MIRA
INFORM REPORT
|
Report Date : |
17.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ITW INDIA LIMITED (w.e.f. October 2005) |
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Formerly Known
As : |
ITW SIGNODE INDIA LIMITED (w.e.f. 30.01.1992) NAGARJUNA SIGNODE LIMITED |
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Registered
Office : |
Level 1, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
30.11.1979 |
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Com. Reg. No.: |
05-038643 |
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Capital
Investment / Paid-up Capital : |
Rs.135.505 Millions |
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CIN No.: [Company Identification
No.] |
U32301HR1979PLC038643 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RTKI01677E |
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PAN No.: [Permanent Account No.] |
AAAC14550Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Subject is engaged in the business of industrial
packaging, polymers and fluids, automotive components, insulation, testing
equipments, adhesive tapes etc. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 30330000 |
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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 and reputed company having fine track
record. Financial position of the company seems to be decent. Trade relations are reported as 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 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
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.
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
Management Non Co-Operative (91-124-3020601)
LOCATIONS
|
Registered Office : |
Level 1, |
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Tel. No.: |
91-124-3020601 |
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Fax No.: |
91-124-3020603 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No.13, Sec-2, |
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Tel. No.: |
91-5944-250221 (BSNL) 91-5944-645012 (Tata) |
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Factory 2 : |
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Tel. No.: |
91-8455-305085 |
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Fax No.: |
91-8455-220002/ 226101 |
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Factory 3 : |
Survey No.263 |
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Tel. No.: |
91-260-2699291/ 92 |
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Fax No.: |
91-260-2699293 |
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Automotive Unit : |
995/2/1, Dingrawadi, Near Kalyani Sharp Pune Nagar Road, Tal-Shirur District Pune – 412207, Maharashtra, India |
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Tools, Spares and |
No.9, KSSP Warehousing Complex, Door No. 7-2-1740,
Sanathnagar, |
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Tel No.: |
91-40-64534002 |
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Fax No.: |
91-40-23811667 |
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Sales and Service Network : |
Located at: |
DIRECTORS
As on: 25.11.2013
|
Name : |
Mr. Rohit Gupta |
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Designation : |
Whole Time Director |
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Address : |
C-1/1448, Vasant Kunj, |
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Date of Birth/Age : |
20.05.1968 |
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Qualification : |
Chartered Accountant |
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Date of Appointment : |
11.10.2010 |
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DIN No.: |
00322010 |
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Name : |
Ms. Mary Ann Spiegel |
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Designation : |
Director |
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Address : |
595 S. Rexbl VD, Elmhurst, Illinois - 60126 |
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Date of Birth/Age : |
24.05.1964 |
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Date of Appointment : |
29.09.2012 |
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DIN No.: |
05161638 |
KEY EXECUTIVES
|
Name : |
Mr. Abhishek Nagar |
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Designation : |
Secretary |
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Address : |
Flat No. 16, 169, Khirkee Village, Maiviya Nagar, New Delhi – 110017,
India |
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Date of Birth/Age : |
22.12.1978 |
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Date of Appointment : |
23.09.2013 |
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PAN No.: |
AGLPN1292J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.11.2013
|
Names of Shareholders |
