MIRA INFORM REPORT
|
Report Date : |
09.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
STUMPP SCHUELE AND SOMAPPA SPRINGS PRIVATE LIMITED (w.e.f 06.12.2007) |
|
|
|
|
Formerly Known
As : |
ALLEVARD SPRINGS ( |
|
|
|
|
Registered
Office : |
139/2, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.08.1996 |
|
|
|
|
Com. Reg. No.: |
08-038742 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.30.100
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299KA1996PTC038742 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS28339D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALCS7347E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Stabilizer Bars and all Varieties of
Springs, all type of Automobile Components, Spare Parts and Accessories etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Stumpp Schuele and Somappa Private
Limited”. It is an established company having moderate track. There seems drastic dip in the profit of the company during 2013. Profit margin of the company also seems to be low. However, trade relations are reported as fair. Business is active.
Payment terms are reported as slow but correct. The company can be considered for business dealings with some caution.
|
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 |
CRISIL |
|
Rating |
Long Term Rating: BB+ |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
28.04.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A4+ |
|
Rating Explanation |
Have Minimal degree of safety and carry very high credit risk. |
|
Date |
28.04.2014 |
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 DECLINED BY
|
Name : |
Ms. Linda Johnson |
|
Designation : |
Assistant General Manager |
|
Contact No.: |
91-80-40707483 |
|
Date : |
08.07.2014 |
LOCATIONS
|
Registered Office : |
139/2, |
|
Tel. No.: |
91 80 25532335 (8 lines) / 40707400 / 25532858 |
|
Fax No.: |
91 80 25530622/ 25532379 |
|
E-Mail : |
ravi@ssssprings.com
(International Sales – Ravi Machani) amarbabu@ssssprings.com
(Domestic Sales – Amar Babu) |
|
Website : |
|
|
|
|
|
Sales Office : |
P O Box 275, New Hudson, MI 48165-0275, USA |
|
Tel. No.: |
+1 (248) 4123367 |
|
Fax No.: |
+1 (248) 2645000 |
|
E-Mail : |
|
|
|
|
|
Regional Offices : |
Located at : Pune : 91-20-5898956 / 656 Chennai : 91-4426810028 / 0727 Kolkata : 91-33-4222265 Tel. No. : 91 124 2210821/820 |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Ramanna Gangadhar Machani |
|
Designation : |
Director |
|
Address : |
M. G. Brothers Automobiles Private Limited, Dargamitta, |
|
Date of Birth/Age : |
18.09.1958 |
|
Date of Appointment : |
04.06.2009 |
|
DIN No.: |
00267779 |
|
|
|
|
Name : |
Mr. Ramesh Ramanna Machani |
|
Designation : |
Whole-time Director |
|
Address : |
No.456, Kothanur Cross, |
|
Date of Birth/Age : |
15.03.1946 |
|
Date of Appointment : |
12.08.1996 |
|
DIN No.: |
00319941 |
|
PAN No.: |
AAXPR8906K |
|
|
|
|
Name : |
Mr. Satish Ramesh Machani |
|
Designation : |
Managing Director |
|
Address : |
No.456, Kothanur Cross, |
|
Date of Birth/Age : |
01.10.1971 |
|
Date of Appointment : |
04.06.2009 |
|
DIN No.: |
00320532 |
|
PAN No.: |
AEOPS9018L |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Whole-time Director |
|
Address : |
No.456, Kothanur Cross, |
|
Date of Birth/Age : |
08.08.1973 |
|
Date of Appointment : |
04.06.2009 |
|
DIN No.: |
00320603 |
|
PAN No.: |
ABEPR3804I |
|
|
|
|
Name : |
|
|
Designation : |
Director |
|
Address : |
7C, Sukhi Apartments, |
|
Date of Birth/Age : |
28.05.1945 |
|
Date of Appointment : |
12.08.1996 |
|
DIN No.: |
00471801 |
|
PAN No.: |
AJXPS7902B |
|
|
|
|
Name : |
Mr. Machani Ramanna Ganganna |
|
Designation : |
Director |
|
Address : |
1/1400, HSB Colony, Yemmiganur, 518360, |
|
Date of Birth/Age : |
03.02.1944 |
|
Date of Appointment : |
04.06.2009 |
|
DIN : |
02063513 |
|
|
|
|
Name : |
Mrs. Deepa Anil Kumar |
|
Designation : |
Director |
|
Address : |
No.456, Kothanur Cross, |
|
Date of Birth/Age : |
03.03.1976 |
|
Date of Appointment : |
06.09.2010 |
|
DIN : |
02741980 |
|
PAN No.: |
ABGPS2479R |
|
|
|
|
Name : |
Mr. Sudhakar Machani |
|
Designation : |
