MIRA
INFORM REPORT
|
Report Date : |
12.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
INDO-US MIM TEC PRIVATE LIMITED (w.e.f 21.08.2001) |
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Formerly Known
As : |
A F TECHNOLOGIES INDIA PRIVATE LIMITED |
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Registered
Office : |
Street No. 7, 3-6-539/A, Himayatnagar, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
12.04.1996 |
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Com. Reg. No.: |
01-023794 |
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Capital Investment
/ Paid-up Capital : |
Rs. 119.972 Millions |
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CIN No.: [Company Identification
No.] |
U28110AP1996PTC023794 |
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PAN No.: [Permanent Account No.] |
AABCI0484L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in designs, manufactures, and supplies metal injection molding products for automotive, medical, consumer, aerospace, oil and gas, and industrial sectors worldwide. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 7100000 |
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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. As per registrar of companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2014 but the documents related to
financial are not available from any source. As per available financial record of 2013, the rating reflects 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 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 Bank Facilities = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
December 17, 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 BY
|
Name : |
Mr. Shankar |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-40-7633638 |
|
Date : |
12.07.2014 |
LOCATIONS
|
Registered Office : |
Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Andhra
Pradesh, India |
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Tel. No.: |
91-40-7633638 |
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Fax No.: |
91-40-7640044 |
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E-Mail : |
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Website : |
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Headquarters & MIM Operations: |
No 45,(P) KIADB Industrial Area, Hoskote, Bangalore 562 114,
Karnataka, India |
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Tel. No.: |
91-80-22048800/27971418/27971416 |
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Fax No.: |
91-80-27971624 |
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E-Mail : |
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MIM & Finishing Operations: |
#45[P], KIADB Industrial Area, Doddaballapur, Bangalore 561 203,
Karnataka, India |
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Tel. No.: |
91-80-7630533/ 7630532 |
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Fax No.: |
91-80-27630532 |
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E-Mail : |
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Overseas Office : |
Located at:
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DIRECTORS
AS ON: 30.05.2014
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Name : |
Mr. Krishna Chivukula |
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Designation : |
Director |
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Address : |
35, 1st Block, RMV, 2nd Stage, Bangalore –
560091, Karnataka, India |
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Date of Birth/Age : |
27.01.1947 |
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Date of Appointment : |
12.04.1996 |
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DIN No.: |
01625119 |
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Other Directorship :
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Name : |
Ms. Chivukula Lalithadevi |
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Designation : |
Director |
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Address : |
213-539 A, No.7, Lane – 2, Himayatnagar, Hyderabad – 500029, Andhra
Pradesh, India |
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Date of Birth/Age : |
01.07.1924 |
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Date of Appointment : |
12.04.1996 |
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DIN No.: |
02368453 |
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Other Directorship :
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Name : |
Mr. Krishna Chivukula Jr |
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Designation : |
Director |
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Address : |
1 Derby LN SE, Washinton DC USA 20032222 |
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Date of Birth/Age : |
31.03.1972 |
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Date of Appointment : |
30.09.2004 |
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DIN No.: |
02483835 |
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Other Directorship :
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Name : |
Mr. Raj Roger Chivukula |
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Designation : |
Director |
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Address : |
381, Lodgewood Lane, Lafayette Co, USA - 80026 |
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Date of Birth/Age : |
01.07.1974 |
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Date of Appointment : |
30.09.2004 |
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DIN No.: |
