra, India ·
Axis Bank Limited, Trishul 3rd
Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad –
380006, Gujarat, India
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Heritage 3rd Floor, Near Gujarat Vidyapith, Off Ashram
Road, Gujarat, India |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Ultimate Holding
Company: |
Sintex Industries Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5100000 |
Equity Shares |
Rs.10/- each |
Rs.51.000 Millions |
|
5000000 |
Preferences Shares |
Rs.100/- each |
Rs.500.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.551.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5010000 |
Equity Shares |
Rs.10/- each |
Rs.50.100
Millions |
|
5000000 |
Preferences Shares |
Rs.100/- each |
Rs.500.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.550.100 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 |
550.100 |
550.100 |
550.100 |
|
(b) Reserves & Surplus |
570.679 |
528.044 |
514.588 |
|
(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) |
1120.779 |
1078.144 |
1064.688 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
942.328 |
1180.223 |
892.481 |
|
(b) Deferred tax liabilities
(Net) |
111.401 |
79.809 |
62.403 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
17.218 |
24.643 |
57.970 |
|
Total
Non-current Liabilities (3) |
1070.947 |
1284.675 |
1012.854 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1114.802 |
1084.706 |
981.641 |
|
(b) Trade payables |
609.119 |
505.971 |
374.799 |
|
(c) Other current liabilities |
620.408 |
350.167 |
240.416 |
|
(d) Short-term provisions |
4.763 |
0.434 |
13.617 |
|
Total
Current Liabilities (4) |
2349.092 |
1941.278 |
1610.473 |
|
|
|
|
|
|
TOTAL |
4540.818 |
4304.097 |
3688.015 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2464.276 |
2230.640 |
2324.145 |
|
(ii) Intangible Assets |
332.322 |
355.673 |
381.556 |
|
(iii) Capital work-in-progress |
651.906 |
743.951 |
157.834 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
92.810 |
123.746 |
72.471 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
3541.314 |
3454.010 |
2936.006 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
288.420 |
228.666 |
236.244 |
|
(c) Trade receivables |
545.900 |
400.513 |
334.602 |
|
(d) Cash and cash equivalents |
93.216 |
115.042 |
83.757 |
|
(e) Short-term loans and
advances |
71.968 |
105.866 |
97.406 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
999.504 |
850.087 |
752.009 |
|
|
|
|
|
|
TOTAL |
4540.818 |
4304.097 |
3688.015 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
3914.203 |
3261.710 |
2750.850 |
|
|
Other Income |
3.743 |
6.740 |
6.413 |
|
|
TOTAL
(A) |
3917.946 |
3268.450 |
2757.263 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2511.829 |
2066.030 |
1461.298 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(35.581) |
2.528 |
14.580 |
|
|
Employees benefits expense |
399.282 |
322.276 |
254.339 |
|
|
Other expenses |
634.822 |
528.124 |
592.896 |
|
|
TOTAL
(B) |
3510.352 |
2918.958 |
2323.113 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
407.594 |
349.492 |
434.150 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
127.689 |
140.025 |
127.533 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
279.905 |
209.467 |
306.617 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
186.862 |
170.810 |
169.376 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
93.043 |
38.657 |
137.241 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
50.408 |
25.196 |
80.935 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
42.635 |
13.461 |
56.306 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
82.146 |
68.690 |
12.384 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
124.781 |
82.146 |
68.690 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
4.912 |
85.855 |
|
|
Components |
|
61.974 |
49.737 |
|
|
Capital Goods |
|
170.076 |
180.638 |
|
|
TOTAL
IMPORTS |
NA |
236.962 |
316.230 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
3.52 |
1.34 |
6.25 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.09 |
0.41 |
2.04 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.38 |
1.19 |
4.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.39 |
1.09 |
3.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.04 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.84 |
2.10 |
1.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.43 |
0.44 |
0.47 |
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 |
550.100 |
550.100 |
550.100 |
|
Reserves & Surplus |
514.588 |
528.044 |
570.679 |
|
Net
worth |
1064.688 |
1078.144 |
1120.779 |
|
|
|
|
|
|
long-term borrowings |
892.481 |
1180.223 |
942.328 |
|
Short term borrowings |
981.641 |
1084.706 |
1114.802 |
|
Total
borrowings |
1874.122 |
2264.929 |
2057.130 |
|
Debt/Equity
ratio |
1.760 |
2.101 |
1.835 |
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) |
|
Sales |
2750.850 |
3261.710 |
3914.203 |
|
|
|
18.571 |
20.005 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2750.850 |
3261.710 |
3914.203 |
|
Profit |
56.306 |
13.461 |
42.635 |
|
|
2.05% |
0.41% |
1.09% |
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 |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Intercorporate borrowings |
909.672 |
849.597 |
|
|
|
|
|
Total |
909.672 |
849.597
|
REVIEW OF OPERATIONS:
The Directors are pleased to report that the Company has sustained growth in 2012-13, released in the financial statements.
- Net turnover increased to Rs. 3914.203 Millions from Rs. 3261.710 Millions, grew by 20% as compared to previous year.
- Interest Cost incurred was Rs. 127.689 Millions in the current year against Rs. 140.025 Millions in previous year.
- Profit after tax increased to Rs. 42.635 Millions in 2012-13 from Rs. 13.461 Millions in 2011-12, grew by 216.73% as compared to previous year.
BUSINESS REVIEW AND
FUTURE PROSPECTS:
The Company is focusing on light weighting of products by converting certain metal parts into plastics. This will give an edge to the company because due to new emission norms all OEMs need to reduce weight of their vehicle. Despite a down turn in automotive market, the company is expecting a modest growth in the top line.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10493860 |
27/03/2014 |
150,000,000.00 |
ING VYSYA BANK LIMITED |
22, M G ROAD,BANGALORE, BANGALORE, KARNATAKA - 560001, INDIA |
C04392890 |
|
2 |
10493855 |
27/03/2014 |
400,000,000.00 |
ING VYSYA BANK LIMITED |
22, M G ROAD,BANGALORE, BANGALORE, KARNATAKA - 560001, INDIA |
C04391900 |
|
3 |
10306837 |
14/12/2012 * |
155,000,000.00 |
INDUSIND BANK LTD. |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARA |
B68813088 |
|
4 |
10150853 |
28/09/2013 * |
1,522,700,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B88993035 |
|
5 |
10092921 |
14/12/2012 * |
70,000,000.00 |
SYNDICATE BANK |
NAVRANGPURA, AHMEDABAD, AHMEDBAD, GUJARAT - 380009, INDIA |
B68813658 |
|
6 |
10069541 |
30/12/2011 * |
500,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
FLOOR 21, CENTRE ONE BUILDING, WORLD TRADE COMPLEX. CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B32764532 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Office building
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Ships vessels
· Motor vehicles
Intangible assets
· Goodwill
· Computer software
· Know-how
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.59.97 |
|
|
1 |
Rs.102.90 |
|
Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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.