|
No. of Shares |
|
Illinois Tool Works Inc., - |
|
6350 |
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Illinois Tool Works Inc., - |
|
362 |
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Illinois Tool Works Inc., - |
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29 |
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Anita Khandelwal |
|
3 |
|
Sonal D Shah |
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2 |
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R Sunitha Reddy |
|
2 |
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Rama Krupa Mulpury |
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2 |
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Nagasiromani Dandamudi |
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2 |
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Chandmal Chhajed |
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2 |
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Madhusudana Rao Dandamudi |
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2 |
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Manoj Bagadia |
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2 |
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Podile Gita Vani |
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1 |
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ITW PMI Investments Inc. – Willington |
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1 |
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Hobart Corporation – |
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1 |
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Bharat Bhushan Sahny |
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1 |
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Wilsonart International – USA |
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1 |
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Geera Finance Limited, India |
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1 |
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ITW Universal LLC – USA |
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1 |
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M Bhawarlal Jain |
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1 |
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Dandamudi Krishan Rao |
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1 |
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Swan Securities Private Limited – |
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1 |
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Kailashben Kiritbhai Shah |
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1 |
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Priyadarshi Ramprasad Shukla |
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1 |
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Krishnarao Annarao Lokapur |
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1 |
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Amita Nitesh Thakkar |
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1 |
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Priya Dhawal Thakkar |
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1 |
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Stokvis Tape Group B.V. Netherland |
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2 |
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Total |
|
6775 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.11.2013
|
Category |
|
Percentage |
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|
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
99.59 |
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Directors or relatives of directors |
|
0.02 |
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Others |
|
0.39 |
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|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the business of industrial
packaging, polymers and fluids, automotive components, insulation, testing
equipments, adhesive tapes etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Financial
Institution: |
Life Insurance Corporation of India Yogakshema Jeevan Bima Marg, Bombay - 400021, Maharashtra, India |
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Auditors : |
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Name : |
Deloitte Haskings and Sells Chartered Accountant |
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Address : |
1-8-384 and 385, 3rd Floor, Gowra Grand, S. P. Road,
Begumpet, Secunderabad – 500003, Andhra Pradesh, India |
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Tel. No.: |
91-40-40312600 |
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Fax No.: |
91-40-40312714 |
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PAN.: |
AACFD3771D |