02484081 |
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Name : |
Mr. Chandrasekhar Jagadamba |
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Designation : |
Director |
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Address : |
8026, Summerview, J fayet Ville, New York, USA - 13066 |
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Date of Birth/Age : |
12.09.1949 |
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Date of Appointment : |
30.09.2004 |
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DIN No.: |
1711450 |
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Other Directorship :
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Name : |
Mr. Parasuraman Balasubramanina |
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Designation : |
Director |
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Address : |
3DC 217, HRBR 3rd Block Kalyan Nagar, Bangalore – 560043, Karnataka,
India |
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Date of Birth/Age : |
14.05.1963 |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
02829480 |
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Other
Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Shankar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.05.2014
|
Names of
Shareholders |
No. of Shares |
|
Krishna Chivukula |
280,906 |
|
Lalitha Sastry Chivukula |
100 |
|
Green Meadows Investments Limited, Mauritius |
10,893,656 |
|
Anuradha Koduri, USA |
136,475 |
|
Ajeet Khare |
60,000 |
|
P. Balasubramanian |
60,000 |
|
Jagadish Holla |
50,000 |
|
M. Vijaya Kumar |
50,000 |
|
T.S. Shivashankar |
50,000 |
|
D. Raja Reddy |
10,000 |
|
S. Srinivasulu |
32,000 |
|
R. Sai Krishna Rayalu |
32,000 |
|
Ravi Bapatla |
32,000 |
|
G. Umamahesh Varma |
32,000 |
|
M. Giriyappa |
30,000 |
|
N.V. Ramana Reddy |
15,000 |
|
G.B. Parameshwarappa |
15,000 |
|
A. Venkata Ramu |
10,500 |
|
N.M. Gopi |
5,000 |
|
G. Natarajan |
3,500 |
|
Gopalakrishna V. Jahaqirda |
1,500 |
|
Shankar |
5,000 |
|
Vinitha Sidharthan |
890 |
|
Renny Pereira |
550 |
|
H.C. Parashurama |
780 |
|
N. Bhaskar Reddy |
250 |
|
S. Abdul Rahim |
380 |
|
K. Ramprasad |
380 |
|
R. Premanand |
1,080 |
|
K. Krishna Rao |
40,000 |
|
T. K. Chattopadyay |
50,000 |
|
Suresh |
5,000 |
|
M. S. Krishna |
2,000 |
|
Manoj Kabre |
20000 |
|
B. Ravi Kumar |
2,000 |
|
Phanindra Babu |
5,000 |
|
N. Sreekanth |
500 |
|
J. Sreenivasulu |
500 |
|
Balaii Singh |
500 |
|
K. Manjunath |
500 |
|
Vaiiinath |
500 |
|
J. V. Ratnakara Rao |
500 |
|
S. Srinivas |
500 |
|
Lakshminarayana S |
560 |
|
Chidananda KM |
220 |
|
Saravanan M |
130 |
|
Ramana Gowda |
220 |
|
Kotresh N |
100 |
|
Raghavendra S |
250 |
|
Soma Krishna Anand HR |
330 |
|
Bindumadhav H |
380 |
|
Venkatesh S |
390 |
|
Ravi Kumar B |
350 |
|
Ashok Kumar |
350 |
|
Jamal Kumar G |
330 |
|
Malgave Sachin Shrikant |
250 |
|
Atish TG |
280 |
|
Venugopal N |
190 |
|
Srihari Prasad R |
180 |
|
Chandiran M |
310 |
|
Seenappa A |
230 |
|
Hilson Samuel |
530 |
|
Raghunand MA |
230 |
|
Pradip Panalal Shah |
10,000 |
|
Gaurav Swarup |
10,000 |
|
John Anthony Dexheimer |
35,000 |
|
Total |
11,997,257 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 30.05.2014
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
91.00 |
|
Directors or relatives of directors |
|
4.00 |
|
Other top fifty shareholders |
|
5.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in designs, manufactures, and supplies metal injection molding products for automotive, medical, consumer, aerospace, oil and gas, and industrial sectors worldwide. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
·
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg,
Lower Parel (West), Mumbai - 400013, Maharashtra, India ·
IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe
Parade, Mumbai - 400005, Maharashtra, India ·
Bank of Baroda |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
P Murali and Company Chartered Accountants |
|
Address : |
361, 13th
Main, RMV Extension, Bangalore - 560 080, Karnataka, India |
|
Tel. No.: |
91-80-23613743 |
|
Fax No.: |
9180-2366209 |
|
PAN No.: |
AADFP2033K |
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Fellow
Subsidiary company: |
CIN No.: U45201AP1998PTC030483 |
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Associate : |
CIN No.: U24230AP1994PTC018752 |
CAPITAL STRUCTURE
AS ON: 30.05.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,997,257 |
Equity Shares |
Rs.10/- each |
Rs. 119.972
Millions |
|
|
|
|
|
AS ON: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11997257 |
Equity Shares |
Rs.10/- each |
Rs. 119.972
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 |
119.972 |
119.972 |
119.972 |
|
(b) Reserves & Surplus |
1633.841 |
1050.852 |
871.388 |
|
(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) |
1753.813 |
1170.824 |
991.360 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1113.897 |
1094.561 |
630.455 |
|
(b) Deferred tax liabilities (Net) |
154.048 |
126.506 |
92.348 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
13.252 |
10.885 |
6.840 |
|
Total Non-current Liabilities (3) |
1281.197 |
1231.952 |
729.643 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
342.455 |
423.138 |
286.797 |
|
(b) Trade payables |
288.123 |
278.446 |
364.399 |
|
(c) Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
501.874 |
257.909 |
286.864 |
|
Total Current Liabilities (4) |
1132.452 |
959.493 |
938.060 |
|
|
|
|
|
|
TOTAL |
4167.462 |
3362.269 |
2659.063 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1987.131 |
1790.378 |
1291.451 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