Additional Director |
|
Address : |
No 404, 5th Cross, RBI Layout, 7th Phase, J P Nagar, Bangalore
- 560078, Karnataka, India |
|
Date of Birth/Age : |
05.08.1956 |
|
Date of Appointment : |
05.12.2012 |
|
DIN : |
02534695 |
KEY EXECUTIVES
|
Name : |
Ms. Linda Johnson |
|
Designation : |
Assistant General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Names of Shareholders |
|
No. of Shares |
|
Stumpp Schuele and Somappa Springs Private Limited, India |
|
3009990 |
|
M R Ramesh |
|
10 |
|
|
|
|
|
Total |
|
3010000 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
Bodies corporate |
|
99.90 |
|
Directors or relatives of directors |
|
0.10 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Stabilizer Bars and all Varieties of Springs,
all type of Automobile Components, Spare Parts and Accessories etc. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of Travancore Residency Road Branch, Aishwarya Castle, #10, Castle Street, Near
Brigade Towers, Ashok Nagar, Bangalore – 560025, Karnataka, India · State Bank of Hyderabad Industrial Finance Branch, Sheriff House, Industrial Finance Branch,
Sheriff House, Bangalore - 560025, Karnataka, India ·
State Bank of Industrial Finance Branch, Residency Plaza, Residency Road, Bangalore
– 560025, Karnataka, India ·
Indusind Bank Limited Du Parc Trinity, West Wing, I Floor, No.17, M G Road,
Bangalore – 560001, Karnataka, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Brahmayya and Company Chartered Accountants |
|
Address : |
|
|
PAN No.: |
AAASB9147R |
|
|
|
|
Holding
Company : |
· Stumpp Schuele and Somappa Private Limited |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· MG Metallic Springs Private Limited · MGM Springs Private Limited · Machani Infra Development Corporation Private Limited · Nippon Electronics (NEL) Private Limited · SSS Springs an D Wire · Indivillage Tech Solutions Private Limited |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
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 |
|
|
|
|
|
|
3010000 |
Equity Shares |
Rs.10/- each |
Rs.30.100
Million |
|
|
|
|
|
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 |
30.100 |
30.100 |
30.100 |
|
(b) Reserves & Surplus |
362.777 |
345.492 |
313.837 |
|
(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) |
392.877 |
375.592 |
343.937 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
165.663 |
135.741 |
86.878 |
|
(b) Deferred tax liabilities (Net) |
7.658 |
9.297 |
12.705 |
|
(c) Other long term liabilities |
2.024 |
2.124 |
17.514 |
|
(d) long-term provisions |
31.743 |
25.039 |
20.484 |
|
Total Non-current Liabilities (3) |
207.088 |
172.201 |
137.581 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
668.407 |
866.611 |
823.896 |
|
(b) Trade payables |
471.575 |
481.999 |
322.058 |
|
(c) Other current
liabilities |
153.917 |
178.195 |
130.660 |
|
(d) Short-term provisions |
8.036 |
7.332 |
22.825 |
|
Total Current Liabilities (4) |
1301.935 |
1534.137 |
1299.439 |
|
|
|
|
|
|
TOTAL |
1901.900 |
2081.930 |
1780.957 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
595.540 |
585.378 |
466.816 |
|
(ii) Intangible Assets |
1.631 |
1.112 |
1.854 |
|
(iii) Capital
work-in-progress |
29.918 |
30.593 |
12.464 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
144.429 |
290.063 |
270.706 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
771.618 |
907.146 |
751.840 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
427.128 |
460.955 |
374.145 |
|
(c) Trade receivables |
601.909 |
588.444 |
513.288 |
|
(d) Cash and cash
equivalents |
56.025 |
66.300 |
83.958 |
|
(e) Short-term loans and
advances |
45.220 |
59.085 |
57.726 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1130.282 |
1174.784 |
1029.117 |
|
|
|
|
|
|
TOTAL |
1901.900 |
2081.930 |
1780.957 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2843.844 |
2779.796 |
2491.293 |
|
|
|
Other Income |
15.626 |
8.983 |
6.462 |
|
|
|
TOTAL (A) |
2859.470 |
2788.779 |
2497.755 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials consumed |
1685.057 |
1602.970 |
1393.500 |
|
|
|
Change In inventories |
(3.015) |
(30.684) |