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Fellow Subsidiary
Company : |
· ITW Signode Engineered Products · TAG Staples SDN. BHD · ITW Buildex · ITW Litec France, SAS · ITW Deltar Tekfast · ITW Workholding · Stokvis Prostick Tapes Private Limited · U25209PN1998PTC113309 · Miller Electric Mfg Company · AOC hi-Tech Limited · ITW Hi- Cone · Foster Refrigerator · ITW Finishing Systems and Products · M.P.S. METAL · Plastik Sanayi Cember VE PAK.SIST.IML.VE TIC.A.S · ITW Philadelphia Resigns · ITW Rocol North America · ITW Automotive GMBH Germany · ITW Shippers · I T W Baillay-Combte · ITW Medalist · ITW , Inston · Magnaflux Corporation · ITW Reddipac/Miller · ITW Packaging Systems Group GMBH · ITW Fastex · ITW Signode Export and Distributive Services · ITW Muller · ITW Stretch Packing Systems · Devcon Limited · Signode Systems Gmbh · Instron Singapore PTE · ITW De France · ITW Delfast – UK · ITW Packing (Shanghai) Limited · ITW Delpro · ITW Mikalor Automotive · Hobart Brothers Company · ITW Mima Packing Systems Haloila · Weldcraft · ITW Gema GmbH · ITW Orbitalum · Eurotec group · Hobart Gmbh · Tientai Electrode Company, Limited · Signode Singapore Pte. Limited · Signode Packing system Limited Kenya · Magnaflux · ITW Buildex International · ITW Construction Service And Parts · Interlashing S.R.L · ITW Fleetwood-Signode · ITW Mima Packaging Systems · ITW Insultation Systems · ITW Reddi-PAC · ITW Bulgaria Eood · Midwest Industrail Packaging Inc · Paslode Inc., - Australia · Signode System Gmbh · ITW Paslode Inc. – USA · ITW Dynatec · ITW Packaging Systems Group Gmbh · Loveshaw an ITW Company · ITW Signode Midwest Steel Facilities and Process Engineering. · ITW TIEDE Non-destructive testing GmbH · ITW Spraytec · ITW Performance Polymers (wujiang) Company Limited · Wynns Belgium, NV · Forkardt Deutschland GmbH · Schenee Morehead INC · ITW CIP Gallatin · ITW Metal Fastener S. L.U. · ITW Pronovia S.R.O. · ITW Automotive Italia Divisions Lys Fusion Srl · ITW Espana S A · ITW De France SAS · ITW Espana S A · ITW Fastek France · ITW Delfast- Spain · ITW Delfast · ITW Engineered Fasteners · ITW Fastener Products Gmbh · Kraft S.L.U · ITW Tekfast · ITW Befestigungssysteme Gmbh · Loma Systems · ITW Plexus · ITW Dymon · FED CHEM LLC · ITW Shanghai metal Plastics China · Eurotech Cooking Service · Buildex – USA · Franklynn Industries Inc · ITW Test and Measurement Italia · Hobart Brothers Company · ITW Automotive Products GmBH and Company · ITW Insultation Systems Houston · Instron India Private Limited · U33129TN2000PTC046155 · ITW Insultation Systems, FZE · Instron Singapore Pte Limited · Instron USA |
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Subsidiary Company
: |
Signode India Limited U74950AP2003PLC091521 |
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Holding Company : |
Illinois Tool Works, Inc.,USA |
CAPITAL STRUCTURE
As on: 25.11.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25300 |
Equity Shares |
Rs.20000/- each |
Rs.506.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8938 |
Equity Shares |
Rs.20000/- each |
Rs.178.760 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6775 |
Equity Shares |
Rs.20000/- each |
Rs.135.500 Millions |
|
|
|
|
|
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25300 |
Equity Shares |
Rs.20000/- each |
Rs.506.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8936 |
Equity Shares |
Rs.20000/- each |
Rs.178.720 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6775 |
Equity Shares |
Rs.20000/- each |
Rs.135.500 Millions |
|
|
Forfeited Shares |
|
Rs.0.005
Million |
|
|
|
|
|
|
|
Total |
|
Rs.135.505 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 |
135.505 |
135.465 |
135.465 |
|
(b) Reserves & Surplus |
7447.115 |
6493.072 |
5421.179 |
|
(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) |
7582.620 |
6628.537 |
5556.644 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
35.118 |
39.222 |
39.148 |
|
(b) Deferred tax liabilities
(Net) |
99.372 |
89.473 |
62.045 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
41.136 |
36.275 |
18.191 |
|
Total
Non-current Liabilities (3) |
175.626 |
164.970 |
119.384 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
18.619 |
0.000 |
0.000 |
|
(b) Trade payables |
846.501 |
688.564 |
535.276 |
|
(c) Other current liabilities |
200.299 |
262.482 |
321.174 |
|
(d) Short-term provisions |
3.537 |
19.410 |
6.661 |
|
Total
Current Liabilities (4) |
1068.956 |
970.456 |
863.111 |
|
|
|
|
|
|
TOTAL |
8827.202 |
7763.963 |
6539.139 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1828.048 |
1491.345 |
1245.134 |
|
(ii) Intangible Assets |
373.132 |
349.265 |
0.000 |
|
(iii) Capital work-in-progress |
101.548 |
148.019 |
67.031 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
490.045 |
490.045 |
50.165 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
191.827 |
146.700 |
112.156 |