200.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
583.193 |
670.938 |
475.823 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
140.000 |
|
Total Non-Current Assets |
2770.324 |
2461.316 |
1907.274 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
467.879 |
254.149 |
153.771 |
|
(c) Trade receivables |
596.591 |
433.467 |
466.445 |
|
(d) Cash and cash equivalents |
65.768 |
118.337 |
131.573 |
|
(e) Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
266.900 |
95.000 |
0.000 |
|
Total Current Assets |
1397.138 |
900.953 |
751.789 |
|
|
|
|
|
|
TOTAL |
4167.462 |
3362.269 |
2659.063 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Revenue |
3784.689 |
3032.126 |
2448.754 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1446.057 |
788.063 |
808.943 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
199.803 |
187.998 |
88.842 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1246.254 |
600.065 |
720.101 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
197.545 |
172.471 |
123.974 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1048.709 |
427.594 |
596.127 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
354.172 |
136.582 |
206.476 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
694.537 |
291.012 |
389.651 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
903.643 |
753.235 |
475.839 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
111.548 |
111.549 |
55.774 |
|
|
|
Dividend |
69.454 |
29.064 |
110.660 |
|
|
|
Disposable Surplus |
1528.717 |
1015.183 |
809.009 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
57.89 |
24.23 |
32.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.43 |
12.71 |
22.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.60 |
0.37 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.84 |
1.30 |
0.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
0.93 |
0.80 |
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 |
119.972 |
119.972 |
119.972 |
|
Reserves & Surplus |
871.388 |
1,050.852 |
1,633.841 |
|
Net
worth |
991.360 |
1,170.824 |
1,753.813 |
|
|
|
|
|
|
long-term borrowings |
630.455 |
1,094.561 |
1,113.897 |
|
Short term borrowings |
286.797 |
423.138 |
342.455 |
|
Total
borrowings |
917.252 |
1,517.699 |
1,456.352 |
|
Debt/Equity
ratio |
0.925 |
1.296 |
0.830 |
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.) |
|
Gross Revenue |
2,448.754 |
3,032.126 |
3,784.689 |
|
|
|
23.823 |
24.820 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Gross Revenue |
2,448.754 |
3,032.126 |
3,784.689 |
|
Profit/(Loss) After Tax |
389.651 |
291.012 |
694.537 |
|
|
15.91% |
9.60% |
18.35% |
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 |
No |
|
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 |
OPERATIONS AND OUTLOOK
The fears of
global recession and slow down did not affect the company. During Fy 13 the
company performed much better than Fy 12 and achieved higher level of sales as
well as profitability. Their sales during this period went up by 26% and the
PBT went up by 147%.The increase in profitability is mainly due to the
economies achieved by the company on Raw materials, consumables and outsourcing
costs and also due to less than proportionate increase in the sales exp. The
fact that the company achieved excellent capacity utilization levels towards
the end of Fy 14 also helped in the improving the profitability substantially.
The growth momentum is continuing during Fy 14 too and this necessitates
expansion of capacity during early part of Fy 14 much earlier than our initial
expectation. We expect to maintain the growth momentum both the top line as
well as the bottom line front during Fy 14 too.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10463716 |
24/03/2014 * |
450,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C03938529 |
|
2 |
10455549 |
24/03/2014 * |
600,000,000.00 |
AXIS BANK
LIMITED |
AXIS BANK
LIMITED, SECOND FLOOR, NO 1, QUEENS ROAD, BANGALORE - 560001, KARNATAKA,
INDIA |
C02566297 |
|
3 |
10455303 |
24/03/2014 * |
500,000,000.00 |
ING VYSYA BANK
LIMITED |
ING VYSYA BANK
LIMITED, MG ROAD, BANGALORE - 560001, KARNATAKA, INDIA |
C02567915 |
|
4 |
10385693 |
21/11/2012 * |
180,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER WTC COMPLEX,
CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
B64277841 |
|
5 |
10332986 |
21/11/2012 * |
220,000,000.00 |
STANDARD
CHARTERED BANK |
RAHEJA TOWERS,
26-27, M G ROAD, BANGALORE - 560001, KARNATAKA, INDIA |
B62752399 |
|
6 |
10326670 |
19/12/2011 |
200,000,000.00 |
STANDARD
CHATERED BANK |
RAHEJA TOWERS,
26-27, M G ROAD, BANGALORE - 560001, KARNATAKA, INDIA |
B29158979 |
|
7 |
10308749 |
12/09/2011 |
300,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B21884259 |
|
8 |
10315619 |
12/09/2011 |
100,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B24522039 |
|
9 |
10283626 |
30/06/2011 * |
100,000,000.00 |
IDBI BANK
LIMITED |
IDBI BANK
LIMITED, 102, SHAKTHI COMFORTS TOWER, KH ROAD, BANGALORE - 560027, KARNATAKA,
INDIA |
B17125824 |
|
10 |
10146107 |
30/06/2011 * |
100,000,000.00 |
IDBI BANK
LIMITED |
IDBI BANK
LIMITED, 102, SHAKTHI COMFORTS TOWER, KH ROAD, BANGALORE - 560027, KARNATAKA,
INDIA |
B17107012 |
* Date of charge modification
FIXED ASSETS:
- Land and
development
- Buildings
- Plant and
machinery
- Furniture and
fixtures
- Office equipment
- Vehicles
- Computers and
software
- Electrical
installation
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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.60.19 |
|
UK Pound |
1 |
Rs.103.15 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.