(22.052) |
|
|
|
Employee benefit expenses |
371.022 |
356.786 |
305.139 |
|
|
|
Other expenses |
543.275 |
552.372 |
484.842 |
|
|
|
TOTAL (B) |
2596.339 |
2481.444 |
2161.429 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
263.131 |
307.335 |
336.326 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
136.476 |
150.050 |
106.118 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
126.655 |
157.285 |
230.208 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
108.367 |
128.550 |
106.931 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
18.288 |
28.735 |
123.277 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export on FOB Basis |
48.077 |
38.002 |
26.154 |
|
|
TOTAL EARNINGS |
48.077 |
38.002 |
26.154 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
CIF Value of Imports |
648.408 |
662.638 |
NA |
|
|
TOTAL IMPORTS |
648.408 |
662.638 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.64
|
1.03 |
4.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.98
|
1.40 |
6.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.08 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.12
|
2.67 |
2.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87
|
0.77 |
0.79 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
30.100 |
30.100 |
30.100 |
|
Reserves & Surplus |
313.837 |
345.492 |
362.777 |
|
Net worth |
343.937 |
375.592 |
392.877 |
|
|
|
|
|
|
long-term borrowings |
86.878 |
135.741 |
165.663 |
|
Short term borrowings |
823.896 |
866.611 |
668.407 |
|
Total borrowings |
910.774 |
1002.352 |
834.070 |
|
Debt/Equity ratio |
2.648 |
2.669 |
2.123 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
2,491.293 |
2,779.796 |
2,843.844 |
|
|
|
11.580 |
2.304 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operation |
2,491.293 |
2,779.796 |
2,843.844 |
|
Profit Before Tax |
123.277 |
28.735 |
18.288 |
|
|
4.95% |
1.03% |
0.64% |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
PERFORMANCE AND
FUTURE OUTLOOK:
During the year the Company recorded a turnover of Rs.2859.469 Millions as against Rs.2788.779 Millions in 2011-2012. Profit for the years is Rs.18.288 Millions.
COMPANY OVERVIEW
Subject is
(originally incorporated on 12-08-1996 as Allevard Springs(India) Private
Limited) to carry on the business of manufacturers and supply of Stabilizer
bars and all varieties of Springs, all type of automobile components, spare
parts and accessories etc.
During the Financial
Year 2009-10 the Company entered into a Business Transfer Agreement with
Stumpp, Schuele and Somappa Private Limited, the parent company, to purchase
its Springs Division with effect from 1st Aug 2009.
The Company has
commenced the generation of windmill energy, 600 KW on 22nd September 2010 and
1.2 MW on 30th September, 2011. The objective of this project is to generate
the power for captive consumption.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10319786 |
08/11/2011 |
80,000,000.00 |
STATE BNAK OF
HYDERABAD |
INDUSTRIAL
FINANCE BRANCH, SHERIFF HOUSE,, INDUST |
B26095133 |
|
2 |
10314219 |
31/12/2010 |
200,000,000.00 |
STATE BANK OF
TRAVANCORE |
RESIDENCY ROAD
BRANCH, AISHWARYA CASTLE, # 10,, C |
B14239719 |
|
3 |
10246298 |
24/03/2011 * |
340,000,000.00 |
STATE BANK OF
HYDERABAD |
INDUSTRIAL
FINANCE BRANCH, "SHERIFF HOUSE", 1ST FLOOR, 85, RICHMOND ROAD, BANGALORE,
KARNATAKA - 560025, INDIA |
B11880358 |
|
4 |
10233602 |
20/06/2011 * |
875,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, RESIDENCY PLAZA, RESID |
B17256165 |
|
5 |
10208143 |
26/02/2010 |
190,000,000.00 |
INDUSIND BANK
LIMITED |
DU PARC TRINITY,
WEST WING, I FLOOR, NO. 17, M G ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
A81584559 |
* Date of charge modification
FIXED ASSETS:
· Plant and Machinery
· Computers
· Electrical Installations
· Furniture and Fixture
· Vehicles
·
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 records 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.59.95 |
|
|
1 |
Rs.102.78 |
|
Euro |
1 |
Rs.81.39 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
34 |
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.