|
(e) Other Non-current assets |
62.578 |
48.497 |
76.713 |
|
Total
Non-Current Assets |
3047.178 |
2673.871 |
1551.199 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1433.340 |
1079.161 |
995.406 |
|
(c) Trade receivables |
2478.173 |
1941.390 |
1686.293 |
|
(d) Cash and cash equivalents |
1258.268 |
1497.464 |
1752.767 |
|
(e) Short-term loans and
advances |
447.480 |
410.331 |
513.527 |
|
(f) Other current assets |
162.763 |
161.746 |
39.947 |
|
Total
Current Assets |
5780.024 |
5090.092 |
4987.940 |
|
|
|
|
|
|
TOTAL |
8827.202 |
7763.963 |
6539.139 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
11593.680 |
8989.880 |
7606.051 |
|
|
Other Income |
164.973 |
300.664 |
195.874 |
|
|
TOTAL
(A) |
11758.653 |
9290.544 |
7801.925 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
4893.748 |
3620.932 |
3171.468 |
|
|
Purchases of Stock-in-Trade |
1997.615 |
1512.595 |
1089.444 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(338.879) |
(67.343) |
(140.429) |
|
|
Employees benefits expense |
1610.710 |
1300.272 |
997.867 |
|
|
Other expenses |
1290.728 |
1093.827 |
1058.137 |
|
|
TOTAL
(B) |
9453.922 |
7460.283 |
6176.487 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
2304.731 |
1830.261 |
1625.438 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
40.885 |
12.963 |
4.628 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2263.846 |
1817.298 |
1620.810 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
308.853 |
194.315 |
154.255 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1954.993 |
1622.983 |
1466.555 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
635.273 |
551.090 |
508.726 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
1319.720 |
1071.893 |
957.829 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
6366.000 |
5294.000 |
4336.200 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
7319.900 |
6365.900 |
5294.000 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1110.000 |
841.500 |
714.600 |
|
|
Commission |
88.100 |
22.600 |
5.300 |
|
|
Services |
74.600 |
94.800 |
79.400 |
|
|
TOTAL
EARNINGS |
1272.700 |
958.900 |
799.300 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.95 |
1.58 |
1.41 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
11.22 |
11.54 |
12.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.86 |
18.05 |
19.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.74 |
22.78 |
22.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.24 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.41 |
5.25 |
5.78 |
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 |
135.465 |
135.465 |
135.505 |
|
Reserves & Surplus |
5421.179 |
6493.072 |
7447.115 |
|
Net
worth |
5556.644 |
6628.537 |
7582.620 |
|
|
|
|
|
|
long-term borrowings |
39.148 |
39.222 |
35.118 |
|
Short term borrowings |
0.000 |
0.000 |
18.619 |
|
Total
borrowings |
39.148 |
39.222 |
53.737 |
|
Debt/Equity
ratio |
0.007 |
0.006 |
0.007 |
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 |
7606.051 |
8989.880 |
11593.680 |
|
|
|
18.194 |
28.964 |
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 |
7606.051 |
8989.880 |
11593.680 |
|
Profit |
957.829 |
1071.893 |
1319.720 |
|
|
12.59% |
11.92% |
11.38% |
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 |
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 |
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 |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM |
|
|
|
Deferred sales tax loan |
25.558 |
25.558 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
18.619 |
0.000 |
|
|
|
|
|
Total |
44.177 |
25.558 |
NOTE:
The Registered Office of the has been shifted from the 3rd Floor,
Merchant Towers, #5 Road No. 4, Banjara Hills, Hyderabad – 500034, Andhra
Pradesh, India to the present address w.e.f. 19.12.2008
FINANCIAL REVIEW
The total revenues of the Company increased from Rs. 9290.500 Millions to Rs. 11758.700 Millions, an increase of 26.56% over the previous year. Profit before tax increased from Rs. 1622.900 Millions to Rs. 1955.000 Millions, an increase of 20.45%.
CORPORATE INFORMATION
Subject is a public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. It is a subsidiary of Illinois Tool Works, U.S.A. The Subject is engaged in the business of industrial packaging, polymers and fluids, automotive components, insulation, testing equipments, adhesive tapes etc. The Company caters to both domestic and international markets.
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Computers
·
Electrical Incubation
·
Furniture and Fixtures
·
Office Equipments
·
Vehicle
· Leasehold improvements
Intangible Assets
· Goodwill
· Brands and Trade Marks
· 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.60.19 |
|
|
1 |
Rs.103.14 |
|
Euro |
1 |
Rs.81.66 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
51 |
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.